Such rider attachments will be as per the ‘Board-approved underwriting policy’ (BAUP) of the Company. The riders shall be offered in compliance with the provisions of IRDAI (Protection of
Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulation, 2024
Free Look
If the Master Policyholder/Annuitant is not satised with the terms & conditions/ features of the policy,
s/he has the right to cancel the Policy by providing written notice to the Company and receive a refund of all premiums paid without interest after deducting Stamp duty and Medical examination
costs (including goods and services tax), if any which have been incurred for issuing the Policy. The
proportionate cost of mortality is immaterial and hence ignored for administrative simplicity. In case
any annuity payment has been made before processing of the Free Look cancellation amount, we
shall recover the same from the refund amount due to the Master Policyholder/Annuitant.
Such notice must be signed by the Master Policyholder/Annuitant and received directly by the
The company within 30 days after the Master Policyholder/Annuitant receives the Policy Document.
Whether the policy is sourced electronically or otherwise.
However, the following exceptions apply:
• If the policy is purchased through proceeds from subscribers’ NPS funds, as detailed in
Sub-section “Utilisation of Return of Purchase option for NPS subscribers” (below), the
Proceeds from cancellation in the free-look period shall only be transferred back to the Central
Record Keeping Agency from which the money was received.
• If the policy is purchased as part of a bulk annuity as detailed in sub-section “Bulk Annuity
purchase” (below), the proceeds from cancellation in the free-look period shall only be
transferred back to the source as per applicable scheme rules
• If the policy has been purchased as a QROPS as detailed in sub-section “Utilisation of Return of
Purchase option for QROP subscribers” (below), the proceeds from cancellation shall only be
transferred back to the fund house from where the money was received.
Discounts:
For Single Pay greater than 5 lakhs and RP / LP greater than 1 lakh annual premium, a higher annuity
Rates will be applicable on the incremental premium.
There are policy rebates available on satisfying certain criteria as outlined in the Bulk Annuity purchase
and NPS sections below, which will be provided in the form of increased annuity. The total incremental
annuity shall not exceed 1% of the annuity rate as otherwise applicable, even if the annuitant might
be eligible to avail policy rebates under multiple criteria at the same time.

Bulk Annuity purchase
This plan can be utilised for bulk annuity purchase by a scheme set up to provide regular pension
benefits for its members. Such a purchase will be subject to applicable scheme rules and must comply
with the eligibility conditions as approved for this product.
The company shall offer an additional annuity of 1% of the annuity rate to such bulk annuity purchase.
Company’s Website:
The product is also available for sale through online mode on the Company’s website www.tataaia.com
Utilisation of the Return of Purchase option for NPS subscribers:
In case this annuity option is purchased as a default option by a Government sector NPS subscriber
through funds accumulated in his/her NPS scheme, the utilisation of the Death Benefit shall be as per
Pension Fund Regulatory and Development Authority (Exits and Withdrawals Under the National
Pension System) Regulations, 2015, as amended from time to time.
Annuity can be taken by NPS subscribers, subject to the terms and conditions prescribed by the Pension
Fund Regulatory and Development Authority (PFRDA) as applicable from time to time.
The company shall offer an additional annuity booster of 1% of the annuity rate to such NPS
subscribers whilst purchasing an annuity.
Exclusions
• Suicide Claim Provisions
In case of death due to suicide within 12 months:
• From the date of commencement of risk under the policy or from the date of revival of the policy,
As applicable, the nominee or beneficiary of the policyholder shall be entitled to at least 80% of
The Total Premiums Paid till the date of death or the surrender value available as on the date of
death, whichever is higher, provided the policy is in force; or
• From the date of exercising the Top-Up Option, the nominee or beneficiary of the policyholder
shall be entitled to 80% of the respective Top-Up Premiums paid (excluding any extra premium,
any rider premiums and taxes. The original death benefit (based on the Purchase Price chosen at
the time of purchase) and any increased death benefit purchased by exercising the Top-Up
Option subsequently, but prior to 12 months from the date of death (due to suicide) will remain
payable in full.
• In case of a joint life policy, the above clause is applicable if either of the two lives commits suicide
within 12 months from the commencement of risk under the policy or the exercising of the
Top-Up Option, as applicable.
• This is applicable only for options 3and 4 and during the deferment period. No benefit is payable
on suicide otherwise.
The suicide claim provision is in line with clause 21 of the Master Circular on Life Insurance Products
(IRDAI/ACTL/MSTCIR/MISC/89/6/2024)
• Death – None
Access to benefits/payout if this product is purchased as a QROPS (Qualifying Recognised
Overseas Pension Scheme, through the transfer of UK tax-relieved assets
This plan can be purchased as a QROPS, through the transfer of UK tax-relieved assets, subject to
listing and terms and conditions prescribed by HMRC (Her Majesty Revenue & Customs), such as:
• Minimum age for annuity payment shall be 55 years of age (i.e. under Immediate annuity the
minimum age at entry shall be 55 years, and under a Deferred annuity, the minimum vesting age
shall be 55 years).
• If the policy is cancelled during the Free Look Period, the proceeds from cancellation shall only be
transferred back to the fund house from where the money was received.

• In the event of an applicable tax charge arising as a result of an overseas transfer, HMRC – Policy
paper – The overseas transfer charge – guidance, published 8th March 2017, for which the
Scheme Manager, i.e. TATA AIA Life Insurance Company, may become liable, we shall deduct an
amount only to the extent of the applicable tax charge from the Policy value and remit the same
to HMRC
• Other terms and conditions of HMRC shall also apply as applicable from time to time
Policy Loan:
Loan can be availed any time after six months from the date of commencement of the policy for others
than Plan Option 1. Under the joint life option, the loan can be availed by the primary annuitant and on
death of the primary annuitant, it can be availed by the secondary annuitant.
The maximum amount of loan that can be granted under the policy shall be such that:
• it does not exceed 80% of the surrender value
• the amount of the loan plus interest till the end of the deferment period, if any, would not exceed 90% of the
Total Premiums Paid (excluding loading for modal premiums), assuming no further premiums
payments, if any
• effective annual interest amount payable on loan immediately (in case of Option 2) or post the end
of deferment (in case of Options 3 and 4) does not exceed 50% of the annual annuity amount
payable under the policy, assuming no further premium payments, if any
The loan interest will be recovered from the annuity amount payable under the policy, as part of
survival benefit. The loan interest will accrue as per the frequency of annuity payment under the
policy, and it will be due on the date of annuity. The loan outstanding shall be recovered from the
claim proceeds under the policy. However, the annuitant has the flexibility to repay the loan
principal at any time during the course of the policy.
For in-force and fully paid-up policies, the policy will not be foreclosed if the outstanding loan
The amount, including interest, exceeds the surrender value. However, other than in-force and fully
paid up policies, if the outstanding loan amount, including interest, exceeds the surrender value,
The policy will be foreclosed after giving intimation and a reasonable opportunity to the policyholder
to continue the policy.
Interest rate applicable to policy loan will be equal to the prevailing SBI (State Bank of India)
domestic term deposit interest rate for tenure ‘1 year to less than 2 years’ + 2%. This formula will
be reviewed annually and only altered subject to prior approval of IRDAI. The interest rate on loans
is verified & updated on our company’s systems every six months (on 1st April & 1st Oct every
year) as per the given formula. The current interest rate for a Loan from 1st April 2025 is 8.98% p.a.
(i.e. SBI interest rate of 6.98% + 2%) compounding annually.
There shall be no discretion of the Insurer in granting the policy loan to identical/similar
annuitant(s). Further, there shall be no discretion of the Insurer in the quantum of loan granted
(subject to the quantum being within permissible limits).
Grace Period:
Grace Period is the time provided after the premium due date during which the policy is considered
to be in force with the risk cover. This plan has a grace period of 30 days for yearly, half-yearly and
quarterly frequencies from the premium due date. The grace period for monthly frequency is 15 days
from the premium due date.
Revival Period:
If a premium is in default beyond the Grace Period, and subject to the Policy not having been
surrendered, it may be reinstated/revived, within ve years after the due date of rst unpaid premium
and before the end of deferment period, subject to: (i) Policyholder’s written application for
reinstatement/revival; (ii) production of Insured’s current health certificate and other evidence of
insurability, satisfactory to the Company; and (iii) payment of all overdue premiums with interest.
The evidence of insurability and any medical requirements or health declarations requested at the
The time of reinstatement/revival will be in line with the Board-approved Underwriting Policy

Any reinstatement/revival shall only cover loss or insured event which occurs after the
reinstatement/revival date. The guaranteed additions which had not accrued on account of the policy
being in lapse or reduced paid up status will accrue on the date of revival.
The applicable interest rate for revival is determined using the SBI domestic term deposit rate for ‘1
year to less than 2 years’, plus 2%. The rate of interest on revival with effect from 1st April 2025 is
8.98% simple p.a. (i.e. SBI interest rate of 6.98% + 2%) plus applicable taxes. The interest rate
applicable is reviewed every 6 months and gets updated as per the given formula. Any alteration in
the formula will be subject to prior approval of IRDAI.
Tax Provisions:
The Purchase Price/Premium under the policy is exclusive of applicable taxes, duties, surcharges,
cesses or levies which will be entirely borne/ paid by the Master Policyholder and/or Annuitant, in
In addition to the payment of such Purchase Price/Premium. Tata AIA Life shall have the right to claim,
deduct, adjust and recover the amount of any applicable tax or imposition, levied by any statutory or
administrative body, from the benefits payable under the Policy.
Benefits payable under the policy shall be governed in accordance with the prevailing provisions of
Income Tax Act, 1961.
Existence Certificate:
a) It shall be the responsibility of the Master Policyholder and/or Annuitant to produce the existence
certi cate as per the Company policy at his expense
b) Failing Sub-Section (a) above, the Annuity Instalment due from the next Policy Anniversary may
be withheld till the date of production of the existence certificate. The Company shall not, under any
circumstances, pay any interest for any delay in payment of the Annuity Instalment on account of
non-receipt of the existence certificate by the Company
c) The Company is not obliged to send reminders to the Master Policyholder and/or the Annuitant to
Provide an existence certificate of the Annuitant
Assignment:
Assignment shall be as per Section 38 of the Insurance Act 1938, as amended from time to time.
Nomination:
Nomination allowed as per provisions of Section 39 of the Insurance Act 1938, as amended from time
to time.
Alterations:
No alterations apart from those mentioned below can be made after the annuity has been purchased:
a) Change of premium payment frequency
b) Change of Nomination/ Assignment/ Appointee
c) DOB change/correction
d) Change of Annuity frequency at policy anniversary
Termination of Policy:
This policy will terminate immediately and automatically upon the happening of any of the
following event:
a) On the date of the death of the Annuitant or on the date of the death of the second annuitant in case
of Joint life, as applicable
b) On the date of acceptance of the Free Look request.
c) On the date of payment of the Surrender Benefit of this Policy;
d) On the expiry of the Revival period for a lapsed policy
e) On the date when the loan amount with accrued interest exceeds the Surrender Value.

DISCLAIMER:
a) The brochure is not a contract of annuity. The precise terms and conditions of this plan are
specified in the policy contract available on the Tata AIA Life website.
b) This product brochure should be read along with the Benefit Illustration.
c) This product is underwritten by Tata AIA Life Insurance Company Ltd. This plan is not a
guaranteed issuance plan, and it will be subject to the Company’s underwriting and acceptance.
d) Income Tax benefits would be available as per the prevailing income tax laws, subject to the fulfilment
of conditions stipulated therein. Income Tax laws are subject to change from time to time. Tata
AIA Life Insurance Company Ltd. does not assume responsibility on tax implications mentioned
anywhere in this document. Please consult your own tax consultant to know the tax benefits
available to you.