Arpita is now a successful doctor in Pune. She believes that the entire credit for her success and achievement belongs to her late father. Her father was an avid gardener and believed in a simple but deep analogy: If one wants to enjoy a fruit in the future, one must plant the seeds in the present. He instilled the virtues of sound financial planning in his young daughter. Little did he know that the investment plan he opted for his daughter’s bright future would ensure that his beloved family is taken care of in case an unexpected unfortunate event of death were to happen to him.
Arpita’s father passed away while she was in school. At that very moment, there were various thoughts that crossed her mind. Apart from the emotional trauma of losing her beloved dad, Arprita was considering to quit her academics and look for a job as she was concerned about her family’s finances. When Arprita disclosed her decision, her mother revealed that her father had opted for an investment plan which also served as a child plan. He had chosen the Rising Star benefit in Edelweiss Tokio Life – Wealth Plus.
Edelweiss Tokio Life Wealth Plus, a new age ULIP that caters to the need for long term investment as well as protection. It has no allocation or policy administration charges and so allocates 100% of the premium amount on the fund chosen. Edelweiss Tokio Life -Wealth Plus is ULIP where the company also invests in the fund in the form of additional allocation that grows in time.
The best feature of this plan is the Rising Star Benefit which acts like a child plan where if there’s a sudden demise of the policyholder (who is a parent) then a lumpsum amount will be provided as a death benefit and the entire future premiums along with additional allocation will be immediately invested by the company in the fund so that the child receives the returns as planned by the parent. The future premiums will be waived off after the policyholder’s death.
Arprita’s dad was a true planner in every sense and so he chose a plan that will take care of her career goals even in his absence.
Just like her dad who was a smart planner. You should invest from the time your child starts going to school. A right investment plan is one of the ways in which you can not only financially support your child’s goals but also secure the future of your child. An insurance plan is like the fire alarm in your building which may not come in use on a daily basis but can be a life saver when it detects certain levels of smoke that could be an indication of fire.
There are many types of insurance plans available in the market. You need to understand the uncertainties of life and plan for the financial security of your loved ones. You may rely on the assets you’ve created but what if they are not enough in case of an eventuality? This is where a life insurance plan comes to your rescue. By opting for life insurance, you can make sure that your family continues to live the life you’ve worked so hard to give them.
In simple terms, life insurance provides financial security to your family when you are no more. The proceeds can help your spouse cover household expenses and fund your child’s education.
Start planning wisely for your family’s financial future and ensure that their dreams are fulfilled. All you need to do is to purchase a plan that suits your own individual life insurance needs and pay the premiums accordingly.