Tata AIA Life Insurance Fortune Maxima

General

1. Is a Unit-Linked Insurance Plan (ULIP) the same as a savings plan?

No, a ULIP or Unit-Linked Insurance Plan is a life insurance plan that allows you to earn market-linked returns through your investment. On the other hand, a savings plan enables you to save your money in the policy for the policy term and on maturity, offers a guaranteed maturity benefit.

2. How does a Unit-Linked Insurance Plan work?

When you buy a ULIP, you start paying the premiums as per the selected premium payment mode and term. Each premium will be split into the life cover and the investment. Throughout the premium payment term, the premium of the investment component will buy fund units of the market funds you have invested in. Until the end of the policy term, these funds can keep growing, and on policy maturity, you will receive the fund value.

3. What amount should I invest in my ULIP?

You can pay the minimum annualised premium or the maximum limit for investing in your ULIP. The investment amount should be aligned with your expected returns that will be utilised in the future to meet your financial obligations. Hence, determine your future needs, including any emergency needs, so that you can start investing an amount that will give you the desired returns at the end of the investment tenure.

4. For how long should you invest in a Unit-Linked Insurance Plan?

Since ULIPs are flexible and offer a range of policy terms (investment tenures), you can choose any investment tenure that can help you earn the expected returns. Note that ULIPs have a lock-in period of 5 years, and the policy term will be greater than this lock-in term. You can make partial withdrawals from your ULIP after these 5 years. You can choose your investment period as per the policy term as well as the premium payment term of the ULIP. 5. Do ULIPs offer guaranteed returns?

No, ULIPs do not offer guaranteed returns, as the returns are linked to the market performance and may fluctuate. The amount you receive on maturity is the fund value which reflects how much your investment has grown over the years. You can know the expected returns on your ULIP with a ULIP calculator, but it may not be the same as the actual returns on maturity.

Policy

1. What is the Enhanced SMART option under this ULIP?

The Enhanced SMART option is a portfolio strategy that comprises a systematic transfer plan which is free of charge. You can choose this option instead of the multiple fund options offered under the ULIP. The Enhanced SMART is available only for the Single Pay or Annual premium mode. If you want to switch between funds, you can only switch between the fund options offered under this strategy.

2. How does the partial withdrawal feature work under the Tata AIA Fortune Maxima?

Withdrawals from the ULIP fund can be made under the Regular/Single Premium mode 5 years from the date of the policy being issued. The minimum amount for partial withdrawal is ₹1,000/-, subject to policy terms and conditions. In case the insured of the ULIP is a minor, they can only make partial withdrawals after the age of 18 years. Any number of partial withdrawals can be made in a policy year provided the total amount of partial withdrawals in a policy year does not exceed 25% of the fund value.

Coverage

1. Does the Tata AIA Fortune Maxima offer whole-life coverage?

Yes, you can avail of whole life insurance coverage of up to 100 years of age with Tata AIA Fortune Maxima.

2. What is the minimum premium payable under this ULIP policy?

The minimum premium payable under this ULIP is as follows:

o Single Pay – ₹25,000 o Limited Pay – ₹12,000 p.a.

3. What are the optional riders available under this ULIP plan?

The following riders are available under the Tata AIA Fortune Maxima:

• Tata AIA Waiver of Premium (Linked) Rider - Linked, Individual, Health Insurance Rider (UIN:110A026V02)

• Tata AIA Waiver of Premium Plus (Linked) Rider - Linked, Individual, Health Insurance Rider (UIN:110A025V02)

• Tata AIA Accidental Death and Dismemberment (Long Scale) (ADDL) Linked Rider – Linked Individual, Health Insurance Rider (UIN:110A027V02)

• Tata AIA Vitality Protect Plus - A Non-Linked, Non- Participating Individual Health rider (UIN:

110A048V02)

• Tata AIA Vitality Health Plus - A Non-Linked, Non- Participating Individual Health rider (UIN: 110A047V02)

• Tata AIA Life Insurance Linked Comprehensive Health Rider - A Non-Linked, Non- Participating Individual Health rider (UIN: 110A031V02)

• Tata AIA Life Insurance Linked Comprehensive Protection Rider- A Non-Linked, Non- Participating Individual Health rider (UIN: 110A032V02)

4. What is a Top-Up premium under this policy?

When your policy is in force, you can opt for a Top-Up premium wherein you can top-up your policy with additional premiums 4 times a year. The top-up cannot be paid in the last 5 years of the policy term and should be a minimum of ₹5,000 and will be subject to a lock-in period of 5 years.

Claim

1. How can I reach Tata AIA Life Insurance to file a claim?

To file a claim with us, reach out to us via the following channels:

● 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. Which claims can I file under the Tata AIA Fortune Maxima?

In case of an unfortunate death of the life assured within the policy term, the nominee can file a death claim to receive the sum assured. If the policyholder survives the policy term, then they should file a maturity claim when the policy matures to receive the maturity benefit, which is the fund value.

3. How can my nominee file a claim from another country?

Yes, your nominee can file a claim online or offline from outside India. For an online claim, they can simply upload the required documents online or send us soft copies via email. For an offline claim, the nominee can have their representative in India visit any of our office branches with the documents couriered to them.

4. What are the documents needed to file a claim under this ULIP?
Please click here to know the list of documents needed for the claim intimation and settlement process.

DISCLAIMERS:

• The Product is also available for sales through online mode

• Investments are subject to market risks.

• Unit Linked Life Insurance products are different from the traditional insurance products and are subject to the risk factors. Please know the associated risks and the applicable charges, from your Insurance agent or the Intermediary or policy document issued by the insurance company.

• The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these plans, their future prospects and returns. The underlying Fund’s NAV will be affected by interest rates and the performance of the underlying stocks

• The performance of the managed portfolios and funds is not guaranteed and the value may increase or decrease in accordance with the future experience of the managed portfolios and funds. Past performance is not indicative of future performance.

• 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.

• The Premium paid in the Unit Linked Life Insurance Policies are subject to market risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the Insured is responsible for his/her decisions.

• Under ULIP, where premium exceeds Rs 250,000 in a Financial year issued on or after 01st Feb 2021, no exemption would be available in accordance to section 10(10D) of Income Tax Act read with subsequent clarification issued by CBDT

• 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 total premiums paid.

• The brochure is not a contract of insurance. This brochure should be read along with Benefit Illustration. The precise terms and conditions of this plan are specified in the policy contract available on Tata AIA Life website.

• Tata AIA Life Insurance Company Ltd. is only the name of the Insurance Company and Tata AIA Life Insurance Fortune Maxima is only the name of the Unit Linked Life Insurance Contract and does not in any way indicate the quality of the contract, its prospects or returns.

• 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.

• Riders are not mandatory and are available for a nominal extra cost. For more details on benefits, premiums and exclusions under the Rider(s), please contact Tata AIA Life's Insurance Advisor/ Branch.

• Participation by customers shall be on voluntary basis

• This product will be offered only to Standard lives

• 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/2023/Sep/2940