TATA AIG Pension Plans

• The policy holder is eligible for tax benefits according to the Income Tax Act.
• The minimum policy cover for this Rs.50000/-
• Riders can be added at nominal costs.
• The age criteria to own this policy is between 18 years and 55 years.
• The payment of premium will be made quarterly, monthly, half yearly or even annually based on the specifications of the policy holder. 

• 1/3rd of the benefit amount can be taken in lump sum after maturity and the residual amount can be used to buy an annuity to ensure a monthly income post retirement.
• After every 5 years of the policy being in use, there will be a guaranteed addition of 10% on sum assured to the retirement corpus.
• Terminal Bonus and Compound Reversionary Bonus are applicable.
• The policy offers a guaranteed additional bonus of 2% on sum assured in the first year of the policy itself.
• Tax benefits are available as per Section 80C of Income Tax Act. 

• There is Critical Illness Cover in the first 3 years of the policy. The policy holder can utilize this benefit after 180 days of the issue date, reinstatement or commencement date of the policy, whichever is earlier.
• If there is death of the policy holder during the policy period, the beneficiary will receive the sum assured and is even eligible for bonus if there are any.
• If the policy holder dies during the policy term due accident, the beneficiary will receive double the amount of sum assured and bonuses if any.
• For being eligible to get this policy, there is no requirement of medical test. A health declaration has to be signed to complete the procedure if your age is between 18 to 45 years.
• There is 15-day money back guarantee if the policy holder wants to withdraw from the policy.
• The premium payment can be quarterly, monthly, half yearly or even annually. The premium payment is accepted in means of credit card or cheque. The monthly payment has to be made only by credit cards. 

• There is no limit for the sum assured. 
• If there is a death or after maturity, the beneficiary gets sum assured along with terminal and reversionary bonuses.
• The beneficiary gets a guaranteed additional 10% more on sum assured.
• The policy holder will have tax benefits as per the sections 80C and 10D as per the Income Tax Act. 

• The minimum age criterion to enter this policy is 18 years and the maximum is 50 years.
• The minimum limit for sum assured is Rs. 25000.
• The premium given depends on the age of the policy holder and on the policy cover chosen.
• This policy has 15 day money back guarantee
• If the premium payment is delayed, the grace period of 31 days are given. If the premium payment is not made even after grace period, it will be converted to automatic loan of the policy holder and the company can charge interest according to the applicability.