Tata AIA Life Insurance has launched a new service through which policy holders can avail instant loan of up to Rs 1 lakh. This service allows customers to avail advanced loan against their insurance policy without losing coverage. The company has said that this loan can be easily availed through MyDigiAccount portal. Through this, the loan amount will be deposited in the customer’s account within 1 minute. However, policy holders will be able to avail loan only on select life insurance policies. This loan is available without collateral and credit check Tata AIA Life Insurance said that this service has been designed to provide instant loan with minimum paperwork. In this, loan will be available at an annual interest rate of 10.80%. No collateral and credit check is required to avail loan in this. Tata AIA Life Insurance’s AUM crossed ₹ 1 lakh crore in April In April 2024, Tata AIA Life Insurance had reported that its asset under management (AUM) has crossed ₹ 1 lakh crore. The company has doubled its AUM from ₹50,000 crore (August 2021) to ₹1 lakh crore in less than 3 years. This strong growth has been driven by strong individual new business premium (IWNBP), income growth and better investment performance. 3 benefits of taking a loan against insurance policy
