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Tuesday, January 20, 2009

Tata AIG Life unveils InvestAssure Insta

A unit-linked insurance plan with tax benefits u/s 80C

Tata AIG Life Insurance Company Limited has announced the launch of an easy-to-understand and customer-friendly unit-linked insurance plan -Tata AIG Life InvestAssure Insta.

The policy can be bought for anyone between the ages of 30 days and 60 years with maximum maturity age of 75 years. The policy offers annualized premium options of Rs. 20,000, Rs. 30,000, Rs. 40,000 and Rs. 50,000 which the customer can decide upon in accordance to his convenience. The premium paid under this policy is eligible for tax benefits u/s 80C of the Income Tax Act, 1961. Moreover, life insurance proceeds enjoy tax benefits as per section 10(10D) of the said Act.

Tata AIG Life InvestAssure Insta is designed to help the policyholder obtain valuable protection enhanced by the benefit of getting the most out of his investment and the growth potential through high allocation rates and further supplement it with a guaranteed maturity bonus. The customer can choose from a spread of five fund options depending upon his risk taking appetite:

-Top 50 fund

-Top 200 fund

-Aggressive Flexi fund

-Stable Flexi fund

-Bond fund

Speaking at the launch, Mr. Trevor Bull, Managing Director, Tata AIG Life Insurance Company Limited said, This simple plan is a new year gift to our customers. It is extremely transparent and easy to comprehend and buy. Tata AIG Life InvestAssure Insta focuses on building the customers corpus with higher premium allocation and guaranteed maturity bonus,it is insurance in its most customer friendly form.

On survival to the end of the policy term, the policyholder will receive the Total Fund Value, which is equal to the value of the Regular Premium Account, plus the value of the Top-Up Premium Account (if applicable) valued at applicable unit price. In addition, they will also receive the Maturity Bonus of 5% of the Regular Premium Account as on the maturity date, provided all due premiums have been paid. However, the maturity bonus will not be applicable on death/lapse/surrender or on the Top-up Fund Value under the policy.

source: Capital Market
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