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Jan 15, 2008, 05.52 PM IST | Source: Moneycontrol.com

Tata AIG Life launches InvestAssure Flexi

Tata AIG Life launches InvestAssure Flexi. Customized ULIP solution for every life-stage & need. Inbuilt flexibility across a host of features. Competitive charges augment customer gains.

Tata AIG Life Insurance Company Limited (Tata AIG Life) today announced the launch of InvestAssure Flexi. This unit linked insurance plan provides customers a host of flexible features to enable them select the right solution for their need. Flexible features also means that the customer can tailor the plan in a multitude of ways to accommodate specific personal needs. Additional options like investing in a combination of seven funds with dynamic fund switching options up to 12 times a year make InvestAssure Flexi an unbeatable plan.

 

For a plan where 10 or more annual premiums are paid, the policy also offers a guaranteed bonus at maturity, which increases the maturity corpus. It also offers maturity till 80 years of age. The customer has the flexibility to choose sum assured up to 60 times the annual premium.

 

Flexibility on many fronts ensures that customers can now choose and mould their InvestAssure Flexi plan, as they require:

 

  • A flexible policy term: one can choose any term between 5 & 40 years
  • A flexible premium paying term, again as per one's own paying preference
  • A suite of seven funds to invest in
  • The option to choose top-ups at any time for additional benefits
  • The option to switch one's investment between funds
  • The freedom to redirect future premiums to other funds except to Capital Guarantee Fund
  • The freedom to withdraw from selected funds after 5 years or 3 years for Top-up Accounts
  • The choice of either lumpsum or periodic payments upon maturity

The seven fund options -

Capital Guarantee Fund,

Large Cap Equity Fund,

Whole Life Mid Cap Equity Fund,

Whole Life Aggressive Growth Fund,

Whole Life Stable Growth Fund,

Whole Life Income Fund and

Whole Life Short Term Fixed Income Fund - provide an exhaustive set of investment options through a single window. Switching options help customers in taking advantage of market dynamics.

 

Speaking at the launch, Mr. Trevor Bull, Managing Director - Tata AIG Life Insurance Company Limited said, "InvestAssure Flexi will enable investors to manage their risk-return balance by providing them flexibility to customize their investment portfolio while providing inbuilt tailored protection. We are confident that the launch of this product along with our aggressive growth strategy and well developed distribution network will boost our next phase of growth. Our exceptional fund performance and our proven and successful investment practices will help deliver long term rewards through InvestAssure Flexi."

 

Mr. Joydeep Roy, Chief Distribution Officer, said, "This is an important addition that enriches Tata AIG Life's product mix. We have always been customer centric and at the heart of all our products is the customer's need. We believe this product will provide a truly customized solution and raise the bar of customer expectation."

 

Mr. Philip Hayman, Chief Agency Officer, said, "We are extremely excited about InvestAssure Flexi. This takes our product offering to the next level because of the unique combination of flexibility and choice it offers. InvestAssure Flexi provides the opportunity to investors to customize their plan based on their investment horizon and risk taking ability. Our well developed professional advisor network will benefit from the introduction of this product as it will enable them to offer a wider array of features to benefit the retail investors. This product offering is a milestone in Tata AIG Life's commitment to introducing innovative insurance solutions and enhancing its product suite to address the varying needs of Indian consumers."

 

The product is a complete and all-inclusive insurance plan which precludes the investor's need to look for multiple life insurance products to satisfy his financial needs. With this product, the investor can attend to an entire range of fiscal goals including legacy planning. Customers can avail of this policy 30 days from birth till the age of 70 years. Additionally, the premium paid under this policy is eligible for tax deduction under Section 80C of the Income Tax Act, 1961.

 

Sourced From: Perfect Relations Limited

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