Young Individuals
It Is good to start investing early as you can to create a large corpus to meet your life goals. Also, when you start early you also get the benefit of the life cover to protect your loved ones.
FOR EXISTING POLICY
Have query on premium, payout or any servicing need?
Call us:
1 860 266 9966
Monday - Saturday | 10 am - 7 pm IST
Call charges apply
FOR NEW POLICY
Want to buy a new policy online?
Call us:
+91 22 6984 9300
Give missed call for a call back:
+91 11 6615 8748
Monday - Sunday | 8 am - 11 pm IST
Exclusively for NRIs:
+91 11 4473 0240
Monday - Sunday | 9:30 am - 9 pm IST
Tata AIA Life Insurance
Savings Plans
Having a life insurance plan is necessary for protecting your family and ensuring that their future is secure during uncertain times. Similarly, having a life insurance savings plan allows you to save your money and build your wealth over the long term with an added layer of financial security.
Therefore, Tata AIA Life Insurance brings to you a range of curated savings plans that help you fulfil all your financial goals with guaranteed returns while securing your family’s future so that finances do not hamper your dreams and obligations in any way.
What is a
Savings Plan?
A savings plan offers two-fold benefits – guaranteed returns and life cover. A life insurance savings solution is a type of insurance product that helps you save your money over the years and create an assured financial corpus that can be used to fulfil your essential needs, your future goals, and meet your financial commitments. A savings plan can also act as your secondary source of income, depending on the policy you choose, thus letting you make a financial plan for the long term.
Savings plans are particularly useful for inculcating a disciplined and regular savings habit that will yield guaranteed returns during the course of or at the end of the policy term or both. Along with a robust financial plan, the life insurance coverage of a Tata AIA savings plan will keep you and your family secure so that any future emergencies your family may face can also be taken care of.
Table of Content
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Types of Savings Plans -
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Why Purchase Savings Plans Online? -
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Key Features of a Savings Plan -
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Popular Tata AIA Life Insurance Savings Plans -
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Benefits of Having a Savings Plan -
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Eligibility Criteria for Buying Saving Plans -
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Factors to Consider Before Investing in a Savings Plan -
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Who Should Opt for a Savings Plan?
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Why Should You Buy a Savings Plan? -
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How to Compare Different Savings Plans? -
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Why Choose a Savings Plan from Tata AIA Life Insurance? -
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How to Calculate Your Savings Plan Insurance Premium? -
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Check out the Different Savings Insurance Plans from Tata AIA Life Insurance -
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People Like you also Read -
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Frequently Asked Questions
Types of Savings Plans
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Monthly Income Plans
Our monthly income plans provide the security of a monthly income along with the benefit of a life cover. By investing in a monthly income plan, you can receive a steady stream of funds every month during the plan’s income period or on the maturity of the plan.
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Guaranteed Return Plans
As the name suggests, guaranteed return insurance plans ensure guaranteed return on your savings plan and help your family stay safe under a life cover. Such plans are useful for helping you meet major milestones in your life where the need for finances is paramount.
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Money-back Plans
Money-back plans enable you to invest in a savings plan where you get a part of the sum assured at regular intervals during the policy tenure instead of getting lump sum amount at the end of term. These plans give you the liquidity you need to meet immediate goals along with the security of a life cover.
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Regular Income Plans
Regular income plans are meant to help you meet your daily and essential needs with the help of a steady source of funds. Apart from allowing you to choose the frequency of the payouts, these plans also safeguard your family’s future with a life cover.
Why Purchase Savings Plans Online?
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Independent Purchase
By buying our online assured savings insurance plan, you can carry out your research, refer to our plan brochures, compare our plans and make an informed decision.
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Hassle-free experience
Our smooth online process helps you have a hassle-free experience so that you do not have to spend much time or effort while buying our online savings plans.
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Go paperless and green.
We ensure the use of minimum documentation in the form of soft copies, which you can simply upload on our website, thereby keeping the environment clean.
Key Features of a Savings Plan
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Maturity benefit
Savings plans offer assured maturity benefits which help create a financial plan that will be beneficial for fulfilling you and your family’s future needs.
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Life cover
A life insurance cover is an important feature of a life insurance savings plan that keeps you and your family secure so that your savings need not be compromised.
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Steady returns
Savings plans are preferred for their stable returns. So you need not worry about losing any money.
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Flexible premium payment options
With a savings plan, you can opt to pay your premiums monthly, quarterly, half-yearly, annually, or as a single premium payment plan, as per your preference.
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Entry Age
Depending on the plan of your choice and the eligibility criteria, you can start a savings plan at any stage of your life and align them with your financial goals and requirements.
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Policy Tenure
Savings plans come with flexible policy terms so that you can plan your financial goals accordingly and fulfil them through the benefits of the plan.
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Multiple Rider^ Options
To enhance the coverage of your savings plan, you can add one or more riders to your policy and ensure that any unforeseen emergencies are covered.
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Tax~ Benefits
With a savings plan, you can avail of tax deductions and tax exemptions under Section 80C and the maturity benefits under Section 10(10D) of the Income Tax Act, respectively.
Popular Tata AIA Life Insurance Savings Plans
Tata AIA Life Insurance Fortune Guarantee Plus
Non-Linked, Non-Participating, Individual Life Insurance Savings Plan (UIN: 110N158V07)
Tata AIA Life Guaranteed Return Insurance Plan
Individual, Non-Linked, Non-Participating, Life Insurance Savings Plan (UIN:110N152V11)
Tata AIA Life Insurance Smart Income Plus
A Non-Linked, Non-Participating, Individual Life Insurance Savings Plan (UIN: 110N126V04)
Tata AIA Life Smart Value Income Plan
Individual, Non-Linked, Participating Life Insurance Savings Plan (110N162V01)
Tata AIA Life Insurance Diamond Savings Plan
A Non-Linked, Participating Individual Life Insurance Savings Plan (UIN: 110N133V02)
Tata AIA Life Insurance Fortune Guarantee
Non-Linked, Non-Participating, Individual Life Insurance Savings Plan (UIN: 110N120V09)
Tata AIA Life Insurance Mahalife Gold
Non Linked, Participating, Whole Life Individual Savings Plan (UIN: 110N029V03)
Tata AIA Life Guaranteed Monthly Income Plan
Non Linked, Non Participating Individual Life Insurance Savings Plan (UIN: 110N147V02)
Benefits of Having a Savings Plan
Financial Protection
Financial Protection
A savings plan helps protect your dreams and goals financially. On the plan’s maturity, the savings corpus enables you to fulfil your needs without any stress.
Tax~ Savings
Tax~ Savings
You can save more on your savings plan with tax benefits. You can get tax benefits on the premium amount paid and the maturity benefit as per the applicable tax laws.
Life insurance protection for family
Life insurance protection for family
A life insurance savings plan will protect your family against all odds in life with an adequate sum assured when you are unable to take care of them.
Wealth Creation
Wealth Creation
You can save a regular amount of money each month under a savings plan throughout the policy tenure, ensuring a disciplined and guided savings habit.
Added Bonuses2
Added Bonuses2
As and when declared by the company, your savings plan will accumulate added bonuses (as applicable under the plan opted) every year which will add to the corpus you will receive on maturity.
Retirement Savings
Retirement Savings
Savings plans are useful when it comes to making retirement plans. A monthly income plan can handle you and your family’s post-retirement needs.
Policy Loan Option
Policy Loan Option
When an assured savings insurance plan acquires surrender value, you can avail of a loan for extra support to fulfil any immediate financial obligations.
Safety of Capital & Assured Minimum Return
Safety of Capital & Assured Minimum Return
The returns from savings plans are not linked to the market while a fixed portion of the returns is guaranteed, thus making them ideal for low-risk investors.
Tata AIA Life Insurance Savings Plans
Savings Solutions
Start saving today to fulfil the dreams of your loved ones.
Eligibility Criteria for Buying Saving Plans
Buying a savings plan is similar to purchasing any other life insurance product in some ways. However, Savings Plans are quite flexible because they are designed to suit the financial requirements of different policyholders. While one person may have long-term savings goals, others may want to utilize short term savings plans for their needs.
Hence, the eligibility criteria for each Tata AIA Life Insurance Savings Plan are different. For example, Tata AIA Life Guaranteed Return Insurance Plan has a minimum entry age of 0 years, while the minimum age of entry for Tata AIA Life Insurance Smart Income Plus is 3 years for a premium payment term of 7 years and 30 days for a premium payment term of 10 years and 12 years.
Savings plans also offer flexible policy terms so that those who want to meet their short-term goals can find a savings plan of their choice, while those with long-term savings goals also find suitable plans.
Factors to Consider Before Investing in a Savings Plan
Before you invest in a monthly saving scheme, here is what you should consider:
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Goal setting
Start your financial planning with a goal in mind. What do you intend to save for? Are you saving for your child’s further education? Will the savings be used for a future business venture, or creating a retirement plan for your family and yourself?
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Risk assessment
Consider your risk appetite as this factor will change with your age, income, and life stage and will also be dependent on your goals. Ask yourself if you can take up a high-risk investment or would like to settle for a low-risk savings plan that will give your assured returns on maturity.
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Flexibility
Always select a plan that matches your goals. If you need the funds after 10 years of savings, you should choose a policy that will provide the returns at the same time. You can also choose the payout option as per your needs so that you can either go for a monthly income or receive the benefits in a lump sum.
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Plan features
There are different types of savings options, each designed to meet the different needs of different policyholders. Always go for a plan whose features are aligned with your savings goals and your financial plans. Be mindful of choosing the premiums as well so that your savings don’t come to a halt.
Who Should Opt for a Savings Plan?
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Young Individuals
It Is good to start investing early as you can to create a large corpus to meet your life goals. Also, when you start early you also get the benefit of the life cover to protect your loved ones. -
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Recently married couples
Newlywed couples have a lot of financial responsibilities and obligations, which a savings plan can help them with. Some years later, any major expenses such as having a baby or buying a new home need a good savings plan.![]()
Recently married couples
Newlywed couples have a lot of financial responsibilities and obligations, which a savings plan can help them with. Some years later, any major expenses such as having a baby or buying a new home need a good savings plan. -
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Parents who are young and have children
If you are a parent who needs to look out for their child’s future, you can choose a saving plan for your child. A child saving plan will ensure that your child’s dreams and aspirations receive enough support throughout their lives.![]()
Parents who are young and have children
If you are a parent who needs to look out for their child’s future, you can choose a saving plan for your child. A child saving plan will ensure that your child’s dreams and aspirations receive enough support throughout their lives. -
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Young entrepreneurs
Someone who has started a new business venture should consider a savings plan that will help them plan their future financial goals, support their business, and also help them invest their money in a safe avenue with low risk.![]()
Young entrepreneurs
Someone who has started a new business venture should consider a savings plan that will help them plan their future financial goals, support their business, and also help them invest their money in a safe avenue with low risk.
Why Should You Buy a Savings Plan?
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Regular Savings
A savings plan helps you save a fixed amount regularly, which ensures a disciplined savings habit. Since you need to pay the policy premiums regularly to keep the plan active, you can effortlessly create a savings corpus.
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Life Cover
Savings plans with life cover can give your family the protection they deserve in your absence. The sum assured of the plan will continue to support them financially in times of need if you cannot provide for them.
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Guaranteed Returns
Unlike some other saving schemes in India, you can be assured of guaranteed returns on your savings plan. The risk in a savings plan is also low, which ensures that you can save for a robust corpus and get maximum returns on the plan.
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Bonus Additions
For some savings plans also known as Participating plans, fund the corpus can be boosted with bonus additions that are offered on the plan. You can avail of these bonuses each year, as and when they are declared by the insurance company, and build your wealth.
Non-Linked, Non-Participating, Individual Life Insurance Savings Plan (UIN:110N158V06)
Tata AIA Life Insurance
Fortune Guarantee Plus
Key Features
Health Cover against 40 critical illnesses$
Save tax~ up to 46,800**
Avail free online medical consultation^^
Get your premiums+ back at the end of the income period.
How to Compare Different Savings Plans?
To be able to get a savings plan that matches your goals, fulfils your financial needs, and also provides sufficient protection to your family, you should compare savings plans on the basis of the parameters below:
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Size of life cover
While a savings plan primarily is meant for growing your savings, the life cover is equally crucial. Ensure that the life insurance coverage offered by your savings plan is enough to safeguard your family’s needs in your absence.
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Premiums payable
Always select a savings plan whose premiums are affordable while the coverage is adequate. With manageable premiums, you need not risk stopping the payments due to a shortage of funds and can continue enjoying the benefits.
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Life insurer’s reputation
The life insurance provider’s reputation and claim settlement ratio are of utmost importance since that will not only determine their ability to settle your claims effectively but also ensure guaranteed bonus additions when declared. Tata AIA Life Insurance had declared exemplary bonus and dividend benefiting its customers.
Individual, Non-Linked, Non-Participating, Life Insurance Savings Plan (UIN:110N152V10)
Tata AIA Life
Guaranteed Return Insurance Plan
Key Features
Flexibility to choose Plan Option: Endowment, Regular Income or Whole Life Income
Receive Guaranteed* benefits on Maturity or Death
Flexibility to cover your spouse in same policy under Whole Life Income Option
Enhance your protection with optional Riders^
Why Choose a Savings Plan from Tata AIA Life?
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Choice of savings plans
We offer a wide range of savings plans that are designed to meet your savings goals and also fulfil your life insurance needs so that your family can always be protected under a life cover.
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Flexible Premium payment term and policy term
Our savings insurance plans come with flexible premium payment terms and policy terms so that you can choose whatever suits your financial goals and make the most of it.
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Comprehensive Protection
Not only do our savings plans help you with your savings goals and life insurance protection, but you can also add optional riders^ to enhance your cover and avail comprehensive protection.
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Seamless claim settlement
With a claim settlement ratio of 98.53% for FY 2021-22$$, we aim to settle your claims on time so that you and your family need not have to face any financial constraints.
Why Should You Choose Us?
If you compare and choose your carefully, you will be able to get the best savings plan. Here are some of the reasons you should choose Tata AIA Life Insurance for your insurance needs –
400+ Branches
Presence across major Indian cities
98.53%
Claim settlement ratio for FY 21 -22$$
Rs 3,00,000 Crores+
Among the highest retail sum assured3
Rs. 62,894 Crores
Assets Under Management (AUM)4
88% Policy Renewal
Customers renew their policy in 2nd year5
68 Lakh+
Families protected6
Check out the Different Savings Insurance Plans from Tata AIA Life Insurance
Tata AIA Life Insurance
Fortune Guarantee Plus
Tata AIA Life
Guaranteed Return Insurance Plan
Tata AIA Life Insurance
Smart Value Income Plan
Tata AIA Life Insurance
Guaranteed Monthly Income Plan
Tata AIA Life Insurance
Diamond Savings Plan
Tata AIA Life Insurance
Smart Income Plus
Tata AIA Life Insurance
Money Back Plus
Tata AIA Life Insurance
Gold Income Plan
Tata AIA Life Insurance
Fortune Guarantee
Tata AIA Life Insurance
Mahalife Gold
Tata AIA Life Insurance
Value Income Plan
Tata AIA Life Insurance
POS Smart Income Plus
10 mins read
Frequently Asked Questions
Generic Coverage Premiums Claim
Why do you need a savings plan?
A savings plan can help you protect your family against future uncertainties with life cover and also helps you build your wealth over the long term in a systematic and disciplined manner.
How to buy a savings plan online?
To buy a savings plan online, you can go to the Tata AIA Life Insurance website and visit the Buy Online section to choose from our savings plans available online.
What does the claim settlement ratio mean?
The claim settlement ratio indicates the number of claims that have been settled by an insurance provider as against the number of claims received by them for the financial year. A high claim settlement ratio is always ideal since it means that your insurer can settle your claims effectively and on time.
What is a grace period in a savings plan?
Our savings plans have a grace period of 15 days for the monthly premium payment mode, while the other modes have a grace period of 30 days from the due date of the succeeding premium payments.
What are the different types of savings plans?
Savings plans can be classified into –
By Guarantee of payouts
- Guaranteed Returns Plans
- Participating plans (with Guaranteed + non-Guaranteed benefits)
By Payout type
- Endowment Plans
- Money-back Plans
- Regular Income Plans/Monthly Income Plans
What are the riders available with savings plans?
Riders available with Savings plan can help to enhance the comprehensiveness of the coverage under the plan. The following riders are available with Tata AIA Life Insurance savings plans:
Tata AIA Vitality Health – A Non-Linked, Non- Participating Individual Health rider (UIN:110B045V01)
Tata AIA Vitality Protect – A Non-Linked, Non- Participating Individual Health rider (UIN:110B046V01)
Tata AIA Life Insurance Non-Linked Comprehensive Protection Rider - A Non-Linked, Non- Participating Individual Health Rider (UIN:110B033V02)
Tata AIA Life Insurance Non-Linked Comprehensive Health Rider - A Non-Linked, Non- Participating Individual Health Rider (UIN: 110B031V02)
Tata AIA Life Insurance Accidental Death and Dismemberment (Long Scale) (ADDL) Rider- Non Linked, Non Participating Individual Health Insurance Pure Risk Premium Rider (UIN: 110B028V03)
Tata AIA Life Insurance Waiver of Premium Plus (WOPP) Rider - Non Linked, Non Participating Individual Health Insurance Premium Paying Rider (UIN: 110B029V02)
What are Tata AIA Life Insurance Health Management Services?
The Health Management Services is a provision that lets you avail of a second medical opinion or medical consultation from a service provider approved by Tata AIA Life Insurance Co. Ltd. With the help of this facility, you can ensure the correct and timely diagnosis of a critical illness, which can help you receive better care and treatment for your condition.
Can I get tax benefits on my savings plan?
Yes, savings plans are among some of the tax-saving~ options in India. You can get a tax deduction of up to 1.5 lakhs on the premiums paid towards your policy Under Section 80C and also avail of tax exemption on the death benefit or the maturity benefits under Section 10(10D) of the Income Tax Act. Also, with Tata AIA Life Insurance savings plans, you can also save tax up to 46,800**.
How do I choose the coverage of a savings plan?
Savings plans have a savings component as well as a life insurance component. Keeping both in mind, consider the future needs of your family, all their future financial commitments, and all your financial goals and obligations, as well as any emergency needs such as medical expenses.
When can I avail of a savings plan’s benefits?
Since savings plans are divided into two parts – savings and life insurance – your family can avail of the death benefits on the life insurance in case of your untimely demise during the policy tenure, and you can get the maturity benefits which is the savings corpus if you outlive the savings plan policy term. Few savings plan also offer money back or regular income during the policy’s tenure which can be used for you goals planned such as buying a car, planning a vacation, children’s education etc. Some savings plans also offer a loan facility which can be availed in case of emergencies.
What are the various premium payment modes under savings plans?
Under a savings plan, you can pay your premiums on a monthly, quarterly, half-yearly or annual basis. Or you can also opt for single premium payment for the savings plan.
What are the minimum and maximum premiums I can pay for these plans?
The minimum and maximum premium payment for a savings plan will depend on the plan, and the sum assured you select. Remember that the premiums will be divided into two portions, of which one part will provide life cover to your family whilst the other will be part of the savings.
Do savings plans also offer a return of premium benefit?
Yes, there are savings plans which offer a return of premium benefit at the end of the income period.
What are the payout options in savings plans?
You can choose savings plans that give payouts on a monthly or annual basis and as a regular income, monthly income, or as a lump sum.
What will happen if I stop paying my premiums?
If you do not pay your premiums for 2 successive years even within the grace period, the policy will lapse from the due date of the first unpaid premium, and you will not be able to avail of any plan benefits.
How do I file an online claim on my savings plan?
You can file a claim on your savings plan by getting in touch with us in the following ways:
- Email us at: customercare@tataaia.com
- Call our helpline number - 1860-266-9966 (local charges apply)
- Walk into any of the Tata AIA Life Insurance Company branch offices
- Write directly to us at:
The Claims Department,
Tata AIA Life Insurance Company Limited
B- Wing, 9th Floor,
I-Think Techno Campus,
Behind TCS, Pokhran Road No.2,
Close to Eastern Express Highway,
Thane (West) 400 607.
IRDA Regn. No. 110
What are the documents needed to file a claim?
Please click here to know the list of documents needed for the claim intimation and settlement process.
What are the claims that can be filed under a savings plan?
You can file a death claim under a savings plan. And if you have added a critical illness benefit to your policy or selected a plan option with the critical illness benefit, you can also file a claim for availing of the rider^ benefits.
How many days does it take for a claim to be settled?
Typically, it takes 30 days to settle a claim effectively, as per the regulatory TAT (turn-around time). However, in case there is any further investigation required into the claim, the process will take up to 90 days, as per the regulatory TAT.
How can a savings plan claim be processed if the nominee is not in India?
If the nominee is outside India and wants to file a claim, they can upload the attested copies of their documents online or send them to us by email. To file the claim offline, the nominee can send the documents to their representative in India, who can come to any of our offices and file the claim.
Disclaimer
*Guaranteed means that the respective benefits are Guaranteed at inception and are payable provided the policy is in force.
2Bonuses are not guaranteed in nature and if declared, will be payable provided all due premiums have been paid. Bonus may be payable as regularly (eg Cash bonus every year) or will be accumulated to be payable on Death, Maturity etc based on the product opted.
~Income 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 implications mentioned anywhere on this site. Please consult your own tax consultant to know the tax benefits available to you.
^Rider is not mandatory and is available for a nominal extra cost. For more details on benefits, premiums, and exclusions under the Rider, please contact Tata AIA Life's Insurance Advisor/ branch.
The riders Tata AIA Vitality Health - A Non-Linked, Non-Participating Individual Health rider (UIN: 110B045V01) and Tata AIA Vitality Protect - A Non-Linked, Non-Participating Individual Health rider (UIN: 110B046V01) are available with select Savings plans.
Vitality is a trademark licensed to Tata AIA Life by Amplify Health Assets PTE. Limited, a joint venture between Vitality Group International, INC. and AIA Company Limited.
The assessment under the wellness program shall not be considered as a medical advice or a substitute to a consultation/treatment by a professional medical practitioner.
**Tax benefits of up to ₹46,800 u/s 80C is calculated at highest tax slab rate of 31.20% (including cess excluding surcharge) on life insurance premium paid of ₹1,50,000. Tax benefits under the policy are subject to conditions laid under Section 80C, 80D,10(10D), 115BAC and other applicable provisions of the Income Tax Act,1961. Good and Service tax and Cess, if any will be charged extra as per prevailing rates. The Tax Free income is subject to conditions specified under section 10(10D) and other applicable provisions of the Income Tax Act,1961. Tax laws are subject to amendments made thereto from time to time. Please consult your tax advisor for details, before acting on above.
$Available under Regular Income with an Inbuilt Critical Illness Benefit option
^^Medical Consultation is available under eligible policies of Tata AIA Life Insurance and these services are currently being provided by Practo. Medical Consultation feature is optional. It is the customer’s sole discretion to avail Medical Consultation and to follow the advice suggested by the service provider. All medical-related dealing will be directly with the service provider and not with Tata AIA Life Insurance. It is available only for Life Assured of active policies for select products/riders. This feature can be discontinued or service provider may be changed at any time at Tata AIA Life Insurance’s discretion. This feature is provided by a third party service provider and Tata AIA Life Insurance shall not be liable for any liability arising due to customer opting to avail this feature.
+Return of Premium Benefit is The Total Premiums Paid (excluding loading for modal premiums and discount) by the policyholder will be payable at the end of the Income Period, irrespective of survival of the life insured(s) during the Income Period.
$$Individual death claim ratio for FY 2021-22 as per annual financial statements.
3Retail Sum Assured for FY22 is Rs 3,07,804 Cr.
4AUM (Shareholders and Policyholders Fund) stands at Rs. 62,894 Cr as on Aug’22.
587.8% 13th month persistency for FY21-22.
668,75,083 families protected till Oct’22.
- 7Guaranteed Payouts ranging from 120% to 160% of the Annualised Premium under Regular Income Option based upon premium payment term chosen.
- %Cash bonuses (if declared) will be paid out at the end of the chosen pay-out frequency.
- #Only available with cash bonus option.
- 8Compound Reversionary Bonus and Terminal Bonus will be based on Company’s performance and are not guaranteed.
- 9Annual coupons are guaranteed and Cash Dividends are not guaranteed.[DJ1]
The products are underwritten by Tata AIA Life Insurance Company Ltd. The plans are not a guaranteed issuance plan and it will be subject to Company’s underwriting and acceptance.
For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale.
Insurance cover is available under the products.
Please know the associated risks and the applicable charges, from your insurance agent or the Intermediary or policy document issued by the insurance company.
Risk cover commences along with policy commencement for all lives, including minor 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 non-standard lives and on submission of non-standard age proof, extra premiums will be charged as per our underwriting guidelines.
All Premiums and interest payable under the policy are exclusive of the taxes, rider premiums, underwriting extra premiums, loading for modal premiums, if any which will be entirely borne/ paid by the Policyholder, in addition to the payment of such Premium or interest. Tata AIA Life shall have the right to claim, deduct, adjust and recover the amount of any applicable tax or imposition, levied by any statutory or administrative body, from the benefits payable under the Policy.
L&C/Advt/2022/Dec/3387
