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Tata AIG Life InvestAssure Care |
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An inspiration that translates into a host of innovative product solutions for you. Tata AIG Life introduces Tata AIG Life InvestAssure Care(InvestAssure Care), a unique investment linked insurance plan with an in-built Critical Illness benefit for the first 5 years of the policy. Given a choice, most people would like to increase the earning potential of their insurance premium by deciding their own investment and risk limits.
InvestAssure Care, a unique, flexible insurance plan combines the security of a life insurance policy with the opportunity to exploit the upside of market returns (however, with increased investment volatility) by providing an option to invest in different kinds of securities through a choice of five fund options.
What's more, you can direct the investments by creating your own investment fund portfolio from a range of options to suit your needs and preferences.
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Benefits:
- Provides security to your family in case of your unfortunate demise.
- Gives you the flexibility to choose your funds based on your risk profile.
- Gives you Return of Premium guarantee on maturity incase you opt for Capital Guarantee Fund
- Enables you to enjoy market-linked returns with a potential for higher growth.
- Provides Critical Illness cover for the first five years of the policy.
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Key features include:
- Initial Sum Assured: You have an option to choose either the sum assured or premium you are willing to pay.
- Top-Up: Single Premium top up is allowed anytime during the period. Minimum Single top-Up Premium is Rs. 5000/- and will be allowed a maximum of four times in a policy year.
- Top-Up Sum Assured: You have an option to choose an additional sum assured equal to 1.25 or 5 times Single Top-Up Premium, subject to underwriting.
- Critical Illness (CI) Benefit: InvestAssure Care offers inbuilt Critical Illness (Lumpsum) benefit equal to 50% of the basic Sum Assured for issue ages 18-45 years. This benefit is an integral part of the product and is mandatory. This benefit is applicable for the first 5 years of policy term. This Critical Illness covers the following Critical Illnesses and Surgeries: (a) Cancer (b) Stroke (c) Heart Attack (d) Coronary Bypass Graft Surgery (e) Kidney Failure (f) Major Organ Transplant like Heart, Lung, Liver, Kidney or Pancreas or Bone Marrow Transplant.
- Choice of Five Fund Options: Growth Maximizer Fund, Growth Enabler Fund, Short Term Fixed Income Fund,Capital Guarantee Fund and Select Equity Fund.
Eligibility
| Term of Policy |
Minimum Age at Issue |
Maximum Age at Issue |
Minimum Annual Premium |
| 15 years |
30 days |
45 years |
Rs.12,000 |
| 20 years |
30 days |
45 years |
Rs.12,000 |
- For a healthy male aged 35 with chosen policy term of 20 years and Annual Regular Premium payment option of Rs. 50,000 with a premium multiple of 10.
Tax Benefits
- Premiums paid under this plan are eligible for tax benefits under Section 80C of the Income Tax Act, 1961. Any sum received under this plan is exempt from tax under section 10(10D) of the Income Tax Act, 1961.*
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