Tata Aig Life Insurance Company

8/6/2019 Tata Aig Life Insurance Company

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Monish Husian


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y Tata AIG Life is a joint venture company, formed by

Tata Sons & AIG (American International Group Ltd.)

y Tata Sons holds a majority stake (74%) in the company

and AIG holds 26% through an AIA Group company.

y Tata AIG Life Insurance Company Limited was

licensed to operate in India on February 12, 2001 and

started operations on April 1, 2001.


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Mission :

Enhance our customers well-being

Vision :

To be the most trusted life insurance company that

values customers financial well-being, consistently

delivering best-in-class solutions and respected by all


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Tata AIG

LifeInsurance

Risk Plan

Health

Plan

SavingsPlan

RetirementPlan

Wealth

Plan

Child Plan


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y Whole life insurance includes both a death benefit &

a savings component that

y Builds a tax sheltered cash value amount for the

future for the owner of the policy

y Generates periodic cash flow payments over the life

of the policy for the insurance company to reinvest

y Pays fixed death benefit at death


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y Limited premium paying term of just 15 years

y Guaranteed annual cash payment of 5% of Sum

Assured from the 10th policy anniversary onwards

y On death or at maturity at age 100, the entire SumAssured will be paid

y Annual Cash Dividends for the 6th policy anniversary

onwards

y Choice of riders for add on protection

y Tax benefits as per current tax laws & subject to

amendments made from time to time


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PurchaseOf Policy

Pay Premiums only forFirst 15years

AGE 100 orDeath

whichever isearlier:Sum Assured

5% of the Sum Assured every yearfrom the 10th policy Anniversary.

156

Cash Dividendsfrom the 6thpolicy

anniversaryonwards.

100thYear

10


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Premium Paying Term 15 YearsMin / Max Issue Age 30 Days to 60 Years

Maturity Age 100 Years

Max Renewal Age 74 Years

Min Annual Premium Rs. 2500

Min Sum Assured Rs. 25000

Max Sum Assured No limit but subject tofinancial undertaking

Premium Payment Frequency Monthly, Quarterly, Semi-Annual or Annual

Death / Maturity Benefit Entire sum will be paid


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y A short premium payment period of just 15 years

y Life long Guaranteed income via Annual Couponpayments

y A Maturity benefit on reaching age 100 or deathbenefit paid to your nominee (which ever is earlier)

y Tax free payouts and full tax benefits for all premiumspaid

y Most importantly, a LIFETIME COVER


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Mahalife Gold gives you 5% of the SumAssured, guaranteed every year, for life!

PLUS

Non Guaranteed Cash Dividend from 6th

policy anniversary!

*Cash dividends are not guaranteed & based on the performance of thecompany.


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y In case of death before age 100, the SA is given to thenominee as the death benefit

y In case of death of the child (where the child is

insured), the sum assured will be paid to the policyowner.

Death at Age % of Death Benefit Payable

0 20%

1 40%

2 60%

3 80%

4 & Above 100%


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y When the insured reaches age 100, the policy will

mature & the full sum assured + final guaranteed

coupons will be paid to the policy holder or to the

nominee.


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y 30% of total amount of the premiums of the basic

policy paid, excluding the 1st year premium and all

extra premiums of the Basic Policy provided the

premium has been paid for at least three consecutive

years.

30% of the premiums of the Basic Policy Paid - 1st

year Premium + Extra Premiums of the Basic Policy


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y Tata AIG 10/5 Years Renewable Term Rider

y Tata AIG Accidental Death Benefit Rider

y Tata AIG Accidental Death & Dismemberment Rider

y Tata AIG Life Critical Illness Rider

y Tata AIG Waiver of Premium Rider


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y If purchased for a child, the plan can benefit three

generations :

y Tax benefits to the parent

y Lifelong income guaranteed to the child

y A maturity benefit paid to the child when he/ she

reaches age 100 or

y In case of death before age 100, the maturity benefitcan be paid to a grandchild leaving a legacy for the

third generation.


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y Mahalife Gold Policy was purchased for a new-born

healthy child for the Sum Assured of Rs. 5 lakhs.

What are the payouts likely to be?


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Annual Premium Rs. 43,500

Age

of

thechild

Sum

Assured

Annual

Coupons

payable at 5%of Sum Assured

Total

accumulated

value of

GuaranteedCoupons paid

Non Guaranteed Cash

Dividends Paid in Year

Accumulated Value of Total

Cash Dividends payable

(Non Guaranteed)

High Bonus

Rate- 10 %

Low Bonus

Rate 6%

High Bonus

Rate- 10 %

Low Bonus

Rate 6%

10 500,000 25,000 25,000 31,000 7,000 93,000 21,000

15 500,000 25,000 1,50,000 31,000 7,000 2,48,000 56,000

20 500,000 25,000 2,75,000 46,500 10,500 4,18,500 94,500

25 500,000 25,000 4,00,000 46,500 10,500 6,51,000 1,47,000

35 500,000 25,000 6,50,000 46,500 10,500 11,16,000 2,52,000

45 500,000 25,000 9,00,000 46,500 10,500 15,81,000 3,57,000

55 500,000 25,000 11,50,000 46,500 10,500 20,46,000 4,62,000

75 500,000 25,000 16,50,000 46,500 10,500 29,76,000 6,72,000

100 500,000 25,000 22,75,000 46,500 10,500 41,38,500 9,34,500


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y A Mahalife Gold Policy was purchased for a healthy

person aged 30 years for a Sum Assured of Rs. 5 lakhs.

What are the payouts likely to be?


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Annual Premium Rs. 43,500

AgeSum

Assured

Annual

Coupons

payable at 5%

of Sum Assured

Total value of

accumulated

Guaranteed

Coupons paid

Non Guaranteed Cash

Dividends Paid in per Year

Accumulated Value of Total

Cash Dividends payable

(Non Guaranteed)

High BonusRate- 10 %

Low BonusRate 6%

High BonusRate- 10 %

Low BonusRate 6%

40 500,000 25,000 25,000 31,000 7,000 93,000 21,000

45 500,000 25,000 150,000 31,000 7,000 2,48,000 56,000

50 500,000 25,000 2,75,000 46,500 10,500 4,18,500 94,500

55 500,000 25,000 4,00,000 46,500 10,500 6,51,000 1,47,000

60 500,000 25,000 5,25,000 46,500 10,500 8,83,500 1,99,500

65 500,000 25,000 6,50,000 46,500 10,500 11,16,000 2,52,000

75 500,000 25,000 9,00,000 46,500 10,500 15,81,000 3,57,000

100 500,000 25,000 15,25,000 46,500 10,500 27,43,500 6,19,500


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Tata Aig Life Insurance Company

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