UTI Senior Citizen Unit Scheme will cease its business from February 18, 2008 UTI Mutual Fund announces the offer of an alternate health insurance product of New India Assurance Company (NIAC) to the members (upto the age of 58 years) in lieu of UTI Senior Citizen Unit Scheme/Plan (UTI-SCUP), which is being terminated from the close of business on February 18, 2008. However for members above the age of 58 years for whom insurance premia had been paid out of existing investment, there will be no change and NIAC will continue to honour its commitment on hospitalisation cover. UTI-SCUP was launched by erstwhile Unit Trust of India (UTI) in the year 1993 in association with NIAC to provide its members medical cover for hospitalisation on completion of 58 years of age.
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