This one is an endowment insurance policy of Tata AIG Life that offers safety as well as constant returns to its policy subscribers. Here the sum that has been assured by the insured would be received by the dependent member or members of the family after his or her death. At the date of maturity the insured would not only get the policy amount but also the bonuses.
Some of the most important features of Tata AIG Life Assure Golden Years Plan policy are as follows:
- In this policy, there is a guaranteed addition of ten percent of the sum assured would be paid to the insured. But to get this benefit, the insured must maintain this policy for ten years or more. This benefit can be derived only after the death of the insured or after the maturity of the policy.
- In this policy there is also an option of reversionary and terminal bonus, which is paid after the death or on maturity.
- The Reversionary and Terminal bonuses depends mainly on the performances of the insurance company and for this reason the amount of these bonuses are not fixed.
- The policy can only be subscribed by the people who are between eighteen to fifty years.
- Raiders for term, accident, disability and critical illness can also be availed at a marginal additional cost.
- The premiums paid are eligible for tax benefits under Section 80C of the Income Tax Act.