TATA AIG Secured Future Plan

Introduction:

• This plan allows a guaranteed monthly income up to 20 years thus totally protecting against future uncertainties and serious financial problems.

Eligibility:

• Minimum age- 18 years and maximum- 70 years.
• Lifetime renewal facility.

Policy Details:

• Policy is for the period of 1 year.
• Flexibility: Depending on the monthly expenditure there are options with monthly income benefits ranging from 10000 INR to 35000 INR, for a period of 5 years to 20 years.
• Guaranteed Monthly Income: The monthly income is not affected due to market risks.

Policy Benefits:

• Accidental Death –Covers injury that results in loss of life
• Accidental Dismemberment & Paralysis - A percentage of the Principal Sum is paid if the injury results in one of the losses specified. (Loss must occur within 365 days from the date of injury).
• Permanent Total Disability - Permanent Total Disability expenses due to injury are borne, provided such condition has continued for a period of 12 consecutive months and are permanent in nature.

Renewal Benefits

• Lifelong renewability: No maximum cover ceasing age in this policy
• Grace Period of 30 days for renewing the policy, waiting period as mentioned in the policy wording gets reduced by 1 year on every continuous renewal.
• Sum Insured Enhancement: Any change in benefits or premium (other than due to change in age) will be done with the approval of the IRDA and will be intimated at least 3 months in advance at the time of renewal.

Free Look Period:

• A period of 15 days after date of receipt of policy to review terms and conditions during which insured can cancel it with due refunds.

Portability:

• If the insured wishes to migrate to another Insurer towards renewal, he can draft an application at least 45 days before the date of renewal.
  

Exclusions:

• Any pre-existing condition.
• Expenses due to suicide/ self-inflicted injury, sexually transmitted diseases, mental/nervous disorder, anxiety or depression, Acquired Immune Deficiency Syndrome (AIDS), Human Immune deficiency Virus (HIV) infection
• Injuries due to involvement in war, invasion or terrorist activity involvement.
• Participation in winter sports, sky diving, scuba diving or related sport activities.
• Accidents due to involvement with related to aircraft, or as a member of the crew.
• Being under the influence of drugs or alcohol.
• Exposure to radioactive substances or diseases due to intoxication.