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Tata AIA Life Insurance Smart Income Plus
At a Glance
In addition to offering guaranteed returns* for the money you invest, this limited pay income plan helps you plan for the future while protecting your loved ones.
Flexible plan and terms
Choose between regular income or endowment options. Pay for 7/10/12 years, get guaranteed* life cover for 15/21/25 years
Enhance your protection
With optional Riders1
Ranging from 120% to 160% of the Annualized Premium under Regular Income Option based upon premium payment term chosen
Higher benefit for female lives
as per the applicable Income Tax laws
Features & Benefits
- Option I: Regular Income
Guaranteed Payouts* (GP) shall be payable annually from the end of policy year 9/12/14 for policy terms 15 / 21 / 25 years in the ratio of 120%/ 140%/ 160% of the Annualized Premium (AP) respectively and shall be payable till Maturity.
- 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.
- 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 Maturity Benefit. The GMP will be equal to GMP factor multiplied by Annualized 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 to GMP only under option 1 and applicable to GMP and GP both under option 2.
- 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; 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 Annualized Premium or 105% of the total Premiums Paid up to the date of death or minimum Guaranteed Sum Assured on Maturity or Absolute amount assured to be paid on death.
“Minimum Guaranteed Sum Assured on Maturity” refers to the absolute amount of benefit which is guaranteed to become payable on Maturity of the Policy. Minimum Guaranteed Sum Assured on Maturity is equal to 'Guaranteed Maturity Payout (GMP)' for Option II and 'Guaranteed Maturity Payout (GMP)' plus final Guaranteed Payout (GP) in case of Option I.
“Annualized premium” shall be the premium amount payable in a year chosen by the Policyholder, excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any.
"Total Premiums paid " means total of all the premiums received, excluding any extra premium, any rider premium and taxes.
Applicable taxes, cesses and levies shall be collected separately over and above the Policy premiums.
Absolute amount assured to be paid on death is the Basic Sum Assured.
The Policy will terminate upon the death of the Insured and no other benefit under the Policy shall be payable.
Option I: Regular Income;
|Age at Entry (years)#||3 for PPT 7 |
0 (30 days) for PPT 10 and 12
|Age at Maturity (years)#||18||For 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 Assured||11 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 Mode||Annual/ 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 Annualized Premium (AP) and GMP is 46% to 405% of AP for male lives and 74% to 408% of AP for female lives. For Regular Income option, the GP factors vary by the chosen premium paying term and are independent of age and gender. For Regular Income option, GMP factors will depend on premium payment term, age and gender of the Life Insured. 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 Endowment option will depend on premium payment term, age and gender of the Life Insured.
- This product is underwritten by Tata AIA Life Insurance Company Limited.
- ^Income Tax benefits would be available as per the prevailing income 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 benefit available to you.
- 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.
- 1Riders 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: 110B028V03) Tata AIA Life Insurance Waiver of Premium Plus (WOPP) Rider (UIN: 110B029V02).
- 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.
- For more details on risk factors, terms and conditions, please read sales brochure carefully before concluding a sale.
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 email@example.com. Visit us at: www.tataaia.com or SMS 'LIFE’ to 58888.
|Beware of Spurious / Fraud Phone calls!|
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.
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 Tata AIA Life Insurance Smart Income Plus with UIN: 110N126V04 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 firstname.lastname@example.org. Visit us at: www.dbs.com/in