Tata AIG Life launches new child ULIP

By SiliconIndia   |   Friday, November 27, 2009
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New Delhi: Tata AIG Life today announced the launch of InvestAssure Superstar - a unit linked life insurance plan (ULIP) for the education of children. It is a flexible financial protection tool that aims to give children the financial means to pursue their higher education. The plan comes with a total of eight fund options including the Super 110 percent Capital Guarantee Fund. The policy holder can invest his money accordingly, depending on his risk taking appetite. Tata AIG Life InvestAssure Superstar offers a flexible policy term between 10 to 25 years. The policy can be bought by anyone between the age of 18 to 55 years. The maximum maturity age is 65 years. "Tata AIG Life InvestAssure Superstar ensures that a child's dreams are protected. Our special child plan aims at helping parents secure and build their child's future in an easy, hassle-free manner," said M. Suresh, Managing Director, Tata AIG Life Insurance. Tata AIG Life InvestAssure Superstar offers the following benefits in the case of parent's demise: The sum assured will be paid to the nominee. Further premiums would be paid by the company through the inbuilt Waiver of Premium (WoP) benefit and the fund under the policy would continue to grow till maturity. The plan offers the policy holder two options of WoP to choose from Family Guard - the company will pay 100 percent of the future premiums into the policy and Family Advantage - the company will pay 50 percent of future premiums paid into the holders fund and 50 percent will be paid to the policyholder. Besides the WoP benefits, Tata AIG Life InvestAssure Superstar offers investors Systematic Money Allocation and Regular Transfer (SMART) - a solution for managing investments. SMART enables simple switching of a part of customer's investment from the accumulation to the target fund of their choice.
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