Monday, September 7, 2009

Tata AIG Life InvestAssure Apex


Tata AIG Life InvestAssure Apex is a unique unit linked life insurance plan that provides a platform ensuring the upside potential of the equity markets while safeguarding the investor's interest by offering a Guaranteed Maturity Unit Price (GMUP)#.

This product is available for a limited period only.

IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER.

Key Features:

  • Premium payment option of 3 years
  • Policy benefits for 10 years
  • Unique feature of Guaranteed Maturity Unit Price (GMUP) #
  • Option of partial withdrawal

Key Benefits:

  • Pay for 3 years and enjoy benefit for 10 years
  • GMUP# gives you a benefit of NAV (Net Asset Value) insurance that means your NAV is guaranteed in case of market volatility.
  • Life cover to protect your loved ones from financial uncertainty
  • Flexibility of partial withdrawal to meet your liquidity needs

Riders:

  • Option to attach any of the 3 following riders at a nominal extra cost - Tata AIG Life Accidental Death Benefit (ADB) Rider (UIN 110C003V01), Tata AIG Life Accidental Death and Dismemberment (ADDL) (Long Scale) Rider (UIN 110C004V01) or; Tata AIG Life Critical Illness (Lump Sum) Rider (UIN 110C012V01).

Eligibility Criteria:

  • Minimum issue age of 18 years, maximum issue age of 70 years with maximum age at maturity of 80 years.
  • Minimum Premium: Rs.90,000 p.a.
  • Minimum Sum Assured: 5 * Annualized Premium
  • Maximum Sum Assured: 60 * Annualized Premium
  • Premium payment mode: Annual only

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 Lump Sum Benefit Rider is eligible for tax benefit U/s 80D of the same act. Moreover, life insurance proceeds enjoy tax benefits as per section 10(10D) of the said Act.

#GMUP: "Guaranteed Maturity Unit Price" means the highest Unit Price of the Apex Return Lock-in Fund II recorded on the one hundred (100) Reset Dates. The Unit Price is Rs. 10 on the first Reset Date. The Guaranteed Maturity Unit Price is applicable to the Apex Return Lock-In Fund II and for the purpose of determining the Maturity Benefit only.

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