communication other than in person. Surrender Benefit
will pay a percentage of the rider sum assured as per the ADDL benefit chart. The benefits will be doubled in case of certain accidental death or dismemberments. Premium Payment Term under this rider will be same as premium paying term of the Base policy or (70-age at entry) whichever is lower. The Rider Policy Term will be equal to Premium Payment Term under the Base Policy or up to the age 70 years of the insured whichever is earlier. For more details on the features, benefits, conditions, premiums and exclusions under this rider please refer to the Rider Brochure or contact our Insurance Advisor or visit our nearest branch office. Other Features Plan Conversion Option Not allowed under this plan. Increase / Decrease in Basic Sum Assured Increase / Decrease in Basic Sum Assured is not allowed. Grace Period A Grace Period of fifteen days for monthly mode and thirty days for all other modes, from the due date will be allowed for payment of each subsequent Regular Premium. The Policy will remain in force during the period. If any Regular Premium remains unpaid at the end of its Grace Period, the Policy shall lapse from the due date of the first unpaid premium. Reinstatement The policy may be reinstated, at the Company’s absolute discretion, within two years from the date of lapse, subject to: (i) Policyholder’s written application for reinstatement/revival; (ii) production of Insured’s current health certificate and other evidence of insurability, satisfactory to the Company, (iii) payment of all overdue Regular Premiums with interest. Any reinstatement shall only cover insured event which occurs after the reinstatement date. The applicable interest rate for revival is determined using the SBI deposit rate for ‘1 year to less than 2 years’, plus 2% and will be reviewed semi-annually. Free Look Period If you are not satisfied with the terms & conditions/ features of the policy, you have the right to cancel the Policy by providing written notice to the Company and receive a refund of all premiums paid without interest after deducting a) Proportionate risk premium for the period on cover, b) Stamp duty and medical examination costs which have been incurred for issuing the Policy. Such notice must be signed by you and received directly by the Company within 15 days after you receive the Policy Document. The said period of 15 days shall stand extended to 30 days, if the policy is sourced through distance marketing mode which includes solicitation through any means of
There is no surrender benefit in this plan for Regular pay option. On choosing Single Pay option, you can surrender your policy any time during the policy term. The Surrender Value for Single Pay Option = 75% x (Policy Term less Policy duration in complete years)/Policy Term x
Single Premium. Maturity Benefit There is no maturity benefit in this plan Policy Loan There is no policy loan available in this plan Tax Benefits 3
Premiums paid under this plan are eligible for tax benefits under Section 80C of the Income Tax Act, 1961 and are subject to modifications made thereto from time to time. Moreover, life insurance proceeds enjoy tax benefits as per Section 10(10D) of the said Act. 3 Income Tax benefits would be available as per the prevailing income tax laws, subject to fulfillment of conditions stipulated therein. Tata AIA Life Insurance Company Ltd. does not assume responsibility on tax implication mentioned anywhere in this document. Please consult your own tax consultant to know the tax benefit available to you. Assignment Assignment allowed as per Section 38 of the Insurance Act 1938 as amended from time to time. Nominee Nomination allowed as per provisions of Section 39 of the Insurance Act 1938 as amended from time to time. Terms & Conditions # Life Stage Plus Option 1 This benefit gives an option to increase the life cover, over and above the Basic Sum Assured. The Additional Sum Assured should be availed within 1 year of the date of marriage or child birth / Legal Adoption (limited to two children). It can be availed by submitting written request to the company with valid proof of marriage or child birth / Legal Adoption and is exercisable only on policy anniversary. Request for such enhanced coverage should be received at least 30 days in advance of the policy anniversary and cannot be availed after age 50 years. This option is not available during last 10 Policy years. The documents required in case of any of the ‘lifestyle events’ are as follows: • Marriage of the Insured – Marriage certificate • Child Birth – Birth certificate
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