5 hours Ago By CNBCTV18
Tata AIA Life Insurance has launched ‘Shubh Muhurat,’ a life insurance solution designed to help families prepare financially for weddings, a major life milestone in India. The plan aims to address the rising costs of weddings by combining disciplined savings, wealth creation, and financial security. Index Fund Corner Sponsored Scheme Name 1-Year Return Invest Now Fund Category Expense Ratio Axis Nifty 50 Index Fund +32.
80% Invest Now Equity: Large Cap 0.12% Axis Nifty 100 Index Fund +38.59% Invest Now Equity: Large Cap 0.
21% Axis Nifty Next 50 Index Fund +71.83% Invest Now Equity: Large Cap 0.25% Axis Nifty 500 Index Fund -- Invest Now Equity: Flexi Cap 0.
10% Axis Nifty Midcap 50 Index Fund +46.03% Invest Now Equity: Mid Cap 0.28% India’s wedding industry, the second largest globally, hosted over 80 lakh weddings in 2024, with expenditures exceeding ₹10.
7 lakh crore, according to a report by Jefferies. The average wedding cost of ₹12.5 lakh often surpasses expenses on education.
Recognising this financial burden, Tata AIA’s new offering targets parents aged 31-50 years with children between 1-20 years, encouraging long-term financial planning. The policy provides features such as capital guarantee, market-linked investment growth, and life cover to safeguard savings in case of unforeseen events. It offers planned payouts aligned with various wedding-related expenses, including venue bookings, ceremonies, guest accommodation, and jewellery purchases.
The policy also ensures funds are legally protected under the Married Women’s Property Act (MWPA). Commenting on the launch, Venky Iyer, MD & CEO of Tata AIA Life, said, "Weddings are significant life events, and planning them requires careful financial preparation. This product ensures parents are financially prepared to fulfill their aspirations for their child’s wedding, even in challenging circumstances.
” Additional features include a benefit protection rider that waives future premiums and guarantees maturity benefits to nominees if the policyholder passes away. This ensures continuity of wedding plans without financial strain..
