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  • Tata Aia Ulip Riders

    Life Insurance
    • Premiums as low as Rs.17/day for sum assured of Rs.1 crore*
    • Claim up to Rs. 1,50,000 deduction under section 80C**
    • Choose between annual and monthly premium payment options

    Along with the regular insurance products offered by Tata AIA Life Insurance, the insurer gives its customers the benefit of additional riders. The riders, which customers can choose to buy, offers enhanced protection and security to the policyholder and his/her dependents. The Tata AIA ULIP Riders offers additional  financial security to the family and dependents of the policyholder in case of his/her untimely death, as well offers a waiver in premiums following an eventuality.

    Features and benefits of Tata AIA ULIP Riders

    Listed below are the features and benefits of Tata AIA ULIP Riders:

    • The rider can be purchased by the policyholder equivalent to the sum of the base policy.
    • Waiver of premiums following the untimely death of the policyholder or permanent disability resulting from an accident.
    • Lump sum payout to the nominee following accidental death or dismemberment of the policyholder.
    • Tax benefits under Section 80D of the Income Tax Act, 1961.

    ULIP Riders provided by Tata AIA Life Insurance

    To provide enhanced protection and security to the policyholder and his/her dependents, Tata AIA Life Insurance has rolled out three additional and optional riders. The details of each rider are listed below.

    Tata AIA Life Insurance Waiver of Premium (Linked) Rider: If in case the policyholder is not fit to pay the premiums towards the base plan, due to permanent disability arising from an accident or sickness, with the Tata AIA Life Insurance Waiver of Premium Rider all future premiums will be waived till the point of maturity of the base plan or till the policyholder attains the age of 65.

    Features and benefits of the Tata AIA Life Insurance Waiver of Premium (Linked) Rider:

    • If the policyholders is not fit to pay the premiums due to total and permanent disability caused from an accident or sickness, then all future premiums will be waived with the help of the Tata AIA Life Insurance Waiver of Premium (Linked) Rider.
    • To be eligible for the Tata AIA Life Insurance Waiver of Premium (Linked) Rider, the minimum entry age is 18 years and the maximum is 60 years.
    • The maximum maturity age of the Tata AIA Life Insurance Waiver of Premium (Linked) Rider is 65 years.
    • The minimum rider term is 5 years.  
    • The rider coverage will be discontinued if the policyholder fails to pay the premiums of the base policy.
    • No rider benefit shall be applicable if the policyholder commits suicide within the first twelve months of the  base policy or if:
      • Death or disability is caused due intake of alcohol or drugs.
      • If the policyholder dies or is permanently disabled following any flying activity.
      • If death or disability is caused as a result of war, terrorism or civil unrest.
      • Death or disability caused as a result of radioactive contamination.
      • The policyholder engages in any criminal activity.
      • If the policyholder has failed to take any medical advice.
    • The policyholder can make nominations as per Section 39 of the Insurance Act, 1938.
    • The policyholder can also make assignments as per Section 38 of the Insurance Act, 1938.
    • Policyholders can also avail tax benefits under Section 80D of the Income Tax Act, 1961.
    Rider Entry Age Maturity Age Premium
    Tata AIA Life Insurance Waiver of Premium (Linked) Rider Minimum: 18 years Maximum: 60 years 65 years Same as base policy

    Tata AIA Life Insurance Waiver of Premium Plus (Linked) Rider: The Tata AIA Life Insurance Waiver of Premium Plus (Linked) Rider ensures that all the benefits of the base plan continue even after the death or permanent disability of the policyholder arising from an accident or sickness. In this case, the premiums will be waived and all benefits of the base policy will be applicable.

    Features and benefits of the Tata AIA Life Insurance Waiver of Premium Plus (Linked) Rider:

    • With the Tata AIA Life Insurance Waiver of Premium Plus (Linked) Rider, all benefits of the base plan will be applicable even after the death or disability of the policyholder.
    • Following the unfortunate death and disability of the policyholder, all future premiums will be waived.
    • To be eligible for the Tata AIA Life Insurance Waiver of Premium Plus (Linked) Rider, the minimum entry age is 18 years and the maximum is 60 years. The maximum maturity age of the rider is 65 years.
    • The minimum rider term is 5 years.
    • The rider coverage will be discontinued if the policyholder fails to pay the premiums of the base policy.
    • No rider benefit shall be applicable if the policyholder commits suicide within the first twelve months of the  base policy or if:
      • The policyholder has failed to take any medical advice.
      • Death or disability is caused due intake of alcohol or drugs.
      • He/she engages in any criminal activity.
      • If the policyholder dies or is permanently disabled following any flying activity.
      • If death or disability is caused as a result of war, terrorism or civil unrest.
      • Death or disability caused as a result of radioactive contamination.
    • Policyholders can also avail tax benefits under Section 80D of the Income Tax Act, 1961.
    • The policyholder can make nominations as per Section 39 of the Insurance Act, 1938.
    • The policyholder can also make assignments as  Section 38 of the Insurance Act, 1938.
    Rider Entry Age Maturity Age Premium
    Tata AIA Life Insurance Waiver of Premium Plus (Linked) Rider Minimum: 18 years Maximum: 60 years 65 years Same as base policy

    Tata AIA Life Insurance Accidental Death and Dismemberment (Long Scale) (ADDL) Linked Rider: In case of untimely death or dismemberment of the policyholder arising from an accident or sickness, the Tata AIA Life Insurance Accidental Death and Dismemberment (Long Scale) (ADDL) Linked Rider offers a lump sum payout to the nominee or dependents to help them get through the trauma financially.

    Features and benefits of the Tata AIA Life Insurance Accidental Death and Dismemberment (Long Scale) (ADDL) Linked Rider:

    • Lump sum payout in the case of unfortunate death or permanent disability of the policyholder.
    • To be eligible for the Tata AIA Life Insurance Accidental Death and Dismemberment Linked Rider, the policyholder has to be a minimum of 18 years and a maximum of 60 years.
    • The maturity age of the rider is 70 years or the maximum maturity age of the base plan (whichever is lower).
    • The minimum sum assured of the  Tata AIA Life Insurance Accidental Death and Dismemberment Linked Rider is Rs.50,000. There is no limit to the maximum sum assured.
    • The minimum rider coverage term is 5 years.
    • A double benefit is granted to the policyholder if accidental injury is caused from the following circumstances:
      • If the insured is injured following an accident involving public transport.
      • If he/she is injured following a fire in a theatre, cinema, public auditorium, hotel, school or hospital.
      • If the policyholder is injured while travelling on a scheduled commercial airplane.
    • The rider will be terminated if the policyholder fails to pay the premiums of the base policy or if he/she surrenders the base policy.
    • No rider benefit shall be applicable if the policyholder commits suicide within the first twelve months of the  base policy or if:
      • Death or disability caused as a result of radioactive contamination.
      • The policyholder has failed to take any medical advice.
      • Death or disability is caused due intake of alcohol or drugs.
      • The policyholder engages in any criminal activity.
      • If the policyholder dies or is permanently disabled following any flying activity.
      • If death or disability is caused as a result of war, terrorism or civil unrest.
      • Self-inflicted injury.
    • The policyholder can also make assignments as  Section 38 of the Insurance Act, 1938.
    • Policyholders can also avail tax benefits under Section 80D of the Income Tax Act, 1961.
    • The policyholder can make nominations as per Section 39 of the Insurance Act, 1938.

    Why you should buy the Tata AIA Life Insurance ULIP Riders from Tata AIA Life Insurance

    In 2016, Tata AIA Life Insurance recorded an 85% growth in the sale of insurance products ranging from life insurance, health insurance, retirement and child products, etc. In the same year, Tata AIA Life Insurance currently recorded a claim settlement ratio of 96.8%. Tata AIA Life Insurance has garnered awards such as the AON Best Employers Award for 2016 and 2017, and the Golden Peacock Award for Risk Management 2016 and is known to have a top-notch customer service department that keeps customer satisfaction its top priority.

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