This is yet another insurance plan from Tata AIG and is very elastic as well. This plan offers protection to a life insurance policy and this is done by exploiting the market returns on various types of bonds and securities. This insurance plan is also known to make an investment fund portfolio in which the insured can direct their investment. Ample of options are presented to the insured in the investment fund portfolio so that the policy can meet up the requirement of the insured.
Some of the important features of Tata AIA Invest Assure II policy are as follows:
- The term of this policy is especially flexible and this from 15 to 30 years.
- After continuing with the policy for 6 years, the insured can surrender any time without any fine.
- In this policy the sum assured is the multiple of premium that is to be paid yearly. This multiple varies according to the age of the insured and the term of the policy.
- In this policy the insured is offered with the option of multiple premiums thereby allowing additional freedom to the insured.
- In this policy the charges are not at all deducted from the premium. Here the premium is invested in extensive variety of bonds and securities such as income fund, equity fund, growth fund, Short Term Fixed Income Fund, etc.
- This policy also offers the flexibility to migrate from one fund to another. Along with this the insured is also allowed to select various other features that are offered by the insurance company such as partial withdrawal, policy reinstatement, multiple premium payment, etc.
This policy also offers tax benefits to its customers as per Section 80C and 10(10D) of the Income Tax Act, 1961. This policy offers insurance cover on different perils such as Critical Illness, accident, etc. Riders are also available under this policy and are mostly for term, Critical Illness, Accident and Disability. This facility can be availed by making an additional marginal payment.
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