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Tata AIA Life Insurance Wealth Maxima
IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER
At a Glance
Tata AIA Life Insurance Wealth Maxima maximizes your long term financial security.
(Linked insurance products do not offer any liquidity during the first five years of the contract. The policyholder will not be able to surrender / withdraw the monies invested in linked insurance products completely or partially till the end of the fifth year).
Benefit from investments
Choose from 11 funds options for enhanced investment opportunities and enjoy regular loyalty additions to boost your investments
Choice of strategies
Enhanced Systematic Money Allocation & Regular Transfer Investment Portfolio
Protect your loved ones and enhance your protection with three additional unit deducting riders*
As per Income Tax Act, 1961
Features & Benefits
In case of death of the life insured during the policy term and while the policy is in force, the Nominee / legal heir will get, Highest of:
- The Basic Sum Assured net of all “Deductible Partial Withdrawals”, if any, from the Regular / Single Premium Fund Value, or
- The Regular / Single Premium Fund Value of this Policy or
- 105 percent of the total Regular / Single Premiums paid up to the date of death
In addition to this: Highest of:
- The approved Top-up Sum Assured(s) or
- Top-up Premium Fund Value of this Policy or
- 105 percent of the total Top-up Premiums paid up to the date of death
is also payable provided the Policyholder has a Top-up Premium Fund Value. Deductible Partial Withdrawals are not applicable in case of Top-Up Sum Assured.
For purpose of determining the Death Benefit, the Deductible Partial Withdrawals mentioned above shall mean the Partial withdrawals made, (i) during the last two years immediately preceding the date of death of the Insured
On survival to the end of the policy term, you will receive the Total Fund Value which is sum of Regular/ Single Premium Fund Value and Top-Up Premium Fund Value valued at applicable NAV on the date of maturity.
As a reward for your loyalty, additional units at the rate of 0.20% of the units in each of the funds under the Regular Premium Account, 0.35% of units in each of the funds under the Single Premium Account, will be credited (post deduction of applicable charges) to the respective funds every policy anniversary starting from eleventh (11th) / (6th) Policy Anniversary respectively till the end of the policy term. The Loyalty Additions will be credited only if the policy is in force and all due premiums till date have been paid. Loyalty Additions are not payable on Top-up Premium Account.
|Minimum / Maximum Issue Age (Age last birthday)||0 years (30 days) – 60 years|
|Maximum Maturity Age||100 years|
|Policy Term||100 minus Issue age|
|Premium Paying Term||Single Pay|
Limited Pay – 7/8/9/10/15 and 20 years
|Pay Mode||Single, Annual, Semi-Annual, Quarterly, Monthly|
|Minimum / Maximum Premium1||Minimum – Single Pay – Rs. 5,00,000, Limited Pay – Rs. 2,50,000 p.a. |
Maximum – No Limit
|Minimum / Maximum Basic Sum Assured2||Single Pay – 1.25 times the Single Premium |
Limited Pay – Higher of (10* AP) OR (0.5*Policy Term * AP )
(For the purpose of Basic Sum Assured, Policy Term = 70 minus Issue age)
AP refers to Annualized Premium.1Increase or decrease in Premium is not allowed under this plan. If Premium is the starting point, Premium should be chosen to be a multiple of Rs. 1000.
2Increase or decrease in Basic Sum Assured is not allowed under this plan. If Basic Sum Assured is the starting point, Basic Sum Assured should be next higher multiple of Rs. 1000. AP is Annualized Premium selected by the policyholder at the inception of the policy and it means the premium amount payable in a year excluding the taxes, rider premiums and underwriting extra premiums on riders, if any
Policy Charges: The charges under this plan are Premium Allocation Charge, Fund Management Charge, Policy Administration Charge, Fund Switching Charge, Discontinuance Charge & Mortality Charge. For more details on charges please refer the sales brochure.
- *Riders are not mandatory and are available for a nominal extra cost. For more details on benefits, premium charges and exclusions under the Rider(s), please contact Tata AIA Life's Insurance Advisor/ Intermediary/ Branch.
- ^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 on this site. Please consult your own tax consultant to know the tax benefits available to you.
- The fund is managed by Tata AIA Life Insurance Company Ltd. (hereinafter the “Company”).
- Investments are subject to market risks. The Company does not guarantee any assured returns. The investment income and price may go down as well as up depending on several factors influencing the market.
- Unit Linked Life Insurance products are different from the traditional insurance products and are subject to the risk factors. Please know the associated risks and the applicable charges, from your Insurance agent or the Intermediary or policy document issued by the insurance company.
- The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these plans, their future prospects and returns. The underlying Fund’s NAV will be affected by interest rates and the performance of the underlying stocks.
- Past performance is not indicative of future performance. Returns are calculated on an absolute basis for a period of less than (or equal to) a year, with reinvestment of dividends (if any).
- The performance of the managed portfolios and funds is not guaranteed and the value may increase or decrease in accordance with the future experience of the managed portfolios and funds. Past performance is not indicative of future performance.
- Applicable taxes, cesses & levies for Tata AIA Life Insurance Wealth Maxima is included in Annual Premium (Taxes, cesses & levies are applicable on policy charges).
- The Premium paid in the Unit Linked Life Insurance Policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the Insured is responsible for his/her decisions.
- 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.
- Please know the associated risks and the applicable charges, from your Insurance agent or the Intermediary or policy document issued by the insurance company.
- Please make your own independent decision after consulting your financial or other professional advisor.
- 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 total premiums paid.
- This content is not a contract of insurance. This content should be read along with sales Illustration and brochure. The precise terms and conditions of this plan are specified in the policy contract available on Tata AIA Life website.
- Tata AIA Life Insurance Company Ltd. is only the name of the Insurance Company and Tata AIA Life Insurance Wealth Maxima is only the name of the Unit Linked Life Insurance Contract and does not in any way indicate the quality of the contract, its future prospects or returns.
- 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.
- Participation by customers shall be on voluntary basis.
- This product will be offered only to Standard lives.
- 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 firstname.lastname@example.org. 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 Wealth Maxima with UIN: 110N114V03 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