IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT

PORTFOLIO IS BORNE BY THE POLICYHOLDER. LINKED

INSURANCE PRODUCTS DO NOT OFFER ANY LIQUIDITY
DURING THE FIRST FIVE YEARS OF THE CONTRACT. THE
POLICYHOLDER WILL NOT BE ABLE TO SURRENDER/
WITHDRAW THE MONIES INVESTED IN LINKED INSURANCE
PRODUCTS COMPLETELY OR PARTIALLY TILL THE END OF
THE FIFTH YEAR.

Smart Pension Secure

Non Participating, Unit Linked, Individual Life Insurance Pension Plan

About Tata AIA Life

Tata AIA Life Insurance Company Limited (Tata AIA Life) is a joint venture
company, formed by Tata Sons and AIA Group Limited (AIA). Tata AIA Life
combines Tata’s pre-eminent leadership position in India and AIA’s
presence as the largest, independent listed pan-Asia life insurance group in
the world spanning 18 markets in Asia Pacific. Tata Sons holds a majority
stake (51per cent) in the company and AIA holds (49 per cent) through an
AIA International Limited. Tata AIA Life Insurance Company Limited was
licensed to operate in India on February 12, 2001 and started operations on
April 1, 2001.

Tata AIA Life Insurance Company Limited (IRDAI Regn. No.110)

CIN: U66010MH2000PLC128403. Registered & Corporate Office:
14th Floor, Tower A, Peninsula Business Park, Senapati Bapat Marg, Lower Parel,
Mumbai - 400013. Trade logo displayed above belongs to Tata Sons Ltd and AIA
Group Ltd. and is used by Tata AIA Life Insurance Company Ltd under a license. For
any information including cancellation, claims and complaints, please contact our
Insurance Advisor / Intermediary or visit Tata AIA Life’s nearest branch office or call
1-860-266-9966 (local charges apply) or write to us at
customercare@tataaia.com. Visit us at: www.tataaia.com.
Unique Reference Number: L&C/Advt/2025/Apr/1694 • UIN: 110L182V03
Tata AIA Smart Pension Secure However, in case of death of the life assured during term of the
policy, the death benefit as defined in the ‘Death Benefit’
Non-Participating, Unit Linked, Individual Life Insurance
section shall be payable and thereafter the policy closes.
Pension Plan
2. Smart Pension Secure Plus
“Secure Your Retirement with Tata AIA Smart Pension
This plan ensures that the future you envisioned for your loved
Secure”
ones is fulfilled even in your absence. In case of any
Everyone dreams of enjoying the fruits of lifetime of hard work unfortunate event, the death benefit is paid to the nominee,
after retirement. However, retirement isn’t something that future premiums (if applicable) are funded by Tata AIA Life
happens by chance, it is something you create. It is more than Insurance and the policy continues till vesting.
just saving; it is about making sure that your financial future can
support the life you want to live. A strategically crafted Boundary conditions
retirement plan can ensure that your future is secured, and you Entry Age (Age last Birthday)
are not just ready for retirement but fully equipped to enjoy it on Minimum Entry Age: 21
your own terms. Maximum Entry Age:
Introducing Tata AIA Smart Pension Secure, a Option 1 – Smart Option 2 – Smart
Non-Participating, Unit Linked Individual Life Insurance Pension Secure Pension Secure Plus
Pension plan. Single Pay 75 Years NA
Tata AIA Smart Pension Secure is a financial planning solution Limited Pay 70 Years 70 Years
designed to provide systematic wealth accumulation for you Regular Pay 65 Years 65 Years
and your family. It helps build a corpus for your retirement.
Vesting Age (Age last Birthday)
Additionally, in the event of any insured unforeseen
circumstance, it offers extra benefits to safeguard your family Minimum Vesting Age: 45 Years
from financial difficulties in your absence. This plan not only Maximum Vesting Age: Single Pay/Limited Pay – 85 Years;
helps to grow your wealth, but also stands as a pillar of Regular Pay – 75 Years
financial security for your family, fortifying their future against Minimum Policy Term
uncertainties.
10 years subject to minimum vesting age of 45 years
Key features: Maximum Policy Term
• Flexibility to choose from 2 Plan Options: Smart Pension Single Pay/Limited Pay – Attained age 85 – Age at Entry
Secure and Smart Pension Secure Plus Regular Pay – Attained age 75 – Age at Entry
• Provide yourself and your family financial protection with
Premium Paying Term
market-linked returns
Minimum: Single Pay; Limited Pay – 5 Years;
• Boost your fund with Zero Premium Allocation charges
Regular Pay – 10 Years
• Loyalty Additions and maturity boosters to enhance your
retirement corpus Maximum:
Option 1 – Smart Option 2 – Smart
• Multiple funds and investment strategies to choose from Pension Secure Pension Secure Plus
• Option to choose premium payment term from Single, Single Pay Single Pay NA
Limited and Regular pay
Limited Pay Attained age 75 - Attained age 75 -
• Partial withdrawal option to meet your financial needs Age at Entry Age at Entry
• Flexibility to postpone vesting date to suit your Regular Pay 54 Years 54 Years
requirements
Minimum Premium
• Tax Benefits as per applicable tax laws
Plan Options Single Limited/
Plan Options: Premium Regular Premium
1. Smart Pension Secure Smart Pension Secure ₹ 10,000 p.a ₹ 10,000 p.a
Smart Pension Secure Plus - ₹ 10,000 p.a.
Provides you with an opportunity to invest your entire premium
with zero premium allocation charge and earn market linked Single Pay option is not available with Smart Pension Secure
returns with a flexibility for unlimited fund switches to get the Plus option.
most out of your investment. Vesting benefit shall be payable
as per the options given in the section ‘Options to avail Vesting Maximum Premium
Benefit’, provided all due premiums have been paid. No limit, as per BAUP
1 2
Minimum Sum Assured (SA) Death Benefit
10,000 Option 1- Smart Pension Secure:
Maximum Sum Assured In case of death of the insured during the policy term and while
NA the policy is in force, the nominee shall get,
Top up Premium Highest of,
Minimum: R 1000 (i) The Regular/Single Premium Fund Value of this Policy
or
Maximum: No limit, as per BAUP
(ii) 105 percent of the Total Regular/Single Premiums
Top up Sum Assured received up to the date of death Less partial
105% of Top-Up Prem withdrawals made during the two-year period
Premium Payment Mode immediately preceding the death of the life assured
Single Pay/Yearly/ Half-yearly/Quarterly/Monthly In addition to this:
Highest of
Benefits available under this plan
(i) Top-Up Premium Fund Value of this Policy or
Vesting Benefit
(ii) 105 percent of the total Top-up premium paid up to the
Fund Value, including Top-Up Premium Fund Value, if any, date of death.
valued at applicable NAV as on the date of Vesting
is also payable provided the Policyholder has a Top-Up
Vesting benefit shall be payable to: Premium Fund Value. The policy shall terminate on the death of
Option1 – Smart Pension Secure: Life Insured.
a) If the life inured is alive on Vesting Date, Vesting Benefit Option 2- Smart Pension Secure Plus
shall be payable a) Where only WoP on Death is chosen:
Option 2 – Smart Pension Secure Plus: In case of death of the life insured during the policy
a) The nominee (in case where life insured has died before term while the policy is in force, the nominee shall get a
maturity) or lumpsum benefit (as described below) immediately on
b) The policyholder (in case the life insured is alive as on death and the policy shall continue till the end of the
maturity date) policy term. Additionally, the Company shall fund all
Options to avail Vesting Benefit future due premiums after the date of death of the
Life Insured.
The policyholder will have the following options:
i) To utilize the entire vesting benefit to purchase immediate On each future premium due date(s), an amount equal
annuity or deferred annuity from the Company at the then to the instalment premium shall be credited to the
prevailing annuity rate or to commute up to 60% and utilize policyholder account by the Company in the same
the balance amount to purchase immediate annuity or proportion as the value of the total units held in each
deferred annuity from the Company at the then prevailing fund at the time of allocation.
annuity rate. The lumpsum benefit shall be 105 percent of the total
ii) To purchase immediate annuity or deferred annuity from Regular/Single Premiums received up to the date
another insurer at the then prevailing annuity rate to the of death
extent of percentage, as stipulated by the Authority,
currently 50%, of the entire proceeds of the policy net of In addition to this:
commutation 105 percent of the total Top-up premium paid up to the
In case the amount available to purchase immediate annuity is date of death is also payable provided the Policyholder
insufficient to purchase minimum annuity as allowed by IRDAI has a Top-Up Premium Fund Value.
regulations, as amended from time to time, such amount will The following conditions shall apply on death of Life Insured:
be paid to the policyholder in lumpsum.
• The Fund Value including Top up Fund Value, if any, will
Postponement of Vesting: remain invested in the respective funds and portfolio
On the date of vesting, in addition to the above, the strategies as on date of death of the Life Insured.
policyholder shall have an option to extend the accumulation
• Only the Fund Management Charge and Policy
period or deferment period within the same policy with the
Administration Charge will be levied. Life Insurance
same terms and conditions as the original policy, provided the
Cover will not apply and mortality charges will not be
policyholder is below an age of 60 years at the time of
deducted.
exercising this option.
3 4
• The nominee will be allowed to make Partial Options to avail Death Benefit
Withdrawals during the Policy Term and Surrender only In case of death of the insured during policy term, the nominee
after completion of the PPT. The nominee will also be shall exercise one of the following options:
allowed for performing fund switches. No other policy i) To utilize the entire proceeds of the policy or part thereof for
alterations will be allowed i.e the nominee will not be purchasing an immediate annuity or deferred annuity from
eligible for redirection of premium, effecting a change in the Company at the then prevailing rate. However, the
portfolio strategy, paying top up premiums, opting for nominee shall also have an option to purchase an
settlement option, increasing or decreasing premium immediate annuity or deferred annuity from another insurer
payment term, increasing or decreasing Sum Assured, at the then prevailing rate to the extent of percentage, as
increasing or decreasing policy term stipulated by the Authority, currently 50%, of the entire
proceeds of the policy net of commutation.
b) Where WoP on Death or ATPD is chosen:
ii) Withdraw the entire proceeds of the policy
On occurrence of earlier of death or ATPD of the life In case the death benefit is not sufficient to purchase
insured during the policy term while the policy is in minimum annuity as stipulated by the Authority from time to
force, the nominee shall get a lumpsum benefit (as time, the proceeds of the policy may be paid as lump sum
described below) immediately on occurrence of event
and the policy shall continue till the end of the policy Fund Enhancements
term. Additionally, the Company shall fund all future Online / Digital Discount
due premiums after the occurrence of event.
We may allow customers to initiate purchase of policies
On each future premium due date(s), an amount equal through ISNP mode (digital medium). For all such digital/online
to the instalment premium shall be credited to the sales, following additional benefits shall be applicable:
policyholder account by the Company in the same Option 1 – Smart Pension Secure:
proportion as the value of the total units held in each • Vesting Booster on the date of vesting
fund at the time of allocation. Option 2- Smart Pension Secure Plus:
The lumpsum benefit shall be 105 percent of the total • Loyalty Additions starting from end of 6th policy year Plus,
Regular/Single Premiums received up to the date • Vesting Booster on the date of vesting
of death
The Loyalty Additions or Vesting booster shall be defined as:
In addition to this: “x%” of the average of the Fund Values (Excluding Top-up
105 percent of the total Top-up premium paid up to the Fund Value) on the last business day of the last eight policy
date of death is also payable provided the Policyholder quarters will be added to the Fund value in the form of addition
has a Top-Up Premium Fund Value. of units.
The following condition shall apply on occurrence of death Where the “x%” is as follows:
or ATPD: Vesting Vesting Booster Loyalty Additions Vesting Booster
Year (applicable to (applicable to (applicable to
• The Fund Value including Top up Fund Value, if any, will
Option 1- Smart Option 2 – Smart under Option 2
remain invested in the respective funds and portfolio Pension Secure) Pension – Smart Pension
strategies as on date of death of the Life Insured. Secure Plus) Secure Plus)
• On the event of death, only the Fund Management 10 to 14 0.50% 1.25%
Charge and Policy Administration Charge will be 15 to 19 1.50% 0.10% every year 2.25%
deducted, and no other charges shall be applicable. starting from end
20 to 24 of 6th policy year
• On occurrence of ATPD event; the mortality, Fund 2.50% 3.25%
years till the end of
Management Charge and Policy Administration
Charge will be levied. No Morbidity charge will be >=25 policy term.
3.50% 4.25%
deducted thereafter years
• The nominee will be allowed to make Partial • The above will not be applicable in case of a Surrendered,
Withdrawals during the Policy Term and Surrender only Discontinued or Paid-up Policy, and will be payable
after completion of the PPT. The nominee will also be provided all due Regular Premiums/single premium under
allowed for performing fund switches. No other policy the Policy have been paid up to date.
alterations will be allowed i.e the nominee will not be • The above will be allocated to the Fund(s) in the same
eligible for redirection of premium, effecting a change in proportion of the Fund value as on the Vesting date
portfolio strategy, paying top up premiums, opting for • Loyalty Additions/Vesting Boosters are guaranteed
settlement option, increasing or decreasing premium non-negative amounts and shall not be revoked by the
payment term, increasing or decreasing Sum Assured, company provided the policy is in force and all due
increasing or decreasing policy term premiums have been paid till date.

5 6
Complete Annuity Booster: Partial Withdrawal Benefit
If the policyholder utilizes 100% of the Vesting Benefit to Subject to policy being in force (including when the policy is
purchase an annuity from the Company, then the company shall
add a Vesting Booster of 0.5% of the average of the Fund Values reduced paid up), Partial withdrawal will be available subject to
on the last business day of the last eight policy quarters. This will the following conditions:
be added to the Fund value in the form of addition of units. 1. Partial withdrawal can be made only after completion of 5
Benefit Illustration policy years.
Illustration 1 2. Shall not exceed 25% of the fund value at the time of partial
Mr. Sharma is a 45-year-old person, working at an MNC and is withdrawal.
looking forward to investing his money to accumulate wealth 3. Minimum amount allowed is R 6,000.
that he can use for his retirement. He then reaches out to Tata
AIA to buy Smart Pension Secure with Smart Pension Secure 4. Partial withdrawal is allowed only three times during the
option that will help him invest his money without any Premium entire term of the policy.
Allocation charge. With his investment of R 1,00,000, he gets
the below benefits throughout his policy term. 5. Partial withdrawals shall not be allowed which would result
The table below gives the Total Maturity Benefit for Mr. Sharma in termination of a contract.
aged 45 years at standard age: 6. The amount of partial withdrawal shall be treated as
• Fund Allocation: 100% in Flexi Growth Fund II preponement of the commuted portion of the surrender /
• Annualised Premium: 1,00,000
vesting benefit
• Mode of payment: Annual
Scenario Age Policy Term Premium Paying Annual Total Premium Fund Value Fund Value Annuity Value** Annuity Value**
(Years) (Years) Term (Years) Premium## (R) Payable (R) @ 8% (R) @ 4% (R) @8% (R) @4% (R)
1 45 25 25 1,00,000 25,00,000 58,67,906 33,10,773 5,93,946 3,34,652
2 45 20 10 1,00,000 10,00,000 24,75,637 13,47,052 2,28,844 1,24,337
*The premiums are excluding applicable taxes
** Annuity payable values shown are only for illustrative purposes only, actual
7. Partial withdrawal shall be allowed only against the
values will depend on the rates prevailing at the time of annuitization stipulated reasons:
• Higher education of children.
Illustration 2
• Marriage of children.
Mr. Shetty is a 45-year-old person who has just become a
father. He is looking forward to investing his money to • For the purchase or construction of residential house.
accumulate wealth for retirement and ensure that his family is • For treatment of critical illnesses of self or spouse.
financially secured in case of any unfortunate event. • Any other reason as per the IRDAI Circular/
He then reaches out to Tata AIA to buy Smart Pension Secure Guidelines/Regulations issued from time to time
with Smart Pension Secure Plus option that will help him invest Choose your investment strategy:
his money without any premium allocation charge. With an This product offers you the flexibility to invest in a manner that
investment of R 1,00,000, he gets the below benefits suits your investment risk profile and individual needs.
throughout the policy term. Additionally with Smart Pension
Secure Plus option, he is sure that his family is financially a) You can choose from a variety of funds
secured even if he is not around. OR
The table below gives the Total Maturity Benefit for Mr. Shetty b) Choose any one of the following PORTFOLIO
aged 45 years standard life: STRATEGIES
• Fund Allocation: 100% in Flexi Growth Fund II
i) Enhanced Systematic Money Allocation & Regular
• Annualised Premium: 1,00,000 Transfer (Enhanced SMART)
• Mode of payment: Annual
ii) Life-stage based Portfolio Strategy

Scenario Age Policy Term Premium Paying Annual Total Premium Fund Value Fund Value Annuity Value** Annuity Value**
(Years) (Years) Term (Years) Premium## (R) Payable (R) @ 8% (R) @ 4% (R) @8% (R) @4% (R)
1 45 25 25 1,00,000 25,00,000 45,34,713 23,78,798 4,58,760 2,40,186
2 45 20 10 1,00,000 10,00,000 21,42,390 11,03,309 1,97,985 1,01,766
*The premiums are excluding applicable taxes.
** Annuity payable values shown are only for illustrative purposes only, actual
values will depend on the rates prevailing at the time of annuitization

7 8
a) You can choose from a variety of funds 50 Index Pension Fund, Midcap 150 Momentum 50 Index
Your allocable Regular/ Single Premium and Top- Ups (if any) Pension Fund, Multicap Momentum Quality Index Pension
Fund and Tax Bonanza Consumption Pension Fund
are invested in one or more investment funds as per your
chosen asset allocation. You have an option of choosing any or If you wish to diversify your risk, you can choose to allocate
all of the 9 Funds or such funds which are available at the time your premiums in varying proportions amongst the 9
of allocation, based on your preferred asset allocation. investment funds.
We offer 9 investment funds ranging from 100% debt to 100% Our wide range of funds gives you the flexibility to redirect
future premiums and change your premium allocation
equity to suit your particular needs and risk appetite –
percentages from that point onwards. Also, you can switch
Large Cap Equity Pension Fund, Flexi Growth Pension monies from one investment fund to another at any time.
Fund, Mid Cap Opportunities Pension Fund, Income Switches must however be within the investment funds offered
Pension Fund, Dynamic Advantage Pension Fund, Alpha under this plan.

Investment Fund Fund Objective Risk Profile Asset Allocation Minimum Maximum
Equities and Equity
80% 100%
Large Cap Equity Linked Instruments
The primary investment objective of the Fund is to generate
Pension Fund Debt Instruments 0% 0%
long term capital appreciation from a portfolio that is invested High
(ULIF 079 01/01/25 Money Market Instruments,
predominantly in equity and equity linked securities.
LEP 110) Cash, Bank Deposits 0% 20%
and Mutual Funds
Equities and Equity
The primary investment objective of the Fund is to generate 70% 100%
Flexi Growth Linked Instruments
capital appreciation in the long term by investing in a portfolio
Pension Fund Debt Instruments 0% 10%
of stocks across market capitalization. The fund maintains High
(ULIF 080 01/01/25 Money Market Instruments,
flexibility to invest in carefully selected companies that offer
FPF 110) Cash, Bank Deposits 0% 30%
opportunities across large, mid or small capitalization space.
and Mutual Funds
Equities and Equity
Mid Cap 60% 100%
The primary investment objective of the Fund is to generate Linked Instruments
Opportunities
long term capital appreciation from a portfolio that is invested Debt Instruments 0% 00%
Pension Fund High
predominantly in Mid Cap Equity and Mid Cap Equity linked Cash / Money Market
(ULIF 081 01/01/25
securities Instruments, Bank Deposits 0% 40%
MOP 110)
and Mutual Funds
The primary investment objective of the Fund is to generate Equities and Equity
0% 0%
income through investing in a range of debt and money Linked Instruments
Income Pension
market instruments of various maturities with a view to Debt Instruments 60% 100%
Fund (ULIF 082 Low
maximizing the optimal balance between yield, safety and Cash / Money Market
01/01/25 IPF 110)
liquidity. The Fund will have no investments in equity or equity Instruments, Bank Deposits 0% 40%
linked instruments at any point in time and Mutual Funds
Equities and Equity
The primary investment objective of the Fund is to maximize 20% 80%
Linked Instruments
Dynamic Advantage the returns with medium risk. The fund will proactively allocate
Debt Instruments 20% 80%
Pension Fund (ULIF the corpus between Equity and Debt depending upon market
Medium Cash/ Money Market
083 01/01/25 DAP conditions and fluctuations that will provide security along
110) with adequate participation in the growth of the Indian Instruments (including
0% 20%
economy. CP/CD), Bank Deposits
and Mutual Funds
The primary investment objective of the Fund is to generate Equities and Equity
capital appreciation in the long term by investing in a portfolio 80% 100%
Alpha 50 Index Linked Instruments
Pension Fund (ULIF of stocks that are aligned to the Alpha 50 Index. The objective
High.
085 31/01/25 of the fund is to invest in companies with similar weights as in Cash and Money
NAP 110) the index and generate returns as closely as possible, subject 0% 20%
Market Securities.
to tracking error

9 10
 Investment Fund Fund Objective Risk Profile Asset Allocation Minimum Maximum
Midcap 150 Equities and Equity
The primary investment objective of the Fund is to generate 80% 100%
Momentum 50 Linked Instruments
capital appreciation in the long term by investing in a portfolio
Index Pension Fund High
of stocks that are aligned to the Midcap 150 Momentum 50 Cash and Money
(ULIF 086 28/02/25 0% 20%
Index. Market Securities.
MMP 110)
The primary investment objective of the Fund is to generate Equities and Equity
Multicap Momentum capital appreciation in the long term by investing in a portfolio 80% 100%
Linked Instruments
Quality Index of stocks that are aligned to the Multicap Momentum Quality
Pension Fund (ULIF High
Index. The objective of the fund is to invest in companies with Money Market Instruments,
087 31/03/25 MQP similar weights as in the index and generate returns as closely Cash, Bank Deposits 0% 20%
110) as possible, subject to tracking error. and Mutual Funds

The primary investment objective of the Fund is to generate Equities and Equity
Tax Bonanza 60% 100%
capital appreciation in the long term by investing in a Linked Instruments
Consumption diversified portfolio of companies which would benefit from
Pension Fund High Debt Instruments 0% 40%
India’s Domestic Consumption growth story. The Tax Bonanza
(ULIF 089 31/03/25 Consumption Fund could provide an investment opportunity Money Market Instruments,
TBP 110) in the theme of rising consumption power in India for long Cash, Bank Deposits 0% 40%
term returns and Mutual Funds

Equity Derivative for Hedging Purpose: Similar illustration would be applicable in the case of selling
stock futures.
While creating a diversified portfolio helps reduce stock specific
risks, however, to protect the portfolio returns from systematic Illustration of stock options:
risks the fund may resort to hedging through Index/Stock Assuming a scenario wherein we are long on a particular stock
Futures or Index/Stock options as stipulated by IRDAI. This “A” in the cash market. The price is R 200 and we are holding
would help to reduce market risk and volatility for policy holders. 10000 shares of the same which amounts to a portfolio of
Illustration of Futures: R 20,00,000.
Assume a portfolio of R 55 lakh. If we anticipate volatility in the Due to uncertainty in the market, we expect adverse impact on
markets, we may hedge the portfolio with Index futures as per the stock price. As per IRDAI guidelines we can buy a put
IRDAI guidelines. For example, we hedge the portfolio by option of that stock in the derivatives market.
selling Index futures of Nifty50. Let’s understand with 3 cases:
Let’s say the current of Nifty50 is 22000 and the lot size is 50, We initially assumed that we bought the stock for R 200 in the
Hence, the value of 1 lot of Nifty50 is (22000*50) =
cash market.
R 11,00,000.
Case 1: The stock price moves up to R 220
Since we are holding a long position in the stock portfolio, we
will have to take an opposite position to hedge it. In such a situation, we make a profit of R 20 in the cash market
• Therefore, sell 1 lot of Nifty50 Index futures worth since we had purchased the stock at a price of R 200.
R 11,00,000 However, we shall lose the money which we paid to buy Put
options which is R 5 giving us a net profit of R 15.
• The remaining R (55,00,000 – 11,00,000) = R 44,00,000
remains unhedged. Case 2: The stock price falls to R 180
Now say the market falls by 10% and as a result, the Index In such a scenario, we shall have a loss of R 20 in the cash
Futures also falls by 10%. Now let us assume that the value of market and make a profit of R 20 in the derivatives market.
the portfolio also falls by 10%. Thereby making a net loss of R 5 which is the premium paid
Hence, initially to buy the Put options.
• Loss from portfolio = (10% of R 55,00,000) = R 5,50,000. Case 3: The stock price remains unchanged at R 200
• Profit from the short position in Index Futures = (10% of In the 3rd case, we shall have no gain or loss in the cash
11,00,000) = R 1,10,000. market. However, we shall lose the money paid as a premium
• Hence the overall loss gets reduced to R (5,50,000 – essentially making a net loss of R 5.
1,10,000) = R 4,40,000. This was only possible because Similar illustration will be applicable in case of selling an
the portfolio was carefully hedged with Index Futures Index option.
before the market crash.
11 12
We will be abiding by the exposure limits as prescribed by b) The Company shall inform IRDAI of such deferment in the
IRDAI guidelines. valuation of assets. During the continuance of the force
Although the funds are open ended, the Company may, as per majeure events, all request for servicing the policy including
Board approved policy and subject to prior approval from policy related payment shall be kept in abeyance.
IRDAI, completely close any of the funds. You will be given at c) The Company shall continue to invest as per the fund
least three months’ prior written notice of our intention to close mandates as chosen by You. However, the Company shall
any of the Funds completely or partially except in ‘Force reserve its right to change the exposure of all or any part of
Majeure’, where the company may give a shorter notice. the Fund to Money Market Instruments [as defined under
In case of complete closure of a Fund, on and from the date of Regulations 2(j) of IRDAI (Investment) Regulations, 2016] in
such closure, Tata AIA Life Insurance shall cease to issue and circumstances mentioned under points (a and b) above.
cancel units of the said Fund and cease to carry on activities in The exposure to of the Fund as per the fund mandates as
respect of the said Fund, except such acts as are required to chosen by You shall be reinstated within reasonable
complete the closure. In such an event if the Units are not timelines once the force majeure situation ends.
switched to another Fund by you, Tata AIA Life Insurance will d) In such an event, an intimation of such force majeure event
switch the said units to any other appropriate Fund with similar shall be uploaded on Our website for information.
characteristics as per Board approved policy, with due
weightage for the respective NAVs at the time of switching. Discontinued Pension Policy Fund:
The NAV of the segregated funds shall be computed as: The investment objective for Discontinued Pension Policy Fund
Market value of investment held by the fund + value of current is to provide capital protection and a minimum return as per
assets - (value of current liabilities and provisions, if any) regulatory requirement with a high level of safety and liquidity
------------------------------------------------------------------------ through judicious investment in high quality short-term debt.
The strategy is to generate better returns with low level of risk
Number of units existing on Valuation Date (before
through investment in fixed interest securities having short term
creation/redemption of units)
maturity profile. The risk profile of the fund is very low. There is
The various funds offered under this product are the names of a minimum guarantee of interest @ 4% p.a. or as prescribed by
the funds and do not in any way indicate the quality of these IRDAI from time to time
funds, their future prospects and returns
In case of exceptional circumstances/force majeure events, Asset allocation:
investment in Cash / Money Market Instruments in all above Instrument Allocation
funds may go up to 100%, subject to prior approval of IRDAI. Debt Instruments (Government Securities and
Exceptional circumstances may include: 60% -100%
Corporate Debt)
• when one or more stock exchanges which provide a basis Money Market Instruments, Bank Fixed Deposits, 0% - 40%
for valuation of the assets of the fund are closed otherwise Cash & Mutual Funds
than for ordinary holidays.
b) Choose from the following PORTFOLIO STRATEGIES:
• when, as a result of political, economic, monetary or any
circumstances which are not in the control of the i) Enhanced Systematic Money Allocation & Regular
Company, the disposal of the assets of the fund would be Transfer (Enhanced SMART)
detrimental to the interests of the continuing policyholders. This option is applicable till PPT only. Enhanced SMART
• in the event of natural calamities, strikes, war, civil unrest, strategy is not available with top-up premium fund.
riots and bandhs. Enhanced SMART is a systematic transfer plan. It
• in the event of any force majeure or disaster that affects the allows you to enter the volatile equity market in a
normal functioning of the Company structured manner Under Enhanced SMART, you need
to choose two funds, a debt-oriented fund and an
Force Majeure Provisions equity-oriented fund. Please refer to table below for the
a) The Company shall value the Funds (SFIN) on each day for choice of available funds:
which the financial markets are open. However, the
Debt Oriented Funds Equity Oriented Funds
Company may value the SFIN less frequently in extreme
circumstances external to the Company i.e. in force Income Pension Fund Large Cap Equity Pension Fund
majeure events, where the value of the assets is too Flexi Growth Pension Fund
uncertain. In such circumstances, the Company may defer Mid Cap Opportunities Pension Fund
the valuation of assets for up to 30 days until the Company Alpha 50 Index Pension Fund
is certain that the valuation of SFIN can be resumed.
13 14
Debt Oriented Funds Equity Oriented Funds • Request for commencement, change or restart of
Midcap 150 Momentum 50 Index Enhanced SMART will be subject to all due premiums
Pension Fund being paid.
Multicap Momentum Quality Index • Enhanced SMART option is available only to the
Pension Fund policies with the annual/single mode of payment.
Tax Bonanza Consumption Pension Fund • Enhanced SMART is free of any charge.
Through Enhanced SMART, your entire annual/single • Policyholder will have the option to stop the Enhanced
allocable premium will be parked in the chosen SMART at any point of time by a written request and it
debt-oriented fund along with any existing units in that shall take effect from the next Enhanced SMART
switching that follows the Company’s receipt.
fund, if any. These combined units in the chosen
debt-oriented fund will be systematically transferred on • Manual fund switching for the two funds selected for
a monthly basis to the chosen equity-oriented fund. All activation of Enhanced SMART is not allowed. Manual
your future allocable premiums will also follow the same fund switching is allowed on other available funds. For
Top-up premiums, manual switching option will be
pattern as long as Enhanced SMART is active on your
available at applicable charges.
plan. Switching to/from the Enhanced SMART funds to
other available funds is not allowed. • Any amount remaining in regular premium funds other
than the two funds selected for activation of Enhanced
Thus, while the stock market remains volatile and SMART, would continue to remain invested in
unpredictable, Enhanced SMART strategy offers a those funds.
systematic way of rupee cost averaging. However, all • Enhanced SMART Option will not be available during
investments through this option are still subject to Discontinuance of Premium. On revival of the policy,
investment risks, which shall continue to be borne you can opt for Enhanced SMART again.
by you. • In Case of Single Premium option:
A portion of total units in the chosen debt-oriented fund o Enhanced SMART strategy can only be opted for
shall be switched automatically into the chosen at policy inception.
equity-oriented fund in the following way:
o Enhanced SMART strategy will be applicable for
Monthly Enhanced SMART policy year 1 only.
Policy Month 1 1/12 of the units available at the o From the end of year 1, the amount will remain
beginning of Policy Month 1 invested in the Equity oriented fund as chosen by
Policy Month 2 1/11 of the units available at the customer under Enhanced SMART strategy.
beginning of Policy Month 2 o You have an option to do manual fund switching to
.......................... other available funds after the end of policy year 1.
Policy Month 6 1/ 7 of the units available at the The Company may cease offering Enhanced SMART
beginning of Policy Month 6 by giving 30 days of written notice subject to prior
approval of Insurance Regulatory and Development
..........................
Authority of India.
Policy Month 11 ½ of the units available at the
ii) Life-Stage based Portfolio Strategy
beginning of Policy Month 11
Under the Life-stage based Portfolio Strategy,
Policy Month 12 Balance units available at the Policyholder’s portfolio will be structured as per age
beginning of Policy Month 12 and risk profile selected by Policyholder (Conservative,
The following are the notable features of Enhanced SMART: - Moderate or Aggressive).
• Enhanced SMART can be availed by you, exercisable Under Life-Stage based strategy, the Policyholder
at policy inception or on any policy anniversary. A needs to choose two funds, a debt-oriented fund and
written request to commence, change or restart an equity-oriented fund. Please refer to table below for
Enhanced SMART should be received 30 days in the choice of available funds:
advance of the policy anniversary. The request shall Debt Oriented Funds Equity Oriented Funds
take effect on the following policy anniversary. Once Income Pension Fund Large Cap Equity Pension Fund
chosen the strategy will be applicable for future Flexi Growth Pension Fund
premiums for all the premium payment terms except
Mid Cap Opportunities Pension Fund
single premium.
Alpha 50 Index Pension Fund

15 16
Debt Oriented Funds Equity Oriented Funds • Policyholder will have the option to stop the Life-Stage
Midcap 150 Momentum 50 Index Based Strategy at any point of time by a written
Pension Fund request at least 30 days prior to policy anniversary and
the strategy shall stop at the following policy
Multicap Momentum Quality Index
anniversary.
Pension Fund
Tax Bonanza Consumption Pension Fund • Manual fund switching or Premium- Redirection shall
not be allowed under this strategy.
Through this strategy, Policyholder’s allocable premium • Life-Stage Based Strategy Option will not be available
will be parked in the chosen equity oriented and during Discontinuance of Premium. On revival of the
debt-oriented fund in a predetermined proportion policy, the Policyholder can opt for Life-Stage Based
based on the selected risk profile and age. Strategy again.
As Policyholder ages, Policyholder’s Fund value will be Tracking and Assessing Your Investments
shifted automatically from chosen equity-oriented fund You can monitor your investments.
to chosen debt-oriented fund according to then
applicable Equity-Debt proportion as per the age group. • On our website (www.tataaia.com);
If opted for this strategy, Policyholder shall not be • Through the annual statement detailing the number of
allowed to exercise the Premium-Redirection or units you have in each investment fund and their
Fund-Switching option. respective then prevailing NAV; and
However, Policyholder will have an option to opt out of • Through the published NAVs of all investment funds on
this strategy anytime during the Policy Term, by our website and Life council’s website.
notifying the company at least 30-days prior to the
Other benefits available under the plan
policy anniversary. Policyholder will be allowed to
exercise free Switches or Premium Redirection options Top-up Facility
after opting out of this strategy. • Single Premium Top-ups will be allowed during the period
The percentage allocation to equity fund according to of policy term, provided premiums are paid up to date.
age and risk profile is as given below. The remaining • Top-up premiums once paid cannot be withdrawn from the
percentage allocation out of 100% shall be in the fund for a period of 5 years from the date of acceptance of
debt fund. the `Top-up' premium. This rule is not applicable in case of
Age Group Risk Profile complete withdrawal/termination of policy.
Aggressive Moderate Conservative • Top-up Premiums are subject to charges as described
1-30 90% 70% 50% under charges section
31-40 80% 60% 50% • Top-up premiums can be allocated in any proportion
41-50 70% 50% 30% between the funds offered as chosen by the Policyholder
51-60 55% 35% 15% Flexibility of Premium Mode
61-70 40% 20% 0% You may choose to pay your premiums Annually,
71 & above 25% 5% 0% Semi-annually, Quarterly, Monthly or even single time as per
Units shall be rebalanced as necessary to achieve the your convenience as per table below subject to minimum
above proportions of the Fund Value in the equity fund premium conditions for each mode
and the debt fund. The re-balancing of units shall be
Monthly 0.0833333 times of Annualised Premium
done on the last day of each Policy quarter.
Quarterly 0.25 times of Annualised Premium
The following are the notable features of Life-Stage Based
Strategy: - Semi-Annually 0.50 times of Annualised Premium
Annually 1 times of Annualised Premium
• The Life-Stage Based strategy can be availed by
Policyholder, exercisable at policy inception or on any
Switching Between the Funds
policy anniversary. A written request to commence,
change or restart Life-Stage Based Strategy should be During the policy term, you may switch your investment or part
received 30 days in advance of the policy anniversary. of investment from one fund to another as per your outlook
The request shall take effect on the following policy about the markets. Switching may be restricted if the
anniversary. Enhanced SMART/ Life-stage based portfolio strategy is
• Request for commencement, change or restart of the chosen. Please refer to Choose your Investment Strategy
strategy will be subject to all due premiums being paid. section for details. Any number of switches are allowed in a
policy year and are available at no additional cost.
• Life-Stage Based Strategy is free of any charge.
17 18
You may send the Company a written request to switch of total fund value can be utilised as per the regulatory
investment between available Funds. The written request must guidelines.
specify the Fund(s) from which Units are to be redeemed and
During this Settlement Period, the investment risk will be borne
the Fund(s) to which Units are being allocated.
by the Policyholder
Premium Re-direction
NAV Calculations
Premium Re-direction facility helps you to allocate future
The Net Asset Value (NAV) of the segregated funds shall be
premiums to a different fund or set of funds. There is no
computed as:
Premium-Redirection charge. Premium Re-direction will not be
allowed if Enhanced SMART is chosen. Market value of investment held by the fund + value of current
assets - (value of current liabilities and provisions, if any)
Flexibility of Additional Coverage ------------------------------------------------------------------------
The set of unit-deducting riders are as below: Number of units existing on Valuation Date (before
• Tata AIA Health Secure (UIN: 110A050V01 or any creation/redemption of units)
later version) The Net Asset value (NAV) will be determined and published
Riders can be attached at policy inception or any policy daily in various financial newspapers and will also be available
anniversary of the base plan subject to the rider premium on www.tataaia.com, the official website of Tata AIA Life. All
payment term and the policy term shall not be more than the you have to do is multiply the number of Units you have with
outstanding premium payment term and outstanding policy the published NAV to arrive at the value of your investments.
term for the base plan.
Credit/Debit of Units
Any minimum and maximum sum assured limits on all the
above unit-deducting and/or premium-paying riders will remain Premiums received, will be used to purchase Units at the NAV
applicable, irrespective of the fact that lower or higher sum according to Policyholder’s instruction for allocation of
assured might be chosen as the base cover under this plan. Premium. Units purchased by Premium and Top-Up Premium
The sum assured for any attaching rider(s) will not exceed the will be deposited into the Regular/Single Premium Fund Value
Basic Sum Assured except for accidental death benefit rider. and Top-Up Premium Fund Value respectively.
The rider(s) shall be attached with the base plan in compliance Where notice is required (Partial Withdrawal, Complete
with Regulation 8 of IRDAI (Insurance Products) Regulations, withdrawal or death of the Insured), Units being debited shall
2024 as specified. be valued by reference to their NAV as specified in the section
If there is an overlapping benefit between the Base product “Cut-off time for determining the appropriate valuation date”
and any of the benefit option under the named riders, that under Fund Provisions.
benefit option of the rider shall not be offered. Cut-off time for determining the appropriate valuation date
Settlement Option The appropriate business day at which NAV will be used to
Upon Death of the policyholder, the nominee has an option to purchase or redeem Units shall be determined in the
opt for the settlement option. This option is provided to defer following manner: -
the utilisation of accumulated fund, in case of adverse
a) Purchase & Allocation of Units in respect of Premiums
conditions for the nominee – in terms of depressed market
conditions in years prior to death or lower annuity rates being received or Fund Value(s) switched in:
offered, etc. • If the premiums, by way of cash or a local cheque or a
demand draft payable at par or the request for
The period of settlement shall not, in any case, be extended
switching in Fund Value(s) is/are received by us at or
beyond a period of five years from the date of death. before 3:00 p.m. of a business day at the place where
The fund value can be utilised as per IRDAI guidelines. these are receivable, NAV of the date of receipt or the
This option is not available in case of Smart Pension Secure due date, whichever is later shall apply.
Plus option. • If the premium/s, by way of cash or a local cheque or a
demand draft payable at par or the request for
Switches may be allowed during the settlement period. Partial
switching in Fund Value(s) is/are received by us after
withdrawals shall not be allowed during this period. 3:00 pm of a business day, at the place where these are
During this period, only Fund Management Charges and receivable, NAV of the next business day following the
Mortality Charges will be deducted as due. No other charges receipt or the due date, whichever is later shall apply.
shall be levied. • If the premium/s is received by us by way of an
At any time during the Settlement Period, the Policyholder outstation cheque/outstation demand draft, NAV of the
Nominee has the option to withdraw the Total Fund Value at date of on which these instruments are realized
any time without any additional charges levied. The withdrawal shall apply.

19 20
b) Sale & Redemption of Units in respect of withdrawals, The waiver of premium benefit under Smart Pension Secure
surrender, Fund Value(s) switched out, death claim: Plus option will not be applicable if the policy is in discontinued
• If a valid request/application is received by us at or status and/or reduced paid-up status.
before 3:00 pm of a business day, NAV of the date of For Single Pay
receipt shall apply.
The policyholder has an option to surrender any time during the
• If a valid request/application is received by us after 3:00 lock-in period. Upon receipt of request for surrender, the fund
pm of a business day, NAV of the next business day value, after deducting the applicable discontinuance charges,
following the receipt shall apply.
shall be credited to the discontinued pension policy fund.
Discontinuance of Premiums The policy shall continue to be invested in the discontinued
a) Within the lock-in period: pension policy fund and the proceeds from the discontinuance
fund shall be paid at the end of lock-in period which may be
For Regular/ Limited Premium Policies: utilized as per provisions by the Regulatory Authority. Only fund
Upon expiry of the grace period, in case of discontinuance of management charge can be deducted from this fund during
policy due to non-payment of premium, the fund value after this period. Further, no risk cover shall be available on such
deducting the applicable discontinuance charges, shall be policy during the discontinuance period.
credited to the discontinued pension policy fund and the risk
cover and rider cover, if any, shall cease. “Proceeds of the discontinued policies” means the fund
value as on the date the policy was discontinued, after addition
All such discontinued policies shall be provided a revival period of interest computed at the minimum guaranteed interest rate.
of three years from date of first unpaid premium. On such
discontinuance, TATA AIA shall communicate the status of the Revival of a discontinued policy during lock-in period
policy, within three months of the first unpaid premium, to the Upon revival, the policy shall be revived restoring the risk cover,
policyholder and provide the option to revive the policy within along with the investments made in the segregated funds as
the revival period of three years. The policyholder will have chosen by the policyholder, out of the discontinued fund, less
three options thereafter: the applicable charges.
1) Revive of Policy: In case the policyholder opts to revive but At the time of revival, we shall:
does not revive the policy during the revival period, the
proceeds of the discontinued pension policy fund shall be i) collect all due and unpaid premiums without charging any
paid to the policyholder at the end of the revival period or interest or fee
lock-in period whichever is later. In respect of revival period ii) collect policy administration charge and premium
ending after lock-in period, the policy will remain in allocation charge as applicable during the discontinuance
discontinuance fund till the end of revival period. The Fund period. Guarantee charges, if applicable, during the
management charges of discontinued pension policy fund discontinuance period, may be deducted provided the
will be applicable during this period and no other charges guarantee continues to be applicable. No other charges
will be applied. shall be levied.
2) Continue the policy till revival period: In case the iii) add back to the fund, the discontinuance charges
policyholder does not exercise the option as set out above, deducted at the time of discontinuance of the policy.
the policy shall continue without any risk cover and rider
cover, if any, and the policy fund shall remain invested in the Segregated Discontinued Pension Policy Fund
discontinued pension policy fund. At the end of the lock-in The discontinued pension policy fund shall be a segregated
period, the proceeds of the discontinuance fund shall be unit fund. Only fund management charges shall be applicable
paid to the policyholder and the policy shall terminate. The on such funds. The fund management charge on discontinued
Fund management charges of discontinued pension fund pension policy fund shall be declared by IRDAI from time to
will be applicable during this period and no other charges time. Currently, the fund management charge shall not exceed
will be applied. 50 basis points per annum.
3) Complete withdrawal of Policy: The policyholder has an Minimum Guaranteed Interest Rate
option to surrender the policy anytime and proceeds of the The minimum guaranteed interest rate applicable to the
discontinued policy shall be payable at the end of lock-in discontinued pension fund shall be declared by IRDAI from
period or date of surrender whichever is later. time to time. The current minimum guaranteed interest rate
The vested amount shall be utilised in accordance with applicable to the discontinued fund is 4% per annum.
regulatory guidelines (mentioned in options to utilize vesting The excess income earned in the discontinued pension fund
benefit). over and above the minimum guaranteed interest rate shall

21 22
also be apportioned to the discontinued pension policy fund in However, the policyholder has an option to surrender the policy
arriving at the proceeds of the discontinued policies and shall anytime and proceeds of the policy fund shall be payable
not be made available to the shareholders. subject to regulatory guidelines for payout on surrender.
b) After the lock-in period: For Single Pay:
For Regular/ Limited Premium Policies: The policyholder has an option to surrender the policy any
time. Upon receipt of request for surrender, the fund value as
Upon expiry of the grace period, in case of discontinuance of on date of surrender shall be payable subject to regulatory
policy due to non-payment of premium after lock-in period, the guidelines for payout on surrender.
policy shall be converted into a reduced paid-up policy. The
Revival of a discontinued policy after lock-in period
policy shall continue to be in reduced paid-up status without
rider cover, if any. All charges as per terms and conditions of Upon revival, the policy shall be revived restoring the original
the policy may be deducted during the revival period. However, risk cover, benefits and charges in accordance with the terms
the mortality charges shall be deducted based on the reduced and conditions of the policy.
paid-up sum assured only. At the time of revival, we:
On such discontinuance, TATA AIA shall communicate the i) shall collect all due and unpaid premiums under base plan
status of the policy, within three months of the first unpaid without charging any interest or fee
premium, to the policyholder and provide the following options: ii) shall not levy any other charges.
(1) To revive the policy within the revival period of three years, Reduced Paid Up
or
As per section "Discontinuance of Premium: b) After the
2) Continue the policy till the revival period lock-in period" above.
3) Complete withdrawal of the policy Reduced paid-up sum assured = 105% of Total Premiums Paid
The Waiver of premium benefit under Smart Pension Secure
Plus option, will not be applicable if the policy is in the reduced Complete Withdrawal / Surrender of the Policy
paid-up status. Within the Lock-in Period
In case the policyholder opts for 1) but does not revive the policy In case of surrender during the first five years, surrender value
during the revival period, the fund value (including any Top-Up shall become payable only after the completion of the lock-in
fund value) shall be paid to the policyholder at the end of the period. Upon receipt of request for surrender, the fund value,
revival period subject to Regulatory guidelines. after deducting the applicable discontinuance charges, shall
The death benefit during the revival period shall be as be credited to the discontinued pension policy fund.
mentioned in death benefit section. The policy shall continue to be invested in the discontinued
The policy shall terminate on the death of Life Insured. policy fund and the ‘Proceeds of the Discontinued Policy’ i.e.
the Fund Value as on the date of discontinuance plus entire
In case the policyholder opts 2), i.e., to continue the policy income earned after deduction of the fund management
till revival period, the fund value after deducting mortality charges, subject to a minimum guarantee of interest @ 4% p.a.
charges shall be payable at end of revival period subject to or as prescribed by IRDAI from time to time can be utilized after
Regulatory Guidelines. the lock-in period. Proceeds from the discontinuance fund
The death benefit during the revival period shall be as shall be paid at the end of lock-in period subject to options
mentioned in death benefit section available on surrender given below. Only fund management
charge can be deducted from this fund during this period.
The policy shall terminate on the death of Life Insured. Further, no risk cover shall be available on such policy during
In case the policyholder opts 3), i.e., to withdraw the policy the discontinuance period.
completely, then the policy will be surrendered, and the fund In case of death of Insured during this period the nominee can
value (including any Top-Up fund value) shall be paid to the exercise one of the following options -
Policyholder subject to regulatory guidelines. i) To utilize the entire proceeds of the policy or part thereof for
In case the policyholder does not exercise any option as set out purchasing an immediate annuity or deferred annuity from
above, the policy shall continue to be in reduced paid up status. the Company at the then prevailing rate. However, the
At the end of the revival period the proceeds of the policy fund nominee shall also have an option to purchase an
shall be paid to the policyholder subject to Regulatory immediate annuity or deferred annuity from another insurer
guidelines and the policy shall terminate. at the then prevailing rate to the extent of percentage, as
stipulated by the Authority, currently 50%, of the entire
The death benefit during revival period shall be as mentioned in proceeds of the policy net of commutation.
death benefit section.
ii) Withdraw the entire proceeds of the policy
The policy shall terminate on the death of Life Insured.
23 24
After Lock-in Period Funds FMC
After the lock-in period, the surrender value shall be equal to per annum
the fund value as on the date of surrender for both single and Dynamic Advantage Pension Fund 1.35%
regular pay. Alpha 50 Index Pension Fund 1.35%
The following options shall be available to the policyholder on Midcap 150 Momentum 50 Index Pension Fund 1.35%
the date of surrender: Multicap Momentum Quality Index Pension Fund 1.35%
1) To utilize the entire proceeds to purchase immediate Tax Bonanza Consumption Pension Fund 1.35%
annuity or deferred annuity from the company at the then Fund Management Charges are subject to revision by
prevailing annuity rate. Company with prior approval of IRDAI but shall not exceed
2) To commute up to 60% and utilize the balance amount to 1.35% per annum of the Fund value which is the maximum limit
purchase immediate annuity or deferred annuity from the currently specified by the Authority and can change from time
same insurer at the then prevailing annuity rate. to time.
3) Policyholder shall also be given an option to purchase A Fund Management Charge of 0.50% p.a. shall be charged
immediate annuity or deferred annuity from another insurer on Discontinued Policy Fund. The current cap on Fund
at the then prevailing annuity rate to the extent of Management Charge (FMC) for Discontinued Policy Fund is
percentage, as stipulated by the Authority, currently 50%, 0.50% p.a. and shall be declared by the Authority from time
of the entire proceeds of the policy net of commutation. to time.
For points 1) and 2), the purchase of annuity shall be subject to Mortality Charge
terms and conditions under the product. In case the proceeds The Mortality Charge shall be deducted by cancelling Units at
of the policy either on surrender or vesting, net of the current NAV, from the Fund value of the Policy at the
commutation, is not sufficient to purchase minimum annuity as beginning of each policy month. In case of the Top-Up Sum
specified in regulatory guidelines, such proceeds of the policy Assured, the same will be deducted from the Top-Up Premium
may be paid to the policyholder or beneficiary as lump sum. Fund Value. If the Fund Value is insufficient, then mortality
Lock-in period means the period of 5 consecutive completed charge will be deducted from the Top-Up Premium Fund Value,
years from the date of commencement of the policy, during if any and vice-versa.
which period the proceeds of the policies cannot be paid by Mortality charge = Sum at Risk (SAR) multiplied by the
the insurer to the policyholder or to the insured, except in the applicable Mortality Rate for the month, based on the attained
case of death or upon the happening of any other contingency age of the insured.
covered under the policy. SAR is defined as:
Charges Applicable 1. Option 1 – Smart Pension Secure:
Premium Allocation Charge SAR in each month for Regular Account is the difference
There are no Premium Allocation Charge(s) on base premium between:
and Top-up premium. a) 105% times total premium paid Less partial
withdrawals made during the two-year period
Policy Administration Charge
immediately preceding the death of the life assured
Single Pay: 0.025% of Single premium per month with and
maximum capping of INR 500.
b) Single / Regular Premium Fund Value at the time of
Limited Pay/Regular Pay: 0.25% of annualized premium per deduction of Mortality Charge
month with maximum capping of INR 500.
Sum at Risk (SAR) in each month for Top-Up Account is
In case of Online and Digital Sales, no policy administration the difference between:
charges are applicable after 10th policy year. a) Top-Up Sum Assured from the relevant Top-Up
Fund Management Charge Premium Fund Value
Funds FMC and
per annum b) Top-up Premium Fund Value at the time of deduction of
Large Cap Equity Pension Fund 1.35% Mortality Charge.
Flexi Growth Pension Fund 1.35% 2) Option 2 – Smart Pension Secure Plus:
Mid Cap Opportunities Pension Fund 1.35% SAR in each month for Regular Account is:
Income Pension Fund 0.80%
105% times total premium paid
25 26
SAR in each month for Top-Up Account is Top-Up Sum Discontinuance Charge
Assured from the relevant Top-Up Premium Fund Value You can discontinue paying premium anytime during the policy
In addition to the above, an additional mortality charge for term by intimating to the company. However, when the request
Waiver of Premium shall be deducted by cancelling Units at for discontinuance from the policy is within the lock-in period of
the current NAV, from the Fund value of the Policy at the 5 years from policy inception, total fund value, net of
beginning of each policy month, which will be calculated as: discontinuance charges as on the date of discontinuance shall
a) Where only WoP on Death is chosen: be put in the ‘Discontinued Pension Policy Fund’. The
Factor A * Annualised Premium * applicable Mortality ‘Proceeds of the Discontinued Policy’ i.e. the fund value as on
Rate for the month, based on the attained age of the date of discontinuance plus entire income earned after
the insured. deduction of the fund management charges, subject to a
Where Factor A represents the present value of future minimum guarantee of interest @ 4% p.a. or as prescribed by
premiums payable annually at 5% p.a IRDAI from time to time shall be paid to the Policyholder only
after completion of the lock-in period.
b) Where WoP on Death or ATPD is chosen:
The following table shows discontinuance charges applicable
Factor A * Annualised Premium * applicable Mortality
Rate for the month, based on the attained age of for Single Pay Option
the insured. Where the policy Maximum Discontinuance Charges for
Plus is discontinued the policies having Single Premium
during the up to R 3,00,000/-
Factor A * Annualised Premium * applicable Morbidity
policy year
Rate for the month, based on the attained age of
the insured. Lower of 2% of Single Premium or Single
1 Premium Fund Value subject to a maximum of
Where Factor A represents the present value of future
R 3000/-
premiums payable annually at 5% p.a
Lower of 1.5% of Single Premium or Single
For non-annual premium payment mode, Factor A is 2 Premium Fund Value subject to a maximum of
increased by adding 0.5 to the applicable annual factor. R 2000/-
SAR in each month for Top-Up Account is Top-Up Sum Lower of 1% of Single Premium or Single
Assured from the relevant Top-Up Premium Fund Value 3 Premium Fund Value subject to a maximum of
The Mortality and Morbidity Charges will be guaranteed for R 1500/-
the policy term. Lower of 0.5% of Single Premium or Single
4 Premium Fund Value subject to a maximum of
The Company may alter all the above charges (except
R1000/-
Mortality/Morbidity Charge which is guaranteed throughout
the term) by giving an advance notice of at least 3 months to 5 and onwards Nil
the Policyholder subject to prior approval of IRDAI and will
have prospective effect. Where the policy Maximum Discontinuance Charges for
is discontinued the policies having Single Premium
SAR for Reduced Paid-up Policies during the above R 3,00,000/-
The SAR in each month for policies in reduced paid-up policy year
status is the difference between: Lower of 1% of Single Premium or Single
1 Premium Fund Value subject to a maximum of
a) 105% times total premium paid Less partial R 6000/-
withdrawals made during the two-year period
Lower of 0.70% of Single Premium or Single
immediately preceding the death of the life assured 2 Premium Fund Value subject to a maximum of
and R 5000/-
b) Fund Value at the time of deduction of Mortality Charge Lower of 0.50% of Single Premium or Single
3 Premium Fund Value subject to a maximum of
Sum at Risk (SAR) in each month for Top-Up Account is R 4000/-
the difference between: Lower of 0.35% of Single Premium or Single
a) Top-Up Sum Assured, from the relevant Top-Up 4 Premium Fund Value subject to a maximum of
Premium Fund Value R 2000/-
5 and onwards Nil
and
b) Top-up Premium Fund Value at the time of deduction of
Mortality Charge.
27 28
The following table shows discontinuance charges applicable Redirection shall not be allowed in case Enhanced SMART
for Regular / Limited Pay Option strategy is chosen.
Where the policy Maximum Discontinuance Charges for POLICY TERMINATION
is discontinued the policies having annualized
during the premium up to r 50,000/- All coverage under this Policy shall automatically terminate on
policy year the occurrence of the earliest of the following:
Lower of 20% of Annualised Premium or (1) Date of Vesting of policy
1 Regular Premium Fund Value subject to a
maximum of R 3000/- (2) Date of complete withdrawal/surrender
Lower of 15% of Annualised Premium or (3) Date of Death of the Insured, only if policyholder had
2 Regular Premium Fund Value subject to a chosen Option 1, or
maximum of R 2000/-
(4) Date of end of lock-in-period/revival period, whichever is
Lower of 10% of Annualised Premium or later in case of Discontinuance of Premium within 5 years,
3 Regular Premium Fund Value subject to a
maximum of R 1500/-
provided the policy is not revived during the revival period.
Lower of 5% of Annualised Premium or (5) Date of end of lock-in-period in case of withdrawal request
4 Regular Premium Fund Value subject to a raised during the first five years for a Single Pay policy.
maximum of R 1000/- (6) A policy will terminate as and when the total fund value
5 and onwards Nil becomes less than or equal to 1% of Single Premium; OR
Where the policy Maximum Discontinuance Charges for as and when the total fund value becomes less than or
is discontinued the policies having annualized equal to one Annualised Premium in case of regular/limited
during the premium above R 50,000/- premium policy; except if any of the following conditions
policy year is true:
Lower of 6% of Annualised Premium or a. Five policy years have not elapsed since the inception
1 Regular Premium Fund Value subject to a of the contract
maximum of R 6000/-
Lower of 4% of Annualised Premium or b. If the policy is in-force premium paying
2 Regular Premium Fund Value subject to a The balance fund value shall be payable to the
maximum of R 5000/- policyholder. This situation may result because of the
Lower of 3% of Annualised Premium or combined impact of partial withdrawals at inopportune
3 Regular Premium Fund Value subject to a time and fund performance.
maximum of R 4000/-
Lower of 2% of Annualised Premium or Terms and Conditions
4 Regular Premium Fund Value subject
TATA AIA Smart Pension Secure is available through
maximum of R 2000/-
online sales.
5 and onwards Nil
Free Look Period
There are no discontinuance charges applicable on Top-Up
Premium fund value The maximum discontinuance charge shall If the policy holder is not satisfied with the terms &
not exceed the limits as decided by IRDAI from time to time. conditions/features of the Policy, policy holder has the right to
cancel the Policy by giving written notice to Tata AIA and policy
Partial Withdrawal Charge
holder will receive the non-allocated premium plus charges
There are no partial withdrawal charges under this plan. levied by cancellation of units plus fund value at the date of
Fund Switching Charge cancellation less (a) Extra Premium Allocation (b) proportionate
There are no fund switching charges. risk premium for the period of cover (c) medical examination
costs, if any and (d) stamp duty if any, along with GST on above
Miscellaneous Charge: which has been incurred for issuing the Policy. Such notice
Nil must be signed by policy holder and received directly by TATA
Premium Re-direction Charge AIA within 30 days after policy holder or person authorized by
policy holder receives the Policy
Fund redirection is allowed for future limited/ regular
premium/(s), provided percentage chosen is integral Grace Period
percentage for each fund and sums to 100%. There is no fund If you are unable to pay your Premium on time, starting from
re-direction charge applicable under this Product. the date of first unpaid premium, a grace period of 30 days will
29 30
be offered for policies on Annual, Semi- Annual or Quarterly may also facilitate additional discounts and redeemable
Modes. For Policies on monthly mode the grace period would vouchers through such service provider, wherever available.
be 15 days. During this period your policy is considered to be Health Management Services are complimentary services in the
in force with the risk cover as per the terms & conditions of areas of prediction, prevention, diagnosis, treatment or recovery
the policy. which may include services such as medical consultation,
Loyalty Program Reward coaching, second opinion, personal medical case management
with the objective of health management and improvement.
If you are a member of the loyalty program administered by a
service provider empaneled by the Company, You shall be These services are subject to:
entitled to the Loyalty Program Reward upon the purchase of - the availability of a suitable service provider/s;
the policy and upon meeting the eligibility criteria. The loyalty - primary diagnosis (wherever applicable) has been done by
programs foster long-term customer relationship and offer a registered medical practitioner as may be authorized by a
redemption benefits through the service provider’s competent statutory authority;
eco-systems based on applicable terms and conditions. Such
reward shall accrue as percentage of the Annualized Premium - the eligibility conditions of the Life assured will be
or Single Premium (as applicable) and shall be made available determined as per the Company’s extant Underwriting
by the service provider to you in the form of benefits (points, Policy;
coins, etc.) in the first policy year by loyalty program service - the eligibility will be reviewed periodically, and changes
provider. The quantum of reward shall be determined by the shall apply without any discrimination to all existing and
Company’s extant policy and shall be disclosed in the new customers of the product.
Company’s website from time to time. - Whenever the eligibility criteria changes or the service is
The loyalty program rewards benefit shall be subject to the withdrawn, the same shall be communicated to all the
below: policyholders. Prior to effecting any changes, we shall
a) The availability of “Loyalty Program Reward” shall be inform the same to IRDAI; and
subject to the availability of suitable service provider(s). Note:
b) The Loyalty Program reward shall be directly provided by - These services are aimed at improving Policyholder
the service provider(s). The rights and liabilities of the engagement.
Policyholder/ Life Insured with respect to the Loyalty - These Value-added Services are completely optional for
Program, shall be governed by the terms and conditions the eligible Life Insured to avail.
applicable to loyalty program.
- For Life Assured availing such services, they are offered at
c) The Loyalty Program service is being provided by third no additional cost.
party service provider(s) and the Company shall not be
- The Premiums charged shall not depend on whether such
liable for such services.
a service(s) is offered or availed.
d) The liability of the Company is limited to the transfer of the
- The Life assured may exercise his/her own discretion to
value of the reward to the service provider, so empaneled.
avail the services.
e) The Company reserves the right to discontinue the service
or change the service provider(s) at any time and such - These services shall be directly provided by the service
changes shall be updated on the Company’s website provider(s).
(www.tataaia.com). - The services can be availed only where the Policy / rider is
f) The eligibility conditions including the quantum of reward in-force.
shall be determined as per the Company’s extant Policy - All the supporting medical records should be available to
and subject to change. Please refer our website avail the service.
(www.tataaia.com) for updated list of eligibility conditions, - We reserve the right to change the service provider(s) at
list of empaneled service providers, loyalty programs and any time.
the quantum of rewards. Any changes shall be applicable
prospectively. - The services are being provided by third party service
provider(s) and We will not be liable for any liability.
Health Management Services
Backdating
Eligible Life Insureds of Tata AIA Smart Pension Secure may
avail, Health Management Services from service provider(s) Backdating is not allowed in this plan.
associated with the Tata AIA Life Insurance Co. Ltd. The Insurer
31 32
Policy Loan DISCLAIMERS
Policy Loan is not allowed in this plan. • THE LINKED INSURANCE PRODUCT DO NOT OFFER
Exclusions ANY LIQUIDITY DURING THE FIRST FIVE YEARS OF THE
CONTRACT. THE POLICY HOLDER WILL NOT BE ABLE
In case of death due to suicide within 12 months from the date TO SURRENDER/WITHDRAW THE MONIES INVESTED IN
of commencement of the Policy or from the date of revival of LINKED INSURANCE PRODUCTS COMPLETELY OR
the Policy, the nominee or beneficiary of the Policyholder shall PARTIALLY TILL THE END OF THE FIFTH YEAR.
be entitled to fund value as available on the date of intimation
• Investments are subject to market risks.
of death.
• Unit Linked Life Insurance products are different from the
Any charges other than Fund Management Charge, recovered traditional insurance products and are subject to the risk
subsequent to the date of death shall be paid-back to the fund factors. Please know the associated risks and the
value as available on the date of intimation of death. applicable charges, from your Insurance agent or the
Tax Benefits Intermediary or policy document issued by the insurance
company.
Income Tax benefits would be available as per the prevailing tax
laws subject to fulfillment of conditions stipulated therein. • The various funds offered under this contract are the
Income Tax laws are subject to change from time to time. Tata names of the funds and do not in any way indicate the
AIA Life Insurance Company Ltd. does not assume quality of these plans, their future prospects and returns.
responsibility on tax implication mentioned anywhere in this The underlying Fund’s NAV will be affected by interest rates
and the performance of the underlying stocks
document. Please consult your own tax consultant to know the
tax benefits available to you. • The performance of the managed portfolios and funds is
not guaranteed and the value may increase or decrease in
Assignment accordance with the future experience of the managed
Assignment allowed as per provisions of Section 38 of the portfolios and funds. Past performance is not indicative of
Insurance Act 1938 as amended from time to time. future performance. Returns are calculated on an absolute
Nomination basis for a period of less than (or equal to) a year, with
reinvestment of dividends (if any).
Nomination allowed as per provisions of Section 39 of the
• The Company does not guarantee any assured returns.
Insurance Act 1938 as amended from time to time.
The investment income and price may go down as well as
Prohibition of Rebates - Section 41 - of the Insurance Act, up depending on several factors influencing the market.
1938, as amended from time to time • All Premiums, Charges, and interest payable under the policy
No person shall allow or offer to allow, either directly or are exclusive of applicable taxes, duties, surcharge, cesses
indirectly, as an inducement to any person to take out or renew or levies which will be entirely borne/ paid by the
or continue an insurance in respect of any kind of risk relating Policyholder, in addition to the payment of such Premium,
to lives or property in India, any rebate of the whole or part of charges or interest. Tata AIA Life shall have the right to claim,
the commission payable or any rebate of the premium shown deduct, adjust and recover the amount of any applicable tax
on the policy, nor shall any person taking out or renewing or or imposition, levied by any statutory or administrative body,
continuing a policy accept any rebate, except such rebate as from the benefits payable under the Policy.
may be allowed in accordance with the published • Medical Second Opinion/Personal Medical Case
prospectuses or tables of the Insurer. Management /Medical Consultation is available to eligible
and enrolled customers of Tata AIA Life Insurance. These
Notes
are optional services offered to you at no additional cost.
• The Company may alter all the above charges (except The eligibility of the Life Insured to avail these services shall
Mortality) by giving an advance notice of at least three be determined by the Company from time to time. You may
months to the policyholder subject to the prior approval of exercise your own discretion to avail the services and to
IRDAI and will have prospective effect. follow the treatment path suggested by the service
• The Mortality Charges will be guaranteed for the period of provider. These services shall be directly provided by the
the policy term. service provider. The services can be availed only where
policy/rider is in force. All the supporting medical records
should be available to avail the service. We reserve the right
to discontinue the service or change the service provider at
any time. The services are being provided by third party
service provider and Tata AIA Life Insurance Company Ltd
will not be liable for any liability.
33 34
• Some benefits are guaranteed and some benefits are
variable with returns based on future performance of your
insurer carrying on life insurance business. If your policy
offers guaranteed benefits then these will be clearly marked
“guaranteed” in the illustration table in the brochure. If your
policy offers variable benefits then the illustration in this
brochure will show two different rates of assumed future
investment returns. These assumed rates of return are not
guaranteed and they are not the upper or lower limits of
what you might get back as the value of your policy is
dependent on a number of factors including actual future
investment performance.
• The Premium paid in the Unit Linked Life Insurance Policies
are subject to investment risks associated with capital
markets and the NAVs of the units may go up or down
based on the performance of fund and factors influencing
the capital market and the Insured is responsible for his/her
decisions.
• Buying a life insurance policy is a long-term commitment.
An early termination of the policy usually involves high
costs and the Surrender Value payable may be less than
the total premiums paid.
• The brochure is not a contract of insurance. This brochure
should be read along with Benefit Illustration. The precise
terms and conditions of this plan are specified in the policy
contract available on Tata AIA Life website.
• Tata AIA Life Insurance Company Ltd. is only the name of
the Insurance Company and Tata AIA Smart Pension
Secure is only the name of the Unit Linked Life Insurance
Contract and does not in any way indicate the quality of the
contract, its future prospects or returns.
• Insurance cover is available under the Tata AIA products
and are underwritten by Tata AIA Life Insurance Company
Limited.
• 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 Company’s underwriting and
acceptance.

BEWARE OF SPURIOUS IRDAI or its officials do not involve in activities

PHONE CALLS AND like selling insurance policies, announcing
bonus or investment of premiums. Public
FICTITIOUS/
receiving such phone calls are requested to
FRAUDULENT OFFERS lodge a police complaint.

35 36