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Tata AIA Life Insurance Gold Income Plan
At a Glance
Tata AIA Life Insurance Gold Income Plan protects your loved ones and ensures guaranteed returns* for the money invested.
Guaranteed maturity benefit*
At the end of the policy term
Starting at 12% of the basic Sum Assured, for your choice of 10 or 15 years. Income can be higher with higher annual premium payments.
Use Income Boosters of 5% to 10% on Guaranteed Income*, based on premium amount, premium paying term and income term chosen.
Flexible payment and policy terms
Pay for 5/12 years for policy term of 12/15 years
With optional Riders^
u/s 80C and 10(10D), as per applicable income tax laws**
Features & Benefits
On death of the Life Assured during the policy term, provided the Policy is in force and all due premiums have been paid, the Sum Assured on Death as defined below shall be payable.
The ‘Sum Assured on Death’ shall be the highest of the following:
- Eleven (11) times of Annualised Premium
- 105% of all the premiums paid, (excluding the underwriting extra premiums and modal loading, if any), as on the date of death
- Guaranteed Sum Assured on Maturity
- Absolute amount assured to be paid on death
“Annualised Premium” shall be the premium payable in a year chosen by the Policyholder, excluding the underwriting extra premiums and loadings for modal premiums, if any. Applicable taxes, cesses & levies shall be collected separately over and above the policy premiums.
"Guaranteed Sum Assured on Maturity" shall be equal to 100% of the Basic Sum Assured plus the commuted value of all future Guaranteed Income payable during the Income Term, discounted at 7.5% p.a.
Absolute amount assured to be paid on death is the “Basic Sum Assured”. “Basic Sum Assured” shall be equal to the Annualised Premium x Basic Sum Assured Multiple.
The policy will terminate upon the death of the insured and no other benefit under the policy shall be payable. Post maturity, on the death of Life Insured the outstanding income payments as scheduled, shall be made to the Nominee /legal heir(s) of the Life Insured.
Note: If a claim is payable under this Policy, any amount of due premium/s will be deducted from the amount of death benefit payable to the Nominee/Legal heir.
|Minimum/Maximum Issue Age (Age last birthday)||5 Pay: 6 years – 65 years |
12 Pay: 3 years – 55 years
|Maximum Maturity Age||5 Pay: 6 years – 77 years |
12 Pay: 3 years – 70 years
|Policy Term/ Premium Payment Term|
|Pay Mode||Annual, Half-Yearly, Quarterly, Monthly|
|Minimum/Maximum Premium||Minimum: 5 Pay – Rs. 50,000, 12 Pay – Rs. 36,000 |
Maximum: No Limit, subject to Board approved underwriting guidelines
|Basic Sum Assured||"Basic Sum Assured" shall be equal to the Annualised Premium x Basic Sum Assured Multiple|
- *Guaranteed Returns are defined as Guaranteed Maturity Benefit equal to 100% of the Basic Sum Assured and ^Guaranteed Income is equal to 12% of Basic Sum Assured, shall commence from the end of year following Maturity which increases annually (compounding increase) by an Income Booster
- 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 product is underwritten by Tata AIA Life Insurance Company Ltd. This plan is not a guaranteed issuance plan and it will be subject to Company’s underwriting and acceptance.
- Insurance cover is available under this product.
- In case of non-standard lives and on submission of non-standard age proof, extra premiums will be charged as per our underwriting guidelines.
- For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale.
- ‘“All Premiums, Charges, 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, charges or interest. Tata AIA Life shall have the right to claim, deduct, adjust, recover the amount of any applicable tax or imposition, levied by any statutory or administrative body, from the benefits payable under the Policy”.
- 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.
- 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).
- DBS Bank India Limited (CA0257) is the Corporate Agent of Tata AIA Life Insurance Company Limited and does not underwrite the risk or act as an insurer. DBS Bank India Limited, Ground Floor, Express Towers, Nariman Point, Mumbai-400021. Participation by the Bank’s clients in the insurance products is purely on a voluntary basis. The contract of insurance is between Tata AIA Life and the insured and not between the bank and the insured.
- Tata AIA Life Insurance Company Limited (IRDAI Regn. No.110 – CIN: U66010MH2000PLC128403). Registered & 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 any information including cancellation, claims and complaints, please contact our Insurance Advisor / Intermediary or visit Tata AIA Life’s nearest branch office or call 1-860-266-9966 (local charges apply) or write to us at firstname.lastname@example.org. Visit us at: www.tataaia.com or SMS 'LIFE’ to 58888.
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.
DBS Bank India Limited (IRDA of India Registration Number: CA 0257) having the registered office at GF: Nos. 11 & 12, Capitol Point BKS Marg, Connaught Place, Delhi - 110001 is the 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. DBS Bank India Limited (Bank) does not underwrite the risk or act as an insurer. The Gold Income Plan with UIN: 110N131V01 is underwritten by Tata AIA Life Insurance Company Limited. 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. Participation by the Bank’s customers in the insurance products is purely on a voluntary basis and is not linked to availment of any other facility from the bank. ISNP registration valid.
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.
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 / 1-860-267-1234 or our overseas customer service number 91-44-66854555 or write to us at email@example.com. Visit us at: www.dbs.com/in