Fact
Sheet

Yes, you can change the mode of payment for your premium. You can choose between offline, online and autopay modes of payment. Online modes of payment include IMPS, EBPP and digital wallets. If you opt for the autopay option, the premium amount will automatically be deducted directly from your bank account on the given due dates.

National Automated Clearing House (NACH) is a web based solution implemented by National Payments Corporation of India (NPCI). NACH facilitates high volume electronic transactions that are periodic in nature. By participating in e-NACH, the policyholder authorizes Tata AIA Life Insurance to debit recurring renewal premiums.

A mutual fund's NAV indicates its market value. NAV can be used to assess the current performance of any given fund. It is the total value of a fund’s assets minus the value of its liabilities, per unit. A percentage increase or decrease in the NAV of a fund can tell you the increase or decrease in its value over time.

Riders essentially are additional benefits that provide cover to certain areas that are not covered under your current policy. You can choose to add riders as per your requirements, with a nominal fee.

Lapsation means a ‘lapse in coverage’. If a policy is said to have lapsed, it means that is not an active contract anymore. It will no longer provide insurance coverage or benefits to the insured person. However, a lapsed policy can be reinstated within a certain period of time after it has lapsed, by paying a reinstatement premium. This time period may vary according to your policy.