TATA AIG Life has launched InvestAssure Superstar, a unit-linked child plan, aimed at providing for children's education. Under this scheme, in the event of the parent's (proposer's) demise, besides paying the sum assured to the nominee, the insurance company will take care of the future premiums through the in-built Waiver of Premium (WOP) benefit.
At maturity, the fund value will be made available to the nominee. The plan offers the policy holder two options of WOP to choose from: Family Guard — where the company will pay 100% of the future premiums into the policy — and Family Advantage, where the company will pay 50% of future premiums paid into the policyholder's fund and 50% to the policyholder/nominee. The plan comes with eight fund options.