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- Calculate Premium Max Life Smart Wealth Plan In life, nothing gives more pleasure than seeing your loved ones fulfill their dreams, while you watch over them.
Term 15 years payment of additional investment income smart policy 7 years Term 21 years payment of additional investment income smart policy 10 years Term 25 years — 12 years Sum assured 11 times of the annualised premium Premium payment mode Monthly, quarterly, half-yearly and yearly Free look period 15 days 30 days if the policy is sold through distance marketing Grace period 15 days for monthly premium payment frequency, 30 days for other modes. Grace period: Policyholders are provided with a grace period of 15 days in case of monthly premium payment frequency, and 30 days for other premium payment mode starting from the due date of premium payment.
If a policy claim arises during the grace period, the amount paid against the claim will be deducted by the amount of unpaid premiums. Policy lapse: If the policyholder fails to make premium payment within the specified grace period, the plan will lapse.
Policy revival: A lapsed plan can be revived within 2 years before it matures. For this, the policyholder needs to provide a written request to the company for the revival of the policy. A valid certificate of insurability is required to submit along with the amount of all unpaid premiums that are due to the policy.
Free-look period: Policyholders are provided with a free look period of 15 days 30 days if the policy is sold via digital marketing channels. If you wish to cancel the policy, you may do so within the specified free-look period.
If the customer found this plan unsatisfactory, the plan can be cancelled within this period, and the premium paid would be refunded to the customer after deducting the applicable charges such as service tax and stamp duty.
The loan facility is available after it has acquired a surrender value. Assignment: Assignment of policy is permitted under Section 38 of the Insurance Act, Nomination: Nomination for the policy is allowed under Section 39 of the Insurance Act, Riders: If the policyholder wants to enhance the coverage offered by Tata AIA Smart Income Plus Plan, they can opt for additional riders that are available with the plan.
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The riders can be chosen at the time of policy commencement. Online payment: Customers have an option to make premium payments online at their convenience.
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Track policy application: Customers can also track their policy application from the official website of Tata AIA to find out its progress. Discounted premium rates for female customers: The company offers discounted premium rates to female policyholders.
This benefit depends on the amount of premium payable and the plan option selected as illustrated below: For option 1 — Regular Income Annual premium Large premium Boost as a percentage of GMP Rs.