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P R E S E N T I N G

Tata AIA Life Insurance Company Limited (IRDAI Regn. No.110)

CIN: U66010MH2000PLC128403.
14th Floor, Tower A, Peninsula Business Park, Senapati Bapat Marg,
Lower Parel, Mumbai - 400013. Trade logo displayed above belongs to Individual, Non-Linked, Non-participating, Life Insurance Savings Plan
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
1-860-266-9966
(local charges apply) or write to us at [email protected].
Visit us at: www.tataaia.com.
Unique Reference Number: L&C/Advt/2023/Feb/0494 • UIN: 110N163V02
Tata AIA Fortune Guarantee Supreme PPT PT GII as a % GII Years of GI years of
of Annualized Payment payment
Individual, Non-Linked, Non-participating, Life Insurance Premium (in advance) (in arrears)
Savings Plan 6 12 15% 2nd year till 7th year till
7th year 12th year
Every individual has their own aspirations in life. Buying that
7 14 20% 2nd year till 8th year till
dream home, providing your children the education they
8th year 14th year
deserve or taking your family for a dream vacation. To achieve
these aspirations during your lifetime, you need a plan that will 8 16 20% 2nd year till 9th year till
deliver without fail. 9th year 16th year
Presenting, Tata AIA Fortune Guarantee Supreme, a life 9 18 20% 2nd year till 10th year till
insurance savings plan that allows you to convert these 10th year 18th year
aspirations into reality by providing guaranteed returns and life 10 20 25% 2nd year till 11th year till
cover throughout policy tenure. 11th year 20th year
Based on the nature and time horizon of your aspirations, you
11 22 25% 2nd year till 12th year till
have the freedom to take your benefits either as regular income 12th year 22nd year
or as a lump sum.
12 24 25% 2nd year till 13th year till
Key Features 13th year 24th year
• Flexibility to choose guaranteed benefits in the form of The plan offers Death Benefit during the entire policy term.
lump sum and/or income to meet your financial goals Please read Death Benefit section for complete details.
• Grow your income by choosing sub wallet feature & 2. My Income
withdraw as and when required Under this plan option, you will receive guaranteed benefits in
• Women Special discount - 2% on First Year’s Premium the form of survival benefits and/or a lump sum maturity benefit,
specially for women customers subject to payment of all due premiums.
• “Premium Offset” feature to offset your premium against You need to choose the below details at the policy inception:
survival benefit payouts i. Policy Term
• Enjoy tax benefits on premiums and benefits, as per ii. Premium payment term and mode of premium
applicable Tax Laws payment
iii. Survival Benefits details i.e. benefits paid during the
Plan options: policy term#
1. Immediate Income
• Survival Benefit Payout Year(s) – the policy years in
2. My Income which the survival benefit shall be payable. The survival
benefit can be taken annually, half-yearly, quarterly or
How do the plan options work? monthly in arrears.
1. Immediate Income • Amount of Survival Benefit payable in each year.

Under this plan option, you will receive a Guaranteed

Immediate Income (GII) in advance from 2nd year as given in iv. Maturity Benefit i.e. benefit payable at the end of the
the table below, subject to payment of all due premiums. The policy term
frequency of GII will be same as premium payment frequency. v. Death Benefit i.e. benefit payable in case of death
during policy term
Additionally, during the policy term you will also receive a
Guaranteed Income (GI) in arrears as per table given a. For Single Pay policies and Single Life, choose Death
below. The frequency of GI can be different from GII and Benefit Multiple:
hence can be Annual, Semi-annual, Quarterly or Monthly, as • 10 times Single Premium (10x) or
chosen by the you. • 1.25 times Single Premium (1.25x)
PPT PT GII as a % GII Years of GI years of b. For Single Pay and Joint Life, Death Benefit Multiple will
of Annualized Payment payment be 1.25x on First death and 10x on Second death.
Premium (in advance) (in arrears) c. For Limited Pay and Regular Pay, Death Benefit
5 10 10% 2nd year till 6th year till Multiple is 10x.
6th year 10th year

1 2
Illustrations • Total Premium payable – R 1,27,250 for 12 years =
Option 1: Immediate Income Option R 15,27,000
Preet is 40 years old and wishes to earn a second income from • Total benefits payable during policy term – R 50,00,000
age 54 as he approaches retirement. He also wants a source of Lumpsum r 50 Lakhs
income during his earning years that can take care of his day to Age 25 years
day expenses.
He chooses Immediate Income option as it meets both his Age 50 years
needs. He decides to pay premium of R 1 Lakh p.a. for 12 years
with policy term of 24 years. Premium R 1,27,250 for 12 years
He will receive R 25,000 of Guaranteed Immediate Income for 12 0 1 2 11 25
years, starting from the beginning of 2nd year and Guaranteed Policy Years
Income of R 1,48,220 every year thereafter till maturity, subject Premium will vary depending upon the option chosen.
to payment of all due premiums.
• Total Premium payable: R 1,00,000 for 12 years Eligibility Criteria
= R 12,00,000
Plan
• Guaranteed Immediate Income: R 25,000 p.a. Parameters
Minimum Maximum
• Guaranteed Income: R 1,48,220 p.a.
• Total benefits payable during Policy term: R 20,78,640 Age at
30 days 65 years
Entry1
Guaranteed immediate Income Guaranteed Income Age at
for 12 years: R 25,000 for 12 years: R 1,48,220 18 years 100 years
Maturity1
Age 40 years Premium For Option 1: 5 years For Option 1: 12 years
Payment For Option 2: For Option 2:
Term (PPT) Regular/Limited pay -
Age 64 years Single Pay – 1 year
Regular/Limited pay – 5 30 years
Premium R 1 Lakh for 12 years years
0 1 2 11 12 13 14 24 Policy Term For Option 1: 10 years For Option 1: 24 years
Policy Years (PT) For Option 2: For Option 2:
Option 2: My Income Option Single Pay – 5 years Single Pay – 60 years
Example 1: Anuj is 35 years of age and has a son. He wishes Regular Pay – Equal to Regular Pay – Equal to
to invest in an income plan that can support a fixed amount PPT PPT
towards the expenses related to his son. He wants to pay Limited Pay – PPT + 1 Limited Pay – 60 years
premium of R 1,00,000 for next 5 years and wants an annual Single Pay
income for next 25 years. Single Life
• Total Premium payable – R 1,00,000 for 5 years
Death Sum
= R 5,00,000 Benefit Assured
• Total Benefits payable during Policy term – R10,68,075 Multiple (r)
Maturity Benefit of R 5,00,000 No Limit, subject to the
10 50,000
Basic Sum Board Approved
Guaranteed Income of R 22,723 payable for 25 years Assured 1.25 6,250 Underwriting Policy
Age 35 years (BAUP)
Joint Life (Death
Benefit Multiple 10):
1st Death - R 6,250
Age 60 years 2nd Death – R 50,000
Premium Regular/Limited pay:
R 1 Lakh for R 2,40,000
5 years Premium (R) Single Pay – R 5,000 No Limit, subject to the
0 1 2 4 25 (excluding Limited Pay /Regular Board Approved
Policy Years discount) Pay – R 24,000 p.a. Underwriting Policy
(BAUP)
Example 2: Mrinal is a 25-year old professional and wants to
invest in a plan that will generate a corpus for buying his dream Premium
house. She wants R 50 Lakhs in one payout when he is 50-years Payment Annual / Half-yearly / Quarterly / Monthly
of age and decides to pay premium for 12 years. Mode

3 4
 Plan Premium
Minimum Maximum
Parameters Payment Annual / Half-yearly / Quarterly / Monthly
Income/ Mode
10 times of Total
Survival R 1,000 per annum premiums payable
Benefit, if Income/ 10 times of Total
during entire policy term Survival
chosen (R) R 1,000 per annum premiums payable
Benefit, if during entire policy term
Income/ chosen (R)
Survival Annual / Half-yearly / Quarterly / Monthly
Benefit Income/
frequency Survival Annual / Half-yearly / Quarterly / Monthly
Benefit
In case of joint life policy, age limits apply to both lives frequency
Any reference to Age is as on last birthday
1
In case of joint life policy, age limits apply to both lives
Eligibility Criteria for POS Any reference to Age is as on last birthday
1

No Medical examination shall be required under POS variant of

Plan the product.
Minimum Maximum
Parameters
Options applicable under My Income for the POS variant:
Age at
30 days 55 years Under POS, you can opt for Endowment or Income Plan:
Entry1
a. Endowment – You will receive a lump sum at policy
Age at
18 years 65 years maturity, as chosen at inception. You will also have a Death
Maturity1
Benefit for the entire policy term.
Premium For Option 1: 5 years For Option 1: 10 years b. Income Plan: You will receive income/survival benefit basis
Payment For Option 2: For Option 2: the below criteria chosen at inception:
Term (PPT) Regular Pay: 20 years
Single Pay: 1 year • The policy year from which income/survival benefit will
Regular/Limited Pay: 5 Limited pay: 19 years
commence
years
• The amount of survival benefit payable every year
Policy Term For Option 1: 10 years For Option 1: 20 years
(PT) For Option 2: For Option 2: • The survival benefit can be level or increasing (the
Single Pay: 5 years Single Pay: 20 years
increase will be on simple basis, in the range of 3% to
10% p.a.)
Regular pay: Equal to Regular pay: Equal to
PPT PPT • Lumpsum benefit on Maturity, if chosen.
Limited Pay: PPT+1 Limited Pay: 20 years
Benefit in Details
Single Pay
Single Life 1. Death Benefit: In case of death of the life insured/s during
the policy term for an in-force policy (all due premiums have
Death been paid), the death benefit payable is highest of the
Benefit 10 1.25 following:
Multiple
Corresponding to a • 1.25 x Single Premium (excluding discount) or 10 x
Sum Annualised Premium (excluding discount);
Basic Sum Assured 50,000 6,250 maximum Death Benefit
Assured (r) of e 25 lakhs • 105% of Total Premiums Paid (excluding loading for
modal premiums and discount) up to date of death; or
Joint Life (Death
Benefit Multiple 10): • Basic Sum Assured
1st Death - R 6,250 Where; “Basic Sum Assured” shall be equal to the Death
2nd Death – R 50,000 Benefit Multiple (DBM) multiplied by the Annualised
Regular/Limited pay: Premium / Single Premium (excluding discount). The Death
R 2,40,000 Benefit Multiple is set as:
• Single Pay:
Premium (R) Single Pay – R 5,000 Corresponding to a
(excluding Limited Pay /Regular maximum Death Benefit - Single Life – 10 or 1.25 as chosen by the
discount) Pay – R 24,000 p.a. of r 25 lakhs policyholder at inception
- Joint Life –1.25 in case of First death and 10 in
case of Second death
5 6
 • Limited and Regular Pay: 10 b. For Limited Pay policies, maximum survival benefit during
For single life policies and in case of Second Death for joint life the premium payment term can be 50% of Total Premiums
Paid (excluding loading for modal premiums and discount)
policies, the death benefit shall be subject to a minimum of the till the date of the payout. For Regular Pay policies, this
Surrender Value as on the date of death. 50% limit is applicable till policy term less 1 year.
For single life policies, the policy will terminate after payment of c. Survival benefits during the policy term can be level or variable.
death benefit and no other benefits shall be payable. 3. Maturity Benefit as chosen under My Income option is
For joint life policies, the policy will continue after First Death payable on survival of Life Assured or at least one of
and the income/survival benefit will be paid to the surviving life, the life assureds in case of Joint Life, till the end of
however, the policy will terminate after payment of death policy term, provided all due premiums under the
benefit upon the Second Death and no other benefits shall policy have been paid.
be payable. Maturity benefit is not applicable for Immediate Income option.
Recoveries from Death Benefit
Additional features
• In case of death of the life insured during the Grace Period
i. Settlement option
the death benefit shall be paid after deductions of the
unpaid premium. This is an option to receive any benefit due on maturity date in
equal instalments for a period of 3 to 5 years instead of lump
• In case of non-annual mode of premium payment, death sum amount under an in-force as well as Paid-up policy.
benefit shall be paid after deduction of the balance
premium for the policy year of death, if any. a. This option can be exercised for full or part of the
benefit payable under the policy on the maturity date.
“Total Premiums Paid” means total of all the premiums
b. The instalments shall be paid in advance at yearly or
received, excluding any extra premium, any rider premium and
half-yearly or quarterly or monthly intervals, as opted for.
taxes.
c. The instalments shall be derived such that the present
“Annualised Premium” shall be the premium payable in a year value of these instalments at 5-year G-sec yield on 31st
under a non-single pay option chosen by the policyholder, March preceding maturity less 50bps is equal to the
excluding the taxes, rider premiums, underwriting extra maturity proceeds chosen to be converted into settlement.
premiums, loading for modal premiums, if any.
d. The first instalment shall be paid on Maturity date and
“Single Premium” shall be the premium payable under a next as per the chosen frequency in b)
single pay option chosen by the policyholder, excluding the e. In case of death of the insured(s) during settlement
taxes, rider premiums, underwriting extra premiums, if any. period, the remaining instalments shall remain payable
2. Survival Benefits are payable on survival of life insured to the nominee/legal heir(s).
during the policy term. f. This option shall be exercised by Policyholder atleast 3
Immediate Income: Provided the policy is in force and all due months before the due date of maturity.
premiums have been paid, the survival benefit in the form of ii. Special Date
level Guaranteed Immediate Income (GII) and Guaranteed
In case the Income or Survival Benefit Frequency is chosen
Income (GI) shall be payable as mentioned above in “How do as Annual, then at the time of purchase the policyholder will
the plan options work?” section. have an option to choose to receive survival benefit on a
Guaranteed Income (GI) shall be expressed a % of Annualized “Special Date” as per their choice, instead of policy
Premium and varies by Age, premium payment term and anniversary. This Special Date can be any date that falls
premium chosen. after the due date of first survival benefit, such as spouse’s
birthday, parents’ anniversary, child’s birthday, etc. All
My Income:
survival benefit payouts shall be made on the chosen date.
For Single Life Policies: While the Life Assured is alive, In such a case, the benefit applicable for the policy year
Survival Benefits are payable provided the policy is in force and when it is due, would be increased for the deferment
all due premiums have been paid. period, i.e., the period between the policy anniversary and
For Joint life policies: While one of the Life Assureds is alive, the Special Date, by accumulating the benefit at an interest
Survival Benefits are payable provided the policy is in force and rate of 3% p.a. compounding monthly. Any change in
all due premiums have been paid. Interest rate will be subject to IRDAI approval. However, the
last instalment due on end of the policy term shall be paid
#
As mentioned in “How do the plan options work?” section, on the date of Maturity only, and not on Special Date.
you can choose your income/survival benefit payout, within the
limits outlined below: If opted in at the time of purchase, then the policyholder will
neither have choice to change the Income/ Survival Benefit
a. Gap between 2 annual survival benefit payouts can be frequency for rest of the policy term, nor change the
between 1 to 10 years. chosen date in future.

7 8
iii. Sub-Wallet Modes of Premium Payment:
The policyholder can choose to receive full or part of his You have an option to pay the premiums either Annually,
benefits into his ‘Sub-Wallet’. The Sub-wallet will earn a Half-yearly, Quarterly and Monthly modes.
loyalty addition that will accrue daily. This loyalty addition Loading on premiums will be applicable as mentioned in the
will be at the rate as outlined below: table below:
Lower of (State Bank of India savings bank interest rate +
1.50% p.a AND State Bank of India savings bank interest Mode Modal Loading
rate X 1.5 times). Single Premium Multiply Single Premium by 1
This rate will be reviewed every six months (on 1st April &
Annual Multiply Annual Premium by 1
1st October every year). The current loyalty interest rate on
the Sub-wallet based on the above will be 4.05% Half - Yearly Multiply Annual Premium by 0.51
compounding annually from 1st October 2022 to 31st Quarterly Multiply Annual Premium by 0.26
March 2023.
The Company may in future change the reference rate from Monthly Multiply Annual Premium by 0.0883
State Bank of India savings bank interest rate to some
other index, subject to prior approval of IRDAI. Riders:
The policyholder can withdraw the balance from the You have the flexibility to enhance your cover by adding the
Sub-wallet, in part or in full, anytime during the policy term. The following optional riders, by paying additional rider premium
balance in the Sub-wallet, if any, will be paid to the policyholder over and above your base policy premium.
at the time of termination or foreclosure of the policy. 1. Tata AIA Life Insurance Non-Linked Comprehensive
The policyholder can dynamically set/amend the proportion Protection Rider (UIN:110B033V02 or any other later
of the benefit receivable into his Sub-wallet any time during version)
the policy term by prior intimation to the Company. 2. Tata AIA Life Insurance Non-Linked Comprehensive Health
iv. Premium Offset Rider (UIN: 110B031V02 or any other later version)
Under a non-Single Pay policy, the policyholder will be able 3. Tata AIA Vitality Protect (UIN: 110B046V01) or any other
to adjust the premium payable in the policy to the extent of later version
benefits payable by the company, if any. The frequency and
4. Tata AIA Vitality Health (UIN: 110B045V01) or any other
timing of benefit payment must match that of premium
later version
payment under this option. If the benefit payout exceeds
the premium payable under the policy, the company shall • These riders can be attached effective policy inception
pay such excess to the policyholder. However, if the benefit or any policy anniversary of the base plan.
payable is not sufficient to offset the premium payable • Riders can be attached subject to rider premium
under the policy, then, the policyholder will be required to payment term and policy term are not more than
pay the balance premium to the company. The benefit will outstanding premium payment term and policy term of
be deemed as paid when used for ‘Premium Offset’.
base policy
v. Income/Survival Benefit Frequency
• If there is overlap in benefit offered under different riders
Income/Survival Benefits will be payable annually, by with the base product, then that benefit under the rider
default. However, the policyholder will have an option at will not be offered.
inception to receive Guaranteed Income (when option 1 is
chosen) or Survival Benefit payouts payable (when option 2 • In case the product is purchased under PoS, then no
is chosen) in instalments as half yearly, quarterly, or monthly rider can be attached.
instalments. Any request for change during the policy term • Riders are not mandatory and are available for a
will be effective from next Policy Anniversary. Instalments nominal extra cost.
for non-annual mode frequencies shall be arrived at by
• For more details on the benefits, premiums and
multiplying annual payouts with the corresponding
conversion factors below: exclusions under the riders please refer to the Rider
Brochure or contact our Insurance Advisor /
Annual 100% of Income/Survival Benefit Intermediary or visit our nearest branch office.
(i.e. no loading)
Grace Period:
Half - Yearly 98% of Income/Survival Benefit x 1/2
A Grace Period of fifteen (15) days for monthly mode and thirty
Quarterly 97% of Income/Survival Benefit x 1/4 (30) days for all other modes, from the due date will be allowed
Monthly 96% of Income/Survival Benefit x 1/12 for payment of each subsequent premium. The Policy will remain

9 10
in force during this period. If the full premium for the first 2 policy SURRENDER BENEFIT:
years remains unpaid at the end of their grace period the policies
The policy shall acquire a surrender value immediately on
shall lapse from the due date of the first unpaid premium.
payment of Single Premium in case of Single Pay and on
Non-Forfeiture Provisions: payment of atleast 2 full years’ premiums in case of
Regular/Limited Pay.
If any due premium for a non-single pay policy remains unpaid
at the end of the grace period, the following is the treatment The surrender value payable is higher of the Guaranteed
under various scenarios: Surrender Value (GSV) or Special Surrender Value (SSV).
• Guaranteed Surrender Value = GSV Factor * Total
LAPSE: Premiums Paid (excluding loading for modal premiums and
On discontinuance of payment of premium during the first 2 discount) less any Survival Benefit paid till the date of
policy years, the policy will lapse and no further benefits shall surrender; subject to minimum zero
be paid. The policy can be revived within the period of 5 years • Special Surrender Value (SSV) is determined by the
from the due date of first unpaid premium by payment of all due company from time-to-time basis changing economic
premiums together with interest as detailed below in revival scenario. The Company may revise SSV based on then
section. Upon revival of the policy, all benefits shall be restored prevailing market conditions. Any change in the
and be applicable with effect from the date of revival. The policy methodology/formula for calculating SSV shall be subject
will be terminated at the end of revival period if not revived. to IRDAI approval.
In addition, on revival of a lapsed policy, the Survival benefit that
would have otherwise been payable to a premium paying Revival
policy during the period the policy was lapsed, will be payable If a premium is in default beyond the Grace Period and subject
to the policyholder on the date of revival. to the Policy not having been surrendered, it may be
reinstated/revived, within five years after the due date of first
REDUCED PAID-UP BENEFIT: unpaid premium and before the date of maturity, subject to: (i)
The policy shall acquire a reduced paid-up benefit on payment Policyholder’s written application for reinstatement/revival; (ii)
of atleast 2 full years’ premiums in case of Regular/Limited Pay. production of Insured’s current health certificate and other
The benefits to be paid in case of reduced paid-up policies are evidence of insurability, satisfactory to the Company; and (iii)
as follows. payment of all overdue premiums with interest.
Such reduced paid-up policies can be revived within the period The evidences and any medical requirements called for are in
of 5 years from the due date of first unpaid premium by line with the prevailing underwriting guidelines duly approved
payment of all due premiums together with interest as detailed by the Board & the health declaration by the life insured(s).
below in revival section. Upon revival of the policy, all benefits
shall be restored and be applicable with effect from the date of Any reinstatement/revival shall only cover loss or insured event
revival. which occurs after the reinstatement/revival date.
In addition, on revival of a reduced paid-up policy, the Any evidence of insurability requested at the time of
difference between the paid-up Survival benefit already paid reinstatement/revival will be based on the prevailing
out during revival period and the original Survival benefit will underwriting guidelines duly approved by the Board. The
also be payable to the policyholder. reinstatement/revival will be based on the Board approved
Death Benefit: On death during the policy term, Basic Sum underwriting policy.
Assured multiplied by the RPU Factor shall be payable. The applicable interest rate for revival is determined using the
Survival Benefit: The future Survival Benefit multiplied by the SBI domestic term deposit rate for ‘1 year to less than 2 years’,
RPU factor shall continue to be payable. plus 2%. The rate of interest on revival with effect from 1st
October 2022 is 7.45% simple p.a. (i.e. SBI interest rate of
Maturity Benefit: Maturity Benefit as chosen multiplied by the
5.45% + 2%) plus applicable taxes. The interest rate applicable
RPU Factor shall continue to be payable.
is reviewed every 6 months and gets updated as per the given
Surrender Benefit: The surrender benefit as detailed below formula. Any alteration in the formula will be subject to prior
shall be payable. approval of IRDAI.
Where,
Reduced Paid-up (RPU) Factor shall be a ratio calculated as Options available under the product:
the total period for which premiums have already been paid, The following options are available under the product:
divided by the maximum period for which premiums were • Change of premium payment mode
originally payable.
• Change of Nomination/ Assignment/ Appointee

11 12
• DOB correction whether such a service(s) is availed by the Policyholder.
• Change of Income/Survival benefit frequency at policy - These services have been transparently stated in the Sales
anniversary Literature and Policy Document with clear guidance on
• Settlement Option how to verify eligibility etc.
No other change is allowed apart from those mentioned above. - The Life Insured may exercise his/her own discretion to
avail the services.
Value-added Service Feature: - These services shall be directly provided by the service
Health Management Services: provider(s).
Life Insureds of TATA AIA Fortune Guarantee Supreme who are
eligible for the Health Management Services will be eligible to
- The services can be availed only where the policy / rider is
avail Second Opinion / Personal Medical Case Management /
in-force.
Medical Consultation services from service provider(s) affiliated
to/registered with the Tata AIA Life Insurance Co. Ltd. The - All the supporting medical records should be available to
services are expected to assist the eligible life insured(s) to avail the service.
ascertain correct diagnosis of a medical condition and obtain - We reserve the right to discontinue the service or change
due care for the life insured(s) in case of illness. the service provider(s) at any time.
These services are subject to: - The services are being provided by third party service
- the availability of suitable service provider(s); provider(s) and we will not be liable for any liability.
- primary diagnosis has been done by a registered medical
practitioner as may be authorized by a competent statutory Terms and Conditions
authority; 1. Free Look Period
- Health Management Service is available to be utilised If the Policyholder is not satisfied with the terms & conditions of
throughout the policy term, subject to prevailing eligibility the policy, s/he has the right to cancel the Policy by providing
conditions. written notice to the Company and receive a refund of all
premiums paid without interest after deducting a)
- the eligibility of the life insured(s) as may be determined by
Proportionate risk premium for the period on cover, b) Stamp
Board Approved Underwriting Policy which will be
duty, and c) Medical examination costs (including goods and
reviewed periodically and updated on our website. The
services tax) which have been incurred for issuing the Policy. In
changes shall apply without any discrimination to all
case any survival benefit has been paid before processing of
existing and new customers of the product. Policyholders
the Free Look cancellation amount, we shall recover the same
can check their eligibility by visiting our website or
from the refund amount due to the policyholder.
contacting the Call Centre.
Such notice must be signed by the Policyholder and received
- Whenever the eligibility criteria changes or the service is
directly by the Company within 15 days after the Policyholder
withdrawn, the same shall be communicated to all the
receives the Policy Document. The said period of 15 days shall
policyholders. Prior to effecting any changes, we shall
stand extended to 30 days, if the policy is sourced through
inform the same to IRDAI
electronic or distance marketing mode.
- The current eligibility is of a minimum total Sum Assured of
Distance marketing includes every activity of solicitation
R 30 lakhs [under base plan and rider/s (if any)]
(including lead generation) and sale of insurance products
Note: through the following modes:
- These services are aimed at improving Policyholder i. Voice mode, which includes telephone-calling;
engagement and reducing exits from the Company’s
in-force book. ii. Short Messaging service (SMS);
- The cost of these services is expected to be offset by either iii. Electronic mode which includes e-mail, internet and
lower costs of claims or better economies of scale or interactive television (DTH);
higher revenue due to better persistency. iv. Physical mode which includes direct postal mail and
- These value added services are completely optional for the newspaper & magazine inserts; and,
eligible customer to avail v. Solicitation through any means of communication other
- For customers availing such services, they are offered at no than in person.
additional cost to the Life Insured.
- Premiums charged to the policyholder shall not depend on

13 14
Distance Marketing will include sales through Direct Sales 4. Exclusion
(other than in person). Suicide Exclusion
2. Change in Basic Sum Assured In case of death due to suicide within 12 months from the
Any change in the Basic Sum Assured is not allowed post date of commencement of risk under the policy or from the
inception of the policy. date of revival of policy, as applicable, the nominee or
beneficiary of the policyholder shall be entitled to at least
3. Policy Loan
80% of the total premiums paid till the date of death or the
Provided that the policy acquires Surrender Value, surrender value available as on the date of death whichever
policyholders may apply for a policy loan for such an amount
is higher, provided the policy is in force. The policy shall
within the extent of 80% of Surrender Value. The Policy must
be assigned to Tata AIA Life. terminate and no further benefits shall be payable.
Daily interest shall accrue on policy loan at a rate which the In case of joint life policy, the above clause is applicable on
company shall determine. Interest shall be payable on each first death (of either of the two lives) due to suicide within 12
policy anniversary after the loan date and until the loan is months from the commencement of risk under the policy.
repaid. Any unpaid interest shall be added to the principal loan Waiting Period (applicable for POS)
and bear interest at the same rate.
If death of any of the life insureds occurs during the first 90
The loan outstanding shall be recovered from the claim
proceeds under the policy. However, the policyholder has the days from the Date of commencement of risk, we shall
flexibility to repay the loan principal or any part thereof at any refund Total Premiums Paid and the policy will terminate
time during the policy term before termination. with immediate effect.
For in-force and fully paid up policies, the policy will not be Waiting period of 90 days is not applicable for death due to
foreclosed if the outstanding loan amount including interest accident provided all due premiums have been paid. Death
exceeds the surrender value. However, for other than in-force benefit and other benefits in policy will continue to be
and fully paid up policies, if the outstanding loan amount payable as normal in case of such accidental death.
including interest exceeds the surrender value, the policy will
be foreclosed after giving intimation and reasonable 5. Tax Benefits
opportunity to the policyholder to continue the policy. Income Tax benefits may be available as per the prevailing
In our endeavor to create a thriving ecosystem for MSME Income Tax Laws, subject to fulfillment of conditions
customers, we wish to encourage MSME owners who are stipulated therein. Tata AIA Life Insurance Company Ltd.
policyholders of Tata AIA Life, by offering lower interest rate for does not assume responsibility on tax implication
policy loan. mentioned anywhere in this document. Please consult your
Interest rate applicable to policy loan will be equal to: own tax consultant to know the tax benefits available
• Female policyholders who are MSME owners: Prevailing to you.
SBI (State Bank of India) domestic term deposit interest 6. Assignment
rate for tenure ‘1 year to less than 2 years’ + 1%
Assignment is allowed as per provisions of Section 38 of
• Non female policyholders who are MSME owners: the Insurance Act 1938 as amended from time to time.
Prevailing SBI (State Bank of India) domestic term deposit
interest rate for tenure ‘1 year to less than 2 years’ + 1.5% 7. Nomination
• Policyholders who are not MSME owners: Prevailing SBI Nomination is allowed as per provisions of Section 39 of
(State Bank of India) domestic term deposit interest rate for the Insurance Act 1938 as amended from time to time.
tenure ‘1 year to less than 2 years’ + 2%. This formula will 8. Renewal Premium in advance
be reviewed annually and only altered subject to prior
approval of IRDAI. The interest rate on loans are verified & Collection of renewal premium in advance shall be allowed
updated on our company's systems every six months (on within the same financial year for the premium due in that
1st April & 1st Oct every year) as per the given formula. The financial year. Additionally, the premium due in one financial
current interest rate for Loan from 1st October 2022 is year may be collected in advance in earlier financial year for
• Female policyholders who are MSME owners: 6.45% p.a. a maximum period of three months in advance of the due
(i.e. SBI interest rate of 5.45% + 1.00%) compounding date of the premium.
annually. The renewal premium so collected in advance shall only be
• Non female policyholders who are MSME owners: 6.95% adjusted on the due date of the premium.
p.a. (i.e. SBI interest rate of 5.45% + 1.50%) compounding
annually. 9. This product is also available for sales through Company’s
web-site www.tataaia.com
• Policyholders who are not MSME owners: 7.45% p.a. (i.e.
SBI interest rate of 5.45% + 2%) compounding annually. 10. Fraud, Misstatement or Suppression

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 Any fraud, misstatement or suppression of a material fact 06. Life Insurance Policy can be called in question within 3
under the policy shall be dealt as per the provisions of years on the ground that any statement of or suppression
Section 45 of the Insurance Act 1938 as amended from of a fact material to expectancy of life of the Life Assured
time to time. was incorrectly made in the proposal or other document
basis which Policy was issued or revived or rider issued.
Section 45 – Policy shall not be called in question on the
For this, the insurer should communicate in writing to the
ground of mis-statement after three years Life Assured or legal representative or nominee or
Provisions regarding Policy not being called into question in assignees of insured, as applicable, mentioning the ground
terms of Section 45 of the Insurance Act, 1938, as amended and materials on which decision to repudiate the Policy of
by Insurance Laws (Amendment) Act, 2015 are as follows: life Insurance is based.
01. No Policy of Life Insurance shall be called in question on 07. In case repudiation is on ground of mis-statement and not
any ground whatsoever after expiry of 3 yrs from on fraud, the premium collected on Policy till the date of
a. the date of issuance of Policy or repudiation shall be paid to the Life Assured or legal
b. the date of commencement of risk or representative or nominee or assignees of insured, within a
period of 90 days from the date of repudiation.
c. the date of revival of Policy or
08. Fact shall not be considered material unless it has a direct
d. the date of rider to the Policy
bearing on the risk undertaken by the insurer. The onus is
whichever is later. on insurer to show that if the insurer had been aware of the
02. On the ground of fraud, a Policy of Life Insurance may be said fact, no life Insurance Policy would have been issued
called in question within 3 years from to the insured.
a. the date of issuance of Policy or 09. The insurer can call for proof of age at any time if he is
b. the date of commencement of risk or entitled to do so and no Policy shall be deemed to be
c. the date of revival of Policy or called in question merely because the terms of the Policy
are adjusted on subsequent proof of age of Life Insured.
d. the date of rider to the Policy So, this Section will not be applicable for questioning age
whichever is later. or adjustment based on proof of age submitted
For this, the insurer should communicate in writing to the Life subsequently.
Assured or legal representative or nominee or assignees of [Disclaimer: This is not a comprehensive list of
insured, as applicable, mentioning the ground and materials on amendments of Insurance Laws (Amendment) Act, 2015.
which such decision is based. and only a simplified version prepared for general
03. Fraud means any of the following acts committed by Life information. Policyholders are advised to refer to
Assured or by his agent, with the intent to deceive the insurer Insurance Laws (Amendment) Act, 2015 for complete and
or to induce the insurer to issue a life Insurance Policy: accurate details.]
a. The suggestion, as a fact of that which is not true and 11. First year premium discount
which the Life Assured does not believe to be true;
• Discount for Auto Premium Debit: A discount of 1% will
b. The active concealment of a fact by the Life Assured having be offered on the first-year instalment due premiums
knowledge or belief of the fact; for all payments paid through any permissible
c. Any other act fitted to deceive; and electronic mode debited through an auto-debit
d. Any such act or omission as the law specifically declares to mandate. Such discount shall be capped to a
be fraudulent. maximum of r100 over the year.
04. Mere silence is not fraud unless, depending on • Discount for women: A discount of 2% on first year
circumstances of the case, it is the duty of the Life Assured premium will be offered to female life assureds. In case
or his agent keeping silence to speak or silence is in itself of Joint Life policies, discount of 2% on first year will be
equivalent to speak. offered when both the lives are females.
05. No Insurer shall repudiate a life Insurance Policy on the
ground of Fraud, if the Life Assured/ beneficiary can prove Prohibition of Rebates - Section 41 - of
that the misstatement was true to the best of his the Insurance Act, 1938, as amended
knowledge and there was no deliberate intention to from time to time
suppress the fact or that such mis-statement of or
suppression of material fact are within the knowledge of No person shall allow or offer to allow, either directly or
the insurer. Onus of disproving is upon the Policyholder, if indirectly, as an inducement to any person to take out or renew
alive, or beneficiaries. or continue an insurance in respect of any kind of risk relating

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to lives or property in India, any rebate of the whole or part of • All Premiums and interest payable under the policy are
the commission payable or any rebate of the premium shown exclusive of applicable taxes, duties, surcharge, cesses or
on the Policy, nor shall any person taking out or renewing or levies which will be entirely borne/ paid by the Policyholder,
continuing a Policy accept any rebate, except such rebate as in addition to the payment of such Premium or interest.
may be allowed in accordance with the published Tata AIA Life shall have the right to claim, deduct, adjust
prospectuses or tables of the Insurer. and recover the amount of any applicable tax or imposition,
levied by any statutory or administrative body, from the
About Tata AIA Life benefits payable under the Policy.
Tata AIA Life Insurance Company Limited (Tata AIA Life) is a
joint venture company, formed by Tata Sons Ltd. and AIA
Group Ltd (AIA). Tata AIA Life combines Tata’s pre-eminent
leadership position in India and AIA’s presence as the largest,
independent listed pan-Asia Life Insurance Group in the world
spanning 18 markets in Asia Pacific. Tata Sons holds a majority
stake (51 per cent) in the Company and AIA holds 49 per cent
through an AIA International Limited. Tata AIA Life Insurance
Company Limited was licensed to operate in India on February
12, 2001 and started operations on April 1, 2001.
DISCLAIMER:
• This product is underwritten by Tata AIA Life Insurance
Company Ltd.
• Insurance cover is available under this product.
• This plan is not a guaranteed issuance plan and it will be
subject to Company’s underwriting and acceptance.
• This plan is also available for sale through online mode.
• This product brochure should be read along with Benefit
Illustration.
• Risk cover commences along with policy commencement
for all lives, including minor lives. The policy shall vest in the
life of the minor insured once he/she attains majority i.e. 18
years. In case of Joint Life policy, both life insureds need to
be major for the policy to vest on their lives.
• 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 all the Premiums Paid.
• In case of a Joint Life policy, the Secondary Life can be the
spouse/ child/ parent/ grandparent/ grandchild/
parent-in-law or sibling of the Primary Life. Other
relationships may be considered as long as there is an
insurable interest between the lives, as defined within our
Board-approved Underwriting Policy (BAUP).
• In case of non-standard lives and on submission of
non-standard age proof, extra premiums will be charged as
per our underwriting guidelines.
BEWARE OF SPURIOUS IRDAI is not involved in activities like selling
PHONE CALLS insurance policies, announcing bonus or
AND FICTITIOUS / investment of premiums. Public receiving
FRAUDULENT OFFERS such phone calls are requested to lodge a
police complaint

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