Tata AIA Life Insurance Value Income Plan

All You Need To Know

TATA AIA Life Insurance Value Income Plan (UIN: 110N153V01)

Individual, Non-Linked, Participating Life Insurance Savings Plan

You will no doubt want to give your family a happy and secure future. Planning right and planning early are the stepping stones to achieving your purpose. Savings plans can help you fulfil these objectives, without any financial strain. With guaranteed payouts that you can rely on, they help you meet your needs, and realize your dreams at every stage of life.

With the Tata AIA Life Insurance Value Income Plan, you can secure the future of your loved ones, and take care of your financial commitments comfortably. Choose this plan and experience the double benefits of a life insurance cover, coupled with an element of guaranteed returns.

Key Benefits

Get Guaranteed* Income

Tata AIA Life Insurance Fortune Guarantee Plus is a savings plan that enables you to meet life's goals through guaranteed regular income. By choosing this plan, you get to enjoy the benefits of life insurance coverage, coupled with the element of savings to fulfil your life goals.

Early income Benefit - Early Cash bonus payout from 2nd policy anniversary till maturity
Flexible payout - Choice of taking Cash Bonus or accumulate till maturity for lumpsum benefit
Insurance coverage - Life insurance coverage during policy term with option of Extended life cover till age 100
Add-on riders - Enhanced protection through optional riders

Highlights of Tata AIA Life Insurance Value Income Plan

You have flexibility to choose your payout
You have the flexibility to choose extended life cover till the age of 100
You can choose any of the additional riders to increase the protection offered
The plan gives you the choice of different policy terms to suit your needs
You can choose to pay your premiums annually, half-yearly, quarterly or monthly
You have the option to avail a loan against your policy
You can avail tax benefits as per the applicable tax laws

With the Tata AIA Life Insurance Value Income (UIN: 110N153V01)Plan, you can purchase the following riders2.

Disclaimer:

*These bonuses are not guaranteed in nature. The Company may declare Cash Bonus rate annually in advance. The Cash Bonuses if declared will be applicable provided all due premiums have been paid.
¹ Guaranteed Maturity Benefit depend on Plan Option, Policy Term, Premium Payment Term and Age at entry of Life Assured at the time of inception of the policy.
This product is underwritten by Tata AIA Life Insurance Company Limited. The plan is not a guaranteed issuance plan and it will be subject to Company’s underwriting and acceptance.
For more details on risk factors, terms and conditions please read Sales Brochure carefully before concluding a sale.
²Riders are not mandatory and are available for a nominal extra cost. For more details on benefits, premiums and exclusions under the Rider, please contact Tata AIA Life's insurance Website/Advisor/branch.
³ Income Tax benefits would be available as per the tax laws, subject to fulfillment of conditions stipulated therein. Income Tax laws are subject to change from time to time. 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 benefits available to you.
All Premiums are subject to applicable taxes, cesses & levies which will entirely be borne by the Policyholder along with the payment of Premium. If any imposition (tax or otherwise) is levied by any statutory or administrative body under the Policy, Tata AIA Life Insurance Company Limited reserves the right to claim the same from the Policyholder. Alternatively, Tata AIA Life Insurance Company Limited has the right to deduct the amount from the benefits payable by Us under the Policy.
Past performance is not indicative of future performance.
In case of sub-standard lives, extra premiums will be charged as per our underwriting guidelines.
Insurance cover is available under this product.
HDFC Bank Limited (4621612) (IRDAI Registration No: CA0010) is the Corporate Agent of Tata AIA Life Insurance Company Limited and does not underwrite the risk or act as an insurer. HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400 013. Participation by the Bank’s clients in the Insurance products is purely on a voluntary basis. The contract of Insurance is between Tata AIA Life and the Insured and not between HDFC Bank and the Insured. Tata AIA Life Insurance Company Limited (IRDAI Regn. No.110) CIN: U66010MH2000PLC128403. Registered & Corporate Office: 14th Floor, Tower A, Peninsula Business Park, Senapati Bapat Marg, Lower Parel, Mumbai - 400013.Trade logo displayed above belongs to Tata Sons Ltd and AIA Group Ltd. and is used by Tata AIA Life Insurance Company Ltd under a license. For any information including cancellation, claims and complaints, please contact our Insurance Advisor / Intermediary or visit Tata AIA Life’s nearest branch office or call 1-860-266-9966 (local charges apply) or write to us at customercare@tataaia.com. Visit us at: www.tataaia.com.
L&C/Advt/2022/Apr/0740

BEWARE OF SPURIOUS PHONE CALLS AND FICTIOUS / FRAUDULENT OFFERS

IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint

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FAQs

What are the two plan options available in Value Income Plan (VIP)?
• Option 1: Endowment
• Option 2: Endowment with Extended Life Cover (ELC) till age 100
What is the Min. and Max. entry age?
Minimum:
30 days (subject to minimum age at maturity is 18 years)
Maximum:
• 55 years for 5 PPT
• 58 years for 6 PPT
• 62 years for 7 PPT
• 65 years for 8 to 15 PPT
What are the different Premium Payment Terms (PPT) and Policy Terms (PT) available?
PPT - 5 to 15 Years
PT - 10 to 40 Years
Minimum Policy term chosen can be PPT+5 years
What is the Guaranteed* Benefit?
Basic Sum Assured on Maturity is the Guaranteed* Benefit in VIP.
Basic Sum Assured = (Base Premium / Base Premium Rate per 1000 Basic Sum Assured) X 100
*Provided all due premiums are paid and the policy is in force
What is the Survival Benefit?
In case Cash Bonus is opted:
Cash Bonus, expressed as % of Basic Sum Assured, may be declared every year starting from the 2nd policy year till the end of the Policy Term.
In case Accumulated Cash Bonus is opted:
• Any declared Cash bonus is not paid to the policyholder and instead gets vested at policy anniversary and subsequently gets accumulated at a non-participating accumulation rate.
• The Accumulated Cash Bonus, if declared is payable at Death/Surrender/Maturity.
The non-participating annual accumulation rate declared shall be 10 year G-sec less 2% as on 31st March of every year. The 10 year G-Sec shall be sourced from Financial Benchmark India Ltd.
When can the Cash Bonus be received?
At inception, the policyholder can choose if he wants to take cash bonus, if declared each year on policy anniversary or on his/her birthday following the second policy anniversary.
In case the policyholder chooses to take the cash bonus, if declared on birthday:
• Cash bonus pay-out, if declared for the last year shall be made along with maturity benefit and not on birthday of the policyholder.
• Amount shall be payable any time within the week preceding the birthday of the policyholder.
What will be the Maturity Benefit?
Provided the policy is in force and all due premiums have been paid, the following benefits shall be payable at maturity:
In case Cash Bonus is opted:
• Guaranteed* Maturity Benefit
• Terminal Bonus, if declared
In case Accumulated Cash Bonus is opted:
• Accumulated Cash Bonus, if declared
• Guaranteed* Maturity Benefit
• Terminal Bonus, if declared
Further, in case policyholder has opted for ELC, survival benefit equal to BSA is payable on life insured attaining age 100 years and the policy is terminated. No bonuses shall be payable during ELC period.

The company may decide to pay terminal bonus if declared on Death/Surrender/Maturity of the policy. The terminal bonus, if declared, expressed as % of Basic Sum Assured may be payable after the completion of PPT or 5 policy years whichever is earlier as on date of exit.
*Provided all due premiums are paid and the policy is in force
What is the Extended Life Cover (ELC)?
Under plan Extended Life Cover (ELC) Option, at inception, the policyholder has an option to opt for extended life cover till age 100 years. Under this option, there will be two payouts of Basic Sum Assured:
• First payout is on maturity
• Second payout shall be payable upon the death of the life insured during ELC period or upon the life insured surviving to 100 years of age, whichever is earlier.
No bonuses are payable during the ELC period
What is the Equity exposure limit of the VIP Par Fund?
Equity Exposure of Par Fund in VIP is upto 30% which gives the potential to earn higher returns.
Can policy loan be availed?
Yes. Provided that the policy acquires Surrender Value, policyholders may apply for a Policy Loan for such an amount within the extent of 80% of Surrender Value.
Can riders be attached with the plan?
Yes.
Comprehensive Protection Riders (CPR) available
• Accidental Death Benefit (ADB)
• Accidental Total and Permanent Disability (ATPD)
• Term and Terminal Illness (TTI)
Comprehensive Health Riders (CHR) available
• CritiCare Plus Benefit (CPB)
• HospiCare Benefit (HCB)

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Tata AIA Life Insurance Value Income Plan

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