Tata AIG Life launches unit linked endowment insurance plan Gyan Kosh

June 15, 2011 - PRLog -- Tata AIG Life Insurance Company Limited today announced the launch of Tata AIG Life Insurance Gyan Kosh, a non-participating unit linked endowment insurance plan. The plan comes with in-built benefits to ensure financial protection of one’s goals for children’s education, important milestones of life like marriage, providing funds for setting up a business etc.

The plan offers a choice of two inbuilt protection options for the prospective customer to ensure the protection of their financial goals - Security Net and Safety Net. Both these options have inbuilt Waiver of Premium benefit that waives all future premiums payable under the plan in case of death or total permanent disability of the insured.

In case of Safety Net a sum assured is paid to the nominee on death of the life assured, future premiums are waived and the policy benefits continue.

Incase of Security Net, in addition to the sum assured getting paid to the nominee on death of the life assured and future premiums getting waived, the inbuilt “Family Income Benefit” also gets triggered. The “Family Income Benefit” pays a re-adjustment income of 1% of sum assured to the family for the next 100 months or end of the policy term, whichever is earlier, in case of death or total permanent disability of the insured.

Under both the options, the Total Fund Value is paid to the policyholder (in case of total permanent disability and survival till maturity) or the nominee (in case of death of life assured) on maturity.

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