Tata AIA Life Insurance launches ‘Shubh Muhurat’ to meet wedding expenses 

Tata AIA Life Insurance has launched ‘Shubh Muhurat,’ a life insurance solution and help parents save for their child’s wedding.

A report by investment banking and capital market firm Jefferies India hosted over 80 lakh weddings last year with an estimated spend of ₹10.7 lakh crore. On average, Indian weddings cost about ₹12.5 lakh—twice as much as the expenditure on education from pre-school to graduation.

Luxury weddings dominate the market, with expenses often rising above Rs 1 crore.

Venky Iyer, Managing Director and Chief Executive Officer, Tata AIA said a marriage is not only a celebration of love and togetherness but also a testament to family aspirations and Shubh Muhurat intends to help families plan well in advance.

It also provides a solution that in the unforeseen event of the loss of life of the parent, the goal is protected, he added.

The solution is suited for parents aged between 31 and 50 years, having children in the age group of 1 to 20 years. Investing in this solution early can give the parent long enough to accumulate the desired corpus for the child’s grand wedding, said the company.

Shubh Muhurta gives capital guarantee with equity exposure. The guaranteed lump sum ensures that wedding plans remain on track, unaffected by market uncertainties.

By safeguarding the policy proceeds under the Married Women’s Property Act, Shubh Muhurat ensures that the funds intended for the child’s marriage are legally protected and will only be available to the nominee regardless of external financial claims.

In the event of the insured’s demise, the family receives financial assistance to continue their life’s aspirations without disruption. Future premiums are waived, ensuring policy continuity without financial strain on the family.