Financial Planning

5 Reasons Why You Need This Stable Income Plan

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To say that the world is going through a challenging time is an understatement. The global Covid-19 pandemic has affected every individual in one way or the other. While the health effects are the most serious, we cannot deny that the financial losses are equally critical. Businesses are tanking and professionals are losing jobs, while our needs remain constant. This situation has made most of us realize the importance of a steady source of income that is over and above what we get paid for our professional services. With increasing job instability, it is wise to start building a second income that will sustain no matter what. With Edelweiss Tokio Life – Active Income, you can achieve just that.

Here are 5 reasons why Edelweiss Tokio Life Active Income is a stable income generator:

1. Income and life cover till the age of 99

While we are talking about the importance of building an additional income, let’s not forget the importance of protecting one’s life and family with a life insurance policy. With Active Income one gets a life cover along with a regular income which one can opt to enjoy till 99 years of age.

2. Cash Bonus

A Cash Bonus is also paid in addition to the Guaranteed Income every year, if declared. This Cash Bonus is a non-guaranteed bonus that may be payable on the performance of the participating fund of the Company.

3. Early or Deferred Income Benefit Options

Individual needs vary. Some may need an additional income immediately while others would like to start receiving it in their later years. Active Income lets you choose between the two types. With Early Income Benefit option, you can start receiving income from the second policy year itself. With Deferred Income Benefit option, you start receiving an income a year after the policy paying term ends.

4. Family Income Benefit Option

To additionally protect your family in times of upheaval, you can opt for the Family Income Benefit. With this option, in case of death or diagnosis of 12 Critical Illness covered , your family continues to receive the Income Benefit and Maturity Benefit without having to pay any future premiums. Also, your nominee will receive an additional lumpsum in case of death.

5. Tax Benefits

You get to enjoy tax benefit on premium under section 80C, and on income and maturity amount under Section 10(10D).

You cannot always avoid adversities. But, to lessen their impact on your life, you can be prepared with a Plan B. To build a steady additional income with Edelweiss Tokio Life – Active Income a savings and income plan by Edelweiss Tokio Life, click here.

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