June 20, 2011 | The Economic Times

ULIP Review TATA AIG Invest Assure Plus Supreme

Excerpts:

A cost-efficient plan with guaranteed benefit
 
Product Details
 
TATA AIG Invest Assure Plus Supreme is a single premium Type I unit-linked insurance plan (Ulip) that offers higher of the sum assured or fund value as death benefit. This plan offers two investment strategies SMART and AAA that protect investors from market volatility and change in risk appetite due to age, respectively. Investors have seven investment options to choose from based on their risk profile.
 
Our View
 
TATA AIG Invest Assure Plus Supreme is cost-efficient and its funds have managed fair returns. But single-premium plans are generally not for insurance purpose as the death cover offered is very low. Therefore, those interested in insurance should try term insurance or regular premium plans which give higher death cover.
 
Unique Feature
 
The scheme is cost-efficient when compared to peers in the category. It also provides a guaranteed maturity benefit of 5%.
 
For Existing Customers
 
Those already invested should hold on to the plan. Investors with high risk-return appetite may switch to Whole Life Aggressive Growth Fund as this scheme performed well. Even the debt funds of TATA AIG have faired well, beating their benchmarks with decent margins.