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Tata AIA Life Insurance Wealth Pro
IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER
At a Glance
Tata AIA Life Insurance Wealth Pro helps grow your money into wealth. You choose the duration of your investments as well as the premium payment term, to help fulfil long-term goals.
(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 and enjoy regular loyalty additions3 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, 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.
|Minimum / Maximum Issue Age (Age last birthday)||0 years (30 days) – 60 years|
|Maximum Maturity Age||75 years|
|Policy Term||15 to 40 years|
|Premium Paying Term||Single Pay |
Limited Pay – 5/7 and 10 years
Regular / Limited Pay – 15 and 20 years
|Pay Mode||Single, Annual, Semi-Annual, Quarterly, Monthly|
|Minimum / Maximum Premium1||Single Pay – Rs. 5,00,000, Limited Pay – Rs. 2,50,000 per annum |
Maximum – No Limit
|Minimum / Maximum Basic Sum Assured2||Minimum: |
For Single Pay: 1.25 times the Single Premium
For Limited / Regular Pay: Higher of (10* AP) OR (0.5*Policy Term * AP )
For Single Pay: 1.25 times the Single Premium
For Regular / Limited Pay:
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 any1Increase 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.
The charges under this plan are Premium Allocation Charge, Fund Management Charge, Policy Administration Charge, Fund Switching Charge, and 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.
- 3Loyalty Additions will be credited only if Policy is in-force and all due premiums have been paid. For Regular Pay, additional units @ 0.20% of units in each of the funds under Regular Premium Account will be credited (post deduction of applicable charges) to the respective funds every Policy Anniversary starting from eleventh (11th) Policy Anniversary till end of Policy Term. For Single Pay, additional units @ 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 sixth (6th) Policy Anniversary till end of Policy Term. Loyalty Additions are not payable on Top-up Premium Account.
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.
- Tata AIA Life Insurance Company Limited is only the name of the Insurance Company & Tata AIA Life Insurance Wealth Pro 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.
- 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. Past performance is not indicative of future performance.
- Applicable taxes, cesses & levies for Tata AIA Life Insurance Wealth Pro 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.
- 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).
- 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.
- 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, the from the benefits payable under the Policy”. Alternatively, Tata AIA Life Insurance Company Limited has the right to deduct the amount from the benefits payable by Us under the Policy.
- 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.
- 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. Kindly refer to the sales illustration for exact premium.
- 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 Pro with UIN: 110N111V03 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