Tata AIG Life InvestAssure Superstar for the superstars of tomorrow
- Policy benefits continue till end of policy term even if the sum assured is paid to the nominee on death of insured.
- This product has an in-built waiver of premium (WOP) in case of death or total permanent disability of the insured.
- Systematic Money Allocation and Regular Transfer (SMART) for systematic investing
- Guaranteed Maturity Bonus* up-to 4% of Regular Premium Fund Value
Tata AIG Life today announced the launch of InvestAssure Superstar - a unit linked life insurance plan for children’s education. It is a flexible and user-friendly financial protection tool that aims to give children the financial means to pursue his or her dreams and live them.
Tata AIG Life InvestAssure Superstar offers the following benefits in the case of the Parent’s (Proposer’s) unfortunate demise: (a) The Sum Assured will be paid to the nominee.(b) Further premium’s would be paid by the company through the inbuilt Waiver of Premium (WOP) benefit (c) The fund under the policy would continue to grow till maturity.
The plan offers the policy holder two options of WOP to choose from:
- Family Guard - The company will pay 100% of the future premiums into the policy
- Family Advantage – The company will pay 50% of future premiums paid into your fund and 50% will be paid to the policyholder/nominee.
Speaking at the launch, Mr. M. Suresh, Managing Director, Tata AIG Life Insurance Company Limited said, ‘Every child has an unspoken dream to become someone great and do something different. Every parent seeks fulfillment of their dreams through their children. Tata AIG Life InvestAssure Superstar ensures that our children’s dreams are protected. Our special child plan aims at helping parents secure and build their child’s future in an easy, hassle-free manner’
Besides the Waiver of Premium benefits, Tata AIG Life InvestAssure Superstar offers investors Systematic Money Allocation & Regular Transfer (SMART) – a unique solution for managing investment. SMART enables simple switching of a part of customer’s investment from the accumulation to the target fund of his/her choice.
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The plan comes with a total of eight fund options to select from including the Super 110% Capital Guarantee Fund. The policy holder can invest his money accordingly, depending on his risk taking appetite:
- Top 50 Fund
- Top 200 Fund
- Aggressive Flexi Fund
- Stable Flexi Fund
- Bond Fund
- Super Select Equity Fund
- Large Cap Equity Fund
- Super 110% Capital Guarantee Fund
Tata AIG Life InvestAssure Superstar offers a flexible policy term between 10 – 25 years. The policy can be bought by anyone between the ages of 18 to 55 years. The maximum maturity age is 65 years.
Additionally, the premium paid under this policy is eligible for tax deduction under Section 80C and 10 (10) D of the Income Tax Act, 1961.