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Tata AIA Life today announced the launch of its new life insurance solution Tata AIA Life Insurance Smart Growth Plus (Smart Growth Plus), a non linked participating endowment assurance plan.
The plan is designed to offer 3-2-1 benefits - Triple enhancements with one guaranteed addition and two bonuses; two times protection cover through inbuilt Accidental Death Benefit (ADB) option; and the advantage of an all-encompassing benefits under one plan.
To augment savings of the customers, Smart Growth Plus offers a guaranteed addition of 5.5% of sum assured per annum during the first five years of the policy term. The plan grows the corpus further through Compound Reversionary Bonus (CRB), which is accumulated every year from the 6th policy anniversary, and a Terminal Bonus, which is a percentage of the accrued CRB.
The customer has the choice of opting for Accidental Death benefit options that pays an additional amount equal to the Basic Sum assured in case of unfortunate death due to accident.
