The principal of the School came out of her room and said “Congratulations! Your child has passed the interview” and invited us into her chamber.
Me and my wife, we both were excited that our little Rohan was selected into one of the best schools in our locality. As we sat down, she explained all amenities and extracurricular activities like football ground, drama club, etc. that the school has to offer. Then the principal told us that school fees for admission in Junior Kindergarten would be Rs. 200,000/- per annum and after that it will increase by 15% every year. Even though I shook my head and agreed to pay the fees and took the admission, I was a little worried.
While returning home from school, my wife kept me asking “what is the matter? Why was I so tensed?” I told her that we need to plan for Rohan’s education now itself as when he will come to Class X, his school education fees alone will cost us around Rs. 1,070,000/-. And what if something were to happen to me? That’s when she told me about Edelweiss Tokio Life Wealth Plus. She said her friend had invested in this ULIP for his child security. I went home, researched about the product, and found that it was meeting all my goals. Edelweiss Tokio Life Wealth Plus had more benefits compared to other ULIPs in the market. On researching, I discovered that there were no policy allocation and policy administration charges and 100% of premium paid by me gets invested in the fund. They also have an option called as “Self-Managed Strategy” wherein I can decide which funds my money gets invested in.
The unique point of Edelweiss Tokio Life Wealth Plus is that every year, additional allocations are added to the fund on every premium paid by me. These allocations start at 1% and increase every 5 years to 3%, 5%, and 7%, thus increasing your wealth. However, the best thing about Edelweiss Tokio Life Wealth Plus is the Rising Star Benefit which helps in securing my child’s future financial needs in my absence. In case of my untimely death, a lump sum amount will be immediately paid to my family, and all future premiums will be waived off and credited to my fund value by the Company immediately along with additional allocation as and when due, so my Rohan can get this policy’s benefits. I felt like it was a tailor-made investment plan for my needs. I shared this with my wife, and even she agreed that this would be the best thing that we can give our child.