Tata AIA Life Insurance Money Maxima is a traditional participating Endowment Assurance plan with Regular premium payment. The plan aims to grow the savings of policyholder through bonus and Guaranteed Additions benefit.
|
|
Minimum |
Maximum |
|
Entry Age (Last Birthday) |
12 years |
50 years |
|
Maturity Age (Last Birthday) |
- |
75 years |
|
Policy Term (PT) in years |
12 years |
30 years |
|
Premium Paying Term (PPT) in years |
Equal to policy term |
|
|
Premium Paying Frequency |
Annual, Half-yearly, monthly |
|
|
Yearly Premium |
12,000 |
Depends on SA |
|
Sum Assured |
100,000 |
No limit |
Details About Premium
Annual premium in Rupees for a SA of 5 Lakhs and benefit illustration
|
Age |
Annual Premium |
Guaranteed Loyalty Additions |
Benefits @ 4% |
Benefits @ 8% |
|||||
|
|
Simple Reversionary Bonus |
Terminal Bonus |
Maturity Value |
Simple Reversionary Bonus |
Terminal Bonus |
Maturity Value |
|||
|
25 |
30,000 |
62,500 |
368,750 |
254,438 |
11,85,688 |
600,000 |
588,000 |
17,50,500 |
|
|
35 |
31,390 |
62,500 |
368,750 |
254,438 |
11,85,688 |
600,000 |
588,000 |
17,50,500 |
|
Grace Period: 15 days grace period is allowed for payment of premium in monthly mode and 30 days for annual and half-yearly mode. If policyholder fails to make payment within the grace period, the policy lapses
Policy Termination or Surrender Benefit: the policy can be surrendered anytime if one full years’ premium has been paid. The Surrender value will be higher of the Guaranteed Surrender Value (GSV) or Special Surrender Value (SSV) where
GSV = total premiums paid*GSV Factor for premiums + (vested Simple Reversionary Bonus* GSV Factor for bonus)
SSV = SSV Factor *Reduced Paid-up SA +vested Simple Reversionary Bonus+ Guaranteed Loyalty Additions
Free Look Period: If you would not be pleased with the coverage, and terms and conditions of the policy, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there has been no claim.
Policyholder has to fill up an ‘Application form/ proposal form’ with accurate medical history along with the address proof. Medical examination may be required in some cases, based on the sum assured and the age of the person.
