This is yet another endowment plan from Tata AIG Life that has been designed specifically to offer insurance cover to the people who are dependent on the insured. In this policy the dependent member of the insured’s family would be getting financial support even after the death of the insured individual. This policy is also considered to be the best tool for planning a retirement.
Some of the important features and benefits of this very insurance policy of Tata AIG Life are as follows:
- In this policy the benefits would be offered to the dependent member of the family even after the death of the policy holder.
- Another unique feature of this policy is that if the insured manages to outlive the term of the policy then he or she would become eligible for wide range of bonuses along with the insured sum.
- If the insured has maintained this policy for ten years or more then the insured is eligible to have guaranteed addition of ten percent of the sum assured. This amount is payable either after the death of the insured or after maturity.
- In this policy there is an option of revisionary bonus that is normally paid either after the death of the insured or after the maturity.
- This policy even offers terminal bonus, which is normally paid after the successful completion of ten years of the policy. Apart from this revisionary bonus is also available but this generally depends on the performance of the company.
- In this policy the premiums and the money that is paid that is received by the insured after the successful completion of the policy are fully exempted from taxes.
- For added protection, raiders for Term, Accident, Disability and Critical Illness are also available under this package.