TATA AIA Life Insurance has introduced the Smart Pension Secure Plan, an innovative unit-linked pension plan (ULIP) designed to meet the evolving retirement needs of modern professionals and digital-savvy consumers.
From creating secondary income sources to securing retirement savings, this plan offers financial stability and independence for individuals seeking a well-structured retirement strategy.
Key features of the plan include:
- Early retirement planning: Provides complete flexibility to retire as early as 45 years of age.
- Market-linked returns: Offers investment opportunities across multiple funds, including an option to allocate 100% of funds into equities for potential high returns. Investors can seamlessly switch between funds any number of times without incurring additional charges.
- Personalised investment choices: Allows policyholders to invest their entire premium in funds of their choice, ensuring capital growth and a secure future.
- Exclusive online benefits: Customers purchasing the policy online will receive additional fund boosters and loyalty additions to enhance their investment value.
- Healthcare privileges: The plan includes access to the Health Buddy Service, offering attractive discounts on pharmacy purchases and diagnostic tests. Additionally, by opting for the Customer Health Secure Rider, policyholders can avail of OPD (Outpatient Department) services.
- Tax benefits: Eligible for tax savings under Section 80CCC. Upon maturity, 60% of the lump sum payout is tax-free.
- Additional protection coverage: Features a built-in premium waiver option to safeguard the family's financial needs in case of unforeseen circumstances.
The Smart Pension Secure Plan is tailored to suit different customer needs and is available in two variants:
- Smart Pension Secure; and
- Smart Pension Secure Plus.
With its market-linked growth potential, healthcare benefits, and flexible investment options, the TATA AIA Smart Pension Secure Plan is an ideal solution for individuals looking to build a financially independent and stress-free retirement, reported Sakshi Post.