Saturday, 13 March 2010

Tata AIG Life InvestAssure Superstar

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Tata AIG Life InvestAssure Superstar


As a parent, you shower many blessings on your children, including planning for a good education, savings for marriage, or setting up a business.

While no one can foresee the future, it’s clear that without you and without the financial contribution you make, your child’s future can be at a risk. Fortunately, there is something you can do today to help protect that future. Everyone wants the best for the little loved ones in their lives - from keeping them healthy and happy, to providing for their secure financial future.

Give your children the protection they deserve with Tata AIG Life InvestAssure Superstar - a non- participating unit linked endowment plan with an inbuilt Waiver of Premium (WOP) benefit.

Key features include:

  • Sum Assured is paid to the nominee on death of insured, but policy benefits continue till Policy Term
  • Option to choose any one of the following Waiver of Premium (WoP) benefits in case of death or total permanent disability of the insured.
    • Family Guard - We will pay 100% of the future premiums into your policy as if the policy is on monthly mode (OR)
    • Family Advantage - We will pay 50% of future premiums into your fund as if the policy is on monthly mode and 50% to the policyholder/nominee as if the policy is on monthly mode
  • Maturity Bonus* of up to 4% of Regular Premium Fund Value
  • Option to save under Systematic Money Allocation & Regular Transfer Investment (SMART)
  • Flexible policy term 10 - 25 years
  • Flexible premium paying term 5, 10 - 25 years Option to choose between the following fund types – Top 50 Fund, Top 200 Fund, Super Select Equity Fund, Aggressive Flexi Fund, Stable Flexi Fund, Large Cap Equity Fund, Bond Fund & Super 110% Capital Guarantee Fund#
  • Option to choose between the following fund types – Top 50 Fund, Top 200 Fund, Super Select Equity Fund, Aggressive Flexi Fund, Stable Flexi Fund, Large Cap Equity Fund, Bond Fund & Super 110% Capital Guarantee Fund#

* Subject to all due premiums paid and WoP benefit not being triggered anytime during the premium paying term.

#Super 110% Capital Guarantee Fund is available only for the policies with premium paying term greater than or equal to 20 years & for issue age less than or equal to 45 years at issue & for a sum assured less than or equal to 20 times of Annualised premium.

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Eligibility

Features

Minimum/Maximum Issue Age

18 / 55 yrs

Maximum Maturity Age

65 Years

Minimum Premium

Premium Paying Term

Mode

5

10 – 25

Annual

48,000

20,000

Semi Annual

24,000

12,000

Quarterly

12,000

6,000

Monthly

4000

2,000

Premium Mode

Annual/Semi-annual / Quarterly / Monthly

Premium Payment Period

Regular/Limited

Minimum Sum Assured

5 times Annualised Premium

Maximum Sum Assured

Policy Term * Annualised premium

Riders

The following riders can be taken at a nominal additional cost - Tata AIG Life Critical Illness Lumpsum Benefit Rider (UIN: 110C012V01), Tata AIG Life Accidental Death Benefit Rider (UIN:110C003V01) OR Tata AIG Life Accidental Death & Dismemberment Benefit (Long Scale) Rider (UIN: 110C004V01)

Tax Benefits:

Premiums paid under this plan are eligible for tax benefits under section 80C of the Income Tax Act, 1961. Premium paid towards Tata AIG Life Critical Illness Lumpsum Benefit Rider is eligible for tax benefit U/s 80D of the said Act. Moreover, life insurance proceeds enjoy tax benefits as per section 10(10D) of the said Act.
#

# Tax benefits are as per Income Tax Act, 1961, and are subject to modifications made thereto from time to time. Kindly consult your tax expert for the exact section applicable to you.

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