Tata AIA Life Assure 10 years-20 years-30 years Security & Growth Insurance Plan
Tata AIA Life Assure 10 years-20 years-30 years Security and Growth Plans is an endowment policy. It is a Traditional Plan with Bonus Facility.
In this plan premium needs to be paid till the end of the Policy Term. There is a choice of 3 policy terms of 10, 20 or 30 years. In this plan, the Sum Assured along with Guaranteed Loyalty Addition and Terminal Bonuses are paid on the maturity of the policy as Maturity Benefit. However, if the Life Insured dies within the Policy Tenure, then the Sum Assured + Guaranteed Loyalty Addition of 10% the Sum Assured (provided the policy has been inforce for at least 10 years) + Bonuses are paid as Death Benefit.
This plan has 9 additional riders which can be availed.
Key Features of Tata AIA Life Assure 10 years-20 years-30 years Security & Growth Insurance Policy
Benefits you get from Tata AIA Life Assure 10 years-20 years-30 years Security & Growth Insurance Policy
Death Benefit – Sum Assured + Guaranteed Loyalty Addition of 10% the Sum Assured (provided the policy has been inforce for at least 10 years) + Bonuses
Maturity Benefit – Sum Assured + Guaranteed Loyalty Addition of 10% the Sum Assured + Bonuses
Income Tax Benefit – Premiums paid under life insurance policy are exempted from tax under Section 80 C and maturity proceeds are exempted from tax under Section 10 (10D)
Eligibility in Tata AIA Life Assure 10 years-20 years-30 years Security & Growth Plans
|
Minimum |
Maximum |
Sum Assured (in Rs.) |
25,000 |
No Limit |
Policy Term (in years) |
10, 20 |
30 |
Premium Payment Term (in years) |
Equal to PT |
|
Entry Age of Life Insured |
18 |
65 years for 10 years term 55 years for 20 years term 45 years for 30 years term |
Age at Maturity |
- |
75 |
Single premium (in Rs.) |
NA |
|
Payment modes |
Yearly, Half-yearly, Quarterly, Monthly |
Sample illustration of premium amount in Tata AIA Life Assure 10 years-20 years-30 years Security & Growth Insurance Policies
The below illustration is for a healthy person opting for a Sum Assured = Rs. 1,00,000
Age= 35 years
Policy Term= 10 years, 20 years and 30 years
Bonus Assumption= 10% p.a.
Guaranteed Additions= 10% of SA= Rs 10,000
Additional Features & Benefits of Tata AIA Life Assure 10 years-20 years-30 years Security and Growth Plan
Riders- There are 9 riders available with this plan-
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. 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.