“Tata AIA Life Launches ‘Shubh Muhurat’ to Help Families Plan Dream Weddings”

Varahi media.com online news,Mumbai,24th January 2025: Weddings in India are more than just ceremonies; they are grand celebrations of love, culture, and tradition, marking one of the most

Varahi media.com online news,Mumbai,24th January 2025: Weddings in India are more than just ceremonies; they are grand celebrations of love, culture, and tradition, marking one of the most significant milestones in a family’s life. With weddings often involving lavish themes, destination venues, and multi-day festivities, the financial burden can be overwhelming.

Recognizing the need for meticulous long-term planning, Tata AIA Life Insurance has launched ‘Shubh Muhurat’, an innovative life insurance solution designed to help families save for their children’s dream weddings while providing financial security and stability.

Shubh Muhurat offers a disciplined, goal-based savings approach, combining capital guarantee, equity exposure, and life insurance benefits. It ensures that wedding aspirations are achieved, even in unforeseen circumstances, securing the family’s financial future.

A recent report by Jefferies highlights that India hosted over 80 lakh weddings in 2024, making it the second-largest wedding market globally, with a staggering expenditure of INR 10.7 lakh crore. On average, Indian weddings cost INR 12.5 lakh, significantly more than the expense of education from preschool to graduation.

Luxury weddings, with expenses often exceeding INR 1 crore, dominate the market, making early financial planning essential. While traditional savings methods like gold and fixed deposits have been popular, they lack flexibility and significant wealth growth. Shubh Muhurat bridges this gap, offering a modern solution for families aspiring to host grand celebrations without financial stress.

  1. Planned Payouts for Wedding Expenses: Covers major expenses such as venue booking, jewellery, outfits, food, and guest accommodation, ensuring funds are available when needed.
  2. Capital Guarantee with Equity Exposure: Protects premium payments while allowing for market-linked growth, ensuring financial security even amidst market fluctuations.
  3. Long-Term Wealth Growth: Helps parents build a substantial corpus over time to meet extravagant wedding aspirations like destination weddings or luxury arrangements.
  4. Exclusive Protection under MWPA: Safeguards policy proceeds under the Married Women’s Property Act (MWPA), ensuring the funds are legally protected for the nominee.
  5. Benefit Protection Rider: Includes immediate death benefit, premium waivers, and assured maturity benefits for the child’s wedding, even in the absence of the policyholder.

Commenting on the launch, Venky Iyer, MD & CEO of Tata AIA, said:
“A wedding is not just a celebration but an emotional milestone for families. With Shubh Muhurat, we aim to help parents plan well in advance, ensuring they can create cherished memories without financial worries. Even in unforeseen circumstances, this solution guarantees that wedding goals are protected, empowering families to celebrate confidently.”

Shubh Muhurat is tailored for parents aged 31–50 years with children between 1–20 years, offering ample time to accumulate funds for a grand wedding.

In addition to Shubh Muhurat, Tata AIA has introduced ‘Shubh Fortune’, a comprehensive financial solution for achieving various life goals, including wealth creation, education planning, and homeownership. Together, these offerings embody Tata AIA’s brand promise of helping families be “Har Waqt Ke Liye Taiyaar” (Prepared for Every Moment).

With these innovative solutions, Tata AIA reaffirms its commitment to supporting Indian families in celebrating life’s most meaningful moments without financial compromise.

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