Product Overview
Non Linked Participating Life Insurance Plan
Every individual has different needs at different stages of life. At Tata AIA Life, we believe in protecting your dreams at various stages of life without compromising on your needs through financial resources. You do not have to think twice to live your dreams.
We present to you, Tata AIA Life Insurance Diamond Savings Plan, a limited pay insurance plan that meets tomorrow’s requirements along with protecting your loved ones. Investing in this plan will help you fulfill your medium and long term goals, such as child’s education / second income and retirement planning.
Key Features
- Receive guaranteed income*after premium payment term;
- Get vested Compound Reversionary Bonus and Terminal Bonus#, if any; on maturity or on death
- Pay for 8 or 12 years for policy term of 18 or 25 years respectively;
- Get life cover for the entire policy term;
- Enhance your protection with optional Riders;
- Eligible for tax benefits under Section 80C and 10(10D) of the Income Tax Act, 1961, as amended from time to time.
*Provided the policy is inforce
Disclaimers
- *A Guaranteed Income of 20% or 25% of Assured Benefit shall be paid annually commencing from the end of policy year 9 or 13, for premium payment term 8 or 12 respectively and shall be payable till maturity of the Policy or till death of the Life Insured, whichever is earlier
- #Compound Reversionary Bonus and Terminal Bonus will be based on Company’s performance and are not guaranteed.
- Buying a Life Insurance Policy is a long-term commitment. An early termination of the Policy usually involves high costs and the Surrender Value payable may be less than the all the Premiums Paid.
- This product is underwritten by Tata AIA Life Insurance Company Ltd
- This plan is not a guaranteed issuance plan and it will be subject to Company’s underwriting and acceptance.
- Insurance cover is available under this product.
- This product will be offered only to Standard lives.
- Income Tax benefits would be available as per the prevailing income tax laws, subject to fulfillment of conditions stipulated therein. Tata AIA Life Insurance Company Ltd does not assume responsibility on tax implication mentioned anywhere in this document. Please consult your own tax consultant to know the tax benefit available to you.
- Riders are not mandatory and are available for a nominal extra cost. For more details on the benefits, premiums and exclusions under the riders please refer to the Rider Brochure or contact our Insurance Advisor or visit our nearest branch office.
- For more details on risk factors, terms and conditions, please read sales brochure carefully before concluding a sale.
