| Annexure |
| |
| Premium
Allocation Charges |
| Age |
%
Charge For 1st Premium Year |
|
|
%
Charge For 2nd Premium Year |
|
|
%
Charge For 3rd Premium Year |
| |
15YR |
20YR |
30YR |
15YR |
20YR |
30YR |
All Terms |
| 0 - 45 |
40.00% |
50.00% |
50.00% |
20.00% |
25% |
25% |
1% |
| 46 |
37.50% |
47.50% |
- |
20.00% |
25% |
- |
1% |
| 47 |
35.00% |
45.00% |
- |
20.00% |
25% |
- |
1% |
| 48 |
32.50% |
42.50% |
- |
20.00% |
25% |
- |
1% |
| 49 |
30.00% |
40.00% |
- |
20.00% |
25% |
- |
1% |
| 50 |
27.50% |
37.50% |
- |
20.00% |
25% |
- |
1% |
| 51 |
26.00% |
35.00% |
- |
19.00% |
25% |
- |
1% |
| 52 |
24.50% |
32.50% |
- |
18.00% |
25% |
- |
1% |
| 53 |
23.00% |
30.00% |
- |
17.00% |
25% |
- |
1% |
| 54 |
21.50% |
27.50% |
- |
16.00% |
25% |
- |
1% |
| 55 |
20.00% |
25.00% |
- |
15.00% |
25% |
- |
1% |
| 56 |
19.50% |
- |
- |
14.50% |
- |
- |
1% |
| 57 |
19.00% |
- |
- |
14.00% |
- |
- |
1% |
| 58 |
18.50% |
- |
- |
13.50% |
- |
- |
1% |
| 59 |
18.00% |
- |
- |
13.00% |
- |
- |
1% |
| 60 |
17.50% |
- |
- |
12.50% |
- |
- |
1% |
| |
|
|
|
|
|
|
|
| If the Annual Premium is greater than Rs.50,000 but less than
Rs.1 crore, then the premium charge for the 1st year will be reduced by 10%. |
| If
the Premium amount for 1st year is greater than or equal to Rs.1 crore but
less than Rs.1.8 crore then the premium charge for first two years is reduced
by 75%. If the premium amount is greater than or equal to Rs.1.8 crore, then
the premium charges are zero throughout the term. |
| |
| |
| Surrender
and Partial Withdrawal Charges |
|
| Partial Withdrawal charges are the same as those for full
surrender, on a proportionate basis. Partial withdrawal can be repeated but
subject to a maximum of 4 per policy year, however no regular partial
withdrawals will be allowed. |
| |
| Policy
Month |
Charges as % of Regular Premium Fund Value |
Policy Month |
Charges
as % of Regular Premium Fund Value |
| |
20 & 30 Year |
15 Year |
|
20 & 30 Year |
15 Year |
| 0-24 |
Not Applicable |
49 |
16 |
8 |
| 25 |
Not Applicable |
50 |
16 |
8 |
| 26 |
Not Applicable |
51 |
16 |
8 |
| 27 |
Not Applicable |
52 |
14 |
6 |
| 28 |
Not Applicable |
53 |
14 |
6 |
| 29 |
Not Applicable |
54 |
14 |
6 |
| 30 |
Not Applicable |
55 |
12 |
4 |
| 31 |
Not Applicable |
56 |
12 |
4 |
| 32 |
Not Applicable |
57 |
12 |
4 |
| 33 |
Not Applicable |
58 |
10 |
2 |
| 34 |
Not Applicable |
59 |
10 |
2 |
| 35 |
Not Applicable |
60 |
10 |
2 |
| 36 |
Not Applicable |
61 |
8 |
0 |
| 37 |
30 |
24 |
62 |
8 |
0 |
| 38 |
30 |
24 |
63 |
8 |
0 |
| 39 |
30 |
24 |
64 |
6 |
0 |
| 40 |
25 |
20 |
65 |
6 |
0 |
| 41 |
25 |
20 |
66 |
6 |
0 |
| 42 |
25 |
20 |
67 |
4 |
0 |
| 43 |
20 |
16 |
68 |
4 |
0 |
| 44 |
20 |
16 |
69 |
4 |
0 |
| 45 |
20 |
16 |
70 |
2 |
0 |
| 46 |
18 |
12 |
71 |
2 |
0 |
| 47 |
18 |
12 |
72 |
2 |
0 |
| 48 |
18 |
12 |
73+ |
0 |
0 |
| |
| Surrenders/Partial
Withdrawals are allowed from the Top-Up Fund Value after completion of three
years from the date of approval/deposit of each Top-Up Premium. |
| After completion of such period, no Surrender Charges/Partial
Withdrawal Charges are levied. |
| |
| Top-Up Premium
Allocation Charge |
|
| |
| Top-Up premium will be a minimum of Rs.10,000/- and will be
allowed a maximum two times a year. |
| The
Top-Up Premium Allocation Charge is 1.5% of the Top-Up Premium received. |
| |
| |
| Monthly
Policy Administration Charge |
|
| A
Monthly Administration Fee of Rs.. 38/- will be deducted by cancelling Units
at the Unit Price from the Fund Value of the Policy on each Policy Monthly
Anniversary. |
| The administration charges may be increased upto a maximum of
five (5)% p.a. |
| |
|
| Fund
Management Charge |
|
| There
will be a Fund Management Charge charged every valuation date: |
|
| |
|
| Equity
Fund |
Income Fund |
Short Term Fixed
Income |
Aggressive Growth
Fund |
Stable Growth
Fund |
|
| 1.75% |
1.25% |
0.90% |
1.60% |
1.40% |
|
| |
|
| All
Fund Management Charges are subject to revision by company but shall not
exceed 1.75% per annum of the Fund Value. |
| |
| |
| Premium
Redirection Charge |
|
| A Premium Re-direction Charge of Rs. 1,000 is payable on a
change of an existing Premium Allocation except for the first two (2) such
changes in each Policy Year. However, this charge shall not exceed maximum of
Rs.2000. |
| |
| |
| Fund
Switch Charge |
|
| Fund Switch Charge is payable on each switch from one Fund to
another except for the first four (4) such switches in each Policy Year. The
Fund Switch Charge is Rs. 250/- per switch and deducted in Units from the Fund(s) to be
switched into. This charge may be revised by the company, but such increase
shall not exceed a maximum of Rs.500. |
| |
| |
| Premium
Holiday Charge |
|
| After completion of 3 policy anniversaries i.e. after 36 months,
if the premium is not paid, the policy will not lapse immediately and Premium
Holiday will be triggered. Premium Holiday Charge is 3% of the Regular
Premium for the first 5 years, which will be deducted by cancelling Units at
Unit Price from the Fund Value of the policy on each Policy Monthly
Anniversary. If the premium payment is not recommenced within 5 years,
premium holiday will continue after 5 years only after the receipt of the
consent from the policyholder and a charge of 1.5% of the Regular Premium
will be deducted. |
| |
| |
| Mortality
Charge^ |
|
| The
Mortality Charge will be deducted by cancelling Units at Unit Price from the
Fund Value of the Policy on each Policy Monthly Anniversary. The below table
is the Annual Mortality Charge for Rs.1,000 of Sum Assured for a standard
life. |
| |
| |
| Age |
Mortality Charge |
Age |
Mortality Charge |
Age |
Mortality Charge |
|
| 0 |
3.438 |
34 |
1.348 |
68 |
30.598 |
|
| 1 |
3.465 |
35 |
1.435 |
69 |
34.333 |
|
| 2 |
3.493 |
36 |
1.538 |
70 |
38.459 |
|
| 3 |
3.52 |
37 |
1.657 |
71 |
43.008 |
|
| 4 |
2.038 |
38 |
1.793 |
72 |
48.016 |
|
| 5 |
0.542 |
39 |
1.959 |
73 |
53.522 |
|
| 6 |
0.543 |
40 |
2.15 |
74 |
59.566 |
|
| 7 |
0.546 |
41 |
2.333 |
75 |
66.192 |
|
| 8 |
0.556 |
42 |
2.51 |
76 |
73.443 |
|
| 9 |
0.574 |
43 |
2.717 |
77 |
81.367 |
|
| 10 |
0.598 |
44 |
2.971 |
78 |
90.011 |
|
| 11 |
0.629 |
45 |
3.274 |
79 |
99.425 |
|
| 12 |
0.662 |
46 |
3.627 |
80 |
109.662 |
|
| 13 |
0.695 |
47 |
4.03 |
81 |
120.773 |
|
| 14 |
0.742 |
48 |
4.481 |
82 |
132.81 |
|
| 15 |
0.797 |
49 |
4.982 |
83 |
145.072 |
|
| 16 |
0.848 |
50 |
5.532 |
84 |
156.688 |
|
| 17 |
0.896 |
51 |
6.131 |
85 |
168.224 |
|
| 18 |
0.94 |
52 |
6.78 |
86 |
180.394 |
|
| 19 |
0.98 |
53 |
7.478 |
87 |
193.207 |
|
| 20 |
1.016 |
54 |
8.225 |
88 |
206.668 |
|
| 21 |
1.048 |
55 |
9.022 |
89 |
220.778 |
|
| 22 |
1.077 |
56 |
9.864 |
90 |
235.534 |
|
| 23 |
1.102 |
57 |
10.66 |
91 |
250.927 |
|
| 24 |
1.123 |
58 |
11.488 |
92 |
266.946 |
|
| 25 |
1.14 |
59 |
12.512 |
93 |
283.57 |
|
| 26 |
1.153 |
60 |
13.732 |
94 |
300.777 |
|
| 27 |
1.163 |
61 |
15.148 |
95 |
318.536 |
|
| 28 |
1.168 |
62 |
16.758 |
96 |
336.811 |
|
| 29 |
1.17 |
63 |
18.564 |
97 |
355.563 |
|
| 30 |
1.171 |
64 |
20.566 |
98 |
374.744 |
|
| 31 |
1.186 |
65 |
22.17 |
99 |
692.218 |
|
| 32 |
1.224 |
66 |
24.171 |
100 |
1000 |
|
| 33 |
1.277 |
67 |
27.22 |
|
|
|
| |
Service Tax is payable on life insurance premium as per applicable laws. Tata AIG Life Insurance Company Limited reserves
the right to recover from the Policyholder, any levies and duties (including service tax), as imposed by the government,
either by premium adjustment or other forms, as deemed appropriate. Kindly refer to the Sales Illustration for extra premiums rate. |
| Note: The Company has the right to alter the above charges (except
Mortality Charge and Premium Allocation Charge which are guaranteed
throughout the term) by giving advance notice of atleast 3 months to the
policyholder subject to the approval of IRDA and will have prospective
effect. |
|
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