Mumbai: Tata AIG Life Insurance Company on Tuesday announced the launch of its first pure pension plan.

InvestAssure Future, a unit-linked plan, is designed to help the customer meet his/her needs of capital accumulation to plan for a secure retired life, a release from the private insurance firm said here.

The plan comes in two options where a customer can find future retirement needs by paying either a single or regular premium. The customer will also receive a guaranteed bonus at maturity that will further augment his total retirement kitty, the release said.

The policy-holder can choose from a spread of five fund options - Future Equity Pension Fund, Future Income Pension Fund, Future Capital Guaranteed Pension Fund, Future Growth Pension Fund and Future Balanced Pension Fund.

Tata AIG Life's Chief Distribution Officer Joydeep Roy said, "retirement planning is the single most significant savings need of customers today...InvestAssure will help our customers plan a financially secure future."

Customers can avail of this policy starting from 18 years till 65 years of age in case of regular premium and 70 years in case of single premium.

The minimum annual premium amount in case of regular premium payment option is Rs 10,000 and under single premium payment option, it is Rs 25,000.

Source : PTI