Tata AIG Life Insurance : Assure Educare at 18 & Assure Educare at 21 Page | Buy Insurance Online | Car Insurance | Life Insurance | Health Insurance | Car Insurance

Tata AIG Life Insurance : Assure Educare at 18 & Assure Educare at 21

September 29th, 2007 Leave a comment Go to comments

This is a first-of-its-kind juvenile endowment policy geared toward funding your child’s education. You can choose between Assure Educare 18 and Assure Educare 21, depending on your needs:

Assure Educare 18: This plan matures when your child turns 18 and is open to children between 0 years and 8 years of age.

Assure Educare 21: This plan matures when your child turns 21, and is open to children between 0 years and 11 years of age.

Key features of both of these plans include:

A guaranteed payment of 10% of the sum assured at maturity or on death (policy must be in force for a minimum 10 years).

An additional guaranteed education benefit of 20% of sum assured, payable to you at maturity.

A non-guaranteed compounded annual bonus credited on the policy anniversary (depending on Company performance).

A terminal bonus which is payable on death or maturity (policy must be in force for a minimum 10 years).

Free Look Period – A money-back guarantee, which allows you to return the policy within 15 days of receipt for a full refund (minus nominal administrative charges).

Sum Assured is payable on death or on maturity.

Tax Benefits, Riders and Age Eligibility

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.*

A Payor Benefit Rider is available which waives all future payments for this policy in the event of your death or disability, at a nominal extra cost.

Assure Educare 18 is open to children between 0 years and 8 years of age, while Assure Educare 21 is open to children between 0 years and 11 years of age.