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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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