The newly launched linked insurance product called Investshield is one of the major breakthroughs in the insurance industry since it seeks to protect the immediate and distant financial needs of the subscribers. #Investshield is a kind of unique online linked plan meant for customers who wish to find a hassle free online policy buying convenience.
This feature rich product with its top specialty being the premium funding option means that upon the death of the insured, the company will not only make the immediate benefit payout which is higher of the sum assured or 105% of the premium paid, it will also fund the remaining premiums for the full remaining policy term and pay the fund value on maturity to the beneficiaries. Therefore the subscribers have the twin benefits of a protection cover as well as wealth accumulation.
The policy can be purchased in a highly convenient online channel through a simple and user friendly process. The customer also gets to enjoy a greater flexibility of multiple funds and other conveniences like switching between funds and systematic investment.
The multiple advantages of this plan have allured especially the young subscribers since the plan has so much to offer than the conventional and existing plans in the market. The plan features a great amount of flexibility giving room for customizing. Throughout the premium payment term, zero premium allocation charge applies. In order to match the risk appetite, the choice of investment funds ranges from 0 percent to 100 percent equity exposure. Premium waiver benefits can benefit the children.
Over the last four years of the policy, the subscribers can exercise safe switch option to relatively lower risk liquid fund to prevent market movements. The liquidity gained by virtue of partial withdrawals can help meet the unexpected financial requirements. The subscribers will also get attractive tax benefits on the premiums paid and also on all the benefits received during the policy term under section 80C and section 10 (10D) of the 1961 Income Tax Act which is amended time and again. Therefore in every regard, Investshield is a highly compelling kind of policy.