Tata AIG Life launches its first single premium Unit Linked plan

Mumbai, Sep 20 (UNI) Tata AIG Life Insurance Company Limited (Tata AIG Life) today announced the launch of its single premium unit linked plan - InvestAssure Plus.

This plan combines the security of a life insurance plan and provides the opportunity to earn higher, market linked returns.

InvestAssure Plus 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. The premium paid under this policy is eligible for tax deduction under Section 80C of the Income Tax Act, 1961, a press release issued here said.

InvestAssure Plus will provide the policy holder with the option of investing under the following five investment funds - Equity Fund, Income Fund, Short Term Fixed Income Fund, Aggressive Growth Fund and Stable Growth Fund, the release added.

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

Apart from death and maturity benefits, InvestAssure Plus provides flexibility of partial withdrawal from the third policy anniversary onwards. The policyholder also has an option to pay additional premiums as top-up premiums at any time with or without uplift on the prevailing sum assured.

If at any point of time during the term of the contract, the total amount of top-up premiums paid is greater than 25 per cent of the single premium; then such excess amount of Top-Up Premium will be used to provide additional Sum Assured subject to underwriting.

InvestAssure Plus is an easy to buy, hassle-free, unit linked insurance product. The minimum entry age is 0(30 days) years and the maximum policy issue age is 60 years, the release added.

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