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Tata AIA Investassure Plus Supreme

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This plan has been withdrawn by the insurance company and is no longer available for sale.

 

Tata AIA Life Insurance InvestAssure Plus Supreme Plan
 
Tata AIA Life Insurance InvestAssure Plus Supreme Plan is a Single Premium Unit Linked Insurance Plan. This is a Non-Traditional Plan without Bonus Facility.
 
How it works – In this plan, premium needs to be paid in lump sum under Single Premium while the policy continues till the end of the Policy Tenure.
 
In this plan, there are 2 Portfolio Strategies to choose from other than a wide range of 7 Investment Funds. The 2 Portfolio Strategies to choose from where the investment has been characterized to suit the risk appetite and lifestyle requirement.
  • Systematic Money Allocation & Regular Transfer (SMART) and
  • Automatic Asset Allocation (AAA)
 
This plan offers 5% of the Fund Value as Guaranteed Maturity Benefit but only on survival till the policy maturity and not paid on any other occasion. On Survival till the end of the Policy Tenure, the Fund Value is paid to the Policyholder as Maturity Benefit and the policy terminates.
 

However, if the Life Insured dies within the policy tenure, the nominee would get the higher of the Sum Assured, net of Deductible Partial Withdrawal, or the Single Premium Fund Value, subject to at least 105%of the Single Premium paid net of all deductible partial withdrawals, as Death Benefit and the policy terminates.


 

Key Features of Tata AIA Life Insurance InvestAssure Plus Supreme Policy
 
  • This is a Single Premium Unit Linked Insurance Plan
  • The Policy Continues for 20-30 years as selected
  • This plan offers Guaranteed Maturity Addition of 5% of the Fund Value only on Policy Maturity
  • On Survival till the end of the Policy Tenure, the Fund Value is paid to the Policyholder as Maturity Benefit
  • If the Life Insured dies within the Policy Tenure, then the higher of the Sum Assured or the Fund Value is paid to the nominee as Death Benefit
  • There are 7 Fund Options for Investment Facility
  • In this plan, there is a choice of Portfolio Strategies:
    • Systematic Money Allocation & Regular Transfer (SMART) and
    • Automatic Asset Allocation (AAA)


COMPARE THIS PLAN WITH OTHER ULIP PLANS

 

Benefits you get from Tata AIA InvestAssure Plus Supreme Insurance Plan
 
Death Benefit – In case of an unfortunate death of the Life Insured within the Policy Tenure, the nominee would get the higher of:
  • The Sum Assured, net of Deductible Partial Withdrawal, or
  • The Single Premium Fund Value, or
  • 105%of the Single Premium paid net of all deductible partial withdrawals, as Death Benefit and the policy terminates.
 
Maturity Benefit – On survival till the end of the Policy Tenure, the entire Single Premium Fund Value is paid to the Policyholder as Maturity Benefit and the policy would be terminated
 
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), subject to fulfilment of terms and conditions.
 
 
Eligibility in Tata AIA Life InvestAssure Plus Supreme Insurance Policy
 

 

 
Minimum
Maximum
Sum Assured (in Rs.)
For Age < 45 yrs, SA=1.25 X Single Premium
For Age >= 45 years, SA=1.1 X Single Premium
5 X Single Premium
Policy Term (in years)
20
30
Premium Payment Term (in years)
Single
Entry Age of Life Insured (in years)
4
50
Age at Maturity (in years)
-
70
Single Premium (in Rs.)
48,000 p.a.
No Limit
Payment modes
Only Single
 
 
Sample illustration of Tata AIA Life Insurance InvestAssure Plus Supreme Plan
 

The below illustration is for a healthy person of ages 35 years of age, paying a Single Premium of Rs 1,00,000and getting for a Sum Assured = Rs.1.25 lacs with Fund Allocation of 50% Whole Life Income Fund and 50% in Whole Life Mid Cap Equity Fund

Tata AIA Invest Assure Plus Supreme Plan Sample Returns

 

 

Additional Features and Benefits of Tata AIA Life InvestAssure Plus Supreme Plan
 
Riders - There are no Additional Riders available in this plan:
 
Investment Fund Options - In this plan, there is a choice of Portfolio Strategies:
  • Systematic Money Allocation & Regular Transfer (SMART) and
  • Automatic Asset Allocation (AAA)
Alternately, you could also choose from the available 7 Funds for Investment Purpose
  1. Large Cap Equity Fund
  2. Whole Life Mid-Cap Equity Fund
  3. Super Select Equity Fund
  4. Whole Life Aggressive Growth Fund
  5. Whole Life Stable Growth Fund
  6. Whole Life Income Fund
  7. Whole Life Short-Term Fixed Income Fund
 
Top Up Premium - Top Up is allowed at any time except in the last 5 policy years. The Minimum Top Up Amount is Rs 5,000 and every Top-Up Premium has a lock in of 5 years and 4 Top Ups are allowed in each policy year.
The Top Up Premium is accompanied by an increase in Sum Assured according to the multiple of 1.25, 2.5 or 5 times Top-Up Premium if the age of the Life Insured is below 45 years of age and 1.1, 2.5 or 5 times Top-Up Premium if the age of the Life Insured is 45 and above, subject to underwriting.
 
Switching - The first 12 switches in a policy year are free post which there is a charge of Rs 100 per switch which can maximum increase to Rs 250 per switch after IRDA approval.
 
Partial Withdrawal - Partial withdrawals are allowed only after completion of 5 policy years or after completion of 18 years of the Life Insured. The minimum partial withdrawal is Rs 5,000 subject to Rs 5000 remaining in the Fund Value. There are no charges for any number of Partial Withdrawals in this plan but only a maximum of 4 are allowed in each Policy year.
 
 
Charges in Tata AIA Life Insurance InvestAssure Plus Supreme Plan
 
Premium Allocation Charge – This charge is deducted from the Premium Paid by you

 

Premium Band
Premium Allocation Charge
Rs 48,000 to Rs 99,999
5% of Annual Premium Paid
Rs 1,00,000 to Rs 4,99,999
3.5% of Annual Premium Paid
Rs 5,00,000 and above
2.5% of Annual Premium Paid
Top Up Premium
1.5% of Annual Premium Paid
                                   
 
Policy Administration Charge— This is the charge for the administrative working of the policy and is deducted on a monthly basis. There will be an absolute cap of Rs 6000 per annum on the policy administration charge.

 

Policy Year
Monthly Premium Allocation Charge
Year 1
Rs 30
Year 2 onwards
Rs 25
 
 
Fund Management Charge– This charge is deducted by adjusting the NAV of the units on a daily basis which can maximum increase to 1.35% p.a. of the Fund Value.

 

Type
Charge
Large Cap Equity Fund Management Charge
1.20% p.a. of the Large Cap Equity Fund Value
Whole Life Mid-Cap Equity Fund Management Charge
1.20% p.a. of the Whole Life Mid-Cap Equity Fund Value
Super Select Equity Fund Management Charge
1.20% p.a. of the Super Select Equity Fund Value
Whole Life Aggressive Growth Fund Management Charge
1.10% p.a. of the Whole Life Aggressive Growth Fund Value
Whole Life Stable Growth Fund Management Charge
1.00% p.a. of the Whole Life Stable Growth Fund Value
Whole Life Income Fund Management Charge
0.80% p.a. of the Whole Life Income Fund Value
Whole Life Short-Term Fixed Income Fund Management Charge
0.65% p.a. of the Whole Life Short-Term Fixed Income Fund Value
 
 
Surrender Charge— There is no charge is for discontinuing the plan before the end of the Policy Tenure.
 
 
Mortality Charge — This charge is paid for the Life Coverage provided according to the Sum At Risk. This is based on the mortality rates which are specified for all ages and amount of cover being provided.
 
Service Tax would be applicable on the charges depending on the applicable rates.
 
 
What happens if?
 
You stop paying the premium – Being a Single Premium Plan, there is no question of further payment of premium.
 
You want to surrender the policy – If the policy holder wants to surrender the policy before completing 5 years, then the insurance cover will cease and the Fund Value, will be transferred to the Discontinued Policy Fund. The Discontinued Policy Fund will earn a minimum guaranteed interest rate as applicable to savings bank accounts of State Bank of India and the proceeds from this will be payable after the fifth policy anniversary. In case of death of the Life Assured during this period, only the accumulated fund value will be payable to the nominee.
 
If the policyholder surrenders the policy after completion of 5 policy years, then there is no Surrender/Discontinuance Charges and the Fund Value is paid to the policy holder and the policy will terminate immediately.
 
You want a loan against your policy - There is no loan available under this plan.

 
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