Traditional Plans

Tata AIA Life Insurance Smart Income Plus

A Non-Linked, Non-Participating, Endowment Assurance Plan

We, at Tata AIA Life, believe in protecting your dreams at various stages of life without compromising on your basic needs through financial 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 Insurance Smart Income Plus, a limited pay income plan that meets tomorrow's requirements along with protecting your loved ones and dreams as it ensures you of guaranteed returns* for the money invested.

Investment in this plan helps you fulfill your medium to long term goals such as Child’s Education/ Marriage / Business Start-up and Retirement planning.

Key Features

  • Flexibility to choose between Regular Income or Endowment options
  • Receive Guaranteed Payouts* ranging from 120% to 160% of the Annualised Premium
  • Pay for 7/10/12 years, get guaranteed life cover for 15/21/25 years
  • Enhance your protection with optional Riders1
  • Higher benefit for female lives
  • Receive tax benefits u/s 80C and 10(10D), as per the applicable Income Tax laws^

Product Details

Survival Benefit:

  • Option I: Regular Income
    Guaranteed Payouts* (GP) shall be payable annually up to maturity for policy terms 15 / 21 / 25 years in the ratio of 120%/ 140%/ 160% of the Annualised Premium (AP) respectively.
  • Opts for Option II: Endowment
    Guaranteed Payout* (GP) will be paid at the end of policy year preceding the year of Maturity which is 5.26 to 15.03 times of AP for Male lives and 5.36 to 15.04 times of the AP for female lives. The GP factors vary by the chosen premium payment term, age and gender.

Maturity Benefit:

  • Option I: Regular Income
    Guaranteed Maturity Payout* (GMP) will be paid as a lump sum at Maturity. The last instalment of GP will be paid along with the above mentioned Maturity Benefit. The GMP will be equal to GMP factor multiplied by Annualised Premium.
  • Option II: Endowment
    Guaranteed Maturity Payout* (GMP) will be paid at Maturity. The amount of benefit shall be equal to the Guaranteed Payout* paid under Option II.
  • Large Premium Boost
    An additional benefit will be payable on payment of higher premium. The Large Premium Boost will payable applicable on GMP only under option 1 and applicable to GMP and GP both under option 2.

Death Benefit:

  • For Option I & Option II:
    On death of the Life Assured during the policy term, provided the policy is in-force as on the date of death and all due premiums have been paid; Sum Assured on death shall be payable irrespective of the Survival Benefits already paid. “Sum Assured on death” shall be the highest of 11 times Annualised Premium or 105% of all the Premiums Paid,(excluding the underwriting extra premiums and modal loading), as on the date of death or minimum Guaranteed Sum Assured on Maturity or Absolute amount assured to be paid on death.

Plan OptionsOption I: Regular Income;
Option II: Endowment

The options can be chosen at the inception of the Policy

Plan ParametersMaximumMinimum
Age at Entry (years)#350
Age at Maturity (years)#18For PT 15: 65
For PT 21: 71
For PT 25: 75
Policy Term (PT) (years)15/21/25
Premium Payment Term (PPT) (years)7 for PT 15/ 10 for PT 21 /12 for PT 25
Basic Sum Assured11 times Annualised Premium
Premium (Rs.)
(Premium in multiples of 1000)
For Option I: 18,000
For Option II: 36,000
No Limit subject to Board approved underwriting policy
Premium Payment ModeAnnual/ Half-yearly / Quarterly/ Monthly

#All reference to age is as on last birthday.

*Guaranteed Returns are defined as Guaranteed Payout (GP)/ Guaranteed Maturity Payout (GMP) under both Plan Options. For Regular Income option, GP is 120% to 160% of the Annualised Premium (AP) and GMP is 46% to 405% of AP for male lives and 74% to 408% of AP for female lives. Please refer survival benefit factor under regular income option. For Endowment option, GP is 5.26 to 15.03 times of AP for Male lives and 5.36 to 15.04 times of AP for female lives and GMP is equal to GP, provided the policy is in-force and all due premiums have been paid. The GP/GMP factors under both the plan options will depend on premium payment term, age and gender of the Life Insured. This product is underwritten by Tata AIA Life Insurance Company Limited. For more details on risk factors, terms and conditions, please read sales brochure carefully before concluding a sale. Income Tax benefits would be available as per the prevailing income tax laws, subject to fulfilment of conditions stipulated therein. 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 benefit available to you. Premium is exclusive of applicable taxes, cesses and levies. All Premiums are subject to applicable taxes, cesses & levies which will entirely be borne by the Policyholder and will always be paid by the Policyholder along with the payment of Premium. If any imposition tax or otherwise) is levied by any statutory or administrative body under the Policy, Tata AIA Life Insurance Company Limited reserves the right to claim the same from the Policyholder. Alternatively, Tata AIA Life Insurance Company Limited has the right to deduct the amount from the benefits payable by Us under the Policy. Insurance cover is available under this product. Riders are not mandatory and are available for a nominal extra cost. For more details on benefits, premiums and exclusions under the Rider(s), please refer to the rider brochure or contact Tata AIA Life's insurance advisor/branch. Tata AIA Life Insurance Accidental Death and Dismemberment (Long Scale) (ADDL) Rider (UIN: 110B028V01) Tata AIA Life Insurance Waiver of Premium Plus (WOPP) Rider (UIN: 110B029V01). 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 all the premiums paid. This plan is not a guaranteed issuance plan and it will be subject to Company's underwriting and acceptance.

L&C/Advt/2017/Apr/101

Beware of Spurious Phone calls and Fictitious/Fraudulent offers. IRDA of India clarifies to public that:

  • IRDA of India or its officials do not involve in activities like sale of any kind of insurance or financial products nor invest premiums.
  • IRDA of India does not announce any bonus. Public receiving such phone calls are requested to lodge a police complaint along with details of phone call, number.

For any information including cancellation, claims and complaints, please contact our Insurance advisor or visit Tata AIA Life’s nearest branch office or call 1-860-266-9966 (local charges apply) or write to us at customercare@tataaia.com. Visit us at: www.tataaia.com or SMS 'LIFE’ to 58888.

Tata AIA Life Insurance Company Limited (IRDA of India Regn. No.110) CIN – U66010MH2000PLC128403

Registered & Corporate Office: 14th Floor, Tower A, Peninsula Business Park, Senapati Bapat Marg, Lower Parel, Mumbai – 400013

Disclaimer

DBS Bank India Limited (IRDA of India Registration Number: CA 0257) having the Registered office at GF: Nos. 11 & 12 & FF - Nos.110 to 115, Capitol Point BKS Marg, Connaught Place, Delhi - 110001 is the Composite Corporate Agent of Tata AIA Life Insurance Company Limited (IRDA of India Regn. No.110) CIN: U66010MH2000PLC128403 having the Registered office/principal place of business at 14th Floor, Tower A, Peninsula Business Park, Senapati Bapat Marg, Lower Parel, Mumbai - 400013, Aditya Birla Sun Life Insurance Company Limited (IRDA of India Regn.No.109) CIN: U99999MH2000PLC128110 having the Registered office address at One India bulls Centre, Tower 1, 16th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400013, Royal Sundaram General Insurance Company Limited (IRDA of India Regn.No.102) CIN: U67200TN2000PLC045611 having the Registered office address at No.21, Patullos Road, Chennai - 600002 and Bharti Axa General Insurance Company Ltd. having the Registered office address at First Floor Hosto Centre, No. 43, Millers Road, Vasanth Nagar, Bangalore - 560052. ISNP Registration valid.

DBS Bank India Limited does not underwrite the risk or act as an insurer. The Insurance products are offered and underwritten by respective insurance companies. The contract of insurance is between the insurer and the insured and not between the bank and the insured. Bank does not give any warranty, as to the accuracy and completeness of the policies. Bank does not accept any liability or losses attributable to your contract of Insurance. Customers are advised to take independent professional advice before participating. Insurance is a subject matter of solicitation.

For more details on risk factors, terms and conditions, exclusions, please read sales brochure of insurer and policy terms and conditions carefully before concluding a sale. Tax benefits are available as per the prevailing tax laws, which are subject to change. Participation by the Bank’s customers in the insurance products is purely on a voluntary basis.

For any information including cancellation, claims and complaints, please contact our Treasures Relationship Manager or visit DBS Bank India’s nearest branch office or Contact our 24-hour toll free customer service helpline number 1-800-209-4555 / 1-800-103-9897 or our overseas customer service number 91-44-66854555 or write to us at customercareindia@dbs.com. Visit us at: www.dbs.com/in

UIN: 110N126V03

Get In Touch

Call Us: 1800 209 4555

Get In Touch

Call Us: 1800 209 4555

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