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  • Tata AIA Life Insurance Riders Plans

    Tata Aia Life Insurance

    Financial needs and requirements vary from person to personal and Tata AIA Life Insurance has made available a wide range of products and services to cater to its extensive customer base. To ensure that its customers have the flexibility of increasing their life cover, the company offers three different riders from which customers can choose the one that best suits their requirements.

    Riders are additional benefits that may be opted for by the customer and added to their basic life insurance policy, thereby increasing security and protection. Insurance riders are designed to provide enhanced features so that customers can increase the worth of their insurance policy for a small additional cost. Following are the three riders you can avail for your Tata AIA Life Insurance policy.

    1. Tata AIA Life Insurance Waiver of Premium Plus (Linked) Rider:

      The Waiver of Premium Plus (Linked) Rider from Tata AIA Life Insurance is specially tailored for the base plan’s Proposer (different from the Life Assured). This rider ensures that the insurance benefits are continually granted to the right recipients even if the proposer may not be able to make premium payments in case of unforeseen situations.

      Features and Benefits of Tata AIA Life Insurance Waiver of Premium Plus (Linked) Rider

      • Coverage will continue even if the Proposer cannot make premium payments due to sickness or accident, in which case he / she will be declared permanently and totally disabled.
      • Coverage will continue even in case of the Proposer’s death.
      • Customers can avail this rider for any individual linked products offered Tata AIA Life Insurance.
      • Premiums paid towards this rider can be claimed for tax benefits under Section 80D of the Income Tax Act of India.
      • Waiver of Premium Plus is not a guaranteed Issuance rider and is subject to Tata AIA’s underwriting and acceptance.
      • All future premiums will be waived by the company in case of the Proposer’s death or permanent and total disability.
      • Deduction of Waiver of Premium Plus (Linked) Rider costs will no longer be charged for the remainder of the premium payment term or till the Proposer turns 65 years of age, whichever is earlier.
    2. Tata AIA Life Insurance Waiver of Premium (Linked) Rider:

      Tata AIA Life Insurance Waiver of Premium (Linked) Rider is specially tailored for the base plan’s Life Assured. In this case, the Proposer and the Life Assured must be the same individual. This rider ensured that customers continue to receive insurance benefits even if they can no longer afford to make premium payments due to permanent and total disability.

      Features and Benefits of Tata AIA Life Insurance Waiver of Premium (Linked) Rider

      • The Waiver of Premium (Linked) Rider is a linked unit deducting rider.
      • The rider coverage term will be equivalent to the base plan’s premium-paying term.
      • In case the insured individual cannot afford to make premium payments due to permanent and total disability, all future premiums on the base plan will be waived off by the company.
      • Deduction of Waiver of Premium (Linked) Rider costs will no longer be charged for the remainder of the premium paying term or till the insured individual turns 65 years of age, whichever is earlier.
      • Premium payments made under the Waiver of Premium (Linked) Rider can be claimed as deductions under Section 80D of the Income Tax Act of India.
      • The Waiver of Premium (Linked) Rider is not a guaranteed Issuance rider and is subject to underwriting and acceptance from Tata AIA.
    3. Tata AIA Life Insurance Accidental Death and Dismemberment (Long Scale) (ADDL) Linked Rider

      Tata AIA Life Insurance Accidental Death and Dismemberment (Long Scale) (ADDL) Linked Rider from Tata AIA Life Insurance is an optional unit deducting rider which offers a simple solution for those who wish to ensure that their family remains covered in case of their dismemberment or unfortunate death.

      Features and Benefits of Tata AIA Life Insurance Accidental Death and Dismemberment (Long Scale) ( ADDL) Linked Rider

      • The Accidental Death and Dismemberment (Long Scale) (ADDL) Linked Rider ensures that the policyholder’s family remains protected in case of his / her accidental death.
      • The nominees will receive an amount equivalent to the sum assured in the rider should the policyholder suffer from accidental death.
      • In case the policyholder suffers from severe dismemberment such as the loss of limbs, severe burns owing to accidents, cessation of bodily functions, etc., the company will pay the nominee a certain percentage of the rider sum assured based on the ADDL benefit specifications covered in the brochure.
      • Certain dismemberments or accidental deaths can provide double the number of benefits depending upon the severity of the case and the terms and conditions of the policy.
      • Premium payments made towards this rider can be claimed as tax deductions under Section 80D of the Income Tax Act of India.
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