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Administrator — Thu, 19 Jan 2012 05:00:59 +0000

Bajaj Allianz Guaranteed Maturity Plan

Company: Bajaj Allianz Life Insurance Company

Type of policy: Single premium unit-linked Life insurance plan which offers you ‘Guaranteed Maturity Certificates’ of single premium of Rs 5,000 each. The policyholder has the choice to buy any number of these certificates under a single policy.

Age at entry:

Minimum: 8 years last birthday

Maximum: 50 years last birthday

Age at maturity:

Minimum: 18 years last birthday

Maximum: 60 years last birthday

Sum Assured: A multiple of the single premium Guaranteed Maturity Certificate. This is five times the single premium for the first policy year and for subsequent years, will reduce to 1.25 times the single premium for age-at-entry less than 45 years and 1.10 times of the single premium for age-at-entry 45 years and above.

Policy term: 10 years

Premium paying term: Single premium

Benefits:

Death benefit: On death of the policyholder during the policy term, the Sum Assured will be paid to the nominee.

Maturity benefit: This is a pure protection plan and hence there is no maturity benefit payable.

Tax benefit: Tax benefits as per Section 80C of the Income-tax Act 1961 will be applicable.

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Kotak Invest Maxima

Administrator — Thu, 19 Jan 2012 05:00:51 +0000

Company: Kotak Mahindra Old Mutual Life Insurance Company

Type of policy: Unit-linked insurance policy

Age at entry: Minimum: 0 years, maximum: 60 years

Age at maturity: Minimum: 10 years; maximum: 75 years

Policy term: Regular premium: 10, 15, 20, 25 and 30 years. Limited Pay: 10, 15, 20, 25 and 30 years and single premium: 10 years

Premium paying term: Regular Pay: Same as policy term chosen and Limited Pay: Five years

Minimum and maximum premium: Regular Pay: Rs 50,000 /Rs 1 lakh, Limited Pay: Rs 75,000 / Rs 1 lakh and single premium: Rs 1 lakh / Rs 2.5 lakh

Sum Assured (SA):

Single premium: Option I: 5 times single premium or SP, Option II: 1.25 times SP

Regular and limited premium:

Minimum SA:

Age less than 45 years: Higher of (10 x annualised premium or AP) or (0.5 x Policy term x AP)

Age more than or equal to 45 yrs: Higher of (7 x AP) or (0.25 x Policy term x AP)

Maximum SA: 25 x AP

Portfolio Management Strategy Options (PMSO): There are two PMSO options available to the policyholder under this policy.

Self-Managed Portfolio Strategy: This option allows the policyholder to manage his portfolio with the benefit of the five fund options outlined below.

Systematic Switching Strategy: This allows the policyholder to invest all or some part of the investment in Money Market Fund and transfer a pre-defined amount every month into either the Classic Opportunities Fund or the Frontline Equity Fund.

Fund options, objectives and risk-return profile:

Classic Opportunities Fund: Aims to maximise opportunity through long-term capital growth, by holding a significant portion in a diversified and flexible mix of large/medium-sized company equities. 75-100 per cent in equities and 0-25 per cent in debt including money market instruments. Risk-return profile: Aggressive.

Frontline Equity Fund: Aims at a high level of capital growth by holding a significant portion in large-sized company equities. 60-100 per cent in equities and 0-40 per cent in debt including money-market instruments. Risk-return profile: Aggressive.

Balanced Fund: Aims at moderate growth by holding a diversified mix of equities and fixed interest instruments. 3 to 60 per cet in equities and 40 to 70 per cent in debt including money-market instruments. Risk-return profile: Moderate

Dynamic Bond Fund: Aims to preserve capital by investing in high-quality corporate bonds that generate relatively higher fixed returns: 100 per cent in debt, including money-market instruments. Risk-return profile: Conservative.

Money Market Fund: Aims to protect capital and prevent downside risks: 100 per cent in debt, including money-market instruments. Risk-return profile: Secure.

Discontinued Policy Fund: Aims to provide secure returns to policies in the discontinued state, by investing in low-risk debt instruments: 100 per cent in debt, including money-market instruments. Risk-return profile: Secure.

Death Benefit: On death of the policyholder the nominee would get the higher of: Basic SA, 105 per cent of the premium(s) paid up to the time of death and fund value in main account and top-up accounts, including survival units, if any.

Maturity Benefit: Maturity benefit will be the sum of fund value in the main account, including survival units, if any, and fund value in top-up accounts, if any.

Tax Benefit: Premiums are eligible for deduction under Section 80 C of the Income-tax Act 1961 and maturity and death benefits are tax-free under Section 10 (10 D).

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Administrator — Thu, 19 Jan 2012 05:00:49 +0000

Edelweiss Tokio Life Education

Company: Edelweiss Tokio Life Insurance Company

Type of policy: Term insurance plan

Minimum and maximum age at entry of Life Assured: 18 to 60 years (last birthday)

Minimum and maximum age at entry of child: 28 to 70 years (last birthday)

Policy term: 10 to 30 years

Premium payment frequency: Annual

Premium paying term: Single, regular, 5 pay, 10 pay if policy term is above 20 years and 15 pay if policy term is above 25 years

Minimum Sum Insured: Rs 15 lakh

Maximum Sum Insured: No limit (subject to underwriting)

Minimum premium: Rs 20,000 (annual mode) , Rs 10,000 (half-yearly), Rs 5,000 (quarterly) and Rs 2,500 (monthly mode)

Maximum premium: No limit (subject to underwriting)

Policy benefits:

Death benefit: Sum assured will be paid to nominee

Survival benefit: None

Maturity benefit: None

Tax benefits: Premiums are eligible for deduction under Section 80 C of the Income-tax Act 1961 and maturity and death benefits are tax-free under Section 10 (10 D).

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Administrator — Thu, 19 Jan 2012 05:00:46 +0000

Bharti AXA Future Invest

Company: Bharti AXA Life Insurance Company

Type of policy: Unit-linked insurance policy with limited premium paying term

Minimum age at entry: 18 years

Maximum age at entry: 70 years

Maximum age at maturity: 80 years

Policy term: 10 years

Premium payment period: 5 years

Premium paying frequency: Annual, semi-annual, quarterly and monthly. The last two only by ECS.

Minimum premium: Annual Rs 18,000, semi-annual Rs 9,000, quarterly Rs 4,500 and monthly Rs 1,500

Sum Assured:

For age at entry 18 to 44: 10 times the annual premium

For age at entry 45-70: Seven times the annual premium

Fund options, investment objectives and risk-return profile:

Growth Opportunities Plus Fund: To provide long-term capital appreciation by investing in stocks across all market capitalisation ranges (large, mid- or small). Listed equities: 80 to 100 per cent, cash & money market instruments: 0 to 40 per cent. Risk-return profile: High.

Grow Money Plus Fund: To provide long-term capital appreciation by investing across a diversified high-quality equity portfolio. Listed equities: 80 to 100 per cent, cash & money market instruments: 0 to 40 per cent. Risk-return profile: High.

Build India Fund: To provide long-term capital appreciation, through exposure to equity investments in infrastructure and allied sectors, and by diversifying investments across various sub-sectors of the infrastructure sector. Listed equities: 80 to 100 per cent, corporate bonds and bank deposits: 0 to 20 per cent, cash & money market instruments: 0 to 20 per cent. Risk-return profile: High.

Save’n Grow Money Fund: To provide steady accumulation of income in medium to long term by investing in high-quality debt papers and government securities and a limited opportunity of capital appreciation. This would be more of a defensively managed fund. Listed equities: 0 to 60 per cent, corporate bonds and bank deposits: 0 to 50 per cent, government bonds and securities: 0 to 40 per cent, cash & money market instruments: 0 to 40 per cent. Risk-return profile: Moderate

Steady Money Fund: To provide steady accumulation of income in medium to long term by investing in high-quality debt papers and government securities. Corporate bonds and bank deposits: 20 to 80 per cent, government bonds and securities: 20 to 80 per cent, cash & money market instruments: 0 to 40 per cent. Risk-return profile: Low.

Safe Money Fund: To provide capital protection through investment in low-risk money-market & short-term debt instruments with maturity of one year or less. Corporate bonds and bank deposits: 0 to 60 per cent, government bonds and securities: 0 to 60 per cent, cash & money market instruments 0 to 40 per cent. Risk-return profile: Low.

Benefits:

Death benefit:

Option A: Higher of sum assured (net of partial withdrawals, made within 12 months prior to death of the life insured) OR the policy fund value at that point in time is payable.

Option B: Sum assured + Fund value

In-built Accidental Death Benefit: In case of death by accident, the nominee receives an additional sum assured equal to the base SA (only available for Life Insurance Benefit Option B).

Maturity benefit: The fund value as on the maturity date will be payable.

Tax benefits: Eligible for tax benefits under Sections 80C and 10 (10D) of the Income-tax Act 1961.

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Administrator — Thu, 19 Jan 2012 05:00:04 +0000

Tata AIG Welsurance Executive

Company: Tata AIG General Insurance Company

Type of policy: Critical illness policy for executives, including lumpsum benefit for hospitalisation and convalescence.

Minimum age at entry: 18 years

Maximum age at entry: 65 years

Policy term: Annual policy renewable for life

Premium: Rs 2,300 for Classic plan for age group 18 to 24 up to Rs 45,845 for Elite plan for age group 60 to 65

Benefit structures: Classic, Supreme and Elite plans available to suit various needs.

Benefits:

Daily Hospitalisation Cash Benefit (DHCB): Fixed amount of money for each day spent in the hospital, ranging from Rs 2,000 to Rs 4,000 a day. Annual limit 90 days a year

Intensive Care Unit Benefit (ICUB): In case the insured is admitted to ICU, the daily benefit is Rs 3,000 to Rs 6,000 a day. Annual limit 15 days a year

Critical Illness Benefit: A fixed lumpsum is payable on the diagnosis of any one of the nine covered critical Illnesses. An insured can avail of benefit for a critical illness only once in his lifetime and coverage continues for the balance Critical Illnesses. A waiting period of 90 days from policy inception and survival period of 30 days from date of diagnosis is applicable.

Convalescence Benefit: Payable as a lumpsum for recovery at home, immediately on hospital discharge and after five nights of continuous hospitalisation.

Additional benefits: Nursing expense, physician’s visit, investigations – MRI, CT scan, lab tests,X-rays, ECG – anesthetist’s fees, physiotherapy and ambulance charges.

Major surgeries: Angioplasty, heart valve replacement, major organ transplant, coronary artery bypass, grafting, brain surgery, bone marrow transplant, traumatic knee replacement, traumatic septic arthritis, Severe irreparable knee injury, traumatic knee ligament injury and pacemaker implant. Flat sum benefits ranging from Rs 75,000 to Rs 2 lakh under various plans for different surgeries. Hip replacement due to traumatic hip injury – both partial and total, post-traumatic surgery, skull fracture, traumatic pelvis/hip fracture, traumatic amputation of upper or lower limb, traumatic compound communicated fracture where ORIF is required, spinal surgeries (traumatic spinal injuries) and Enucleation, malignant tumour of/severe trauma to eye ball, Odentogenic cyst. Flat sum benefits ranging from Rs 40,000 to Rs 1.5 lakh under various plans for different surgeries.

Minor surgeries: Appendectomy, removal of kidney stones, haemorrhoids, cholecystomy, removal of gall stone, hernia repair and biopsy of growth. Flat sum benefits ranging from Rs 10,000 to Rs 20,000 under various plans for different surgeries.

Tax benefits: Premiums paid under the policy are eligible for tax benefits under Section 80 D of the Income-tax Act 1961.

Other features: Convalescence benefit for post-hospitalisation treatment and ambulance charges for admission.

Other benefits: Free health helpline, health and wellness offers of discounts at select gyms, spas, skincare and weight management centres, Wellsurance Health Perks like discounts on selected health check-up packages at the insurance company’s wide range of network hospitals.

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Bharti AXA Power Kid Insurance Plan

Administrator — Tue, 20 Dec 2011 05:00:27 +0000

Bharti AXA Life Insurance Company

Company: Bharti AXA Life Insurance Company

Type of policy: “A regular premium, unit-linked insurance policy (ULIP) for funding children’s education with the option of an education allowance, career development allowance, premium waiver benefit in case of death of the life insured, additional accidental death benefit, loyalty bonus and settlement option.

Minimum age at entry: 21 years

Maximum age at entry: 50 years

Maximum age at maturity: 65 years for 15-year policy term and 70 years for 20-year policy term

Policy term: 15 and 20 years

Premium payment options: Regular Premium, equal to the policy term

Premium payment frequency: Annual, semi-annual, quarterly and monthly (only through ECS)

Minimum annual premium: Rs 26,000

Sum assured:

For age at entry 21 to 34: 25 x annual premium

For age at entry 35 to 50: 20 x annual premium

Grow Money Plus Fund: To provide long-term capital appreciation by investing across a diversified high-quality equity portfolio. Listed equities: 80 to 100%, cash & money market instruments: 0 to 40%. Risk-Return Profile: High.

Build India Fund: To provide long-term capital appreciation, through exposure to equity investments in infrastructure and allied sectors, and by diversifying investments across various sub-sectors of the infrastructure sector. Listed equities: 80 to 100%, corporate bonds and bank deposits: 0 to 20%, cash & money market instruments: 0 to 20%.Risk-Return Profile: High.

Save ’n Grow Money Fund: To provide steady accumulation of income in medium to long-term by investing in high quality debt papers and government securities and a limited opportunity of capital appreciation. This would be more of a defensively managed fund. Listed equities: 0 to 60%, corporate bonds and bank deposits: 0 to 50%, Government bonds and securities: 0 to 40%, cash & money market instruments: 0 to 40%. Risk-Return Profile: Moderate

Steady Money Fund: To provide steady accumulation of income in medium to long-term by investing in high-quality debt papers and government securities. Corporate bonds and bank deposits: 20 to 80%, government bonds and securities: 20 to 80%, cash & money market instruments: 0 to 40%. Risk-Return Profile: Low.

Safe Money Fund: To provide capital protection through investment in low-risk money-market & short-term debt instruments with maturity of one year or less. Corporate bonds and bank deposits: 0 to 60%, government bonds and securities: 0 to 60%, cash & money market instruments 0 to 40%. Risk-Return Profile: Low.

Benefits:

Death Benefit: Emergency allowance to address immediate liquidity needs, an amount equal to annualised regular premium payable till maturity funded by the company, education allowance (if Death Option A is chosen), career development allowance and fund value along with loyalty bonus.

Emergency Allowance: To address immediate liquidity needs, Rs 1 lakh will be paid within 48 hours of the submission of all the relevant claim documents, provided the policy is in force and the premiums for two consecutive policy years have been paid. Subsequently, if the claim is settled, the balance sum assured (after adjusting the emergency allowance) will be paid out.

Career Development Allowance: To support the development of the beneficiary child’s career, 15 per cent of the residual fund value will be paid out at the beginning of each of the last five years and will be considered as a normal partial withdrawal with all the relevant rules being applicable. If the fund value after career development allowance falls below 120 per cent of annual premium, the facility will not be allowed after that. This is an inbuilt feature of the product and not an option to be exercised by the beneficiary.

Accidental Death Benefit: If the Life Insured dies in an accident, an additional benefit equal to the base sum assured will be paid along with the death benefit. The total accidental death benefit across all policies issued by Bharti AXA. Life Insurance cannot exceed Rs 10 lakh.

Loyalty Bonus: For in-force policies, 1 per cent of the average fund value of the preceding 36 months will be added to the policy fund value, at the end of the 10th policy year and subsequently after every five policy years.

Maturity Benefit: The policy fund value is paid out on maturity.

Tax Benefits: Eligible for tax benefits under Sections 80C and 10 (10D) of the Income-tax Act, 1961.

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Edelweiss Tokio Life – Education

Administrator — Tue, 20 Dec 2011 05:00:15 +0000

Edelweiss Tokio Life Insurance Company

Company: Edelweiss Tokio Life Insurance Company

Type of policy: A non-participating, guaranteed endowment plan.

Minimum and maximum age at entry of Life Assured: 21 to 65 years (last birthday)

Minimum and maximum age at entry of child: 0 to 17 years (last birthday)

Maximum age at maturity of Life Assured: 75 years (last birthday)

Maximum age at maturity of child: 30 years (last birthday)

Policy term: 10 to 25 years

Premium payment frequency: Annual, half yearly, quarterly and monthly (monthly only through ECS, SSS or standing instructions)

Premium paying term: Five, 7, 10 and 15 pay and regular premium (for policy term 15 years or less)

Minimum sum insured: Rs 2.5 lakh

Maximum sum insured: No limit (subject to underwriting)

Minimum premium: Rs 20,000 (annual mode), Rs 10,000 (half-yearly mode), Rs 5,000 (quarterly mode) and Rs 2,500 (monthly mode)

Maximum premium: No limit (subject to underwriting)

Policy Benefits:

Death benefit:

On death of policyholder: A lumpsum equal to sum assured is paid immediately, 1 per cent of sum assured is payable every month till maturity from the date of death and all future premiums are paid by the company so that the maturity benefit is protected. On death of the beneficiary child before the death of the Life Assured but during the policy term: All premiums paid less the first year premiums less extra premium for substandard lives if any and service tax paid.

On death of the beneficiary child before the death of the Life Assured and after the premium paying term: Total premiums paid less extra premium for substandard lives (if any) less service tax multiplied by [1+ (completed policy year-premium paying term) x 5%]. The policy can be continued if the proposer wishes so. If the beneficiary child dies after the death of the Life Assured, an amount equal to discounted value (which is equivalent to all future benefits paid as a lump sum) of monthly benefit amounts of one per cent of sum assured for the remaining month till the end of the policy term plus the discounted value of maturity benefit as per Marriage Funding Plan will be paid (irrespective of the maturity benefit plan opted for). The discounting rate used will be 0.75 per cent per month.

Maturity Benefit: There are five types of maturity benefit plans for funding the education and marriage needs of the beneficiary child. All benefits are guaranteed and payable in two parts. The first part is fixed benefit payable in different instalments of predefined percentages of the sum assured chosen. Maturity benefit plan opted for at the inception of the policy can be changed as per changing needs any time during the policy except the last year before maturity.

The second part of maturity benefit is an additional guaranteed payout to be paid along with any of the chosen fixed benefits plan. The policyholder can avail of this at a time of his choosing by withdrawing it in any year during the payout period. The benefit is 25 per cent of sum assured for 10 to 14 years policy term, 40 per cent for policy term 15 to 19 years and 50 per cent for policy term 20 to 25 years.

Graduation Plan: 28 per cent in year one, 25 per cent in year two, 25 per cent in year three and 28 per cent in year four.

Post-graduation Plan: 51 per cent in year one and 51 per cent in year two.

Doctor Plan/Integrated 5-year degree Plan: 20 per cent in year one, 20 per cent in year two, 20 per cent in year three, 25 per cent in year four and 25 per cent in year five.

Dual degree plan: 16 per cent in year one, 16 per cent in year two, 16 per cent in year three, 16 per cent in year four, 24 per cent in year five and 24 per cent in year six.

Marriage funding plan: 100 per cent

Rider Benefits:

Waiver of Premium Rider: This rider protects benefits in case of critical illness or accidental total and permanent disability by waiving all premiums and pays it on the policyholder’s behalf. The policyholder continues to enjoy the plan benefits and realise his future financial goals, as per his or her original plans.

Accidental Death Benefit Rider: This rider provides for additional financial security in the event of accidental death. The company pays 100 per cent of the rider sum assured as a lump sum in the event of accidental death.

Accidental Total and Permanent Disability Rider: This rider helps provide for a support system and live with financial independence in the event of an accident resulting in total and permanent disability. The company pays 100 per cent of the rider sum assured as a lump sum If the Life Assured gets totally and permanently disabled due to an accident.

Term Rider: This is a special rider to enhance Life cover in addition to the base plan cover to provide increased security to his family. The company pays 100 per cent of the rider sum assured as a lump sum if the Life Assured dies.

Critical Illness Rider: This rider provides for financial security in case of critical illness as the company pays 100 per cent of the rider sum assured as a lump sum in the event of critical illness of the policyholder.

Hospital Cash Benefit Rider: This rider provides for financial stability coverage in case of hospitalisation of policyholder. The benefits to policy holder are: Daily recuperation benefit of 1 per cent of the sum assured, additional benefit of 1 per cent of sum assured for each day of stay in ICU, recuperating benefit of 4 per cent of sum assured as lump sum in case of extended hospitalisation.

Tax Benefits: Premiums are eligible for deduction under Section 80 C of the Income-tax Act 1961 and maturity and death benefits are tax-free under Section 10 (10 D).

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IndiaFirst Money Balance Plan

Administrator — Wed, 16 Nov 2011 05:00:39 +0000

IndiaFirst Life Insurance Company

Company: IndiaFirst Life Insurance Company

Type of policy: Unit-Linked Insurance Plan which preserves earnings from equity fund by automatically transferring it to a relatively safe debt fund on an automatic trigger.

Minimum and maximum age at entry: 18 to 50 years

Maximum age at maturity: 65 years

Policy term: 10, 15, 20 and 25 years

Premium payment options: Regular Premium, Limited Premium and Single Premium

Premium paying term:

Regular Premium: 10, 15, 20 and 25 years

Limited Premium: 7 years

Single Premium: One-time payment only

Minimum age at entry: 5 years as on last birthday

Maximum age at entry: 65 years as on last birthday

Maximum age at maturity: 75 years as on last birthday

Minimum premium:

Regular Premium: Rs 6,000 for half-yearly payment and Rs 12,000 for annual payment

Limited Premium: Rs 7,500 for half-yearly payment and Rs 15,000 for annual payment

Single Premium: Rs 45,000

Minimum Sum Assured:

Regular and Limited Premium:

Age under 45 years at entry: (105 per cent x Premium Paying Term x Annualised Premium) or (10x annualised premium) or (0.5 x Plan Term x Annualised Premium)] whichever is higher.

Age 45 years and above at entry: [(105 per cent x Premium Paying Term x Annualised Premium) or (7 x Annualised Premium) or (0.25 x Plan Term x Annualised Premium)] whichever is higher.

Single Premium:

Age under 45 years at entry: 125 per cent of single premium

Age 45 years and above at entry: 110 per cent of single premium

Maximum Sum Assured: The maximum sum assured is set at ‘X’ times the annualised/ single premium for Regular, Limited and Single plans. Here ‘X’ will range from 40 to 11 for Regular Premium policies, 25 to 11 for Limited Premium policies and 5 to 1.1 for Single Premium policies.

Fund options, investment objectives and risk-reward profile:

Equity Fund: Aims at high real rate of return in the long term by investing more in equity investments. There is a high probability, though, of negative returns, particularly in the short term. 80 to 100 per cent in equity, 0 per cent in debt and 0 to 20 per cent in money market. Risk profile: High

Debt Fund: Aims at investment returns that exceed the rate of inflation in the long term.

There is a low probability of negative returns in the short term. 0 per cent in equity, 70 to 100 per cent in debt and 0 to 30 per cent in money markets. Risk profile: Moderate

Death Benefit: On death of the life assured during the plan period, the nominee will receive a lump sum amount of the fund value or sum assured, whichever is higher.

Maturity Benefit: On maturity the policyholder can choose to receive the entire fund value as a lump sum payment or to postpone/reschedule his maturity payment through the ‘Settlement Option’.

Tax Benefits: Eligible for tax benefits under Sections 80C and 10 (10D) of the Income-tax Act 1961.

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IDBI Federal Lifesurance Savings Insurance Plan

Administrator — Wed, 16 Nov 2011 05:00:19 +0000

IDBI Federal Life Insurance Company

Company: IDBI Federal Life Insurance Company

Type of policy: A fixed term participating endowment policy

Minimum age at entry: 18 years (last birthday)

Maximum age at entry: 65 years (last birthday)

Age at maturity: 75 years (last birthday)

Policy term: 10, 15, 20 or 25 years

Premium payment frequency: Annual, half yearly, quarterly and monthly

Premium paying term: Five years to full policy term for policy terms of 15, 20 and 25 years and six years to full policy term for policy term of 10 years.

Minimum sum insured: Depends on age, premium payment and policy term

Maximum sum insured: No limit (subject to underwriting)

Minimum premium: Rs 20,000 (annual mode), Rs 10,000 (half-yearly mode), Rs 5,000 (quarterly mode) and Rs 2,500 (monthly mode)

Maximum premium: No limit (subject to underwriting)

Special premium discount: Additional premium discount for women insured. The basic premium payable will be equivalent to the premium for a corresponding three-year younger male policyholder.

Policy benefits:

Guaranteed additions: The plan comes with guaranteed additions at the rate of Rs 50 per Rs 1,000 sum insured for each full annual premium that is due and paid during the first 5 years of the policy. In the case of premiums paid more frequently than annually, the guaranteed additions will be added on a pro-rata basis. On the maturity of the policy, the company will pay the policyholder the sum insured along with the vested guaranteed additions, vested reversionary bonuses and terminal bonus, if any, in a lump sum.

Bonuses: After the fifth policy year, your Lifesurance policy will participate in any profits of our participating policyholder’s Life fund by way of reversionary bonuses and possibly terminal bonus. The amount of any profits, and hence of any bonuses, will depend on the future experience and performance of the fund. The bonuses will be declared by the Board of the company each year, and once added they will form part of the guaranteed benefits of the policy. The company may declare an interim bonus in the event of a claim before the next bonus declaration. It may also declare a terminal bonus to be paid on maturity or death provided all the due premiums have been paid.

Death benefit: On death of the policyholder the nominee will be paid the sum insured, vested guaranteed additions, vested reversionary bonuses, interim bonus (if any) and terminal bonus (if any).

Maturity benefit: On the policyholder surviving to maturity of the policy, the sum insured along with the vested guaranteed additions, vested reversionary bonuses and terminal bonus, if any, will be paid in a lump sum.

Tax Benefits: Premiums are eligible for deduction under Section 80 C of the Income-tax Act 1961 and maturity and death benefits are tax-free under Section 10 (10 D) of the Act.

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Tata AIG Welsurance Woman

Administrator — Wed, 16 Nov 2011 05:00:04 +0000

Tata AIG General Insurance Company

Company: Tata AIG General Insurance Company

Type of policy: Critical illness policy for women with hospitalisation benefit and daily cash benefit

Minimum age at entry: 18 years

Maximum age at entry: 65 years

Policy term: Annual policy renewable for life

Premium: Rs 2,489 for Classic plan for age group 18 to 24 and up to Rs 51,319 for Elite plan for age group 60 to 65

Benefit structures: Classic, Supreme and Elite plans available to suit various needs.

Benefits:

Daily Hospitalisation Cash Benefit (DHCB): Fixed amount of money for each day spent in the hospital, ranging from Rs 2,000 a day to Rs 4,000. Annual limit 60 days a year

Intensive Care Unit Benefit (ICUB): In case the insured is admitted to the ICU the daily benefit is Rs 2,000 to Rs 6,000 a day. Annual limit 15 days a year

Critical illness benefit: The plan covers the following critical illnesses: cancer, first heart attack, stroke, kidney failure, coma, coronary artery bypass, grafting (CABG), major organ transplant, total blindness, paralysis, multiple sclerosis and major burns. A flat sum benefit of Rs 3 lakh, Rs 5 lakh or Rs 7.5 lakh is paid for a diagnosis of cancer and a flat sum benefit of Rs 1.5 lakh, Rs 2.5 lakh and Rs 3.75 lakh for other critical illnesses on the list.

Cosmetic reconstructive surgery benefit: Only if necessitated by accident. Rs 5 lakh, Rs 10 lakh and Rs 20 lakh under Classic, Supreme and Elite respectively.

Tax benefits: Premiums paid under the policy are eligible for tax benefits under Section 80 D of the Income-tax Act 1961.

Other features: Convalescence benefit for post-hospitalisation treatment and ambulance charges for admission.

Other benefits: Free health helpline, health and wellness offers of discounts at select gyms, spas, skincare & weight management centers, Wellsurance health perks like discounts on selected health check-up packages at the insurance company’s wide range of network hospitals.

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