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SMART |
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Manage your money with Systematic Money Allocation & Regular
Transfer Investment (SMART) |
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Through SMART, one
can initially park their Annual Allocable Premium along with any existing
units in any one fund (chosen out of the Funds of Tata
AIG Life InvestAssure
Sampatti). This fund is called the Accumulation
Fund. Thereafter a defined portion out of the Accumulation Fund will get
transferred to another fund (chosen out of the funds of Tata
AIG Life InvestAssure
Sampatti other than the accumulation fund) on a
monthly basis. This Fund is called the Target Fund. Thus, while the Stock
Market remains volatile and unpredictable, SMART Investment offers a
systematic way of rupee cost averaging. However, all investments through this
option are still subject to investment risks, which shall continue to be
borne by the Policyholder. The following are the
notable features of SMART: ·
SMART can be availed at the option of the policy
holder, exercisable at policy inception or on any policy anniversary. Request
to start the SMART should be received 30 days in advance of the policy
anniversary ·
SMART option is available only to the policies
with the Annual Mode of payment ·
The automatic fund switches in the SMART option
is available out of the 12 free switches ·
The Policyholder will have the option to stop the
SMART at any point of time. ·
Manual
fund switching for the funds (Accumulation and Target) on which SMART is
active is not allowed. Manual fund switching is however allowed on other
available funds. For Top up premiums, manual switching option will be
available at applicable charges. Conditions regarding switch fee, minimum
switch and minimum fund after switch etc. for normal switching option shall
be as applicable during the SMART ·
Any amount remaining in regular premium funds,
other than the Accumulation Fund and the Target Fund, would remain in those
funds and continue to grow ·
SMART Option will not be available during Premium
discontinuance ·
A portion of total units available in the
Accumulation Fund shall be switched automatically into the Target Fund in
the following way: A portion of total
units available in the Accumulation Fund shall be switched automatically
into the Target Fund in the following way: Monthly SMART: Policy Month 1 1/12
of the units available at the beginning of Policy Month 1 Policy Month 2 1/11
of the units available at the beginning of Policy Month Policy Month 6 1/7
of the units available at the beginning of Policy Month Policy Month 11 1/2
of the units available at the beginning of Policy Month 11 Policy Month 12 Balance units available at the
beginning of Policy Month 12 Tata AIG Life reserves
the right to refuse request for SMART, or to cease offering SMART by giving
30 days of written notice. |
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