Tata AIA Life Insurance Saral Jeevan Bima

General

1. How is a pure term plan different from other life insurance plans?

A term plan is unlike other life insurance plans because it only offers a pure life cover and no maturity or survival benefits, or other pay-out benefits. Term insurance plans are also quite well-known for their highly affordable premiums, even when the sum assured is high.

2. Why do I need a term insurance plan?

A term insurance plan offers a simple but extensive life cover protection that ensures the future financial security of your dependents or beneficiaries. In case of your demise within the policy term, the predetermined sum assured is paid out to them so they can secure themselves financially.

3. Are term insurance plans expensive?

No, on the contrary, term insurance premiums can be quite affordable even if you opt for a high sum assured. If you opt for a term insurance plan at a younger age, the premium amount is affordable and does not change during the policy term except for taxes as per applicable tax laws.

4. When should I buy term insurance?

It is always advisable to purchase a term plan in your 20s or as early as the minimum entry age so that you can benefit from low premiums. At a younger age, you have considerably lower health risks as compared to an older individual, which is why the premiums will also be low.

Cover

1. What is the maximum sum assured I can avail under this Tata AIA Life Insurance term plan?

The maximum basic sum assured you could opt for under this policy is 49,50,000, which may be subject to review as per the company’s policies and guidelines.

2. Does the term policy offer any death benefit and maturity benefit?

There is no maturity benefit under this term policy. The death benefit payable on the death of the policyholder is as follows:

• In case of Regular Pay or Limited Pay, the highest of 10 times the annualised premium (total premiums paid in a year), the predetermined sum assured to be paid on death or 105% of the total premiums paid until the date of the death, will be payable.
• In the case of Single Pay, the highest of 125% of the Single Premium or the predetermined sum assured to be paid on death will be payable.
  
  

3. How do the riders under this term insurance plan work?

You can add rider options available under the term plan to your base policy. They can be attached to the policy at the start of the policy duration or on any of the policy anniversaries, provided the rider policy term and premium paying term do not exceed that of the base term plan. These riders will come at an additional but nominal premium cost.

Policy

1. Is it possible to cancel the term plan after the premium payment?

In case you cancel the term plan, you can get 70% of the total premiums paid under the Limited Pay and Single Pay options, provided 2 successive years of premiums have been paid in full, and the policy is still valid at the time of cancellation.

2. What is the premium paying terms and modes under this policy?

The policy offers the Regular Pay, Limited Pay, and Single Pay options under the premium payment mode, while the premium paying term will be as follows:

• Regular Pay: Equal to the policy term.
• Limited Pay: 5 or 10 years, as long as the premium paying term is shorter than the policy term.
  
• Single Pay: Lump sum amount at policy inception
  
  

3. Does the Tata AIA Saral Jeevan Bima offer a loan facility?

No, the Tata AIA Saral Jeevan Bima does not offer any loan facility under the policy.

Claim

1. How to file a claim under this term plan?

To raise a claim, you can choose any of the following channels to reach out to us.

• Email us at: customercare@tataaia.com
• Call our helpline number - 1860-266-9966 (local charges apply)
• Walk into any of the Tata AIA Life Insurance Company branch offices
• Write directly to us at:

The Claims Department,

Tata AIA Life Insurance Company Limited

B- Wing, 9th Floor,

I-Think Techno Campus,

Behind TCS, Pokhran Road No.2, Close to Eastern Express Highway, Thane (West) 400 607.

IRDA Regn. No. 110

2. Can my nominee file a claim from outside India?

Yes, if your nominee wants to file a claim from outside India, they can file the claim online on our official website and upload all the necessary documents there or send them to us via email.

If they file an offline claim, they will have to courier the documents to their representative in India, who can visit any of our office branches and submit them to file the claim.
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3. What are the documents needed for filing a claim?

Please click here to know the list of documents needed for the claim intimation and settlement process.

• This product is available for online sale.
• The brochure is not a contract of insurance. The precise terms and conditions of this plan are specified in the policy contract
• 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 brochure should be read along with Sales Illustration.
• 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.
• In case of Sub Standard lives, extra premiums will be charged as per our underwriting guidelines.
• Income Tax benefits would be available as per the prevailing income 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.
• 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 Lifes 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/2021/May/0560