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Tata AIA Life Insurance
Get Comprehensive life cover
and Save Tax up to ₹46,800$
Tata AIA Life Insurance
A savings plan that India trusts.
Get guaranteed* tax free returns
Tata AIA Life Insurance
A ULIP Plan with all funds rated 4 or 5 star^ by ~Unit Linked Individual Life Insurance Savings Plan (UIN:110L112V04)
Table of Content
With so many types of life insurance plans available in India, it is possible for you to find a life insurance policy that can suit your insurance needs and your budget. If you are looking for a simple life cover to ensure your family’s protection in your absence, then a pure term insurance policy should be your pick. However, when it comes to saving your money or making an investment with a life insurance policy, you can turn to a life insurance savings plan or a Unit-Linked Insurance Plan (ULIPs).
Those seeking to save up and earn a regular income for their retirement years should opt for an annuity plan. Even some savings plans are designed to help you save funds for retirement. Hence, with the option of several different life insurance types, you have the flexibility of choosing any that works for you.
A term insurance policy is the simplest form of life insurance that can help you protect your family from financial emergencies in your absence. Term insurance provides pure life cover protection for a certain policy term and sum assured. In case of your untimely demise of the life assured during the policy term, the nominee can avail of this sum assured and financially sustain themselves.
A term insurance plan is also easy to protect them from unpaid loans and debts in your absence. Additionally, if there are major expenses that need to be taken care of when you are not around, your family can use the term insurance sum assured to meet these financial obligations.
A term life insurance policy is preferred by many because of the low premiums on the policy despite a high coverage. And when you buy a term insurance plan at a younger age, you can lock in lower premiums for a higher sum assured and continue paying low premiums over the years.
Term insurance policy coverage can be enhanced with optional rider# benefits. These riders are additional covers that can be added to the base term policy for an extra but nominal premium. For instance, with a critical illness cover, you can avail of financial support for your treatment and care in case you are diagnosed with a critical illness as listed under the rider. A health rider can support emergencies that deal with major and minor illnesses and injuries, hospitalization costs, terminal illnesses, and so on.
Ms Ritu is a 25-year-old working professional who lives with her parents and her school-going sister. Her parents are nearing retirement, and in a couple of years, Ritu will be the only earning member in her family, at least for the next 15 years. Therefore, Ritu buys a term insurance policy for a policy term of 30 years and a sum assured of ₹1 crore with affordable annual premiums to protect her family’s financial future. If an unfortunate incident befalls Ritu during these 30 years, the sum assured will be enough to help her parents take care of themselves and her sister.
Convertible term plans offer an option where the term plan can be converted into any other life insurance plan in the future but after a certain number of years. Hence, a simple term insurance plan can become a savings plan or a Unit-Linked Insurance Plan (ULIP).
If you have lower lesser insurance needs with each passing year, a decreasing term plan may be a good choice as the sum assured decreases each year. For instance,the financial risk decreases if you are repaying an EMI each year.
As the most basic type of term plan, the sum assured of a level term plan is fixed throughout the policy term, and in the event of the policyholder’s death, the death benefit will be paid out to the nominee named in the term policy.
Under this type of term insurance plan, you can increase the sum assured annually during the policy term but still continue paying the same premiums as before. The premiums for these policies are slightly higher than level term insurance.
You can get the premium amount you paid back with Term plans that offer return of premium. Maturity benefits on the term plans where 105% of the total premium** paid towards the policy is returned to the policyholder if they survive the policy term.
A Non-Linked Non-Participating Individual Life Insurance Plan (UIN:110N160V03)
TATA AIA Life Insurance
Savings plans with life cover are a type of life insurance plan that enables you to save your money in a systematically over the long term to use the saved funds to fulfil your goals at the end of the policy term. There are a variety of savings plans that you can choose from depending on what goals and financial commitments you need to save for. One of the main reasons why people opt for savings plans is that the returns on such plans are guaranteed, and you do not have to worry about not receiving the entire sum assured on maturity.
When purchasing a monthly savings plan, always consider all the factors such as your family’s needs, your financial goals as well as any emergencies so that you can choose a sum assured that will suffice to handle these expenses. It is also important to ensure that you choose an appropriate policy term that will enable you to save a substantial amount of funds over the years while you pay reasonable premiums.
One part of the premiums paid towards a savings policy is directed towards a life cover, while the other portion goes towards the savings fund to be accumulated over the years. Just as the maturity benefits are guaranteed, the death benefits of a guaranteed savings plan are also guaranteed and paid out in case of the policyholder’s untimely demise during the policy term.
At the age of 25 years, Neha purchased a savings plan with a guaranteed sum assured of 30 Lakh for a policy term of 15 years. Her aim was to save funds for a new bakery store at the age of 40 years. By making regular premium payments, Neha started accumulating the funds in her policy. Her policy also had a life insurance cover which could ensure that in case something happened to Neha during the policy term, her parents would be looked after with the sum assured.
On maturity, Neha received the guaranteed sum assured of 30 Lakh along with the addition of some declared bonuses during the policy term.
At the end of the policy term of an endowment plan, you can avail of the accumulated savings in the insurance policy in the form of a lump sum or endowment. You can choose the policy term as well as the sum assured under this savings plan.
Money-back plans let you avail yourself of a percentage of the sum assured during the policy term at regular intervals after a few years into the policy. Apart from these payouts, the remaining sum assured is paid out on maturity.
Guaranteed income plans pay out an assured or guaranteed sum assured to you on maturity as per a payout option of your choice. These plans are good for regular income as you can plan your goals with the guaranteed sum assured.
Non-Linked, Non-Participating, Individual Life Insurance Savings Plan (UIN:110N158V06)
TATA AIA Life Insurance
A Unit-Linked Insurance Plan (ULIP) combines the benefits of investment and life insurance under a single plan. With a ULIP, you can grow your wealth by systematically investing in various funds that will help you earn market-linked returns on maturity. At the same time, the life cover component helps protect your loved ones in case of an unfortunate occurrence where you cannot provide for your family anymore. The premiums you pay for your ULIP are split between the investment and the life cover.
As an investor, investing in a ULIP policy will need you to assess your risk appetite, based on which you can select the funds to invest in. Since every investor’s investment needs are different, ULIPs, too, are designed to meet these varying needs. This means not only do you have the flexibility to choose the investment tenure and the premium payment term and mode, but you can also select from the range of investment funds offered. Whether you have a moderate risk appetite or a high-risk appetite, you can choose from equity funds, hybrid funds, bonds, and other securities to invest in.
ULIPs plan also enables you to make partial withdrawals during the policy period and allows you to switch between funds if you want to review or keep track of your wealth creation goals closely. Loyalty additions to the fund are yet another feature that can help you increase your investment corpus over the years. When it comes to the tax benefits on a Unit-Linked Insurance Plan, under Section 80C of the Income Tax+ Act, 1961, the annualized premium is eligible for a tax deduction, and under Section 10(10D), the returns received on maturity are exempt from taxes.
Ms Manisha’s insurance needs are not restricted to a simple life insurance policy, and she wants an investment component which is why she buys a ULIP policy worth ₹50 Lakh for a tenure of 15 years and pays an annualised premium of ₹50,000 per year. She can choose from flexible fund options and pay the premiums as per her choice of premium payment mode.
At the end of the 15 years, Manisha will be able to get the total returns on her investment along with any loyalty bonuses that are added to the plan for being invested for the entire policy tenure. And if anything happens to Manisha before the end of the policy term, her family will receive the sum assured of 50 Lakh.
You can choose Unit-Linked Insurance Plan as per the needs and goals that need to be fulfilled, such as a new business venture or your child’s education, and so on. A ULIP policy offers the following funds that you can choose to invest in:
ULIPs invest in equities and stocks of companies. These are high-risk ULIP investments but also have the potential for greater returns. Therefore, these funds are suitable for high-risk investors.
These ULIP funds invest in corporate bonds, government securities, and fixed-income securities with moderate risk. Investors with a moderate risk appetite can opt for these funds.
Investments in these ULIP funds will direct your investment to cash and bank deposits, money market funds, and so on. These are low-risk investments and apt for low-risk investors.
In balanced funds, your investment will be balanced between equity and fixed-interest instruments. Depending on your risk profile, you can choose how much of our investment should be divided accordingly.
IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER
Unit Linked Individual Life Insurance Savings Plan (UIN:110L112V04)
A retirement insurance plan or a pension plan is a type of life insurance plan that helps you save a financial corpus over a period of time for your retirement years. With a retirement plan, you can ensure a steady and regular income for yourself and your family when you stop earning a salary. This can help you lead a comfortable life with financial independence since the accumulated amount can suffice for the essential needs of you and your family as well as any emergency needs such as a medical contingency.
With long-term savings and investments, a retirement plan enables you to accumulate significant funds over the years. And with the life insurance cover, it is possible to protect your family’s financial future in case you are not around to look after them during your retirement years. As compared to traditional forms of savings, a retirement plan offers retirement investment options that can aid in growing the fund so that the inflation rate does not impact the value of your investment and savings.
Even though retirement plans are preferred for the benefit of a regular income, you can also choose to receive a lump sum amount or a combination of regular income and a lump sum payout. This benefit can help you decide how you want to receive the payout to plan for your goals in your retirement years accordingly. In addition, retirement plans also offer an income tax+ exemption on the maturity amount as per Section 10(10D) of the Income Tax Act, 1961.
If a 40-year-old working professional wants to retire at the age of 60 years and wants to receive a regular income after retirement, they should opt for a retirement plan with a policy term of 20 years at the age of 40 years. Depending on their needs and financial goals during their retirement years, they can choose a sum assured that will be adequate for the needs of their family as well as for medical emergencies.
After retirement, keeping in mind that the regular income will replace the salary, one should also plan any major expenses such as starting a new business, funding a specialised course for their children, etc.
Retirement insurance plans, also known as annuity plans, are of two types:
Under this type of annuity plan, you can make a lump sum payment towards the annuity plan and start receiving the payouts as guaranteed income within a year of the lumpsum payment.
Under a deferred annuity plan, the policyholder pays the premiums over the policy term and, on retirement, starts receiving the regular income payouts. The payouts are offered at a later date and not immediately.
Tata AIA Life Insurance
Single Premium, Non-Linked Non-Participating, Individual Annuity Plan (UIN: 110N150V05)
Group insurance plans cover a group of people, especially in an organisation, where the policy is offered by the employer or the company and the coverage and benefits are standard for all the members covered, irrespective of their socio-economic status, gender, age, etc. Group insurance plans have highly affordable premium rates, and the coverage is basic, but it serves the purpose of protecting employees or group members with life insurance. Under a group insurance plan, the policyholder is not the group member by the organisation that also pays the premiums.
Under such group insurance plans, each member of the group is covered for a sum assured that is decided by the organisation, and as long as the premiums are paid, each of the members is protected by the life cover. Hence, in case any of the members were to meet with an unfortunate eventuality, the sum assured they are covered for will be paid out to their family, which will help the aggrieved sustain themselves.
If a member of the group leaves the organisation during the policy term, this insurance policy ceases to cover them. This is the main reason people choose to have individual insurance coverage even though their organisation may provide group insurance plans. If the group insurance plan has maturity benefits, they are paid out to the employee on their retirement from the same organisation as part of their gratuity benefits.
Mr Rajan did not have an individual life insurance policy for quite a few years. However, his organisation provided a group life insurance cover for him and other employees. Under this plan, each group member was covered for Rs 5 Lakh. Hence, if something unfortunate happened to Mr Rajan, his family would be financially protected by the sum assured from the group life insurance coverage. As for his employer, the premiums under a group life insurance plan proved to be quite affordable.
Group insurance plans are of two types:
Under the contributory group insurance plan, the group members pay the full or partial premium towards the policy to enjoy the benefits of the life insurance cover. Under these plans, some employers may deduct some amount of the insurance premium from the employee’s salary as the premium.
In this type of group insurance plan, the employees or group members do not pay the premiums towards the policy to enjoy the benefits of the life insurance cover. Here, the employer pays the premium for the employee's insurance cover, thus making it a non-contributory cover.
Group insurance plans from Tata AIA Life Insurance offer unique life insurance as well as credit and loan protection solutions so that all the group members can enjoy insurance benefits and stay protected cost-effective manner.
A combo insurance policy is a comprehensive insurance plan that offers you the benefit of a Unit-Linked Insurance Plan, a savings plan, and a life insurance cover. Such plans consist of two or life insurance policies under a single solution and can help you create a complete financial plan with this solution. At the end of the policy term, you can avail of a guaranteed return on your investment.
A combo insurance plan is not only flexible in terms of the policy term and the premium payment term but also lets you choose how you would like to receive the payouts on the returns. With a Tata AIA Life Insurance combo plan, you can choose between regular income or endowment options.
Since your insurance, savings, and investment needs can change throughout your life, a combo plan can save you from the hassle of getting three different life insurance plans to cover your varying insurance needs. A single combo policy can be much more cost-effective and also save you a lot of time. Moreover, managing premium payments for multiple plans can be cumbersome, and that is something you can avoid by paying a single premium under a combo plan.
Mr Sudhakar purchased a life insurance plan, a ULIP, and a savings plan to target all of his insurance needs. However, over the course of time, he realised that not only was it getting difficult to keep track of the premium payments but that the policy tenure of all three plans was not in sync with his life goals.
On the other hand, Mr Prabhakar chose a combo insurance plan which helped him with a life cover, his investments as well as long-term savings. All he had to do was choose a policy term and the premium payment term of his choice and pay a single premium for all three policies. This turned out to be cheaper than having to pay for three policies, and at the end of the policy term, Mr Prabhakar enjoyed regular income payout from his combo plan, as per his choice.
Tata AIA Life Insurance offers a secure insurance plan, which gives you the benefits of a Unit-Linked Insurance Plan, a savings plan and a life insurance cover under one solution:
The ULIP policy of the combo plan helps you create an investment plan through your choice of funds available under the policy. With the help of the market-linked returns on the ULIP plan, you can plan your future investments or major financial goals and fulfil your family's financial needs.
The savings policy under a combo plan offers guaranteed returns on the policy when you save your money systematically over the long term. The guaranteed returns added to the returns from the ULIP plan can be useful for fulfiling any major financial commitments you and your family may have over the long term.
While investing and saving your wealth with the combo plan, you can simultaneously enjoy life insurance coverage without having to buy another insurance policy. In case you do not survive the policy term, the financial needs of your family will be secured by the guaranteed sum assured paid out as a death benefit.
Tata AIA Life Insurance presents a unique solution that combines savings, life insurance and a unit-linked insurance plan under a single policy to help you build a robust wealth plan for your future with multiple benefits to choose from.
Here are some ways how to select a life insurance policy in India:
Before you purchase a life insurance plan, it is advisable to map out your goals and financial plan so that you can decide which life insurance policy will help you meet your needs. Any major expenses, medical expenses, your family’s daily sustenance, and others are the factors that will need to be considered.
If you are looking for simple life insurance coverage, a term plan is a good pick, while a savings plan helps save money over the long term. Similarly, if you have certain investment goals, then a ULIP policy would be a good choice for a life insurance policy. And if you want a retirement plan, then you can go for an annuity plan.
The sum assured or the total coverage offered by the policy is important as you would want to ensure that your needs, as well as your family’s needs, can be taken care of. In case of your untimely death, the death benefit sum assured should be able to keep your family financially secure for the years to come.
Buying a life cover insurance policy should not be a hurried decision. Take time to compare the insurance plans so that you can compare all the benefits, features, and exclusions of all policies, and then take a call on which one you should pick. By comparing policies, you can easily carry out a cost-benefit analysis which can be helpful.
The insurance provider you buy your life insurance policy from should have a high claim settlement ratio. This will indicate that the insurance provider will be able to settle your claims on time and in full in case of an unfortunate situation. Low claim settlement ratios can lead to unpaid and delayed claims.
You can add at least one or a few riders to your life insurance policy. Though the life insurance coverage is sufficient for you and your family, a rider provides additional coverage for specific emergencies for a nominal premium. That way, you can be protected against an emergency without disturbing your policy.
Your insurance coverage may be enough for your needs but keep it aside for other purposes such as taking care of your family or your child’s education. In case of a medical emergency, you can add a rider to your policy on the policy anniversary, providing additional coverage against such events.
If you feel that a certain foreseeable emergency cannot be tackled by your life insurance sum assured alone, then you should add your choice of riders to your policy. With an appropriate rider, you will be able to receive coverage against a health emergency or a critical illness without disturbing the base sum assured.
In case you are aware of your family’s medical history and want to ensure that a medical emergency does not drain your savings or life insurance sum assured, then it would be advisable to opt for a critical illness cover that can protect you against any of the listed critical illnesses under the insurance rider.
A health rider that covers hospitalisation costs, as well as major and minor accidental injuries, can be a wise option if you work in a high-risk profession such as mining, diving, construction, etc. That way, in case of an unfortunate mishap, the hospitalisation costs can be covered with the rider.
While there are many life insurance riders, you will not need to add all of them to your policy in one go. First, choose which rider is most suitable for your needs, and then if you feel the need to include another rider in your insurance policy, you can do so in the upcoming policy year.
Riders come at an additional but nominal premium which is convenient as you can still keep your policy premiums affordable. Some riders may be more expensive than others, but if you choose only the ones based on your needs, you can avoid expensive premiums.
Riders also have terms and conditions such as their term not exceeding that of the base policy, how much they payout and so on. When choosing an insurance rider, take a look at these clauses so that when you need to use the rider, you should be able to get the most out of it.
Our experts are happy to help you!
~~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.
*”Guaranteed Annual Income” shall be a fixed percentage of the Annualised Premium / Single Premium (excluding discount) payable in a year. Guaranteed Annual Income as per the chosen Income Frequency shall commence after maturity till the end of the Income Period, irrespective of survival of the life insured(s) during the Income Period.
**Under Life Plus Option, an amount equal to the 105% of the Total Premiums Paid (excluding loading for modal premiums) shall be payable at the end of the Policy Term, provided the life assured survives till maturity and the policy is not terminated earlier.
^on a 5 year basis as of December 2021
^^Applicable for specific plan options. Please refer brochure for additional details.
~©2020 Morningstar. All rights reserved. The Morningstar name is a registered trademark of Morningstar, Inc. in India and other jurisdictions. The information contained here: (1) includes the proprietary information of Morningstar, Inc. and its affiliates, including, without limitation, Morningstar India Private Limited (“Morningstar”); (2) may not be copied, redistributed or used by any means, in whole or in part, without the prior, written consent of Morningstar; (3) is not warranted to be complete, accurate or timely; and (4) may be drawn from the data published on various dates and procured from various sources and (5) shall not be construed as a n offer to buy or sell any security or other investment vehicle. Neither Morningstar, Inc. nor any of its affiliates (including, without limitation, Morningstar) nor any of their officers, directors, employees, associates or agents shall be responsible or liable for any traducing decisions, damages or other losses resulting directly or indirectly from the information
#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 ( UIN: 110B045V01) and Tata AIA Vitality Protect ( UIN: 110B046V01) are available with Tata AIA Life Insurance Fortune Guarantee Plus (UIN: 110N158V06), Tata AIA Life Insurance Smart Value Income Plan (UIN: 110N162V01), Tata AIA Life Insurance Guaranteed Return Insurance Plan (UIN: 110N152V10), Tata AIA Life Insurance Fortune Guarantee (UIN:110N120V09), Tata AIA Life Insurance Sampoorna Raksha Supreme (UIN: 110N160V03), Tata AIA Life Insurance Maha Raksha Supreme (UIN: 110N102V04)
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.
+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.
^^^Available under Regular Income with an Inbuilt Critical Illness Benefit option
1Medical 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.
2Return 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.
3All Premiums, Charges, and interest payable under the policy are exclusive of applicable taxes, duties, surcharge, cesses or levies which will be entirely borne/ paid by the Policyholder, in addition to the payment of such Premium, charges 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.
4The word Guaranteed and Guarantee means the annuity payout is fixed at inception of the policy and will be payable for whole of life or till death of the Annuitant(s).
5Allowed only where the product is bought through Tata AIA Life Insurance company website without any intermediary being involved and as per preference of the prospect
6Individual Life Claim Settlement Ratio is 98.53% for FY 2021 - 22 as per the latest annual audited figures.
7 Retail Sum Assured for FY22 is Rs 3,07,804 Cr
8As on 30th August 2022, the company has a total Assets Under Management (AUM) of Rs. 62,894 Crore
Claims beyond three years from the date of issuance of policy or the date of commencement of risk or the date of revival of the policy or the date of the rider to the policy, whichever is later. Subject to all the relevant terms and conditions of the policy contract.
Claim Processing - All the relevant terms and conditions of the policy contract, including provisions in respect to claim procedure shall apply. Unit linked products; policies with unclaimed amounts or last premium payment not cleared are excluded.
9Applicable to only non-early claims with more than 3 years of policy duration, non-investigation cases, up to Sum Assured of Rs. 50 Lakh. Applicable for branch walk in. Time limit to submit claim to Tata AIA Life Insurance is 2 pm on working days. Subject to submission of complete documents. Not applicable for ULIP policies and open title claims.
10 68,75,083 families protected till October 2022
IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER
THE LINKED INSURANCE PRODUCT DO NOT OFFER ANY LIQUIDITY DURING THE FIRST FIVE YEARS OF THE CONTRACT. THE POLICY HOLDER WILL NOT BE ABLE TO SURRENDER/WITHDRAW THE MONIES INVESTED IN LINKED INSURANCE PRODUCTS COMPLETELY OR PARTIALLY TILL THE END OF THE FIFTH YEAR.
Past performance is not indicative of future performance.
All investments made by the Company are subject to market risks. The Company does not guarantee any assured returns. The investment income and price may go down as well as up depending on several factors influencing the market.
Please make your own independent decision after consulting your financial or other professional advisor.
Insurance cover is available under this product. For more details on risk factors, terms and conditions please read Sales Brochure carefully before concluding a sale.
In case of sub-standard lives, extra premiums will be charged as per our underwriting guidelines.
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.
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.
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.