Tata AIG Life Assure Career Builder is yet another insurance policy from Tata AIG Life that has been targeted especially for the juvenile. The policy has been designed especially to offer financial support to the children so that they can meet the future challenges quite easily.
Some of the main features of Tata AIG Life Assure Career Builder policy are as follows:
- In this policy, lump sum amount is paid at various stages of the child’s life. Here the child would be getting twenty percent of the money on his or her eighteenth, twenty first and twenty forth birthdays and the remaining sum would be paid on the child’s 27th birthday that is at the time of maturity.
- In this very policy, the periodic payment doesn’t affect the full payment of the sum that has been assured for the death of the insured.
- Another unique feature of this policy is that there is a guaranteed ten percent addition to the sum and that is paid either at the time of maturity or at the death of the insured. But in this case the policy needs to be in force for at least ten years.
- On the anniversary policy, a compound revisionary bonus is credited on to the policy, which is as per the declaration of the company.
- On the other hand a terminal is also paid at the time of maturity. To avail this benefit one must maintain this policy for ten years or more.
Tax benefits are also available under this plan since the premium that is paid to keep the policy in healthy condition is eligible for tax benefits and this policy is also supported by money-back guarantee. Therefore if the insured is not willing to have this policy, all they need to do is to return the documents of the policy.