Non Participating Unit Linked Whole of Life Plan
IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER
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.
Ensuring financial security of your near and dear ones is one of the primary objectives of life. Tata AIA Life Insurance Fortune Maxima, a Non-Participating Unit Linked Whole of Life Plan that allows you to fulfil this critical life need with a greater degree of efficiency.
This plan allows you to maximize your whole life protection corpus with the power of market driven growth. Investment in this plan can help you fulfil your medium to long term goals such as children's education, retirement planning and creating legacy for future generations.
Tata AIA Life Insurance Fortune Maxima, protecting your dreams over a life time.
|Minimum Issue Age (age last birthday)||0 years (30 days)|
|Maximum Issue Age (age last birthday)||60 years|
|Maximum Age at Maturity (age last birthday)||100 years|
|Policy Term||100 minus Issue age|
|Premium Payment Period||Single Pay
Limited Pay –7/8/9/10 /15/20 years
|Change in Premium payment term||The Policyholder will not be allowed to change the premium paying term of the policy opted at the outset|
|Minimum Premium1||Single Pay – ` 1,00,000
Limited Pay – ` 50,000p.a.
|Maximum Premium1||Single Pay – ` 5,00,000
Limited Pay – ` 5,00,000 p.a.
|Increase /Decrease in Basic Premium||Not Allowed|
|Change in Premium Mode||Policyholder is allowed to change the frequency of regular premium payments by written request anytime when policy is in force, subject to our minimum premium requirements and approval and provided the policy is inforce, unless Enhanced SMART is active where annual mode is compulsory
Premiums payable monthly shall be paid by auto-deduction through a bank, unless we agree otherwise in writing.
|If Sum Assured is the starting point||Basic Sum Assured should be next higher multiple of Rs.1000.
Annualised Premium =Basic Sum Assured/Premium Multiple and Premium to be taken to the nearest rupee.
|If Premium is the starting point||Premium should be chosen to be a multiple of `1000.
Sum Assured=Annualised Premium*Premium Multiple
1 Premium is exclusive of applicable taxes, cesses & levies. Goods and Services Tax, applicable surcharges and cess as per applicable rates will be deducted by way of cancellation of units from Fund Value.
|Sum Assured Provisions:|
|Minimum Basic Sum Assured||For Single Pay –
1.25 times the Single Premium
For Limited Pay –
Higher of (10*AP or 0.5*PT*AP)
(For the purpose of Basic sum assured, PT = 70 - Issue age)
AP - Annualised Premium selected by the policyholder at the inception of the policy, excluding the service tax or any other extra premium.
PT – Policy Term
|Maximum Basic Sum Assured||Same as Minimum Basic Sum Assured|
Tata AIA Life Insurance Company Ltd. (IRDA of India Regn. No.110) CIN No. 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.
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