Comments
Tata AIG Life Insurance Company Ltd has launched two new products — a non-participating whole life unit-linked insurance plan and a non-participating endowment unit-linked insurance plan.
A non-participating insurance plan is one under which the policyholder is not entitled to share in the dividend distribution of the company.
InvestAssure Gold Supreme, the non-participating whole life ULIP, offers life insurance protection for the whole life by paying premiums for five or seven years.
In InvestAssure Maximizer, non-participating endowment ULIP, the policyholder can choose a life cover term ranging from 20 years to 40 years, again by paying premiums for five or seven years.
The endowment-linked ULIP plan offers the choice of two life cover options — premium life cover (death benefit is the combination of sum assured and fund value) and standard life cover (death benefit is higher of sum assured or fund value)
In both ULIPs, policyholders are entitled to loyalty additions of 0.25 per cent of the regular premium fund value which will be paid to them every five years, starting from the 10th policy anniversary, provided the policy is in force and the insured is alive on the relevant policy anniversary.
The minimum death benefit under both the plans is 105 per cent of the total premiums paid.
Other features for both plans include additional protection through two unit deducting riders for accidental death benefit and critical illness and choice of seven investment funds depending on customer's risk profile.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.