Tata AIA Life Insurance Guaranteed Monthly Income Plan

Guaranteed Monthly Income Plan Product Overview

Non Linked, Non Participating Individual Life Insurance Savings Plan

Time never stands still and neither do our financial needs. As we move through various stages of life, our requirements and those of our families change consistently. Along with this we also carry the burden of any uncertainty happening. We do our best to take care of our family's needs and to ensure financial security of our family from uncertainties of life. Life Insurance is the best way to protect our family from financial crisis in case of an unfortunate event and help your money to grow so you can fulfill your dreams.

Tata AIA Life’s Guaranteed Monthly Income Plan, provides financial protection for your family and a monthly income that meets tomorrow's requirements, thus helping you plan ahead towards your future needs and protection for your loved ones.

Guaranteed Monthly Income Plan Key Features

  • Receive Guaranteed monthly income1 for double the Policy term
  • Applicable Large Premium Boost2 to increase your monthly income
  • Choose Policy Term of 5/ 8/ 12 years
  • Life cover to protect your loved ones
  • Enhanced protection with optional Riders3
  • Tax benefits4 under Section 80C and 10(10D) of the Income Tax Act, 1961.

Disclaimers

  • 1Guaranteed Monthly Income is a percentage of Total Premiums Paid, depending on the age at entry and the chosen Policy Term. It is payable in arrears for 10, 16 and 24 years for a policy term of 5, 8 and 12 years respectively, starting from the end of 1st month after the end of Policy Term .
  • 2Large Premium Boost bene¬fit depends on the Premium Payment Term and Annualized Premium chosen. The applicable percentage shall be added to the Income Factors while calculating the Guaranteed Monthly Income.
  • 3Riders are not mandatory and are available for a nominal extra cost. For more details on the benefits, premiums and exclusions under the riders please refer to the Rider Brochure or contact our Insurance Advisor or visit our nearest branch office.
  • 4Income Tax benefits would be available as per the prevailing income tax laws, subject to fulfillment of conditions stipulated therein. Income Tax laws are subject to change from time to time. 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.
  • 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.
  • This product is underwritten by Tata AIA Life Insurance Company Ltd.
  • This plan is not a guaranteed issuance plan and it will be subject to Company’s underwriting and acceptance.
  • Insurance cover is available under this product.
  • In case of non-standard lives and on submission of non-standard age proof, extra premiums will be charged as per our underwriting guidelines.
  • For more details on risk factors, terms and conditions, please read sales brochure carefully before concluding a sale
  • L&C/Advt/2020/Jan/135