Tata AIG Life launches Gyan Kosh
The plan comes with in-built benefits to ensure financial protection of one's goals for children's education, important milestones of life like marriage, providing funds for setting up a business etc.
It offers a choice of two inbuilt protection options for the prospective customer to ensure the protection of their financial goals Security Net and Safety Net. Both these options have inbuilt Waiver of Premium benefit that waives all future premiums payable under the plan in case of death or total permanent disability of the insured. The insured has the option of choosing one of the two Waiver of Premium benefits, a release said.
In case of Safety Net, a sum assured is paid to the nominee on death of the life assured, future premiums are waived and the policy benefits continue. in addition to the sum assured getting paid to the nominee on death of the life assured and future premiums getting waived, the inbuilt Family Income Benefit also gets triggered. The Family Income Benefit pays a re-adjustment income of 1 percnt of sum assured to the family for the next 100 months or end of the policy term, whichever is earlier, in case of death or total permanent disability of the insured.
'Gyan Kosh' offers the investor the opportunity to choose from a wide range of 7 nvestment funds as per their risk profile. In addition, they can also benefit from Tata AIG Life's portfolio strategies SMART (Systematic Money Allocation and Regular Transfer) to optimize ones returns due to rupee cost averaging or AAA (Automatic Asset Allocation) to benefit from age appropriate allocation of assets.
Speaking at the launch, Mr Suresh Mahalingam, MD and CEO, Tata AIG Life Insurance Company Ltd said it is the dream of every parent to see their child achieve success in all their endeavours in life and save actively for their education to build the foundation of this success.
On survival to the end of the policy term Guaranteed Maturity Addition of 1.5 percent to 3 percent of Regular Premium Fund Value (depending on the policy term) is paid to augment the maturity corpus.
The policy can be purchased by an individual at any age ranging from 18 years to 50 years. Tax benefits are available as per Income Tax Act, 1961, and are subject to modifications made thereto from time to time. (UNI -Posted on / )
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