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Tata AIG Life Insurance Company has launched a new ULIP InvestAssure Apex Supreme in the insurance markets.
InvestAssure Apex Supreme is available for individuals between 18 years to 65 years. The company has named it as Apex Supreme as the word ‘Apex’ means “top or the highest point”. It ensures that the policyholder gets the advantage of potential upside of the equity markets, whilst safe-guarding their interest by offering a Guaranteed Maturity Unit Price.
The policy term in InvestAssure Apex Supreme is 10 years, whereas the premium has to be paid only for 5 years. The plan offers Guaranteed Maturity Unit Price (GMUP) benefit that secures the highest Net Asset Value (NAV) achieved under the product during the 100 reset dates. It also offers Guaranteed Maturity Addition paid on maturity.
Partial withdrawals are allowed after 5 policy years. For added protection, the plan has 4 rider options -Accidental Death Benefit Rider, Accidental Death and Dismemberment Rider, Critical Illness (lump sum) Rider and Family Income Benefit Rider.
Read expert review on Tata AIG Life InvestAssure Apex Supreme
Commenting on the launch, Tata AIG Life MD & CEO Suresh Mahalingam said, "The introduction of the Series II of funds for Tata AIG Life Insurance InvestAssure Apex Supreme will once again give our customers the opportunity to invest in this unique product that is targeted at customers with medium to low risk appetite, who want to gain from the upside potential of the market whilst safeguarding their investments."
Tata AIG Life InvestAssure Apex Supreme is available for a limited period only. Premium paid under this plan are eligible for tax benefits under Section 80C of the Income Tax Act, 1961. The proceeds of life insurance get tax benefits as per Section 10(10D).