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:

*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