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- Tata AIA Life Insurance Wealth Pro
IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER.
The linked insurance products 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.
A Unit Linked, Individual Life Insurance Savings plan that helps grow your money into wealth so that your dreams and aspirations never fall short of resources. Wealth Pro provides protection to your family and helps meet your retirement and child education needs.
BSLI Wealth Secure Plan
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Key Features
- Pay premiums once or for a limited period and get Insurance protection throughout policy term
- Regular Loyalty Additions1 are credited to the policy to boost your investments
- Flexibility to choose from various fund options for enhanced investment opportunities
- Choice of Enhanced Systematic Money Allocation & Regular Transfer Investment Portfolio Strategy
- Top-up facility to further augment your portfolio
- Flexibility of Partial Withdrawals after five policy years to meet your financial needs
- Settlement option is provided on Maturity thus enabling you to receive the maturity amount either in lump sum or in installments over a period of time
On survival to the end of the policy term, you will receive the Total Fund Value which is sum of Regular/ Single Premium Fund Value and Top-Up Premium Fund Value valued at applicable NAV on the date of Maturity.
For Regular and Limited Pay - from 11th policy anniversary till the end of the policy term, Tata AIA Life will credit additional units at the rate of 0.20% of the units to the respective funds
For Single Pay - from 6th policy anniversary till the end of the policy term, Tata AIA Life will credit additional units at the rate of 0.35% of the units to the respective funds
Upon the unfortunate demise of the life insured prior to maturity, Tata AIA Life shall pay the nominee/legal heir the highest of
-
- The Basic Sum Assured net of all “Deductible Partial Withdrawals”, if any, from the Regular/Single Premium Fund Value, or
- The Regular/Single Premium Fund Value of this Policy or
- 105 percent of the total Regular/Single Premiums paid up to the date of death
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 the non – allocated premiums plus charges levied by cancellation of units plus fund value at the date of cancellation less (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. The units will be repurchased by the company at the price of the units on the date of cancellation and any surplus or deficit shall be adjusted in the payout to the Policyholder. 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 the risk or date of revival of the policy, the nominee or beneficiary of the policyholder shall be entitled to total fund value / policy account value, available on the date of intimation of death. Any charges, other than fund management charge, recovered subsequent to the date of death shall be paid back to the nominee or beneficiary along with death benefit
0 years (30 days) to 60 years
75 years
15 to 40 years
Single Pay
Limited Pay – 5 /7 and10 years
Regular /Limited Pay – 15 and 20 years
Single, Annual, Semi-Annual, Quarterly and Monthly
Single Pay - Rs.5,00,000
Regular / Limited Pay - Rs.2,50,000 per annum
No Limit
Click here for the Product Brochure.
Click here for Product specific disclaimers.
L&C/Advt/2021/Jan/0002
Axis Bank Limited ("Axis Bank") is registered with Insurance Regulatory & Development Authority of India ("IRDAI") as a Corporate Agent (Composite), IRDAI Registration No. CA0069 (valid till 31st March 2025) for distribution of Insurance Products. Axis Bank currently has a corporate agency agreement with (A) Max Life Insurance Co. Ltd, Life Insurance Corporation of India (LIC), Tata AIA Life Insurance Co. Ltd. and Bajaj Allianz Life Insurance Co. Ltd. for distribution of life insurance products; (B) Tata AIG General Insurance Co. Ltd, New India Assurance Co. Ltd, Bajaj Allianz General Insurance Co. Ltd, Royal Sundaram General Insurance Co. Ltd and ICICI Lombard General Insurance Co. Ltd for distribution of general insurance products. For distribution of health insurance products, Axis Bank has a corporate agency agreement with Aditya Birla Health Insurance Co. Ltd, HDFC ERGO General Insurance Co. Ltd and Niva Bupa Health Insurance Co. Ltd.
You can avail insurance from any of these insurers through Axis Bank as per your requirement and discretion. Please note that insurance is underwritten by the respective Insurance Companies and Axis Bank does not underwrite the risk or act as an insurer. The contract of insurance is between the Insurance Company and the insured only, and not between Axis Bank and the insured. Axis Bank is only acting as a distributor of the insurance products offered to by the insurance companies.
Axis Bank is not responsible or liable for performance of any obligations under the contract of insurance. Insurance is sold as a stand-alone product and not linked to any of the Banking products. Participation in Insurance is purely on a voluntary basis. Purchase of Insurance is not a pre-condition of availing any of the banking products/services.
The product information given on the website is indicative in nature. Nothing contained herein is to be construed as advice, recommendation, offer for a policy or any other assistance. Axis Bank does not guarantee that this website reflects latest amendments/ information at all times or at any time. For IRDAI grievances: igms.irda.gov.in. For more details on risk factors, product details, terms and conditions and exclusions please read the relevant product brochure carefully before conclusion of sale.
Address: Axis Bank Limited, Corporate Office, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai - 400 025. Tel: 18604195555. Email: email.services@axisbank.com
Beware of Spurious Phone calls and Fictitious/Fraudulent offers: IRDA of India clarifies to public that:
- 1. IRDA of India or its officials do not involve in activities like sale of any kind of insurance or financial products nor invest premium.
- 2. IRDA of India does not announce any bonus, Public receiving such phone calls are requested to lodge a police complaint.
SECTION 41 OF THE INSURANCE ACT 1938 PROHIBITION OF REBATES
- No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take out or renew or continue an Insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy nor shall any person taking out or renewing or continuing a Policy accept any rebate, except such rebate as may be allowed in accordance with the published prospectus or tables of the Insurer.
- Any person making default in complying with the provisions of this section shall be liable for penalty which may extend to ten lakh rupees.