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Tata AIG Life Insurance Company Ltd has launched a non-participating single premium unit linked endowment insurance plan to help policyholders create a corpus for their golden years or set up a legacy for family members.
The policy, ‘Swarna Pratigya', is for those in the age group 51-70 with maximum maturity age of 80 years.
This plan offers life coverage of 1.1 times of single premium for the entire term of 10 years, with minimum premium starting from Rs 1 lakh. Policyholders can also pay a ‘top-up premium' and get additional cover, according to a company press release.
Flexibility option
The plan offers the flexibility to choose from seven investment funds and two portfolio strategies such as Systematic Money Allocation and Regular Transfer or Automatic Asset Allocation, thereby giving customers the opportunity to earn market-linked returns.
In case of an emergency, the policyholder has the option of withdrawing from the single premium fund after five policy anniversaries from the date of issuance of the policy.
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