Tata AIG Life Assure Career Builder is a children’ s life insurance plan. Tata Aig’ s aim is to give your child the financial support they’ll need in various stages in their life.
Below are some unique features and benefits of Tata Aig Life Insurance – Career Builder Plan.
Unique Features :
- Guaranteed pay out at various stages of your child’s life, i.e. 20% sum assured on your child’s 18th -21st -24th birthday respectively and the remaining 40% when the policy matures, i.e. on your child’s 27th birthday.
- Partial payments against the policy will not affect the full payment of the sum assured in case of the insured’s death.
- Whats more! A guaranteed additional payment of 10% of the sum assured will be paid at the time of maturity or death (policy must be in force for a minimum 10 years).
- Interest earned on your accumulated bonus, as announced by the Company, is credited to your policy when it gets over.
- A terminal bonus ( bonus receive at the end of the term) is payable on death or maturity.
Tax Benefits, Riders and Age Eligibility :
- Minimum entry age is 0 years, with a maximum of 15 years. The policy matures at age 27.
- Compound reversionary bonus and terminal bonus are non-guaranteed and depend on the performance of the Company.
- Assure Career Builder is sustained by a money-back guarantee.
- Premiums paid under this plan are eligible for tax benefits under Section 80C of the Income Tax Act, 1961. Any sum received under this plan is exempt from tax under section 10(10D) of the Income Tax Act, 1961.
