Tata AIG Life Insurance Company Limited (Tata AIG Life) has introduced its latest unit linked insurance product, Tata AIG Life Insurance InvestAssure Apex Supreme; with an aim to extend and strengthen its existing portfolio.
Speaking on the launch, Suresh Mahalingam, MD & CEO, Tata AIG Life said, “At Tata AIG Life, we constantly explore ways to provide solutions to a wide variety of customers. Over the years we have developed a series of strong Unit Linked insurance products, and with launch of InvestAssure Apex Supreme, we will further enhance our portfolio to meet the ever changing needs of the customers. Tata AIG Life Insurance InvestAssure Apex Supreme is targeted towards customers with medium to low risk appetite who want to gain from the upside potential of the market whilst safe guarding their investments.
Tata AIG Life Insurance InvestAssure Apex Supreme is a 5 year limited pay plan with policy term of 10 years and comes with the unique benefit of Guaranteed Maturity Unit Price (GMUP) that secures the highest NAV** achieved under the product during the 100 reset dates . And what’s more, it also provides a Guaranteed Maturity Addition^ that is payable on maturity. The plan offers a death benefit for the financial protection of our loved ones.
The policyholder can opt for additional protection by choosing from four rider options namely Tata AIG Life Accidental Death Benefit Rider, Tata AIG Life Accidental Death and Dismemberment (long scale) Rider, Tata AIG Life Critical Illness (lump sum) Rider and Tata AIG Life Family Income Benefit Rider that provides Readjustment Income in case of an unforeseen event. This benefit provides an additional 1% of the sum assured every month for a period of 100 months or till maturity, whichever is earlier.
In case of an emergency, the policyholder can avail of Partial Withdrawal from the fund to meet his liquidity needs. Partial Withdrawal is available from 5th policy anniversary onwards. The policy can be purchased for any individual between the ages of 18 years to 65 years. The premium paid under this plan is eligible for tax benefits under Section 80C of the Income Tax Act, 1961. The proceeds of life insurance enjoy tax benefits as per section 10(10D).
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