Edelweiss Tokio Life Wealth Accumulation Comprehensive over

Recommendations :No

Name of the policy :
Edelweiss Tokio Life Wealth Accumulation Comprehensive over

A brief desciption :

Edelweiss Tokio Life Wealth Accumulation Comprehensive Cover is a ULIP Policy providing fund value at maturity and sum assured plus fund value plus income protection benefit, in case of unfortunate demise of the life insured. ULIP's provide a combination of insurance and investment which infact is a deadly combination moreover loads of charges and almost neglible insurance makes such products worthless.

Started date :
28/6/2011

Type of policy :
Insurance cum Investment

Category :
ULIP

Insurance :
Min- For age < 45 years, AP x (Higher of 10 or 0.5 x PT), For age >=45 years, AP x (Higher of 7 or 0.25 x PT) Max- For age < 45 years, AP X 25, For age >=45 years, AP X 20

Returns expected :
8%-10% (The performance would be less than a performing equity diversified mutual fund)

Entry age :
5-65 Years

Surrender :
The Fund Value is provided as Surrender Benefit after 5 years.

Minimum amount :
Min- 25,000 Max- No limit

Mortality Charges :
Monthly Mortality Rate= Sum at risk * Annual Mortality Rate/12


Premium Allocation Charge Year 1 :For AP < 1.5 Lakhs- 6% 1.5 lakhs- 9.99 lakhs- 4% More than 10 lakhs- 3%
Premium Allocation Charge Year 2 :For AP < 1.5 Lakhs- 4% 1.5 lakhs- 9.99 lakhs- 4% More than 10 lakhs- 3%
Premium Allocation Charge Year 3 :For AP < 1.5 Lakhs- 4% 1.5 lakhs- 9.99 lakhs- 4% More than 10 lakhs- 3%
Premium Allocation Charge Year 4 :For AP < 1.5 Lakhs- 4% 1.5 lakhs- 9.99 lakhs- 4% More than 10 lakhs- 3%
Premium Allocation Charge Year 5 :For AP < 1.5 Lakhs- 4% 1.5 lakhs- 9.99 lakhs- 4% More than 10 lakhs- 3%
Premium Allocation Charge Year 6 :For AP < 1.5 Lakhs- 2% 1.5 lakhs- 9.99 lakhs- 2% More than 10 lakhs- 2%
Premium Allocation Charge Year 7 :For AP < 1.5 Lakhs- 2% 1.5 lakhs- 9.99 lakhs- 2% More than 10 lakhs- 2%
Premium Allocation Charge Year 8 :Nil
Fund Management Charge :Equity Large Cap Fund- 1.35%, Equity Top 250- 1.35%, Bond Fund- 1.25%, Money Market Fund- 0.75% , P/ E Based Fund- 1.30%, Managed Fund- 1.35%
Surrender/ Premium Discontinuance Charge Year 1 :For AP 25,000- Lower of 20 % of (AP or FV) subject to maximum of 3000, For AP> 25,000- Lower of 6% of (AP or FV) subject to maximum of 6000
Surrender/ Premium Discontinuance Charge Year 2 :For AP 25,000- Lower of 15 % of (AP or FV) subject to maximum of 2000, For AP> 25,000- Lower of 4% of (AP or FV) subject to maximum of 5000
Surrender/ Premium Discontinuance Charge Year 3 :For AP 25,000- Lower of 10 % of (AP or FV) subject to maximum of 1500, For AP> 25,000- Lower of 3% of (AP or FV) subject to maximum of 4000
Surrender/ Premium Discontinuance Charge Year 4 :For AP 25,000- Lower of 5% of (AP or FV) subject to maximum of 1000, For AP> 25,000- Lower of 2% of (AP or FV) subject to maximum of 2000
Surrender/ Premium Discontinuance Charge Year 5 and above :Nil

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