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Tata AIA Life Insurance
Fortune Guarantee Plus
Tata AIA Life Insurance Fortune Other than POS Other than POS: *Premium excludes the taxes, rider premiums, underwriting extra “Annualised Premium” shall be the premium payable in a “Income Period” is the period measured in years following frequency, wherein the following conversion factor shall be Optional Riders: Surrender Benefit: The surrender benefit as detailed Special Surrender Value will equal to:
Age at Maturity** Option 1: 18 years^ ^ premiums, loading for modal premiums if any. year under a non-single pay option chosen by the policyholder, maturity, over which the Maturity Benefit is payable and is used to arrive at the monthly income payable: below shall be payable.
Guarantee Plus Option 1: 77 years ; chosen at inception. In Option 1, the income period can be 20, You have the flexibility to enhance your cover by adding the - Option 1: SSV Factor 1 * (RPU factor * Guaranteed
Option 2: 23 years Option 2: 70 years Key benefits in details excluding the taxes, rider premiums, underwriting extra 25, 30, 35, 40 or 45 years, subject to Policy term plus Income following optional riders, by paying additional rider premium - Surrender Benefit Income Benefit + Guaranteed Total Premium Benefit)
Individual, Non-Linked, Non-Participating, Life Insurance For POS For POS: Guaranteed Annual Income: Provided the policy is in force premiums, loading for modal premiums, if any. Period not exceeding 50 years. In Option 2, the policy term 5 over and above your base policy premium. The policy shall acquire a surrender value during the policy - Option 2: [SSV Factor 1 * (RPU factor * Guaranteed
Savings Plan ^ ^ “Single Premium” shall be the premium payable under a
Option 1: 18 years Option 1: 65 years and all due premiums have been paid, the Guaranteed Annual will have an Income Period of 30 years and policy term 10 will Tata AIA Life Insurance Non-Linked Comprehensive term basis the premium paying term as defined below. Income Benefit + Guaranteed Total Premium
Time never stands still and neither do our financial needs. As Option 2: Not Option 2: Not Income shall commence after maturity till the end of the single pay option chosen by the policyholder, excluding the have an Income Period of 25 years. In case monthly frequency is opted for, then the income shall Protection Rider (UIN: 110B033V02 or any later version) Benefit)] + [(SSV Factor 2 * Guaranteed Annual Income)
we move through various stages of life, our requirements and Available Available Income Period, irrespective of survival of the life insured(s) taxes, rider premiums, underwriting extra premiums, if any. “Income Frequency” is periodicity of the Guaranteed Annual commence from the end of the policy month following maturity Tata AIA Life Insurance Non-Linked Comprehensive Health - Monthly income payouts already paid for the current
Option 1: during the Income Period. The income shall be paid as per the “Basic Sum Assured” shall be equal to the Death Benefit Multiple Income as payable under the policy. The default frequency of or from the end of the policy month following the date of Rider (UIN: 110B031V02 or any other later version) policy year], if CI claim has already been accepted and
those of our families change consistently. Along with this we Single Pay Regular Pay chosen Income Frequency. (DBM) multiplied by the Annualised Premium / Single Premium the payment will be Annual. The income shall commence from diagnosis of critical illness (under Option 2 if chosen, whichever These riders can be attached effective policy inception or any being paid.
also carry the burden of any uncertainty happening. We do our Return of Premium Benefit: The Total Premiums Paid (excluding discount). The Death Benefit Multiple is set as: the end of the policy year, following maturity or the next policy is earlier). The date of diagnosis of critical illness needs to be policy anniversary of the base plan subject to the rider Where “Reduced Paid-up (RPU) Factor” shall be a ratio
PPT 1 PPT 5 to 12 (excluding loading for modal premiums and discount) by the anniversary after date of diagnosis of critical illness (under before maturity for any payout to happen under this calculated as the total period for which premiums have already
best to take care of our family's needs and to ensure -financial Premium PT 5 PT Same as PPT Single Pay: Option 2 if chosen, whichever is earlier). The date of diagnosis contingency. The first monthly income instalment post premium payment term and the policy term shall not be more been paid or waived post acceptance of critical illness claim
security of our family from uncertainties of life. Life Insurance is policyholder will be payable at the end of the Income Period, - Single Life – 10 of critical illness needs to be before maturity for any payout to diagnosis of critical illness shall also include all the monthly than the outstanding premium payment term and outstanding
Payment Term Limited Pay irrespective of survival of the life insured(s) during the happen under this contingency. income payouts in respect of the months elapsed in the current policy term for the base plan. Such attachments will be as per (under option 2 only) divided by the maximum period for which
the best way to protect our family from financial crisis in case of (PPT)/ Policy PPT 5 6 7 8 9 10 11 12 Income Period. - Joint Life –1.25 in case of First death and 10 in case of policy year prior to diagnosis of critical illness. This option to the ‘Board approved underwriting policy’ (BAUP) of the premiums were originally payable.
an unfortunate event and help your money to grow so you can Term (PT) – PT 6 to 7 to 8 to 9 to 10 to 11 to 12 to 13 to The policyholder or the nominee/legal heir(s) of the life insured(s), Second death At inception of the policy, the policyholder shall be given the take income in monthly frequency must be exercised at Company. For policies purchased from PoS channel, riders
achieve your dreams. (in Years) 10 11 12 13 14 15 16 17 as the case may be, has the option to receive the commuted Limited and Regular Pay: option to receive the Guaranteed Annual Income on a monthly inception and cannot be altered once chosen. would not be available.
The plan provides financial protection for your family and Option 2: Regular Pay value of the future Guaranteed Annual Income plus the Return of - The DBM varies by the age (last birthday) of the life Grace Period: The surrender value payable is higher of the Guaranteed
PPT 5 and 10 Premium Benefit, in the form of a lumpsum anytime during the insured at inception: A Grace Period of fifteen (15) days for monthly mode and thirty Surrender Value (GSV) or Special Surrender Value (SSV).
Guaranteed Regular Income that meets tomorrow's PT Same as PPT Income Period, discounted at 7.50% per annum. In case of (30) days for all other modes, from the due date will be allowed Guaranteed Surrender Value = GSV Factor * Total
requirements, thus helping you plan towards your future needs commutation for a monthly income frequency policy, the for payment of each subsequent premium. The Policy will Premiums Paid (excluding loading for modal premiums and
and protection for your loved ones. Single pay: Other than PoS: No commuted value will be post deduction of the monthly income remain in force during this period. If any death claim occurs discount)
Single Life – R 50,000 Limit, subject to the payouts already made for the existing Income Year. This during the grace period, any due premium (without interest) of
Key Features Joint Life – R 6,250 for Board Approved discounting rate is based on the interest rate prevailing at the the policy for the policy year, in which the event has occurred
Basic Sum Underwriting Policy time of surrender + 1%. The prevailing interest rate shall be
First death and based on the 30yr G-sec yield.. However, any change in the will be deducted from the death claim pay out.
Flexibility to choose Plan Option Assured R 50,000 for Second (BAUP) Critical Illness Benefit:
death For PoS: Corre- methodology/formula shall be subject to IRDAI approval. Non-forfeiture provisions:
- Regular Income or sponding to a Death Benefit: Critical illness benefit is available in Option 2 only.
- Regular Income with an inbuilt Critical Illness benefit Regular/Limited pay: maximum Death Provided the policy is in force and all due premiums have been paid, Lapse
R 24,000* Death Death during policy term: In case of death of the life insured When the full premiums for at least two (2) years have not
Benefit Multiple Benefit of R 25 lakhs during the policy term for an in-force policy (all due premiums the Guaranteed Annual Income shall be payable from the end of the
Flexibility to choose Income Period from 20 to 45 years have been paid), the death benefit payable to the claimant is as policy year (for annual income frequency) following diagnosis on the paid within the Grace Period, the policy shall lapse from
Get return of premium at the end of Income Period Single Pay - R 5,000 Other than PoS: outlined below: life of the Insured on any of the covered Major Critical Illness, Major the due date of first unpaid premium and no benefits will
Limited Pay /Regular subject to the Board Cardiac Conditions or Major Cancer as specified below till the be payable.
Choice to receive Income – Monthly/Annually Premium* (R) Pay – R 24,000 p.a. Approved Underwrit- Highest of: earlier of end of Policy Term or death of the Life Insured during the However, if full premiums for at least two (2) years have
Option of Joint Life under Single Premium payment option (excluding ing Policy (BAUP) 1.25 x Single Premium (excluding discount) or 10 x Policy Term. been paid and the subsequent premium remains unpaid
discount) For PoS: Correspond- Annualised Premium (excluding discount); In case monthly income frequency is opted for, then the income within the Grace Period, the Policy will be converted into a
Choice of Premium Payment Term ing to a maximum 105% of Total Premiums Paid (excluding loading for shall commence from the end of the policy month, following Critical Reduced Paid-up Policy by default.
Enhance your protection with optional Riders Death Benefit of R 25 modal premiums and discount) up to date of death; or Illness diagnosis. The first monthly income instalment post Please refer our website (www.tataaia.com) for ‘Definitions and A lapsed policy can be revived as per revival explained in
lakhs diagnosis of critical illness shall also include all the monthly income Exclusions Annexure’ for above illnesses. the Revival clause.
Tax benefits as per applicable Tax Laws Basic Sum Assured payouts in respect of months elapsed in the current policy year prior
Premium Single / Annual / Half-yearly / Quarterly / For single life policies, the policy will terminate upon the death “Guaranteed Annual Income” shall be a fixed percentage of to diagnosis of critical illness. Additional Benefits and Features Reduced Paid-Up Benefit
Eligibility Criteria Payment Mode Monthly of the insured during the policy term and no other benefit under the Annualised Premium / Single Premium (excluding Scenario II: Diagnosis of Critical Illness in 3rd year. The date of diagnosis of critical illness needs to be before maturity Flexible premium payment modes: The benefits to be paid in case of reduced paid-up policies
Plan Options the policy shall be payable. discount) payable in a year. The Guaranteed Annual Income - Premiums will get waived from 4th year. for any payout to happen under this contingency. All future are as follows.
Option 1: 20 to 45 years (in multiples of 5 For joint life policies, the policy will continue after First Death factor is derived as a sum of Base Income factor and a Large premiums will be waived off and the policy will continue as in-force. You have an option to pay the premiums either Single Death Benefit:
Option 1: Regular Income years). Premium Income Booster, if any. The Base Income factors and - Guaranteed Annual Income shall commence from the end of Policy In case of diagnosis of critical illness of the life insured during the Premium, Annually, Half-yearly, Quarterly and Monthly modes.
Option 2: Regular Income with an inbuilt Critical Illness benefit Income Period The Policy Term + Income period is within after payment of the death benefit due, and the policy will Year following diagnosis of Critical Illness on the life of the insured. Grace Period but before the payment of the premium then due, the Loading on premiums will be applicable as mentioned in the On death during the policy term, Death Benefit x RPU
The options can be chosen only at the inception of the Policy the range of 25 years to 50 years. terminate upon the Second Death during the policy term and Large Premium Income Booster are provided in Annexure A. policy will still be valid and the benefits shall be paid after deductions table below: Factor shall be payable.
Only Option 1 is available for POS. Option 2: 30 years for 5 pay and 25 years for no other benefit under the policy shall be payable. “Guaranteed Income Benefit” shall be the discounted value at of the said unpaid premium. Maturity Benefit:
10 pay In case of death of the life insured during the Grace Period but maturity of all the Guaranteed Annual Income payable at The following two conditions must have been met before any The Guaranteed Annual Income (as defined earlier)
Plan Parameters Minimum Maximum Income Mode Annual and Monthly before the payment of the premium then due, the policy will still be annual frequency post maturity, discounted at 7.50% p.a. benefit becomes payable: multiplied by the RPU Factor and the Return of Premium
Other than POS: Coverage Single Life (for Single/Limited/Regular Pay) or valid and the benefits shall be paid after deductions of the said “Return of Premium Benefit” shall be the return of Total The life insured needs to have survived for a period of 30 days; and benefit (as defined earlier) shall continue to be payable.
^
Option 1: 1 year Other than POS/ Joint life (for Single pay only) unpaid premium and also the balance premium(s), if any, falling Premiums Paid (excluding loading for modal premiums and
Option 2: 18 years due from the date of death and before the next policy anniversary. discount) by the policyholder and shall be payable at the end of The diagnosis must be the first ever of that condition in the Critical Illness Benefit:
Age at Entry** For POS: lifetime of the individual covered.
For POS: 60 years^ ^In case of joint life policy, the minimum age at entry / maturity age needs to Where, the Income Period. On diagnosis of critical illness during the policy term, the
^ Following Illnesses will be covered under the plan: Guaranteed Annual Income (as defined earlier) multiplied
Option 1: 1 year be complied upon by the youngest of two lives and the maximum age at “Guaranteed Total Premium Benefit” shall be the discounted
Option 2: Not entry / maturity age needs to be complied upon by the oldest of two lives. “Total Premiums Paid” means total of all the premiums by the RPU Factor shall continue to be payable. No
Available **All reference to age is as on last birthday. received, excluding any extra premium, any rider premium value at maturity of the Return of Premium Benefit, discounted waiver of premium will be applicable in case of a reduced
and taxes. at 7.50% p.a. paid-up policy.
1 2
Tata AIA Life Insurance Fortune *Premium excludes the taxes, rider premiums, underwriting extra “Annualised Premium” shall be the premium payable in a “Income Period” is the period measured in years following frequency, wherein the following conversion factor shall be Optional Riders: Surrender Benefit: The surrender benefit as detailed Special Surrender Value will equal to:
Guarantee Pluspremiums, loading for modal premiums if any. year under a non-single pay option chosen by the policyholder, maturity, over which the Maturity Benefit is payable and is used to arrive at the monthly income payable: You have the flexibility to enhance your cover by adding the below shall be payable. - Option 1: SSV Factor 1 * (RPU factor * Guaranteed
Key benefits in details excluding the taxes, rider premiums, underwriting extra chosen at inception. In Option 1, the income period can be 20, following optional riders, by paying additional rider premium - Surrender Benefit Income Benefit + Guaranteed Total Premium Benefit)
Individual, Non-Linked, Non-Participating, Life Insurance premiums, loading for modal premiums, if any. 25, 30, 35, 40 or 45 years, subject to Policy term plus Income over and above your base policy premium.
Savings PlanGuaranteed Annual Income: Provided the policy is in force Period not exceeding 50 years. In Option 2, the policy term 5 The policy shall acquire a surrender value during the policy - Option 2: [SSV Factor 1 * (RPU factor * Guaranteed
and all due premiums have been paid, the Guaranteed Annual “Single Premium” shall be the premium payable under a will have an Income Period of 30 years and policy term 10 will Tata AIA Life Insurance Non-Linked Comprehensive term basis the premium paying term as defined below. Income Benefit + Guaranteed Total Premium
Time never stands still and neither do our financial needs. As Income shall commence after maturity till the end of the single pay option chosen by the policyholder, excluding the have an Income Period of 25 years. In case monthly frequency is opted for, then the income shall Protection Rider (UIN: 110B033V02 or any later version) Benefit)] + [(SSV Factor 2 * Guaranteed Annual Income)
we move through various stages of life, our requirements and Income Period, irrespective of survival of the life insured(s) taxes, rider premiums, underwriting extra premiums, if any. “Income Frequency” is periodicity of the Guaranteed Annual commence from the end of the policy month following maturity Tata AIA Life Insurance Non-Linked Comprehensive Health - Monthly income payouts already paid for the current
during the Income Period. The income shall be paid as per the “Basic Sum Assured” shall be equal to the Death Benefit Multiple Income as payable under the policy. The default frequency of or from the end of the policy month following the date of Rider (UIN: 110B031V02 or any other later version) policy year], if CI claim has already been accepted and
those of our families change consistently. Along with this we chosen Income Frequency. (DBM) multiplied by the Annualised Premium / Single Premium the payment will be Annual. The income shall commence from diagnosis of critical illness (under Option 2 if chosen, whichever These riders can be attached effective policy inception or any being paid.
also carry the burden of any uncertainty happening. We do our Return of Premium Benefit: The Total Premiums Paid (excluding discount). The Death Benefit Multiple is set as: the end of the policy year, following maturity or the next policy is earlier). The date of diagnosis of critical illness needs to be policy anniversary of the base plan subject to the rider Where “Reduced Paid-up (RPU) Factor” shall be a ratio
best to take care of our family's needs and to ensure -financial (excluding loading for modal premiums and discount) by the anniversary after date of diagnosis of critical illness (under before maturity for any payout to happen under this premium payment term and the policy term shall not be more calculated as the total period for which premiums have already
policyholder will be payable at the end of the Income Period, Single Pay: Option 2 if chosen, whichever is earlier). The date of diagnosis contingency. The first monthly income instalment post been paid or waived post acceptance of critical illness claim
security of our family from uncertainties of life. Life Insurance is irrespective of survival of the life insured(s) during the - Single Life – 10 of critical illness needs to be before maturity for any payout to diagnosis of critical illness shall also include all the monthly than the outstanding premium payment term and outstanding (under option 2 only) divided by the maximum period for which
the best way to protect our family from financial crisis in case of Income Period. happen under this contingency. income payouts in respect of the months elapsed in the current policy term for the base plan. Such attachments will be as per premiums were originally payable.
- Joint Life –1.25 in case of First death and 10 in case of At inception of the policy, the policyholder shall be given the policy year prior to diagnosis of critical illness. This option to the ‘Board approved underwriting policy’ (BAUP) of the
an unfortunate event and help your money to grow so you can The policyholder or the nominee/legal heir(s) of the life insured(s), Second death option to receive the Guaranteed Annual Income on a monthly take income in monthly frequency must be exercised at Company. For policies purchased from PoS channel, riders
achieve your dreams.as the case may be, has the option to receive the commuted Limited and Regular Pay: inception and cannot be altered once chosen. would not be available.
The plan provides financial protection for your family and value of the future Guaranteed Annual Income plus the Return of - The DBM varies by the age (last birthday) of the life Grace Period: The surrender value payable is higher of the Guaranteed
Premium Benefit, in the form of a lumpsum anytime during the insured at inception: A Grace Period of fifteen (15) days for monthly mode and thirty Surrender Value (GSV) or Special Surrender Value (SSV).
Guaranteed Regular Income that meets tomorrow's Income Period, discounted at 7.50% per annum. In case of (30) days for all other modes, from the due date will be allowed Guaranteed Surrender Value = GSV Factor * Total
requirements, thus helping you plan towards your future needs commutation for a monthly income frequency policy, the Age DBM Age DBM Age DBM Age DBM for payment of each subsequent premium. The Policy will Premiums Paid (excluding loading for modal premiums and
and protection for your loved ones.commuted value will be post deduction of the monthly income 1 15.4 16 13.9 31 12.4 46 10.9 remain in force during this period. If any death claim occurs discount)
payouts already made for the existing Income Year. This 2 15.3 17 13.8 32 12.3 47 10.8 during the grace period, any due premium (without interest) of
Key Featuresdiscounting rate is based on the interest rate prevailing at the the policy for the policy year, in which the event has occurred
time of surrender + 1%. The prevailing interest rate shall be 3 15.2 18 13.7 33 12.2 48 10.7 will be deducted from the death claim pay out.
Flexibility to choose Plan Optionbased on the 30yr G-sec yield.. However, any change in the 4 15.1 19 13.6 34 12.1 49 10.6 Critical Illness Benefit:
methodology/formula shall be subject to IRDAI approval. 5 15.0 20 13.5 35 12.0 50 10.5 Non-forfeiture provisions:
- Regular Income orDeath Benefit: 6 14.9 21 13.4 36 11.9 51 10.5 Critical illness benefit is available in Option 2 only.
- Regular Income with an inbuilt Critical Illness benefit Provided the policy is in force and all due premiums have been paid, Lapse
Death during policy term: In case of death of the life insured 7 14.8 22 13.3 37 11.8 52 10.4 the Guaranteed Annual Income shall be payable from the end of the When the full premiums for at least two (2) years have not
Flexibility to choose Income Period from 20 to 45 yearsduring the policy term for an in-force policy (all due premiums 8 14.7 23 13.2 38 11.7 53 10.4 policy year (for annual income frequency) following diagnosis on the paid within the Grace Period, the policy shall lapse from
have been paid), the death benefit payable to the claimant is as 9 14.6 24 13.1 39 11.6 54 10.3 life of the Insured on any of the covered Major Critical Illness, Major the due date of first unpaid premium and no benefits will
Get return of premium at the end of Income Periodoutlined below: Cardiac Conditions or Major Cancer as specified below till the be payable.
Choice to receive Income – Monthly/Annually Highest of: 10 14.5 25 13.0 40 11.5 55 10.3 earlier of end of Policy Term or death of the Life Insured during the However, if full premiums for at least two (2) years have
1.25 x Single Premium (excluding discount) or 10 x 11 14.4 26 12.9 41 11.4 56 10.2 Policy Term. been paid and the subsequent premium remains unpaid
Option of Joint Life under Single Premium payment option 12 14.3 27 12.8 42 11.3 57 10.2 In case monthly income frequency is opted for, then the income within the Grace Period, the Policy will be converted into a
Choice of Premium Payment TermAnnualised Premium (excluding discount); Reduced Paid-up Policy by default.
105% of Total Premiums Paid (excluding loading for 13 14.2 28 12.7 43 11.2 58 10.1 shall commence from the end of the policy month, following Critical
Enhance your protection with optional Ridersmodal premiums and discount) up to date of death; or 14 14.1 29 12.6 44 11.1 59 10.1 Illness diagnosis. The first monthly income instalment post Please refer our website (www.tataaia.com) for ‘Definitions and A lapsed policy can be revived as per revival explained in
15 14.0 30 12.5 45 11.0 60 10.0 diagnosis of critical illness shall also include all the monthly income Exclusions Annexure’ for above illnesses. the Revival clause.
Tax benefits as per applicable Tax Laws Basic Sum Assured payouts in respect of months elapsed in the current policy year prior
For single life policies, the policy will terminate upon the death “Guaranteed Annual Income” shall be a fixed percentage of to diagnosis of critical illness. Additional Benefits and Features Reduced Paid-Up Benefit
Eligibility Criteriaof the insured during the policy term and no other benefit under the Annualised Premium / Single Premium (excluding Scenario II: Diagnosis of Critical Illness in 3rd year. The date of diagnosis of critical illness needs to be before maturity Flexible premium payment modes: The benefits to be paid in case of reduced paid-up policies
the policy shall be payable. discount) payable in a year. The Guaranteed Annual Income - Premiums will get waived from 4th year. for any payout to happen under this contingency. All future are as follows.
For joint life policies, the policy will continue after First Death factor is derived as a sum of Base Income factor and a Large premiums will be waived off and the policy will continue as in-force. You have an option to pay the premiums either Single Death Benefit:
Premium Income Booster, if any. The Base Income factors and - Guaranteed Annual Income shall commence from the end of Policy In case of diagnosis of critical illness of the life insured during the Premium, Annually, Half-yearly, Quarterly and Monthly modes.
after payment of the death benefit due, and the policy will Year following diagnosis of Critical Illness on the life of the insured. Grace Period but before the payment of the premium then due, the Loading on premiums will be applicable as mentioned in the On death during the policy term, Death Benefit x RPU
terminate upon the Second Death during the policy term and Large Premium Income Booster are provided in Annexure A. policy will still be valid and the benefits shall be paid after deductions table below: Factor shall be payable.
no other benefit under the policy shall be payable. “Guaranteed Income Benefit” shall be the discounted value at of the said unpaid premium. Maturity Benefit:
In case of death of the life insured during the Grace Period but maturity of all the Guaranteed Annual Income payable at The following two conditions must have been met before any The Guaranteed Annual Income (as defined earlier)
before the payment of the premium then due, the policy will still be annual frequency post maturity, discounted at 7.50% p.a. benefit becomes payable: multiplied by the RPU Factor and the Return of Premium
valid and the benefits shall be paid after deductions of the said “Return of Premium Benefit” shall be the return of Total The life insured needs to have survived for a period of 30 days; and benefit (as defined earlier) shall continue to be payable.
unpaid premium and also the balance premium(s), if any, falling Premiums Paid (excluding loading for modal premiums and The diagnosis must be the first ever of that condition in the Critical Illness Benefit:
due from the date of death and before the next policy anniversary. discount) by the policyholder and shall be payable at the end of lifetime of the individual covered.
^In case of joint life policy, the minimum age at entry / maturity age needs to Where, the Income Period. On diagnosis of critical illness during the policy term, the
be complied upon by the youngest of two lives and the maximum age at Following Illnesses will be covered under the plan: Guaranteed Annual Income (as defined earlier) multiplied
entry / maturity age needs to be complied upon by the oldest of two lives.“Total Premiums Paid” means total of all the premiums “Guaranteed Total Premium Benefit” shall be the discounted by the RPU Factor shall continue to be payable. No
**All reference to age is as on last birthday.received, excluding any extra premium, any rider premium value at maturity of the Return of Premium Benefit, discounted waiver of premium will be applicable in case of a reduced
and taxes. at 7.50% p.a. paid-up policy.
3 4
Tata AIA Life Insurance Fortune *Premium excludes the taxes, rider premiums, underwriting extra “Annualised Premium” shall be the premium payable in a “Income Period” is the period measured in years following frequency, wherein the following conversion factor shall be Optional Riders: Surrender Benefit: The surrender benefit as detailed Special Surrender Value will equal to:
Guarantee Pluspremiums, loading for modal premiums if any.year under a non-single pay option chosen by the policyholder, maturity, over which the Maturity Benefit is payable and is used to arrive at the monthly income payable: You have the flexibility to enhance your cover by adding the below shall be payable. - Option 1: SSV Factor 1 * (RPU factor * Guaranteed
Key benefits in detailsexcluding the taxes, rider premiums, underwriting extra chosen at inception. In Option 1, the income period can be 20, Frequency Payout following optional riders, by paying additional rider premium - Surrender Benefit Income Benefit + Guaranteed Total Premium Benefit)
Individual, Non-Linked, Non-Participating, Life Insurance premiums, loading for modal premiums, if any. 25, 30, 35, 40 or 45 years, subject to Policy term plus Income over and above your base policy premium. - Option 2: [SSV Factor 1 * (RPU factor * Guaranteed
Savings PlanGuaranteed Annual Income: Provided the policy is in force “Single Premium” shall be the premium payable under a Period not exceeding 50 years. In Option 2, the policy term 5 Monthly 96% x Guaranteed Annual Income x 1/12 The policy shall acquire a surrender value during the policy
and all due premiums have been paid, the Guaranteed Annual will have an Income Period of 30 years and policy term 10 will Tata AIA Life Insurance Non-Linked Comprehensive term basis the premium paying term as defined below. Income Benefit + Guaranteed Total Premium
Time never stands still and neither do our financial needs. As Income shall commence after maturity till the end of the single pay option chosen by the policyholder, excluding the have an Income Period of 25 years.In case monthly frequency is opted for, then the income shall Protection Rider (UIN: 110B033V02 or any later version) Benefit)] + [(SSV Factor 2 * Guaranteed Annual Income)
we move through various stages of life, our requirements and Income Period, irrespective of survival of the life insured(s) taxes, rider premiums, underwriting extra premiums, if any.“Income Frequency” is periodicity of the Guaranteed Annual commence from the end of the policy month following maturity Tata AIA Life Insurance Non-Linked Comprehensive Health - Monthly income payouts already paid for the current
during the Income Period. The income shall be paid as per the “Basic Sum Assured” shall be equal to the Death Benefit Multiple Income as payable under the policy. The default frequency of or from the end of the policy month following the date of Rider (UIN: 110B031V02 or any other later version) policy year], if CI claim has already been accepted and
those of our families change consistently. Along with this we chosen Income Frequency.(DBM) multiplied by the Annualised Premium / Single Premium the payment will be Annual. The income shall commence from diagnosis of critical illness (under Option 2 if chosen, whichever These riders can be attached effective policy inception or any being paid.
also carry the burden of any uncertainty happening. We do our Return of Premium Benefit: The Total Premiums Paid (excluding discount). The Death Benefit Multiple is set as:the end of the policy year, following maturity or the next policy is earlier). The date of diagnosis of critical illness needs to be policy anniversary of the base plan subject to the rider Where “Reduced Paid-up (RPU) Factor” shall be a ratio
best to take care of our family's needs and to ensure -financial (excluding loading for modal premiums and discount) by the anniversary after date of diagnosis of critical illness (under before maturity for any payout to happen under this premium payment term and the policy term shall not be more calculated as the total period for which premiums have already
policyholder will be payable at the end of the Income Period, Single Pay:Option 2 if chosen, whichever is earlier). The date of diagnosis contingency. The first monthly income instalment post been paid or waived post acceptance of critical illness claim
security of our family from uncertainties of life. Life Insurance is irrespective of survival of the life insured(s) during the - Single Life – 10of critical illness needs to be before maturity for any payout to diagnosis of critical illness shall also include all the monthly than the outstanding premium payment term and outstanding (under option 2 only) divided by the maximum period for which
the best way to protect our family from financial crisis in case of Income Period.happen under this contingency.income payouts in respect of the months elapsed in the current policy term for the base plan. Such attachments will be as per premiums were originally payable.
- Joint Life –1.25 in case of First death and 10 in case of At inception of the policy, the policyholder shall be given the policy year prior to diagnosis of critical illness. This option to the ‘Board approved underwriting policy’ (BAUP) of the
an unfortunate event and help your money to grow so you can The policyholder or the nominee/legal heir(s) of the life insured(s), Second deathoption to receive the Guaranteed Annual Income on a monthly take income in monthly frequency must be exercised at Company. For policies purchased from PoS channel, riders
achieve your dreams.as the case may be, has the option to receive the commuted Limited and Regular Pay:inception and cannot be altered once chosen. would not be available.
The plan provides financial protection for your family and value of the future Guaranteed Annual Income plus the Return of - The DBM varies by the age (last birthday) of the life Sample Illustration Grace Period: The surrender value payable is higher of the Guaranteed
Premium Benefit, in the form of a lumpsum anytime during the insured at inception: A Grace Period of fifteen (15) days for monthly mode and thirty Surrender Value (GSV) or Special Surrender Value (SSV).
Guaranteed Regular Income that meets tomorrow's Income Period, discounted at 7.50% per annum. In case of Entry Age: 35 years Annualised Premium*: 1,00,000 (30) days for all other modes, from the due date will be allowed Guaranteed Surrender Value = GSV Factor * Total
requirements, thus helping you plan towards your future needs commutation for a monthly income frequency policy, the Gender: Male Basic Sum Assured: 12,00,000 for payment of each subsequent premium. The Policy will Premiums Paid (excluding loading for modal premiums and
and protection for your loved ones.commuted value will be post deduction of the monthly income Premium Paying Term: 10 years Premium Frequency: Annual remain in force during this period. If any death claim occurs discount)
payouts already made for the existing Income Year. This during the grace period, any due premium (without interest) of
Key Featuresdiscounting rate is based on the interest rate prevailing at the Policy Term: 10 years Plan Option: Regular Income the policy for the policy year, in which the event has occurred
time of surrender + 1%. The prevailing interest rate shall be Income Term: 25 years (From 11th Year to 35th Year) Income Mode: Annual will be deducted from the death claim pay out.
Flexibility to choose Plan Optionbased on the 30yr G-sec yield.. However, any change in the The Policy Maturity date is at the end of the Policy Term. Critical Illness Benefit:
methodology/formula shall be subject to IRDAI approval. Non-forfeiture provisions:
- Regular Income orDeath Benefit: Annualised Guaranteed Benefits Critical illness benefit is available in Option 2 only.
- Regular Income with an inbuilt Critical Illness benefitPolicy YearAge Maturity Benefit Provided the policy is in force and all due premiums have been paid, Lapse
Death during policy term: In case of death of the life insured PremiumSum Assured on Death Guaranteed Annual Income Return of Premium the Guaranteed Annual Income shall be payable from the end of the When the full premiums for at least two (2) years have not
Flexibility to choose Income Period from 20 to 45 yearsduring the policy term for an in-force policy (all due premiums 1 35 1,00,000 12,00,000 0 0 policy year (for annual income frequency) following diagnosis on the paid within the Grace Period, the policy shall lapse from
have been paid), the death benefit payable to the claimant is as life of the Insured on any of the covered Major Critical Illness, Major the due date of first unpaid premium and no benefits will
Get return of premium at the end of Income Periodoutlined below: 2 36 1,00,000 12,00,000 0 0 Cardiac Conditions or Major Cancer as specified below till the be payable.
Choice to receive Income – Monthly/Annually Highest of: 3 37 1,00,000 12,00,000 0 0 earlier of end of Policy Term or death of the Life Insured during the However, if full premiums for at least two (2) years have
Option of Joint Life under Single Premium payment option 1.25 x Single Premium (excluding discount) or 10 x 4 38 1,00,000 12,00,000 0 0 Policy Term. been paid and the subsequent premium remains unpaid
Annualised Premium (excluding discount); 5 39 1,00,000 12,00,000 0 0 In case monthly income frequency is opted for, then the income within the Grace Period, the Policy will be converted into a
Choice of Premium Payment Term 105% of Total Premiums Paid (excluding loading for 6 40 1,00,000 12,00,000 0 0 shall commence from the end of the policy month, following Critical Reduced Paid-up Policy by default.
Enhance your protection with optional Ridersmodal premiums and discount) up to date of death; or 7 41 1,00,000 12,00,000 0 0 Illness diagnosis. The first monthly income instalment post Please refer our website (www.tataaia.com) for ‘Definitions and A lapsed policy can be revived as per revival explained in
diagnosis of critical illness shall also include all the monthly income Exclusions Annexure’ for above illnesses. the Revival clause.
Tax benefits as per applicable Tax Laws Basic Sum Assured 8 42 1,00,000 12,00,000 0 0 payouts in respect of months elapsed in the current policy year prior
For single life policies, the policy will terminate upon the death “Guaranteed Annual Income” shall be a fixed percentage of 9 43 1,00,000 12,00,000 0 0 to diagnosis of critical illness. Additional Benefits and Features Reduced Paid-Up Benefit
Eligibility Criteriaof the insured during the policy term and no other benefit under the Annualised Premium / Single Premium (excluding 10 44 1,00,000 12,00,000 0 0 Scenario II: Diagnosis of Critical Illness in 3rd year. The date of diagnosis of critical illness needs to be before maturity Flexible premium payment modes: The benefits to be paid in case of reduced paid-up policies
the policy shall be payable.discount) payable in a year. The Guaranteed Annual Income 11 45 0 0 88,670 0 - Premiums will get waived from 4th year. for any payout to happen under this contingency. All future are as follows.
For joint life policies, the policy will continue after First Death factor is derived as a sum of Base Income factor and a Large 12 46 0 0 88,670 0 premiums will be waived off and the policy will continue as in-force. You have an option to pay the premiums either Single Death Benefit:
Premium Income Booster, if any. The Base Income factors and - Guaranteed Annual Income shall commence from the end of Policy In case of diagnosis of critical illness of the life insured during the Premium, Annually, Half-yearly, Quarterly and Monthly modes.
after payment of the death benefit due, and the policy will 13 47 0 0 88,670 0 Year following diagnosis of Critical Illness on the life of the insured. Grace Period but before the payment of the premium then due, the Loading on premiums will be applicable as mentioned in the On death during the policy term, Death Benefit x RPU
terminate upon the Second Death during the policy term and Large Premium Income Booster are provided in Annexure A. 14 48 0 0 88,670 0 policy will still be valid and the benefits shall be paid after deductions table below: Factor shall be payable.
no other benefit under the policy shall be payable.“Guaranteed Income Benefit” shall be the discounted value at 15 49 0 0 88,670 0 of the said unpaid premium. Maturity Benefit:
In case of death of the life insured during the Grace Period but maturity of all the Guaranteed Annual Income payable at 16 50 0 0 88,670 0 The following two conditions must have been met before any The Guaranteed Annual Income (as defined earlier)
before the payment of the premium then due, the policy will still be annual frequency post maturity, discounted at 7.50% p.a. benefit becomes payable: multiplied by the RPU Factor and the Return of Premium
valid and the benefits shall be paid after deductions of the said “Return of Premium Benefit” shall be the return of Total 17 51 0 0 88,670 0 benefit (as defined earlier) shall continue to be payable.
18 52 0 0 88,670 0 The life insured needs to have survived for a period of 30 days; and
unpaid premium and also the balance premium(s), if any, falling Premiums Paid (excluding loading for modal premiums and 19 to 34 53 to 68 0 0 88,670 0 The diagnosis must be the first ever of that condition in the Critical Illness Benefit:
due from the date of death and before the next policy anniversary.discount) by the policyholder and shall be payable at the end of lifetime of the individual covered.
^In case of joint life policy, the minimum age at entry / maturity age needs to Where,the Income Period. 35 69 0 0 88,670 10,00,000 On diagnosis of critical illness during the policy term, the
be complied upon by the youngest of two lives and the maximum age at Total Benefit 22,16,750 10,00,000 Following Illnesses will be covered under the plan: Guaranteed Annual Income (as defined earlier) multiplied
entry / maturity age needs to be complied upon by the oldest of two lives.“Total Premiums Paid” means total of all the premiums “Guaranteed Total Premium Benefit” shall be the discounted by the RPU Factor shall continue to be payable. No
**All reference to age is as on last birthday.received, excluding any extra premium, any rider premium value at maturity of the Return of Premium Benefit, discounted Grand Total 32,16,750 waiver of premium will be applicable in case of a reduced
and taxes. at 7.50% p.a. paid-up policy.
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