TATA AIG Secured Income Plan

Introduction:

This allows you to cover for yourself as well as family by securing your income during uncertain times.

Eligibility:

  • Minimum age- 18 years and maximum- 65 years.

Policy Details:

  • Individual is covered for accidental death, dismemberment and Permanent Total loss of use of limbs resulting from an accident.
  • The insured individual receives regular monthly payments for 5 years after the initial lump sum benefit pay out.
  • Daily benefit is paid as specified up to a maximum of 5 days starting from the 4th day of hospitalization.
  • Coverage is provided worldwide, 365 days a year and 24 hours a day.
  • Applicable for lifetime renewal if premium is paid continuously.

Policy Benefits:

Accidental death:

  • 10% of the total insured sum paid as initial payment.
  • Remainder of the amount is paid in monthly instalments over the next 60 months.
  • Per day hospital cash (up to 5 days) is paidin case of accident/hospitalization for more than 4 days.

Premium Details:

 

Coverage

Benefit Level

5 Lacs

10 Lacs

15 Lacs

20 Lacs

High Level

1283

2565

Level 3: 3846

Level 4: 5129

Low level

855

1710

 

 

*The above rates may change. Please check the policy wordings for more details.

 

Renewal Benefits

  • Lifelong renewability: no maximum cover ceasing age in this policy
  • Grace Period of 30 days for renewing the policy, waiting periods 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
  • If you are under the influence of drugs or alcohol
  • Exposure to radioactive substances or diseases due to intoxication