April 13, 2010 | The Economic Times

Tata-AIG Life unveils 'NAV guaranteed' pension plan

Tata AIG Life Insurance has announced the launch of Apex Pension Plans — four unit-linked pension plans that come with the ‘Guaranteed Maturity Unit Price’ (GMUP) feature, which enables the policyholders to earn returns based on the highest NAV per unit achieved on the reset dates.
The policyholder’s premium is allocated in the respective ‘Investment Fund’ from where the money is transitioned to the respective Return Lock-in Fund on the immediate next reset date. According to the official release, while the investment fund’s objective is to provide capital protection through investment in quality short-term debt, the latter aims to invest in a diversified equity portfolio of large-cap companies to generate capital appreciation, and use debt instruments to lock in the same.
The NAV per unit of this fund will be noted at every reset date for calculating the GMUP. The policyholders can, depending upon their age, planned retirement age and financial requirement, choose from four plans — Apex Pension, Apex Pension 10, Apex Pension 15 and Apex Pension 20. For all these variants, the minimum annualised premium is Rs 48,000.