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Unforeseen events cannot be predicted, but you can protect the financial future of yourself and your loved ones with Tata AIA Life Insurance Waiver of Premium (Linked) Rider.
In case you are diagnosed with Total and Permanent Disability (TPD) due to an unfortunate accident or illness, this rider ensures that your life insurance benefits will continue by waiving future premiums of the base plan. Hence you can focus on your recovery without the added stress of paying future premiums. Rider can be attached with multiple products such as TATA AIA Life Insurance Wealth Pro and TATA AIA Life Insurance Fortune Pro.
Provides complete coverage in the event of Total Permanent Disability (TPD) which includes inability to work, loss of limbs or sight, and loss of independent living.
In case of diagnosis of Total Permanent Disability (TPD), the future premiums of the base plan are waived off.
The premium waiver lasts for the premium payment term or until the age of 65 years, whichever is earlier.
This rider is available to purchase from entry age of 18 to 60 years
Get tax benefits as per applicable income tax# laws
Provides assurance that the insurance policy will remain active in case of Total Permanent Disability.
Minimum Entry Age | Minimum age at entry under base product or 18 years whichever is higher |
Maximum Entry Age | Maximum age at entry under Base product or 60 years whichever is lower |
Maximum Maturity Age | Age till the end of Premium Paying Term of basic plan or 65 years whichever is lower |
Minimum Rider Coverage Term | 5 years |
Maximum Rider Coverage Term | Till premium payment term of the basic plan or until the Insured reaches age 65 whichever is earlier |
Rider Charge Deduction Term | Same as Maximum Rider Coverage Term |
Minimum/ Maximum Sum Assured | Sum of all the future premiums of the basic plan to be waived |
Rider Charge | The charge for the rider will be recovered monthly by cancellation of units from the unit fund of base policy |
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Disclaimers
Tata AIA Life Insurance Waiver of Premium (Linked) Rider - Linked, Individual, Health Insurance Rider (UIN: 110A026V03)
Riders are not mandatory and are available for a nominal extra cost. For more details on the benefits covered, rider charges and exclusions under the Riders please refer to the Rider Brochure or contact our Insurance Advisor/Intermediary or visit our nearest Branch Office.
# 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 benefits available to you.
This Rider is underwritten by Tata AIA Life Insurance Company Ltd. This Rider is not a guaranteed issuance Rider, and it will be subject to Company’s underwriting and acceptance.
Rider is available with following products:
Name of the Product |
Tata AIA Life Insurance Wealth Maxima - Non-Participating, Unit Linked Individual Life Insurance Savings Plan (UIN: 110L114V05 or subsequent versions) |
Tata AIA Life Insurance Wealth Pro - Non-Participating, Unit Linked Individual Life Insurance Savings Plan (UIN:110L111V05 or subsequent versions) |
Tata AIA Life Insurance Fortune Maxima - Non-Participating, Unit Linked Individual Life Insurance Savings Plan (UIN: 110L113V09 or subsequent versions) |
Tata AIA Life Insurance Fortune Pro - Non-Participating, Unit Linked Individual Life Insurance Savings Plan (UIN:110L112V07 or subsequent versions) |
Tata AIA Life Insurance i Systematic Insurance Plan- Non-Participating, Unit Linked Individual Life Insurance Savings Plan (UIN:110L164V04 or subsequent versions) |
Tata AIA Life Insurance Smart Sampoorna Raksha Pro - Non- Participating, Unit Linked, Individual Life Insurance Savings Plan (UIN:110L172V02 or subsequent versions) |
Tata AIA Life Insurance Smart Health - Non-Participating, Unit Linked Individual Health Insurance Plan (UIN:110L168V03 or subsequent versions) |
Tata AIA Life Insurance Smart SIP - Non-Participating, Unit Linked Unit Linked Individual Life Insurance Savings Plan (UIN:110L174V01 or subsequent versions) |
Tata AIA Life Insurance Smart Fortune Plus- Non-Participating, Unit Linked, Individual Life Insurance Savings Plan (UIN:110L177V01 or subsequent versions) |
Participation by customers shall be on voluntary basis. For more details on risk factors, terms and conditions please read Sales Brochure carefully before concluding a sale.
All Premiums are subject to applicable taxes, cesses & levies which will entirely be borne by the Policyholder and will always be paid by the Policyholder along with the payment of Premium. If any imposition (tax or otherwise) is levied by any statutory or administrative body under the Policy, Tata AIA Life Insurance Company Limited reserves the right to claim the same from the Policyholder. Alternatively, Tata AIA Life Insurance Company Limited has the right to deduct the amount from the benefits payable by Us under the Policy.
Insurance cover is available under the Tata AIA products and are underwritten by Tata AIA Life Insurance Company Limited.
For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale.
L&C/Advt/2024/Oct/3205