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A smart way of creating wealth is converting your savings into gains.
A wide range of investments is available in the market to convert your savings into wealth.
Tata AIA has introduced a Life Insurance Plan called Wealth Pro which claims to help you grow your savings into wealth.
Let us uncover the truth behind this claim in this article with an in-depth Comparative IRR analysis.
Table of Contents:
1.)What is Tata AIA Life Insurance Wealth Pro Plan?
2.)Features of the Tata AIA Life Insurance Wealth Pro Plan
3.)Eligibility Criteria for the Tata AIA Life Insurance Wealth Pro Plan
4.)Benefits under the Tata AIA Life Insurance Wealth Pro Plan
- Maturity Benefits
- Death Benefit
- Loyalty Additions
5.)Investment Avenues & Fund options of the Tata AIA Life Insurance Wealth Pro Plan
6.)Other Benefits of the TATA AIA Life Insurance Wealth Pro Plan
7.)Various Charges under the Tata AIA Life Insurance Wealth Pro Plan
8.)Grace Period, Discontinuance & paid-up, Revival of the Tata AIA Life Insurance Wealth Pro Plan
9.)Free look-Up period of the Tata AIA Life Insurance Wealth Pro Plan
10.) Surrendering the Tata AIA Life Insurance Wealth Pro Plan
11.) Advantages of the Tata AIA Life Insurance Wealth Pro Plan
12.)Disadvantages of the Tata AIA Life Insurance Wealth Pro Plan
13.)Research Methodology
14.)IRR Analysis of the Tata AIA Life Insurance Wealth Pro Plan
15.) Tata AIA Life Insurance Wealth Pro Plan Vs. Other Investment Choices
16.) Tata AIA Life Insurance Wealth Pro Plan Vs. Pure Term Insurance + PPF / ELSS
17.)Final verdict on the Tata AIA Life insurance Wealth Pro Plan
What is Tata AIA Life Insurance Wealth Pro Plan?
Tata AIA Life Insurance Wealth Pro Plan is a Unit Linked, Individual, Life Insurance Savings plan.
In this plan, you have the power to choose the duration of your investments as well as the premium payment term.
Savings in this plan can help you fulfil your Medium to Long Term Financial Goals.
Features of the Tata AIA Life Insurance Wealth Pro Plan
- Premium payment term as per your convenience – Single or Limited pay.
- You receive regular Loyalty Additions to boost your investments.
- For enhanced investment opportunities, you have a choice of 25 Fund options.
- Option to customize your plan with a range of riders.
- You have various investment strategies like Enhanced Systematic Money Allocation & Regular Transfer Investment Portfolio Strategy.
Eligibility Criteria for the Tata AIA Life Insurance Wealth Pro Plan
|
Minimum Issue Age (Age last birthday) |
0 years (30 days) |
|
Maximum Issue Age (Age last birthday) |
65 years |
|
Minimum Maturity Age (Age last birthday) |
18 years |
|
Maximum Maturity Age (Age last birthday) |
80 years |
|
Policy Term |
6 to 40 years |
|
Premium Paying Term |
Single Pay Limited Pay – 5 to 20 years Regular /Limited Pay – 12 to 40 years |
|
Pay Mode |
Single, Annual, Semi-Annual, Quarterly, Monthly |
|
Minimum Premium |
Single Pay – 5,00,000 Regular/Limited Pay – 2,50,000 p.a. |
|
Maximum Premium |
No Limit |
Benefits under the Tata AIA Life Insurance Wealth Pro Plan
Maturity Benefit
On survival to the end of the policy term, you will receive the Total Fund Value, a sum of Regular/ Single Premium Fund Value and Top-Up Premium Fund Value.
Death Benefit
In case of death of the Life Insured during the policy term and while the policy is in force, the Nominee/legal heir will get, Highest of;
- The Basic Sum Assured net of all “Deductible Partial Withdrawals,” if any, from the Regular/Single Premium Fund Value, or
- The Regular/Single Premium Fund Value of this Policy or
- 105 per cent of the total Regular/Single Premiums paid up to the date of death.
In addition to this: The highest of the following is also payable provided the Policyholder has a Top-up Premium Fund Value.
- The approved Top-up Sum Assured(s) or
- Top-up Premium Fund Value of this Policy or
- 105 per cent of the total Top-up Premiums paid up to the date of death.
Loyalty Additions
Regular premium – 0.20% of the units will be credited to the respective fund every year starting from the 11th policy year.
Single premium – 0.35% of the units will be credited to the respective fund every year starting from the 6th policy year.
Investment Avenues & Fund options of the Tata AIA Life Insurance Wealth Pro Plan
This investment product offers you the flexibility to invest in a manner that suits your investment risk profile and individual needs.
- You can choose from the 25 Investment Fund Options OR
- Choose the following PORTFOLIO STRATEGY – Enhanced Systematic Money Allocation & Regular Transfer (Enhanced SMART)
- 25 Fund Options
|
S.no |
Fund Name |
Risk Profile |
Asset Allocation |
||
|
Equity |
Debt |
Money Market |
|||
|
1 |
Emerging opportunities Fund |
High |
80-100% |
0-10% |
0-20% |
|
2 |
Sustainable Equity Fund |
High |
80-100% |
0-20% |
0-20% |
|
3 |
Multi Cap Fund |
High |
60-100% |
0-40% |
0-40% |
|
4 |
India Consumption Fund |
High |
60-100% |
0-40% |
0-40% |
|
5 |
Top 50 Fund |
High |
60-100% |
– |
0-40% |
|
6 |
Top 200 fund |
High |
60-100% |
– |
0-40% |
|
7 |
Super Select Equity Fund |
High |
60-100% |
0-40% |
0-40% |
|
8 |
Large Cap Equity Fund |
High |
80-100% |
– |
0-20% |
|
9 |
Whole Life Mid-Cap Equity Fund |
High |
60-100% |
– |
0-40% |
|
10 |
Dynamic Advantage Plan |
Medium |
20-80% |
20-80% |
0-20% |
|
11 |
Whole Life Aggressive Growth Fund |
Medium to High |
50-80% |
20-50% |
0-30% |
|
12 |
Whole Life Stable Growth Fund |
Low to Medium |
30-50% |
50-70% |
0-20% |
|
13 |
Whole Life Income Fund II |
Low |
– |
60-100% |
0-40% |
|
14 |
Whole Life Short-term Fixed Income Fund |
Low |
– |
60-100% |
0-40% |
|
15 |
Flexi Growth Fund |
High |
70-100% |
0-10% |
0-30% |
|
16 |
Constant Maturity Fund |
Medium |
– |
80-100% |
0-20% |
|
17 |
Target Maturity Fund |
Medium |
– |
80-100% |
0-20% |
|
18 |
Small Cap Discovery Fund |
High |
70-100% |
0-10% |
0-30% |
|
19 |
Business Cycle Fund |
High |
70-100% |
0-30% |
0-30% |
|
20 |
Rising India Fund |
High |
70-100% |
0-30% |
0-30% |
|
21 |
Midcap Momentum Index Fund |
High |
NA |
NA |
NA |
|
22 |
Flexi Growth Fund II |
High |
70-100% |
0-10% |
0-30% |
|
23 |
Whole Life Income Fund |
Low |
– |
60-100% |
0-40% |
|
24 |
Nifty Alpha 50 Index Fund |
High |
80-100% |
– |
0-20% |
|
25 |
Multicap Momentum Quality Index Fund |
High |
80-100% |
– |
0-20% |
|
Govt Sec |
Money market |
||||
|
Discontinued policy fund |
60-100% |
0-40% |
|||
Enhanced SMART option:
Under the Enhanced SMART option, the policyholder has the option to choose two funds: a debt-oriented fund and an equity-oriented fund. Please refer to the table below for the choice of available funds:
|
Debt-oriented funds |
Equity-oriented funds |
|
Whole Life Income Fund |
Emerging Opportunities Fund |
|
Whole Life Short-Term |
Sustainable Equity Fund |
|
Fixed Income Fund |
Large Cap Equity Fund |
|
Constant Maturity Fund |
Whole Life Mid Cap Equity Fund |
|
Target Maturity Fund |
Multi Cap Fund |
|
Whole Life Income Fund II |
India Consumption Fund |
|
Top 50 Fund |
|
|
Top 200 Fund |
|
|
Super Select Equity Fund |
|
|
Flexi Growth Fund |
|
|
Small Cap Discovery Fund |
|
|
Business Cycle Fund |
|
|
Rising India Fund |
|
|
Midcap Momentum Index Fund |
|
|
Flexi Growth Fund II |
|
|
Nifty Alpha 50 Index Fund |
|
|
Multicap Momentum Quality Index Fund |
Here, the entire annual/single allocable premium will be parked in the chosen debt-oriented fund and then it will be systematically transferred into the equity fund that the policyholder chooses.
Other Benefits of the TATA AIA Life Insurance Wealth Pro Plan
The flexibility of Partial Withdrawals:
There are 4 partial withdrawals allowed per year. The minimum partial withdrawal amount is Rs. 5000 per year.
The flexibility of Top-ups:
Each top-up premium has 5 years lock-in period. It is not allowed during the last 5 years of the policy term. The policyholder can top up their premium 4 times per year. The minimum top-up premium amount is Rs. 5000.
Top-up Sum Assured:
The policyholder can increase their sum assured when they top up their premium.
Top-up Sum Assured = 1.25 * Top-up premium
The flexibility of Premium Mode:
The policyholder can pay their premium on yearly, half-yearly, quarterly, and monthly modes.
Monthly Premium = 0.0833 of Annualized Premium,
Quarterly Premium = 0.25 of Annualized Premium,
Semi-annual premium = 0.50 of Annualized Premium
Settlement option:
You have the option to receive the maturity amount either in a lump sum or in instalments over a period of five years from the date of maturity.
The flexibility of Additional Coverage:
The policyholder has the option to choose the optional riders.
- Tata AIA Life Insurance Waiver of Premium (Linked) Rider
- Tata AIA Life Insurance Waiver of Premium Plus (Linked) Rider
- Tata AIA Life Insurance Accidental Death and Dismemberment (Long Scale) (ADDL) Linked Rider
Single premium policyholders have an additional option to choose from.
Tata AIA Life Insurance Accidental Death and Dismemberment (Long Scale) (ADDL) Linked Rider.
Various Charges under the Tata AIA Life Insurance Wealth Pro Plan
Premium Allocation Charges:
| Premium Allocation Charge as a % of Annualised Premium | ||
| Premium Payment Term | % of Annualised Premium | |
| < 5,00,000 | >=5,00,000 | |
| 1 | 6.00% | 5.5% |
| 2 | 5.50% | 5.0% |
| 3 to 5 | 5.00% | 4.5% |
| 6 to 7 | 4.00% | 3.5% |
| 8 to 10 | 3.00% | 2.5% |
| 11th year onwards | 1.50% | 1.0% |
| Single pay | 3% of Single Premium | |
| Top-up premium | 1.5% of top-up premium | |
Policy Administration Charge:
For Single Pay Option – 0.90% p.a. of Single Premium throughout the policy term
For Regular / Limited Pay Option – 0.75% p.a. of Annualised premium throughout the policy term
Fund Management Charges:
|
Sr. No |
Fund Name |
Fund Management Charge per annum |
|
1 |
Multi Cap Fund |
1.20% |
|
2 |
India Consumption Fund |
1.20% |
|
3 |
Top 50 fund |
1.20% |
|
4 |
Top 200 fund |
1.20% |
|
5 |
Super Select Equity Fund |
1.20% |
|
6 |
Large Cap Equity Fund |
1.20% |
|
7 |
Whole Life Mid-cap Equity Fund |
1.20% |
|
8 |
Whole Life Aggressive Growth Fund |
1.10% |
|
9 |
Whole Life Stable Growth Fund |
1.00% |
|
10 |
Whole Life Income Fund |
0.80% |
|
11 |
Whole Life Short Term Fixed Income Fund |
0.65% |
|
12 |
Emerging Opportunities Fund |
1.20% |
|
13 |
Sustainable Equity Fund |
1.20% |
|
14 |
Dynamic Advantage Fund |
1.20% |
|
15 |
Flexi Growth Fund |
1.20% |
|
16 |
Constant Maturity Fund |
0.80% |
|
17 |
Target Maturity Fund |
0.80% |
|
18 |
Small Cap Discovery Fund |
1.20% |
|
19 |
Business Cycle Fund |
1.20% |
|
20 |
Rising India Fund |
1.20% |
|
21 |
Midcap Momentum Index Fund |
1.20% |
|
22 |
Flexi Growth Fund II |
1.35% |
|
23 |
Whole Life Income Fund II |
1.35% |
|
24 |
Nifty Alpha 50 Index fund |
1.35% |
|
25 |
Multicap Momentum Quality |
1.35% |
Mortality Charge:
Mortality charge = Sum at Risk (SAR) multiplied by the appropriate Mortality Rate for the month, calculated using the Life Assured’s age achieved.
| Sample Age | Mortality Charges per 1000 Sum at Risk (Rs) (per annum) | |
| 25 | 1.088 | |
| 35 | 0.99 | |
| 45 | 1.973 | |
| 55 | 4.929 | |
Discontinuance charges:
The discontinuance charge depends on the year of discontinuance, premium amount & premium paying term. There is no discontinuance charge after the 5th policy year.
Partial Withdrawal Charge:
There is no partial withdrawal charge.
Fund Switching Charge:
There are 12 switching charges free per policy term after that the policyholder needs to pay Rs. 100 per switch.
Premium Re-direction Charge:
There is no Premium Re-direction Charge.
Insight on Charges:
The plan levies charges, so your premium is invested after the deduction of these charges. This in turn affects your yield. When other market-related products have an inflation-beating return, the charges under ULIPs make them unattractive among their competitors.
A Grace Period, Discontinuance & paid-up, Revival of the Tata AIA Life Insurance Wealth Pro Plan
Grace period:
A Grace Period of 30 days (15 days for monthly mode) from the due date of the first unpaid premium will be allowed.
Discontinuance & Paid-up:
Discontinuance of payment of premium during first five policy years (Lock-in Period) – Upon the expiry of the grace period, the Fund Value, by the creation of units will be credited into the Discontinued Policy Fund after deducting applicable Discontinuance Charges.
The risk cover under the policy will stop and no further charges will be levied other than the Fund Management Charge. During this period, the Policyholder shall not be allowed to exercise Switches or Partial Withdrawals
Discontinuance of payment of premium post first five policy years (i.e., after the expiry of the Lock in Period) – the policy shall be converted into a reduced paid-up policy with the paid-up sum assured i.e., current sum assured multiplied by the total number of premiums paid to the original number of premiums payable as per the terms and conditions of the policy.
Revival:
You will have the Revival Period of three years from the Date of Discontinuance to revive your policy.
Free look-Up period of the Tata AIA Life Insurance Wealth Pro Plan
If you disagree with the terms and conditions of the Tata AIA Life Insurance Wealth Pro Policy, you can return the policy.
within 30 days beginning from the date of receipt of the Policy Document, whether received electronically or otherwise.
Surrendering the Tata AIA Life Insurance Wealth Pro Plan
You have the right to surrender the policy at any time during the Policy Term. The surrender benefit is equal to the Fund Value less than the applicable surrender/discontinuance charges.
Within the lock-in period (before 5 years): the surrender value i.e. the fund value less applicable discontinuance charges as on the date of discontinuance shall be credited to the ‘Discontinued Policy Fund’ and it shall be paid to the Policyholder after completion of the lock-in period.
After the Lock-in Period (after 5 years): the total fund value as on the date of complete withdrawal shall be paid to the Policyholder.
Advantages of the Tata AIA Life Insurance Wealth Pro Plan
- You have the option to choose from 25 funds.
- Top-up premiums increase the value of your investment.
- The addition of loyalty will increase the fund’s worth.
- Flexibility of additional coverage through riders.
- There are no fees for Switching funds, partial withdrawals, and premium redirection.
- The SMART method safeguards the entire investment from market volatility.
- Settlement option can be exercised for maturity benefit.
Disadvantages of the Tata AIA Life Insurance Wealth Pro Plan
- No liquidity during the lock-in period of 5 years.
- The loan option is not available.
- The premium will be invested in funds after deducting the charges.
For further details, refer to the Tata AIA Life Insurance Wealth Pro Policy Brochure.
Research Methodology
Any life insurance policy would be beneficial to you, only if it provides you with adequate life cover. Any investment would be beneficial only if the return is better than the inflation rate.
To analyze these two components of the Tata AIA Life Insurance Wealth Pro plan, a benefit illustration is generated from the Tata AIA Website Portal. We can calculate the Internal Rate of return of this plan & also compare the rate of return with other investments. Let’s get started.
IRR Analysis of the Tata AIA Life Insurance Wealth Pro Plan
Assumptions:
|
Male |
35 years |
|
Sum Assured |
₹ 50,00,000 |
|
Policy Term |
20 years |
|
Premium Paying Term |
10 years |
|
Annualised Premium |
₹ 5,00,000 |
The annual premium for a Sum Assured of Rs. 50 lakhs is Rs. 5 lakhs for a 35-year-old male. The policy term is 20 years & the premium paying term is 10 years.
The fund value at the end of 20 years is calculated based on the assumption that the fund earns a gross return of 8% or 4% at the best and worst-case scenarios respectively. Please note that the actual returns can vary depending on the performance of the chosen fund option.
|
At 4% p.a. |
At 8% p.a. |
||||
|
Age |
Year |
Annualised premium / Maturity benefit |
Death benefit |
Annualised premium / Maturity benefit |
Death benefit |
|
35 |
1 |
-5,00,000 |
50,00,000 |
-5,00,000 |
50,00,000 |
|
36 |
2 |
-5,00,000 |
50,00,000 |
-5,00,000 |
50,00,000 |
|
37 |
3 |
-5,00,000 |
50,00,000 |
-5,00,000 |
50,00,000 |
|
38 |
4 |
-5,00,000 |
50,00,000 |
-5,00,000 |
50,00,000 |
|
39 |
5 |
-5,00,000 |
50,00,000 |
-5,00,000 |
50,00,000 |
|
40 |
6 |
-5,00,000 |
50,00,000 |
-5,00,000 |
50,00,000 |
|
41 |
7 |
-5,00,000 |
50,00,000 |
-5,00,000 |
50,00,000 |
|
42 |
8 |
-5,00,000 |
50,00,000 |
-5,00,000 |
50,00,000 |
|
43 |
9 |
-5,00,000 |
50,00,000 |
-5,00,000 |
50,00,000 |
|
44 |
10 |
-5,00,000 |
50,00,000 |
-5,00,000 |
50,00,000 |
|
45 |
11 |
0 |
50,00,000 |
0 |
50,00,000 |
|
46 |
12 |
0 |
50,00,000 |
0 |
50,00,000 |
|
47 |
13 |
0 |
50,00,000 |
0 |
50,00,000 |
|
48 |
14 |
0 |
50,00,000 |
0 |
50,00,000 |
|
49 |
15 |
0 |
50,00,000 |
0 |
50,00,000 |
|
50 |
16 |
0 |
50,00,000 |
0 |
50,00,000 |
|
51 |
17 |
0 |
50,00,000 |
0 |
50,00,000 |
|
52 |
18 |
0 |
50,00,000 |
0 |
50,00,000 |
|
53 |
19 |
0 |
50,00,000 |
0 |
50,00,000 |
|
54 |
20 |
0 |
50,00,000 |
0 |
50,00,000 |
|
55 |
68,33,240 |
1,24,47,444 |
|||
|
IRR |
2.02% |
5.97% |
|||
Based on the return assumption of 4%, the IRR is 2.02% & the 8% return is 5.97%. Even in the best-case scenario, the policy is not able to deliver a fixed instrument return. The fund value at the end of 20 years is the pre-tax amount.
The Finance Act, 2021, introduced certain provisions through amendments to Section 10(10D) and the applicability is from February 1, 2021. For the policies issued on or after February 1, 2021, having a premium of Rs 2.5 lakh or more for any of the previous years, then the amount received (including the bonus) at the time of maturity will be taxable.
So, the post-tax IRR will be even lower than what we see in the table. On the whole, Tata AIA Wealth Pro is not beneficial for an investor.
Tata AIA Life Insurance Wealth Pro Plan Vs. Other Investment Choices
An analogy with other Investments is to give an idea of what other Investment Opportunities you have in the market & what would be the probable return from those investments.
The Sum Assured in the above illustration is Rs. 50 Lakhs for a 35-year-old male for a 20-year Policy Term. For comparison, the same figures can be assumed in the alternate Investment Option as well.
Tata AIA Life Insurance Wealth Pro Plan Vs. Pure Term Insurance + PPF / ELSS
|
Pure Term Life Insurance Policy |
|
|
Sum Assured |
₹ 50,00,000 |
|
Policy Term |
20 years |
|
Premium Paying Term |
10 years |
|
Annualised Premium |
₹ 12,700 |
|
Investment |
₹ 4,87,300 |
A Pure Term Insurance for a Sum Assured of Rs. 50 lakhs would cost just Rs. 12,700 p.a. So, the balance amount of Rs. 4,87,300 can be invested for wealth accumulation purposes similar to the Tata AIA wealth Pro Plan. So, that life cover & investment – both the benefits could be achieved.
|
Term Insurance + PPF |
Term insurance + ELSS |
||||
|
Age |
Year |
Term Insurance premium + PPF |
Death benefit |
Term Insurance premium + ELSS |
Death benefit |
|
35 |
1 |
-5,00,000 |
50,00,000 |
-5,00,000 |
50,00,000 |
|
36 |
2 |
-5,00,000 |
50,00,000 |
-5,00,000 |
50,00,000 |
|
37 |
3 |
-5,00,000 |
50,00,000 |
-5,00,000 |
50,00,000 |
|
38 |
4 |
-5,00,000 |
50,00,000 |
-5,00,000 |
50,00,000 |
|
39 |
5 |
-5,00,000 |
50,00,000 |
-5,00,000 |
50,00,000 |
|
40 |
6 |
-5,00,000 |
50,00,000 |
-5,00,000 |
50,00,000 |
|
41 |
7 |
-5,00,000 |
50,00,000 |
-5,00,000 |
50,00,000 |
|
42 |
8 |
-5,00,000 |
50,00,000 |
-5,00,000 |
50,00,000 |
|
43 |
9 |
-5,00,000 |
50,00,000 |
-5,00,000 |
50,00,000 |
|
44 |
10 |
-5,00,000 |
50,00,000 |
-5,00,000 |
50,00,000 |
|
45 |
11 |
0 |
50,00,000 |
0 |
50,00,000 |
|
46 |
12 |
0 |
50,00,000 |
0 |
50,00,000 |
|
47 |
13 |
0 |
50,00,000 |
0 |
50,00,000 |
|
48 |
14 |
0 |
50,00,000 |
0 |
50,00,000 |
|
49 |
15 |
0 |
50,00,000 |
0 |
50,00,000 |
|
50 |
16 |
0 |
50,00,000 |
0 |
50,00,000 |
|
51 |
17 |
0 |
50,00,000 |
0 |
50,00,000 |
|
52 |
18 |
0 |
50,00,000 |
0 |
50,00,000 |
|
53 |
19 |
0 |
50,00,000 |
0 |
50,00,000 |
|
54 |
20 |
0 |
50,00,000 |
0 |
50,00,000 |
|
55 |
1,43,84,661 |
2,66,53,213 |
|||
|
IRR |
6.93% |
11.08% |
|||
A risk-averse investor can choose PPF for Investment & those who have a long time frame to achieve their financial goals & ready to take risks can opt for the ELSS Mutual Fund option. The IRR under both scenarios is beneficial to you as it is greater than the inflation rate.
The IRR for the Pure Term + PPF combo is 6.93% & for the Pure Term + ELSS combo is 11.08% (post-tax return). Here an important point to be noted is, the fund value mentioned is post-tax.
|
ELSS Tax Calculation |
|
|
Maturity value after 20 years |
2,97,46,815 |
|
Purchase price |
48,73,000 |
|
Long-Term Capital Gains |
2,48,73,815 |
|
Exemption limit |
1,25,000 |
|
Taxable LTCG |
2,47,48,815 |
|
Tax paid on LTCG |
30,93,602 |
|
Maturity value after tax |
2,66,53,213 |
The earlier illustration of Tata AIA Wealth Pro Plan doesn’t consider the tax on maturity proceeds. Finally, after analyzing the IRR & comparing it with another investment avenue, it shows that the Tata AIA Wealth Pro Plan can’t help you in your Wealth Creation Process.
Final verdict on the Tata AIA Life insurance Wealth Pro Plan
An investment should always make your wealth keep pace with your financial dreams. This Tata AIA Wealth Pro Plan fails to fulfil your financial dreams by not generating an inflation-beating return for a policy term of 15 years.
As the plan is not lucrative in terms of return, the plan can’t be a part of your investment portfolio. The reason behind this low return is, that the charges under the plan & the tax exemption on maturity proceeds will not be applicable for policies exceeding the threshold of Rs. 2.5 lakh premium per annum.
Alternative investment options which are beneficial for you are taking a combination of Pure Term Insurance for life cover & investing your surplus for your life’s financial goals. This option would be more lucrative in terms of return than an insurance cum investment product.
You can always consult with your Financial Advisor to customize your Financial Plan and achieve better results with your Wealth Building Process.
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