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Tata AIA Life Assure Golden Years

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This plan has been withdrawn by the insurance company and is no longer available for sale.

 

Tata AIA Life Assure Golden Years Plan
 
Tata AIA Life Assure Golden Years Plan is a Participating Endowment Plan which matures at Age 60. This is a Traditional Plan with Bonus Facility.
 
How it works – In this plan, premium needs to be paid till the end of the Policy Tenure and the policy continues till the Life Insured is 60 years old.
 
In this plan, the Sum Assured + accrued Bonuses are paid to the Policyholder on policy maturity as Maturity Benefit and the policy is terminated. However if the Life Insured dies within the policy tenure, the Basic Sum Assured + accrued Bonuses are paid to the nominee as Death Benefit and policy terminates. 
 
This policy also pays Guaranteed Addition of 10% of the Sum Assured, if the policy has been in force for at least 10 years.
 
There are 9 additional riders in this plan.
 
 
Key Features of Tata AIA Life Assure Golden Years Policy
 
  • This is a participating Endowment Plan till age 60
  • Premiums need to be paid till the end of the policy tenure
  • On policy Maturity, the Sum Assured + accrued Bonuses are paid to the Policyholder as Maturity Benefit
  • In case the Life Insured dies within the policy tenure, the Basic Sum Assured + accrued Bonuses are paid to the nominee as Death Benefit 
  • This policy also pays Guaranteed Addition of 10% of the Sum Assured, if the policy has been in force for at least 10 years
  • There are 9 additional riders available in this plan
COMPARE THIS PLAN WITH OTHER ENDOWMENT PLANS


 
 
Benefits you get from Tata AIA Life Assure Golden Years Insurance Plan
 
Death Benefit – If the Life Insured dies within the policy tenure, Sum Assured +accrued Bonus is paid to the nominee as Death Benefit and the policy terminates. This policy also pays Guaranteed Addition of 10% of the Sum Assured, if the policy has been in force for at least 10 years.
 
Maturity Benefit – When the policy matures, the Basic Sum Assured + accrued Bonus + Guaranteed Addition of 10% of the Sum Assured would be payable as Maturity Benefit.
 
Income Tax Benefit - Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C and the Maturity Proceeds are tax free under section 10(10)D subject to fulfilment of terms and conditions.
 
 
Eligibility in Tata AIA Life Assure Golden Years Insurance Policy
 

 

 
Minimum
Maximum
Sum Assured (in Rs.)
25,000
No Limit
Policy Term (in years)
60 – Age at Entry
Premium Payment Term (in years)
Equal to Policy Tenure
Entry Age of Life Insured (in years)
18
50
Age at Maturity (in years)
-
60
Payment modes
Yearly, Half-yearly, Quarterly, Monthly
 
 
 
Sample illustration of Maturity Benefit of Tata AIA Life Assure Golden Years Plan
 

The below illustration is for a healthy person opting for a Sum Assured = Rs. 1,00,000

Tata AIA Life Assure Golden Years Plan Sample Benefit Illustration

 

 

 

Additional Features and Benefits of Tata AIA Life Assure Golden Years Plan
 
Riders- There are 9 additional riders available with this plan-
  1. Accidental Death Benefit
  2. Accidental Death and Dismemberment (Long Scale)
  3. Accidental Death and Dismemberment (Short Scale)
  4. Waiver of Premium Rider
  5. Critical Illness (Accelerated Benefit) Rider
  6. Critical Illness (Lumpsum Benefit) Rider
  7. 10/15/20/25 Year Term Rider
  8. 5 Year Renewable Term Rider
  9. Term to age 60 Rider
 
 
What happens if?
 
You stop paying the premium - If the policy holder stops paying the premium, the insurance cover will cease and the policy will lapse. The policy will acquire a Paid Up Value if at least 3 years’ premiums have been paid. However it can be revived within 5 years from the first unpaid premium after fulfillment of certain terms and conditions and payment of due premiums and interest.
 
You want to surrender the policy – Surrender is allowed after completion of 3 policy years.
Guaranteed Surrender Value = 30% of all basic premiums paid - 1st years premium
 
You want a loan against your policy - There is no loan available under this plan.
 
 
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