Tata AIA Life Insurance has launched Tata AIA Shubh SIP, a unit-linked insurance plan (ULIP) that combines market-linked wealth creation, family protection and retirement planning in one flexible solution. The plan is also available digitally through Policybazaar.
Designed to adapt to changing financial priorities, Shubh SIP offers market-linked investment opportunities, Loyalty Additions and Maturity Boosters, subject to policy terms and conditions.
Jeelani Basha, Chief Business Officer – Partnership Distribution and Group Business, Tata AIA Life Insurance, said, “Financial priorities do not remain constant throughout life. The need today may be wealth creation, tomorrow it may be protecting family responsibilities, and later it may be creating a steady income during retirement. With Tata AIA Shubh SIP, our aim was to bring these evolving needs together within one flexible solution, enabling individuals to continue their financial journey without having to start again at every stage of life.”
The plan offers Waiver of Premium benefits, including 1X, 2X and 3X options, to support continued investment following a covered event. It also includes a Family Income Continuation Benefit to provide additional monthly income to dependents.
For retirement planning, the Retirement/Whole Life option allows policyholders to initiate an automatic Systematic Withdrawal Plan (SWP) from age 60, choosing withdrawals as a fixed amount or a percentage of fund value. Partial withdrawals and an Automatic Partial Withdrawal Facility provide additional flexibility.
Nominee Continuation Rights allow nominees to manage permitted policy features following the Life Assured’s death, subject to applicable terms.
Vivek Jain, Chief Business Officer – Life Insurance, Policybazaar.com, said, “Individuals today are looking for financial solutions that address their diverse needs and aspirations across different life stages. Tata AIA Shubh SIP brings together wealth creation, protection and retirement planning within one proposition. The enhanced Waiver of Premium options, including 1X, 2X and 3X benefits, help keep long-term goals on track even in the policyholder’s absence. Through this partnership, we are pleased to offer individuals a digital platform to explore a solution designed for their long-term financial journey.”
The plan also offers nominee settlement options over 15, 20, 25 or 30 years, subject to policy terms and conditions.
