TATA AIG Secured Future Plan

*Please note that the quotes shown will be from our partners

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.