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Tata Plan

This document summarizes an insurance plan being offered to an individual named priyanka. The plan is a life insurance savings plan that offers a regular income for 30 years after a 12 year premium payment term. It provides life cover and returns all premiums paid at the end of the income period. Additional riders can be added for enhanced protection.

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LIFE HACK
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0% found this document useful (0 votes)
65 views8 pages

Tata Plan

This document summarizes an insurance plan being offered to an individual named priyanka. The plan is a life insurance savings plan that offers a regular income for 30 years after a 12 year premium payment term. It provides life cover and returns all premiums paid at the end of the income period. Additional riders can be added for enhanced protection.

Uploaded by

LIFE HACK
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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priyanka

Congratulations!
You just opted for your secured future by availing

Individual, Non-Linked, Non-Participating, Life Insurance Savings Plan


UIN: 110N158V09

Reasons to be connected with Tata AIA Life Insurance

67+ 98.53% 4 TAX

Lakhs Hours

Trusted Families Claim Express Tax


Brand Protected^^^ Settlement Claim Benefits1
Ratio* FY 21-22 Service4

* Individual death claim ratio as per audited financial statement.


4Terms and conditions apply

www.tataaia.com
Policy Details

priyanka
29 years / Female Regular Income
Single Life Limited Pay

(`)
What You Pay

Annual Premium# of 30,000 3,60,000


for 12 years
(PPT 12 years / PT 17 years) ^

Total Rider Premium# 0

(`)
What You Get

Life Cover 3,78,000


Sum Assured on Death at policy inception

Total Rider Sum Assured 0

^ PPT = Premium Payment Term, PT = Policy Term


# Premium is excluding Goods and Service Tax and applicable Surcharge/Cess
Quote generated is based on age, gender, smoker/ non-smoker inputs given by prospect.
This is a sample illustration where options are selected by the prospect. There are various other
options available under this product.
Sample Illustration

priyanka
29 years / Female Regular Income
Single Life Limited Pay

(`)
You Pay You Get (A+B)
Total Premium# of Total Benefit of
3,60,000 20,36,520

(A) ROP7 of
3,60,000
on Maturity

You Pay You Get

Premium# of (B) Income3 of


30,000 p.a. 55,884 p.a.
for 12 years for 30 years

Age2 29 40 45 46 75
Year 1 12 17 18 47

Life Cover
during Policy Term
3,78,000

7Return Of Premium Benefit shall be the return of Total Premiums Paid (excluding loading for modal
premiums and discount) by the policyholder and shall be payable at the end of the Income Period.
2All reference to age as on last birthday.
# Premium is excluding Goods and Service Tax and applicable Surcharge/Cess
Quote generated is based on age, gender, smoker/ non-smoker inputs given by prospect.
This is a sample illustration where options are selected by the prospect. There are various other
options available under this product.
3Terms and conditions apply
Rider Details

priyanka
29 years / Female Regular Income
Single Life Limited Pay

Premium Payment Term Policy Term Sum Assured Premium#

Base Plan 12 17 3,78,000 30,000

LS & I*** ROP5: NA NA

Partner Care ROP5: NA NA

WOP6 ROP5: NA

LS & I*** ROP5: NA NA

Partner Care ROP5: NA NA

LS & I*** ROP5: NA NA

Partner Care ROP5: NA NA

WOP6 ROP5: NA

LS & I*** ROP5: NA NA

Partner Care ROP5: NA NA

WOP6 ROP5: NA

Lump sum ROP5: NA NA

Total Rider Premium# 0

Total Annual Premium# 30,000

6
5
Premium Details

priyanka
29 years / Female Regular Income
Single Life Limited Pay

(`)
Summary

Sum Assured Premium#

Base Plan 3,78,000 30,000


(PPT 12 years / PT 17 years) ^

Total of all Riders^^ 0 0

Total Annual Premium 30,000

1st year Total Premium including 31,350


Goods and Services Tax

2nd year onwards Total Premium 30,675


including Goods and Services Tax

Sum Assured on Death at 3,78,000


policy inception

Total Guaranteed3 Benefit (Annually) 20,36,520

^ PPT = Premium Payment Term, PT = Policy Term


# Premium is excluding Goods and Service Tax and applicable Surcharge/Cess
Quote generated is based on age, gender, smoker/ non-smoker inputs given by prospect.
This is a sample illustration where options are selected by the prospect. There are various other
options available under this product.
3Terms and conditions apply
Commutation
Annual Income
Income Commuted Income Commuted
Pay-outs Value (`) Pay-outs Value (`)
Remaining Remaining
30 6,25,423 4 4,41,461
29 6,23,326 3 4,23,542
28 6,21,048 2 4,04,083
27 6,18,574 1 3,82,950
26 6,15,887
25 6,12,969
24 6,09,801
23 6,06,360
22 6,02,623
21 5,98,564
20 5,94,157
19 5,89,370
18 5,84,172
17 5,78,527
16 5,72,396
15 5,65,738
14 5,58,507
13 5,50,655
12 5,42,127
11 5,32,866
10 5,22,809
9 5,11,886
8 5,00,025
7 4,87,143
6 4,73,153
5 4,57,960
Benefits Available Under The Product

Flexibility Income Period Return Of Premium2 Add-on Riders^^


Choose between Choose income Get the return of Enhanced
regular income, period from 20 to premium at the protection
and regular 45 years end of the income through optional
income with in- period riders
built critical
illness benefit
Product Name:
Tata AIA Life Insurance Fortune Guarantee Plus
Individual, Non-Linked, Non-Participating, Life Insurance Savings Plan

UIN: 110N158V09

Product Disclaimer:
• This product is available for online sale. Please visit us at www.tataaia.com to buy this product
online.
• This product is underwritten by Tata AIA Life Insurance Company Ltd.
• Insurance cover is available under this product.
• Policies sourced through PoS Channel will not have any medical examination.
• This plan is not a guaranteed issuance plan and it will be subject to Company’s underwriting and
acceptance.
• Risk cover commences along with policy commencement for all lives, including minor lives.
• For more details on risk factors, terms and conditions please read sales brochure carefully before
concluding a sale. The precise terms and condition of this plan are specified in the Policy Contract.

1Income Tax bebefits may be available as per the Tax Laws, subject to fulfilment 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 bebefits available to you.

^^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. Tata AIA Life Insurance Non-
Linked Comprehensive Protection Rider (UIN: 110B033V02 or any later version). Tata AIA Life
Insurance Non-Linked Comprehensive Health Rider (UIN: 110B031V02 or any other later version).
These riders can be attached effective policy inception or any policy anniversary of the base plan
subject to the rider premium payment term and the policy term shall not be more than the
outstanding premium payment term and outstanding policy term for the base plan. Such attachments
will be as per the ‘Board approved underwriting policy’ (BAUP) of the Company. For policies
purchased from PoS channel, riders would not be available.

^^^Policy sold count from inception till 31st march 22.


2Return of Premium shall be the return of Total Premiums Paid (excluding loading for modal
premiums, discount, any extra premium, rider premium and taxes) by the policyholder and shall be
payable at the end of the Income Period irrespective of survival of
the life insured(s) during the Income Period.
3Guaranteed Annual Income shall be a fixed percentage of the Annualised Premium / Single
Premium (excluding discount) payable in a year.
4Express Claim Service
Applicable to only non-early claims more than 3 years of policy duration, non-investigation cases,
upto Sum assured of 50 lac.
• Applicable for branch walk in. Time limit to submit claim to Tata AIA by 2 pm (working days)
• Subject to submission of complete documents
• Not applicable to ULIP policies and open title claims.
5Under Tata AIA Life Insurance Non-Linked Comprehensive Protection Rider and Tata AIA Life
Insurance Non-Linked Comprehensive Health Rider an amount equal to the Total Premiums Paid
towards the respective benefit option (excluding loading for modal premiums), less any claim amount
already paid out under the respective benefit option, shall be payable at the end of the benefit option
term, provided the benefit option is not terminated.

Tata AIA Life Insurance Company Ltd.


(IRDA of India Regn No. 110) (CIN: U66010MH2000PLC128403)
Registered and Corporate Office: 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 more information,


Tata AIA Life Insurance Company Ltd
Visit us at: www.tataaia.com

L&C/Advt/2023/Feb/0357

BEWARE OF SPURIOUS IRDAI is not involved in activities like selling insurance


PHONE CALLS AND policies, announcing bonus or investment of premiums.
FICTIOUS / Public receiving such phone calls are requested to lodge a
FRAUDULENT OFFERS police complaint.

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