INSURANCE INSIGHTS
|
JULY 2017
16
17
JULY 2017 |
INSURANCE INSIGHTS
Insurer Name
TATA AIA Life Insurance Company Ltd.
HDFC Standard Life Insurance Company
Ltd.
Birla Sun Life Insurance Company Ltd
TATA AIA Life Insurance Company Ltd.
Product name
TATA AIA Life Insurance Wealth Maxima
HDFC Life Sampoorn Nivesh
BSLI Fortune Elite Plan
TATA AIA Life Insurance Wealth Pro
Illustrative Maturity Benefit at
4% and 8% return for Premium
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
1,14,47,483 (at 4%)/
R
11,81,82,781 (at
8%)
PPT - 10 years, PT - 65 years
R
63,06,841 (at 4%)/
R
98,96,775 (at 8%)
PPT - 20 years , PT - 20 years, Classic Option
R
35,57,097 (at 4%)/
R
65,27,639 (at 8%)
PPT - 10 years, PT - 20 years
R
35,18,077 (at 4%)/
R
64,12,130 (at 8%)
PPT - 10 years, PT - 20 years
Key Plan Features
Flexibility to pay premium one time or for
a limited period & receive regular Loyalty
Additions to boost investments. Life cover
for whole life.
Provides 3 Benefit Options with an option of
Accidental Death Benefit & Loyalty Additions
after 10 policy years.
Flexibility to choose from 3 investment options to suit your investment
needs and flexibility to add top-ups whenever you have additional
savings.
Flexibility to pay premium one time or for a limited period &
receive regular Loyalty Additions to boost investments.
Entry Age(Min/Max)
30 days/60 years
30 days/5 Pay:54 years, Other than 5 Pay:60
years (Classic Option)
1
1/55 years
30 days/60 years
Maturity Age(Min/Max)
18/100 years
18/5 Pay:64 years, Other than 5 Pay:70 years
(Classic Option)
1
21/70 years
18/75 years
Premium paying options
Single Pay, Limited Pay
Single Pay, Limited Pay, Regular Pay
Limited Pay, Regular Pay
Single Pay, Limited Pay, Regular Pay
Premium Paying Term(PPT)/
Policy Term(PT)
SP, LP – 7,8,9,10,15,20 years/ 100 minus
issue age
SP, LP: 5,7,10 years, RP/10, 15 to 25 years
5, 10,1 5, 20/20, 25, 30, 35, 40 years
SP, LP- 5, 7, 10 years, RP & LP – 15 & 20 years/15 to 40
years
Premium mode
Annual, Half-yearly, Quarterly, Monthly,
Single
Single, Annual, Half-yearly, Quarterly, Monthly
Annual, Half-yearly, Quarterly, Monthly
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 and RP (Age < 45 years): Higher of 10 x
AP or 0.5 x policy term x AP
LP and RP (Age >= 45 years):Higher of 7 x AP
or 0.25 x policy term x AP/10 x AP
Age<45 years - Higher of Basic Premium payable in a policy year x 10
or Basic Premium payable in a policy year x PT/2
Age>=45 years – Higher of AP x 10 or AP x PT/4)
SP - 1.25 x SP
LP - 10 x AP/30 X AP
#
Minimum Annual Premium
R
2,50,000 (LP)
R
24,000
R
75,000
R
2,50,000 (RP/LP)
Plan options
Not Available
Classic (Life) Option, Classic (Extra Life) Option,
Classic Plus Option, Classic Waiver Option
Not Available
Not Available
Premium Allocation Charges*
3
Premium < Rs. 5 Lakh - Year 1 : 6%, Year
2 : 5.5%, Year 3-5 : 5%, Year 6-7 : 4%,
Year 8-10 : 3%, Year 11 onwards - 1.5%,
SP - 3%
2
Annual Mode, Less than Rs. 1 Lakh Premium
Band, Year 1 - 9%
R
40,000-
R
2,49,999 - Year 1&2 : 5.50%, Year 3+ : 5%
R
2,50,000+ - Year 1&2 : 4.50%, Year 3+ : 4%
3
Premium < Rs. 5 Lakh - Year 1 : 6%, Year 2 : 5.5%, Year
3-5 : 5%, Year 6-7 : 4%, Year 8-10 : 3%, Year 11 onwards -
1.5%, SP - 3%
Maturity Benefit*
Fund Value
Fund Value
Fund Value
Fund Value
Death Benefit*
Higher of:
- Higher of Sum Assured net off all “De-
ductible Partial Withdrawal”or Fund Value
- 105% of the total premiums paid
Classic Option - Highest of:
- Sum Assured,
- Fund Value,
- 105% of premium(s) paid
For additional benefits for Classic Plus and
Classic Waiver option, please refer to the to the
product brochure.
^
Higher of:
Basic Fund Value or Basic Sum Assured
In addition, higher of
Top-up Fund Value or Top-up Sum Assured
Higher of:
- Higher of Sum Assured net off all “Deductible Partial
Withdrawal”or Fund Value
- 105% of the total premiums paid
*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)
SAVINGS PLANS (ULIP)
