Tata AIG unveils life apex pension plans


Tata AIG unveils life apex pension plans
Mumbai: Tata AIG Life Insurance announced the launch of Tata AIG Life Apex Pension Plans - a bouquet of four ingeniously designed unit linked pension plans that assist the policy holder to secure his golden years through the unique feature called 'Guaranteed Maturity Unit Price' (GMUP) which enables him to get returns based on the highest NAV per unit achieved on the reset dates. The policyholder's premium is allocated immediately in the respective Investment Fund from where the money is transitioned to the respective Return Lock-in Fund on the immediate next reset date. The Investment Fund - The investment objective for the Investment Fund is to provide capital protection with a high level of safety and liquidity through judicious investment in high quality short-term debt. The Return Lock-in Fund - The investment objective for the Return Lock-in Fund is to use the participation in an actively managed well diversified equity portfolio of large cap companies to generate capital appreciation and use high credit quality debt instruments to lock-in that capital appreciation. The NAV per unit of this fund is noted every reset date for the purposes of calculating the GMUP. The four plans a customer can choose from, depending upon his age, planned retirement age and financial requirement.