|
A) Premium Allocation Charge
The
regular premiums will be payable for the entire premium paying period as
desired by you. The net regular premiums after deduction of charges are
invested in funds as per your choice. The charge deducted from the regular
premium received as a percentage of the regular premium varies with the
policy term and the premium band as shown in the table below:
|
Premium Year 1 to 2
|
Policy Term
|
|
Annualised Premium Band (in Rs.)
|
10
|
15-19
|
20-40
|
|
18,000 - 24,999
|
15.0%
|
22%
|
26.0%
|
|
25,000 - 499,999
|
14.0%
|
21%
|
25.0%
|
|
500,000 - 999,999
|
11.0%
|
18%
|
21.0%
|
|
1,000,000+
|
9.0%
|
16%
|
19.0%
|
|
Premium Year 3 to 5
|
All
Policy Terms
|
|
Annualised Premium Band (in Rs.)
|
|
18,000 - 19,99,999
|
3%
|
|
>=20,00,000
|
1.5%
|
|
Premium Year 6+
|
All
Policy Terms
|
|
All premium bands
|
1%
|
Premium Year is determined by the number of
complete 12-months period for which Regular Premium has actually been paid,
excluding any period of Premium Discontinuance
The Annualised Regular
Premium of the Policy is arrived at as below:
|
If monthly
paid
|
Monthly
Regular Premium / 0.0833
|
|
If
quarterly paid
|
Quarterly
Regular Premium / 0.25
|
|
If
semi-annually paid
|
Semi-annual
Regular Premium / 0.5
|
|
If annually
paid
|
Annual
Regular Premium / 1
|
|
|
B) Top-up premium
allocation charge
1.5% of the Top-Up Premium
|
|
C) Fund Management Charge (FMC)
A Fund
Management Charge will be charged for each fund on each valuation date at
1/365 of the following annual rates and will be applied on the total values
of the investment funds as given below
|
Fund
|
Charge per Annum
|
|
Whole
Life Mid Cap Equity Fund
|
1.20%
|
|
Whole
Life Income Fund
|
0.80%
|
|
Whole
Life Short Term Fixed Income Fund
|
0.65%
|
|
Whole
Life Aggressive Growth Fund
|
1.10%
|
|
Whole
Life Stable Growth Fund
|
1.00%
|
|
Large
Cap Equity Fund
|
1.20%
|
|
Super Select Equity Fund
|
1.20%
|
All Fund
Management Charges are subject to revision by Company with prior approval of
the Insurance Regulatory and Development Authority but shall not exceed 1.35%
per annum of the Fund value.
|
|
D) Surrender Charge
Policy can be surrendered any time during the term. However when the
request is received in first three policy years, the surrender value less
applicable surrender charges is kept aside as monetary value by the company
and shall be payable at the end of three policy years.
Surrender charges will be applied as a percentage of Regular Premium
Fund Value as per the scale shown in the table below:
|
Policy Year
|
Charge
as % of Regular Premium Fund Value
|
|
1
|
100%
|
|
2
|
75%
|
|
3
|
50%
|
|
4
|
25%
|
|
5
|
10%
|
|
6+
|
0%
|
There are no surrender charges applicable on the top-up account.
|
|
E) Partial Withdrawal Charge
There are no partial
withdrawal charges under Tata AIG Life InvestAssure
Health Plus.
|
|
F) Policy Administration Charge
A
Monthly Policy Administration as per the
table below will be deducted
|
Annualised Premium Band
|
Rs.18,000 to Rs.48,000
|
More than Rs.48,000 upto Rs.72,000
|
More than Rs.72,000
|
|
All Years*
|
65
|
85
|
100
|
|
Additionally, for Year 1
|
75
|
150
|
150
|
*This administration charges may be increased up to a maximum of 5% p.a. compound
Unit
deduction will first be made from the Regular Premium Fund Value, and if
insufficient, then from the Top-Up Fund Value.
|
|
G) Fund Switching Charge
There are 12(twelve) free switches per policy year. Thereafter a
service charge of Rs.100/- per switch will be applicable.
The fund switching charge may be revised up to maximum of Rs. 250/- per switch as deemed appropriate by the
Company.
|
|
H) Premium Re-direction Charge
There
is no Premium Re-direction Charge.
Subject
to prior approval from IRDA, the Company may alter all the
above charges (except premium allocation charges which are guaranteed
throughout the term) by giving an
advance notice of at least three months to the
policyholder and will have prospective effect. Morbidity charges are
guaranteed for the first three
years and are subject to review thereafter.
|
|
I) Morbidity Charges
The daily hospital benefit charges will be
deducted by way of cancelling the units. Please refer table below for the age
wise morbidity charge for per Rs.1,000 Daily
Hospital Benefit.
|
Age
|
Charges
|
Age
|
Charges
|
Age
|
Charges
|
|
Male
|
Female
|
Male
|
Female
|
Male
|
Female
|
|
5
|
976.96
|
853.2
|
30
|
658.78
|
799.15
|
55
|
1691.61
|
1815.22
|
|
6
|
789.71
|
687.57
|
31
|
673.14
|
814.76
|
56
|
1766.55
|
1878.2
|
|
7
|
701.1
|
624.14
|
32
|
687.17
|
846.74
|
57
|
1839.22
|
1954.78
|
|
8
|
681.05
|
607.85
|
33
|
718.47
|
878.4
|
58
|
1927.21
|
2044.82
|
|
9
|
655.75
|
616.39
|
34
|
731.74
|
911.99
|
59
|
2012.6
|
2137.7
|
|
10
|
610.53
|
575.28
|
35
|
760.48
|
943.02
|
60
|
2102.15
|
2229.79
|
|
11
|
588.08
|
583.16
|
36
|
790.46
|
976.03
|
61
|
2185.16
|
2320.96
|
|
12
|
542.11
|
564.26
|
37
|
802.39
|
1006.31
|
62
|
2303.05
|
2442.51
|
|
13
|
596.32
|
615.23
|
38
|
827.68
|
1019.71
|
63
|
2422.5
|
2589.5
|
|
14
|
566.75
|
604.17
|
39
|
854.13
|
1030.32
|
64
|
2554.26
|
2712.08
|
|
15
|
608.76
|
666.94
|
40
|
879.91
|
1040.56
|
65
|
2693.73
|
2853.76
|
|
16
|
564.57
|
653.6
|
41
|
903.04
|
1069.06
|
|
|
|
|
17
|
584.05
|
691.75
|
42
|
942.54
|
1097.05
|
|
|
|
|
18
|
542.11
|
633.75
|
43
|
961.88
|
1129.63
|
|
|
|
|
19
|
563.55
|
654.27
|
44
|
997.26
|
1159.2
|
|
|
|
|
20
|
513.14
|
590.35
|
45
|
1031.44
|
1190.89
|
|
|
|
|
21
|
533.12
|
608.11
|
46
|
1062.2
|
1235.47
|
|
|
|
|
22
|
548.84
|
622.35
|
47
|
1098.32
|
1287.69
|
|
|
|
|
23
|
558.61
|
653.54
|
48
|
1149.97
|
1342.4
|
|
|
|
|
24
|
567.94
|
665.39
|
49
|
1200.32
|
1396.8
|
|
|
|
|
25
|
576.82
|
678.75
|
50
|
1345.47
|
1517.2
|
|
|
|
|
26
|
586.74
|
706.82
|
51
|
1399.25
|
1575.58
|
|
|
|
|
27
|
597.77
|
721.44
|
52
|
1469.48
|
1636.86
|
|
|
|
|
28
|
613.03
|
735.83
|
53
|
1550.35
|
1694.57
|
|
|
|
|
29
|
628.01
|
768.65
|
54
|
1614.53
|
1755.13
|
|
|
|
The Surgical Benefit Charges will be deducted by
way of cancelling the units. Please refer table below for the age wise
morbidity charge for per Rs.20,000 Surgical Benefit.
|
Age
|
Charges
|
Age
|
Charges
|
Age
|
Charges
|
|
Male
|
Female
|
Male
|
Female
|
Male
|
Female
|
|
5
|
293.93
|
235.14
|
30
|
204.88
|
249.71
|
55
|
378.19
|
390.30
|
|
6
|
239.23
|
191.38
|
31
|
208.06
|
253.50
|
56
|
387.27
|
393.03
|
|
7
|
213.18
|
174.42
|
32
|
211.13
|
262.33
|
57
|
395.41
|
398.97
|
|
8
|
207.86
|
170.06
|
33
|
218.93
|
271.01
|
58
|
405.66
|
407.87
|
|
9
|
200.85
|
172.16
|
34
|
221.70
|
279.53
|
59
|
414.82
|
416.08
|
|
10
|
187.66
|
160.85
|
35
|
229.10
|
287.88
|
60
|
425.79
|
423.61
|
|
11
|
180.88
|
162.79
|
36
|
236.28
|
296.06
|
61
|
429.67
|
427.38
|
|
12
|
167.78
|
159.39
|
37
|
238.53
|
304.07
|
62
|
440.34
|
436.67
|
|
13
|
186.73
|
178.24
|
38
|
245.28
|
306.95
|
63
|
451.85
|
450.96
|
|
14
|
179.54
|
179.54
|
39
|
251.79
|
309.72
|
64
|
463.98
|
460.76
|
|
15
|
195.06
|
203.29
|
40
|
258.03
|
312.37
|
65
|
476.47
|
472.16
|
|
16
|
182.45
|
204.36
|
41
|
260.90
|
315.95
|
|
|
|
|
17
|
189.27
|
218.72
|
42
|
267.72
|
319.21
|
|
|
|
|
18
|
174.25
|
200.89
|
43
|
269.77
|
322.16
|
|
|
|
|
19
|
179.40
|
206.41
|
44
|
275.57
|
324.80
|
|
|
|
|
20
|
161.38
|
185.37
|
45
|
280.84
|
327.13
|
|
|
|
|
21
|
165.70
|
190.05
|
46
|
285.57
|
333.49
|
|
|
|
|
22
|
169.92
|
194.67
|
47
|
289.77
|
339.37
|
|
|
|
|
23
|
174.04
|
204.61
|
48
|
297.16
|
344.79
|
|
|
|
|
24
|
178.06
|
209.07
|
49
|
303.86
|
349.75
|
|
|
|
|
25
|
181.97
|
213.44
|
50
|
333.06
|
370.45
|
|
|
|
|
26
|
185.78
|
223.06
|
51
|
339.42
|
375.28
|
|
|
|
|
27
|
189.48
|
227.25
|
52
|
348.69
|
379.65
|
|
|
|
|
28
|
193.06
|
231.35
|
53
|
360.60
|
383.62
|
|
|
|
|
29
|
196.53
|
240.60
|
54
|
368.15
|
387.16
|
|
|
|
|
