Tata AIA Life Insurance Smart Income Plus

On death of the Life Assured during the policy term, provided the policy is in-force as on the date of death and all due premiums have been paid; Sum Assured on death shall be payable irrespective of the Survival Benefits already paid.

“Sum Assured on death” shall be the highest of the following:

• Eleven (11) times of Annualized Premium
• 105% of the Total Premiums Paid up to the date of death
• Minimum Guaranteed Sum Assured on Maturity
• Absolute amount assured to be paid on death

Where,

“Minimum Guaranteed Sum Assured on Maturity” refers to the absolute amount of benefit which is guaranteed to become payable on maturity of the policy. Minimum Guaranteed Sum Assured on Maturity is equal to 'Guaranteed Maturity Payout (GMP)' for Option II and 'Guaranteed Maturity Payout (GMP)' plus final Guaranteed Payout (GP) in case of Option I.

“Annualized premium” shall be the premium amount payable in a year chosen by the Policyholder, excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any. “Total Premiums paid " means total of all the premiums received, excluding any extra premium, any rider premium and taxes.

Applicable taxes, cesses and levies shall be collected separately over and above the Policy premiums.

Absolute amount assured to be paid on death is the Basic Sum Assured.

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 implication mentioned anywhere on this site. Please consult your own tax consultant to know the tax benefits available to you.

If you are not satisfied with the terms & conditions/ features of the policy, you have the right to cancel the policy by giving written notice to Tata AIA Life stating objections/reasons and receive all the premiums paid without interest after deducting (a) proportionate risk premium for the period of cover (b) medical examination costs, if any and (c) stamp duty, along with applicable taxes, cesses and levies which have been incurred for issuing the policy. Such notice should be signed by the policyholder and received directly by Tata AIA Life within 15 days after the policyholder receives the policy document. The said period of 15 days shall stand extended to 30 days, if the policy is sourced through distance marketing, electronic mode or email; which includes solicitation through any means of communication other than in person

In case of death due to suicide within 12 months from the date of commencement of risk under the policy or from the date of revival of policy, as applicable, the nominee or beneficiary of the policyholder shall be entitled to at least 80% of the total premiums paid till the date of death or the surrender value available as on the date of death whichever is higher, provided the policy is in force

Option I: Regular Income

Provided the Policy is in-force and all due premiums have been paid, an amount equal to the Guaranteed Maturity Payout (GMP) will be paid as a lump sum at Maturity. The last instalment of GP will be paid along with the above mentioned Maturity Benefit. The GMP will be equal to GMP multiplied by Annualized Premium. The GMP factors will vary as per the age at entry, gender and premium payment term selected as mentioned in the table below:

For Male lives:

Guaranteed Maturity Payout as % of Annualised Premium
Age# Band | Premium Payment Term	7 years	10 years	12 years
Minimum Age to 10	161%	316%	401%
11 to 15	162%	318%	405%
16 to 20	158%	312%	397%
21 to 25	155%	308%	392%
26 to 30	153%	305%	388%
31 to 35	145%	296%	381%
36 to 40	130%	279%	367%
41 to 45	103%	246%	328%
46 to 50	46%	178%	238%

For Female lives:

Guaranteed Maturity Payout as % of Annualised Premium
Age# Band ( in years) | Premium Payment Term	7 years	10 years	12 years
Minimum Age to 10	143%	300%	380%
11 to 15	164%	321%	408%
16 to 20	160%	315%	401%
21 to 25	156%	310%	395%
26 to 30	155%	307%	391%
31 to 35	150%	302%	385%
36 to 40	140%	290%	377%
41 to 45	121%	269%	356%
46 to 50	74%	224%	301%

^#Age on last birthday

Option II: Endowment

Provided the policy is in-force and all due premiums have been paid, the Minimum Guaranteed Sum Assured on Maturity which is equal to the Guaranteed Maturity Payout (GMP) will be paid at Maturity. The amount of benefit shall be equal to the Guaranteed Payout paid under Option II.

Option I: Regular Income

• Guaranteed Payouts (GP)

Provided the Policy is in-force and all due premiums have been paid, Guaranteed Payouts (GP) as a percentage of the Annualised Premium (AP) shall be payable annually. The Income shall commence from the end of Policy year 9/12/14 for premium paying terms 7 / 10 / 12 years respectively and shall be payable till Maturity as mentioned in the table below.

The GP factors vary by the chosen premium paying term and are independent of age and gender:

Policy Term/Premium Payment Term ( in years)	15/7 years	21/10 years	25/12 years
Guaranteed Payouts as % of the AP	120%	140%	160%

Option II: Endowment

Provided the Policy is in-force and all due premiums have been paid, a Guaranteed Payout (GP) determined as a multiple of the Annualised Premium will be paid at the end of Policy year preceding the year of Maturity.
The GP factors vary by the chosen premium payment term, age and gender as mentioned in the table below:
For Male lives

Guaranteed Payout as multiple of Annualised Premium
Age# Band ( in years) | Premium Payment Term	7 years	10 years	12 years
Minimum Age to 10	5.57	10.28	14.92
11 to 15	5.58	10.39	15.03
16 to 20	5.57	10.38	15.02
21 to 25	5.56	10.37	15.02
26 to 30	5.55	10.36	15.01
31 to 35	5.53	10.36	15.00
36 to 40	5.49	10.35	14.97
41 to 45	5.41	10.32	14.81
46 to 50	5.26	10.23	14.50

For Female lives:

Guaranteed Payout as multiple of Annualised Premium
Age# Band ( in years) | Premium Payment Term	7 years	10 years	12 years
Minimum Age to 10	5.52	10.20	14.78
11 to 15	5.59	10.40	15.04
16 to 20	5.57	10.39	15.03
21 to 25	5.56	10.38	15.02
26 to 30	5.55	10.37	15.02
31 to 35	5.54	10.36	15.01
36 to 40	5.51	10.36	15.00
41 to 45	5.46	10.35	14.92
46 to 50	5.36	10.29	14.71

^#Age on last birthday