The Tata AIG Life Life Plus is a non participating plan. This provides the policy holder with life cover for 20 years. In case if there is no claim then the premiums paid by the policy holder will be refunded to the policy holder. It ensures the safety of future of the family of the policy holder and also the value for money insurance cover.
The eligibilities for Tata AIG Life Life Plus are:
- The minimum age for the policy is 18 years,
- The maximum age for the policy is 60 years.
- Minimum Sum Assured under this policy is Rs. 1, 00,000.
- Premium payment modes of the policy are monthly, quarterly, semi-annual or annual.
- Minimum Premium – Monthly – Rs.500
- Minimum Premium – Quarterly- Rs.1000
- Minimum Premium – Semi annual- Rs.2000
- Minimum Premium – Annual- Rs.4000
The key features of Tata AIG Life Life Plus are:
- Life cover for 20 years – Upon the fateful death of the policy holder at any time during the 20-year term, the Plan pays the Sum Assured to the family of the insured.
- In case of an accidental death of the policy holder double of the sum assured will be paid to the family to the insured.
- This policy is a term policy that also returns the premiums paid at the end of 20 years. The return is guaranteed.
- Premiums are payable under this policy are only for the first 15 years of the policy.
- The rider of the policy is Tata AIG Life Accidental Death & Dismemberment Short Scale (UIN: 110C004V01) which is to be attached at a low additional expenditure.
Premiums paid under this plan are eligible for tax benefits under Section 80C of the Income Tax Act, 1961.
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Tags: Insurance, LIFE PLUS, TATA AIG LIFE