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Overview

Tata AIA Life Insurance Wealth Maxima Overview

A Non-Participating Unit Linked Whole of Life plan

UIN: 110L114V02

IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER

You have always aspired for the best in life. So should be your financial planning to provide you with the best. Tata AIA Life ensures that it offers you superlative investment avenues for all time to come. Presenting, Tata AIA Life Insurance Wealth Maxima, a Non-Participating Unit Linked Whole of Life plan that maximizes your long term financial security.

Investment in this plan can help you fulfill your medium to long term goals such as children's education, retirement planning and creating legacy for future generations.

This plan allows you to tap into force multipliers of the market to create a lasting legacy for your loved ones. So like other successes in your life enjoy another successful venture with Tata AIA Life Insurance Wealth Maxima.

Features

Tata AIA Life Insurance Wealth Maxima Features

  • Pay premiums once or for a limited period and get Insurance protection for your entire life
  • Regular Loyalty Additions are credited to the policy to boost your investments
  • Flexibility to choose from 11 Fund options for enhanced investment opportunities
  • Option to customize your plan with three additional unit deducting riders
  • Choice of Enhanced Systematic Money Allocation & Regular Transfer Investment Portfolio Strategy
  • Top-up facility to further augment your portfolio
  • Flexibility of Partial Withdrawals after five policy years to meet your financial needs
  • Tax benefits u/s 80C and 10 (10D) of the Income Tax Act, 1961

Eligibility

Tata AIA Life Insurance Wealth Maxima Eligibility

Minimum Issue Age (Age last birthday) 0 years (30 days)
Maximum Issue Age (Age last birthday) 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 Premium1 Single Pay – Rs. 5,00,000
Limited Pay – Rs. 2,50,000 per annum
Maximum Premium1 No Limit
Minimum/Maximum Basic Sum Assured2 For Single Pay
1.25 times the Single Premium
For Limited Pay
Higher of (10* AP) OR (0.5*Policy Term * AP) AP is Annualised Premium selected by the policyholder at the inception of the policy, excluding applicable taxes, cesses and levies or any other extra premium. (For the purpose of Basic Sum Assured, Policy Term = 70 minus Issue age)

 

1 Increase 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.

2 Increase 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.

Disclaimer

  • THE LINKED INSURANCE PRODUCTS DO NOT OFFER ANY LIQUIDITY DURING THE FIRST FIVE YEARS OF THE CONTRACT. THE POLICY HOLDER WILL NOT BE ABLE TO SURRENDER/ WITHDRAW THE MONIES INVESTED IN LINKED INSURANCE PRODUCTS COMPLETELY OR PARTIALLY TILL THE END OF THE FIFTH YEAR
  • This product is underwritten by Tata AIA Life Insurance Company Limited.
  • For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale.
  • 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.
  • Tax benefits and liabilities under the Policy are subject to prevailing tax laws. Tax laws and the benefits arising thereunder are subject to change. The Policyholder is advised to seek an opinion of tax advisor in relation to the tax benefits and liabilities applicable
  • Past performance is not indicative of future performance.
  • In case of sub-standard lives, extra premiums will be charged as per our underwriting guidelines
  • Insurance cover is available under this product.
  • Investments are subject to market risks.
  • 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 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.
  • 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
  • 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.
  • Riders are not mandatory and are available for a nominal extra cost. For more details on benefits, premiums and exclusions under the Rider(s), please contact Tata AIA Life's insurance advisor/ branch.
  • 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.
  • L&C/Advt/2017/Jun/191

INDUSIND Bank Limited (1749817) is the Corporate Agent of Tata AIA Life Insurance Company Limited and does not underwrite the risk or act as an insurer. INDUSIND Bank Limited, 2401, Gen. Thimmayya Rd., (Cantonment), Pune - 411001. 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.

Beware of Spurious Phone calls and Fictitious/Fraudulent offers:
IRDAI clarifies to public that

  • IRDAI or its officials do not involve in activities like sale of any kind of insurance or financial products nor invest premiums.
  • IRDAI does not announce any bonus. Public receiving such phone calls are requested to lodge a police complaint along with details of phone call, number.
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  • SAVINGS RATES

  • Daily balance upto Rs.10 Lakhs 4 %
  • Daily balance above Rs.10 Lakhs and upto Rs.1 Crore 5 %
  • Daily balance above Rs.1 Crore and upto Rs 10 Cr 5.5 %
  • Daily balance above Rs.10 Crore 6 %
  • DEPOSIT RATES

  • 1 year to 1 year 2 months 6.85 %
  • Indus Tax Saver Scheme - 5 years (upto Rs 1.5 lacs) 6.5 %
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