By IANS
Pune : Tata AIG Life Insurance Co Ltd Tuesday announced the launch of a unit-linked pension plan, InvestAssure Future. This capital accumulation plan happens to be the first pure pension plan from Tata AIG Life’s portfolio.
It comes in two options, through payment of a single or a regular premium.
InvestAssure Future guarantees a bonus at maturity over and above the total retirement kitty. The policyholder can choose from a spread of five fund options – Future Equity Pension Fund, Future Income Pension Fund, Future Capital Guaranteed Pension Fund, Future Growth Pension Fund and Future Balanced Pension Fund.
Speaking at the launch, Joydeep Roy, chief distribution officer of Tata AIG Life, said: “Retirement planning is the single most significant saving needed for the customers given the increase in life expectancy and emergence of the nuclear family.”
Customers can avail of this policy starting from the age of 18 years till the age of 65 years in case of regular premium and 70 years in case of single premium.
The minimum annual premium amount in case of regular premium payment option is Rs.10,000 and in case of single premium payment option it is Rs.25,000. Additionally, the premium paid under this policy is eligible for tax deduction under Section 80CCC of the Income Tax Act, 1961.
InvestAssure Future will be available nationally through Tata AIG Life’s advisors and other distribution partners.