Tata AIA Life Insurance Launches 'Shubh Muhurat' Plan to Tackle Rising Wedding Costs
| Aspect | Details |
|---|---|
| Product Name | Shubh Muhurat |
| Purpose | To help families financially prepare for their children's weddings |
| Target Audience | Parents aged 31-50 years with children aged 1-20 years |
| Key Features | - Capital Guarantee with Equity Exposure |
| - Benefit Protection Rider (waives future premiums on policyholder's death) | |
| - Tax Benefits on premiums and policy payouts | |
| Market Context | - India's wedding industry valued at ₹10.7 lakh crore in 2024 |
| - Average wedding cost: ₹12.5 lakh | |
| - Over 80 lakh weddings in 2024 | |
| Strategic Implications | - Tata AIA Life Insurance aims to capture a share of the wedding market |