Unique Reference No.: L&C/Advt/2010/Dec/396
Tata AIG Life Insurance Company Ltd. (Reg.110),
Registered & Corporate Office :Delphi - B Wing, 2 Floor, Orchard Avenue,
Hiranandani Business Park, Powai, Mumbai 400 076
Visit us at www.tata-aig-life.com or call toll-free on 1800-11-9966
[For MTNL/BSNL subscribers]
Insurance is the subject matter of the solicitation.
• Provide a dual benefit i.e. pay death benefit to the
nominee in case of death of insured and policy benefits
Tata AIG Life Insurance Gyan Kosh will continue
A treasure chest that ensures fulfillment of your dreams • Waive all future regular premiums in case of death or
total permanent disability of the insured
ä Options to choose any one of the following waiver of
IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT premium (WoP) benefits
PORTFOLIO IS BORNE BY THE POLICYHOLDER
• Family Guard3 - Get 100% of the future premiums paid
into your policy as if the policy is on monthly mode,
Knowledge is treasure. One of our most important
responsibilities as a parent is to empower our children • Family Advantage4 - Get 50% of future premiums paid
with the best possible education that will give them a into your policy as if the policy is on monthly mode and
head-start in life. Our dreams for our children don't just 50% as cash payouts to the policyholder/nominee that
include education; they extend to other milestones in their acts as a supplementary income to the family'.
lives like marriage or even setting up a business. One 1
ä In addition, the Security Net option provides your family
needs an investment avenue that takes care of their
with a readjustment income of 1% of Basic Sum Assured
educational expenses and other financial responsibilities
for 100 months or till end of policy term, whichever is
towards our loved ones. One also needs a plan that
earlier, on death or total permanent disability5
ensures that in the unfortunate event of the death or
disability of life insured, the journey of the loved ones ä Guaranteed Maturity Addition paid on maturity
towards success and happiness is not hampered by any
ä Choice of 7 investment funds and 2 portfolio strategies
ä 3 riders for 'added protection’
Presenting, Tata AIG Life Insurance Gyan Kosh, a non-
participating unit linked endowment insurance plan with
in-built benefits that ensures your savings for your child Eligibility Criterion
and all your near and dear ones continue to be protected Entry Age 18 years to 50 years
even in case of unfortunate events. This plan has two
options to choose from: Security Net - in which future Maximum Maturity Age 65 years
premiums are waived and a readjustment income, in the Policy Term 15 to 25 years
form of Family Income Benefit is provided to your family
Premium Paying Term Same as policy term
and Safety Net - in which future premiums are waived.
These benefits are applicable in case of unfortunate Minimum Premium Security Net Option1
demise as well as total permanent disability of the life `30,000 p.a. for Annual Mode
assured. `36,000 p.a. for Other Modes
Invest in Tata AIG Life Insurance Gyan Kosh today and Safety Net Option2
cement your near and dear one's journey to success. `20,000 p.a. for Annual Mode
Key features `24,000 p.a. for Other Modes
ä Two protection options to choose from Minimum Sum Assured • for Insured's Age < 45 years :
Higher of (10*Annualised
• Security Net1: with inbuilt Waiver of Premium and Premium or 0.5*Policy Term*
Family Income Benefit Annualised Premium)
• Safety Net2: with inbuilt Waiver of Premium Benefit • for Insured Age>= 45 years :
Higher of ( 7* Annualised
ä In both the options, we will Premium or 0.25*Policy Term*
Maximum Sum Assured Policy Term* Annualised Premium
I. What are the Benefits available under this plan? This chart provides an overview of the benefits offered.
Please read the sections Death Benefit, Disability Benefit and
This non-participating unit linked endowment insurance
Maturity Benefit below, carefully for further details
plan offers the following benefits:
Please refer to point (a) under Security Net1 and Safety Net2
Protection Benefit Options available $
below for details.
Total Fund Value is equal to the value of the Regular
Premium Fund and the value of the Top-Up Fund (if any)
(Inbuilt Waiver of Premium and Family Income Benefit)
valued at applicable unit price.
The benefit options available - Security Net / Safety Net and
On On further Family Guard / Family Advantage are to be chosen at
Death Total Permanent Disability policy inception and cannot be changed during the policy term.
Sum Assured Paid#
In case of your unfortunate demise while the policy is in
Plus force, basis the option you have chosen, we will:
All Future Premiums Waived and Policy Benefits Continue 1
Security Net - Inbuilt Waiver of Premium Benefit (WoP)
+ Family Income Benefit (FIB)
• Family Guard3 - 100% of future regular premiums paid into
the policy OR a) Pay to the nominee the Higher of (Basic Sum Assured or
• Family Advantage4- 50% of future regular premiums paid 105% of the Total Regular Premiums paid). In addition,
into the policy & 50% paid to the policy holder /nominee we will pay higher of (Approved Top-Up Sum Assured(s)
or 105% of the Total Top-Up Premiums paid), if applicable
b) Depending on the Waiver of Premium (WoP) selected-
1% of the Basic Sum Assured paid every month for the
next 100 months or till the end of policy Term, whichever Family Guard: we will continue your policy benefits by
is earlier5 paying 100% of the future Regular Premiums in to your
policy as if, the policy is on monthly mode up to the policy
Total Fund Value$$ paid to the policyholder/nominee OR
on Maturity 4
Family Advantage: We continue your policy benefits by
paying 50% of the future Regular Premiums in to your
OR policy as if the policy is on monthly mode. The remaining
50% are paid to the nominee as cash payouts, as if the
policy is on monthly mode up to the policy term
(Inbuilt Waiver of Premium Benefit)
c) Additionally, under the Family Income Benefit, we will
pay 1% of the Basic Sum Assured to the nominee every
On On month for the next 100 months or till the end of policy
Death Total Permanent Disability term, whichever is earlier.
d) During the period while the regular premiums are waived
# under this benefit, all policy charges (except for Mortality
Sum Assured Paid charge, Waiver of Premium charge and Family Income
Plus Benefit Charge) will be deducted as due
All Future Premiums Waived and Policy Benefits Continue e) All Rider Coverage mentioned under 'Attachable Riders'
Options available: (if chosen) will terminate.
• Family Guard3 - 100% of future regular premiums paid into
f) On completion of the policy term, Maturity Benefit will be
the policy OR
paid to the nominee.
• Family Advantage4 - 50% of future regular premiums paid
into the policy & 50% paid to the policyholder/ nominee g) No changes in investment related options such as fund
switching, premium redirection, partial withdrawal,
Plus complete withdrawal, etc. under or in relation to the
policy will be permitted after the death of the Insured.
Total Fund Value$$ paid to the policyholder/ nominee on
Safety Net - Inbuilt Waiver of Premium Benefit (WoP) c) During the period while the Regular Premiums are
waived under this benefit, all policy charges (including
a) Pay to the nominee the Higher of (Basic Sum Assured or
Mortality charge but excluding Waiver of Premium
105% of the Total Regular Premiums paid). In addition, we
charge and Family Income Benefit Charge) will be
will pay higher of (Approved Top-Up Sum Assured(s) or
deducted as due
105% of the Total Top-Up Premiums paid), if applicable.
d) All Rider Coverage mentioned under 'Attachable Riders'
b) Depending on the Waiver of Premium Benefit (WoP)
(if chosen) will terminate. However, the riders can be
reinstated if the Waiver of Premium benefit/ Family
Family Guard: we will continue your policy benefits by Income Benefit is stopped. (i.e. only after the Insured
paying 100% of the future Regular Premiums in to your does not remain such disabled.)
policy as if the policy is on monthly mode.
e) In case of survival till the end of the policy term, Maturity
OR Benefit will be paid to you. In case of your unfortunate
4 demise before the policy term, the death benefit
Family Advantage: We continue your policy benefits by
provisions would apply.
paying 50% of the future Regular Premiums in to your
policy as if the policy is on monthly mode. The remaining f) Apart from fund switching, premium redirection, partial
50% are paid to the nominee as if the policy is on monthly withdrawals and complete withdrawal, no changes
mode up to the policy term. under or in relation to the policy will be permitted during
the period that Regular Premiums are waived.
c) During the period while the Regular Premiums are
waived under this benefit, all policy charges (except for Safety Net - Inbuilt Waiver of Premium (WoP)
Mortality charge, Waiver of Premium charge) will be
a) Depending on the Waiver of Premium (WoP) Benefit
deducted as due
d) All Rider Coverage mentioned under 'Attachable Riders' 3
Family Guard: We continue your policy benefits by
(if chosen) will terminate.
paying 100% of the future Regular Premiums into your
e) On completion of the policy term, Maturity Benefit will be policy as if the policy is on monthly mode.
paid to the nominee.
f) No changes in investment related options such as fund 4
Family Advantage: We continue your policy benefits by
switching, premium redirection, partial withdrawal,
paying 50% of the future Regular Premiums into your
complete withdrawal etc under or in relation to the policy
policy as if the policy is on monthly mode. The remaining
will be permitted after the death of the Insured.
50% are paid to you as if the policy is on monthly mode
Disability Benefit up to the policy term.
In case of your total permanent disability while the policy is in b) During the period while the Regular Premiums are
force, basis the option you have chosen we will pay: waived under this benefit, all policy charges (including
Security Net - Inbuilt Waiver of Premium Benefit (WoP) Mortality charge but excluding Waiver of Premium
+ Family Income Benefit (FIB) charge) will be deducted as due
a) Depending on the Waiver of Premium Benefit (WoP) c) All Rider Coverage mentioned under 'Attachable Riders'
selected- (if chosen) will terminate. However, the riders can be
3 reinstated if the Waiver of Premium benefit/ Family
Family Guard: We continue your policy benefits by
Income benefit is stopped. (i.e. only after the Insured
paying 100% of the future Regular Premiums into your
does not remain such disabled.)
policy as if the policy is on monthly mode up to the policy
term. d) In case of survival till the end of the policy term, Maturity
Benefit will be paid to you. In case of your unfortunate
demise before the policy term, the death benefit
Family Advantage: We continue your policy benefits by provisions would apply.
paying 50% of the future Regular Premiums into your
policy as if the policy is on monthly mode. The remaining e) Apart from fund switching, premium redirection, partial
50% are paid to you as cash payouts, as if the policy is on withdrawals and complete withdrawal, no changes
monthly mode up to the policy term under or in relation to the policy will be permitted during
the period that Regular Premiums are waived.
b) Additionally, under the Family Income Benefit, we will
pay 1% of the Basic Sum Assured to the policyholder Maturity Benefit
every month for the next 100 months or till the end of On survival to the end of the policy term, you will receive the
policy term, whichever is earlier. Total Fund Value, which is equal to the value of the Regular
Premium Fund and the value of the Top-Up Fund (if any) Service tax is applicable as per governing laws and the same
valued at applicable unit price, plus Guaranteed Maturity shall be borne by the policyholder. Tata AIG Life Insurance
Addition6 (if applicable). Company Limited reserves the right to recover from the
6 Policyholder, any levies and duties (including service tax), as
Guaranteed Maturity Addition
imposed by the government from time to time.
Guaranteed Maturity Addition will be paid as a % of the
Regular Premium Fund Value as on the date of maturity as per
the table below: II. What Flexibilities does my Policy have^?
This is a regular pay policy and it is in your best interest to
Policy Term Guaranteed Maturity Addition stay invested for the entire term. This will enable you to not
15 to 19 years 1.50% only follow a disciplined savings approach, but also, enjoy all
20 years and above 3.00% the special benefits offered under the innovative product.
However, for contingency needs during the term of the
Guaranteed Maturity Addition will be paid subject to all due policy, you may avail of the partial withdrawal option.
premiums paid and Waiver of Premium / Family Income Flexibility of Partial Withdrawals:
Benefit not being triggered anytime during the policy term.
Guaranteed Maturity addition will not be payable on the In case you need money for any emergency or otherwise,
death of the Insured or total permanent disability or lapse or this plan offers you an option to withdraw from your fund.
complete withdrawal of the policy or on the Top-Up Fund The withdrawals from regular premium fund are allowed
Value under the policy (if applicable). after five anniversaries from the date of issuance of your
policy, provided policy is in force. Minimum partial
Your Benefit Illustration# withdrawal is `5,000 subject to Total Fund Value post such
The table below gives the Maturity Benefit for a Healthy withdrawals is not less than an amount equivalent to one
Person aged 35 years year's Annualised Regular Premium.
• Fund Allocation: 50% in Large Cap Equity Fund and 50% Partial Withdrawals should be made first from the Top-Up
in Whole Life Mid Cap Equity Fund Premium Fund and then from the Regular Premium Fund, if
• Annualised Regular Premium: `1,00,000 amount in the Top-Up Premium Fund is insufficient.
• Mode of payment: Annual Maximum of four (4) partial withdrawals are allowed in a
Non Guaranteed Benefits
Benefit Guaranteed Higher Rate Illustration (10%) Lower Rate
Benefits Illustration (6%)
Policy Term$ Annual Regular Premium Basic Sum Maturity Net Yield** Maturity
Premium (`) Multiple Assured Benefit# (`) @ 10% Benefit# (`)
15 1,00,000 10 10,00,000 28,58,863 8.38% 20,26,429
25 1,00,000 12.5 12,50,000 76,41,301 8.60% 40,75,169
15 1,00,000 10 10,00,000 29,05,022 8.38% 20,59,663
25 1,00,000 12.5 12,50,000 79,13,958 8.60% 42,43,742
Some benefits are guaranteed and some benefits are policy year. There are no charges on partial withdrawals.
variable (Non-guaranteed) with returns based on the future Partial withdrawal from the Top-Up Premium Fund can be
performance of your Insurer carrying on life insurance allowed only after 5 policy years from the date of acceptance
business. of each such Top-Up Premium. Partial withdrawal will not be
Computation of Maturity Benefit excludes service tax. For allowed post Insured's death. Partial Withdrawals are allowed
benefit values, net of service tax, please refer to the Sales in case of Total Permanent Disability of the Insured. The
Illustration. Company may alter the partial withdrawal rules, on prior
Premium paying term is same as policy term. approval from the Insurance Regulatory and Development
Computation of the net yield excludes mortality charges, Authority.
inbuilt benefit charges and service tax on charges as Flexibility to Increase/ Decrease the Sum Assured
applicable. You have the flexibility to pay additional premium as "Top-Up
Premium" at any time , provided the policy is in force, except
during the last five years of the policy term. You can Top-Up Tata AIG Life Critical Illness (Lump sum Benefit) Rider
your policy up to four times in a policy year. The minimum (UIN: 110C012V01)
Top-Up amount is `5,000/-. Acceptance of Top-Up Premium
In case you are diagnosed with a critical illness, or need
is subject to prevailing underwriting rules. Top-Up Premiums
surgery, this benefit provides you with a lump sum amount.
will not be allowed during disability benefit period and post
The benefit covers cancer, stroke, heart attack, coronary
the death of the Insured. Every Top-Up Premium will have a
bypass graft surgery, kidney failure and major organ
Lock-in period of five years from the date of acceptance of
transplants. For this benefit to be payable, the insured needs
such Top-Up premiums.
to survive for a period of at least 30 days post the operation/
You shall be given an additional Sum Assured for every Top- diagnosis of critical illness. There is a waiting period of 180
Up Premium paid. You can choose a multiple equal to 1.25/ days from the date of issue of the rider, after which the cover
2.5/ 5/ 10 times Single Top-Up Premium if you are below 45 gets activated. While this benefit ceases after you make one
years age and 1.1/2.5/5/ 10 times Single Top-Up Premium if claim, your basic policy will be kept in force, provided you
your age is 45 and above, subject to underwriting. continue to pay the basic premiums.
Top-Up premiums are subject to charges as described under In case of death or total permanent disability of the life
"What are my Premium and Policy Charges?". insured, all the attachable riders as listed above will be
terminated without any value
You also have an option to increase or decrease the Basic
Sum Assured and Top-Up Sum Assured by way of changing Riders are not mandatory and are available for a nominal
the premium multiple and Top-Up premium multiple extra cost. For more details on the benefits, nature of
respectively, subject to underwriting and the minimum basic illnesses covered, premiums and exclusions under these
Sum Assured/Top-Up Sum Assured allowed under this riders, please contact our Insurance advisor or visit our
product as per ULIP guidelines respectively. nearest branch office.
Increase/decrease in Basic Premium is not allowed. Settlement Option
Change in Sum Assured / Top-Up Sum Assured is not Provided policyholder is alive on the maturity date, he/she
allowed during disability benefit period. has an option to receive the maturity amount either in lump
sum or in installments over a period of time. This period,
Flexibility of Premium Mode
termed as Settlement Period, may be extended up to a
You may choose to pay your premiums7 Annually, Semi- maximum of five years from the date of maturity. The
annually, Quarterly or even Monthly as per your frequency and amount of the installments will be chosen by
convenience. you at the time of maturity while exercising this option. The
7 value of such periodical payments will depend on the
Monthly Premium = 0.0833 of Annual Regular Premium,
performance of the funds selected for investment. Switching
Quarterly Premium = 0.25 of Annual Regular Premium,
and partial withdrawals (other than the aforesaid periodical
Semi-annual Premium = 0.50 of Annual Regular Premium
payments) are not available during the Settlement Period. At
subject to minimum premium conditions for each mode
any time during the settlement period, you have the option to
Flexibility of Additional Coverage8 withdraw the Total Fund Value.
Tata AIG Life Accidental Death Benefit (ADB) Rider (UIN: During Settlement Period, no life cover or other insurance
110C003V01) cover will be provided. In the unfortunate event of death, the
Total Fund Value at the time of death will be returned to the
This Rider provides for an additional benefit amount up to the
nominee. During this period, Fund Management Charges
Basic Sum Assured purchased, subject to underwriting
and Policy Administration Charge will be deducted as shown
rules, in case of death due to an accident.
under "What are my Premium and Policy Charges?"
Tata AIG Life Accidental Death and Dismemberment (Long
During this Settlement Period, the inherent investment risk
Scale) (ADDL) Rider (UIN: 110C004V01)
will be borne by the policyholder.
This coverage includes an accidental death benefit up to the ^
Conditions apply. Please contact our Insurance Advisor or
Basic Sum Assured purchased subject to underwriting rules,
visit our nearest branch office for further details
and a schedule of benefit percentages of the Basic Sum
Assured, payable in case of accidental dismemberment or III. Where is my money invested?
severe burns. A double indemnity is payable for certain
accidental deaths as described in the policy document. This product offers you the flexibility to invest in a manner
that suits your investment risk profile and individual needs.
Please note that you can either opt for Tata AIG Life
a) You can choose from the 7 investment fund options
Accidental Death Benefit rider or Tata AIG Life Accidental
Death and Dismemberment (Long Scale) rider. OR
b) Choose any of the PORTFOLIO STRATEGIES from below
i) Systematic Money Allocation & Regular Transfer Name of Fund Objective Fund Risk
(SMART) the Fund Allocation Profile
ii) Automatic Asset Allocation (AAA) Whole The primary investment Equities and Medium
Life objective of the Fund is Equity linked to High
You can choose from a variety of funds. to provide higher returns Instruments -
Your Regular Premium and Top-Up Premium (if any), net of ve in long term by investing 50-80%; Debt
premium allocation charges is invested in one or more Growth primarily in Equities Instruments-
Fund along with debt/ money 20-50%; Cash /
investment funds as per your required asset allocation. You
market instruments. Money Market
have the option to choose any or all of the 7 Funds or such Instruments-
funds as are available at the time of allocation, based on your upto 50%
preferred asset allocation.
Whole The primary investment Equities and Low to
Name of Fund Objective Fund Risk Life objective of the Fund is Equity linked Medium
the Fund Allocation Profile Stable to provide stable returns Instruments -
Growth by balancing the 30-50%; Debt
Large The primary investment Equities and High Fund investment in Equities Instruments 50-
Cap objective of the Fund is Equity linked and debt/ money market 70%; Cash /
Equity to generate long - term Instruments - instruments. Money Market
Fund capital appreciation 80 to 100%; Instruments-
from a portfolio that is Cash / Money upto 70%
invested pre-dominantly Market
Instruments Whole The primary investment Debt Low
in large cap equity and
Life objective of the Fund is Instruments- 60
equity linked securities. upto 20%
Income to generate income by to 100%; Cash
Fund investing in a range of / Money Market
debt and money market Instruments-
Whole The primary investment Equities and High
instruments of various upto 40%
Life Mid- objective of the Fund is to Equity linked
maturities with a view to
Cap generate long - term Instruments- 60
maximize the optimal
Equity capital appreciation from to 100%; balance between yield,
Fund a portfolio that is invested Cash/ Money safety and liquidity.
pre-dominantly in Mid Market
Cap Equity and Mid Cap Instruments Whole The primary investment Debt Low
Equity linked securities. upto 40% Life objective of the Fund is Instruments of
Short- to generate stable duration less
Term returns by investing in than 3 years-
Super The primary investment Equity and High Fixed fixed income securities 60 to 100%;
Select objective of the Fund is Equity Linked Income having shorter maturity Cash / Money
Equity to provide income instruments - Fund periods. Under normal Market
Fund distribution over a 60 to 100%; circumstances, the Instruments-
period of medium to Debt and Cash/ average maturity of the upto 40%
long term while at all Money Market Fund may be in the
times emphasizing the Instruments range of 1-3 years.
importance of capital - 0- 40%
appreciation. The fund The company may add/remove additional investment linked
will invest significant funds from time to time subject to prior approval from the
amount in equity and IRDA.
equity linked Under exceptional circumstances investment in Cash /
instruments specifically Money Market Instruments in all above funds may go up to
predominantly dealing in
Gambling, Lotteries/ Exceptional circumstances may include
Contests, Animal a) Global financial or credit crisis,
b) War like situation,
(Films, TV etc) Hotels, c) Political uncertainty
Sugar, Leather, Banks d) Events like Political/ Communal disturbance which
and Financial affects Indian economy and in turn impacts severely on
Institutions. Fixed Income/ Equity market.
These funds have different risk profiles based on different switch and minimum fund after switch etc. for normal
types of investments that are offered under these funds. The switching option shall be as applicable during the
returns are expected to vary according to the risk profile9. SMART
Returns are subject to market conditions. ä Any amount remaining in regular premium funds, other
than the Accumulation Fund and the Target Fund, would
b) Choose any of the PORTFOLIO STRATEGIES from continue to remain invested in those funds
ä SMART Option will not be available during
i) Systematic Money Allocation & Regular Transfer discontinuance of Premium
ä SMART Option is free of charge.
It is a systematic transfer plan that allows a customer to enter ä SMART Option will not be available for Top-Up Premium
the volatile equity market in a structured manner under the
Regular Premium Fund. ä SMART Option will not be available when Automatic
Asset Allocation is chosen
Through SMART, one can initially park their entire annual
ä A portion of total units available in the "Accumulation
allocable premium along with any existing units in any one
Fund" shall be switched automatically into the "Target
fund (chosen out of the funds of Tata AIG Life Insurance Gyan
Fund" in the following way:
Kosh). This fund is called the "Accumulation Fund".
Thereafter a defined portion out of the Accumulation Fund Monthly SMART
will get transferred to another fund (chosen out of the funds Policy Month 1 1/12 of the units available at the
of Tata AIG Life Insurance Gyan Kosh) other than the beginning of Policy Month 1
accumulation fund on a monthly basis. This fund is called the
"Target Fund" Policy Month 2 1/11 of the units available at the
beginning of Policy Month 2
The "Accumulation Fund" and "Target Fund" are not
Policy Month 6 1/ 7 of the units available at the beginning
segregated funds offered under this product but are the
of Policy Month 6
names used to reflect the investment strategy under the
"SMART". Policy Month 11 1/2 of the units available at the beginning
of Policy Month 11
Thus, while the stock market remains volatile and
unpredictable, SMART Investment offers a systematic way of Policy Month 12 Balance units available at the beginning
rupee cost averaging. However, all investments through this of Policy Month 12
option are still subject to investment risks, which shall We may refuse request for SMART, or cease offering SMART
continue to be borne by you. by giving 30 days of written notice subject to prior approval
The following are the notable features of SMART:- of Insurance Regulatory and Development Authority
ä SMART can be availed at the option of the policyholder, ii) Automatic Asset Allocation (AAA)
exercisable at policy Inception or on any policy Generally, with the increase in age, our risk appetite
anniversary. Request to commence, change or restart decreases. Automatic Asset Allocation is a unique feature
SMART should be received 30 days in advance of the that takes care of your portfolio and changes its allocation as
policy anniversary. The request, if acceptable by the per your age in such a way that you reap maximum returns
Company shall take effect on the following policy with adjustment to risk exposure of your portfolio.
anniversary. You can opt for this option anytime which will automatically
ä SMART option is available only to the policies with the distribute your investment into two funds with different risk
Annual Mode of payment profile and fund objectives. Large Cap Equity Fund and
ä The automatic fund switches in the SMART option is Whole Life Income Fund are the two funds in which your
available out of the 24 free switches investment will be distributed depending on your age. Age
wise table is given below:
ä The policyholder will have the option to stop the SMART
Your funds will be allocated in the following manner:
at any point of time by a written request and it shall take
effect from the next policy monthly anniversary that Fund Allocation details at policy inception and during
follows our receipt. policy term
ä Manual fund switching for the funds (Accumulation and Age Band^ Large Cap Equity Whole Life Income
Target) on which SMART is active is not allowed. Manual Fund Fund
fund switching is however allowed on other available
18 - 25 85% 15%
funds at applicable charges. For Top-Up premiums,
manual switching option will be available at applicable 26 - 30 80% 20%
charges. Conditions regarding switch fee, minimum 31 - 35 75% 25%
Age Band^ Large Cap Equity Whole Life Income anniversary of your policy following your birthday and
Fund Fund not on your actual birthday.
36 - 40 70% 30% 8) Automatic Asset Allocation Option will not be available
41 - 45 65% 35% when SMART is chosen.
46 - 50 60% 40% 9) The policyholder will have the option to stop the AAA at
51 - 55 55% 45% any point of time by a written request and it shall take
56 - 60 50% 50% effect from the next policy monthly anniversary that
follows our receipt.
61 - 65 45% 55%
We may refuse request for Automatic Asset Allocation or
The Age band refers to the age at last birthday cease offering Automatic Asset Allocation by giving 30 days
of written notice subject to prior approval of Insurance
On approaching maturity age, to ensure capital protection so
Regulatory and Development Authority.
that short term market volatility at the time of maturity does
not impact the investments, we will systematically transfer IV. How is the NAV calculated?
your investments from Large Cap Equity Fund to Whole Life
The NAV per unit or Unit Price will be calculated as:
Income Fund in 10 installments during the last 10 quarters of
the policy term. Unit Price / Net Asset Value per unit = (Market/Fair Value of
the investments held by the Unit Fund+ Expenses incurred in
The fund allocation might get changed due to market ups &
the purchase of the assets + Value of Current Assets
downs. Every policy quarterly anniversary, the investments
+Accrued income net of fund management charges -
in the two funds will be rebalanced based on the current age
Current Liabilities and Provisions) / Total No. Of Units existing
as on the quarterly policy anniversary and the fund allocation
in the Unit Fund as on the valuation date
percentage for that age band.
However, when the Company is required to sell assets to
The Automatic Asset Allocation can be chosen for both
redeem the units, the NAV per unit/ Unit Price will be
Regular Premium and Top-Up Premium accounts. A separate
service request would be required by Company, if
policyholder wishes to apply for Automatic Asset Allocation Unit Price / Net Asset Value per unit = (Market/Fair Value of
on Top-Up Premium account. the investments held by the Unit Fund - Expenses incurred in
the sale of the assets + Value of Current Assets + Accrued
Other rules for Automatic Asset Allocation:
income net of fund management charges - Current Liabilities
1) Automatic Asset Allocation can be availed at the option and Provisions) / Total No. Of Units existing in the Unit Fund
of the policyholder, exercisable at policy inception on as on the valuation date.
any policy anniversary. Request to start the Automatic
The Net Asset value (NAV) per Unit/Unit price will be
Asset Allocation should be received 30 days in advance
determined and published daily in various financial
of the policy anniversary. You can discontinue this option
newspapers and will also be available on www.tata-aig-
any time during the term of the plan.
life.com, the official website of Tata AIG Life. All you have to
2) Any amount remaining in Regular Premium funds & do is multiply the number of Units you have with the
Top-Up Premiums funds (if any), other than the Large Cap published Unit Price to arrive at the value of your
Equity Fund and Whole Life Income Fund, would investments.
continue to remain invested in those funds.
Credit/Debit Of Units
3) Manual fund switching for Regular Premium funds &
Premiums received, after deducting the payable Regular
Top-Up Premiums funds (if any) on which AAA is active is
Premium Allocation Charge/ Top-Up Premium Allocation
Charge will be used to purchase Units at the Unit Price
4) Manual fund switching is allowed on other available according to your instruction of Premium Allocation. Units
funds at applicable charges. Conditions regarding switch purchased by Regular Premium and Top-Up Premium, net of
fee, minimum switch, and minimum fund after switch payable charges, will be deposited into the Regular Premium
etc. for normal switching option shall be as applicable Account and Top-Up Account respectively.
under this plan.
Where notice is required (Partial Withdrawal, Complete
5) The automatic fund switches in the AAA option is Withdrawal or death of the Insured), Units being debited shall
available in addition to the 24 free switches. be valued by reference to their Unit Price as specified in the
6) Automatic Asset Allocation is free of any charge. section "Which NAV is applicable?"
7) For all age-dependant features, the revision to Which NAV is applicable?
policyholder's age will be effected on the annual In case of proposals or Top-Up Premiums where
underwriting or any other approval of the Company is
required (including auto-pay cases), units will be allocated on (b) Complete withdrawal without any risk cover
the day the underwriting and the other approvals are
From the expiry of the grace period, till the policyholder
completed. However in case of outstation cheques
exercises the option or till the expiry of above notice period
/outstation demand drafts, units will be allocated on the date
whichever is earlier, the policy is deemed to be in force and
of realization or the day when the underwriting/approvals are
the risk cover will continue. During this period Mortality
completed, whichever is later. Charge, WOP Charge, FIB Charge, Fund Management
In respect of renewal premiums (including local cheque or Charge and Policy Administration Charge will be deducted as
demand draft, payable at par at the place where the premium due from the Total Fund Value. In case of death during this
is received) / fund switch requests received up to 03.00 p.m. period, the death benefit as mentioned under "Death Benefit"
by Tata AIG Life, the closing NAV of the day on which the section shall be payable immediately. In case of total
premium is received shall be applicable. If the same is permanent disability during this period, the disability benefit
received after 03.00 p.m., the closing NAV of the next provisions as mentioned under "Disability Benefit" section
shall be applicable immediately.
business day shall be applicable. In respect of outstation
cheques/ demand drafts received at the place where the If the Policyholder exercises the option (a) i.e. to revive the
premium is received, the closing NAV of the day, on which policy, the policy will remain in force and all applicable
cheque/ demand draft is realized shall be applicable. In case charges as set out in section "What are my Premium and
of renewal premiums if you pay the premium in advance Policy Charges?" will continue to be deducted.
(including auto-pay cases) the units will be allocated on the
In case of Discontinuance of Premium within Five Years from
due date of the premium.
For the purpose of NAV calculation, the premium shall be If the policyholder exercises option (b) or does not exercise
deemed to have been received only when the same is either any option within the above notice period, the Total Fund
directly received at any of the offices of Tata AIG Life or when Value after deduction of the Discontinuance Charge on the
Tata AIG Life receives intimation from an authorized source expiry of notice period shall be credited to the 'Discontinued
about the receipt of premium at such alternate venue (eg. Policy Fund' maintained by the Company. The proceeds of
drop box), as authorized by Tata AIG Life. If intimation is the discontinuance policy fund including interest computed
received after 03.00 p.m. or on a Saturday, Sunday, Public at minimum interest rate of 3.5% p.a. compound shall be
Holiday/ Non-business day for Tata AIG Life, NAV for the next refunded to the policyholder at the end of Lock-in period of
working day will be applicable. five years from the inception of the policy. In case of death
during this period the proceeds of the 'Discontinued Policy
V. How Can I Manage My Investments? Fund' shall be payable immediately.
We offer you ample flexibility to manage your money so that In case of Discontinuance of Premium after paying at least
you can reap maximum benefits of your investments. five consecutive years premium:
Switching Between the Funds If the policyholder exercises option (b) or does not exercise
During the policy term, you may switch your investment or any option within the Notice Period as mentioned above, the
part of investment from one fund to another as per your Total Fund Value shall be refunded.
outlook about the markets. A total of 24 free switches are
allowed in a policy year after which charges will be applicable Revival of the Policy
on further switches as shown under "What are my Premium If the premium remains unpaid at the end of the Grace period
and Policy Charges?". and the policy has not been completely withdrawn for its
Total Fund Value it can be revived, within stipulated time
Premium Redirection period subject to: (i) Policyholder's written application for
Redirection facility helps you to allocate future premiums to a revival; (ii) production of Insured's current health certificate
different fund or set of funds. There is no Premium and/or other evidence of insurability satisfactory to us, if
Redirection charge. required (iii) payment of all overdue Regular Premiums.
VI. What if I want to discontinue paying premiums? VII. What if I want to discontinue the policy?
Discontinuance of Premiums Complete Withdrawal
In case the policyholder does not pay any premium due on The policyholder can completely withdraw funds from the
the policy before the expiry of the grace period, the company policy anytime during the policy term by intimating to the
will send a notice to the policyholder within 15 days from the company.
date of expiry of the grace period. If policyholder requests for complete withdrawal from the
The policyholder is, within 30 days of notice period from the policy -
receipt of the notice, entitled to the following options: • Within the Lock-in period; the surrender value i.e. the
(a) To revive the policy or Total Fund Value less applicable discontinuance charges
as on the date of discontinuance shall be credited to the Annualised Monthly Policy
'Discontinued Policy Fund' as maintained by the Premium Band (`) Administration Charge (`)
Company. The proceeds of the 'Discontinued Policy
20,000 - 29,999 70
Fund', after addition of interest computed at minimum
interest rate of 3.5% p.a. compound, shall be paid to the 30,000 - 49,999 100
policyholder only after completion of the Lock-in period. 50,000 & above 150
• After the Lock-in Period; the Total Fund Value as on the
date of discontinuance shall be paid to the policyholder. Fund Management Charge (FMC)
Lock-in period means the period of 5 consecutive years from A Fund Management Charge will be charged for each fund on
the date of commencement of the policy, during which period each valuation date at 1/365 of the following annual rates and
the proceeds of the discontinued policies cannot be paid by will be applied on the total values of the investment funds as
the insurer, except in the case of death or upon the happening given below
of any other contingency covered under the policy.
Funds Charge per annum
VIII. What are my Premium and Policy Charges#? Whole Life Mid-Cap Equity Fund 1.20%
Premium Allocation Charge Large Cap Equity Fund 1.20%
The Regular Premiums will be payable for the entire policy Super Select Equity Fund 1.20%
term as desired by you. The net Regular Premiums after Whole Life Aggressive Growth Fund 1.10%
deduction of charges are invested in funds as per your choice. Whole Life Stable Growth Fund 1.00%
Whole Life Income Fund 0.80%
Premium Year# / 20,000 to 30,000 Whole Life Short Term Fixed Income Fund 0.65%
Annualised 29,999 and above
Premium Band Fund Management Charges are subject to revision by
Company with prior approval of the Insurance Regulatory
1 to 3 3% 2%
and Development Authority but shall not exceed 1.35% per
4 to 10 2% annum of the Fund Value.
11 to 15 1% Mortality Charge10
16 onwards 0% The Mortality Charge of the Basic Policy will be deducted by
cancelling Units at the Unit Price, from the Regular Premium
Premium Year is determined by the number of complete 12- Fund Value of the Policy on each Policy Month Anniversary.
months period for which Regular Premium has actually been In case of the Top-Up Sum Assured, the same will be
deducted from the Top-Up Fund Value. If the Regular
paid, excluding any period of discontinuance of premiums.
Premium Fund Value is insufficient, then mortality charge will
The Annualised Regular Premium of the policy is arrived at be deducted from the Top-Up Fund Value, if any, and vice-
as below:- versa.
Mortality charge is the amount of insurance cover for the
If monthly paid Monthly Regular Premium / 0.0833 month multiplied by the applicable Mortality Charges for the
If quarterly paid Quarterly Regular Premium / 0.25 month, based on the age of the Life Assured. Insurance cover
is as defined below:
If semi-annually paid Semi-annual Regular Premium / 0.5
Insurance cover in each month for Regular Premium Account
If annually paid Annual Regular Premium / 1 is Maximum of Basic Sum Assured or 1.05 times total
Top-Up Premium Allocation Charge: 1.5% of single Top-Up
premium Insurance Cover in each month for Top-Up Account is
Maximum of Top-Up Sum Assured or 1.05 times total Top-Up
Policy Administration Charge premium paid
A Monthly Policy Administration Charge will be deducted by
cancelling Units at the Unit Price from the Fund Value of the Sample Age Mortality Charges per `1000 Sum Assured
policy and this charge will be increased by 5% p.a. 25 1.140
compounded annually subject to a maximum of `6000 per 35 1.435
annum. This increase will be effective from the next policy
anniversary. Tabulated below is the Monthly Policy 45 3.274
Administration charge for the 1st policy year. 55 9.022
The Mortality Charges will be guaranteed for the period of after addition of interest computed at a minimum interest
the policy term. rate of 3.5%p.a. compound, shall be paid to the policyholder
For complete details of mortality charges visit us at only after completion of the Lock-in period.
www.tata-aig-life.com The following table shows discontinuance charge as
Waiver of Premium Charge percentage of Regular Premium Fund Value:
Waiver of Premium charge is the sum of all future regular Policy Discontinuance charge Discontinuance charge
premiums due under base policy multiplied by the applicable year for Annualised Premium for Annualised Premium
Waiver of Premium rate, based on the attained age of the Life up to `25000 above `25000
Assured and the balance policy term. It is automatically
1 Lower of 20% of Lower of 6% of Annualised
deducted every month from your Regular Premium Fund. If
Annualised premium or premium or 6% of Regular
the Regular Premium Fund Value is insufficient, then the WoP 20% of Regular Premium Premium Fund Value
Charges will be deducted from the Top-Up Fund Value, if any. Fund Value subject to subject to maximum of
maximum of `3000 `6000
Attained Age Balance policy term (in years)
2 Lower of 15% of Lower of 4% of Annualised
10 15 20
Annualised premium or premium or 4% of Regular
25 0.98 0.86 0.76 15% of Regular Premium Premium Fund Value
35 1.20 1.05 0.93 Fund Value subject to subject to maximum of
maximum of `2000 `5000
45 2.74 2.40 2.11
3 Lower of 10% of Lower of 3% of Annualised
WOP rates are per `1000 premium
Annualised premium or premium or 3% of Regular
The Waiver of Premium benefit charges are subject to review 10% of Regular Premium Premium Fund Value
and may be altered by giving an advance notice of at least 3 Fund Value subject to subject to maximum of
months to the policyholder subject to the prior approval of maximum of `1500 `4000
Insurance Regulatory and Development Authority and will 4 Lower of 5% of Lower of 2% of Annualised
have prospective effect. Annualised premium or premium or 2% of Regular
Family Income Benefit Charge 5% of Regular Premium Premium Fund Value
Fund Value subject to subject to maximum of
Family Income Benefit charge is Sum Assured multiplied by maximum of `1000 `2000
the applicable Family Income Benefit rate, based on the
attained age of the Life Assured and chosen policy term. It is 5+ NIL NIL
automatically deducted every month from your Regular
There are no discontinuance charges applicable on the
Premium Fund. If the Regular Premium Fund Value is
Top-Up premium Fund Value.
insufficient, then the FIB charges will be deducted from the
Top-Up Fund Value, if any. Partial Withdrawal Charge
Attained Age Benefit Payment Term (in years) There are no partial withdrawal charges under Tata AIG Life
Insurance Gyan Kosh
9 6 3
Fund Switching Charge
25 0.99 0.72 0.36
There are 24 (twenty four) free switches per policy year.
30 1.01 0.73 0.37
Thereafter a service charge of `100/- per switch will be
35 1.22 0.89 0.45 applicable.
FIB rates are per `1000 basic sum assured This charge may be revised as deemed appropriate by the
The Family Income Benefit charges are subject to review and Company but shall not exceed a maximum of `250/- with
may be altered by giving an advance notice of at least 3 prior approval of the Insurance Regulatory and Development
months to the policyholder subject to the prior approval of Authority.
Insurance Regulatory and Development Authority and will
Premium Redirection Charge
have prospective effect.
Discontinuance Charge There is no Premium Redirection Charge.
The policyholder can discontinue paying premium anytime The Company may alter the above charges (except
during the policy term by intimating to the Company. Mortality Charge and Premium Allocation Charges which are
However when the request for discontinuance from the guaranteed throughout the term) by giving an advance
policy is within the Lock-in period of 5 years from policy notice of at least three months to the policyholder subject to
inception, Total Fund Value, as on the date of intimation, net the prior approval of IRDA and the same will have
of discontinuance charges shall be put in the 'Discontinued prospective effect.
Policy Fund'. The proceeds of the 'Discontinued Policy Fund',
IX. Other Plan Features of the policy, our liability shall be limited to the Total Fund
Value, valued at the applicable Unit Price.
Free Look Period
If the policyholder is not satisfied with the Terms & Conditions Inbuilt Benefit Exclusions
of the policy, he/she has the right to cancel the policy by The inbuilt benefits (Waiver of premium and Family Income
giving written notice to the Company and receive the Benefit) shall not cover any Total Permanent Disability
premiums invested into the funds at Unit Price as at the date caused directly or indirectly, wholly or partly, by or arising out
of cancellation along with the charges paid after deducting a) of any of the following occurrences:
for proportionate Risk and Rider Premium (if any) for the
a) Assault or attempt to murder or murder;
period on cover and b) Stamp duty and medical examination
costs which have been incurred for issuing the Policy. Such b) Riot and civil commotion, industrial action or terrorist
notice must be signed by policyholder and received directly activity;
by the Company within 15 days after the policyholder
c) War, declared or undeclared, or revolution;
receives the Policy Document.
d) Service in the armed forces in time of declared or
undeclared war or while under orders for warlike
If you are unable to pay your Regular Premium on time, operations or restoration of public order;
starting from the regular premium pay-to-date, a grace
period of 30 days will be offered for policies on Annual, Semi- e) Self destruction or attempted self-destruction or self-
Annual or Quarterly Modes. For policies on monthly mode inflicted injuries while sane or insane;
the grace period would be 15 days. During this period your f) Entering, exiting, operating, servicing, or being
policy is considered to be in force with the risk cover as per transported by any aerial device or conveyance except
the terms & conditions of the policy. when the Insured is on a commercial passenger airline
Backdating on a regular scheduled passenger trip over its
established passenger route;
Backdating is not allowed in Tata AIG Life Insurance
Gyan Kosh g) Any congenital defect which has manifested or was
diagnosed before the Insured attains 17 years of age.
Policy Loan is not allowed in Tata AIG Life Insurance h) In our opinion the insured was suffering from Acquired
Gyan Kosh Immuno-Deficiency Syndrome (AIDS) or infection by
any Human Immuno-Deficiency Virus (HIV). For the
Tax Benefits purpose of this Policy:-
Premiums paid under this plan are eligible for tax benefits i. The definition of AIDS shall be that used by the World
under section 80C of the Income Tax Act, 196111. Moreover, Health Organization in 1987, or any subsequent
life insurance proceeds enjoy tax benefits as per section revision by the World Health Organization of that
10(10D) of the said Act. definition.
Tax benefits are available as per Income Tax Act, 1961, and ii. Infection shall be deemed to have occurred where
are subject to modifications made thereto from time to time. blood or other relevant test(s) indicate in the opinion
Tata AIG Life does not assume the responsibility on tax of the Company either the presence of any Human
implication mentioned anywhere in this document. Please Immunodeficiency Virus or Antibodies to such a
consult your own tax consultant to know the tax benefit Virus.
available to you. i) Deliberate act(s) of the Policyholder, Nominee or Insured;
Nomination and Assignment j) Violation or attempted violation of the law or resistance
While this policy is in force, the policyholder may change to arrest;
ownership of this policy and/or the Nominee/Appointee by k) Exclusions under the General Provisions of the Basic
filing a written notice to the company. Such change is valid Policy.
only if recorded by the company during the lifetime of the
Insured and endorsed on this policy. No benefit will be provided for Total Permanent Disability
resulting from a physical or mental condition which existed
The beneficiary/nominee will not have any rights such as before the Issue Date or Commencement Date of the policy
surrender, partial/complete withdrawal, switches, and which was not disclosed in the Application or health
premium redirections except to receive the benefits statement. For exclusions on the rider benefits, please refer
(maturity and death) available under the contract. to the respective supplementary contract.
Exclusions Insurance Act, 1938, Section 41 (Prohibition of Rebates)
If the Insured, whether sane or insane, commits suicide
1. No person shall allow or offer to allow, either directly or
within one year from the Issue Date or Commencement Date
indirectly, as an inducement to any person to take out or ä The various funds offered under this contract are the
renew or continue an insurance in respect of any kind of names of the funds and do not in any way indicate the
risk relating to lives or property in India, any rebate of the quality of these plans, their future prospects and returns.
whole or part of the commission payable or any rebate of
ä The performance of the managed portfolios and funds is
the premium shown on the policy, nor shall any person
not guaranteed and the value may increase or decrease
taking out or renewing or continuing a policy accept any
in accordance with the future experience of the managed
rebate, except such rebate as may be allowed in
portfolios and funds. Past performance is not indicative
accordance with the published prospectuses or tables of
of future performance.
ä The Premium paid in the Unit Linked Life Insurance
2. If any person fails to comply with sub regulation (1)
Policies are subject to investment risks associated with
above, he shall be liable to payment of a fine which may
capital markets and the NAVs of the units may go up or
extend to rupees five hundred.
down based on the performance of fund and factors
Insurance Act, 1938, Section 45 influencing the capital market and the insured is
No policy of life insurance effected before the responsible for his/her decisions.
commencement of this Act shall after the expiry of two years ä Buying a life insurance policy is a long-term
from the date of commencement of this Act and no policy of commitment. An early termination of the policy usually
life insurance effected after the coming into force of this Act involves high costs and the surrender value payable may
shall, after the expiry of two years from the date on which it be less than the total premiums paid.
was effected be called in question by an insurer on the
ground that statement made in the proposal or in any report ä The brochure is not a contract of insurance. This
of a medical officer, or referee, or friend of the insured, or in brochure should be read along with sales Illustration.
any other document leading to the issue of the policy, was The precise terms and conditions of this plan are
inaccurate or false, unless the insurer shows that such specified in the policy contract.
statement was on a material matter or suppressed facts ä Tata AIG Life Insurance Company Ltd. is only the name of
which it was material to disclose and that it was fraudulently the Insurance Company and Tata AIG Life Insurance
made by the policyholder and that the policyholder knew at Gyan Kosh is only the name of the Unit Linked Life
the time of making it that the statement was false or that it Insurance Contract and does not in any way indicate the
suppressed facts which it was material to disclose quality of the contract, its future prospects or returns.
Provided that nothing in this section shall prevent the insurer ä This product is underwritten by Tata AIG Life Insurance
from calling for proof of age at any time if he is entitled to do Company Ltd.
so, and no policy shall be deemed to be called in question
merely because the terms of the policy are adjusted on ä Insurance is the subject matter of the solicitation.
subsequent proof that the age of the life insured was For complete details please contact our Insurance advisor or
incorrectly stated in the proposal. visit Tata AIG Life's nearest branch office or call our toll free
Tata AIG Life - A New Look At Life number 1-800-11-9966 (facility available from MTNL and
Tata AIG Life Insurance Company Limited (Tata AIG Life) is a BSNL lines) and 1-860-266-9966 (facility available from all
joint venture company, formed by Tata Sons and AIA Group mobile and landlines wherein local charges would apply) or
Limited (AIA). Tata AIG Life combines Tata's pre-eminent write to us at email@example.com.
leadership position in India and AIA's presence as the largest, Visit us at: www.tata-aig-life.com or SMS 'LIFE' to 58888.
independent listed pan-Asia life insurance group in the world
spanning 15 markets in Asia Pacific. Tata Sons holds a
majority stake (74%) in the company and AIA holds 26%
through an AIA Group company. Tata AIG Life Insurance
Company Limited was licensed to operate in India on
February 12, 2001 and started operations on April 1, 2001.
ä Investments are subject to market risk.
ä Unit Linked Life Insurance products are different from the
traditional insurance products and are subject to the risk
factors of fluctuations in investment returns and
possibility of increase in charges. Please know the
associated risks and the applicable charges, from your
insurance agent or the intermediary of the Company.