Ian J-Watts, managing director, Tata AIG Life Insurance Company Ltd said, "Our unit linked insurance plan, InvestAssure has been well received since its launch earlier this year. It has emerged as an ideal investment vehicle as it empowers the policyholder to optimise their returns and at the same time not compromise on the security that every investor / insured would want to provide to their loved ones. With the launch of five powerful rider options, we have further enhanced InvestAssure."

InvestAssure is the most flexible unit-linked insurance plan in the market today that gives investors the flexibility to choose the amount of life cover (50 per cent or 100 per cent of the premium multiple), investment fund and also the flexibility to top their investments (single top-up premium or regular top-up premium) at any-time during the life of the plan.

Tata AIG Life avails non-discretionary investment advisory services of Franklin Templeton Investments (India) on its unit-linked insurance plan (under the portfolio management services license).

With the launch of these riders on 'InvestAssure', Tata AIG Life offers the insured the option of availing a plethora of additional risk cover benefits. By paying a nominal additional premium, the insured can choose to buy from any of the 5- powerful rider options.

Accidental death benefit rider: Provides for an additional amount (upto a maximum of equal to the sum assured) in case of death due to an accident.

Accidental death and dismemberment rider: This coverage includes an accidental death benefit maximum (upto a maximum of equal to the sum assured) and a schedule of benefit percentages of the sum assured payable in case of accidental dismemberment or severe burns. A double indemnity is payable for certain accidental deaths as described in the contract.

Waiver of premium rider: This rider will waive future premiums of the policy to which it is attached (up to age 60) in the event of any total and permanent disability occurring to the policyholder during the policy term. The policyholder continues to enjoy coverage, as Tata AIG Life pays the premium towards the basic policy, to ensure the policy remains in force. This benefit can be availed at a low cost

Payor benefit rider (only for juvenile policies): This rider can be attached to a child policy. In the event of the premium payor's death or total and permanent disability (before reaching age 60 and before the child turns 21), all future premiums of the basic policy will be waived, until the child reaches age 21 or the premium payor reaches age 60, whichever is earlier. The basic policy will remain in force and the policyholder will continue to benefit from the returns and security of the policy

Critical illness rider: In case the policyholder is diagnosed with a critical illness or needs surgery, this benefit provides the policyholder with a lump sum amount. The benefit covers cancer, stroke, heart attack, coronary bypass surgery, kidney failure and major organ transplants. For this benefit to be payable, the insured needs to survive for at least 30 days post operation / diagnosis of the critical illness. There is a waiting period of 180 days from the date of issue of the policy after which the cover gets activated. While this benefit ceases after the policyholder makes one claim, the policyholder continues to receive the remaining benefits, provided the premiums are paid.