Tata AIA Life Insurance today launched 'Suraksha Kosh', a non-participating market-linked endowment plan for protection against premature death, living post an accident and critical illness or surgery.
"Suraksha Kosh provides to customers to get the best from their investments on a unit-linked platform as also meet their desired saving goal without worrying about the risk of death, dismemberment and onslaught of medical exigency like a critical illness," company's managing director Suresh Mahalingam said in a release issued here.
It is a unit-linked plan where death benefit is enhanced by a combination of sum assured plus the total fund value.
Suraksha Kosh offers the customers the opportunity to choose from a range of eight investment funds as per their risk profiles.
It offers a flexible policy term from 15 to 40 years and is available to individuals from the age 18 to 50 years with maximum maturity age of 65.
Its premiums paid are eligible for tax benefits.
Tata AIA Life is a joint venture between Tata Sons and AIA Group.