Tata AIG launches 'InvestAssure Plus'

New Delhi, Sep 20: Tata AIG Life today launched its single premium unit linked plan, InvestAssure Plus, which combines the security of a life insurance plan and provides the opportunity to earn higher market linked returns.

Tata AIG Life Insurance Company Limited Managing Director Trevor Bull said, ''The launch of InvestAssure Plus comes close on the heels of the new IRDA guidelines for unit linked products and the addition of InvestAssure Plus to our existing product suite will enable us to fulfill the new needs of our existing customers and meet the needs of fresh customer type.'' It is the easy investment policy option available for individuals, who are looking at investing lump sum cash for long term tenure of 15, 20, 25 and 30 years, he added.

Apart from death and maturity benefits, InvestAssure Plus provides flexibility of partial withdrawal from the third policy anniversary onwards.

The premium paid under this policy is eligible for tax deduction under Section 80C of the Income Tax Act, 1961.

The plan will provide the policy holder with the option of investing under a five pure investment funds - Equity Fund, Income Fund, Short Term Fixed Income Fund, Aggressive Growth Fund and Stable Growth Fund.

The policy holder has the option of choosing different investment funds depending on the prevailing market conditions and his risk taking appetite.

It gives customers a choice to switch between various fund types -- Debt, Equity and Balanced -- depending on the market conditions and also based on the advice of customers financial advisor.

The policy holder also has an option to pay additional premiums as top-up premiums at any time with or without uplift on the prevailing sum assured.

UNI