Tata AIA Shubh Flexi Income Plan

Introducing the Tata AIA Shubh Flexi Income Plan, a customizable savings plan that adapts to your financial goals, whether ensuring steady income for daily needs or planning for a comfortable retirement. With built-in financial security and growth potential, this plan empowers you to plan with confidence, offering peace of mind for you and your loved ones.

1. Flexibility to choose from 3 plan options:
   1. Endowment
   2. Early Income
   3. Deferred Income
2. Choice of higher Cash Bonus1 (if declared) through deferment option
3. Cover Continuance Benefit to get:
   1. Waiver of Future Premiums
   2. Death Benefit
   3. Future benefit payouts also continue
4. Waiver of premium option to secure the future of your loved ones:
   1. Waiver of Future Premiums
   2. Life Cover continues
   3. Future benefit payouts also continue
5. Freedom to combine multiple plan options for tailored solutions
6. Flexibility to choose level of life cover2
7. Attractive discounts for:
   1. Family members of existing TATA AIA customers
   2. Our woman customers

Plan options:

1. Endowment: Secure a lumpsum payout on maturity
2. Early Income: Receive regular cash bonuses starting during premium payment term till the end of the policy term, along with Maturity Benefit
3. Deferred Income: Receive regular cash bonuses after the completion of the premium payment term till the end of the policy term, along with Maturity Benefit

Death Benefit:

In case of death of the Life Insured for an in-force policy (all due premiums have been paid), the Death Benefit shall be paid to the nominee, which is:

Sum Assured on Death plus:

1. Accrued Simple Reversionary Bonus (if any) plus
2. Interim Bonus (if any) plus
3. Terminal Bonus (if declared) plus
4. Sub-wallet Balance (if any)

Further, the Death Benefit shall be minimum 105% of Total Premiums paid (excluding modal loadings). The policy shall terminate on payment of the Death Benefit and no further benefits will be payable.

Basic Sum Assured on Death” is equal to the Death Benefit Multiple (DBM) × Annualised/ Single Premium.

“Sum Assured on Death” is defined as below:

For Limited/Regular Pay:

Highest of

1. 11 or 7 or 5 (as chosen) × Annualised Premium
2. Basic Sum Assured on Death.
   
   

For Single Pay:

Highest of

1. 1.25 × Single Premium
2. Basic Sum Assured on Death.

Sum Assured on Maturity” means an absolute amount of benefit which is guaranteed to become payable at the end of the policy term i.e. on maturity of the policy. It is equal to Maturity Benefit Multiple (MBM) × Total Premiums Payable. MBM varies with policy option and policy term.

Eligibility Criteria

Disclaimer

• Tata AIA Shubh Flexi Income Plan - Individual, Non-Linked, Participating, Life Insurance Savings Plan (UIN: 110N207V02)
• ¹Cash bonuses (if declared) may be opted to be paid out at the end of the chosen pay-out frequency or as premiums offset. Alternatively, the cash bonus (if declared) can be chosen to be accumulated and paid out on maturity, death or surrender. Cash bonuses are applicable for Early income and Deferred income option. Please refer Brochure for additional details
• The current loyalty addition rate on the Sub-wallet will be 5.25% compounding monthly. The loyalty addition rate shall be at which RBI absorbs liquidity which currently is the Standing Deposit Facility (SDF) rate. The current Standing Deposit Facility rate is 5.25% p.a. and the same shall be reviewed bi-monthly. The Company may in future change the reference rate from Standing Deposit Facility rate to some other index.
• Participation by customers for add on features shall be on voluntary basis. To avail Waiver of Premium Benefit, proposer and Life Insured should not be the same person and to avail Cover Continuance Benefit, proposer and Life Insured should be the same person
• ²Choose from 7x /11x annualized premium as life cover for age < 50 years and 11x/7x/5x annualized premium as life cover for age >= 50 years
• Income Tax benefits would be available as per the prevailing income tax laws, subject to fulfillment 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 benefits available to you.
• Rider is not mandatory and is available for a nominal extra cost. For more details on benefits, premiums, and exclusions under the Rider, please contact Tata AIA Life's Insurance Advisor/ branch.
• Tax benefits of up to ₹46,800 u/s 80C is calculated at highest tax slab rate of 31.20% (including cess excluding surcharge) on life insurance premium paid of ₹1,50,000. Tax benefits under the policy are subject to conditions laid under Section 80C, 80D,10(10D), 115BAC and other applicable provisions of the Income Tax Act,1961. Good and Service tax and Cess if any will be charged extra as per prevailing rates. The Tax-Free income is subject to conditions specified under section 10(10D) and other applicable provisions of the Income Tax Act,1961. Tax laws are subject to amendments made thereto from time to time. Please consult your tax advisor for details, before acting on above.
• 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. 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 benefits payable under the Policy.
• The risk factors of the bonuses projected under the product are not guaranteed.
• Past performance doesn't construe any indication of future bonuses.
• This product is subject to the overall performance of the insurer in terms of investments, management of expenses, mortality and lapses.
• 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.
• For more details on risk factors, terms and conditions please visit us at: tataaia.com

 

 

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 protected]. Visit us at: www.tataaia.com

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. DBS Bank India Limited (Bank) does not underwrite the risk or act as an insurer. The Insurance product 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.

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L&C/Advt/2025/Sep/3268

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