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    Benefit Factor Tables of Tata AIA Life Insurance Smart Income Plan

    Uploaded by

    Anamika Sharma
    The document outlines the guaranteed payout and maturity payout factors for Tata AIA Life Insurance's Smart Income Plan. It provides tables that show the guaranteed payout percentages and multiples of annualized premium that will be paid out under two plan options, based on factors like gender, age band, and premium payment term. The tables also specify guaranteed maturity payout percentages of annualized premium that will be paid at maturity under the different plan options.

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    Benefit Factor Tables of Tata AIA Life Insurance Smart Income Plan

    Uploaded by

    Anamika Sharma
    71 views3 pages
    The document outlines the guaranteed payout and maturity payout factors for Tata AIA Life Insurance's Smart Income Plan. It provides tables that show the guaranteed payout percentages and multiples of annualized premium that will be paid out under two plan options, based on factors like gender, age band, and premium payment term. The tables also specify guaranteed maturity payout percentages of annualized premium that will be paid at maturity under the different plan options.

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    Benefit Factor Table

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    The document outlines the guaranteed payout and maturity payout factors for Tata AIA Life Insurance's Smart Income Plan. It provides tables that show the guaranteed payout percentages and multiples of annualized premium that will be paid out under two plan options, based on factors like gender, age band, and premium payment term. The tables also specify guaranteed maturity payout percentages of annualized premium that will be paid at maturity under the different plan options.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    71 views3 pages

    Benefit Factor Tables of Tata AIA Life Insurance Smart Income Plan

    Uploaded by

    Anamika Sharma
    The document outlines the guaranteed payout and maturity payout factors for Tata AIA Life Insurance's Smart Income Plan. It provides tables that show the guaranteed payout percentages and multiples of annualized premium that will be paid out under two plan options, based on factors like gender, age band, and premium payment term. The tables also specify guaranteed maturity payout percentages of annualized premium that will be paid at maturity under the different plan options.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 3

    Benefit Factor Tables of Tata AIA Life Insurance Smart Income Plan

    Guaranteed Payout Factors:


    Option I: Regular Income Plan
    The Guaranteed Payout (GP) Factors vary by the chosen Premium Paying Term and are
    independent of Age and Gender.

    Policy Term/Premium Payment Term (years) 15/7 21/10 25/12


    Guaranteed Payouts as percentage (%) of AP 120% 140% 160%

    Option II: Endowment


    Provided Policy is in-force and all due premiums have been paid, a Guaranteed Payout (GP)
    determined as a multiple of the Annualised Premium (AP) will be paid at the end of Policy
    year preceding the year of Maturity. The Guaranteed Payout Factors vary by the chosen
    Premium Payment Term, Age and Gender as mentioned in the table below:

    Male lives:
    Guaranteed Payout as multiple of Annualised Premium
    Age# Band | PPT 7 years 10 years 12 years
    0 to 10 5.57 10.28 14.92
    11 to 15 5.58 10.39 15.03
    16 to 20 5.57 10.38 15.02
    21 to 25 5.56 10.37 15.02
    26 to 30 5.55 10.36 15.01
    31 to 35 5.53 10.36 15.00
    36 to 40 5.49 10.35 14.97
    41 to 45 5.41 10.32 14.81
    46 to 50 5.26 10.23 14.50

    Female lives:
    Guaranteed Payout as multiple of Annualised Premium
    Age# Band | PPT 7 years 10 years 12 years
    0 to 10 5.52 10.20 14.78
    11 to 15 5.59 10.40 15.04
    16 to 20 5.57 10.39 15.03
    21 to 25 5.56 10.38 15.02
    26 to 30 5.55 10.37 15.02
    31 to 35 5.54 10.36 15.01
    36 to 40 5.51 10.36 15.00
    41 to 45 5.46 10.35 14.92
    46 to 50 5.36 10.29 14.71
    #
    Age on last birthday

    Tata AIA Life Insurance Smart Income Plan (UIN: 110N126V04)


    1|Page
    Guaranteed Maturity Payout Factors:

    Option I: Regular Income

    Provided the Policy is in-force and all due premiums have been paid, an amount equal to the
    Guaranteed Maturity Payout (GMP) will be paid as a lump sum at Maturity. The last
    instalment of GP will be paid along with the Maturity Benefit. The GMP will be equal to GMP
    Factor multiplied by Annualised Premium. The GMP Factors will vary as per the Age at entry,
    Gender and Premium Payment Term selected as mentioned in the table below:

    Male lives:
    Guaranteed Maturity Payout as percentage (%) of Annualised Premium
    Age# Band | PPT 7 years 10 years 12 years
    0 to 10 161% 316% 401%
    11 to 15 162% 318% 405%
    16 to 20 158% 312% 397%
    21 to 25 155% 308% 392%
    26 to 30 153% 305% 388%
    31 to 35 145% 296% 381%
    36 to 40 130% 279% 367%
    41 to 45 103% 246% 328%
    46 to 50 46% 178% 238%

    Female lives:
    Guaranteed Maturity Payout as percentage (%) of Annualised Premium
    Age# Band | PPT 7 years 10 years 12 years
    0 to 10 143% 300% 380%
    11 to 15 164% 321% 408%
    16 to 20 160% 315% 401%
    21 to 25 156% 310% 395%
    26 to 30 155% 307% 391%
    31 to 35 150% 302% 385%
    36 to 40 140% 290% 377%
    41 to 45 121% 269% 356%
    46 to 50 74% 224% 301%
    #
    Age on last birthday

    Tata AIA Life Insurance Smart Income Plan (UIN: 110N126V04)


    2|Page
    Option II: Endowment

    Provided the Policy is in-force and all due premiums have been paid, the Minimum
    Guaranteed Sum Assured on Maturity which is equal to the Guaranteed Maturity Payout
    (GMP) will be paid at Maturity. The amount of benefit shall be equal to the Guaranteed
    Payout paid under Option II.

    Male lives:
    Guaranteed Payout as multiple of Annualised Premium
    Age# Band | PPT 7 years 10 years 12 years
    0 to 10 5.57 10.28 14.92
    11 to 15 5.58 10.39 15.03
    16 to 20 5.57 10.38 15.02
    21 to 25 5.56 10.37 15.02
    26 to 30 5.55 10.36 15.01
    31 to 35 5.53 10.36 15.00
    36 to 40 5.49 10.35 14.97
    41 to 45 5.41 10.32 14.81
    46 to 50 5.26 10.23 14.50

    Female lives:
    Guaranteed Payout as multiple of Annualised Premium
    Age# Band | PPT 7 years 10 years 12 years
    0 to 10 5.52 10.20 14.78
    11 to 15 5.59 10.40 15.04
    16 to 20 5.57 10.39 15.03
    21 to 25 5.56 10.38 15.02
    26 to 30 5.55 10.37 15.02
    31 to 35 5.54 10.36 15.01
    36 to 40 5.51 10.36 15.00
    41 to 45 5.46 10.35 14.92
    46 to 50 5.36 10.29 14.71
    #
    Age on last birthday

    Tata AIA Life Insurance Smart Income Plan (UIN: 110N126V04)


    3|Page

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