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Unique Reference No - L&C/Advt/2011/May/005
IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER
Tata AIG Life Insurance Company Ltd. (Reg.110), Registered & Corporate Office : Delphi - B Wing, 2nd Floor. Orchard Avenue, Hiranandani Business Park, Powai, Mumbai 400 076 Visit us at www.tata-aig-life.com or call toll-free on 1800-11-9966 [For MTNL/BSNL subscribers only] Insurance is the subject matter of the solicitation.
1961 Eligibility Criterion: Minimum Issue Age Maximum Issue age Maximum Maturity age Policy Term Premium Paying Term Premium Mode Minimum Annualised Premium Maximum Annualised Premium 4 years 55 years for 20 year term. # Some benefits are guaranteed and some benefits are variable (Nonguaranteed) with returns based on the future performance of the opted funds and fulfillment of other applicable policy conditions. Monthly mode ` 50. from the Top-Up Fund Value or Top-Up Fund Value or (iii) 105 percent of the total Top-Up premiums paid net of all "Deductible Partial Withdrawals".484. 3 . And all we need is their fulfillment through a practical investment plan that addresses our needs without any compromise.000 30. 50 years for 25 year term. the nominee will get. Higher of . What are the benefits available under this plan? This non-participating Unit Linked Endowment Insurance Plan offers the following benefits: Maturity Benefit On survival to the end of the policy term. the needs keep getting bigger. or The Regular Premium Fund Value or (iii) 105 percent of the Total Regular Premiums paid net of all "Deductible Partial Withdrawals".000 for Semi-Annual. if any.798.187 3. is also payable provided the Policyholder has a Top-Up Fund Value.807. Premium Multiple Table Based on Age & Policy Term Age/Policy Term <45 Years >=45 Years 20 10 7 25 12. from the Top-Up Premium Fund Value.5 In case of unfortunate death of the insured while the policy is in force and before the maturity date. if any. the Deductible Partial Withdrawals mentioned above shall mean the higher of sum of all Partial Withdrawals paid from the relevant Fund(s) (i) during the 24 months immediately preceding insured's date of death.000 • Mode of payment: Annual • Premium Multiple: 10/15 Higher Rate Illustration Lower Rate (10%) Illustration (6%) Guaranteed Benefits Policy Annual Premium Basic Term** Regular Multiple Sum Premium Chosen Assured (`) (`) 20 30 30. To illustrate the above benefits lets have a look at the following Benefit Illustration# The table below gives the total maturity benefit^ for a healthy person aged 35 years • Fund Allocation: Large Cap Equity Fund: 50% & Whole Life Mid Cap Equity Fund: 50% • Annualised Regular Premium: ` 30. For the purpose of determining the Death Benefit.50.000 Basic Sum Assured = Premium Multiple x Annualized Premium. Higher of (i) (ii) The Basic Sum Assured net of all "Deductible Partial Withdrawals". if any.5 7 30 15 7. 45 years for 30 year term 75 years 20/25/30 years Same as policy term Annual/Semi Annual/Quarterly/Monthly ` 20. Tata AIG Life Lakshya Supreme . In addition to this. if any. or (ii) after Insured attains 60 years of age. 2 **Premium paying term equals policy term.08% 8.27% 928. (i) (ii) The approved Top-Up Sum Assured(s) net of all "Deductible Partial Withdrawals". from the Regular Premium Fund Value. Presenting.000 Non Guaranteed Benefits Total Maturity Benefit* (`) 1. With every passing phase.000 10 15 3.a non participating simplified issuance Unit Linked Endowment Insurance plan with enhanced features that provides you the dual benefit of investment and protection. Key features: • Simplified Issuance with dual benefit of investment & protection • 7 Investment Fund Options to suit your investment risk profile • Optimize your returns by investing through Systematic Money Allocation & Regular Transfer Investment (SMART) & Automatic Asset Allocation (AAA) • Avail tax benefits u/s 80C and 10 (10D) of Income Tax Act .000 4.372 1.153 Net Total Maturity Yield*** @ Benefit* 10% (`) 8.000 for Annual Mode ` 24.Death Benefit Each one of us desires the best from our life. you will receive the Total Fund Value which is equal to value of the Regular Premium Fund plus value of Top-Up Premium Fund (if applicable) valued at applicable unit price. Quarterly. from the Regular Premium Fund Value. the list of desires keep getting longer.00.151 Basic Sum Assured I.
wars. Additional premium is payable for this benefit. no life cover or other insurance cover will be provided. Flexibility of Premium Mode You may choose to pay your premiums1 Annually. and the minimum Top-Up Sum Assured allowed under this product as per ULIP guidelines respectively 4 Settlement Option Provided policyholder is alive on the maturity date. The value of such periodical payments will depend on the performance of the Funds selected for investment. Top-Up premiums are subject to charges as described under "What are my Premium and Policy Charges". may be extended up to a maximum of five years from the date of maturity. net of service tax. subject to underwriting rules. but also. civil unrest. riots etc the approval of the Company will be needed for Partial Withdrawal. We also offer ample flexibility to manage your money and policy so that you can reap maximum benefits of your investments.5/ or 5 times Single Top-Up Premium if you are below 45 years age and 1. Switching and Partial Withdrawals (other than the aforesaid periodical payments) are not available during the Settlement Period. Acceptance of Top-Up Premium is subject to prevailing underwriting rules. 000/-.0833 of Annualized Premium. The withdrawals from regular premium fund are allowed after five policy anniversaries from the date of issuance of your policy provided the policy is in force. The timing and amount of the installments will be chosen by you at the time of maturity while exercising this option. Fund Management Charges and Policy Administration Charge will be deducted as shown under "What are my Premium and Policy Charges” During the settlement period. However no regular Partial Withdrawals will be allowed. This period. Monthly Premium = 0. please refer to the Sales Illustration. Partial Withdrawals should be made first from the Top-Up Premium Fund and then from the Regular Premium Fund. this plan enables you to withdraw from your fund. Please contact our Insurance Advisor or visit our nearest branch office for further details.50 of Annualized Premium subject to minimum premium conditions for each mode Flexibility of Additional Coverage2 You have the option of availing additional protection by attaching the following rider to your basic policy: Tata AIG Life Accidental Death Benefit Limited Underwriting Rider (UIN 110A018V01): Provides for an additional benefit amount equivalent to the Sum Assured purchased for the issue ages 18 to 55.^ Service tax is applicable as per governing laws and the same shall be borne by the policyholder. Under exceptional circumstances like natural calamities. the inherent investment risk will be borne by the policyholder *Conditions apply. Rider Sum Assured cannot exceed the basic Sum Assured. subject to underwriting. III. During this period. For more details on the benefits. *Computation of Maturity Benefit excludes service tax. Partial Withdrawal from the Top-Up Premium Fund can be allowed only after 5 policy years from the date of approval/deposit of each such Top-Up Premium. Maximum of four (4) Partial Withdrawals are allowed in a policy year. please contact our Insurance advisor or visit our nearest branch office. Where is my money invested? This product offers you the flexibility to invest in a manner that suits your risk profile and individual needs a) You can choose from the 7 investment fund options 5 . For benefit values. Flexibility of Partial Withdrawals In case you need money for any emergency or otherwise.1/2. enjoy all the benefits offered under the innovative product design. you have an option to receive the maturity amount either in lump sum or in installments over a period of time. Every Top. Increase/decreaseinBasicSumAssured&BasicPremiumisnotallowed.25/ 2.Up Premium will have a lock in period of five years from the date of approval/ deposit of such Top-Up premiums.5/ or 5 times Single Top-Up Premium if your age is 45 and above. in case of death due to an accident before the insured reaches age 70 years. Partial Withdrawal is not allowed till insured attains age 18 years. The minimum Top-Up amount is ` 5.000 subject to Total Fund Value post such withdrawals is not less than an amount equivalent to one year's Annualised Regular Premium.25 of Annualized Premium. Semi-annual premium = 0. the Total Fund Value at the time of death will be returned to the Nominee. During Settlement Period.2 2 Rider is not mandatory and is available for a nominal extra cost. as imposed by the government from time to time. You shall be given an additional Sum Assured for every Top-Up Premium paid.Up Sum Assured You have the flexibility to pay additional premium as "Top-Up Premium" at any time during the policy term provided the policy is in force except for last five years of the policy. premiums and exclusions under this rider. termed as Settlement Period. You can Top-Up your policy up to four times in a policy year. any levies and duties (including service tax). Tata AIG Life Insurance Company Limited reserves the right to recover from the Policyholder. Flexibility to Increase/ Decrease the Top. In the unfortunate event of death. ***Computation of the net yield excludes mortality charges and service tax on charges as applicable. You have an option to increase or decrease the Top-Up Sum Assured by way of changing Top-Up premium multiple subject to underwriting. It is in your best interest to stay invested for the entire term. This will enable you to not only follow a disciplined savings approach. There are no charges on Partial Withdrawals. Quarterly Premium = 0. if amount in the Top-Up Premium Fund is insufficient. What flexibilities does my policy have?* This is a regular pay policy in which you can choose your policy term. Minimum Partial Withdrawal amount is ` 5. You can choose a multiple equal to 1. Semi-annually. Quarterly or even Monthly as per your convenience. Kindly refer to sales illustration for exact premium rate. 1 II.
40% Returns are subject to market conditions. one can initially park their entire annual allocable premium along with any existing units in any one fund (chosen out of the funds of Tata AIG Life Lakshya Supreme). Lotteries/Contests. Sugar. The fund will invest significant amount in equity and equity linked instruments specifically excluding companies predominantly dealing in Gambling. This fund is called the "Accumulation Fund". Leather. while the stock market remains volatile and unpredictable. Cash / Money Market InstrumentsUpto 40% Through SMART. This fund is called the "Target Fund". based on your preferred asset allocation. 3 Large Cap The primary investment objective of the Equity Fund Fund is to generate long .Medium 30-50%. Whole Life Income Fund The primary investment objective of the Fund is to generate income by investing in a range of debt and money market instruments of various maturities with a view to maximize the optimal balance between yield. all investments through this option are still subject to investment risks. Exceptional circumstances may include: a) Global financial or credit crisis. Debt and Cash/ Money Market Instruments 0%. Tobacco.Cash / Money Market InstrumentsUpto 50% Whole Life Stable Growth Fund Equities and Equity L o w t o linked Instruments . the average maturity of the Fund may be in the range of 1-3 years. b) Choose any of the PORTFOLIO STRATEGY from below: i) Systematic Money Allocation & Regular Transfer Investment (SMART) Systematic Money Allocation & Regular Transfer (SMART) Investment is a systematic transfer plan that allows a customer to enter the volatile equity market in a structured manner under the Regular Premium Fund Equities and Equity Medium linked Instruments . Super The primary investment objective of the Select fund is to provide income distribution Equity Fund over a period of medium to long term while at all times emphasizing the importance of capital appreciation. Cash / Money Market Instruments. Cash / Money Market Instruments Upto 20% Equities and Equity High linked Instruments60% to 100%. safety and liquidity. Thus. Under normal circumstances.term capital appreciation from a portfolio that is invested pre-dominantly in Large Cap Equity and Equity Linked Securities. TV etc) Hotels. However. The primary investment objective of the Fund is to provide stable returns by balancing the investment in Equities and Debt/ Money market instruments. Debt Instruments 20-50%. c) Political uncertainty d) Events like Political/ Communal disturbance which affects Indian economy and in turn impacts severely on Fixed Income/ Equity market. Entertainment (Films. 6 7 .OR b) Choose any of PORTFOLIO STRATEGY from below i) Systematic Money Allocation & Regular Transfer (SMART) Name of the Fund Whole Life Short-Term Fixed Income Fund Fund Objective The primary investment objective of the Fund is to generate stable returns by investing in fixed income securities having shorter maturity periods.60 to 100%. Fund Allocation Debt Instruments of duration less than 3 years. Cash/ Money Market Instruments Upto 40% Equity and Equity High Linked instruments 60% to 100%. Debt Instruments 50%-70%. The returns are expected to vary according to the risk profile 3. SMART Investment offers a systematic way of rupee cost averaging. Cash / Money Market InstrumentsUpto 40% Risk Profile Low ii) Automatic Asset Allocation (AAA) a) You can choose from a variety of funds Your allocable Regular Premium and Top. Whole Life Aggressive Growth Fund The primary investment objective of the Fund is to provide higher returns in long term by investing primarily in Equities along with Debt / Money market instruments. which shall continue to be borne by you.Ups (if any) is invested in one or more investment funds as per your required asset allocation.50 to High -80%. Name of the Fund Fund Objective Fund Allocation Risk Profile Under exceptional circumstances investment in Cash / Money Market Instruments in all above funds may go up to 100%. "Accumulation Fund" and "Target Fund" are not segregated funds offered under this product. b) War like situation. Banks and Financial Institutions. Thereafter a defined portion out of the Accumulation Fund will get transferred to another fund (chosen out of the funds of Tata AIG Life Lakshya Supreme) other then the Accumulation Fund on a monthly basis. Animal Produce. Equities and Equity High linked Instruments 80 to 100%. Liquor.Upto 70% Debt InstrumentsLow 60% to 100%. The company may add additional investment linked funds from time to time subject to prior approval from the IRDA. These are only names used to reflect the investment strategy under SMART. Whole Life The primary investment objective of the Mid Cap Fund is to generate long . These funds have different risk profiles based on different types of investments that are offered under these funds.term capital Equity Fund appreciation from a portfolio that is invested pre-dominantly in Mid Cap Equity and Mid Cap Equity linked securities. You have the option of choosing any or all of the 7 Funds or such funds which are available at the time of allocation.
. other than the Large Cap Equity Fund and Whole Life Income Fund. other than the Accumulation Fund and the Target Fund. You can discontinue this option any time during the term of the plan 2) Any amount remaining in Regular Premium Funds and Top-Up funds (if any)... would continue to remain invested in those funds • SMART Option will not be available during Discontinuance of Premium • SMART will not be available if "Automatic Asset Allocation" option is chosen A portion of total units available in the "Accumulation Fund" shall be switched automatically into the "Target Fund" in the following way: Monthly SMART Policy Month 1 Policy Month 2 . Policy Month 11 ½ of the units available at the beginning of Policy Month 11 Policy Month 12 Balance units available at the beginning of Policy Month 12 We may refuse request for SMART.50 51 .... Request to start the SMART should be received 30 days in advance of the policy anniversary.30 31 ... • SMART option is available only to the policies with the Annual Mode of payment • The automatic fund switches in the SMART option is available out of the 12 free switches • The policyholder will have the option to stop the SMART at any point of time.. You can opt for this option anytime which will automatically distribute your 8 1/ 7 of the units available at the beginning of Policy Month 6 1/12 of the units available at the beginning of Policy Month 1 1/11 of the units available at the beginning of Policy Month 2 investment into two funds with different risk profile and fund objectives...75 90% 85% 80% 75% 70% 65% 60% 55% 50% 45% 40% 35% 10% 15% 20% 25% 30% 35% 40% 45% 50% 55% 60% 65% ^ The Age band refers to the age at last birthday On approaching Maturity age.65 66 ..55 56 . Request to start the Automatic Asset Allocation should be received 30 days in advance of the policy anniversary..... minimum switch and minimum fund after switch etc..40 41 . Other rules for the asset allocation: 1) Automatic Asset Allocation can be availed at the option of the Policyholder... for normal switching option shall be as applicable during the SMART • Any amount remaining in regular premium funds. with the increase in age.... Every Policy Quarterly Anniversary. if Policyholder wishes to apply for Automatic Asset Allocation on Top-Up Premium account...... exercisable at policy inception or on any policy anniversary... For Top-Up premiums.... exercisable at policy Inception or on any policy anniversary. would continue to remain invested in those funds 3) Manual fund switching for Regular Premium Funds and Top-Up funds (if any) on which AAA is active is not allowed. The Automatic Asset Allocation can be chosen for both Regular Premium and Top-Up Premium accounts... the investments in the two funds will be rebalanced based on the current age as on the quarterly policy anniversary and the fund allocation percentage for that age band. ii Automatic Asset Allocation (AAA) Generally. to ensure capital protection so that short term market volatility at the time of Maturity does not impact the investments... or to cease offering SMART by giving 30 days written notice subject to prior clearance from the Insurance Regulatory and Development Authority... Policy Month 6 . Manual fund switching is however allowed on other available funds at applicable charges.. The fund allocation might get changed due to market ups & downs. our risk appetite decreases..... manual switching option will be available at applicable charges. Automatic Asset Allocation is a unique feature that takes care of your portfolio and changes its allocation as per your age in such a way that you reap maximum returns with adjustment to risk exposure of your portfolio. A separate service request would be required by Company..25 26 .35 36 .. Large Cap Equity Fund and Whole Life Income Fund are the two funds in which your investment will be distributed depending on your age. Age wise table is given below: Your Funds will be allocated in the following manner: Fund Allocation details at policy inception and during policy term Age Band^ Large Cap Equity Fund Whole Life Income Fund <=17 18 .The following are the notable features of SMART: • SMART can be availed at the option of the policy holder... • Manual fund switching for the funds (Accumulation and Target) on which SMART is active is not allowed. we will systematically transfer your investments from Large Cap Equity Fund to Whole Life Income Fund in 10 installments during the last 10 quarters of the policy term. 9 . Conditions regarding switch fee..70 71 .60 61 .45 46 ...
A total of 12 free switches are allowed in a policy year after which charges will be applicable on further switches as shown under "What are my Premium and Policy Charges?". and minimum fund after switch etc. or cease offering AAA by giving 30 days of written notice subject to prior clearance from IRDA. Unit Price of the next valuation date following the receipt date shall apply. the policy will remain inforce and all applicable charges as set out in section "What are my Premium and Policy Charges" will continue to be deducted. by us at or before 3:00 p. the revision to Policyholder's age will be effected on the annual anniversary of your policy following your birthday and not on your actual birthday 7) SMART will not be available if "Automatic Asset Allocation" option is chosen. However in case of outstation cheque's/outstation demand drafts.e. What if I want to discontinue paying premium? Discontinuance of Premiums In case the policyholder does not pay any premium due on the policy before the expiry of the grace period. the policy is deemed to be in force and the risk cover will continue. We may refuse request for AAA. where underwriting or any other approval of the Company is required (including auto-pay cases). of a business day at the place where these are receivable. of Units existing in the Unit Fund as on the valuation date The Net Asset Value (NAV) per Unit/Unit price will be determined and published daily in various financial newspapers and will also be available on www. How is the NAV calculated? The NAV per unit or Unit Price will be calculated as: Unit Price / Net Asset Value per unit = (Market/Fair Value of the investments held by the Unit Fund+ Expenses incurred in the purchase of the assets + Value of Current Assets + Accrued income net of fund management charges Current Liabilities and Provisions) / Total No. from the receipt of the notice: a) To revive the policy or b) Complete Withdrawal without any risk cover From the expiry of the grace period. the company will send a notice to the policyholder within 15 days from the date of expiry of the grace period. for normal switching option shall be as applicable under this plan 5) Automatic Asset Allocation is free of any charge. In case of Discontinuance of Premium within five years from Inception: If the Policyholder exercises option (b) or does not exercise any option within the 11 . In case of death during this period. whichever is later. In case of renewal premiums received via cash or a local cheque or a demand draft payable at par or the request for switching in Fund Value(s) is/are received by us after 3:00 pm of a business day. Switching may be restricted if any one of the portfolio strategies is chosen. All you have to do is multiply the number of Units you have with the published Unit Price to arrive at the value of your investments. units will be allocated on the date of realization or the day when the underwriting/approvals are completed. at the place where these are receivable. If the Policyholder exercises the option (a) i.m. In case of renewal premiums received via cash or a local cheque or a demand draft payable at par or the request for switching in Fund Value(s) is/are received 10 VI. to revive the policy. till the Policyholder exercises the option or till the expiry of above notice period whichever is earlier. 6) For all age-dependant features. minimum switch.Expenses incurred in the sale of the assets + Value of Current Assets + Accrued income net of fund management charges .tata-aig-life. Fund Management Charges and Policy Administration Charges will be deducted as due. within 30 days of the notice period. Credit/Debit of Units Premiums received. There is no Premium-Redirection charge. Units purchased by Regular Premium and TopUp Premium. Unit Price of the date of receipt shall apply. Premium Re-direction is not available if SMART or AAA option is chosen. Unit Price of the date on which these instruments are realized provided realization is on or before 3:00 pm. Complete Withdrawal or death of the Insured). the official website of Tata AIG Life. when the company is required to sell assets to redeem the units. Premium Re-direction Premium Re-direction facility helps you to allocate future premiums to a different fund or set of funds. the death benefit as mentioned under "Death Benefit" shall be payable immediately.Current Liabilities and Provisions) / Total No. Where notice is required (Partial Withdrawal. The policyholder is entitled to the following options. $ Please contact our Insurance Advisor or visit our nearest branch office for further details IV. Units being debited shall be valued by reference to their Unit Price as specified in the section "Which NAV is applicable?” Which NAV is applicable? In case of proposals. the NAV per unit/ Unit Price will be calculated as Unit Price / Net Asset Value per unit = (Market/Fair Value of the investments held by the Unit Fund .com. How can I manage my investments? $ Switching Between the Funds During the policy term. Conditions regarding switch fee. from the Total Fund Value. of Units existing in the Unit Fund as on the valuation date However. If the renewal premiums are received by us by way of an outstation cheque/ outstation demand draft. Please refer to the respective portfolio strategy for details. units will be allocated on the day the underwriting and the other approvals are completed. you may switch your investment or part of investment from one fund to another as per your outlook about the markets. after deducting the payable Regular Premium / Top-Up Premium Allocation Charge will be used to purchase Units at the Unit Price according to your instruction for allocation of Premium. net of payable Policy charges. will be deposited into the Regular Premium Fund and Top-Up Fund respectively. V.4) Manual fund switching is allowed on other available funds at applicable charges. During this period Mortality Charge. will be applicable In case of renewal premiums if you pay the premium in advance (including auto-pay cases) the units will be allocated on the due date of the premium.
5% of single Top-Up premium *Premium Year is determined by the number of complete 12-months period for which Regular Premium has actually been paid. the Total Fund Value as on the date of intimation shall be paid to you Lock-in period means the period of 5 consecutive years from the date of commencement of the policy. please refer to the Policy Document Revival of the Policy: If the premium remains unpaid at the end of the Grace period and the Policy has not been completely withdrawn for its Total Fund Value it can be revived.00% 1. (ii) production of Insured's current health certificate and/or other evidence of insurability satisfactory to us. if any.000 per annum. For further details on Discontinuance of Premiums. • After the Lock-in Period. excluding any period of Discontinuance of Premiums and unpaid for months. including interest computed at minimum interest rate of 3.20% 1. except in the case of death or upon the happening of any other contingency covered under the policy.e.5% p.10% 1. the proceeds of the ‘Discontinued Policy Fund’ shall be payable immediately.05 times Total Regular Premium paid) net of all Deductible Partial Withdrawals.5% p. 'The proceeds of the Discontinued Policy Fund'. Annualised Regular Premium Band (`) 20.50. from the Regular 13 .39. The proceeds of the 'Discontinued Policy Fund'.000 . the Total Fund Value shall be refunded. shall be paid to you only after completion of the lock-in period. No. Premium Year* 1 2-10 11th year onwards 12 Premium Allocation Charge (as a % of Regular Premium Amount) 3.0833 Annualized Premium * 0.00% 2.20% 1. What are my Premium and Policy Charges ? Premium Allocation Charge The Regular Premiums will be payable for the entire policy term as desired by you. The net Regular Premiums after deduction of charges are invested in Funds as per your choice.29.a. after addition of interest computed at an interest rate of minimum 3.00% 0.above notice period.35% per annum of the Fund Value Mortality Charge4 Insurance cover in each month for Regular Premium Account is the difference between: a) Maximum of (Basic Sum Assured or 1.25 Annualized Premium * 0.20% 1. the Total Fund Value after deduction of the Discontinuance Charge on the expiry of the notice period shall be credited to the 'Discontinued Policy Fund' maintained by the Company.80% 0. Top-Up Premium Allocation Charge: 1. Fund Management Charge (FMC): A Fund Management Charge will be charged for each fund on each valuation date at 1/365 of the following annual rates and will be applied on the total values of the investment funds as given below Sr. In case of Discontinuance of Premium after paying at least five consecutive years Premium: If the Policyholder exercises option (b) or does not exercise any option within the Notice Period as mentioned above.999 40. In case of death during this period. 1 2 3 4 5 6 7 Funds Large Cap Equity Fund Whole Life Mid-cap Equity Fund Super Select Equity Fund Whole Life Aggressive Growth Fund Whole Life Stable Growth Fund Whole Life Income Fund Whole Life Short Term Fixed Income Fund Fund Management Charge per annum 1. Tabulated below is the Monthly Policy Administration charge for the 1st policy year. If policy holder requests for Complete Withdrawal from the policy: • Within the Lock-in period.65% VIII. shall be refunded to you at the end of Lock-in period of five years from the inception of the policy. during which period the proceeds of the discontinued policies cannot be paid by the insurer.000 Monthly Policy Administration Charge (`) 75 95 125 The Modal Premium of the Policy is arrived at as below: If monthly paid If quarterly paid If semi-annually paid If annually paid Annualized Premium * 0. Policy Administration Charge: A Monthly Policy Administration Charge will be deducted by canceling Units at the Unit Price from the Fund Value of the policy and this charge will increase by 5% compound annually from next policy anniversary subject to Maximum of ` 6.a.00% # Fund Management Charges are subject to revision by Company with prior approval of IRDA but shall not exceed 1.999 30.000 .000 .5 Annualized Premium * 1 VII. What if I want to discontinue the policy? Complete Withdrawal You can exercise the option of Complete Withdrawal from the policy anytime during the policy term by intimating to the company. the Fund Value less applicable Discontinuance Charges as on the date of intimation shall be credited to the Discontinued Policy Fund as maintained by the Company. within stipulated time period subject to: (i) Policyholder's written application for revival. if required (iii) payment of all overdue Regular Premiums. the surrender value i.
based on the age of the Life Assured. Thereafter a charge of ` 100/.05 times Total Top-Up premium paid) net of all Deductible Partial Withdrawals.com Discontinuance Charge The policy holder can discontinue paying premium anytime during the policy term by intimating to the company. whether sane or insane. Semi-Annual or Quarterly Modes. within one year of date of issue of policy or date of commencement of risk. Fund Switching Charge There are 12 (twelve) free switches per policy year. Sample Age 25 35 45 55 Mortality Charges per ` 1. Partial Withdrawal Charge: There are no Partial Withdrawal Charges under this product. after addition of interest computed at an interest rate of minimum 3. Premium Re-direction Charge There is no Premium Re-direction Charge. a grace period of 30 days will be offered for policies on Annual. as on the date of intimation.000 Sum Assured 1.710 2.a. starting from the regular premium paid to date. For complete details of mortality charges visit us at www. This charge may also be deducted from either of the Accounts depending upon the Fund Sufficiency. It is automatically deducted every month from your Regular Premium Account and Top-Up Account where the life cover is applicable.000 Nil b) Top-Up Premium Fund Value of the policy. Such notice must be signed by the Policyholder and received directly by the Company within 15 days after you receive the Policy Document.per switch will be applicable. net of discontinuance charges shall be put in the 'Discontinued Policy Fund'. The following table shows discontinuance charge as percentage of Regular Premium Fund Value: Policy year Discontinuance charge for Annualised Premium up to ` 25. Other Plan Features Free Look Period You have the right to cancel the Policy by giving written notice to the Company and receive the premiums invested into the funds at Unit Price as at the date of cancellation along with the charges paid after deducting a) for proportionate Risk and Rider Premium (if any) for the period on cover and b) Stamp duty and medical examination costs which have been incurred for issuing the Policy. During this period your policy is considered to be in force with the risk cover as per the terms & conditions of the policy.tata-aig-life. Mortality charge is the amount of insurance cover for the month multiplied by the applicable Mortality Rate for the month.000 Lower of 5% of Annualised premium Lower of 2% of Annualised premium or 5% of Regular Premium Fund Value or 2% of Regular Premium Fund Value subject to maximum of ` 1. 4 The Mortality Charges will be guaranteed for the period of the policy term.153 4. Mortality Charge = 0 if the Insured Amount <= 0.533 There are no Discontinuance Charges applicable on the Top-Up Premium Fund Value. total fund value. This Charge may be revised as deemed appropriate by the Company subject to prior clearance from the IRDA but shall not exceed a maximum of ` 250/-. Backdating Backdating is not allowed in Tata AIG Life Lakshya Supreme Policy Loan Policy Loan is not allowed in Tata AIG Life Lakshya Supreme Exclusions In case of death due to suicide by the Insured. However when the request for discontinuance from the policy is within the lock-in period of 5 years from policy inception. Insurance Cover in each month for Top-Up Account is the difference between: a) Maximum of (Top-Up Sum Assured or 1. shall be paid to the policyholder only after completion of the lock-in period.000 Discontinuance charge for Annualised Premium above ` 25.000 subject to maximum of ` 2.500 subject to maximum of ` 4. Grace Period If you are unable to pay your Regular Premium on time.000 Lower of 15% of Annualised premium Lower of 4% of Annualised premium or or 15% of Regular Premium Fund 4% of Regular Premium Fund Value Value subject to maximum of ` 2. from the relevant TopUp Premium Fund Value And Policy year 5th year onwards + Discontinuance charge for Annualised Premium up to ` 25. if any. For Policies on monthly mode the grace period would be 15 days.5% p.000 subject to maximum of ` 6.Premium Fund Value And b) Regular Premium Fund Value of the policy.000 Lower of 10% of Annualised premium Lower of 3% of Annualised premium or or 10% of Regular Premium Fund 3% of Regular Premium Fund Value Value subject to maximum of ` 1.000 subject to maximum of ` 5. whichever 15 1 Lower of 20% of Annualised premium Lower of 6% of Annualised premium or or 20% of Regular Premium Fund 6% of Regular Premium Fund Value Value subject to maximum of ` 3.000 IX.911 13. The proceeds of the discontinued policy.000 Nil Discontinuance charge for Annualised Premium above ` 25. # The Company may alter all the above charges (except Mortality Charge and Premium Allocation Charges which are guaranteed throughout the term) by giving an advance notice of at least three months to the policyholder subject to the approval of IRDA and will have prospective effect.000 2 3 4 14 .
formed by Tata Sons and American International Group. No person shall allow or offer to allow. was inaccurate or false. Moreover. Tata AIG Life combines Tata's pre-eminent leadership position in India and AIG's global presence as one of the world's leading international insurance and financial services organization. 1961.tata-aiglife. life insurance proceeds enjoy tax benefits as per section 10 (10D) of the said Act. AIA is a leading international insurance franchise of AIG. Insurance Act. • 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. 2001. please refer to the respective rider contract. (AIA) holds 26% through an AIA Group company. except such rebate as may be allowed in accordance with the published prospectuses or tables of the insurer.A New Look At Life Tata AIG Life Insurance Company Limited (Tata AIG Life) is a joint venture company. unless the insurer shows that such statement was on a material matter or suppressed facts which it was material to disclose and that it was fraudulently made by the policy holder and that the policy holder knew at the time of making it that the statement was false or that it suppressed facts which it was material to disclose. 1938. providing various types of add-ons and options on basic life products to give consumers flexibility and choice.is later. 1938. and no policy shall be deemed to be called in question merely because the terms of the policy are adjusted on subsequent proof that the age of the life insured was incorrectly stated in the proposal. • 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. If any person fails to comply with sub regulation (1) above. 19615. our liability is limited to the Fund Value at the applicable Unit Price. as an inducement to any person to take out or renew or continue an insurance in respect of any kind of risk relating to lives or property in India. any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy. nor shall any person taking out or renewing or continuing a policy accept any rebate. or in any other document leading to the issue of the policy. Please consult your own tax consultant to know the tax benefit available to you. Tata AIG Life Insurance Company was licensed to operate in 16 5 India on February 12. • This product is underwritten by Tata AIG Life Insurance Company Ltd. Tata AIG Life . • Unit Linked Insurance products are different from Traditional Life Insurance products and are subject to risk factors.com. Insurance Act. • 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. 2001 and started operations on April 1. Tata AIG Life offers a broad array of life insurance coverage to both individuals and groups. he shall be liable to payment of a fine which may extend to rupees five hundred. or friend of the insured. Tata AIG Life does not assume the responsibility on tax implication mentioned anywhere in this document. their future prospects and returns. • Insurance is the subject matter of the solicitation. For exclusions on the rider benefits. 2. after the expiry of two years from the date on which it was effected be called in question by an insurer on the ground that statement made in the proposal or in any report of a medical officer. The precise terms and conditions of this plan are specified in the policy contract. • This brochure should be read along with the sales illustration. Tax benefits are available as per Income Tax Act. Section 45 No policy of life insurance effected before the commencement of this Act shall after the expiry of two years from the date of commencement of this Act and no policy of life insurance effected after the coming into force of the Insurance Act. Provided that nothing in this section shall prevent the insurer from calling for proof of age at any time if he is entitled to do so. its future prospects or returns. Ltd. Tax Benefits Premiums paid under this plan are eligible for tax benefits under section 80C of the Income Tax Act. 1938 shall. Tata Sons holds a majority stake (74%) in the company and American International Assurance Company. • Tata AIG Life Insurance Company Ltd is only the name of the Insurance Company and Tata AIG Life Lakshya Supreme is only the name of the Unit Linked Life Insurance Contract and does not in any way indicate the quality of the contract. Section 41 (Prohibition of Rebates) 1. DISCLAIMER: • Investments are subject to market risk. Past performance is not indicative of future results.Visit us at: www. either directly or indirectly. An early termination of the policy usually involves high costs and the surrender value payable may be less than the total premiums paid. (AIG).com or SMS 'LIFE' to 58888 17 . and are subject to modifications made thereto from time to time. • Buying a life insurance policy is a long-term commitment. • The brochure is not a contract of insurance. Inc. For complete details please contact our Insurance advisor or visit Tata AIG Life's nearest branch office or call our toll free number 1-800-11-9966 (facility available to MTNL and BSNL users) or write to us at customercare@tata-aig. Please know that the associated risks and the applicable charges from your insurance agent or the intermediary or the policy document. or referee.