Tata AIA Life Guaranteed Return Insurance Plan
We, at Tata AIA Life, believe in protecting your dreams at various stages of life without compromising
on your basic needs through nancial resources. You do not have to think twice to live your dreams
as they now come with guaranteed payouts.
We present to you, Tata AIA Life Guaranteed Return Insurance Plan to meets tomorrow's requirements
along with protecting your loved ones and dreams as it ensures you of guaranteed returns.
This plan helps you fulll your medium to long term goals such as Child’s Education/ Marriage or
Retirement planning etc.
Key Features
• Flexibility to choose Plan Option: Endowment, Regular Income or Whole Life Income
• Receive Guaranteed benets on Maturity or Death
• Guaranteed Additions that boost corpus year on year under Endowment Option
• Flexibility to cover your spouse in same policy under Whole Life Income Option
• Choice of Policy Term with limited Premium Payment Term
• Enhance your protection with optional Riders
Eligibility Criteria
**All reference to age is as on last birthday. Under whole life income option both the Life Assureds are of age 50 years.
* Premium is exclusive of applicable taxes, cesses & levies.
#
Assuming policy ends after Second Death at age 100.
Key benefits in details
Maturity Benets: On survival of the Life Assured till the end of Policy Term provided the policy is in
force, following benet shall be payable basis chosen plan option:
o Option I - Endowment: On maturity of the policy a lump sum benet equal to Guaranteed Maturity
Benet (GMB) along with the accrued Guaranteed Additions (GA) shall be payable at Maturity.
Guaranteed Maturity Benet (GMB) = GMB Factor * Total Premiums Payable
Guaranteed Addition dened as a percentage of GMB shall accrued at a simple rate for each
completed policy year, throughout the Policy Term and shall be payable on Maturity or Death
whichever is earlier, subject to all due premiums being paid. GA shall accrue @ 5% of GMB. No
GA shall accrue once the policy has been converted to a Reduced Paid-up policy.
Please refer company website www.tataaia.com for details on GMB Factors
o Option II - Regular Income: A Guaranteed Annual Income (GAI) dened as a percentage of one
Annualised Premiums shall commence from the end of the year following maturity for a dened
Income Period, provided the policy is in force.
o For Policy Term 6, the GAI shall commence from the end of the 7th year to the end of the 11th
year.
o For Policy Term 7, the GAI shall commence from the end of the 8th year to the end of the 13th
year.
o For Policy Term 8, the GAI shall commence from the end of the 9th year to the end of the 15th
year.
o For Policy Term 9, the GAI shall commence from the end of the 10th year to the end of the
17tht year.
o For Policy Term 10, the GAI shall commence from the end of the 11th year to the end of the
19th year.
o For Policy Term 11, the GAI shall commence from the end of the 12th year to the end of the
21st year.
o For Policy Term 13, the GAI shall commence from the end of the 14th year to the end of the
25th year.
Where, Guaranteed Annual Income percentage factor shall be as per below table:
The policyholder has the option to receive the commuted value of the future Guaranteed Annual
Income, in the form of a lump sum benet at maturity, discounted at 7.45% p.a. for premium
paying term 5 to 10 years and 7.20% p.a. for premium paying term 12 years. This discounting
rate is not guaranteed and is subject to change based on prevailing bond yields (aligned to 10
year G-sec). However, any change in the methodology/formula shall be subject to IRDAI approval.
o Option III - Whole Life Income: : A Guaranteed Annual Income (GAI) dened as a percentage of
Total Premiums Paid shall commence from the end of the year following maturity and shall be
payable until the death of the Insured in case of single life or until the second death in case of joint
life. Where, Guaranteed Annual Income percentage factor shall be as follows:
GAI = Rate A * (Total Premiums Payable up to Rs.125,000) + Rate B * (Total Premiums Payable
in excess of Rs. 125,000) for single life.
GAI = Rate A * (Total Premiums Payable up to Rs.150,000) + Rate B * (Total Premiums Payable
in excess of Rs. 150,000) for joint life.
For Single Life policies, the rates offered to a female life will be equal to a male life with a three year
setback. All Joint Life rates are unisex.
The policyholder shall also be given the option to receive the GAI on a monthly basis wherein the
following conversion factor shall be used to arrive at the income payable. The income shall
commence from the end of the month following maturity. This option has to be chosen at
inception and cannot be altered once chosen.
After the policy term, the policyholder or the nominee(s)/legal heir(s) shall have the option to
receive a commuted value depending on the age at the time of commutation. Details of
computation of commuted value is provided in Annexure B.
Commuted Value = (F1 * Guaranteed Annual Income + F2 * Total Premiums Paid).
The factors F1 & F2 depend on the age of the surviving life assured at the time of commutation.
For joint life cases when both lives assured are alive, the age of the older of the two life assureds
is to be considered.
term 12 years under Option II. For Option III Guaranteed Maturity Benet shall be equal to the
Guaranteed Annual Income multiplied by the GMB factors provided on company website
www.tataaia.com.
“Total Premiums Payable" refers to an amount equal to the Annualised Premium multiplied by the
Premium Payment Term of the policy.
Additional Benefits and Features
Flexible premium payment modes:
You have an option to pay the premiums either Annually, Half-yearly, Quarterly and Monthly modes.
Loading on premiums will be applicable as mentioned in the table below:
Optional Riders:
You have the exibility to enhance your cover by adding the following optional riders, by paying
additional rider premium over and above your base policy premium.
1. Tata AIA Life Insurance Accidental Death and Dismemberment (Long Scale) (ADDL)
Rider (UIN: 110B028V03)
This rider ensures protection of your family by paying your nominee an amount equal to the rider sum
assured in case of an accidental death. In case of severe dismemberment like loss of limbs or bodily
functions or severe burns due to an accident, it will pay a percentage of the rider sum assured as per
the ADDL benet chart. The benets will be doubled in case of certain accidental death or
dismemberments. This rider can be attached only at Policy inception.
2. Tata AIA Life Insurance Waiver of Premium Plus (WOPP) Rider (UIN: 110B029V02)
This rider provides for the waiver of all future premiums of the basic policy which fall due in case of
death or while the proposer is totally and permanently disabled (provided that the death occurs
/disability commences before the proposer reaches 70 years or the end of premium payment term of
the basic plan, whichever is earlier). This rider can be attached only at Policy inception.
3. Tata AIA Life Insurance Non-Linked Comprehensive Protection Rider (UIN:110B033V02
or any other later version)
This rider provides coverage for various unforeseen events, such as death, disability due to accident,
a wide range of critical illnesses, or terminal illness. It allows exibility to receive bene¬t as
combination of lump sum or income for xed period, Income till survival of partner or Waiver of
Premium. This rider can be opted either while taking the policy, or at the time of any policy anniversary.
4. Tata AIA Life Insurance Non-Linked Comprehensive Health Rider (UIN: 110B031V02 or
any other later version)
The rider covers various unforeseen events and illnesses, including disability, hospitalization, and
critical illnesses such as cancer and cardiac arrests. It also provides coverage against both major
illnesses, and minor injuries or illnesses, while allowing multiple claim payouts. Rider can be opted
either while taking the policy, or at the time of any policy anniversary.
The above riders will not be offered if the outstanding term under the base policy is less than 5 years.
There is no overlap in benet offered under different riders and rider benets shall be payable
separately in addition to base plan benets. In case the product is purchased under PoS, then no
rider can be attached.
Death Benet:
In case of death of the Life Assured during the Policy Term, provided the policy is in force, the Sum
Assured on Death as dened below shall be payable.
Under Option I: Additionally, accrued Guaranteed Addition as on the date of Death shall be payable
along with Sum Assured on Death.
Under Option II: In case of death of the life insured after maturity; All the future income payments shall
be payable to the nominee/legal heir(s) of the life insured. The nominee/legal heir(s) also has the
option to receive the commuted value of the future income at the time of death of life insured,
discounted at 7.45% p.a. for premium paying term 5 to 10 years and 7.20% p.a. for premium paying
term 12 years.
Under Option III:
Death during policy term: In case of death of the life insured during the policy term; Death Benets
Multiple for Basic Sum Assured will be as follows:
Death after policy term: In case of death of the life insured after the policy term;
• For single life policies, the Total Premiums Paid shall be payable
• For joint life policies, the Total Premiums Paid shall be payable on the second death only. No
death benet is payable on the rst death.
For single life policies, the policy will terminate upon the death of the insured and no other benet
under the policy shall be payable.
For joint life policies, the policy will continue after First Death, and the policy will terminate upon the
Second Death and no other benet under the policy shall be payable
Kindly refer Annexure A for Death Benet Multiple under all Plan Options I & II.
Where,
“Annualised Premium” shall be the premium paid in a year, excluding the taxes, rider premiums
underwriting extra premiums and loading for modal premiums, if any.
“Basic Sum Assured” is equal to the Death Benet Multiple times the Single/Annualised Premium.
“Total Premiums Paid" means total of all premiums received, excluding any extra premiums, any
rider premiums and taxes.
‘Guaranteed Maturity Benet’ shall be equal to the commuted value of all the GAI at maturity,
discounted at 7.45% p.a. for premium paying term 5 to 10 years and 7.20% p.a. for premium paying
Riders are not mandatory and are available for a nominal extra cost. For more details on the benets,
premiums and exclusions under the riders please refer to the Rider Brochure or contact our Insurance
Advisor / Intermediary or visit our nearest branch ofce.
Grace Period:
A Grace Period of fteen (15) days for monthly mode and thirty (30) days for all other modes, from the
due date will be allowed for payment of each subsequent premium. The Policy will remain in force
during this period. If the full premium for the rst 2 policy years remains unpaid at the end of their
grace period the policies shall lapse from the due date of the rst unpaid premium. If any death claim
occurs during the grace period, any due premium (without interest) of the policy for the policy year, in
which the event has occurred will be deducted from the death claim pay out.
Non forfeiture provisions:
o Lapse
When the full premiums for at least two (2) years have not paid within the Grace Period, the policy
shall lapse from the due date of rst unpaid premium and no benets will be payable.
However, if full premiums for at least two (2) years have been paid and the subsequent premium
remains unpaid within the Grace Period, the Policy will be converted into a Reduced Paid-up
Policy by default.
o Reduced Paid-Up Benet
The benets to be paid in case of reduced paid-up policies are as follows.
Death Benet:
Option 1 – Endowment:
On death during the policy term, the Sum Assured on Death x RPU Factor shall be payable along with
accrued GA. The benet shall be subject to a minimum of 105% of the Total Premiums Paid up to the
date of death. The policy will terminate upon the death of the insured and no other benet under the
policy shall be payable.
Option 2 – Regular Income:
On death during the policy term, the Sum Assured on Death x RPU Factor shall be payable. The benet
shall be subject to a minimum of 105% of the Total Premiums Paid up to the date of death. The policy
will terminate upon the death of the insured and no other benet under the policy shall be payable.
In case of death during the Income Term, all the future income payments shall be payable to the
nominee/legal heir(s) of the life insured. The nominee/leg al heir(s) also has the option to receive
the commuted value of the future income at the time of death of life insured, discounted at 7.45%
p.a. for premium paying term 5 to 10 years and 7.20% p.a. for premium paying term 12 years. This
discounting rate is not guaranteed and is subject to change based on prevailing bond yields
(aligned to 10 year G-sec). However, any change in the methodology/formula shall be subject to
IRDAI approval.
Option 3 – Whole Life Income:
Single Life: On death during the policy term, the Sum Assured on Death x RPU Factor shall be payable.
The benet shall be subject to a minimum of 105% of the Total Premiums Paid up to the date of death.
The policy will terminate upon the death of the insured and no other benet under the policy shall be
payable. In case of death of the life insured after the policy term the Total Premiums Paid shall be payable.
Joint Life: On death during the policy term, the Sum Assured on Death x RPU Factor shall be
payable. The benet shall be subject to a minimum of 105% of the Total Premiums Paid up to the date
of death. The policy will terminate upon the second death and no other benet under the policy shall
be payable. In case of second death of the life insured after the policy term the Total Premiums Paid
shall be payable.No death benet is payable on the rst death.
Maturity Benet: The maturity benets detailed above shall continue to be payable multiplied by the
RPU Factor.
o Surrender Benet
The policy shall acquire a surrender value during the policy term basis the premium paying term as
dened below.
The surrender value payable is higher of the Guaranteed Surrender Value (GSV) or Special Surrender
Value (SSV) where;
• Guaranteed Surrender Value = GSV Factor on Premiums x Total Premiums Paid + GSV Factor on
Guaranteed Additions x Accrued GA, if any)
• Special Surrender Value = SSV Factor * (RPU factor x Guaranteed Maturity Benet + Accrued GA,
if any)
Where “Reduced Paid-up (RPU) Factor” shall be equal to the total number of premiums paid divided
by the total number of Premiums Payable during the entire Premium Payment Term.
Please refer company website www.tataaia.com for details on Guaranteed Surrender Value Factors.
Please refer Policy Document for details on Special Surrender Value Factors.
The Company may revise the SSV factors from time to time. However, any change in the
methodology/formula for calculating SSV factors shall be subject to IRDAI approval.
o Revival
If a premium is in default beyond the Grace Period and subject to the Policy not having been
surrendered, it may be revived, within ve years after the due date of rst unpaid premium and before
the date of maturity, subject to: (i) Policyholder’s written application for revival; (ii) production of
Insured’s current health certicate and other evidence of insurability, satisfactory to the Company; and
(iii) payment of all overdue premiums with interest.
Upon revival, the benets of the Policy shall be restored with effect from the date of revival.
The evidences and any medical requirements called for are in line with the prevailing underwriting
guidelines duly approved by the Board & the health declaration by the life assured. Any evidence of
insurability requested at the time of revival will be based on the prevailing underwriting guidelines duly
approved by the Board. The revival will be based on the Board approved underwriting policy. The
applicable interest rate for revival is determined using the SBI [or any other public sector undertaking
bank] domestic term deposit rate for ‘1 year to less than 2 years’, plus 2%. Any alteration in the
formula will be subject to prior approval of IRDAI.
The interest rate on revival is veried & updated on our company's systems every six months (on 1st
April & 1st Oct every year) as per the given formula. The current interest rate on revival from 1st
October 2021 is 7.00% simple p.a. (i.e. SBI interest rate of 5.00% + 2%).
Terms and Conditions
1. Free Look Period
If You are not satised with the terms & conditions/ features of the Policy, You have the right to
cancel the Policy by providing written notice to the Company and receive a refund of all premiums
paid without interest after deducting a) Proportionate risk premium for the period on cover
(including applicable taxes, cesses, and levies, if any) and b) Stamp duty charges and medical
examination costs which have been incurred for issuing the Policy. Such notice must be signed by
You and received directly by the Company within 15 days after You receive the policy document.
The said period of 15 days shall stand extended to 30 days if the Policy is sourced through
Distance Marketing mode.
Distance Marketing includes every activity of solicitation (including lead generation) and sale of
insurance products through voice mode, SMS electronic mode, physical mode (like postal mail) or
any other means of communication other than in person.
2. Change in Basic Sum Assured
Any change in the Basic Sum Assured is not allowed post inception of the policy.
3. Policy Loan
Provided that the policy acquires Surrender Value, policyholders may apply for a policy loan for such
an amount within the extent of 80% of Surrender Value. The Policy must be assigned to Tata AIA Life.
Loan Interest
Daily interest shall accrue on policy loan at a rate which the company shall determine. Interest shall
be payable on each policy anniversary after the loan date and until the loan is repaid. Any unpaid
interest shall be added to the principal loan and bear interest at the same rate. At any time while the
policy is in force, policyholder may repay the principal and accrued interest, on any part of the loan.
When the loan with accrued interest exceeds the Surrender Value, the policy will be terminated.
Residual amount, if any, will be refunded to the policyholder.
Interest rate applicable to policy loan will be equal to the prevailing SBI (State Bank of India) [or any
other public sector undertaking bank] domestic term deposit interest rate for tenure ‘1 year to less
than 2 years’ + 2%. This formula will be reviewed annually and only altered subject to prior approval
of IRDA of India. The interest rate on loans are veried & updated on our company's systems every six
months (on 1st April & 1st Oct every year) as per the given formula. The current interest rate for Loan
from 1st April October is 7.00% p.a. (i.e. SBI interest rate of 5.00% + 2%) compounding annually.
4. Auto Vesting
Where the policy is issued on the life of a minor, the policy shall automatically vest in the life insured
on his/her attaining age of majority. On vesting, the Company shall recognize the life insured to be the
holder of the policy.
5. Exclusion
• Suicide Claim: In case of death due to suicide within 12 months from the date of commencement
of risk under the policy or from the date of revival of the policy, as applicable, the nominee or
beneciary of the policyholder shall be entitled to at least 80% of the total premiums paid till the
date of death or the surrender value available as on the date of death whichever is higher,
provided the policy is in force.
• Waiting Period: Waiting period is applicable for policies sourced through PoS channel. If death of
any of the life insureds occurs during the rst 90 days from the Date of commencement of risk,
we shall refund Total Premiums Paid and the policy will terminate with immediate effect. Waiting
period of 90 days is not applicable for death due to accident provided all due premiums have
been paid. Death benet and other benets as stipulated in section 7 will continue to be payable
as normal in case.
6. Tax Benets
Income Tax benets may be available as per the Tax Laws, subject to fulllment of conditions
stipulated therein.Income Tax laws are subject to change from time to time. Tata AIA Life Insurance
Company Ltd. does not assume responsibility on tax implication mentioned anywhere in this
document. Please consult your own tax consultant to know the tax benets available to you.
7. Assignment
Assignment is allowed as per provisions of Section 38 of the Insurance Act 1938 as amended from
time to time.
8. Nomination
Nomination is allowed as per provisions of Section 39 of the Insurance Act 1938 as amended from
time to time.
9. Fraud, Misstatement or Suppression
Any fraud, misstatement or suppression of a material fact under the policy shall be dealt as per the
provisions of Section 45 of the Insurance Act 1938 as amended from time to time.
10. Advance Premium
Collection of advance premium shall be allowed, only if the premium is collected within the same
Financial Year. However, where the premium due in one nancial year is being collected in advance in
earlier nancial year, the Company may collect the same for a maximum period of three months in
advance of the due date of the premium. The premium so collected in advance shall only be adjusted
on the due date of the premium.
11. This product is also available for sales through Company’s website www.tataaia.com
Prohibition of Rebates - Section 41 - of the Insurance Act, 1938, as amended from time to time
1. No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person
to take out or renew or continue an insurance in respect of any kind of risk relating to lives or
property in India, any rebate of the whole or part of the commission payable or any rebate of the
premium shown on the Policy, nor shall any person taking out or renewing or continuing a Policy
accept any rebate, except such rebate as may be allowed in accordance with the published
prospectuses or tables of the Insurer.
2. Any person making default in complying with the provisions of this section shall be liable for
a penalty which may extend to ten lakh rupees.
Annexure A
**All reference to age is as on last birthday.
*Premium excludes applicable taxes, duties, surcharge, cess or levies.
Sample Illustration
Tata AIA Life Insurance Company Limited (IRDAI Regn. No.110)
CIN: U66010MH2000PLC128403. Registered & Corporate Ofce:
14th Floor, Tower A, Peninsula Business Park, Senapati Bapat Marg, Lower Parel, Mumbai - 400013. Trade
logo displayed above belongs to Tata Sons Ltd and AIA Group Ltd. and is used by Tata AIA Life Insurance
Company Ltd under a license. For any information including cancellation, claims and complaints, please contact
our Insurance Advisor / Intermediary or visit Tata AIA Life’s nearest branch ofce or call 1-860-266-9966
(local charges apply) or write to us at [email protected]. Visit us at: www.tataaia.com.
Unique Reference Number: L&C/Advt/2021/Dec/2130 • UIN: 110N152V09
Individual, Non-Linked, Non-Participating,
Life Insurance Savings Plan
Tata AIA Life Guaranteed Return Insurance Plan
We, at Tata AIA Life, believe in protecting your dreams at various stages of life without compromising
on your basic needs through nancial resources. You do not have to think twice to live your dreams
as they now come with guaranteed payouts.
We present to you, Tata AIA Life Guaranteed Return Insurance Plan to meets tomorrow's requirements
along with protecting your loved ones and dreams as it ensures you of guaranteed returns.
This plan helps you fulll your medium to long term goals such as Child’s Education/ Marriage or
Retirement planning etc.
Key Features
• Flexibility to choose Plan Option: Endowment, Regular Income or Whole Life Income
• Receive Guaranteed benets on Maturity or Death
• Guaranteed Additions that boost corpus year on year under Endowment Option
• Flexibility to cover your spouse in same policy under Whole Life Income Option
• Choice of Policy Term with limited Premium Payment Term
• Enhance your protection with optional Riders
Eligibility Criteria
**All reference to age is as on last birthday. Under whole life income option both the Life Assureds are of age 50 years.
* Premium is exclusive of applicable taxes, cesses & levies.
#
Assuming policy ends after Second Death at age 100.
Key benefits in details
Maturity Benets: On survival of the Life Assured till the end of Policy Term provided the policy is in
force, following benet shall be payable basis chosen plan option:
o Option I - Endowment: On maturity of the policy a lump sum benet equal to Guaranteed Maturity
Benet (GMB) along with the accrued Guaranteed Additions (GA) shall be payable at Maturity.
Guaranteed Maturity Benet (GMB) = GMB Factor * Total Premiums Payable
Guaranteed Addition dened as a percentage of GMB shall accrued at a simple rate for each
completed policy year, throughout the Policy Term and shall be payable on Maturity or Death
whichever is earlier, subject to all due premiums being paid. GA shall accrue @ 5% of GMB. No
GA shall accrue once the policy has been converted to a Reduced Paid-up policy.
Please refer company website www.tataaia.com for details on GMB Factors
o Option II - Regular Income: A Guaranteed Annual Income (GAI) dened as a percentage of one
Annualised Premiums shall commence from the end of the year following maturity for a dened
Income Period, provided the policy is in force.
o For Policy Term 6, the GAI shall commence from the end of the 7th year to the end of the 11th
year.
o For Policy Term 7, the GAI shall commence from the end of the 8th year to the end of the 13th
year.
o For Policy Term 8, the GAI shall commence from the end of the 9th year to the end of the 15th
year.
o For Policy Term 9, the GAI shall commence from the end of the 10th year to the end of the
17tht year.
o For Policy Term 10, the GAI shall commence from the end of the 11th year to the end of the
19th year.
o For Policy Term 11, the GAI shall commence from the end of the 12th year to the end of the
21st year.
o For Policy Term 13, the GAI shall commence from the end of the 14th year to the end of the
25th year.
Where, Guaranteed Annual Income percentage factor shall be as per below table:
The policyholder has the option to receive the commuted value of the future Guaranteed Annual
Income, in the form of a lump sum benet at maturity, discounted at 7.45% p.a. for premium
paying term 5 to 10 years and 7.20% p.a. for premium paying term 12 years. This discounting
rate is not guaranteed and is subject to change based on prevailing bond yields (aligned to 10
year G-sec). However, any change in the methodology/formula shall be subject to IRDAI approval.
o Option III - Whole Life Income: : A Guaranteed Annual Income (GAI) dened as a percentage of
Total Premiums Paid shall commence from the end of the year following maturity and shall be
payable until the death of the Insured in case of single life or until the second death in case of joint
life. Where, Guaranteed Annual Income percentage factor shall be as follows:
GAI = Rate A * (Total Premiums Payable up to Rs.125,000) + Rate B * (Total Premiums Payable
in excess of Rs. 125,000) for single life.
GAI = Rate A * (Total Premiums Payable up to Rs.150,000) + Rate B * (Total Premiums Payable
in excess of Rs. 150,000) for joint life.
For Single Life policies, the rates offered to a female life will be equal to a male life with a three year
setback. All Joint Life rates are unisex.
The policyholder shall also be given the option to receive the GAI on a monthly basis wherein the
following conversion factor shall be used to arrive at the income payable. The income shall
commence from the end of the month following maturity. This option has to be chosen at
inception and cannot be altered once chosen.
After the policy term, the policyholder or the nominee(s)/legal heir(s) shall have the option to
receive a commuted value depending on the age at the time of commutation. Details of
computation of commuted value is provided in Annexure B.
Commuted Value = (F1 * Guaranteed Annual Income + F2 * Total Premiums Paid).
The factors F1 & F2 depend on the age of the surviving life assured at the time of commutation.
For joint life cases when both lives assured are alive, the age of the older of the two life assureds
is to be considered.
term 12 years under Option II. For Option III Guaranteed Maturity Benet shall be equal to the
Guaranteed Annual Income multiplied by the GMB factors provided on company website
www.tataaia.com.
“Total Premiums Payable" refers to an amount equal to the Annualised Premium multiplied by the
Premium Payment Term of the policy.
Additional Benefits and Features
Flexible premium payment modes:
You have an option to pay the premiums either Annually, Half-yearly, Quarterly and Monthly modes.
Loading on premiums will be applicable as mentioned in the table below:
Optional Riders:
You have the exibility to enhance your cover by adding the following optional riders, by paying
additional rider premium over and above your base policy premium.
1. Tata AIA Life Insurance Accidental Death and Dismemberment (Long Scale) (ADDL)
Rider (UIN: 110B028V03)
This rider ensures protection of your family by paying your nominee an amount equal to the rider sum
assured in case of an accidental death. In case of severe dismemberment like loss of limbs or bodily
functions or severe burns due to an accident, it will pay a percentage of the rider sum assured as per
the ADDL benet chart. The benets will be doubled in case of certain accidental death or
dismemberments. This rider can be attached only at Policy inception.
2. Tata AIA Life Insurance Waiver of Premium Plus (WOPP) Rider (UIN: 110B029V02)
This rider provides for the waiver of all future premiums of the basic policy which fall due in case of
death or while the proposer is totally and permanently disabled (provided that the death occurs
/disability commences before the proposer reaches 70 years or the end of premium payment term of
the basic plan, whichever is earlier). This rider can be attached only at Policy inception.
3. Tata AIA Life Insurance Non-Linked Comprehensive Protection Rider (UIN:110B033V02
or any other later version)
This rider provides coverage for various unforeseen events, such as death, disability due to accident,
a wide range of critical illnesses, or terminal illness. It allows exibility to receive bene¬t as
combination of lump sum or income for xed period, Income till survival of partner or Waiver of
Premium. This rider can be opted either while taking the policy, or at the time of any policy anniversary.
4. Tata AIA Life Insurance Non-Linked Comprehensive Health Rider (UIN: 110B031V02 or
any other later version)
The rider covers various unforeseen events and illnesses, including disability, hospitalization, and
critical illnesses such as cancer and cardiac arrests. It also provides coverage against both major
illnesses, and minor injuries or illnesses, while allowing multiple claim payouts. Rider can be opted
either while taking the policy, or at the time of any policy anniversary.
The above riders will not be offered if the outstanding term under the base policy is less than 5 years.
There is no overlap in benet offered under different riders and rider benets shall be payable
separately in addition to base plan benets. In case the product is purchased under PoS, then no
rider can be attached.
Death Benet:
In case of death of the Life Assured during the Policy Term, provided the policy is in force, the Sum
Assured on Death as dened below shall be payable.
Under Option I: Additionally, accrued Guaranteed Addition as on the date of Death shall be payable
along with Sum Assured on Death.
Under Option II: In case of death of the life insured after maturity; All the future income payments shall
be payable to the nominee/legal heir(s) of the life insured. The nominee/legal heir(s) also has the
option to receive the commuted value of the future income at the time of death of life insured,
discounted at 7.45% p.a. for premium paying term 5 to 10 years and 7.20% p.a. for premium paying
term 12 years.
Under Option III:
Death during policy term: In case of death of the life insured during the policy term; Death Benets
Multiple for Basic Sum Assured will be as follows:
Death after policy term: In case of death of the life insured after the policy term;
• For single life policies, the Total Premiums Paid shall be payable
• For joint life policies, the Total Premiums Paid shall be payable on the second death only. No
death benet is payable on the rst death.
For single life policies, the policy will terminate upon the death of the insured and no other benet
under the policy shall be payable.
For joint life policies, the policy will continue after First Death, and the policy will terminate upon the
Second Death and no other benet under the policy shall be payable
Kindly refer Annexure A for Death Benet Multiple under all Plan Options I & II.
Where,
“Annualised Premium” shall be the premium paid in a year, excluding the taxes, rider premiums
underwriting extra premiums and loading for modal premiums, if any.
“Basic Sum Assured” is equal to the Death Benet Multiple times the Single/Annualised Premium.
“Total Premiums Paid" means total of all premiums received, excluding any extra premiums, any
rider premiums and taxes.
‘Guaranteed Maturity Benet’ shall be equal to the commuted value of all the GAI at maturity,
discounted at 7.45% p.a. for premium paying term 5 to 10 years and 7.20% p.a. for premium paying
1 2
Riders are not mandatory and are available for a nominal extra cost. For more details on the benets,
premiums and exclusions under the riders please refer to the Rider Brochure or contact our Insurance
Advisor / Intermediary or visit our nearest branch ofce.
Grace Period:
A Grace Period of fteen (15) days for monthly mode and thirty (30) days for all other modes, from the
due date will be allowed for payment of each subsequent premium. The Policy will remain in force
during this period. If the full premium for the rst 2 policy years remains unpaid at the end of their
grace period the policies shall lapse from the due date of the rst unpaid premium. If any death claim
occurs during the grace period, any due premium (without interest) of the policy for the policy year, in
which the event has occurred will be deducted from the death claim pay out.
Non forfeiture provisions:
o Lapse
When the full premiums for at least two (2) years have not paid within the Grace Period, the policy
shall lapse from the due date of rst unpaid premium and no benets will be payable.
However, if full premiums for at least two (2) years have been paid and the subsequent premium
remains unpaid within the Grace Period, the Policy will be converted into a Reduced Paid-up
Policy by default.
o Reduced Paid-Up Benet
The benets to be paid in case of reduced paid-up policies are as follows.
Death Benet:
Option 1 – Endowment:
On death during the policy term, the Sum Assured on Death x RPU Factor shall be payable along with
accrued GA. The benet shall be subject to a minimum of 105% of the Total Premiums Paid up to the
date of death. The policy will terminate upon the death of the insured and no other benet under the
policy shall be payable.
Option 2 – Regular Income:
On death during the policy term, the Sum Assured on Death x RPU Factor shall be payable. The benet
shall be subject to a minimum of 105% of the Total Premiums Paid up to the date of death. The policy
will terminate upon the death of the insured and no other benet under the policy shall be payable.
In case of death during the Income Term, all the future income payments shall be payable to the
nominee/legal heir(s) of the life insured. The nominee/leg al heir(s) also has the option to receive
the commuted value of the future income at the time of death of life insured, discounted at 7.45%
p.a. for premium paying term 5 to 10 years and 7.20% p.a. for premium paying term 12 years. This
discounting rate is not guaranteed and is subject to change based on prevailing bond yields
(aligned to 10 year G-sec). However, any change in the methodology/formula shall be subject to
IRDAI approval.
Option 3 – Whole Life Income:
Single Life: On death during the policy term, the Sum Assured on Death x RPU Factor shall be payable.
The benet shall be subject to a minimum of 105% of the Total Premiums Paid up to the date of death.
The policy will terminate upon the death of the insured and no other benet under the policy shall be
payable. In case of death of the life insured after the policy term the Total Premiums Paid shall be payable.
Joint Life: On death during the policy term, the Sum Assured on Death x RPU Factor shall be
payable. The benet shall be subject to a minimum of 105% of the Total Premiums Paid up to the date
of death. The policy will terminate upon the second death and no other benet under the policy shall
be payable. In case of second death of the life insured after the policy term the Total Premiums Paid
shall be payable.No death benet is payable on the rst death.
Maturity Benet: The maturity benets detailed above shall continue to be payable multiplied by the
RPU Factor.
o Surrender Benet
The policy shall acquire a surrender value during the policy term basis the premium paying term as
dened below.
The surrender value payable is higher of the Guaranteed Surrender Value (GSV) or Special Surrender
Value (SSV) where;
• Guaranteed Surrender Value = GSV Factor on Premiums x Total Premiums Paid + GSV Factor on
Guaranteed Additions x Accrued GA, if any)
• Special Surrender Value = SSV Factor * (RPU factor x Guaranteed Maturity Benet + Accrued GA,
if any)
Where “Reduced Paid-up (RPU) Factor” shall be equal to the total number of premiums paid divided
by the total number of Premiums Payable during the entire Premium Payment Term.
Please refer company website www.tataaia.com for details on Guaranteed Surrender Value Factors.
Please refer Policy Document for details on Special Surrender Value Factors.
The Company may revise the SSV factors from time to time. However, any change in the
methodology/formula for calculating SSV factors shall be subject to IRDAI approval.
o Revival
If a premium is in default beyond the Grace Period and subject to the Policy not having been
surrendered, it may be revived, within ve years after the due date of rst unpaid premium and before
the date of maturity, subject to: (i) Policyholder’s written application for revival; (ii) production of
Insured’s current health certicate and other evidence of insurability, satisfactory to the Company; and
(iii) payment of all overdue premiums with interest.
Upon revival, the benets of the Policy shall be restored with effect from the date of revival.
The evidences and any medical requirements called for are in line with the prevailing underwriting
guidelines duly approved by the Board & the health declaration by the life assured. Any evidence of
insurability requested at the time of revival will be based on the prevailing underwriting guidelines duly
approved by the Board. The revival will be based on the Board approved underwriting policy. The
applicable interest rate for revival is determined using the SBI [or any other public sector undertaking
bank] domestic term deposit rate for ‘1 year to less than 2 years’, plus 2%. Any alteration in the
formula will be subject to prior approval of IRDAI.
The interest rate on revival is veried & updated on our company's systems every six months (on 1st
April & 1st Oct every year) as per the given formula. The current interest rate on revival from 1st
October 2021 is 7.00% simple p.a. (i.e. SBI interest rate of 5.00% + 2%).
Terms and Conditions
1. Free Look Period
If You are not satised with the terms & conditions/ features of the Policy, You have the right to
cancel the Policy by providing written notice to the Company and receive a refund of all premiums
paid without interest after deducting a) Proportionate risk premium for the period on cover
(including applicable taxes, cesses, and levies, if any) and b) Stamp duty charges and medical
examination costs which have been incurred for issuing the Policy. Such notice must be signed by
You and received directly by the Company within 15 days after You receive the policy document.
The said period of 15 days shall stand extended to 30 days if the Policy is sourced through
Distance Marketing mode.
Distance Marketing includes every activity of solicitation (including lead generation) and sale of
insurance products through voice mode, SMS electronic mode, physical mode (like postal mail) or
any other means of communication other than in person.
2. Change in Basic Sum Assured
Any change in the Basic Sum Assured is not allowed post inception of the policy.
3. Policy Loan
Provided that the policy acquires Surrender Value, policyholders may apply for a policy loan for such
an amount within the extent of 80% of Surrender Value. The Policy must be assigned to Tata AIA Life.
Loan Interest
Daily interest shall accrue on policy loan at a rate which the company shall determine. Interest shall
be payable on each policy anniversary after the loan date and until the loan is repaid. Any unpaid
interest shall be added to the principal loan and bear interest at the same rate. At any time while the
policy is in force, policyholder may repay the principal and accrued interest, on any part of the loan.
When the loan with accrued interest exceeds the Surrender Value, the policy will be terminated.
Residual amount, if any, will be refunded to the policyholder.
Interest rate applicable to policy loan will be equal to the prevailing SBI (State Bank of India) [or any
other public sector undertaking bank] domestic term deposit interest rate for tenure ‘1 year to less
than 2 years’ + 2%. This formula will be reviewed annually and only altered subject to prior approval
of IRDA of India. The interest rate on loans are veried & updated on our company's systems every six
months (on 1st April & 1st Oct every year) as per the given formula. The current interest rate for Loan
from 1st April October is 7.00% p.a. (i.e. SBI interest rate of 5.00% + 2%) compounding annually.
4. Auto Vesting
Where the policy is issued on the life of a minor, the policy shall automatically vest in the life insured
on his/her attaining age of majority. On vesting, the Company shall recognize the life insured to be the
holder of the policy.
5. Exclusion
• Suicide Claim: In case of death due to suicide within 12 months from the date of commencement
of risk under the policy or from the date of revival of the policy, as applicable, the nominee or
beneciary of the policyholder shall be entitled to at least 80% of the total premiums paid till the
date of death or the surrender value available as on the date of death whichever is higher,
provided the policy is in force.
• Waiting Period: Waiting period is applicable for policies sourced through PoS channel. If death of
any of the life insureds occurs during the rst 90 days from the Date of commencement of risk,
we shall refund Total Premiums Paid and the policy will terminate with immediate effect. Waiting
period of 90 days is not applicable for death due to accident provided all due premiums have
been paid. Death benet and other benets as stipulated in section 7 will continue to be payable
as normal in case.
6. Tax Benets
Income Tax benets may be available as per the Tax Laws, subject to fulllment of conditions
stipulated therein.Income Tax laws are subject to change from time to time. Tata AIA Life Insurance
Company Ltd. does not assume responsibility on tax implication mentioned anywhere in this
document. Please consult your own tax consultant to know the tax benets available to you.
7. Assignment
Assignment is allowed as per provisions of Section 38 of the Insurance Act 1938 as amended from
time to time.
8. Nomination
Nomination is allowed as per provisions of Section 39 of the Insurance Act 1938 as amended from
time to time.
9. Fraud, Misstatement or Suppression
Any fraud, misstatement or suppression of a material fact under the policy shall be dealt as per the
provisions of Section 45 of the Insurance Act 1938 as amended from time to time.
10. Advance Premium
Collection of advance premium shall be allowed, only if the premium is collected within the same
Financial Year. However, where the premium due in one nancial year is being collected in advance in
earlier nancial year, the Company may collect the same for a maximum period of three months in
advance of the due date of the premium. The premium so collected in advance shall only be adjusted
on the due date of the premium.
11. This product is also available for sales through Company’s website www.tataaia.com
Prohibition of Rebates - Section 41 - of the Insurance Act, 1938, as amended from time to time
1. No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person
to take out or renew or continue an insurance in respect of any kind of risk relating to lives or
property in India, any rebate of the whole or part of the commission payable or any rebate of the
premium shown on the Policy, nor shall any person taking out or renewing or continuing a Policy
accept any rebate, except such rebate as may be allowed in accordance with the published
prospectuses or tables of the Insurer.
2. Any person making default in complying with the provisions of this section shall be liable for
a penalty which may extend to ten lakh rupees.
Annexure A
PoS Boundary Conditions:
**All reference to age is as on last birthday.
*Premium excludes applicable taxes, duties, surcharge, cess or levies.
Sample Illustration
1 10 Single Life 8 50Option 1 – Single Pay
10
12
10
12
Single Life
8
6
65
Option 1 –
Regular Pay
Option Premium Min. Max. Single/ Min. Max.
Paying Policy Policy Joint Entry Entry
Term Term Term Life Age** Age**
Single
Life
5
6
7
8
9
10
11
12
10
11
12
13
14
15
16
17
40
Max
(18 minus
policy
term, 0)
65
Option 1 –
Limited Pay
Single Life
5
6
7
8
9
10
12
6
7
8
9
10
11
13
12
11
10
9
8
7
5
55
56
55
Option 2
Premium Payment
Term (PPT)/ Policy
Term (PT)/
Min/Max Entry Age
(Age as on last
birthday)/
Single/Joint Life
1 10 Single Life 8 50Option 1 – Single Pay
Option 1: Endowment Option 2: Regular Income Option 3: Whole Life Income
10
12
10
12
Single Life
8
6
55
53
Option 1 –
Regular Pay
Option Premium Min. Max. Single/ Min. Max.
Paying Policy Policy Joint Entry Entry
Term Term Term Life Age** Age**
Single
Life
5
6
7
8
9
10
11
12
10
11
12
13
14
15
16
17
55
54
53
52
51
50
49
48
20
Max
(18 minus
policy
term, 0)
Option 1 –
Limited Pay
Premium Payment
Term (PPT)/ Policy
Term (PT)/ Min/Max
Entry Age (Age as on
last birthday)/
Single/Joint Life
Plan Options (to be
selected at inception)
Single
Life/
Joint Life
Single Pay
5
6
7
8
9
10
11
12
5
5
6
7
8
9
10
11
12
45
Option 3
Minimum – 18
Maximum – Subject to lower of (Max age at entry plus policy term
OR 85 years)
65
Premium Payment Term
(PPT)/ Policy Term (PT)/
Min/Max Entry Age
(Age as on last birthday)/
Single/Joint Life
Age at Maturity** (Years)
“Basic Sum Assured” shall be equal to the Death Benet Multiple x
Annualised Premium.
Basic Sum Assured will vary by Plan Option, Entry Age and
Premium Payment Term.
Basic Sum Assured
Min: 24,000 per annum
Max: No Limit, subject to underwriting
Premium* (R)
(Premium in multiples
of 1,000)
Single, Annual/ Half-yearly / Quarterly/ Monthly
Premium Payment Mode
Option Premium Min. Max. Single/ Min. Max.
Paying Policy Policy Joint Entry Entry
Term Term Term Life Age** Age**
**All reference to age is as on last birthday.
*Premium excludes applicable taxes, duties, surcharge, cess or levies.
Tata AIA Life Guaranteed Return Insurance Plan
We, at Tata AIA Life, believe in protecting your dreams at various stages of life without compromising
on your basic needs through nancial resources. You do not have to think twice to live your dreams
as they now come with guaranteed payouts.
We present to you, Tata AIA Life Guaranteed Return Insurance Plan to meets tomorrow's requirements
along with protecting your loved ones and dreams as it ensures you of guaranteed returns.
This plan helps you fulll your medium to long term goals such as Child’s Education/ Marriage or
Retirement planning etc.
Key Features
• Flexibility to choose Plan Option: Endowment, Regular Income or Whole Life Income
• Receive Guaranteed benets on Maturity or Death
• Guaranteed Additions that boost corpus year on year under Endowment Option
• Flexibility to cover your spouse in same policy under Whole Life Income Option
• Choice of Policy Term with limited Premium Payment Term
• Enhance your protection with optional Riders
Eligibility Criteria
**All reference to age is as on last birthday. Under whole life income option both the Life Assureds are of age 50 years.
* Premium is exclusive of applicable taxes, cesses & levies.
#
Assuming policy ends after Second Death at age 100.
Key benefits in details
Maturity Benets: On survival of the Life Assured till the end of Policy Term provided the policy is in
force, following benet shall be payable basis chosen plan option:
o Option I - Endowment: On maturity of the policy a lump sum benet equal to Guaranteed Maturity
Benet (GMB) along with the accrued Guaranteed Additions (GA) shall be payable at Maturity.
Guaranteed Maturity Benet (GMB) = GMB Factor * Total Premiums Payable
Guaranteed Addition dened as a percentage of GMB shall accrued at a simple rate for each
completed policy year, throughout the Policy Term and shall be payable on Maturity or Death
whichever is earlier, subject to all due premiums being paid. GA shall accrue @ 5% of GMB. No
GA shall accrue once the policy has been converted to a Reduced Paid-up policy.
Please refer company website www.tataaia.com for details on GMB Factors
o Option II - Regular Income: A Guaranteed Annual Income (GAI) dened as a percentage of one
Annualised Premiums shall commence from the end of the year following maturity for a dened
Income Period, provided the policy is in force.
o For Policy Term 6, the GAI shall commence from the end of the 7th year to the end of the 11th
year.
o For Policy Term 7, the GAI shall commence from the end of the 8th year to the end of the 13th
year.
o For Policy Term 8, the GAI shall commence from the end of the 9th year to the end of the 15th
year.
o For Policy Term 9, the GAI shall commence from the end of the 10th year to the end of the
17tht year.
o For Policy Term 10, the GAI shall commence from the end of the 11th year to the end of the
19th year.
o For Policy Term 11, the GAI shall commence from the end of the 12th year to the end of the
21st year.
o For Policy Term 13, the GAI shall commence from the end of the 14th year to the end of the
25th year.
Where, Guaranteed Annual Income percentage factor shall be as per below table:
The policyholder has the option to receive the commuted value of the future Guaranteed Annual
Income, in the form of a lump sum benet at maturity, discounted at 7.45% p.a. for premium
paying term 5 to 10 years and 7.20% p.a. for premium paying term 12 years. This discounting
rate is not guaranteed and is subject to change based on prevailing bond yields (aligned to 10
year G-sec). However, any change in the methodology/formula shall be subject to IRDAI approval.
o Option III - Whole Life Income: : A Guaranteed Annual Income (GAI) dened as a percentage of
Total Premiums Paid shall commence from the end of the year following maturity and shall be
payable until the death of the Insured in case of single life or until the second death in case of joint
life. Where, Guaranteed Annual Income percentage factor shall be as follows:
GAI = Rate A * (Total Premiums Payable up to Rs.125,000) + Rate B * (Total Premiums Payable
in excess of Rs. 125,000) for single life.
GAI = Rate A * (Total Premiums Payable up to Rs.150,000) + Rate B * (Total Premiums Payable
in excess of Rs. 150,000) for joint life.
For Single Life policies, the rates offered to a female life will be equal to a male life with a three year
setback. All Joint Life rates are unisex.
The policyholder shall also be given the option to receive the GAI on a monthly basis wherein the
following conversion factor shall be used to arrive at the income payable. The income shall
commence from the end of the month following maturity. This option has to be chosen at
inception and cannot be altered once chosen.
After the policy term, the policyholder or the nominee(s)/legal heir(s) shall have the option to
receive a commuted value depending on the age at the time of commutation. Details of
computation of commuted value is provided in Annexure B.
Commuted Value = (F1 * Guaranteed Annual Income + F2 * Total Premiums Paid).
The factors F1 & F2 depend on the age of the surviving life assured at the time of commutation.
For joint life cases when both lives assured are alive, the age of the older of the two life assureds
is to be considered.
term 12 years under Option II. For Option III Guaranteed Maturity Benet shall be equal to the
Guaranteed Annual Income multiplied by the GMB factors provided on company website
www.tataaia.com.
“Total Premiums Payable" refers to an amount equal to the Annualised Premium multiplied by the
Premium Payment Term of the policy.
Additional Benefits and Features
Flexible premium payment modes:
You have an option to pay the premiums either Annually, Half-yearly, Quarterly and Monthly modes.
Loading on premiums will be applicable as mentioned in the table below:
Optional Riders:
You have the exibility to enhance your cover by adding the following optional riders, by paying
additional rider premium over and above your base policy premium.
1. Tata AIA Life Insurance Accidental Death and Dismemberment (Long Scale) (ADDL)
Rider (UIN: 110B028V03)
This rider ensures protection of your family by paying your nominee an amount equal to the rider sum
assured in case of an accidental death. In case of severe dismemberment like loss of limbs or bodily
functions or severe burns due to an accident, it will pay a percentage of the rider sum assured as per
the ADDL benet chart. The benets will be doubled in case of certain accidental death or
dismemberments. This rider can be attached only at Policy inception.
2. Tata AIA Life Insurance Waiver of Premium Plus (WOPP) Rider (UIN: 110B029V02)
This rider provides for the waiver of all future premiums of the basic policy which fall due in case of
death or while the proposer is totally and permanently disabled (provided that the death occurs
/disability commences before the proposer reaches 70 years or the end of premium payment term of
the basic plan, whichever is earlier). This rider can be attached only at Policy inception.
3. Tata AIA Life Insurance Non-Linked Comprehensive Protection Rider (UIN:110B033V02
or any other later version)
This rider provides coverage for various unforeseen events, such as death, disability due to accident,
a wide range of critical illnesses, or terminal illness. It allows exibility to receive bene¬t as
combination of lump sum or income for xed period, Income till survival of partner or Waiver of
Premium. This rider can be opted either while taking the policy, or at the time of any policy anniversary.
4. Tata AIA Life Insurance Non-Linked Comprehensive Health Rider (UIN: 110B031V02 or
any other later version)
The rider covers various unforeseen events and illnesses, including disability, hospitalization, and
critical illnesses such as cancer and cardiac arrests. It also provides coverage against both major
illnesses, and minor injuries or illnesses, while allowing multiple claim payouts. Rider can be opted
either while taking the policy, or at the time of any policy anniversary.
The above riders will not be offered if the outstanding term under the base policy is less than 5 years.
There is no overlap in benet offered under different riders and rider benets shall be payable
separately in addition to base plan benets. In case the product is purchased under PoS, then no
rider can be attached.
Death Benet:
In case of death of the Life Assured during the Policy Term, provided the policy is in force, the Sum
Assured on Death as dened below shall be payable.
Under Option I: Additionally, accrued Guaranteed Addition as on the date of Death shall be payable
along with Sum Assured on Death.
Under Option II: In case of death of the life insured after maturity; All the future income payments shall
be payable to the nominee/legal heir(s) of the life insured. The nominee/legal heir(s) also has the
option to receive the commuted value of the future income at the time of death of life insured,
discounted at 7.45% p.a. for premium paying term 5 to 10 years and 7.20% p.a. for premium paying
term 12 years.
Under Option III:
Death during policy term: In case of death of the life insured during the policy term; Death Benets
Multiple for Basic Sum Assured will be as follows:
Death after policy term: In case of death of the life insured after the policy term;
• For single life policies, the Total Premiums Paid shall be payable
• For joint life policies, the Total Premiums Paid shall be payable on the second death only. No
death benet is payable on the rst death.
For single life policies, the policy will terminate upon the death of the insured and no other benet
under the policy shall be payable.
For joint life policies, the policy will continue after First Death, and the policy will terminate upon the
Second Death and no other benet under the policy shall be payable
Kindly refer Annexure A for Death Benet Multiple under all Plan Options I & II.
Where,
“Annualised Premium” shall be the premium paid in a year, excluding the taxes, rider premiums
underwriting extra premiums and loading for modal premiums, if any.
“Basic Sum Assured” is equal to the Death Benet Multiple times the Single/Annualised Premium.
“Total Premiums Paid" means total of all premiums received, excluding any extra premiums, any
rider premiums and taxes.
‘Guaranteed Maturity Benet’ shall be equal to the commuted value of all the GAI at maturity,
discounted at 7.45% p.a. for premium paying term 5 to 10 years and 7.20% p.a. for premium paying
Plan Option Regular Income Policy Term 11 Premium Payment Term 10
Entry Age 35 Year** Premium Frequency Annual Basic Sum Assured r 14,75,000
Policy
Annual
Cumulative Premium
Guaranteed Benet
Age
Year
Premium*
Guaranteed Death
Annual Income
Benet
35 1 1,00,000 1,00,000 - 14,75,000
36 to 44 2 to 10 1,00,000 10,00,000 - 14,75,000
45 11 - - - 14,75,000
46 to 55 12 to 21 - - 1,95,250 -
Total Premiums Paid* 10,00,000 Total Guaranteed Benet 19,52,500
Plan Option
Whole Life
Policy Term 5
Premium
Single Pay
Income Payment Term
Entry Age 50 Year** Single Life/Joint Life Joint Life
Basic Sum Assured
r 12,50,000
(First Death)
Basic Sum Assured
r 1,00,00,000
(Secound Death)
Age Policy Single Guaranteed Benet
Year Premium*
Whole Life Income Benet on Benet on
(Annual Mode) First Death Second Death
50 1 to 5 10,00,000 - 12,50,000 1,00,00,000
55 6 - 70,535 0 10,00,000
100 51
#
- 70,535 0 10,00,000
Total Premiums Paid* 10,00,000 Total Guaranteed Benet
#
32,44,610
Plan Option Endowment Policy Term 20 Premium Payment Term 10
Entry Age 35 Year** Premium Frequency Annual Basic Sum Assured R 14,75,000
Policy Annual Cumulative Accrued Guaranteed Benet
Year Premium* Premium Guaranteed Additions
Maturity Death
Benet Benet
1 1,00,000 1,00,000 61,225 14,75,000
10 1,00,000 10,00,000 6,12,250 20,26,025
20 - - 12,24,500 12,24,500 26,38,275
Total Premiums Paid* 10,00,000 Total Guaranteed Benet 24,49,000
Riders are not mandatory and are available for a nominal extra cost. For more details on the benets,
premiums and exclusions under the riders please refer to the Rider Brochure or contact our Insurance
Advisor / Intermediary or visit our nearest branch ofce.
Grace Period:
A Grace Period of fteen (15) days for monthly mode and thirty (30) days for all other modes, from the
due date will be allowed for payment of each subsequent premium. The Policy will remain in force
during this period. If the full premium for the rst 2 policy years remains unpaid at the end of their
grace period the policies shall lapse from the due date of the rst unpaid premium. If any death claim
occurs during the grace period, any due premium (without interest) of the policy for the policy year, in
which the event has occurred will be deducted from the death claim pay out.
Non forfeiture provisions:
o Lapse
When the full premiums for at least two (2) years have not paid within the Grace Period, the policy
shall lapse from the due date of rst unpaid premium and no benets will be payable.
However, if full premiums for at least two (2) years have been paid and the subsequent premium
remains unpaid within the Grace Period, the Policy will be converted into a Reduced Paid-up
Policy by default.
o Reduced Paid-Up Benet
The benets to be paid in case of reduced paid-up policies are as follows.
Death Benet:
Option 1 – Endowment:
On death during the policy term, the Sum Assured on Death x RPU Factor shall be payable along with
accrued GA. The benet shall be subject to a minimum of 105% of the Total Premiums Paid up to the
date of death. The policy will terminate upon the death of the insured and no other benet under the
policy shall be payable.
Option 2 – Regular Income:
On death during the policy term, the Sum Assured on Death x RPU Factor shall be payable. The benet
shall be subject to a minimum of 105% of the Total Premiums Paid up to the date of death. The policy
will terminate upon the death of the insured and no other benet under the policy shall be payable.
In case of death during the Income Term, all the future income payments shall be payable to the
nominee/legal heir(s) of the life insured. The nominee/leg al heir(s) also has the option to receive
the commuted value of the future income at the time of death of life insured, discounted at 7.45%
p.a. for premium paying term 5 to 10 years and 7.20% p.a. for premium paying term 12 years. This
discounting rate is not guaranteed and is subject to change based on prevailing bond yields
(aligned to 10 year G-sec). However, any change in the methodology/formula shall be subject to
IRDAI approval.
Option 3 – Whole Life Income:
Single Life: On death during the policy term, the Sum Assured on Death x RPU Factor shall be payable.
The benet shall be subject to a minimum of 105% of the Total Premiums Paid up to the date of death.
The policy will terminate upon the death of the insured and no other benet under the policy shall be
payable. In case of death of the life insured after the policy term the Total Premiums Paid shall be payable.
Joint Life: On death during the policy term, the Sum Assured on Death x RPU Factor shall be
payable. The benet shall be subject to a minimum of 105% of the Total Premiums Paid up to the date
of death. The policy will terminate upon the second death and no other benet under the policy shall
be payable. In case of second death of the life insured after the policy term the Total Premiums Paid
shall be payable.No death benet is payable on the rst death.
Maturity Benet: The maturity benets detailed above shall continue to be payable multiplied by the
RPU Factor.
o Surrender Benet
The policy shall acquire a surrender value during the policy term basis the premium paying term as
dened below.
The surrender value payable is higher of the Guaranteed Surrender Value (GSV) or Special Surrender
Value (SSV) where;
• Guaranteed Surrender Value = GSV Factor on Premiums x Total Premiums Paid + GSV Factor on
Guaranteed Additions x Accrued GA, if any)
• Special Surrender Value = SSV Factor * (RPU factor x Guaranteed Maturity Benet + Accrued GA,
if any)
Where “Reduced Paid-up (RPU) Factor” shall be equal to the total number of premiums paid divided
by the total number of Premiums Payable during the entire Premium Payment Term.
Please refer company website www.tataaia.com for details on Guaranteed Surrender Value Factors.
Please refer Policy Document for details on Special Surrender Value Factors.
The Company may revise the SSV factors from time to time. However, any change in the
methodology/formula for calculating SSV factors shall be subject to IRDAI approval.
o Revival
If a premium is in default beyond the Grace Period and subject to the Policy not having been
surrendered, it may be revived, within ve years after the due date of rst unpaid premium and before
the date of maturity, subject to: (i) Policyholder’s written application for revival; (ii) production of
Insured’s current health certicate and other evidence of insurability, satisfactory to the Company; and
(iii) payment of all overdue premiums with interest.
Upon revival, the benets of the Policy shall be restored with effect from the date of revival.
The evidences and any medical requirements called for are in line with the prevailing underwriting
guidelines duly approved by the Board & the health declaration by the life assured. Any evidence of
insurability requested at the time of revival will be based on the prevailing underwriting guidelines duly
approved by the Board. The revival will be based on the Board approved underwriting policy. The
applicable interest rate for revival is determined using the SBI [or any other public sector undertaking
bank] domestic term deposit rate for ‘1 year to less than 2 years’, plus 2%. Any alteration in the
formula will be subject to prior approval of IRDAI.
The interest rate on revival is veried & updated on our company's systems every six months (on 1st
April & 1st Oct every year) as per the given formula. The current interest rate on revival from 1st
October 2021 is 7.00% simple p.a. (i.e. SBI interest rate of 5.00% + 2%).
Terms and Conditions
1. Free Look Period
If You are not satised with the terms & conditions/ features of the Policy, You have the right to
cancel the Policy by providing written notice to the Company and receive a refund of all premiums
paid without interest after deducting a) Proportionate risk premium for the period on cover
(including applicable taxes, cesses, and levies, if any) and b) Stamp duty charges and medical
examination costs which have been incurred for issuing the Policy. Such notice must be signed by
You and received directly by the Company within 15 days after You receive the policy document.
The said period of 15 days shall stand extended to 30 days if the Policy is sourced through
Distance Marketing mode.
Distance Marketing includes every activity of solicitation (including lead generation) and sale of
insurance products through voice mode, SMS electronic mode, physical mode (like postal mail) or
any other means of communication other than in person.
2. Change in Basic Sum Assured
Any change in the Basic Sum Assured is not allowed post inception of the policy.
3. Policy Loan
Provided that the policy acquires Surrender Value, policyholders may apply for a policy loan for such
an amount within the extent of 80% of Surrender Value. The Policy must be assigned to Tata AIA Life.
Loan Interest
Daily interest shall accrue on policy loan at a rate which the company shall determine. Interest shall
be payable on each policy anniversary after the loan date and until the loan is repaid. Any unpaid
interest shall be added to the principal loan and bear interest at the same rate. At any time while the
policy is in force, policyholder may repay the principal and accrued interest, on any part of the loan.
When the loan with accrued interest exceeds the Surrender Value, the policy will be terminated.
Residual amount, if any, will be refunded to the policyholder.
Interest rate applicable to policy loan will be equal to the prevailing SBI (State Bank of India) [or any
other public sector undertaking bank] domestic term deposit interest rate for tenure ‘1 year to less
than 2 years’ + 2%. This formula will be reviewed annually and only altered subject to prior approval
of IRDA of India. The interest rate on loans are veried & updated on our company's systems every six
months (on 1st April & 1st Oct every year) as per the given formula. The current interest rate for Loan
from 1st April October is 7.00% p.a. (i.e. SBI interest rate of 5.00% + 2%) compounding annually.
4. Auto Vesting
Where the policy is issued on the life of a minor, the policy shall automatically vest in the life insured
on his/her attaining age of majority. On vesting, the Company shall recognize the life insured to be the
holder of the policy.
5. Exclusion
• Suicide Claim: In case of death due to suicide within 12 months from the date of commencement
of risk under the policy or from the date of revival of the policy, as applicable, the nominee or
beneciary of the policyholder shall be entitled to at least 80% of the total premiums paid till the
date of death or the surrender value available as on the date of death whichever is higher,
provided the policy is in force.
• Waiting Period: Waiting period is applicable for policies sourced through PoS channel. If death of
any of the life insureds occurs during the rst 90 days from the Date of commencement of risk,
we shall refund Total Premiums Paid and the policy will terminate with immediate effect. Waiting
period of 90 days is not applicable for death due to accident provided all due premiums have
been paid. Death benet and other benets as stipulated in section 7 will continue to be payable
as normal in case.
6. Tax Benets
Income Tax benets may be available as per the Tax Laws, subject to fulllment of conditions
stipulated therein.Income Tax laws are subject to change from time to time. Tata AIA Life Insurance
Company Ltd. does not assume responsibility on tax implication mentioned anywhere in this
document. Please consult your own tax consultant to know the tax benets available to you.
7. Assignment
Assignment is allowed as per provisions of Section 38 of the Insurance Act 1938 as amended from
time to time.
8. Nomination
Nomination is allowed as per provisions of Section 39 of the Insurance Act 1938 as amended from
time to time.
9. Fraud, Misstatement or Suppression
Any fraud, misstatement or suppression of a material fact under the policy shall be dealt as per the
provisions of Section 45 of the Insurance Act 1938 as amended from time to time.
10. Advance Premium
Collection of advance premium shall be allowed, only if the premium is collected within the same
Financial Year. However, where the premium due in one nancial year is being collected in advance in
earlier nancial year, the Company may collect the same for a maximum period of three months in
advance of the due date of the premium. The premium so collected in advance shall only be adjusted
on the due date of the premium.
11. This product is also available for sales through Company’s website www.tataaia.com
Prohibition of Rebates - Section 41 - of the Insurance Act, 1938, as amended from time to time
1. No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person
to take out or renew or continue an insurance in respect of any kind of risk relating to lives or
property in India, any rebate of the whole or part of the commission payable or any rebate of the
premium shown on the Policy, nor shall any person taking out or renewing or continuing a Policy
accept any rebate, except such rebate as may be allowed in accordance with the published
prospectuses or tables of the Insurer.
2. Any person making default in complying with the provisions of this section shall be liable for
a penalty which may extend to ten lakh rupees.
Annexure A
3 4
**All reference to age is as on last birthday.
*Premium excludes applicable taxes, duties, surcharge, cess or levies.
Sample Illustration
Single Pay
5
6
7
8
9
10
11
12
5
5
6
7
8
9
10
11
12
Single
Life/
Joint Life
45
60
60
59
58
57
56
55
54
53
Option 3
Option Premium Min. Max. Single/ Min. Max.
Paying Policy Policy Joint Entry Entry
Term Term Term Life Age** Age**
Single
Life
5
6
7
8
9
10
12
6
7
8
9
10
11
13
12
11
10
9
8
7
5
55
54
52
Option 2
Premium Payment
Term (PPT)/ Policy
Term (PT)/ Min/Max
Entry Age (Age as on
last birthday)/
Single/Joint Life
Minimum – 18
Maximum – Subject to lower of (Max age at entry plus policy term OR 65 years)
Age at Maturity**
(Years)
“Basic Sum Assured” shall be equal to the Death Benet Multiple x
Annualised Premium.
Basic Sum Assured will vary by Plan Option, Entry Age and
Premium Payment Term.
Basic Sum
Assured
Min: 24,000 per annum
Max: Subject to maximum Sum Assured on death of R 25,00,000
Premium* (R)
(Premium in multiples
of 1,000)
Single, Annual/ Half-yearly / Quarterly/ Monthly
Premium Payment
Mode
Tata AIA Life Guaranteed Return Insurance Plan
We, at Tata AIA Life, believe in protecting your dreams at various stages of life without compromising
on your basic needs through nancial resources. You do not have to think twice to live your dreams
as they now come with guaranteed payouts.
We present to you, Tata AIA Life Guaranteed Return Insurance Plan to meets tomorrow's requirements
along with protecting your loved ones and dreams as it ensures you of guaranteed returns.
This plan helps you fulll your medium to long term goals such as Child’s Education/ Marriage or
Retirement planning etc.
Key Features
• Flexibility to choose Plan Option: Endowment, Regular Income or Whole Life Income
• Receive Guaranteed benets on Maturity or Death
• Guaranteed Additions that boost corpus year on year under Endowment Option
• Flexibility to cover your spouse in same policy under Whole Life Income Option
• Choice of Policy Term with limited Premium Payment Term
• Enhance your protection with optional Riders
Eligibility Criteria
**All reference to age is as on last birthday. Under whole life income option both the Life Assureds are of age 50 years.
* Premium is exclusive of applicable taxes, cesses & levies.
#
Assuming policy ends after Second Death at age 100.
Key benefits in details
Maturity Benets: On survival of the Life Assured till the end of Policy Term provided the policy is in
force, following benet shall be payable basis chosen plan option:
o Option I - Endowment: On maturity of the policy a lump sum benet equal to Guaranteed Maturity
Benet (GMB) along with the accrued Guaranteed Additions (GA) shall be payable at Maturity.
Guaranteed Maturity Benet (GMB) = GMB Factor * Total Premiums Payable
Guaranteed Addition dened as a percentage of GMB shall accrued at a simple rate for each
completed policy year, throughout the Policy Term and shall be payable on Maturity or Death
whichever is earlier, subject to all due premiums being paid. GA shall accrue @ 5% of GMB. No
GA shall accrue once the policy has been converted to a Reduced Paid-up policy.
Please refer company website www.tataaia.com for details on GMB Factors
o Option II - Regular Income: A Guaranteed Annual Income (GAI) dened as a percentage of one
Annualised Premiums shall commence from the end of the year following maturity for a dened
Income Period, provided the policy is in force.
o For Policy Term 6, the GAI shall commence from the end of the 7th year to the end of the 11th
year.
o For Policy Term 7, the GAI shall commence from the end of the 8th year to the end of the 13th
year.
o For Policy Term 8, the GAI shall commence from the end of the 9th year to the end of the 15th
year.
o For Policy Term 9, the GAI shall commence from the end of the 10th year to the end of the
17tht year.
o For Policy Term 10, the GAI shall commence from the end of the 11th year to the end of the
19th year.
o For Policy Term 11, the GAI shall commence from the end of the 12th year to the end of the
21st year.
o For Policy Term 13, the GAI shall commence from the end of the 14th year to the end of the
25th year.
Where, Guaranteed Annual Income percentage factor shall be as per below table:
The policyholder has the option to receive the commuted value of the future Guaranteed Annual
Income, in the form of a lump sum benet at maturity, discounted at 7.45% p.a. for premium
paying term 5 to 10 years and 7.20% p.a. for premium paying term 12 years. This discounting
rate is not guaranteed and is subject to change based on prevailing bond yields (aligned to 10
year G-sec). However, any change in the methodology/formula shall be subject to IRDAI approval.
o Option III - Whole Life Income: : A Guaranteed Annual Income (GAI) dened as a percentage of
Total Premiums Paid shall commence from the end of the year following maturity and shall be
payable until the death of the Insured in case of single life or until the second death in case of joint
life. Where, Guaranteed Annual Income percentage factor shall be as follows:
GAI = Rate A * (Total Premiums Payable up to Rs.125,000) + Rate B * (Total Premiums Payable
in excess of Rs. 125,000) for single life.
GAI = Rate A * (Total Premiums Payable up to Rs.150,000) + Rate B * (Total Premiums Payable
in excess of Rs. 150,000) for joint life.
For Single Life policies, the rates offered to a female life will be equal to a male life with a three year
setback. All Joint Life rates are unisex.
The policyholder shall also be given the option to receive the GAI on a monthly basis wherein the
following conversion factor shall be used to arrive at the income payable. The income shall
commence from the end of the month following maturity. This option has to be chosen at
inception and cannot be altered once chosen.
After the policy term, the policyholder or the nominee(s)/legal heir(s) shall have the option to
receive a commuted value depending on the age at the time of commutation. Details of
computation of commuted value is provided in Annexure B.
Commuted Value = (F1 * Guaranteed Annual Income + F2 * Total Premiums Paid).
The factors F1 & F2 depend on the age of the surviving life assured at the time of commutation.
For joint life cases when both lives assured are alive, the age of the older of the two life assureds
is to be considered.
term 12 years under Option II. For Option III Guaranteed Maturity Benet shall be equal to the
Guaranteed Annual Income multiplied by the GMB factors provided on company website
www.tataaia.com.
“Total Premiums Payable" refers to an amount equal to the Annualised Premium multiplied by the
Premium Payment Term of the policy.
Additional Benefits and Features
Flexible premium payment modes:
You have an option to pay the premiums either Annually, Half-yearly, Quarterly and Monthly modes.
Loading on premiums will be applicable as mentioned in the table below:
Optional Riders:
You have the exibility to enhance your cover by adding the following optional riders, by paying
additional rider premium over and above your base policy premium.
1. Tata AIA Life Insurance Accidental Death and Dismemberment (Long Scale) (ADDL)
Rider (UIN: 110B028V03)
This rider ensures protection of your family by paying your nominee an amount equal to the rider sum
assured in case of an accidental death. In case of severe dismemberment like loss of limbs or bodily
functions or severe burns due to an accident, it will pay a percentage of the rider sum assured as per
the ADDL benet chart. The benets will be doubled in case of certain accidental death or
dismemberments. This rider can be attached only at Policy inception.
2. Tata AIA Life Insurance Waiver of Premium Plus (WOPP) Rider (UIN: 110B029V02)
This rider provides for the waiver of all future premiums of the basic policy which fall due in case of
death or while the proposer is totally and permanently disabled (provided that the death occurs
/disability commences before the proposer reaches 70 years or the end of premium payment term of
the basic plan, whichever is earlier). This rider can be attached only at Policy inception.
3. Tata AIA Life Insurance Non-Linked Comprehensive Protection Rider (UIN:110B033V02
or any other later version)
This rider provides coverage for various unforeseen events, such as death, disability due to accident,
a wide range of critical illnesses, or terminal illness. It allows exibility to receive bene¬t as
combination of lump sum or income for xed period, Income till survival of partner or Waiver of
Premium. This rider can be opted either while taking the policy, or at the time of any policy anniversary.
4. Tata AIA Life Insurance Non-Linked Comprehensive Health Rider (UIN: 110B031V02 or
any other later version)
The rider covers various unforeseen events and illnesses, including disability, hospitalization, and
critical illnesses such as cancer and cardiac arrests. It also provides coverage against both major
illnesses, and minor injuries or illnesses, while allowing multiple claim payouts. Rider can be opted
either while taking the policy, or at the time of any policy anniversary.
The above riders will not be offered if the outstanding term under the base policy is less than 5 years.
There is no overlap in benet offered under different riders and rider benets shall be payable
separately in addition to base plan benets. In case the product is purchased under PoS, then no
rider can be attached.
Death Benet:
In case of death of the Life Assured during the Policy Term, provided the policy is in force, the Sum
Assured on Death as dened below shall be payable.
Under Option I: Additionally, accrued Guaranteed Addition as on the date of Death shall be payable
along with Sum Assured on Death.
Under Option II: In case of death of the life insured after maturity; All the future income payments shall
be payable to the nominee/legal heir(s) of the life insured. The nominee/legal heir(s) also has the
option to receive the commuted value of the future income at the time of death of life insured,
discounted at 7.45% p.a. for premium paying term 5 to 10 years and 7.20% p.a. for premium paying
term 12 years.
Under Option III:
Death during policy term: In case of death of the life insured during the policy term; Death Benets
Multiple for Basic Sum Assured will be as follows:
Death after policy term: In case of death of the life insured after the policy term;
• For single life policies, the Total Premiums Paid shall be payable
• For joint life policies, the Total Premiums Paid shall be payable on the second death only. No
death benet is payable on the rst death.
For single life policies, the policy will terminate upon the death of the insured and no other benet
under the policy shall be payable.
For joint life policies, the policy will continue after First Death, and the policy will terminate upon the
Second Death and no other benet under the policy shall be payable
Kindly refer Annexure A for Death Benet Multiple under all Plan Options I & II.
Where,
“Annualised Premium” shall be the premium paid in a year, excluding the taxes, rider premiums
underwriting extra premiums and loading for modal premiums, if any.
“Basic Sum Assured” is equal to the Death Benet Multiple times the Single/Annualised Premium.
“Total Premiums Paid" means total of all premiums received, excluding any extra premiums, any
rider premiums and taxes.
‘Guaranteed Maturity Benet’ shall be equal to the commuted value of all the GAI at maturity,
discounted at 7.45% p.a. for premium paying term 5 to 10 years and 7.20% p.a. for premium paying
Riders are not mandatory and are available for a nominal extra cost. For more details on the benets,
premiums and exclusions under the riders please refer to the Rider Brochure or contact our Insurance
Advisor / Intermediary or visit our nearest branch ofce.
Grace Period:
A Grace Period of fteen (15) days for monthly mode and thirty (30) days for all other modes, from the
due date will be allowed for payment of each subsequent premium. The Policy will remain in force
during this period. If the full premium for the rst 2 policy years remains unpaid at the end of their
grace period the policies shall lapse from the due date of the rst unpaid premium. If any death claim
occurs during the grace period, any due premium (without interest) of the policy for the policy year, in
which the event has occurred will be deducted from the death claim pay out.
Non forfeiture provisions:
o Lapse
When the full premiums for at least two (2) years have not paid within the Grace Period, the policy
shall lapse from the due date of rst unpaid premium and no benets will be payable.
However, if full premiums for at least two (2) years have been paid and the subsequent premium
remains unpaid within the Grace Period, the Policy will be converted into a Reduced Paid-up
Policy by default.
o Reduced Paid-Up Benet
The benets to be paid in case of reduced paid-up policies are as follows.
Death Benet:
Option 1 – Endowment:
On death during the policy term, the Sum Assured on Death x RPU Factor shall be payable along with
accrued GA. The benet shall be subject to a minimum of 105% of the Total Premiums Paid up to the
date of death. The policy will terminate upon the death of the insured and no other benet under the
policy shall be payable.
Option 2 – Regular Income:
On death during the policy term, the Sum Assured on Death x RPU Factor shall be payable. The benet
shall be subject to a minimum of 105% of the Total Premiums Paid up to the date of death. The policy
will terminate upon the death of the insured and no other benet under the policy shall be payable.
In case of death during the Income Term, all the future income payments shall be payable to the
nominee/legal heir(s) of the life insured. The nominee/leg al heir(s) also has the option to receive
the commuted value of the future income at the time of death of life insured, discounted at 7.45%
p.a. for premium paying term 5 to 10 years and 7.20% p.a. for premium paying term 12 years. This
discounting rate is not guaranteed and is subject to change based on prevailing bond yields
(aligned to 10 year G-sec). However, any change in the methodology/formula shall be subject to
IRDAI approval.
Option 3 – Whole Life Income:
Single Life: On death during the policy term, the Sum Assured on Death x RPU Factor shall be payable.
The benet shall be subject to a minimum of 105% of the Total Premiums Paid up to the date of death.
The policy will terminate upon the death of the insured and no other benet under the policy shall be
payable. In case of death of the life insured after the policy term the Total Premiums Paid shall be payable.
Joint Life: On death during the policy term, the Sum Assured on Death x RPU Factor shall be
payable. The benet shall be subject to a minimum of 105% of the Total Premiums Paid up to the date
of death. The policy will terminate upon the second death and no other benet under the policy shall
be payable. In case of second death of the life insured after the policy term the Total Premiums Paid
shall be payable.No death benet is payable on the rst death.
Maturity Benet: The maturity benets detailed above shall continue to be payable multiplied by the
RPU Factor.
Option I & II
Sum Assured on Death shall be dened as the
highest of
• 10 times the Single/Annualised Premium for age
less than 45 years or 7 times the
Single/Annualised Premium for age 45 and above
• 105% of the Total Premiums Paid up to date
of Death
• Guaranteed Maturity Benet
• Basic Sum Assured
Option III
Sum Assured on Death shall be dened as the
highest of
• 1.25 times the Single Premium in case of Single Pay
and 7 times the Annualised Premium in case of
premium paying term of 5/6/7/8/9/10/11/12 years
• 105% of the Total Premiums Paid up to date
of death
• Guaranteed Maturity Benet
• Basic Sum Assured
Frequency Payout
Monthly 96% x GAI x 1/12
o Surrender Benet
The policy shall acquire a surrender value during the policy term basis the premium paying term as
dened below.
The surrender value payable is higher of the Guaranteed Surrender Value (GSV) or Special Surrender
Value (SSV) where;
• Guaranteed Surrender Value = GSV Factor on Premiums x Total Premiums Paid + GSV Factor on
Guaranteed Additions x Accrued GA, if any)
• Special Surrender Value = SSV Factor * (RPU factor x Guaranteed Maturity Benet + Accrued GA,
if any)
Where “Reduced Paid-up (RPU) Factor” shall be equal to the total number of premiums paid divided
by the total number of Premiums Payable during the entire Premium Payment Term.
Please refer company website www.tataaia.com for details on Guaranteed Surrender Value Factors.
Please refer Policy Document for details on Special Surrender Value Factors.
The Company may revise the SSV factors from time to time. However, any change in the
methodology/formula for calculating SSV factors shall be subject to IRDAI approval.
o Revival
If a premium is in default beyond the Grace Period and subject to the Policy not having been
surrendered, it may be revived, within ve years after the due date of rst unpaid premium and before
the date of maturity, subject to: (i) Policyholder’s written application for revival; (ii) production of
Insured’s current health certicate and other evidence of insurability, satisfactory to the Company; and
(iii) payment of all overdue premiums with interest.
Upon revival, the benets of the Policy shall be restored with effect from the date of revival.
The evidences and any medical requirements called for are in line with the prevailing underwriting
guidelines duly approved by the Board & the health declaration by the life assured. Any evidence of
insurability requested at the time of revival will be based on the prevailing underwriting guidelines duly
approved by the Board. The revival will be based on the Board approved underwriting policy. The
applicable interest rate for revival is determined using the SBI [or any other public sector undertaking
bank] domestic term deposit rate for ‘1 year to less than 2 years’, plus 2%. Any alteration in the
formula will be subject to prior approval of IRDAI.
The interest rate on revival is veried & updated on our company's systems every six months (on 1st
April & 1st Oct every year) as per the given formula. The current interest rate on revival from 1st
October 2021 is 7.00% simple p.a. (i.e. SBI interest rate of 5.00% + 2%).
Terms and Conditions
1. Free Look Period
If You are not satised with the terms & conditions/ features of the Policy, You have the right to
cancel the Policy by providing written notice to the Company and receive a refund of all premiums
paid without interest after deducting a) Proportionate risk premium for the period on cover
(including applicable taxes, cesses, and levies, if any) and b) Stamp duty charges and medical
examination costs which have been incurred for issuing the Policy. Such notice must be signed by
You and received directly by the Company within 15 days after You receive the policy document.
The said period of 15 days shall stand extended to 30 days if the Policy is sourced through
Distance Marketing mode.
Distance Marketing includes every activity of solicitation (including lead generation) and sale of
insurance products through voice mode, SMS electronic mode, physical mode (like postal mail) or
any other means of communication other than in person.
2. Change in Basic Sum Assured
Any change in the Basic Sum Assured is not allowed post inception of the policy.
3. Policy Loan
Provided that the policy acquires Surrender Value, policyholders may apply for a policy loan for such
an amount within the extent of 80% of Surrender Value. The Policy must be assigned to Tata AIA Life.
Loan Interest
Daily interest shall accrue on policy loan at a rate which the company shall determine. Interest shall
be payable on each policy anniversary after the loan date and until the loan is repaid. Any unpaid
interest shall be added to the principal loan and bear interest at the same rate. At any time while the
policy is in force, policyholder may repay the principal and accrued interest, on any part of the loan.
When the loan with accrued interest exceeds the Surrender Value, the policy will be terminated.
Residual amount, if any, will be refunded to the policyholder.
Interest rate applicable to policy loan will be equal to the prevailing SBI (State Bank of India) [or any
other public sector undertaking bank] domestic term deposit interest rate for tenure ‘1 year to less
than 2 years’ + 2%. This formula will be reviewed annually and only altered subject to prior approval
of IRDA of India. The interest rate on loans are veried & updated on our company's systems every six
months (on 1st April & 1st Oct every year) as per the given formula. The current interest rate for Loan
from 1st April October is 7.00% p.a. (i.e. SBI interest rate of 5.00% + 2%) compounding annually.
4. Auto Vesting
Where the policy is issued on the life of a minor, the policy shall automatically vest in the life insured
on his/her attaining age of majority. On vesting, the Company shall recognize the life insured to be the
holder of the policy.
5. Exclusion
• Suicide Claim: In case of death due to suicide within 12 months from the date of commencement
of risk under the policy or from the date of revival of the policy, as applicable, the nominee or
beneciary of the policyholder shall be entitled to at least 80% of the total premiums paid till the
date of death or the surrender value available as on the date of death whichever is higher,
provided the policy is in force.
• Waiting Period: Waiting period is applicable for policies sourced through PoS channel. If death of
any of the life insureds occurs during the rst 90 days from the Date of commencement of risk,
we shall refund Total Premiums Paid and the policy will terminate with immediate effect. Waiting
period of 90 days is not applicable for death due to accident provided all due premiums have
been paid. Death benet and other benets as stipulated in section 7 will continue to be payable
as normal in case.
6. Tax Benets
Income Tax benets may be available as per the Tax Laws, subject to fulllment of conditions
stipulated therein.Income Tax laws are subject to change from time to time. Tata AIA Life Insurance
Company Ltd. does not assume responsibility on tax implication mentioned anywhere in this
document. Please consult your own tax consultant to know the tax benets available to you.
7. Assignment
Assignment is allowed as per provisions of Section 38 of the Insurance Act 1938 as amended from
time to time.
8. Nomination
Nomination is allowed as per provisions of Section 39 of the Insurance Act 1938 as amended from
time to time.
9. Fraud, Misstatement or Suppression
Any fraud, misstatement or suppression of a material fact under the policy shall be dealt as per the
provisions of Section 45 of the Insurance Act 1938 as amended from time to time.
10. Advance Premium
Collection of advance premium shall be allowed, only if the premium is collected within the same
Financial Year. However, where the premium due in one nancial year is being collected in advance in
earlier nancial year, the Company may collect the same for a maximum period of three months in
advance of the due date of the premium. The premium so collected in advance shall only be adjusted
on the due date of the premium.
11. This product is also available for sales through Company’s website www.tataaia.com
Prohibition of Rebates - Section 41 - of the Insurance Act, 1938, as amended from time to time
1. No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person
to take out or renew or continue an insurance in respect of any kind of risk relating to lives or
property in India, any rebate of the whole or part of the commission payable or any rebate of the
premium shown on the Policy, nor shall any person taking out or renewing or continuing a Policy
accept any rebate, except such rebate as may be allowed in accordance with the published
prospectuses or tables of the Insurer.
2. Any person making default in complying with the provisions of this section shall be liable for
a penalty which may extend to ten lakh rupees.
Annexure A
5 6
**All reference to age is as on last birthday.
*Premium excludes applicable taxes, duties, surcharge, cess or levies.
Sample Illustration
Premium Payment Term 5 6 7 8 9 10 12
Guaranteed Annul
Income (As a % of one 130.00% 140.00% 158.50% 168.10% 178.15% 195.25% 213.25%
Annualised Premium)
Death Benet Multiple
Premium Payment Term Single Life
Joint Life
First Death Second Death
Single Premium 1.25 Times 1.25 Times 10 Times
5 to 12 years 11 Times 7 Times 11 Times
Tata AIA Life Guaranteed Return Insurance Plan
We, at Tata AIA Life, believe in protecting your dreams at various stages of life without compromising
on your basic needs through nancial resources. You do not have to think twice to live your dreams
as they now come with guaranteed payouts.
We present to you, Tata AIA Life Guaranteed Return Insurance Plan to meets tomorrow's requirements
along with protecting your loved ones and dreams as it ensures you of guaranteed returns.
This plan helps you fulll your medium to long term goals such as Child’s Education/ Marriage or
Retirement planning etc.
Key Features
• Flexibility to choose Plan Option: Endowment, Regular Income or Whole Life Income
• Receive Guaranteed benets on Maturity or Death
• Guaranteed Additions that boost corpus year on year under Endowment Option
• Flexibility to cover your spouse in same policy under Whole Life Income Option
• Choice of Policy Term with limited Premium Payment Term
• Enhance your protection with optional Riders
Eligibility Criteria
**All reference to age is as on last birthday. Under whole life income option both the Life Assureds are of age 50 years.
* Premium is exclusive of applicable taxes, cesses & levies.
#
Assuming policy ends after Second Death at age 100.
Key benefits in details
Maturity Benets: On survival of the Life Assured till the end of Policy Term provided the policy is in
force, following benet shall be payable basis chosen plan option:
o Option I - Endowment: On maturity of the policy a lump sum benet equal to Guaranteed Maturity
Benet (GMB) along with the accrued Guaranteed Additions (GA) shall be payable at Maturity.
Guaranteed Maturity Benet (GMB) = GMB Factor * Total Premiums Payable
Guaranteed Addition dened as a percentage of GMB shall accrued at a simple rate for each
completed policy year, throughout the Policy Term and shall be payable on Maturity or Death
whichever is earlier, subject to all due premiums being paid. GA shall accrue @ 5% of GMB. No
GA shall accrue once the policy has been converted to a Reduced Paid-up policy.
Please refer company website www.tataaia.com for details on GMB Factors
o Option II - Regular Income: A Guaranteed Annual Income (GAI) dened as a percentage of one
Annualised Premiums shall commence from the end of the year following maturity for a dened
Income Period, provided the policy is in force.
o For Policy Term 6, the GAI shall commence from the end of the 7th year to the end of the 11th
year.
o For Policy Term 7, the GAI shall commence from the end of the 8th year to the end of the 13th
year.
o For Policy Term 8, the GAI shall commence from the end of the 9th year to the end of the 15th
year.
o For Policy Term 9, the GAI shall commence from the end of the 10th year to the end of the
17tht year.
o For Policy Term 10, the GAI shall commence from the end of the 11th year to the end of the
19th year.
o For Policy Term 11, the GAI shall commence from the end of the 12th year to the end of the
21st year.
o For Policy Term 13, the GAI shall commence from the end of the 14th year to the end of the
25th year.
Where, Guaranteed Annual Income percentage factor shall be as per below table:
The policyholder has the option to receive the commuted value of the future Guaranteed Annual
Income, in the form of a lump sum benet at maturity, discounted at 7.45% p.a. for premium
paying term 5 to 10 years and 7.20% p.a. for premium paying term 12 years. This discounting
rate is not guaranteed and is subject to change based on prevailing bond yields (aligned to 10
year G-sec). However, any change in the methodology/formula shall be subject to IRDAI approval.
o Option III - Whole Life Income: : A Guaranteed Annual Income (GAI) dened as a percentage of
Total Premiums Paid shall commence from the end of the year following maturity and shall be
payable until the death of the Insured in case of single life or until the second death in case of joint
life. Where, Guaranteed Annual Income percentage factor shall be as follows:
GAI = Rate A * (Total Premiums Payable up to Rs.125,000) + Rate B * (Total Premiums Payable
in excess of Rs. 125,000) for single life.
GAI = Rate A * (Total Premiums Payable up to Rs.150,000) + Rate B * (Total Premiums Payable
in excess of Rs. 150,000) for joint life.
For Single Life policies, the rates offered to a female life will be equal to a male life with a three year
setback. All Joint Life rates are unisex.
The policyholder shall also be given the option to receive the GAI on a monthly basis wherein the
following conversion factor shall be used to arrive at the income payable. The income shall
commence from the end of the month following maturity. This option has to be chosen at
inception and cannot be altered once chosen.
After the policy term, the policyholder or the nominee(s)/legal heir(s) shall have the option to
receive a commuted value depending on the age at the time of commutation. Details of
computation of commuted value is provided in Annexure B.
Commuted Value = (F1 * Guaranteed Annual Income + F2 * Total Premiums Paid).
The factors F1 & F2 depend on the age of the surviving life assured at the time of commutation.
For joint life cases when both lives assured are alive, the age of the older of the two life assureds
is to be considered.
term 12 years under Option II. For Option III Guaranteed Maturity Benet shall be equal to the
Guaranteed Annual Income multiplied by the GMB factors provided on company website
www.tataaia.com.
“Total Premiums Payable" refers to an amount equal to the Annualised Premium multiplied by the
Premium Payment Term of the policy.
Additional Benefits and Features
Flexible premium payment modes:
You have an option to pay the premiums either Annually, Half-yearly, Quarterly and Monthly modes.
Loading on premiums will be applicable as mentioned in the table below:
Optional Riders:
You have the exibility to enhance your cover by adding the following optional riders, by paying
additional rider premium over and above your base policy premium.
1. Tata AIA Life Insurance Accidental Death and Dismemberment (Long Scale) (ADDL)
Rider (UIN: 110B028V03)
This rider ensures protection of your family by paying your nominee an amount equal to the rider sum
assured in case of an accidental death. In case of severe dismemberment like loss of limbs or bodily
functions or severe burns due to an accident, it will pay a percentage of the rider sum assured as per
the ADDL benet chart. The benets will be doubled in case of certain accidental death or
dismemberments. This rider can be attached only at Policy inception.
2. Tata AIA Life Insurance Waiver of Premium Plus (WOPP) Rider (UIN: 110B029V02)
This rider provides for the waiver of all future premiums of the basic policy which fall due in case of
death or while the proposer is totally and permanently disabled (provided that the death occurs
/disability commences before the proposer reaches 70 years or the end of premium payment term of
the basic plan, whichever is earlier). This rider can be attached only at Policy inception.
3. Tata AIA Life Insurance Non-Linked Comprehensive Protection Rider (UIN:110B033V02
or any other later version)
This rider provides coverage for various unforeseen events, such as death, disability due to accident,
a wide range of critical illnesses, or terminal illness. It allows exibility to receive bene¬t as
combination of lump sum or income for xed period, Income till survival of partner or Waiver of
Premium. This rider can be opted either while taking the policy, or at the time of any policy anniversary.
4. Tata AIA Life Insurance Non-Linked Comprehensive Health Rider (UIN: 110B031V02 or
any other later version)
The rider covers various unforeseen events and illnesses, including disability, hospitalization, and
critical illnesses such as cancer and cardiac arrests. It also provides coverage against both major
illnesses, and minor injuries or illnesses, while allowing multiple claim payouts. Rider can be opted
either while taking the policy, or at the time of any policy anniversary.
The above riders will not be offered if the outstanding term under the base policy is less than 5 years.
There is no overlap in benet offered under different riders and rider benets shall be payable
separately in addition to base plan benets. In case the product is purchased under PoS, then no
rider can be attached.
Death Benet:
In case of death of the Life Assured during the Policy Term, provided the policy is in force, the Sum
Assured on Death as dened below shall be payable.
Under Option I: Additionally, accrued Guaranteed Addition as on the date of Death shall be payable
along with Sum Assured on Death.
Under Option II: In case of death of the life insured after maturity; All the future income payments shall
be payable to the nominee/legal heir(s) of the life insured. The nominee/legal heir(s) also has the
option to receive the commuted value of the future income at the time of death of life insured,
discounted at 7.45% p.a. for premium paying term 5 to 10 years and 7.20% p.a. for premium paying
term 12 years.
Under Option III:
Death during policy term: In case of death of the life insured during the policy term; Death Benets
Multiple for Basic Sum Assured will be as follows:
Death after policy term: In case of death of the life insured after the policy term;
• For single life policies, the Total Premiums Paid shall be payable
• For joint life policies, the Total Premiums Paid shall be payable on the second death only. No
death benet is payable on the rst death.
For single life policies, the policy will terminate upon the death of the insured and no other benet
under the policy shall be payable.
For joint life policies, the policy will continue after First Death, and the policy will terminate upon the
Second Death and no other benet under the policy shall be payable
Kindly refer Annexure A for Death Benet Multiple under all Plan Options I & II.
Where,
“Annualised Premium” shall be the premium paid in a year, excluding the taxes, rider premiums
underwriting extra premiums and loading for modal premiums, if any.
“Basic Sum Assured” is equal to the Death Benet Multiple times the Single/Annualised Premium.
“Total Premiums Paid" means total of all premiums received, excluding any extra premiums, any
rider premiums and taxes.
‘Guaranteed Maturity Benet’ shall be equal to the commuted value of all the GAI at maturity,
discounted at 7.45% p.a. for premium paying term 5 to 10 years and 7.20% p.a. for premium paying
7 8
Riders are not mandatory and are available for a nominal extra cost. For more details on the benets,
premiums and exclusions under the riders please refer to the Rider Brochure or contact our Insurance
Advisor / Intermediary or visit our nearest branch ofce.
Grace Period:
A Grace Period of fteen (15) days for monthly mode and thirty (30) days for all other modes, from the
due date will be allowed for payment of each subsequent premium. The Policy will remain in force
during this period. If the full premium for the rst 2 policy years remains unpaid at the end of their
grace period the policies shall lapse from the due date of the rst unpaid premium. If any death claim
occurs during the grace period, any due premium (without interest) of the policy for the policy year, in
which the event has occurred will be deducted from the death claim pay out.
Non forfeiture provisions:
o Lapse
When the full premiums for at least two (2) years have not paid within the Grace Period, the policy
shall lapse from the due date of rst unpaid premium and no benets will be payable.
However, if full premiums for at least two (2) years have been paid and the subsequent premium
remains unpaid within the Grace Period, the Policy will be converted into a Reduced Paid-up
Policy by default.
o Reduced Paid-Up Benet
The benets to be paid in case of reduced paid-up policies are as follows.
Death Benet:
Option 1 – Endowment:
On death during the policy term, the Sum Assured on Death x RPU Factor shall be payable along with
accrued GA. The benet shall be subject to a minimum of 105% of the Total Premiums Paid up to the
date of death. The policy will terminate upon the death of the insured and no other benet under the
policy shall be payable.
Option 2 – Regular Income:
On death during the policy term, the Sum Assured on Death x RPU Factor shall be payable. The benet
shall be subject to a minimum of 105% of the Total Premiums Paid up to the date of death. The policy
will terminate upon the death of the insured and no other benet under the policy shall be payable.
In case of death during the Income Term, all the future income payments shall be payable to the
nominee/legal heir(s) of the life insured. The nominee/leg al heir(s) also has the option to receive
the commuted value of the future income at the time of death of life insured, discounted at 7.45%
p.a. for premium paying term 5 to 10 years and 7.20% p.a. for premium paying term 12 years. This
discounting rate is not guaranteed and is subject to change based on prevailing bond yields
(aligned to 10 year G-sec). However, any change in the methodology/formula shall be subject to
IRDAI approval.
Option 3 – Whole Life Income:
Single Life: On death during the policy term, the Sum Assured on Death x RPU Factor shall be payable.
The benet shall be subject to a minimum of 105% of the Total Premiums Paid up to the date of death.
The policy will terminate upon the death of the insured and no other benet under the policy shall be
payable. In case of death of the life insured after the policy term the Total Premiums Paid shall be payable.
Joint Life: On death during the policy term, the Sum Assured on Death x RPU Factor shall be
payable. The benet shall be subject to a minimum of 105% of the Total Premiums Paid up to the date
of death. The policy will terminate upon the second death and no other benet under the policy shall
be payable. In case of second death of the life insured after the policy term the Total Premiums Paid
shall be payable.No death benet is payable on the rst death.
Maturity Benet: The maturity benets detailed above shall continue to be payable multiplied by the
RPU Factor.
Mode Modal Loading
Single Premium Multiply Single Premium by 1
Annual Multiply Annual Premium by 1
Half - Yearly Multiply Annual Premium by 0.51
Quarterly Multiply Annual Premium by 0.26
Monthly Multiply Annual Premium by 0.0883
o Surrender Benet
The policy shall acquire a surrender value during the policy term basis the premium paying term as
dened below.
The surrender value payable is higher of the Guaranteed Surrender Value (GSV) or Special Surrender
Value (SSV) where;
• Guaranteed Surrender Value = GSV Factor on Premiums x Total Premiums Paid + GSV Factor on
Guaranteed Additions x Accrued GA, if any)
• Special Surrender Value = SSV Factor * (RPU factor x Guaranteed Maturity Benet + Accrued GA,
if any)
Where “Reduced Paid-up (RPU) Factor” shall be equal to the total number of premiums paid divided
by the total number of Premiums Payable during the entire Premium Payment Term.
Please refer company website www.tataaia.com for details on Guaranteed Surrender Value Factors.
Please refer Policy Document for details on Special Surrender Value Factors.
The Company may revise the SSV factors from time to time. However, any change in the
methodology/formula for calculating SSV factors shall be subject to IRDAI approval.
o Revival
If a premium is in default beyond the Grace Period and subject to the Policy not having been
surrendered, it may be revived, within ve years after the due date of rst unpaid premium and before
the date of maturity, subject to: (i) Policyholder’s written application for revival; (ii) production of
Insured’s current health certicate and other evidence of insurability, satisfactory to the Company; and
(iii) payment of all overdue premiums with interest.
Upon revival, the benets of the Policy shall be restored with effect from the date of revival.
The evidences and any medical requirements called for are in line with the prevailing underwriting
guidelines duly approved by the Board & the health declaration by the life assured. Any evidence of
insurability requested at the time of revival will be based on the prevailing underwriting guidelines duly
approved by the Board. The revival will be based on the Board approved underwriting policy. The
applicable interest rate for revival is determined using the SBI [or any other public sector undertaking
bank] domestic term deposit rate for ‘1 year to less than 2 years’, plus 2%. Any alteration in the
formula will be subject to prior approval of IRDAI.
The interest rate on revival is veried & updated on our company's systems every six months (on 1st
April & 1st Oct every year) as per the given formula. The current interest rate on revival from 1st
October 2021 is 7.00% simple p.a. (i.e. SBI interest rate of 5.00% + 2%).
Terms and Conditions
1. Free Look Period
If You are not satised with the terms & conditions/ features of the Policy, You have the right to
cancel the Policy by providing written notice to the Company and receive a refund of all premiums
paid without interest after deducting a) Proportionate risk premium for the period on cover
(including applicable taxes, cesses, and levies, if any) and b) Stamp duty charges and medical
examination costs which have been incurred for issuing the Policy. Such notice must be signed by
You and received directly by the Company within 15 days after You receive the policy document.
The said period of 15 days shall stand extended to 30 days if the Policy is sourced through
Distance Marketing mode.
Distance Marketing includes every activity of solicitation (including lead generation) and sale of
insurance products through voice mode, SMS electronic mode, physical mode (like postal mail) or
any other means of communication other than in person.
2. Change in Basic Sum Assured
Any change in the Basic Sum Assured is not allowed post inception of the policy.
3. Policy Loan
Provided that the policy acquires Surrender Value, policyholders may apply for a policy loan for such
an amount within the extent of 80% of Surrender Value. The Policy must be assigned to Tata AIA Life.
Loan Interest
Daily interest shall accrue on policy loan at a rate which the company shall determine. Interest shall
be payable on each policy anniversary after the loan date and until the loan is repaid. Any unpaid
interest shall be added to the principal loan and bear interest at the same rate. At any time while the
policy is in force, policyholder may repay the principal and accrued interest, on any part of the loan.
When the loan with accrued interest exceeds the Surrender Value, the policy will be terminated.
Residual amount, if any, will be refunded to the policyholder.
Interest rate applicable to policy loan will be equal to the prevailing SBI (State Bank of India) [or any
other public sector undertaking bank] domestic term deposit interest rate for tenure ‘1 year to less
than 2 years’ + 2%. This formula will be reviewed annually and only altered subject to prior approval
of IRDA of India. The interest rate on loans are veried & updated on our company's systems every six
months (on 1st April & 1st Oct every year) as per the given formula. The current interest rate for Loan
from 1st April October is 7.00% p.a. (i.e. SBI interest rate of 5.00% + 2%) compounding annually.
4. Auto Vesting
Where the policy is issued on the life of a minor, the policy shall automatically vest in the life insured
on his/her attaining age of majority. On vesting, the Company shall recognize the life insured to be the
holder of the policy.
5. Exclusion
• Suicide Claim: In case of death due to suicide within 12 months from the date of commencement
of risk under the policy or from the date of revival of the policy, as applicable, the nominee or
beneciary of the policyholder shall be entitled to at least 80% of the total premiums paid till the
date of death or the surrender value available as on the date of death whichever is higher,
provided the policy is in force.
• Waiting Period: Waiting period is applicable for policies sourced through PoS channel. If death of
any of the life insureds occurs during the rst 90 days from the Date of commencement of risk,
we shall refund Total Premiums Paid and the policy will terminate with immediate effect. Waiting
period of 90 days is not applicable for death due to accident provided all due premiums have
been paid. Death benet and other benets as stipulated in section 7 will continue to be payable
as normal in case.
6. Tax Benets
Income Tax benets may be available as per the Tax Laws, subject to fulllment of conditions
stipulated therein.Income Tax laws are subject to change from time to time. Tata AIA Life Insurance
Company Ltd. does not assume responsibility on tax implication mentioned anywhere in this
document. Please consult your own tax consultant to know the tax benets available to you.
7. Assignment
Assignment is allowed as per provisions of Section 38 of the Insurance Act 1938 as amended from
time to time.
8. Nomination
Nomination is allowed as per provisions of Section 39 of the Insurance Act 1938 as amended from
time to time.
9. Fraud, Misstatement or Suppression
Any fraud, misstatement or suppression of a material fact under the policy shall be dealt as per the
provisions of Section 45 of the Insurance Act 1938 as amended from time to time.
10. Advance Premium
Collection of advance premium shall be allowed, only if the premium is collected within the same
Financial Year. However, where the premium due in one nancial year is being collected in advance in
earlier nancial year, the Company may collect the same for a maximum period of three months in
advance of the due date of the premium. The premium so collected in advance shall only be adjusted
on the due date of the premium.
11. This product is also available for sales through Company’s website www.tataaia.com
Prohibition of Rebates - Section 41 - of the Insurance Act, 1938, as amended from time to time
1. No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person
to take out or renew or continue an insurance in respect of any kind of risk relating to lives or
property in India, any rebate of the whole or part of the commission payable or any rebate of the
premium shown on the Policy, nor shall any person taking out or renewing or continuing a Policy
accept any rebate, except such rebate as may be allowed in accordance with the published
prospectuses or tables of the Insurer.
2. Any person making default in complying with the provisions of this section shall be liable for
a penalty which may extend to ten lakh rupees.
Annexure A
**All reference to age is as on last birthday.
*Premium excludes applicable taxes, duties, surcharge, cess or levies.
Sample Illustration
Tata AIA Life Guaranteed Return Insurance Plan
We, at Tata AIA Life, believe in protecting your dreams at various stages of life without compromising
on your basic needs through nancial resources. You do not have to think twice to live your dreams
as they now come with guaranteed payouts.
We present to you, Tata AIA Life Guaranteed Return Insurance Plan to meets tomorrow's requirements
along with protecting your loved ones and dreams as it ensures you of guaranteed returns.
This plan helps you fulll your medium to long term goals such as Child’s Education/ Marriage or
Retirement planning etc.
Key Features
• Flexibility to choose Plan Option: Endowment, Regular Income or Whole Life Income
• Receive Guaranteed benets on Maturity or Death
• Guaranteed Additions that boost corpus year on year under Endowment Option
• Flexibility to cover your spouse in same policy under Whole Life Income Option
• Choice of Policy Term with limited Premium Payment Term
• Enhance your protection with optional Riders
Eligibility Criteria
**All reference to age is as on last birthday. Under whole life income option both the Life Assureds are of age 50 years.
* Premium is exclusive of applicable taxes, cesses & levies.
#
Assuming policy ends after Second Death at age 100.
Key benefits in details
Maturity Benets: On survival of the Life Assured till the end of Policy Term provided the policy is in
force, following benet shall be payable basis chosen plan option:
o Option I - Endowment: On maturity of the policy a lump sum benet equal to Guaranteed Maturity
Benet (GMB) along with the accrued Guaranteed Additions (GA) shall be payable at Maturity.
Guaranteed Maturity Benet (GMB) = GMB Factor * Total Premiums Payable
Guaranteed Addition dened as a percentage of GMB shall accrued at a simple rate for each
completed policy year, throughout the Policy Term and shall be payable on Maturity or Death
whichever is earlier, subject to all due premiums being paid. GA shall accrue @ 5% of GMB. No
GA shall accrue once the policy has been converted to a Reduced Paid-up policy.
Please refer company website www.tataaia.com for details on GMB Factors
o Option II - Regular Income: A Guaranteed Annual Income (GAI) dened as a percentage of one
Annualised Premiums shall commence from the end of the year following maturity for a dened
Income Period, provided the policy is in force.
o For Policy Term 6, the GAI shall commence from the end of the 7th year to the end of the 11th
year.
o For Policy Term 7, the GAI shall commence from the end of the 8th year to the end of the 13th
year.
o For Policy Term 8, the GAI shall commence from the end of the 9th year to the end of the 15th
year.
o For Policy Term 9, the GAI shall commence from the end of the 10th year to the end of the
17tht year.
o For Policy Term 10, the GAI shall commence from the end of the 11th year to the end of the
19th year.
o For Policy Term 11, the GAI shall commence from the end of the 12th year to the end of the
21st year.
o For Policy Term 13, the GAI shall commence from the end of the 14th year to the end of the
25th year.
Where, Guaranteed Annual Income percentage factor shall be as per below table:
The policyholder has the option to receive the commuted value of the future Guaranteed Annual
Income, in the form of a lump sum benet at maturity, discounted at 7.45% p.a. for premium
paying term 5 to 10 years and 7.20% p.a. for premium paying term 12 years. This discounting
rate is not guaranteed and is subject to change based on prevailing bond yields (aligned to 10
year G-sec). However, any change in the methodology/formula shall be subject to IRDAI approval.
o Option III - Whole Life Income: : A Guaranteed Annual Income (GAI) dened as a percentage of
Total Premiums Paid shall commence from the end of the year following maturity and shall be
payable until the death of the Insured in case of single life or until the second death in case of joint
life. Where, Guaranteed Annual Income percentage factor shall be as follows:
GAI = Rate A * (Total Premiums Payable up to Rs.125,000) + Rate B * (Total Premiums Payable
in excess of Rs. 125,000) for single life.
GAI = Rate A * (Total Premiums Payable up to Rs.150,000) + Rate B * (Total Premiums Payable
in excess of Rs. 150,000) for joint life.
For Single Life policies, the rates offered to a female life will be equal to a male life with a three year
setback. All Joint Life rates are unisex.
The policyholder shall also be given the option to receive the GAI on a monthly basis wherein the
following conversion factor shall be used to arrive at the income payable. The income shall
commence from the end of the month following maturity. This option has to be chosen at
inception and cannot be altered once chosen.
After the policy term, the policyholder or the nominee(s)/legal heir(s) shall have the option to
receive a commuted value depending on the age at the time of commutation. Details of
computation of commuted value is provided in Annexure B.
Commuted Value = (F1 * Guaranteed Annual Income + F2 * Total Premiums Paid).
The factors F1 & F2 depend on the age of the surviving life assured at the time of commutation.
For joint life cases when both lives assured are alive, the age of the older of the two life assureds
is to be considered.
term 12 years under Option II. For Option III Guaranteed Maturity Benet shall be equal to the
Guaranteed Annual Income multiplied by the GMB factors provided on company website
www.tataaia.com.
“Total Premiums Payable" refers to an amount equal to the Annualised Premium multiplied by the
Premium Payment Term of the policy.
Additional Benefits and Features
Flexible premium payment modes:
You have an option to pay the premiums either Annually, Half-yearly, Quarterly and Monthly modes.
Loading on premiums will be applicable as mentioned in the table below:
Optional Riders:
You have the exibility to enhance your cover by adding the following optional riders, by paying
additional rider premium over and above your base policy premium.
1. Tata AIA Life Insurance Accidental Death and Dismemberment (Long Scale) (ADDL)
Rider (UIN: 110B028V03)
This rider ensures protection of your family by paying your nominee an amount equal to the rider sum
assured in case of an accidental death. In case of severe dismemberment like loss of limbs or bodily
functions or severe burns due to an accident, it will pay a percentage of the rider sum assured as per
the ADDL benet chart. The benets will be doubled in case of certain accidental death or
dismemberments. This rider can be attached only at Policy inception.
2. Tata AIA Life Insurance Waiver of Premium Plus (WOPP) Rider (UIN: 110B029V02)
This rider provides for the waiver of all future premiums of the basic policy which fall due in case of
death or while the proposer is totally and permanently disabled (provided that the death occurs
/disability commences before the proposer reaches 70 years or the end of premium payment term of
the basic plan, whichever is earlier). This rider can be attached only at Policy inception.
3. Tata AIA Life Insurance Non-Linked Comprehensive Protection Rider (UIN:110B033V02
or any other later version)
This rider provides coverage for various unforeseen events, such as death, disability due to accident,
a wide range of critical illnesses, or terminal illness. It allows exibility to receive bene¬t as
combination of lump sum or income for xed period, Income till survival of partner or Waiver of
Premium. This rider can be opted either while taking the policy, or at the time of any policy anniversary.
4. Tata AIA Life Insurance Non-Linked Comprehensive Health Rider (UIN: 110B031V02 or
any other later version)
The rider covers various unforeseen events and illnesses, including disability, hospitalization, and
critical illnesses such as cancer and cardiac arrests. It also provides coverage against both major
illnesses, and minor injuries or illnesses, while allowing multiple claim payouts. Rider can be opted
either while taking the policy, or at the time of any policy anniversary.
The above riders will not be offered if the outstanding term under the base policy is less than 5 years.
There is no overlap in benet offered under different riders and rider benets shall be payable
separately in addition to base plan benets. In case the product is purchased under PoS, then no
rider can be attached.
Death Benet:
In case of death of the Life Assured during the Policy Term, provided the policy is in force, the Sum
Assured on Death as dened below shall be payable.
Under Option I: Additionally, accrued Guaranteed Addition as on the date of Death shall be payable
along with Sum Assured on Death.
Under Option II: In case of death of the life insured after maturity; All the future income payments shall
be payable to the nominee/legal heir(s) of the life insured. The nominee/legal heir(s) also has the
option to receive the commuted value of the future income at the time of death of life insured,
discounted at 7.45% p.a. for premium paying term 5 to 10 years and 7.20% p.a. for premium paying
term 12 years.
Under Option III:
Death during policy term: In case of death of the life insured during the policy term; Death Benets
Multiple for Basic Sum Assured will be as follows:
Death after policy term: In case of death of the life insured after the policy term;
• For single life policies, the Total Premiums Paid shall be payable
• For joint life policies, the Total Premiums Paid shall be payable on the second death only. No
death benet is payable on the rst death.
For single life policies, the policy will terminate upon the death of the insured and no other benet
under the policy shall be payable.
For joint life policies, the policy will continue after First Death, and the policy will terminate upon the
Second Death and no other benet under the policy shall be payable
Kindly refer Annexure A for Death Benet Multiple under all Plan Options I & II.
Where,
“Annualised Premium” shall be the premium paid in a year, excluding the taxes, rider premiums
underwriting extra premiums and loading for modal premiums, if any.
“Basic Sum Assured” is equal to the Death Benet Multiple times the Single/Annualised Premium.
“Total Premiums Paid" means total of all premiums received, excluding any extra premiums, any
rider premiums and taxes.
‘Guaranteed Maturity Benet’ shall be equal to the commuted value of all the GAI at maturity,
discounted at 7.45% p.a. for premium paying term 5 to 10 years and 7.20% p.a. for premium paying
9 10
Riders are not mandatory and are available for a nominal extra cost. For more details on the benets,
premiums and exclusions under the riders please refer to the Rider Brochure or contact our Insurance
Advisor / Intermediary or visit our nearest branch ofce.
Grace Period:
A Grace Period of fteen (15) days for monthly mode and thirty (30) days for all other modes, from the
due date will be allowed for payment of each subsequent premium. The Policy will remain in force
during this period. If the full premium for the rst 2 policy years remains unpaid at the end of their
grace period the policies shall lapse from the due date of the rst unpaid premium. If any death claim
occurs during the grace period, any due premium (without interest) of the policy for the policy year, in
which the event has occurred will be deducted from the death claim pay out.
Non forfeiture provisions:
o Lapse
When the full premiums for at least two (2) years have not paid within the Grace Period, the policy
shall lapse from the due date of rst unpaid premium and no benets will be payable.
However, if full premiums for at least two (2) years have been paid and the subsequent premium
remains unpaid within the Grace Period, the Policy will be converted into a Reduced Paid-up
Policy by default.
o Reduced Paid-Up Benet
The benets to be paid in case of reduced paid-up policies are as follows.
Death Benet:
Option 1 – Endowment:
On death during the policy term, the Sum Assured on Death x RPU Factor shall be payable along with
accrued GA. The benet shall be subject to a minimum of 105% of the Total Premiums Paid up to the
date of death. The policy will terminate upon the death of the insured and no other benet under the
policy shall be payable.
Option 2 – Regular Income:
On death during the policy term, the Sum Assured on Death x RPU Factor shall be payable. The benet
shall be subject to a minimum of 105% of the Total Premiums Paid up to the date of death. The policy
will terminate upon the death of the insured and no other benet under the policy shall be payable.
In case of death during the Income Term, all the future income payments shall be payable to the
nominee/legal heir(s) of the life insured. The nominee/leg al heir(s) also has the option to receive
the commuted value of the future income at the time of death of life insured, discounted at 7.45%
p.a. for premium paying term 5 to 10 years and 7.20% p.a. for premium paying term 12 years. This
discounting rate is not guaranteed and is subject to change based on prevailing bond yields
(aligned to 10 year G-sec). However, any change in the methodology/formula shall be subject to
IRDAI approval.
Option 3 – Whole Life Income:
Single Life: On death during the policy term, the Sum Assured on Death x RPU Factor shall be payable.
The benet shall be subject to a minimum of 105% of the Total Premiums Paid up to the date of death.
The policy will terminate upon the death of the insured and no other benet under the policy shall be
payable. In case of death of the life insured after the policy term the Total Premiums Paid shall be payable.
Joint Life: On death during the policy term, the Sum Assured on Death x RPU Factor shall be
payable. The benet shall be subject to a minimum of 105% of the Total Premiums Paid up to the date
of death. The policy will terminate upon the second death and no other benet under the policy shall
be payable. In case of second death of the life insured after the policy term the Total Premiums Paid
shall be payable.No death benet is payable on the rst death.
Maturity Benet: The maturity benets detailed above shall continue to be payable multiplied by the
RPU Factor.
Premium Paying Term Surrender Value
Single Pay Payable at any point during the policy term
Other than Single Pay Payable provided at least 2 full years’ premiums have been paid
o Surrender Benet
The policy shall acquire a surrender value during the policy term basis the premium paying term as
dened below.
The surrender value payable is higher of the Guaranteed Surrender Value (GSV) or Special Surrender
Value (SSV) where;
• Guaranteed Surrender Value = GSV Factor on Premiums x Total Premiums Paid + GSV Factor on
Guaranteed Additions x Accrued GA, if any)
• Special Surrender Value = SSV Factor * (RPU factor x Guaranteed Maturity Benet + Accrued GA,
if any)
Where “Reduced Paid-up (RPU) Factor” shall be equal to the total number of premiums paid divided
by the total number of Premiums Payable during the entire Premium Payment Term.
Please refer company website www.tataaia.com for details on Guaranteed Surrender Value Factors.
Please refer Policy Document for details on Special Surrender Value Factors.
The Company may revise the SSV factors from time to time. However, any change in the
methodology/formula for calculating SSV factors shall be subject to IRDAI approval.
o Revival
If a premium is in default beyond the Grace Period and subject to the Policy not having been
surrendered, it may be revived, within ve years after the due date of rst unpaid premium and before
the date of maturity, subject to: (i) Policyholder’s written application for revival; (ii) production of
Insured’s current health certicate and other evidence of insurability, satisfactory to the Company; and
(iii) payment of all overdue premiums with interest.
Upon revival, the benets of the Policy shall be restored with effect from the date of revival.
The evidences and any medical requirements called for are in line with the prevailing underwriting
guidelines duly approved by the Board & the health declaration by the life assured. Any evidence of
insurability requested at the time of revival will be based on the prevailing underwriting guidelines duly
approved by the Board. The revival will be based on the Board approved underwriting policy. The
applicable interest rate for revival is determined using the SBI [or any other public sector undertaking
bank] domestic term deposit rate for ‘1 year to less than 2 years’, plus 2%. Any alteration in the
formula will be subject to prior approval of IRDAI.
The interest rate on revival is veried & updated on our company's systems every six months (on 1st
April & 1st Oct every year) as per the given formula. The current interest rate on revival from 1st
October 2021 is 7.00% simple p.a. (i.e. SBI interest rate of 5.00% + 2%).
Terms and Conditions
1. Free Look Period
If You are not satised with the terms & conditions/ features of the Policy, You have the right to
cancel the Policy by providing written notice to the Company and receive a refund of all premiums
paid without interest after deducting a) Proportionate risk premium for the period on cover
(including applicable taxes, cesses, and levies, if any) and b) Stamp duty charges and medical
examination costs which have been incurred for issuing the Policy. Such notice must be signed by
You and received directly by the Company within 15 days after You receive the policy document.
The said period of 15 days shall stand extended to 30 days if the Policy is sourced through
Distance Marketing mode.
Distance Marketing includes every activity of solicitation (including lead generation) and sale of
insurance products through voice mode, SMS electronic mode, physical mode (like postal mail) or
any other means of communication other than in person.
2. Change in Basic Sum Assured
Any change in the Basic Sum Assured is not allowed post inception of the policy.
3. Policy Loan
Provided that the policy acquires Surrender Value, policyholders may apply for a policy loan for such
an amount within the extent of 80% of Surrender Value. The Policy must be assigned to Tata AIA Life.
Loan Interest
Daily interest shall accrue on policy loan at a rate which the company shall determine. Interest shall
be payable on each policy anniversary after the loan date and until the loan is repaid. Any unpaid
interest shall be added to the principal loan and bear interest at the same rate. At any time while the
policy is in force, policyholder may repay the principal and accrued interest, on any part of the loan.
When the loan with accrued interest exceeds the Surrender Value, the policy will be terminated.
Residual amount, if any, will be refunded to the policyholder.
Interest rate applicable to policy loan will be equal to the prevailing SBI (State Bank of India) [or any
other public sector undertaking bank] domestic term deposit interest rate for tenure ‘1 year to less
than 2 years’ + 2%. This formula will be reviewed annually and only altered subject to prior approval
of IRDA of India. The interest rate on loans are veried & updated on our company's systems every six
months (on 1st April & 1st Oct every year) as per the given formula. The current interest rate for Loan
from 1st April October is 7.00% p.a. (i.e. SBI interest rate of 5.00% + 2%) compounding annually.
4. Auto Vesting
Where the policy is issued on the life of a minor, the policy shall automatically vest in the life insured
on his/her attaining age of majority. On vesting, the Company shall recognize the life insured to be the
holder of the policy.
5. Exclusion
• Suicide Claim: In case of death due to suicide within 12 months from the date of commencement
of risk under the policy or from the date of revival of the policy, as applicable, the nominee or
beneciary of the policyholder shall be entitled to at least 80% of the total premiums paid till the
date of death or the surrender value available as on the date of death whichever is higher,
provided the policy is in force.
• Waiting Period: Waiting period is applicable for policies sourced through PoS channel. If death of
any of the life insureds occurs during the rst 90 days from the Date of commencement of risk,
we shall refund Total Premiums Paid and the policy will terminate with immediate effect. Waiting
period of 90 days is not applicable for death due to accident provided all due premiums have
been paid. Death benet and other benets as stipulated in section 7 will continue to be payable
as normal in case.
6. Tax Benets
Income Tax benets may be available as per the Tax Laws, subject to fulllment of conditions
stipulated therein.Income Tax laws are subject to change from time to time. Tata AIA Life Insurance
Company Ltd. does not assume responsibility on tax implication mentioned anywhere in this
document. Please consult your own tax consultant to know the tax benets available to you.
7. Assignment
Assignment is allowed as per provisions of Section 38 of the Insurance Act 1938 as amended from
time to time.
8. Nomination
Nomination is allowed as per provisions of Section 39 of the Insurance Act 1938 as amended from
time to time.
9. Fraud, Misstatement or Suppression
Any fraud, misstatement or suppression of a material fact under the policy shall be dealt as per the
provisions of Section 45 of the Insurance Act 1938 as amended from time to time.
10. Advance Premium
Collection of advance premium shall be allowed, only if the premium is collected within the same
Financial Year. However, where the premium due in one nancial year is being collected in advance in
earlier nancial year, the Company may collect the same for a maximum period of three months in
advance of the due date of the premium. The premium so collected in advance shall only be adjusted
on the due date of the premium.
11. This product is also available for sales through Company’s website www.tataaia.com
Prohibition of Rebates - Section 41 - of the Insurance Act, 1938, as amended from time to time
1. No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person
to take out or renew or continue an insurance in respect of any kind of risk relating to lives or
property in India, any rebate of the whole or part of the commission payable or any rebate of the
premium shown on the Policy, nor shall any person taking out or renewing or continuing a Policy
accept any rebate, except such rebate as may be allowed in accordance with the published
prospectuses or tables of the Insurer.
2. Any person making default in complying with the provisions of this section shall be liable for
a penalty which may extend to ten lakh rupees.
Annexure A
**All reference to age is as on last birthday.
*Premium excludes applicable taxes, duties, surcharge, cess or levies.
Sample Illustration
Tata AIA Life Guaranteed Return Insurance Plan
We, at Tata AIA Life, believe in protecting your dreams at various stages of life without compromising
on your basic needs through nancial resources. You do not have to think twice to live your dreams
as they now come with guaranteed payouts.
We present to you, Tata AIA Life Guaranteed Return Insurance Plan to meets tomorrow's requirements
along with protecting your loved ones and dreams as it ensures you of guaranteed returns.
This plan helps you fulll your medium to long term goals such as Child’s Education/ Marriage or
Retirement planning etc.
Key Features
• Flexibility to choose Plan Option: Endowment, Regular Income or Whole Life Income
• Receive Guaranteed benets on Maturity or Death
• Guaranteed Additions that boost corpus year on year under Endowment Option
• Flexibility to cover your spouse in same policy under Whole Life Income Option
• Choice of Policy Term with limited Premium Payment Term
• Enhance your protection with optional Riders
Eligibility Criteria
**All reference to age is as on last birthday. Under whole life income option both the Life Assureds are of age 50 years.
* Premium is exclusive of applicable taxes, cesses & levies.
#
Assuming policy ends after Second Death at age 100.
Key benefits in details
Maturity Benets: On survival of the Life Assured till the end of Policy Term provided the policy is in
force, following benet shall be payable basis chosen plan option:
o Option I - Endowment: On maturity of the policy a lump sum benet equal to Guaranteed Maturity
Benet (GMB) along with the accrued Guaranteed Additions (GA) shall be payable at Maturity.
Guaranteed Maturity Benet (GMB) = GMB Factor * Total Premiums Payable
Guaranteed Addition dened as a percentage of GMB shall accrued at a simple rate for each
completed policy year, throughout the Policy Term and shall be payable on Maturity or Death
whichever is earlier, subject to all due premiums being paid. GA shall accrue @ 5% of GMB. No
GA shall accrue once the policy has been converted to a Reduced Paid-up policy.
Please refer company website www.tataaia.com for details on GMB Factors
o Option II - Regular Income: A Guaranteed Annual Income (GAI) dened as a percentage of one
Annualised Premiums shall commence from the end of the year following maturity for a dened
Income Period, provided the policy is in force.
o For Policy Term 6, the GAI shall commence from the end of the 7th year to the end of the 11th
year.
o For Policy Term 7, the GAI shall commence from the end of the 8th year to the end of the 13th
year.
o For Policy Term 8, the GAI shall commence from the end of the 9th year to the end of the 15th
year.
o For Policy Term 9, the GAI shall commence from the end of the 10th year to the end of the
17tht year.
o For Policy Term 10, the GAI shall commence from the end of the 11th year to the end of the
19th year.
o For Policy Term 11, the GAI shall commence from the end of the 12th year to the end of the
21st year.
o For Policy Term 13, the GAI shall commence from the end of the 14th year to the end of the
25th year.
Where, Guaranteed Annual Income percentage factor shall be as per below table:
The policyholder has the option to receive the commuted value of the future Guaranteed Annual
Income, in the form of a lump sum benet at maturity, discounted at 7.45% p.a. for premium
paying term 5 to 10 years and 7.20% p.a. for premium paying term 12 years. This discounting
rate is not guaranteed and is subject to change based on prevailing bond yields (aligned to 10
year G-sec). However, any change in the methodology/formula shall be subject to IRDAI approval.
o Option III - Whole Life Income: : A Guaranteed Annual Income (GAI) dened as a percentage of
Total Premiums Paid shall commence from the end of the year following maturity and shall be
payable until the death of the Insured in case of single life or until the second death in case of joint
life. Where, Guaranteed Annual Income percentage factor shall be as follows:
GAI = Rate A * (Total Premiums Payable up to Rs.125,000) + Rate B * (Total Premiums Payable
in excess of Rs. 125,000) for single life.
GAI = Rate A * (Total Premiums Payable up to Rs.150,000) + Rate B * (Total Premiums Payable
in excess of Rs. 150,000) for joint life.
For Single Life policies, the rates offered to a female life will be equal to a male life with a three year
setback. All Joint Life rates are unisex.
The policyholder shall also be given the option to receive the GAI on a monthly basis wherein the
following conversion factor shall be used to arrive at the income payable. The income shall
commence from the end of the month following maturity. This option has to be chosen at
inception and cannot be altered once chosen.
After the policy term, the policyholder or the nominee(s)/legal heir(s) shall have the option to
receive a commuted value depending on the age at the time of commutation. Details of
computation of commuted value is provided in Annexure B.
Commuted Value = (F1 * Guaranteed Annual Income + F2 * Total Premiums Paid).
The factors F1 & F2 depend on the age of the surviving life assured at the time of commutation.
For joint life cases when both lives assured are alive, the age of the older of the two life assureds
is to be considered.
term 12 years under Option II. For Option III Guaranteed Maturity Benet shall be equal to the
Guaranteed Annual Income multiplied by the GMB factors provided on company website
www.tataaia.com.
“Total Premiums Payable" refers to an amount equal to the Annualised Premium multiplied by the
Premium Payment Term of the policy.
Additional Benefits and Features
Flexible premium payment modes:
You have an option to pay the premiums either Annually, Half-yearly, Quarterly and Monthly modes.
Loading on premiums will be applicable as mentioned in the table below:
Optional Riders:
You have the exibility to enhance your cover by adding the following optional riders, by paying
additional rider premium over and above your base policy premium.
1. Tata AIA Life Insurance Accidental Death and Dismemberment (Long Scale) (ADDL)
Rider (UIN: 110B028V03)
This rider ensures protection of your family by paying your nominee an amount equal to the rider sum
assured in case of an accidental death. In case of severe dismemberment like loss of limbs or bodily
functions or severe burns due to an accident, it will pay a percentage of the rider sum assured as per
the ADDL benet chart. The benets will be doubled in case of certain accidental death or
dismemberments. This rider can be attached only at Policy inception.
2. Tata AIA Life Insurance Waiver of Premium Plus (WOPP) Rider (UIN: 110B029V02)
This rider provides for the waiver of all future premiums of the basic policy which fall due in case of
death or while the proposer is totally and permanently disabled (provided that the death occurs
/disability commences before the proposer reaches 70 years or the end of premium payment term of
the basic plan, whichever is earlier). This rider can be attached only at Policy inception.
3. Tata AIA Life Insurance Non-Linked Comprehensive Protection Rider (UIN:110B033V02
or any other later version)
This rider provides coverage for various unforeseen events, such as death, disability due to accident,
a wide range of critical illnesses, or terminal illness. It allows exibility to receive bene¬t as
combination of lump sum or income for xed period, Income till survival of partner or Waiver of
Premium. This rider can be opted either while taking the policy, or at the time of any policy anniversary.
4. Tata AIA Life Insurance Non-Linked Comprehensive Health Rider (UIN: 110B031V02 or
any other later version)
The rider covers various unforeseen events and illnesses, including disability, hospitalization, and
critical illnesses such as cancer and cardiac arrests. It also provides coverage against both major
illnesses, and minor injuries or illnesses, while allowing multiple claim payouts. Rider can be opted
either while taking the policy, or at the time of any policy anniversary.
The above riders will not be offered if the outstanding term under the base policy is less than 5 years.
There is no overlap in benet offered under different riders and rider benets shall be payable
separately in addition to base plan benets. In case the product is purchased under PoS, then no
rider can be attached.
Death Benet:
In case of death of the Life Assured during the Policy Term, provided the policy is in force, the Sum
Assured on Death as dened below shall be payable.
Under Option I: Additionally, accrued Guaranteed Addition as on the date of Death shall be payable
along with Sum Assured on Death.
Under Option II: In case of death of the life insured after maturity; All the future income payments shall
be payable to the nominee/legal heir(s) of the life insured. The nominee/legal heir(s) also has the
option to receive the commuted value of the future income at the time of death of life insured,
discounted at 7.45% p.a. for premium paying term 5 to 10 years and 7.20% p.a. for premium paying
term 12 years.
Under Option III:
Death during policy term: In case of death of the life insured during the policy term; Death Benets
Multiple for Basic Sum Assured will be as follows:
Death after policy term: In case of death of the life insured after the policy term;
• For single life policies, the Total Premiums Paid shall be payable
• For joint life policies, the Total Premiums Paid shall be payable on the second death only. No
death benet is payable on the rst death.
For single life policies, the policy will terminate upon the death of the insured and no other benet
under the policy shall be payable.
For joint life policies, the policy will continue after First Death, and the policy will terminate upon the
Second Death and no other benet under the policy shall be payable
Kindly refer Annexure A for Death Benet Multiple under all Plan Options I & II.
Where,
“Annualised Premium” shall be the premium paid in a year, excluding the taxes, rider premiums
underwriting extra premiums and loading for modal premiums, if any.
“Basic Sum Assured” is equal to the Death Benet Multiple times the Single/Annualised Premium.
“Total Premiums Paid" means total of all premiums received, excluding any extra premiums, any
rider premiums and taxes.
‘Guaranteed Maturity Benet’ shall be equal to the commuted value of all the GAI at maturity,
discounted at 7.45% p.a. for premium paying term 5 to 10 years and 7.20% p.a. for premium paying
11
Riders are not mandatory and are available for a nominal extra cost. For more details on the benets,
premiums and exclusions under the riders please refer to the Rider Brochure or contact our Insurance
Advisor / Intermediary or visit our nearest branch ofce.
Grace Period:
A Grace Period of fteen (15) days for monthly mode and thirty (30) days for all other modes, from the
due date will be allowed for payment of each subsequent premium. The Policy will remain in force
during this period. If the full premium for the rst 2 policy years remains unpaid at the end of their
grace period the policies shall lapse from the due date of the rst unpaid premium. If any death claim
occurs during the grace period, any due premium (without interest) of the policy for the policy year, in
which the event has occurred will be deducted from the death claim pay out.
Non forfeiture provisions:
o Lapse
When the full premiums for at least two (2) years have not paid within the Grace Period, the policy
shall lapse from the due date of rst unpaid premium and no benets will be payable.
However, if full premiums for at least two (2) years have been paid and the subsequent premium
remains unpaid within the Grace Period, the Policy will be converted into a Reduced Paid-up
Policy by default.
o Reduced Paid-Up Benet
The benets to be paid in case of reduced paid-up policies are as follows.
Death Benet:
Option 1 – Endowment:
On death during the policy term, the Sum Assured on Death x RPU Factor shall be payable along with
accrued GA. The benet shall be subject to a minimum of 105% of the Total Premiums Paid up to the
date of death. The policy will terminate upon the death of the insured and no other benet under the
policy shall be payable.
Option 2 – Regular Income:
On death during the policy term, the Sum Assured on Death x RPU Factor shall be payable. The benet
shall be subject to a minimum of 105% of the Total Premiums Paid up to the date of death. The policy
will terminate upon the death of the insured and no other benet under the policy shall be payable.
In case of death during the Income Term, all the future income payments shall be payable to the
nominee/legal heir(s) of the life insured. The nominee/leg al heir(s) also has the option to receive
the commuted value of the future income at the time of death of life insured, discounted at 7.45%
p.a. for premium paying term 5 to 10 years and 7.20% p.a. for premium paying term 12 years. This
discounting rate is not guaranteed and is subject to change based on prevailing bond yields
(aligned to 10 year G-sec). However, any change in the methodology/formula shall be subject to
IRDAI approval.
Option 3 – Whole Life Income:
Single Life: On death during the policy term, the Sum Assured on Death x RPU Factor shall be payable.
The benet shall be subject to a minimum of 105% of the Total Premiums Paid up to the date of death.
The policy will terminate upon the death of the insured and no other benet under the policy shall be
payable. In case of death of the life insured after the policy term the Total Premiums Paid shall be payable.
Joint Life: On death during the policy term, the Sum Assured on Death x RPU Factor shall be
payable. The benet shall be subject to a minimum of 105% of the Total Premiums Paid up to the date
of death. The policy will terminate upon the second death and no other benet under the policy shall
be payable. In case of second death of the life insured after the policy term the Total Premiums Paid
shall be payable.No death benet is payable on the rst death.
Maturity Benet: The maturity benets detailed above shall continue to be payable multiplied by the
RPU Factor.
o Surrender Benet
The policy shall acquire a surrender value during the policy term basis the premium paying term as
dened below.
The surrender value payable is higher of the Guaranteed Surrender Value (GSV) or Special Surrender
Value (SSV) where;
• Guaranteed Surrender Value = GSV Factor on Premiums x Total Premiums Paid + GSV Factor on
Guaranteed Additions x Accrued GA, if any)
• Special Surrender Value = SSV Factor * (RPU factor x Guaranteed Maturity Benet + Accrued GA,
if any)
Where “Reduced Paid-up (RPU) Factor” shall be equal to the total number of premiums paid divided
by the total number of Premiums Payable during the entire Premium Payment Term.
Please refer company website www.tataaia.com for details on Guaranteed Surrender Value Factors.
Please refer Policy Document for details on Special Surrender Value Factors.
The Company may revise the SSV factors from time to time. However, any change in the
methodology/formula for calculating SSV factors shall be subject to IRDAI approval.
o Revival
If a premium is in default beyond the Grace Period and subject to the Policy not having been
surrendered, it may be revived, within ve years after the due date of rst unpaid premium and before
the date of maturity, subject to: (i) Policyholder’s written application for revival; (ii) production of
Insured’s current health certicate and other evidence of insurability, satisfactory to the Company; and
(iii) payment of all overdue premiums with interest.
Upon revival, the benets of the Policy shall be restored with effect from the date of revival.
The evidences and any medical requirements called for are in line with the prevailing underwriting
guidelines duly approved by the Board & the health declaration by the life assured. Any evidence of
insurability requested at the time of revival will be based on the prevailing underwriting guidelines duly
approved by the Board. The revival will be based on the Board approved underwriting policy. The
applicable interest rate for revival is determined using the SBI [or any other public sector undertaking
bank] domestic term deposit rate for ‘1 year to less than 2 years’, plus 2%. Any alteration in the
formula will be subject to prior approval of IRDAI.
The interest rate on revival is veried & updated on our company's systems every six months (on 1st
April & 1st Oct every year) as per the given formula. The current interest rate on revival from 1st
October 2021 is 7.00% simple p.a. (i.e. SBI interest rate of 5.00% + 2%).
Terms and Conditions
1. Free Look Period
If You are not satised with the terms & conditions/ features of the Policy, You have the right to
cancel the Policy by providing written notice to the Company and receive a refund of all premiums
paid without interest after deducting a) Proportionate risk premium for the period on cover
(including applicable taxes, cesses, and levies, if any) and b) Stamp duty charges and medical
examination costs which have been incurred for issuing the Policy. Such notice must be signed by
You and received directly by the Company within 15 days after You receive the policy document.
The said period of 15 days shall stand extended to 30 days if the Policy is sourced through
Distance Marketing mode.
Distance Marketing includes every activity of solicitation (including lead generation) and sale of
insurance products through voice mode, SMS electronic mode, physical mode (like postal mail) or
any other means of communication other than in person.
2. Change in Basic Sum Assured
Any change in the Basic Sum Assured is not allowed post inception of the policy.
3. Policy Loan
Provided that the policy acquires Surrender Value, policyholders may apply for a policy loan for such
an amount within the extent of 80% of Surrender Value. The Policy must be assigned to Tata AIA Life.
Loan Interest
Daily interest shall accrue on policy loan at a rate which the company shall determine. Interest shall
be payable on each policy anniversary after the loan date and until the loan is repaid. Any unpaid
interest shall be added to the principal loan and bear interest at the same rate. At any time while the
policy is in force, policyholder may repay the principal and accrued interest, on any part of the loan.
When the loan with accrued interest exceeds the Surrender Value, the policy will be terminated.
Residual amount, if any, will be refunded to the policyholder.
Interest rate applicable to policy loan will be equal to the prevailing SBI (State Bank of India) [or any
other public sector undertaking bank] domestic term deposit interest rate for tenure ‘1 year to less
than 2 years’ + 2%. This formula will be reviewed annually and only altered subject to prior approval
of IRDA of India. The interest rate on loans are veried & updated on our company's systems every six
months (on 1st April & 1st Oct every year) as per the given formula. The current interest rate for Loan
from 1st April October is 7.00% p.a. (i.e. SBI interest rate of 5.00% + 2%) compounding annually.
4. Auto Vesting
Where the policy is issued on the life of a minor, the policy shall automatically vest in the life insured
on his/her attaining age of majority. On vesting, the Company shall recognize the life insured to be the
holder of the policy.
5. Exclusion
• Suicide Claim: In case of death due to suicide within 12 months from the date of commencement
of risk under the policy or from the date of revival of the policy, as applicable, the nominee or
beneciary of the policyholder shall be entitled to at least 80% of the total premiums paid till the
date of death or the surrender value available as on the date of death whichever is higher,
provided the policy is in force.
• Waiting Period: Waiting period is applicable for policies sourced through PoS channel. If death of
any of the life insureds occurs during the rst 90 days from the Date of commencement of risk,
we shall refund Total Premiums Paid and the policy will terminate with immediate effect. Waiting
period of 90 days is not applicable for death due to accident provided all due premiums have
been paid. Death benet and other benets as stipulated in section 7 will continue to be payable
as normal in case.
6. Tax Benets
Income Tax benets may be available as per the Tax Laws, subject to fulllment of conditions
stipulated therein.Income Tax laws are subject to change from time to time. Tata AIA Life Insurance
Company Ltd. does not assume responsibility on tax implication mentioned anywhere in this
document. Please consult your own tax consultant to know the tax benets available to you.
7. Assignment
Assignment is allowed as per provisions of Section 38 of the Insurance Act 1938 as amended from
time to time.
8. Nomination
Nomination is allowed as per provisions of Section 39 of the Insurance Act 1938 as amended from
time to time.
9. Fraud, Misstatement or Suppression
Any fraud, misstatement or suppression of a material fact under the policy shall be dealt as per the
provisions of Section 45 of the Insurance Act 1938 as amended from time to time.
10. Advance Premium
Collection of advance premium shall be allowed, only if the premium is collected within the same
Financial Year. However, where the premium due in one nancial year is being collected in advance in
earlier nancial year, the Company may collect the same for a maximum period of three months in
advance of the due date of the premium. The premium so collected in advance shall only be adjusted
on the due date of the premium.
11. This product is also available for sales through Company’s website www.tataaia.com
Prohibition of Rebates - Section 41 - of the Insurance Act, 1938, as amended from time to time
1. No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person
to take out or renew or continue an insurance in respect of any kind of risk relating to lives or
property in India, any rebate of the whole or part of the commission payable or any rebate of the
premium shown on the Policy, nor shall any person taking out or renewing or continuing a Policy
accept any rebate, except such rebate as may be allowed in accordance with the published
prospectuses or tables of the Insurer.
2. Any person making default in complying with the provisions of this section shall be liable for
a penalty which may extend to ten lakh rupees.
Annexure A
**All reference to age is as on last birthday.
*Premium excludes applicable taxes, duties, surcharge, cess or levies.
Sample Illustration
Age Single Pay 5 Pay 6 Pay 7 Pay 8 Pay 9 Pay 10 Pay 11 Pay 12 Pay
Age Single Pay 5 Pay 6 Pay 7 Pay 8 Pay 9 Pay 10 Pay 11 Pay 12 Pay
0 23.50 23.50 23.50 23.50 23.50 23.50 23.50 23.50 23.50
1 23.25 23.25 23.25 23.25 23.25 23.25 23.25 23.25 23.25
2 23.00 23.00 23.00 23.00 23.00 23.00 23.00 23.00 23.00
3 22.75 22.75 22.75 22.75 22.75 22.75 22.75 22.75 22.75
4 22.50 22.50 22.50 22.50 22.50 22.50 22.50 22.50 22.50
5 22.25 22.25 22.25 22.25 22.25 22.25 22.25 22.25 22.25
6 22.00 22.00 22.00 22.00 22.00 22.00 22.00 22.00 22.00
7 21.75 21.75 21.75 21.75 21.75 21.75 21.75 21.75 21.75
8 21.50 21.50 21.50 21.50 21.50 21.50 21.50 21.50 21.50
9 21.25 21.25 21.25 21.25 21.25 21.25 21.25 21.25 21.25
10 21.00 21.00 21.00 21.00 21.00 21.00 21.00 21.00 21.00
11 20.75 20.75 20.75 20.75 20.75 20.75 20.75 20.75 20.75
12 20.50 20.50 20.50 20.50 20.50 20.50 20.50 20.50 20.50
13 20.25 20.25 20.25 20.25 20.25 20.25 20.25 20.25 20.25
14 20.00 20.00 20.00 20.00 20.00 20.00 20.00 20.00 20.00
15 19.75 19.75 19.75 19.75 19.75 19.75 19.75 19.75 19.75
16 19.50 19.50 19.50 19.50 19.50 19.50 19.50 19.50 19.50
17 19.25 19.25 19.25 19.25 19.25 19.25 19.25 19.25 19.25
18 19.00 19.00 19.00 19.00 19.00 19.00 19.00 19.00 19.00
19 18.75 18.75 18.75 18.75 18.75 18.75 18.75 18.75 18.75
20 18.50 18.50 18.50 18.50 18.50 18.50 18.50 18.50 18.50
21 18.25 18.25 18.25 18.25 18.25 18.25 18.25 18.25 18.25
22 18.00 18.00 18.00 18.00 18.00 18.00 18.00 18.00 18.00
23 17.75 17.75 17.75 17.75 17.75 17.75 17.75 17.75 17.75
24 17.50 17.50 17.50 17.50 17.50 17.50 17.50 17.50 17.50
25 17.25 17.25 17.25 17.25 17.25 17.25 17.25 17.25 17.25
26 17.00 17.00 17.00 17.00 17.00 17.00 17.00 17.00 17.00
27 16.75 16.75 16.75 16.75 16.75 16.75 16.75 16.75 16.75
28 16.50 16.50 16.50 16.50 16.50 16.50 16.50 16.50 16.50
29 16.25 16.25 16.25 16.25 16.25 16.25 16.25 16.25 16.25
30 16.00 16.00 16.00 16.00 16.00 16.00 16.00 16.00 16.00
31 15.75 15.75 15.75 15.75 15.75 15.75 15.75 15.75 15.75
32 15.50 15.50 15.50 15.50 15.50 15.50 15.50 15.50 15.50
33 15.25 15.25 15.25 15.25 15.25 15.25 15.25 15.25 15.25
34 15.00 15.00 15.00 15.00 15.00 15.00 15.00 15.00 15.00
35 14.75 14.75 14.75 14.75 14.75 14.75 14.75 14.75 14.75
36 14.50 14.50 14.50 14.50 14.50 14.50 14.50 14.50 14.50
37 14.25 14.25 14.25 14.25 14.25 14.25 14.25 14.25 14.25
38 14.00 14.00 14.00 14.00 14.00 14.00 14.00 14.00 14.00
39 13.75 13.75 13.75 13.75 13.75 13.75 13.75 13.75 13.75
40 13.50 13.50 13.50 13.50 13.50 13.50 13.50 13.50 13.50
41 13.25 13.25 13.25 13.25 13.25 13.25 13.25 13.25 13.25
42 13.00 13.00 13.00 13.00 13.00 13.00 13.00 13.00 13.00
43 12.75 12.75 12.75 12.75 12.75 12.75 12.75 12.75 12.75
44 12.50 12.50 12.50 12.50 12.50 12.50 12.50 12.50 12.50
45 12.25 12.25 12.25 12.25 12.25 12.25 12.25 12.25 12.25
46 12.00 12.00 12.00 12.00 12.00 12.00 12.00 12.00 12.00
47 11.75 11.75 11.75 11.75 11.75 11.75 11.75 11.75 11.75
48 11.50 11.50 11.50 11.50 11.50 11.50 11.50 11.50 11.50
49 11.25 11.25 11.25 11.25 11.25 11.25 11.25 11.25 11.25
50 11.00 11.00 11.00 11.00 11.00 11.00 11.00 11.00 11.00
51 NA 10.80 10.80 10.80 10.80 10.80 10.80 10.80 10.80
52 NA 10.60 10.60 10.60 10.60 10.60 10.60 10.60 10.60
53 NA 10.40 10.40 10.40 10.40 10.40 10.40 10.40 10.40
54 NA 10.20 10.20 10.20 10.20 10.20 10.20 10.20 10.20
55 NA 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00
56 NA 9.80 9.80 9.80 9.80 9.80 9.80 9.80 9.80
57 NA 9.60 9.60 9.60 9.60 9.60 9.60 9.60 9.60
58 NA 9.40 9.40 9.40 9.40 9.40 9.40 9.40 9.40
59 NA 9.20 9.20 9.20 9.20 9.20 9.20 9.20 9.20
60 NA 9.00 9.00 9.00 9.00 9.00 9.00 9.00 9.00
61 NA 8.80 8.80 8.80 8.80 8.80 8.80 8.80 8.80
62 NA 8.60 8.60 8.60 8.60 8.60 8.60 8.60 8.60
63 NA 8.40 8.40 8.40 8.40 8.40 8.40 8.40 8.40
64 NA 8.20 8.20 8.20 8.20 8.20 8.20 8.20 8.20
65 NA 8.00 8.00 8.00 8.00 8.00 8.00 8.00 8.00
Death Benet for Option 1 - Endowment:
12
Age 5 Pay 6 Pay 7 Pay 8 Pay 9 Pay 10 Pay 12 Pay
0 23.50 23.50 23.50 23.50 23.50 23.50 23.50
1 23.25 23.25 23.25 23.25 23.25 23.25 23.25
2 23.00 23.00 23.00 23.00 23.00 23.00 23.00
3 22.75 22.75 22.75 22.75 22.75 22.75 22.75
4 22.50 22.50 22.50 22.50 22.50 22.50 22.50
5 22.25 22.25 22.25 22.25 22.25 22.25 22.25
6 22.00 22.00 22.00 22.00 22.00 22.00 22.00
7 21.75 21.75 21.75 21.75 21.75 21.75 21.75
Death Benet for Option II – Regular Income:
Tata AIA Life Guaranteed Return Insurance Plan
We, at Tata AIA Life, believe in protecting your dreams at various stages of life without compromising
on your basic needs through nancial resources. You do not have to think twice to live your dreams
as they now come with guaranteed payouts.
We present to you, Tata AIA Life Guaranteed Return Insurance Plan to meets tomorrow's requirements
along with protecting your loved ones and dreams as it ensures you of guaranteed returns.
This plan helps you fulll your medium to long term goals such as Child’s Education/ Marriage or
Retirement planning etc.
Key Features
• Flexibility to choose Plan Option: Endowment, Regular Income or Whole Life Income
• Receive Guaranteed benets on Maturity or Death
• Guaranteed Additions that boost corpus year on year under Endowment Option
• Flexibility to cover your spouse in same policy under Whole Life Income Option
• Choice of Policy Term with limited Premium Payment Term
• Enhance your protection with optional Riders
Eligibility Criteria
**All reference to age is as on last birthday. Under whole life income option both the Life Assureds are of age 50 years.
* Premium is exclusive of applicable taxes, cesses & levies.
#
Assuming policy ends after Second Death at age 100.
Key benefits in details
Maturity Benets: On survival of the Life Assured till the end of Policy Term provided the policy is in
force, following benet shall be payable basis chosen plan option:
o Option I - Endowment: On maturity of the policy a lump sum benet equal to Guaranteed Maturity
Benet (GMB) along with the accrued Guaranteed Additions (GA) shall be payable at Maturity.
Guaranteed Maturity Benet (GMB) = GMB Factor * Total Premiums Payable
Guaranteed Addition dened as a percentage of GMB shall accrued at a simple rate for each
completed policy year, throughout the Policy Term and shall be payable on Maturity or Death
whichever is earlier, subject to all due premiums being paid. GA shall accrue @ 5% of GMB. No
GA shall accrue once the policy has been converted to a Reduced Paid-up policy.
Please refer company website www.tataaia.com for details on GMB Factors
o Option II - Regular Income: A Guaranteed Annual Income (GAI) dened as a percentage of one
Annualised Premiums shall commence from the end of the year following maturity for a dened
Income Period, provided the policy is in force.
o For Policy Term 6, the GAI shall commence from the end of the 7th year to the end of the 11th
year.
o For Policy Term 7, the GAI shall commence from the end of the 8th year to the end of the 13th
year.
o For Policy Term 8, the GAI shall commence from the end of the 9th year to the end of the 15th
year.
o For Policy Term 9, the GAI shall commence from the end of the 10th year to the end of the
17tht year.
o For Policy Term 10, the GAI shall commence from the end of the 11th year to the end of the
19th year.
o For Policy Term 11, the GAI shall commence from the end of the 12th year to the end of the
21st year.
o For Policy Term 13, the GAI shall commence from the end of the 14th year to the end of the
25th year.
Where, Guaranteed Annual Income percentage factor shall be as per below table:
The policyholder has the option to receive the commuted value of the future Guaranteed Annual
Income, in the form of a lump sum benet at maturity, discounted at 7.45% p.a. for premium
paying term 5 to 10 years and 7.20% p.a. for premium paying term 12 years. This discounting
rate is not guaranteed and is subject to change based on prevailing bond yields (aligned to 10
year G-sec). However, any change in the methodology/formula shall be subject to IRDAI approval.
o Option III - Whole Life Income: : A Guaranteed Annual Income (GAI) dened as a percentage of
Total Premiums Paid shall commence from the end of the year following maturity and shall be
payable until the death of the Insured in case of single life or until the second death in case of joint
life. Where, Guaranteed Annual Income percentage factor shall be as follows:
GAI = Rate A * (Total Premiums Payable up to Rs.125,000) + Rate B * (Total Premiums Payable
in excess of Rs. 125,000) for single life.
GAI = Rate A * (Total Premiums Payable up to Rs.150,000) + Rate B * (Total Premiums Payable
in excess of Rs. 150,000) for joint life.
For Single Life policies, the rates offered to a female life will be equal to a male life with a three year
setback. All Joint Life rates are unisex.
The policyholder shall also be given the option to receive the GAI on a monthly basis wherein the
following conversion factor shall be used to arrive at the income payable. The income shall
commence from the end of the month following maturity. This option has to be chosen at
inception and cannot be altered once chosen.
After the policy term, the policyholder or the nominee(s)/legal heir(s) shall have the option to
receive a commuted value depending on the age at the time of commutation. Details of
computation of commuted value is provided in Annexure B.
Commuted Value = (F1 * Guaranteed Annual Income + F2 * Total Premiums Paid).
The factors F1 & F2 depend on the age of the surviving life assured at the time of commutation.
For joint life cases when both lives assured are alive, the age of the older of the two life assureds
is to be considered.
term 12 years under Option II. For Option III Guaranteed Maturity Benet shall be equal to the
Guaranteed Annual Income multiplied by the GMB factors provided on company website
www.tataaia.com.
“Total Premiums Payable" refers to an amount equal to the Annualised Premium multiplied by the
Premium Payment Term of the policy.
Additional Benefits and Features
Flexible premium payment modes:
You have an option to pay the premiums either Annually, Half-yearly, Quarterly and Monthly modes.
Loading on premiums will be applicable as mentioned in the table below:
Optional Riders:
You have the exibility to enhance your cover by adding the following optional riders, by paying
additional rider premium over and above your base policy premium.
1. Tata AIA Life Insurance Accidental Death and Dismemberment (Long Scale) (ADDL)
Rider (UIN: 110B028V03)
This rider ensures protection of your family by paying your nominee an amount equal to the rider sum
assured in case of an accidental death. In case of severe dismemberment like loss of limbs or bodily
functions or severe burns due to an accident, it will pay a percentage of the rider sum assured as per
the ADDL benet chart. The benets will be doubled in case of certain accidental death or
dismemberments. This rider can be attached only at Policy inception.
2. Tata AIA Life Insurance Waiver of Premium Plus (WOPP) Rider (UIN: 110B029V02)
This rider provides for the waiver of all future premiums of the basic policy which fall due in case of
death or while the proposer is totally and permanently disabled (provided that the death occurs
/disability commences before the proposer reaches 70 years or the end of premium payment term of
the basic plan, whichever is earlier). This rider can be attached only at Policy inception.
3. Tata AIA Life Insurance Non-Linked Comprehensive Protection Rider (UIN:110B033V02
or any other later version)
This rider provides coverage for various unforeseen events, such as death, disability due to accident,
a wide range of critical illnesses, or terminal illness. It allows exibility to receive bene¬t as
combination of lump sum or income for xed period, Income till survival of partner or Waiver of
Premium. This rider can be opted either while taking the policy, or at the time of any policy anniversary.
4. Tata AIA Life Insurance Non-Linked Comprehensive Health Rider (UIN: 110B031V02 or
any other later version)
The rider covers various unforeseen events and illnesses, including disability, hospitalization, and
critical illnesses such as cancer and cardiac arrests. It also provides coverage against both major
illnesses, and minor injuries or illnesses, while allowing multiple claim payouts. Rider can be opted
either while taking the policy, or at the time of any policy anniversary.
The above riders will not be offered if the outstanding term under the base policy is less than 5 years.
There is no overlap in benet offered under different riders and rider benets shall be payable
separately in addition to base plan benets. In case the product is purchased under PoS, then no
rider can be attached.
Death Benet:
In case of death of the Life Assured during the Policy Term, provided the policy is in force, the Sum
Assured on Death as dened below shall be payable.
Under Option I: Additionally, accrued Guaranteed Addition as on the date of Death shall be payable
along with Sum Assured on Death.
Under Option II: In case of death of the life insured after maturity; All the future income payments shall
be payable to the nominee/legal heir(s) of the life insured. The nominee/legal heir(s) also has the
option to receive the commuted value of the future income at the time of death of life insured,
discounted at 7.45% p.a. for premium paying term 5 to 10 years and 7.20% p.a. for premium paying
term 12 years.
Under Option III:
Death during policy term: In case of death of the life insured during the policy term; Death Benets
Multiple for Basic Sum Assured will be as follows:
Death after policy term: In case of death of the life insured after the policy term;
• For single life policies, the Total Premiums Paid shall be payable
• For joint life policies, the Total Premiums Paid shall be payable on the second death only. No
death benet is payable on the rst death.
For single life policies, the policy will terminate upon the death of the insured and no other benet
under the policy shall be payable.
For joint life policies, the policy will continue after First Death, and the policy will terminate upon the
Second Death and no other benet under the policy shall be payable
Kindly refer Annexure A for Death Benet Multiple under all Plan Options I & II.
Where,
“Annualised Premium” shall be the premium paid in a year, excluding the taxes, rider premiums
underwriting extra premiums and loading for modal premiums, if any.
“Basic Sum Assured” is equal to the Death Benet Multiple times the Single/Annualised Premium.
“Total Premiums Paid" means total of all premiums received, excluding any extra premiums, any
rider premiums and taxes.
‘Guaranteed Maturity Benet’ shall be equal to the commuted value of all the GAI at maturity,
discounted at 7.45% p.a. for premium paying term 5 to 10 years and 7.20% p.a. for premium paying
13 14
Riders are not mandatory and are available for a nominal extra cost. For more details on the benets,
premiums and exclusions under the riders please refer to the Rider Brochure or contact our Insurance
Advisor / Intermediary or visit our nearest branch ofce.
Grace Period:
A Grace Period of fteen (15) days for monthly mode and thirty (30) days for all other modes, from the
due date will be allowed for payment of each subsequent premium. The Policy will remain in force
during this period. If the full premium for the rst 2 policy years remains unpaid at the end of their
grace period the policies shall lapse from the due date of the rst unpaid premium. If any death claim
occurs during the grace period, any due premium (without interest) of the policy for the policy year, in
which the event has occurred will be deducted from the death claim pay out.
Non forfeiture provisions:
o Lapse
When the full premiums for at least two (2) years have not paid within the Grace Period, the policy
shall lapse from the due date of rst unpaid premium and no benets will be payable.
However, if full premiums for at least two (2) years have been paid and the subsequent premium
remains unpaid within the Grace Period, the Policy will be converted into a Reduced Paid-up
Policy by default.
o Reduced Paid-Up Benet
The benets to be paid in case of reduced paid-up policies are as follows.
Death Benet:
Option 1 – Endowment:
On death during the policy term, the Sum Assured on Death x RPU Factor shall be payable along with
accrued GA. The benet shall be subject to a minimum of 105% of the Total Premiums Paid up to the
date of death. The policy will terminate upon the death of the insured and no other benet under the
policy shall be payable.
Option 2 – Regular Income:
On death during the policy term, the Sum Assured on Death x RPU Factor shall be payable. The benet
shall be subject to a minimum of 105% of the Total Premiums Paid up to the date of death. The policy
will terminate upon the death of the insured and no other benet under the policy shall be payable.
In case of death during the Income Term, all the future income payments shall be payable to the
nominee/legal heir(s) of the life insured. The nominee/leg al heir(s) also has the option to receive
the commuted value of the future income at the time of death of life insured, discounted at 7.45%
p.a. for premium paying term 5 to 10 years and 7.20% p.a. for premium paying term 12 years. This
discounting rate is not guaranteed and is subject to change based on prevailing bond yields
(aligned to 10 year G-sec). However, any change in the methodology/formula shall be subject to
IRDAI approval.
Option 3 – Whole Life Income:
Single Life: On death during the policy term, the Sum Assured on Death x RPU Factor shall be payable.
The benet shall be subject to a minimum of 105% of the Total Premiums Paid up to the date of death.
The policy will terminate upon the death of the insured and no other benet under the policy shall be
payable. In case of death of the life insured after the policy term the Total Premiums Paid shall be payable.
Joint Life: On death during the policy term, the Sum Assured on Death x RPU Factor shall be
payable. The benet shall be subject to a minimum of 105% of the Total Premiums Paid up to the date
of death. The policy will terminate upon the second death and no other benet under the policy shall
be payable. In case of second death of the life insured after the policy term the Total Premiums Paid
shall be payable.No death benet is payable on the rst death.
Maturity Benet: The maturity benets detailed above shall continue to be payable multiplied by the
RPU Factor.
o Surrender Benet
The policy shall acquire a surrender value during the policy term basis the premium paying term as
dened below.
The surrender value payable is higher of the Guaranteed Surrender Value (GSV) or Special Surrender
Value (SSV) where;
• Guaranteed Surrender Value = GSV Factor on Premiums x Total Premiums Paid + GSV Factor on
Guaranteed Additions x Accrued GA, if any)
• Special Surrender Value = SSV Factor * (RPU factor x Guaranteed Maturity Benet + Accrued GA,
if any)
Where “Reduced Paid-up (RPU) Factor” shall be equal to the total number of premiums paid divided
by the total number of Premiums Payable during the entire Premium Payment Term.
Please refer company website www.tataaia.com for details on Guaranteed Surrender Value Factors.
Please refer Policy Document for details on Special Surrender Value Factors.
The Company may revise the SSV factors from time to time. However, any change in the
methodology/formula for calculating SSV factors shall be subject to IRDAI approval.
o Revival
If a premium is in default beyond the Grace Period and subject to the Policy not having been
surrendered, it may be revived, within ve years after the due date of rst unpaid premium and before
the date of maturity, subject to: (i) Policyholder’s written application for revival; (ii) production of
Insured’s current health certicate and other evidence of insurability, satisfactory to the Company; and
(iii) payment of all overdue premiums with interest.
Upon revival, the benets of the Policy shall be restored with effect from the date of revival.
The evidences and any medical requirements called for are in line with the prevailing underwriting
guidelines duly approved by the Board & the health declaration by the life assured. Any evidence of
insurability requested at the time of revival will be based on the prevailing underwriting guidelines duly
approved by the Board. The revival will be based on the Board approved underwriting policy. The
applicable interest rate for revival is determined using the SBI [or any other public sector undertaking
bank] domestic term deposit rate for ‘1 year to less than 2 years’, plus 2%. Any alteration in the
formula will be subject to prior approval of IRDAI.
The interest rate on revival is veried & updated on our company's systems every six months (on 1st
April & 1st Oct every year) as per the given formula. The current interest rate on revival from 1st
October 2021 is 7.00% simple p.a. (i.e. SBI interest rate of 5.00% + 2%).
Terms and Conditions
1. Free Look Period
If You are not satised with the terms & conditions/ features of the Policy, You have the right to
cancel the Policy by providing written notice to the Company and receive a refund of all premiums
paid without interest after deducting a) Proportionate risk premium for the period on cover
(including applicable taxes, cesses, and levies, if any) and b) Stamp duty charges and medical
examination costs which have been incurred for issuing the Policy. Such notice must be signed by
You and received directly by the Company within 15 days after You receive the policy document.
The said period of 15 days shall stand extended to 30 days if the Policy is sourced through
Distance Marketing mode.
Distance Marketing includes every activity of solicitation (including lead generation) and sale of
insurance products through voice mode, SMS electronic mode, physical mode (like postal mail) or
any other means of communication other than in person.
2. Change in Basic Sum Assured
Any change in the Basic Sum Assured is not allowed post inception of the policy.
3. Policy Loan
Provided that the policy acquires Surrender Value, policyholders may apply for a policy loan for such
an amount within the extent of 80% of Surrender Value. The Policy must be assigned to Tata AIA Life.
Loan Interest
Daily interest shall accrue on policy loan at a rate which the company shall determine. Interest shall
be payable on each policy anniversary after the loan date and until the loan is repaid. Any unpaid
interest shall be added to the principal loan and bear interest at the same rate. At any time while the
policy is in force, policyholder may repay the principal and accrued interest, on any part of the loan.
When the loan with accrued interest exceeds the Surrender Value, the policy will be terminated.
Residual amount, if any, will be refunded to the policyholder.
Interest rate applicable to policy loan will be equal to the prevailing SBI (State Bank of India) [or any
other public sector undertaking bank] domestic term deposit interest rate for tenure ‘1 year to less
than 2 years’ + 2%. This formula will be reviewed annually and only altered subject to prior approval
of IRDA of India. The interest rate on loans are veried & updated on our company's systems every six
months (on 1st April & 1st Oct every year) as per the given formula. The current interest rate for Loan
from 1st April October is 7.00% p.a. (i.e. SBI interest rate of 5.00% + 2%) compounding annually.
4. Auto Vesting
Where the policy is issued on the life of a minor, the policy shall automatically vest in the life insured
on his/her attaining age of majority. On vesting, the Company shall recognize the life insured to be the
holder of the policy.
5. Exclusion
• Suicide Claim: In case of death due to suicide within 12 months from the date of commencement
of risk under the policy or from the date of revival of the policy, as applicable, the nominee or
beneciary of the policyholder shall be entitled to at least 80% of the total premiums paid till the
date of death or the surrender value available as on the date of death whichever is higher,
provided the policy is in force.
• Waiting Period: Waiting period is applicable for policies sourced through PoS channel. If death of
any of the life insureds occurs during the rst 90 days from the Date of commencement of risk,
we shall refund Total Premiums Paid and the policy will terminate with immediate effect. Waiting
period of 90 days is not applicable for death due to accident provided all due premiums have
been paid. Death benet and other benets as stipulated in section 7 will continue to be payable
as normal in case.
6. Tax Benets
Income Tax benets may be available as per the Tax Laws, subject to fulllment of conditions
stipulated therein.Income Tax laws are subject to change from time to time. Tata AIA Life Insurance
Company Ltd. does not assume responsibility on tax implication mentioned anywhere in this
document. Please consult your own tax consultant to know the tax benets available to you.
7. Assignment
Assignment is allowed as per provisions of Section 38 of the Insurance Act 1938 as amended from
time to time.
8. Nomination
Nomination is allowed as per provisions of Section 39 of the Insurance Act 1938 as amended from
time to time.
9. Fraud, Misstatement or Suppression
Any fraud, misstatement or suppression of a material fact under the policy shall be dealt as per the
provisions of Section 45 of the Insurance Act 1938 as amended from time to time.
10. Advance Premium
Collection of advance premium shall be allowed, only if the premium is collected within the same
Financial Year. However, where the premium due in one nancial year is being collected in advance in
earlier nancial year, the Company may collect the same for a maximum period of three months in
advance of the due date of the premium. The premium so collected in advance shall only be adjusted
on the due date of the premium.
11. This product is also available for sales through Company’s website www.tataaia.com
Prohibition of Rebates - Section 41 - of the Insurance Act, 1938, as amended from time to time
1. No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person
to take out or renew or continue an insurance in respect of any kind of risk relating to lives or
property in India, any rebate of the whole or part of the commission payable or any rebate of the
premium shown on the Policy, nor shall any person taking out or renewing or continuing a Policy
accept any rebate, except such rebate as may be allowed in accordance with the published
prospectuses or tables of the Insurer.
2. Any person making default in complying with the provisions of this section shall be liable for
a penalty which may extend to ten lakh rupees.
Annexure A
**All reference to age is as on last birthday.
*Premium excludes applicable taxes, duties, surcharge, cess or levies.
Sample Illustration
12
Age 5 Pay 6 Pay 7 Pay 8 Pay 9 Pay 10 Pay 12 Pay
8 21.50 21.50 21.50 21.50 21.50 21.50 21.50
9 21.25 21.25 21.25 21.25 21.25 21.25 21.25
10 21.00 21.00 21.00 21.00 21.00 21.00 21.00
11 20.75 20.75 20.75 20.75 20.75 20.75 20.75
12 20.50 20.50 20.50 20.50 20.50 20.50 20.50
13 20.25 20.25 20.25 20.25 20.25 20.25 20.25
14 20.00 20.00 20.00 20.00 20.00 20.00 20.00
15 19.75 19.75 19.75 19.75 19.75 19.75 19.75
16 19.50 19.50 19.50 19.50 19.50 19.50 19.50
17 19.25 19.25 19.25 19.25 19.25 19.25 19.25
18 19.00 19.00 19.00 19.00 19.00 19.00 19.00
19 18.75 18.75 18.75 18.75 18.75 18.75 18.75
20 18.50 18.50 18.50 18.50 18.50 18.50 18.50
21 18.25 18.25 18.25 18.25 18.25 18.25 18.25
22 18.00 18.00 18.00 18.00 18.00 18.00 18.00
23 17.75 17.75 17.75 17.75 17.75 17.75 17.75
24 17.50 17.50 17.50 17.50 17.50 17.50 17.50
25 17.25 17.25 17.25 17.25 17.25 17.25 17.25
26 17.00 17.00 17.00 17.00 17.00 17.00 17.00
27 16.75 16.75 16.75 16.75 16.75 16.75 16.75
28 16.50 16.50 16.50 16.50 16.50 16.50 16.50
29 16.25 16.25 16.25 16.25 16.25 16.25 16.25
30 16.00 16.00 16.00 16.00 16.00 16.00 16.00
31 15.75 15.75 15.75 15.75 15.75 15.75 15.75
32 15.50 15.50 15.50 15.50 15.50 15.50 15.50
33 15.25 15.25 15.25 15.25 15.25 15.25 15.25
34 15.00 15.00 15.00 15.00 15.00 15.00 15.00
35 14.75 14.75 14.75 14.75 14.75 14.75 14.75
36 14.50 14.50 14.50 14.50 14.50 14.50 14.50
37 14.25 14.25 14.25 14.25 14.25 14.25 14.25
38 14.00 14.00 14.00 14.00 14.00 14.00 14.00
39 13.75 13.75 13.75 13.75 13.75 13.75 13.75
40 13.50 13.50 13.50 13.50 13.50 13.50 13.50
41 13.25 13.25 13.25 13.25 13.25 13.25 13.25
42 13.00 13.00 13.00 13.00 13.00 13.00 13.00
43 12.75 12.75 12.75 12.75 12.75 12.75 12.75
44 12.50 12.50 12.50 12.50 12.50 12.50 12.50
45 12.25 12.25 12.25 12.25 12.25 12.25 12.25
46 12.00 12.00 12.00 12.00 12.00 12.00 12.00
47 11.75 11.75 11.75 11.75 11.75 11.75 11.75
48 11.50 11.50 11.50 11.50 11.50 11.50 11.50
49 11.25 11.25 11.25 11.25 11.25 11.25 11.25
50 11.00 11.00 11.00 11.00 11.00 11.00 11.00
51 10.80 10.80 10.80 10.80 10.80 10.80 10.80
52 10.60 10.60 10.60 10.60 10.60 10.60 10.60
53 10.40 10.40 10.40 10.40 10.40 10.40 10.40
Age 5 Pay 6 Pay 7 Pay 8 Pay 9 Pay 10 Pay 12 Pay
54 10.20 10.20 10.20 10.20 10.20 10.20 10.20
55 10.00 10.00 10.00 10.00 10.00 10.00 10.00
56 NA NA NA NA NA 9.80 NA
50 12.12 8.85%
51 12.05 9.36%
52 11.98 9.89%
53 11.91 10.44%
54 11.83 11.02%
55 11.75 11.62%
56 11.67 12.25%
57 11.58 12.91%
58 11.48 13.60%
59 11.39 14.32%
60 11.29 15.07%
61 11.18 15.86%
62 11.07 16.69%
63 10.95 17.55%
64 10.83 18.44%
65 10.71 19.38%
66 10.58 20.35%
67 10.44 21.35%
68 10.3 22.39%
69 10.16 23.47%
70 10.01 24.58%
71 9.85 25.73%
72 9.69 26.91%
73 9.53 28.12%
74 9.36 29.37%
75 9.19 30.65%
76 9.02 31.95%
77 8.84 33.29%
78 8.65 34.66%
79 8.46 36.05%
80 8.27 37.46%
81 8.08 38.90%
82 7.88 40.36%
83 7.68 41.84%
84 7.48 43.33%
85 7.28 44.84%
86 7.08 46.36%
87 6.87 47.88%
88 6.66 49.42%
89 6.45 50.95%
90 6.25 52.49%
91 6.04 54.02%
92 5.83 55.55%
93 5.62 57.07%
94 5.42 58.57%
95 5.21 60.06%
96 5.01 61.52%
97 4.81 62.96%
98 4.61 64.37%
99 4.42 65.74%
100 4.23 67.06%
101 4.04 68.34%
102 3.85 69.55%
103 3.67 70.69%
104 3.49 71.73%
105 3.32 72.65%
106 3.15 73.42%
107 2.98 73.97%
108 2.81 74.23%
109 2.65 74.08%
110 2.48 73.32%
111 2.31 71.65%
112 2.12 68.55%
113 1.91 63.17%
114 1.66 54.16%
115 1.31 39.59%
116 0.79 16.76%
Annexure B
Commutation Factors for Whole Life Income Option
Single Pay-
Age at time of commutation F1 F2 Age at time of commutation F1 F2
50 11.41 7.77%
51 11.35 8.24%
52 11.29 8.72%
53 11.23 9.23%
54 11.16 9.77%
55 11.09 10.33%
56 11.02 10.91%
57 10.94 11.53%
58 10.86 12.18%
59 10.78 12.86%
60 10.69 13.57%
61 10.59 14.31%
62 10.49 15.10%
63 10.39 15.91%
64 10.29 16.77%
65 10.17 17.66%
66 10.06 18.59%
67 9.94 19.56%
68 9.81 20.56%
69 9.68 21.60%
70 9.55 22.68%
71 9.41 23.79%
72 9.26 24.94%
73 9.11 26.13%
74 8.96 27.34%
75 8.8 28.60%
76 8.64 29.88%
77 8.48 31.20%
78 8.31 32.55%
79 8.14 33.93%
80 7.96 35.33%
81 7.78 36.76%
82 7.6 38.22%
83 7.41 39.69%
84 7.23 41.19%
85 7.04 42.70%
86 6.85 44.23%
87 6.65 45.77%
88 6.46 47.32%
89 6.26 48.88%
90 6.06 50.44%
91 5.87 52.00%
92 5.67 53.55%
93 5.47 55.10%
94 5.28 56.64%
95 5.08 58.16%
96 4.89 59.67%
97 4.7 61.15%
98 4.51 62.61%
99 4.32 64.03%
100 4.14 65.41%
101 3.96 66.74%
102 3.78 68.01%
103 3.61 69.21%
104 3.43 70.31%
105 3.26 71.30%
106 3.1 72.14%
107 2.94 72.77%
108 2.77 73.12%
109 2.61 73.07%
110 2.45 72.41%
111 2.28 70.86%
112 2.1 67.89%
113 1.9 62.67%
114 1.65 53.83%
115 1.3 39.42%
116 0.79 16.73%
Regular Pay-
Age at time of commutation F1 F2 Age at time of commutation F1 F2
IRDAI is not involved in activities like selling insurance policies, announcing bonus or
investment of premiums. Public receiving such phone calls are requested to lodge a
police complaint.
BEWARE OF SPURIOUS/
FRAUD PHONE CALLS!
About Tata AIA Life
Tata AIA Life Insurance Company Limited (Tata AIA Life) is a joint venture company, formed by
Tata Sons Ltd. and AIA Group Ltd (AIA). Tata AIA Life combines Tata’s pre-eminent leadership
position in India and AIA’s presence as the largest, independent listed pan-Asia Life Insurance
Group in the world spanning 18 markets in Asia Pacic. Tata Sons holds a majority stake (51 per
cent) in the Company and AIA holds 49 per cent through an AIA International Limited. Tata AIA
Life Insurance Company Limited was licensed to operate in India on February 12, 2001 and
started operations on April 1, 2001.
DISCLAIMER:
• This product is underwritten by Tata AIA Life Insurance Company Ltd.
• Insurance cover is available under this product.
• This plan is not a guaranteed issuance plan and it will be subject to Company’s underwriting and
acceptance.
• The brochure is not a contract of insurance. The precise terms and conditions of this plan are
specied in the Policy contract available on Tata AIA Life website.
• This product brochure should be read along with Benet Illustration.
• Risk cover commences along with policy commencement for all lives, including minor lives.
• Buying a Life Insurance Policy is a long-term commitment. An early termination of the Policy
usually involves high costs and the Surrender Value payable may be less than the all the
Premiums Paid.
• In case of non-standard lives and on submission of non-standard age proof, extra premiums will
be charged as per our underwriting guidelines.
• All Premiums and interest payable under the policy are exclusive of applicable taxes, duties,
surcharge, cesses or levies which will be entirely borne/ paid by the Policyholder, in addition to the
payment of such Premium or interest. Tata AIA Life shall have the right to claim, deduct, adjust
and recover the amount of any applicable tax or imposition, levied by any statutory or
administrative body, from the benets payable under the Policy.
