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Tata AIG Life Insurance ‘Gyan Kosh’ is a non-participating unit-linked insurance plan (ULIP). It aims to provide financial protection for children's education, important milestones of life like marriage, providing funds for setting up a business, etc.
The plan is available to individuals between 18 years to 50 years. Policyholders can choose from two protection options Security Net and Safety Net where, in case of death or total permanent disability of the insured, all future premiums payable are waived off. Under both these options, the total fund value is paid to the policyholder in case of total permanent disability and survival till maturity, or to the nominee (in case of death of policyholder) on maturity. Depending on one’s risk appetite, policyholders can choose from seven investment funds.
On survival to the end of the policy term, depending on the policy term, guaranteed maturity addition of 1.5% to 3% of regular premium fund value is paid to increase the maturity amount.
Key Highlights Tata AIG Life Insurance Plan ‘Gyan Kosh’:
• Two protection options to choose from — Security Net and Safety Net
• Two inbuilt waiver of premium benefits — Family Guard and Family Advantage
• Guaranteed maturity addition paid on maturity
• Three riders for added protection
Read our complete review of Tata AIG Gyan Kosh
Speaking at the launch, Suresh Mahalingam, MD and CEO, Tata AIG Life Insurance Company, said, “It is the dream of every parent to see their child achieve success in all their endeavours in life and save actively for their education to build the foundation of this success.”
“Tata AIG Life Insurance Gyan Kosh with its two protection options and inbuilt benefits is designed to help parents to not only assemble their desired savings but also protect it in case of any exigencies. The plan ensures that in the unfortunate event of the death or disability of insured, the journey of their loved ones towards success and happiness is not hampered by any financial constraints,” he added.
For doting parents, Tata AIG also has 3 traditional child plans Star Kid, Assured Carrier Builder, Assure Educare and a very popular multi-purpose plan with child benefit called MahaLife Gold.