|
||||
|
||||
| SMART | ||||
|
||||
Systematic Money Allocation & Regular
Transfer (SMART) is a systematic transfer plan that allows a customer to
enter the volatile equity market in a structured manner under the Regular
Premium Account. Through SMART, one can initially park the annual
allocable premium along with any existing units in any one fund (chosen out of
the funds of Tata AIG Life InvestAssure Superstar). 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 Superstar, 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 you. 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 SMART should be received 30 days in advance of
the policy anniversary. The request if acceptable by us shall take effect on
the following 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 24 free switches ·
The policyholder will have the
option to stop SMART at any point of time by a written request and it shall
take effect from the next SMART switching that follows our receipt and
approval. ·
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 and when the policy is in the
“Investment Only” Status. ·
Super 110% Capital Guarantee
fund cannot be chosen under SMART ·
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 2 ………………………………………………………………………………………………………………………………………. Policy Month 6
1/ 7 of the units available at the beginning of Policy Month 6 ………………………………………………………………………………………………………………………………………. Policy Month 11
½ 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 written notice of 30 days. | ||||
 |
||||
|
||||
 |
||||
|
||||
