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TATA AIG LIFE |
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Invest Assure II |
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Invest Assure II is a unit linked endowment plan from Tata AIG Life Insurance Company |
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Unique selling proposition |
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Flexibility of choosing policy term, amount of sum assured (as a multiple of annual premium). |
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Option to increase sum assured available. |
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Policy benefits |
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On death of life assured during policy period, nominee gets higher of regular premium fund value or sum assured. |
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Total fund value payable as maturity benefit. |
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Eligibility parameters |
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Age at entry: minimum – 30 days; maximum – 60 / 55 / 45 years for 15 / 20 / 30 year policy term respectively |
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Maximum age at maturity: 75 years |
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Policy term: 15 years, 20 years or 30 years |
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Sum assured: is in multiples of Rs.1,000 |
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Minimum annual premium: Rs.12,000 |
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Premium payment frequency: annual semi-annual, quarterly, monthly |
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Policy charges |
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Premium allocation charge: 17.5% to 50% for 1st year, 12.5% to 25% for 2nd year, and 1% for 3rd year and onwards. 1.5% for top up premium |
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Policy administration charge: Rs.38 / month subject to maximum increase of 5% p.a. |
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Mortality charge: depends upon age at entry and is levied by cancellation of units on a monthly basis |
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Switching charge: Rs.250 / switch after 4 'free-of-charge' switches every policy year |
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Partial withdrawal charge: calculated as a percentage of fund value withdrawn |
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Fund management charge: 0.90% to 1.75% p.a. depending on investment fund choice |
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Rider available |
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Accident death benefit rider |
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Accident death and dismemberment rider |
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Premium waiver / payor benefit rider |
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Critical illness rider |
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