INSURANCE INSIGHTS
|
JULY 2017
18
19
JULY 2017 |
INSURANCE INSIGHTS
Insurer Name
TATA AIA Life Insurance Company Ltd.
HDFC Standard Life Insurance Company Ltd.
Product name
TATA AIA Life Insurance Fortune Maxima
HDFC Life Capital Shield
Illustrative Maturity Benefit at
4% and 8% return for Premi-
um
R
2,50,000 p.a. for a 35 year
old Male, non-smoker.(as per
insurer's illustration)
(Premium excluding taxes,
surcharge & cess)
R
1,12,64,964 (at 4%)/
R
11,71,36,602 (at 8%)
PPT - 10 years, PT - 65 years
R
12,98,216 (at 4%)/
R
17,80,146 (at 8%)
PPT - 5 years , PT - 10 years
Key Plan Features
Flexibility to pay premium one time or for a lim-
ited period & receive regular Loyalty Additions
to boost investments. Life cover for whole life.
Provides capital guarantee with an Assured Matu-
rity Benefit and increasing Loyalty Additions from
the end of 6th Policy year onwards.
Entry Age(Min/Max)
30 days/60 years
8/60 years
Maturity Age(Min/Max)
18/100 years
18/70 years
Premium paying options
Single Pay, Limited Pay
Single Pay, Limited Pay
Premium Paying Term(PPT)/
Policy Term(PT)
7,8,9,10,15&20 years/100 minus issue age
5 years/10 years
Premium mode
Annual, Half-yearly, Quarterly, Monthly, Single Annual, Half-yearly, Quarterly, Monthly, Single
Sum assured (Min/Max)
SP - 1.25 x SP
LP - 10 x AP/35 X AP
#
SP (Age < 45 years): 125% of SP
SP (Age >= 45 years): 110% of SP
LP (Age < 45 years): 10 x AP
LP (Age between 45 - 54 years): 7 x AP / 10
times AP
LP (Age >= 55 years): 7 x AP
Minimum Annual Premium*
R
50,000 (LP)
R
48,000
Plan options
Not Available
Not Available
Premium Allocation Charges*
Year 1&2 : 6%, Year 3-5 : 5.5%, Year 6-7 :
4.5%, Year 8-10 : 3.5%, Year 11+ : 2%, SP -
3%
4
Year 1: 9%, Year 2&3 - 7%, Year 4&5 - 6%, SP
- 3%
Maturity Benefit*
Fund Value
Higher of:
- Fund Value
- Assured Maturity Benefit
Death Benefit*
Higher of:
- [Higher of Sum Assured net off all “Deduct-
ible Partial Withdrawal” or Fund Value
- 105% of the total premiums paid]
Highest of:
- Sum Assured less an amount for partial with-
drawals made, if any
- Fund Value
- 105% of total premiums paid till the date of
death (Guaranteed Death Benefit)
*Please refer to the Product Brochure for more details.
SP - Single Pay, RP - Regular Pay, LP - Limited Pay, AP - Annualised Premium, SA - Sum Assured, ^The minimum death benefit will be at least 105% of
the premiums paid,
#
Max Sum Assured is dependent on Age and AP,
1
Different for other plan options.
2
Varies as per year, payment mode and premium band
3
Varies as per premium paying term and premium amount,
4
Different for non-annual mode
SAVINGS PLANS (ULIP)
Insurer Name
TATA AIA Life Insurance Company Ltd.
Birla Sun Life Insurance Company Ltd
Product name
TATA AIA Life Insurance Good Kid
BSLI Vision Star Plan
Premium p.a. (for a 35 year old
Male, non-smoker, for SA of Rs.
5 Lakh)
(Excluding taxes, surcharge &
cess)
R
38,095
PPT - 15 years, PT - 20 years
R
41,710
PPT - 10 years, PT - 21 years, Option A
Illustrative Maturity Benefit at
4% and 8% return for above
premium and Sum Assured (as
per insurer's illustration)
R
7,02,448 (at 4%)/
R
11,42,678 (at 8%)
R
5,84,000 (at 4%)/
R
9,83,000 (at 8%)
Key Plan Features
Lump sum death benefit on death of
Insured, waiver of future premiums and
payment of scheduled benefits to take
care of the child's needs.
Flexibility to choose between two Assured
Payout Options.
Entry Age(Min/Max)
25/45 years (Life Assured)
30 days/17 years (Nominee (child))
18/55 years
Maturity Age(Min/Max)
37/70 years
39/75 years
Premium paying options
Limited Pay
Limited Pay
Premium Paying Term(PPT)/
Policy Term(PT)
Policy Term less 5 years/12 to 25 years
5 to 12 years/Option A: 16 to 23 years,
Option B: 14 to 21 years
Premium mode
Annual, Half-yearly, Monthly
Annual, Half-yearly, Quarterly, Monthly
Sum assured (Min/Max)
R
2,50,000/No Limit
R
1,00,000/No Limit
Minimum Annual Premium
R
13,548
1
R
19,095
2
Plan options
Not Available
Option A, Option B
Maturity Benefit*
55% of Basic Sum Assured + Compound
Reversionary bonus + Terminal Bonus (if
any)
Survival Benefit - Available.
1) Accrued bonuses till date; plus
2) Terminal bonus (if any)
Death Benefit*
Sum Assured on Death + All future
outstanding premiums will be waived off +
Other benefits
Sum Assured on Death + No premiums
are required to be paid in future + As-
sured Payouts on the scheduled dates +
Bonuses, if any
CHILD PLANS (TRADITIONAL)
*Please refer to the Product Brochure for more details.
Option 1 - Aspiration, Option 2 - Academia, Option 3 - Career
1
Depends on the Basic Sum Assured selected. Currently taken for 25 year old female, Minimum Sum Assured -
R
2,50,000
2
Depends upon the age, Sum Assured and plan option chosen, Here Male, Age – 18 years, Sum Assured –
R
1 Lakh, PPT – 5 years, PT – 14 years
3
Considered for Age 30 days, Aspiration, Classic option, PPT – 7 years, PT – 18 years, Minimum Premium –
R
24,000
