JOIN USBriefing reporters, Chief Actuary Gorakhnath Agarwal, said a new fund offering — Future Opportunity Fund — has been introduced along with the Ulip which comes in five fund options.
Agarwal said the new plan is availabile in low premium ticket sizes of Rs 18,000 to 24,000 per annum which can be paid in monthly and half yearly modes, in addition to annual mode.
The minimum life cover offered is 7-10 times the annual premium and is available for customers in the age group of 7 to 60 years for terms ranging from 10 to 20 years. On maturity, the fund value will be paid to the policy holder. Under Future Opportunity Fund, 80 per cent will be invested in equities and rest in debt instruments. Tax benefits are applicable under Section 80(C) and 10 (10D), he added.