Invest Assure Superstar is an insurance policy from Tata AIG Life Invest Assure and this policy has been designed especially for the children. The main objective of this policy is to offer financial security to the future of the children. This one is a non-participating unit linked endowment plan that also comes with an in-built waiver of premium.
Some of the important features Invest Assure Superstar policy is as follows:
- The amount of money that has been assured is paid to the nominee after the sudden demise of the insured. In this case the benefits of the policy would be offered till the end of the policy term.
- Since this policy has the in-built premium waiver option therefore the policy offers two options regarding this case in which the beneficiary has to choose any one in case of death or disability of the insured. Here the first one is the family guard where all the premiums of the future are paid. The second one is the family advantage in which half of the future premiums are paid into the funds and the remaining half is paid to the nominee.
- In this policy the maturity bonus is also availed up to four percent of the regular premium fund value.
- This policy also offers the option to making savings under Regular Transfer Investment and Systematic Money Allocation.
- The policy is also very flexible since the term of this policy ranges from ten to twenty-five years.
- The term for the payment of premium is also very flexible. The options that are offered by the company to the policy holders are 5, 10 and 25 years.
Apart from all such features, insured can also avail tax benefit under section 80C of the Indian Income Tax Act, 1961 on the premiums that has been paid for keeping the policy intact.