Gyan Kosh - Tata AIA

TATA AIA LIFE INSURANCE GYAN KOSH

BASIC DEFINITIONS

In this Policy:

“You” or “Your” means the policyholder of this Policy as shown in the Policy Information Page.

“We”, “Us”, or “Our” refers to Tata AIA Life Insurance Company Limited.

“Issue Date” or “Commencement Date” is the date when coverage under this Policy or its relevant Top-Up Sum Assured or Supplementary Contract takes effect. The Issue Date is shown on the Policy Information Page and the Commencement Date is the date of issue of any endorsement indicated in the relevant endorsement if the original terms and coverage of the Policy are changed subsequently. Commencement Date is also the approval date of revival of the Policy and/or its Top-Up Sum Assured or Supplementary Contract.

“Policy Date” as shown in the Policy Information Page is the date from which Policy Anniversaries, policy years, policy months and premium due dates are determined.

“Business Day” means a day on which Our corporate office is open for normal business transactions.

“Policy” means this contract of insurance.

“Notice Period” is 30 days from receipt of a notice sent by Us on non payment of premium which will be sent within 15 days from the date of expiry of the Grace period.

“Date of Payment of Premium” means the date the premium is received by Us.

“Date of Discontinuance of Policy” means the date on which the Notice Period expires after the due date of premium payment of the first unpaid premium or the date on which We receive an intimation from You, for the Discontinuance of the Policy, whichever is earlier.

“Discontinuance” means the state of the Policy that could arise on non-payment of due premiums before the expiry of the Notice Period as defined above or upon receipt of Your written request for Discontinuance.

“Discontinued Policy Fund” means the segregated fund that is set aside and is constituted by the fund value of all discontinued policies. “Proceeds of the Discontinued Policy” means the Total Fund Value as on the date the policy has discontinued, less the applicable discontinuance charges as on the date of discontinuance after addition of the interest earned and subject to a minimum guarantee of the interest, as applicable to savings bank accounts of State Bank of India.

“Lock-in Period” means a period of five consecutive years from the Commencement Date, during which the Proceeds of the Discontinued Policy will be set aside in the Discontinuance Policy Fund and paid out to You on completion of such period or in case of Death or on happening of any other contingencies covered under this Policy which ever is earlier.

“Revival” When the Premium remains unpaid at the end of the Grace period and subject to Discontinuance of Premium and Complete Withdrawal of Policy Provisions, the Policy can be revived, upon your request, with all benefits, with or without Supplementary contract benefits if any, after the receipt of all the premiums due and other charges if any, and upon being satisfied on Your continued

insurability on the basis of the information, documents and reports furnished.

“Policy Anniversary” refers to the same date each year as the Policy Date.

“Policy Monthly Date” refers to the same date of each month as the Policy Date.

“Maturity Date” of the Policy is shown in the Policy Information Page. Unless otherwise specified, the “Expiry Date” for a Supplementary Contract falls on the Policy Anniversary equal to the number of years for which premiums for the relevant Supplementary Contract are payable as shown in the Schedule of Benefits and Premiums of the Policy Information Page.

“Premium Year” is determined by the number of complete 12 months periods for which Regular Premium has actually been paid, excluding any period of Discontinuance of Premiums.

“Basic Sum Assured” is the guaranteed amount of the benefit that is payable on the death of the Insured under the Basic Policy.

The Basic Sum Assured when the Policy is issued is shown in the Policy Information Page. If the Basic Sum Assured is subsequently altered according to the terms and conditions of the Policy, the adjusted amount after such alteration as evidenced by an endorsement issued by Us to this effect will become the Basic Sum Assured.

“Top-Up Sum Assured” refers to the sum assured approved by Us to be added to the Basic Policy in respect of a Top-Up Premium.

“Nominee’’ is the person(s) nominated by You to receive the insurance benefits payable on the death of the Insured.

“Insured” means the person whose life is insured under the Policy as shown in the Policy Information Page.

“Regular Premium” of the Policy is shown in the Policy Information Page.

“Top-Up Premium” refers to unscheduled premium that You may pay into the Policy at any time after the Issue Date while the Policy is in force. It does not form part of the Regular Premium and is subject to Our rules and limits which may be revised at Our sole discretion from time to time.

“Fund” means a separately identifiable investment-linked fund set up and managed by Us for the purpose of achieving the objectives of the fund.

“Fund Value” has the meaning ascribed to it in the section ‘Fund Valuation’

“Regular Premium Fund Value” is equal to the number of Units under the Regular Premium Fund of this Policy multiplied by Unit Price on the relevant Valuation Date.

“Top-Up Fund Value” is equal to the number of Units under the Top-Up Fund of this Policy multiplied by the Unit Price on the relevant Valuation Date.

“Total Fund Value” is equal to the sum of the Regular Premium Fund Value and the Top-Up Fund Value if any under this Policy on the relevant Valuation Date.

“Valuation Date” refers to the date when the assets of the Fund are valued. The date shall be determined by Us from time to time.

“Unit” is a portion or a part of the underlying segregated Fund. The Fund shall be divided into shares of equal value called Units.

“Net Asset Value (NAV) per Unit” (also called “NAV per Unit or Unit Price”) is the value at which a Unit shall be debited from / credited to this Policy. The NAV per Unit or Unit Price at a Valuation Date is determined according to the Fund Valuation provisions.

"Appropriation Price” is the Unit Price that shall be applied when We are required to purchase assets to allocate Units at a Valuation Date.

"Expropriation Price” is the Unit Price that shall be applied when We are required to sell assets to redeem Units at a Valuation Date.

“Partial Withdrawals” means any part of a Fund that is encashed / withdrawn by You.

"Fund Management Charge” is a charge levied as a percentage of the value of assets and shall be appropriated by adjusting the Net Asset Value as prescribed in the Fund Valuation section of the Fund Provisions.

“Policy Charges” are the charges applicable to the Policy. The current charges on the Policy as on the Issue Date are set out in the Schedule of Policy Charges. We may add new charges and alter the charges and fees as shown in the said Schedule from time to time by giving advance notice of at least three (3) months and on prior clearance from the Insurance Regulatory and Development Authority.

"Supplementary Contract" refers to an additional agreement attached to and providing insurance benefits in addition to the Basic Policy.

“Total Permanent Disability” or “Disability” means the Insured’s total, permanent and continuous disability - where:

1) The Insured has continuously been absent from his employment for a period of at least 12 consecutive months as a result of disability, And

2) In Our opinion the Insured, despite optimal medical care/treatment and rehabilitation efforts, is unable ever again to work in: a) any occupation or regular duties for which he is reasonably qualified or fit by knowledge, training or experience; or b) any full time or part time occupation or regular duties in case the Insured was not in paid employment in the month immediately preceding the onset of disability, And

3) All usual and reasonable treatment and rehabilitation measures have been employed for a period of at least 12 consecutive months to restore or preserve the working ability of the Insured, And

4) For purpose of the definition of Total Permanent Disability, it is immaterial whether a business, occupation or regular duty generates income or is remunerated for or not.

In order for Us to determine for claim purposes the total and permanent character of the Insured’s Disability, it is mandatory that the Disability must be uninterrupted for at least 12 months from its date of commencement except in case of Presumptive Disability below where We immediately recognize the Disability as being total and permanent in nature.

"Presumptive Disability" means the occurrence of any of the following:-

(1) Total and irrecoverable loss of sight of BOTH eyes;

(2) Severance of TWO limbs at or above wrist or ankle; or

(3) Total and irrecoverable loss of sight of ONE eye and loss by severance of ONE limb at or above the wrist or ankle.

Interpretation: Whenever the context requires, the masculine form shall apply to feminine and singular terms shall include the plural.

BENEFIT PROVISIONS

Your basic Policy is known as Tata AIA Life Insurance GYAN KOSH. It is a Non-Participating Regular Premium Unit Linked Endowment Insurance Plan with the following two options to be chosen from, at inception and matures on the Maturity Date indicated on the Policy Information Page.

1) Security Net Option: Inbuilt Waiver of Premium benefit (WoP) and Inbuilt Family Income benefit (FIB). In case of Security Net Option, both Waiver of Premium Benefit & Family Income Benefit are inbuilt and hence mandatory. The charges towards these two benefits will be deducted by way of cancelling the units.

2) Safety Net Option: Inbuilt Waiver of Premium benefit (WoP)

In case of Safety Net Option, Waiver of Premium Benefit is inbuilt and hence mandatory. The charges towards this benefit will be deducted by way of cancelling the units.

The option chosen cannot be changed during the term of the policy.

Your basic Policy provides benefits subject to the following terms and conditions:

(1) Maturity Benefit – If the Insured is alive on the Maturity Date, We will pay to You the Total Fund Value of this Policy at the applicable Unit Price as specified in the section “Cut-off time for determining the appropriate valuation date”, plus the Guaranteed Maturity Addition as given below, if applicable.

(1.1) Guaranteed Maturity Addition – Provided the Maturity Benefit is payable under (1) above, a Guaranteed Maturity Addition at the Maturity Date will also be paid to You, as per the table below, provided all the Regular Premiums due under the Policy are paid.

Policy Term Guaranteed Maturity Addition (as % of Regular Premium Fund Value)

15-19 Years 1.5%

20 Years and above 3.0%

The above guaranteed maturity bonus will not be payable on the death/ total permanent disability of the Insured or Complete Withdrawal of the Policy or on the Top-Up Fund Value under the Policy or when Waiver of Premium Benefit/Family Income Benefit has been triggered anytime during the policy term.

The above percentage is guaranteed however the amount of maturity addition is not guaranteed and will depend on the Fund performance.

(2) Death Benefit – If the Insured dies while the Policy is in force and before the Maturity Date, We will pay to the Nominee:

Higher of

(i) Basic Sum Assured or

(ii) 105 percent of the total Regular Premium paid,.

Plus if You have a Top-up Fund Value,

Higher of

(i) The approved Top-Up Sum Assured(s) or

(ii) 105 percent of the total Top-up premium paid.

In addition to the above the policy benefits will continue as per one of the two options selected by you at the time of inception and cannot be changed during the Policy Term.

Security Net Option: Inbuilt Waiver of Premium benefit (WoP) & Inbuilt Family Income benefit (FIB).

In case of Security Net Option, both Waiver of Premium Benefit & Family Income Benefit are inbuilt and hence mandatory. The charges towards these two benefits will be deducted by way of cancelling the units.

a. Waiver of Premium (WoP) Benefit:

WoP benefit is paid in 2 options (to be chosen only at policy inception and cannot be changed during the Policy Term):

Family Guard: o We will pay 100% of the due Regular

Premium into the Basic Policy. Or

Family Advantage: o We will pay 50% of the due Regular

Premium into the Basic Policy. o The balance 50% of the due Regular

Premium amount shall be paid to the Nominee.

The first Regular Premium to be waived shall be the one falling due immediately after death of the insured till premium paying term. Regardless of the premium payment mode, the waiver of premium shall be effected as if the Policy was on a monthly premium mode.

All riders attached to the Policy, if any, shall terminate automatically.

During the period while the Regular Premiums are waived under this Benefit, all Policy Charges (except for mortality charge and waiver of premium charge) will be deducted as due.

No changes in investment related options such as fund switching, premium redirection, partial withdrawal, complete withdrawal etc under or in relation to the Policy will be permitted after the death of the Insured.

(b) Family Income Benefit (FIB):

If the Insured dies during the lifetime of this Policy, We shall pay one percent (1%) of the Basic Sum Assured, every policy month immediately succeeding after Death of the insured, to the nominee(s). Thereafter, We will continue to pay one percent (1%) of the Basic Sum Assured every month to the nominee(s) after the first installment until the earliest of the following conditions:-

(a) The sum of payments made reaches one hundred percent (100%) of the Basic Sum Assured. OR

(b) End of the Policy Term


During the period while the payments are made under this Benefit, all Policy Charges (except for Mortality Charge, Waiver of Premium and Family Income benefit charge) will be deducted as due.


Safety Net Option: Inbuilt Waiver of Premium benefit (WoP)

In case of Safety Net Option, Waiver of Premium Benefit is inbuilt and hence mandatory. The charges towards this benefit will be deducted by way of cancelling the units.

a. Waiver of Premium (WoP) Benefit:


Family Guard: o We will pay 100% of the due Regular

Premium into the Basic Policy. Or

Family Advantage: o We will pay 50% of the due Regular

Premium into the Basic Policy. o The balance 50% of the due Regular

Premium amount shall be paid to the Nominee.

The first Regular Premium to be waived shall be the one falling due immediately after death of the insured till premium paying term. Regardless of the premium payment mode, the waiver of premium shall be effected as if the Policy was on a monthly premium mode.


During the period while the Regular Premiums are waived under this Benefit, all Policy Charges (except for mortality charge and waiver of premium charge) will be deducted as due.


On expiry of the Policy term and provided the Policy has not been auto terminated we will pay the Total Fund Value of the Policy to the Nominee surviving at that time. In the absence of any nomination or surviving Nominees, payment will be made to Your legal heir(s). The term “Legal Heirs” is clarified as those persons who succeed to the estate of the deceased life assured as per the laws of succession applicable to the deceased life assured.

(2) Disability Benefit – If the Insured suffers from Total Permanent Disability as defined earlier, the benefits as per one of the two options selected by you at the time of inception will be applicable.

Security Net Option: Inbuilt Waiver of Premium benefit (WoP) & Inbuilt Family Income benefit (FIB).

In case of Security Net Option, both Waiver of Premium Benefit & Family Income Benefit are inbuilt and hence mandatory. The charges towards these two benefits will be deducted by way of cancelling the units.

(a) Waiver of Premium Benefit (WoP):

While this Policy is in force and subject to exclusions mentioned below, if the Insured suffers from Total Permanent Disability as defined above during his lifetime and before the Policy Anniversary immediately following Insured’s sixty fifth (65th) birthday, the company will waive the due Regular Premiums of the Basic Policy.


Family Guard:

o We will pay 100% of the due Regular Premium into the Basic Policy.

Or

Family Advantage: o We will pay 50% of the due Regular Premium

into the Basic Policy. o The balance 50% of the due Regular Premium

amount shall be paid to the Nominee.

The first Regular Premium to be waived shall be the one falling due immediately after commencement of Total Permanent Disability. Due Regular Premiums will be waived for as long as the insured remains such disabled within premium paying term. Regardless of the Policy’s modal premium, the Waiver of Premium shall be affected as if the Policy were on a monthly premium mode.

All riders attached to the Policy, if any, shall terminate automatically upon admission of a claim for this Disability Benefit. However, the riders can be reinstated if the WoP benefit is stopped. (i.e. only after the Insured does not remain disabled)

During the period while the Regular Premiums are waived under this Benefit, all Policy Charges including the Mortality charge (except waiver of premium charge), will be deducted as due. Apart from fund switching, premium re-direction, partial withdrawal and complete withdrawal, no changes under or in relation to the Policy will be permitted during the period that Regular Premiums are waived.

2. Family Income Benefit (FIB):

While this Policy is in force and subject to exclusions mentioned below if the Insured suffers from Total Permanent Disability as defined above during the term of policy, We shall pay one percent (1%) of the Basic Sum Assured every policy month immediately succeeding after the date of commencement of Total Permanent Disability. Thereafter, while the Insured continues suffering Total Permanent Disability, We will pay one percent (1%) of the Basic Sum Assured for every month of continuous Total Permanent Disability to the Insured after the first instalment, until the earliest of the following conditions:-

(a) The sum of payments made reaches one hundred percent (100%) of the Basic Sum Assured. OR

(b) The Insured no longer suffers from Total Permanent Disability or fails to provide satisfactory proof of continuous Total Permanent Disability. OR

(c) End of the policy term

All riders attached to the Policy, if any, shall terminate automatically upon admission of a claim for this Disability Benefit. However, the riders can be reinstated if the FIB benefit is stopped (i.e. only after the insured does not remain disabled).

During the period while the payments are made under this Benefit, all Policy Charges (including mortality charge but excluding Waiver of Premium Charge and Family Income benefit charge) will be deducted as due.

Apart from fund switching, premium re-direction, partial withdrawal and complete withdrawal, no changes under or in relation to the Policy will be permitted during the period that Regular Premiums are waived. Safety Net Option: Inbuilt Waiver of Premium benefit

(WoP)

(a) Waiver of Premium Benefit (WoP):

While this Policy is in force and subject to exclusions mentioned below, if the Insured suffers from Total Permanent Disability as defined above during his lifetime and before the Policy Anniversary immediately following Insured’s sixty fifth (65th) birthday, the company will waive the due Regular Premiums of the Basic Policy.


Family Guard: o We will pay 100% of the due Regular Premium

into the Basic Policy. Or

Family Advantage: o We will pay 50% of the due Regular Premium

into the Basic Policy. o The balance 50% of the due Regular Premium

amount shall be paid to the Nominee.

The first Regular Premium to be waived shall be the one falling due immediately after commencement of Total Permanent Disability. Due Regular Premiums will be waived for as long as the insured remains such disabled within premium paying term. Regardless of the Policy’s modal premium, the Waiver of Premium shall be affected as if the Policy were on a monthly premium mode.

All riders attached to the Policy, if any, shall terminate automatically upon admission of a claim for this Disability Benefit. However, the riders can be reinstated if the WoP benefit is stopped. (i.e. only after the Insured does not remain disabled)

During the period while the Regular Premiums are waived under this Benefit, all Policy Charges including the Mortality charge (except waiver of premium charge), will be deducted as due. Apart from fund switching, premium re-direction, partial withdrawal and complete withdrawal, no changes under or in relation to the Policy will be permitted during the period that Regular Premiums are waived.

Exclusions:

Waiver of Premium/Family Income Benefit shall not cover any Total Permanent Disability caused directly or indirectly, wholly or partly, by any of the following occurrences:

1. assault or attempt to murder;

2. riot and civil commotion, industrial action or terrorist activity;

3. war, declared or undeclared, or revolution;

4. service in the armed forces in time of declared or undeclared war or while under orders for warlike operations or restoration of public order;

5. Self destruction or attempted self-destruction or self-inflicted injuries while sane or insane;

6. entering, exiting, operating, servicing, or being transported by any aerial device or conveyance except when the Insured is a fare-paying passenger on a commercial passenger airline on a regular scheduled passenger trip over its established passenger route;

7. any congenital defect which has manifested or was diagnosed before the Insured attains 17 years of age.

8. in our opinion the Insured was suffering from Acquired Immuno-Deficiency Syndrome (AIDS) or infection by any Human Immuno-Deficiency Virus (HIV).

For the purpose of this Policy:-

(i) The definition of AIDS shall be that used by the World Health Organization in 1987, or any subsequent revision by the World Health Organization of that definition.

(ii) Infection shall be deemed to have occurred where blood or other relevant test(s) indicate in the opinion of the Company either the presence of any Human Immunodeficiency Virus or Antibodies to such a Virus.

9. deliberate act(s) of You, Nominee or Insured;

10. violation or attempted violation of the law or resistance to arrest;

11. Any general exclusions mention under this Basic Policy.

No benefit will be provided for Total Permanent Disability resulting from a physical or mental condition of the Insured which existed before the Issue Date or Commencement Date of the Policy which was not disclosed in the Application or health statement.

During the period while the Regular Premiums are waived under this Benefit, if Insured dies then the company will pay to the Nominee(s) the Death benefit as mentioned above, following Our receipt and approval of written notice and due proof of death. After which, the company will stop deducting the mortality charge. Benefits under the policy will continue as mentioned in “Waiver of Premium Benefit” and/or “Family Income Benefit” section under “Death Benefit”.

On maturity of the Policy, the company will pay the Total Fund Value (regular premium fund value and top up premium fund value) of the Policy.

GENERAL PROVISIONS

THE POLICY CONTRACT

This Policy is made in consideration of Your proposal and payment of the required premium. The Policy, proposal for it, Supplementary Contract if any, the Policy Information Page and the latest of any attached endorsements constitute the entire contract. The terms and conditions of this Policy cannot be changed or waived except by endorsement duly signed by Our authorized officer.

Your Policy consists of the basic insurance plan, the Supplementary Contract if any and any endorsements which may be attached to it. The plan name of the basic Policy and the product and/or code names are shown under the Schedule of Benefits and Premiums of the Policy Information Page.

SUICIDE

In case of death due to suicide by the Insured, whether sane or insane, within one year from the Issue Date or Commencement Date, Our liability shall be limited to the Total Fund Value of this Policy at the applicable Unit Price as specified in the section “Cutoff time for determining the appropriate valuation date” under Fund Provisions.

INCONTESTABILITY

Except for fraud or non-payment of premiums and subject to the Misstatement of Age clause and also as provided under section 45 of the Insurance Act, 1938, this Policy shall be incontestable after it has been in force during the lifetime of the Insured for two years from the Issue Date, or Commencement Date, whichever is later.

MISSTATEMENT OF AGE

This Policy is issued at the age of the Insured shown on the Policy Information Page which is the Insured’s declared age at last birthday in the Application. Subject to Section 45 of the Insurance Act 1938, if the age is misstated, the Basic Sum Assured and Top-Up Sum Assured shall be revised to what would have been allowed by Us at the correct age of the Insured, provided the revised Basic Sum Assured and Top-Up Sum Assured is no higher than the original. Any revision to a higher Basic Sum Assured and Top-Up Sum Assured for reason of misstated age is subject to Our approval at Our sole discretion; and such revision will not be approved if the understated age is found at the time of a claim. The Mortality Charge would be revised according to the revised Basic Sum Assured and Top-Up Sum Assured as allowed by Us at the correct age of the Insured. Any undercharged

Mortality Charge, without interest, will be debited in Units at Unit Price.

If at the correct age the Insured is not insurable under this Policy or any of its Supplementary Contract pursuant to Our Underwriting rules, then subject to Section 45 of the Insurance Act 1938 the Policy shall be void and We will release the current Total Fund Value, after deducting all payments made under the Policy or the relevant Supplementary Contract if any.

The relevant Sum Assured to be adjusted as above is before deduction of partial withdrawals made, if any.

CURRENCY AND PLACE OF PAYMENT

All amounts payable either to or by Us will be paid in the currency shown on the Policy Information Page. Such amounts will be paid by a negotiable bank draft or cheque drawn on a bank or NEFT (National Electronic Funds Transfer) or electronic clearing systems in the country in which the currency of this Policy is denominated. All amounts due from Us will be payable at Our office shown on the Policy Information Page.

FREEDOM FROM RESTRICTIONS

Unless otherwise specified, this Policy is free from any restrictions upon the Insured as to travel, residence or occupation.

TERMINATION

All coverage under this Policy shall automatically terminate on the occurrence of the earliest of the following:

(1) If the Basic Policy matures; or is completely withdrawn; or

(2) In case of discontinuance of Premiums where option of complete withdrawal from the policy has been exercised or no option has been exercised within the stipulated time; or

(3) The Total Fund Value (Regular plus Top up) is insufficient to recover charges, the policy will terminate and the balance fund value becomes payable on completion of lock – in period.

FREE LOOK PERIOD

If You are not satisfied with the terms & conditions/features of the policy, You have the right to cancel the Policy by giving written notice to Us and You will receive the premiums invested into the funds at Unit Price as at the date of cancellation along with the charges paid after deducting (a) for proportionate risk premium for the period of cover (b) medical examination costs, if any and (c) stamp duty, which has been incurred for issuing the Policy. Such notice must be signed by You and received directly by Us within 15 days after You or person authorized by you receives the Policy.

CLAIM PROCEDURES

Notice of Claim – All cases of death must be notified immediately to Us not later than 20 days after the date the insured event happens.

Filing Proof of Claim – Affirmative proof of loss and any appropriate forms as required by Us must be completed and furnished to Us, at the claimant’s expenses, within 90 days after the date the insured event happens, unless specified otherwise. A list of primary claim documents listing the normally required documents is attached as an Annexure to the Policy. Submission of the listed documents, forms or other proof, however, shall not be construed as an admission of Our liability.

We may require any additional proof and documents in support of the claim.

Medical Examination - We may request medical examination of the Insured. In case of death, We may require an autopsy.

Proof of Continuing Loss – In the case of Disability or other losses as We deem appropriate, We will require, at reasonable intervals, proof of continuing Disability or loss. If such proof is not submitted as required or such Disability or loss ceases, claims for such Disability or loss will not be considered. TAXES

Service tax is applicable as per governing laws and the same shall be borne by You. We may recover from You, (including by deducing from the Fund Value), any levies and duties (including service tax), as imposed by the government from time to time.

UNIT STATEMENTS

Unit statements will be provided to You periodically and shall form a part of the Basic Policy.

PLAN CHANGE

Change of plan is not allowed.

CHANGE IN SUM ASSURED

During the Policy Term You can increase the Sum Assured by adding Top-Up Premiums which offers additional Sum Assured in the range of 1.25/2.5 /5/10 times of the Top-Up Premium for entry age below 45 years and 1.10/2.5 /5 /10 times of the Top-Up Premium for entry age 45 years and above. The additional Sum Assured can be granted subject to then prevailing underwriting rules and conditions and Our approval and is applicable from the next Policy Monthly Date.

You have an option to increase or decrease the Basic Sum Assured (applicable from the next Policy Anniversary) and Top-up Sum Assured (applicable from the next Policy Monthly Date) by changing the premium multiple and top up premium multiple respectively, during the Policy Term, subject to prevailing underwriting rules and is subject to the minimum Basic Sum Assured/Top-up sum assured allowed under this product as per ULIP guidelines respectively.

Change in Sum Assured is not allowed during disability benefit period.

THE POLICYHOLDER

You are the policyholder and beneficiary of this Policy as shown on the Policy Information Page until changed. Only You can, during the Insured’s lifetime, exercise all rights, privileges and options provided under this Policy subject to any assignee’s rights.

NOMINEE

The Nominee is named in the application and in the Policy Information Page unless subsequently changed. If a Nominee dies before the Insured, the payable benefits will be made to the surviving Nominee. If no nomination has been made, or all Nominees die before the Insured, the payable benefits will be made to Your legal heir(s) or legal representative. The term “Legal Heirs” is clarified as those persons who succeed to the estate of the Insured as per the laws of succession applicable to the Insured.

In the event of death of the Insured whilst the Nominee is a minor, the money secured by the Policy shall be received by the appointee as named in the application unless subsequently changed.

The Nominee will not have any rights such as Surrender, Partial Withdrawal, Complete Withdrawal, Fund Switching, and Premium Redirections, except, to receive the benefits available under the Policy.

CHANGE OF NOMINEE/APPOINTEE AND ASSIGNMENT

While this Policy is in force, You may change the Nominee/Appointee by giving a written notice to Us. Such change is

valid only if recorded by Us during the lifetime of the Insured and endorsed on this Policy.

In the event that the original Nominee/Appointee is changed, the money secured by the policy shall be paid to the changed Nominee/Appointee.

You may assign this Policy before the Maturity Date, by filing a written notice satisfactory to Us. Unless the original or duplicate copy of this Policy and assignment is given to Us, and We are not notified of such assignment, You will continue to be the policyholder for all purposes. Such change is valid only if the Assignment is recorded by us during the lifetime of the Insured and endorsed on this Policy.

We assume no responsibility for the sufficiency or validity of the nominee/appointee and assignment.

PREMIUM PROVISIONS

REGULAR PREMIUM

All Regular Premiums are payable on or before their due dates to Us either at Our issuing office or to Our authorized officer or cashier. The premium shall be paid in the currency stated in the Policy Information Page.

Regular Premiums received are subject to Regular Premium Allocation Charge if any, as set out in the Schedule of Policy Charges.

Subject to Our minimum premium requirements and approval, Regular Premium may be paid on annual, semi-annual, quarterly and monthly mode.

TOP-UP PREMIUM

After the Issue Date and while the Policy is in force, and subject to Our rules and limits and availability of the relevant Fund(s), You may apply to pay into this Policy at any time Top-Up Premium at Your specification on each of such payment. Each Top-Up Premium shall not be less than the then ruling minimum amount (currently set as Rupees Five thousand (`5,000)) as required by Us and no more than four (4) Top-Up Premiums will be accepted in each Policy Year. Every Top-up premium shall have a lock in period of five years from the date of acceptance of that Top-up premium. Top-up is not allowed during the last five years of the contract.

Every Top-Up Premium shall have an additional Sum Assured. The Top-Up Sum Assured can be 1.25/2.5 /5 /10 times of the Top-Up Premium, for entry age below 45 years and 1.10/2.5 /5 /10 times of the Top-Up Premium for entry age 45 years and above. You have an option to increase or decrease the Top-up Sum Assured by changing the Top-up premium multiple; subject to prevailing underwriting rules and is subject to the minimum Top-up sum assured allowed under this product as per ULIP guidelines respectively.

Top-Up Premium will not be effected unless and until the Top-Up Sum Assured has been underwritten and approved by Us. We may refuse the Top-Up Premium, to determine the acceptable amount and/or conditions of Top-Up Premium, depending on our underwriting decision, rules of minimum premium amounts and limits etc, at Our sole discretion. We shall return any un-approved Top-Up Premium applied for.

Top Up Premiums are not allowed after death of the Insured.

Top-Up Premiums are not allowed during the Disability Benefit period.

Payment of Top-Up Premiums is subject to Top-Up Premium Allocation Charge as set out in the Schedule of Policy Charges.

We may revise the applicable rules and limits from time to time. We may also limit the frequency of or may stop accepting Top-Up Premium by sending a three (3) months prior written notice to You and on prior clearance from the Insurance Regulatory and Development Authority.

PAYMENT AND CHANGE

You may change the frequency of the Regular Premium payments by giving a written request to Us at any time when the Policy is in force, unless SMART has been opted for, where Annual mode is compulsory. Subject to Our minimum premium requirements and approval, premiums may be paid on an annual, semi-annual, quarterly or monthly mode.

Premiums payable monthly shall be paid by auto-deduction through a bank, unless We agree otherwise in writing. If such arrangement ceases for whatever reason, We will stop accepting monthly interval of premium payment and the Policy will be automatically converted to quarterly mode. Any outstanding balance of the quarterly premium will become due immediately for payment. Change in premium is not allowed.

DEFAULT

After payment of the first Regular Premium, failure to pay a subsequent Regular Premium on or before its due date will constitute a default in premium payment.

GRACE PERIOD

A grace period of fifteen days for monthly mode and thirty days for all other modes, from the due date (the “Grace Period”) will be allowed for all subsequent Regular Premium payments. The Policy will remain in force during the Grace Period. If any Regular Premium remains unpaid at the end of its Grace Period, the Policy will be subject to the Discontinuance Of Premium Provisions.

DISCONTINUANCE OF PREMIUM WITHIN FIVE YEARS FROM INCEPTION Where a Regular Premium due before the fifth policy anniversary remains unpaid at the end of the Grace Period, You will be entitled to exercise one of the following options: a) To revive the Policy or b) Complete withdrawal from the Policy without any risk cover You are required to exercise either of the above options within the Notice Period, failing which You shall be deemed to have exercised option (b) above. If You exercise the option (a) i.e. to revive the policy, the policy will remain in force and all applicable charges as set out in the ‘Schedule of Policy Charges’ will continue to be deducted. If You exercise option (b) i.e. Complete Withdrawal from the Policy without any risk cover or do not exercise any option, within the Notice Period, the Total Fund Value after deduction of the Discontinuance Charge as on Date of Discontinuance shall be credited to the Discontinued Policy Fund. The “Proceeds of the Discontinued Policy” shall be refunded, at the end of Lock-in period of five years from the inception of the Policy. You can revive the Policy within two years from the date of discontinuance but, not later than the expiry of Lock-in Period, You may do so by paying all the overdue premiums. We may require you to provide (i) a written application for revival; and / or (ii) production of Insured’ s current health certificate and / or other evidence of insurability. Subject to Us being satisfied as to Your continued insurability on the basis of the information, documents and reports furnished by You. Discontinuance Charges deducted shall be added to the Fund Value on the date of such revival. Upon revival the Policy will be reinstated and all applicable charges will continue to be deducted.

In case of death during the period the policy is in discontinuance, the “Proceeds of the Discontinued Policy” shall be payable immediately. From the expiry of the Grace Period, till You exercise the option or till the expiry of notice period whichever is earlier, the Policy is deemed to be in force and the risk cover will continue. During this period Mortality charge, Fund Management charges and Policy Administration Charges will be deducted as due. In case of death during this period, the death benefit as mentioned under Benefit Provisions shall be payable immediately on death.

DISCONTINUANCE OF PREMIUM AFTER PAYING ATLEAST FIVE CONSECUTIVE YEARS PREMIUM

After payment of at least five complete years of Regular premium, if Regular Premium due remains unpaid at the end of the Grace Period, You will be entitled to exercise one of the following options:

a. To revive the policy or

b. Complete withdrawal without any risk cover

You are required to exercise either of the above options within the Notice Period. If You do not exercise the option within stipulated period, option (b) above shall deemed to have been exercised.

If You exercise option (b) or do not exercise any option within the Notice Period as mentioned above, the Total Fund Value shall be refunded.

If You exercise the option (a) which is to revive the policy, You may do so by paying all the overdue premiums. We may require you to provide (i) a written application for revival; and / or (ii) production of Insured’ s current health certificate and other evidence of insurability. Subject to Us being satisfied as to Your continued insurability on the basis of the information, documents and reports furnished by You, Your Policy will remain in force and all applicable charges will continue to be deducted.

From the expiry of the grace period, till You exercise the option or till the expiry of Notice Period whichever is earlier, the Policy is deemed to be in force and the risk cover will continue. During this period Mortality Charge, Waiver of Premium Charges, FIB Charge (if applicable), Fund Management Charge and Policy Administration Charge will be deducted as due. In case of death during this period, the death benefit as mentioned under Benefit Provisions shall be payable immediately. In case of Total Permanent disability during this period, the disability benefit as mentioned under Benefit Provisions shall be payable immediately.

LOAN

No loan is available under this Policy.

FUND PROVISIONS

INVESTMENT POWER

The selection of the underlying investments of each Fund established by Us will be determined by Us from time to time according to the investment objectives of such Fund as stated in the Schedule of Fund. This may include, but not limited to, deployment of monies of the Fund in short term investment vehicles (such as deposits of scheduled commercial banks, cash or call deposits etc.) which may or may not earn any income.

FUND VALUATION

The value of each Fund (the “Fund Value”) specially created by Us shall be determined by Us on daily basis on all Business Days under normal circumstances. However, We may value each Fund less frequently if trading in any Stock Exchange in which the Fund is invested is suspended so as to make it impossible to value the Fund daily.

The Fund’s liabilities shall consist of accrued and unpaid investment expenses incurred by the Fund such as taxes and stamp duties, registration fees, legal, auditing and custodian fees, stock brokers’ and estate agents’ commissions incurred in the sales or purchases of assets, insurance costs and expenses incurred in the management and maintenance of the Fund and expenses incurred to ensure compliance with statutory and regulatory requirements relating to the Fund. It also includes any Fund Management Charge chargeable to the Fund.

Fund Value of a particular fund is arrived at by multiplying the number of Units in that particular Fund by the Unit Price of that particular Fund on the relevant Valuation Date.

NET ASSET VALUE AND UNIT PRICING When We are required to purchase assets to allocate Units or sell assets to redeem Units at a Valuation Date, the Net Asset Value, NAV per Unit or Unit Price is determined in the following method: NAV (Net Asset Value) = (Market Value of Investment held by the Fund) + (Value of Current Assets) – (Value of Current Liabilities & Provisions, if any) NAV per Unit or Unit Price = NAV / Total number of Units existing on Valuation Date (before creation/redemption of Units)

FUND ADDITION

We may add additional Funds from time to time with prior clearance from Insurance Regulatory and Development Authority, from which the benefits payable under this Policy shall be determined. All the relevant provisions of this Policy relating to the Fund shall apply, as appropriate, to such additional funds unless specified by Us in writing.

FUND CLOSURE

We may at any time cease to allow the allocation of premiums or any fund switching to any Fund. We will send a three (3) months prior written notice of Our intention to close a Fund with prior clearance from Insurance Regulatory and Development Authority.

PREMIUM ALLOCATION

Regular Premiums and Top-Up Premiums received after deducting the Premium Allocation Charge / Top-Up Premium Allocation Charge as applicable, will be invested into the Fund according to Your instruction of premium allocation. Units thus purchased by Regular Premium and Top-Up Premium will be credited to the Regular Premium Fund and Top-Up Fund of the Policy respectively.

You may give Us a notice in writing to change the premium allocation (Premium Re-direction) for Regular Premium unless SMART or Automatic Asset Allocation has been opted for. The change will be effected on the next premium allocation following Our approval. No Premium Re-direction Charge is payable.

The premium allocation or Premium Re-direction shall be in whole integer percentage and if more than one Fund is involved, the sum of the allocations shall add up to one hundred (100) percent.

Your instructions for premium allocation or premium re-direction are subject to the availability of the relevant Fund and Our rules for such allocations and approval.

CREDIT/DEBIT OF UNITS

The premiums received, after deducting the payable Premium Allocation Charge/ Top-Up Premium Allocation Charge (as described in the Schedule of Policy Charges) will be used to purchase Units at the Unit Price according to Your instructions for allocation of premium. Units purchased by Regular Premium and Top-Up Premium, net of payable Policy Charges, will be deposited into the Regular Premium Fund and Top-Up Fund respectively.

Where notice is required (Partial Withdrawal, Complete Withdrawal or death of the Insured), Units being debited shall be valued by reference to their Unit Price as specified in the section “Cut-off time for determining the appropriate valuation date” under Fund Provisions.

FUND SWITCHING

You may send Us a written request to switch investment between available Funds. The written request must specify the Fund(s) in which Units are to be redeemed and the Fund(s) in which Units are to be allocated, subject always to the satisfaction of Our rules for switching applicable from time to time.

The first twenty four (24) switches in any one Policy Year will be processed without a switching fee, but any further switches will be processed at the Fund Switching Charge specified in the Schedule of Policy Charges, which may be amended by Us from time to time and the same shall be binding on You.

Any such request will be effected on the applicable Unit Price as specified in the section “Cut-off time for determining the appropriate valuation date” under Fund Provisions.

SYSTEMATIC MONEY ALLOCATION & REGULAR TRANSFER (SMART)

Provided the Policy is in annual payment mode, You may apply for the Systematic Money Allocation & Regular Transfer (SMART) arrangement to switch from one Fund (Accumulation Fund) to another Fund (Target Fund) under the Regular Premium Fund on a monthly basis automatically. At any time, only one Fund each can be designated as the Accumulation Fund and the Target Fund, out of all other available funds, subject to the following rules:

Under the SMART arrangement, the entire annual allocable Premium received as due along with existing units will be automatically allocated to the Accumulation Fund.

Once opted, the SMART shall continue throughout the Policy Term or until the Policy terminates or any period where Discontinuance of Premium Provisions applies, whichever is the earlier. Systematically, a part of the total Units of the Accumulation Fund in the Regular Premium Fund will be switched automatically into the selected Target Fund in the Regular Premium Fund at the beginning of every Policy Month during one Policy Year in following manner:

Policy Month 1 1/12 of the Units available at the beginning of Policy Month 1




Policy Month 12 Balance of Units available at the beginning of Policy Month 12

SMART can be availed at your option, exercisable at Policy inception or on any Policy Anniversary. You shall apply to commence, change or restart the SMART by giving a written request at least 30 days before a Policy Anniversary. The request, if accepted by Us, shall take effect on the following Policy Anniversary. You may stop SMART by a written request at any point in time and it shall take effect from the next SMART switching that follows Our receipt and approval.

Switching of funds (Accumulation Fund and Target Fund) on which SMART is active is not allowed. Switching of funds is however allowed on other available funds. You may still switch funds under the Top-Up Fund while SMART operates, subject to Our rules, limits and charges as for normal Fund Switching. Fund switches made under the

SMART or otherwise, will be subjected in aggregate to Our rules and limits of maximum free switches and applicable fund switching charges.

We may refuse request for this option or cease offering this option by giving 30 days of written notice subject to prior approval of Insurance Regulatory and Development Authority.

The “Accumulation Fund” and “Target Fund” are not segregated funds offered under this product but are the names used to reflect the investment strategy under the “SMART”.

SMART would not be available where Automatic Asset Allocation has been opted and is in force.

SMART is free of any charge.

AUTOMATIC ASSET ALLOCATION (AAA)

Under the Automatic Asset Allocation arrangement, the Units held in the designated Automatic Asset Allocation Funds will be redistributed on the Policy Quarterly Anniversary in accordance with Your age, subject to the clause below, by switching of Funds, to maintain specified allocation of the Fund Value existing in the designated Asset Allocation Fund accounts, as mentioned in the table below. We may redistribute the Units in the designated Automatic Asset Allocation Funds in ten (10) instalments in the last ten (10) quarters immediately preceding the Maturity Date. However manual fund switching is available on the other funds other than the designated Asset Allocation Funds.

For all age-dependant features, the revision to your age will be effected on the annual anniversary of your policy following your birthday and not on your actual birthday

Automatic Asset Allocation Table: Fund allocation details at policy inception and during policy term

Age Band [lbd]^

Large Cap Equity Fund

Whole Life Income Fund

18 – 25 85% 15% 26 – 30 80% 20% 31 – 35 75% 25% 36 – 40 70% 30% 41 – 45 65% 35% 46 – 50 60% 40% 51 – 55 55% 45% 56 – 60 50% 50% 61 – 65 45% 55%

^ The age band refers to the age last birthday

The redistribution does not attract any Fund Switching Charge and is not subject in aggregate to Our usual rules and limits of maximum free switches.

The designated Automatic Asset Allocation Funds allowed are:

• Large Cap Equity Fund • Whole Life Income Fund

The Automatic Asset Allocation can be chosen for both Regular Premium and Top-Up Premium Funds. A separate service request would be required by Us, if You wish to apply for Automatic Asset Allocation on Top-Up Premium Fund.

Provided the Systematic Money Allocation & Regular Transfer (SMART) is not affected or in operation, You may opt for the Automatic Asset Allocation at inception of the Policy or any Policy Anniversary thereafter. If opted at Issue Date, this option will be shown in the Policy Information Page. To affect the Automatic Asset Allocation after the Issue Date, You shall give Us a written request at least 30 days before a Policy Anniversary. The request, if accepted by

Us, shall take effect on the following Policy Anniversary. This Automatic Asset Allocation shall cease automatically when the Systematic Money Allocation & Regular Transfer (SMART) comes into operation or until the Policy goes in Discontinuance or terminates, whichever is the earlier.

You may opt out of the effected Automatic Asset Allocation by giving Us a written request at any point of time, and once opted out will be with immediate effect. You can opt for Automatic Asset Allocation, by giving Us a 30 day written notice. Once chosen will be applicable from the next Policy Anniversary following Our approval.

We may refuse Your request for Automatic Asset Allocation, or may cease offering it by giving 30 days of written notice, subject to prior approval from Insurance Regulatory and Development Authority.

Automatic Asset Allocation would not be available where SMART has been opted and is in force.

Automatic Asset Allocation is free of any charge.

PARTIAL WITHDRAWAL OF FUND VALUE

After the Policy has been in force for at least Sixty (60) months from the Policy Date and provided the Policy is revived in case of discontinuance of premiums, a part of the Regular Premium Fund Value may be withdrawn.

Partial Withdrawal from the Top-Up Fund can be made provided the relevant Top-Up Premium has been credited to the Policy no less than Sixty (60) months ago from the date of the Partial Withdrawal request.

The Partial Withdrawal shall be made by giving a written notice to Us specifying the amount or number of Units and the Funds from which Units are to be withdrawn, subject to Our rules for Partial Withdrawal and approval. The Partial Withdrawal amount payable is equal to the number of Units to be withdrawn multiplied by the applicable Unit Price of the relevant Fund as specified in the section “Cut-off time for determining the appropriate valuation date” under Fund Provisions. A maximum of up to four (4) Partial Withdrawals are allowed for each Policy Year.

No Partial Withdrawal will be allowed if the Partial Withdrawal amount payable is less than Rupees Five Thousand (`5,000/-) or the remaining Total Fund Value is such that the value of the remaining Units after such withdrawal is less than an amount equivalent to one Annualised Regular Premium (as defined in the Schedule of Policy Charges).

Partial Withdrawals shall be allowed first from the Top-Up Fund before You are allowed to withdraw from the Regular Premium Fund subject to fulfilling the rules governing such Partial Withdrawals as described above.

You can make partial withdrawals during disability benefit period subject to partial withdrawal rules.

Partial withdrawals are not allowed to Nominee(s) after death of the Insured

Our approval will be required for Partial Withdrawals under the exceptional circumstances as mentioned in this Policy.

We may alter the rules for Partial Withdrawal, on prior clearance from the Insurance Regulatory and Development Authority.

There are no partial withdrawal charges.

COMPLETE WITHDRAWAL OF THE POLICY (a) Complete withdrawal of a premium paying policy within five policy years: Upon Your request, Policy can be completely withdrawn during lock-in period of 5 years. On complete withdrawal of the policy, the surrender value i.e. the Total Fund Value less applicable discontinuance charges as on the date of Complete Withdrawal, shall be credited to the Discontinued Policy Fund maintained by Us. The “Proceeds of the Discontinued Policy” shall be paid to You only after completion of the lock-in period. The risk cover will cease on the date of Complete Withdrawal. Policyholder can revive the policy within two years from the date of complete withdrawal, but, not later than the expiry of lock in period subject to: (i) written application for revival; (ii) production of Insured’s current health certificate and/or other evidence of insurability satisfactory to Us, if required (iii) payment of all overdue Regular Premiums. Discontinuance Charges deducted shall be added to the fund value on the date of such revival. Upon revival the Policy will be reinstated and all applicable charges will continue to be deducted. In case of death when the Policy is in Discontinuance the “Proceeds of the Discontinued Policy” shall be payable immediately. (b) Complete withdrawal of a premium paying policy after five policy years: Upon complete withdrawal of the policy after five policy years, the Total Fund Value as on the date of complete withdrawal, shall be payable. Completely Withdrawn Policy under clause (b) cannot be revived under any circumstances.

SETTLEMENT OPTION

Provided that the Insured is alive on the Maturity Date, You have an option to receive Your maturity benefit either in lump sum or in the form of periodical payments over a certain period of time (termed as “Settlement Period”) provided that such period shall not exceed five years from the Maturity Date. The frequency of periodical payments shall be chosen by You at time of exercising this option. The value of such periodical payments will depend on the performance of the Funds selected by You for investment. Switching and Partial Withdrawal (other than the aforesaid periodical payments) are not available during the Settlement Period. At any time during the settlement period You will have the option to withdraw the Fund Value

During this Settlement Period, no life or other insurance cover will be provided and upon your death, We shall return the Fund Value of the selected Funds to the Nominee according to the Nominee provisions under the Ownership Provisions of the Policy. In the absence of a valid nomination or any surviving Nominee as of the time such Fund Value is due, payment shall be made to Your legal heirs or legal representatives. However, the value of such periodical payments will depend on the performance of the Funds selected by You.

Your investment during the Settlement Period is no longer considered a maturity benefit.

During this Settlement Period the Fund Management Charge and Policy Administration Charge will be deducted as per the Schedule of Policy Charges and the inherent investment risk will be borne by You.

CUT-OFF TIME FOR DETERMINING THE APPROPRIATE VALUATION DATE

The appropriate Valuation Date at which Unit Price will be used to purchase or redeem Units shall be determined in the following manner:-

(1) Purchase & Allocation of Units in respect of premiums received or Fund Value(s) switched in:

(a) If premiums are received up to 3:00p.m. of a business day, by Us through cash, local cheque or a demand draft payable at par at the place where the premium is received the closing NAV of the day on which premium is received shall be applicable. For funds switching request(s) the closing NAV of the day on which the request is received shall be applicable.

(b) If premiums are received after 3:00p.m. of a business day,

by Us through cash, local cheque or a demand draft payable at par at the place where the premium is receivable, the closing NAV of the next business day of which the premiums are received shall be applicable. For funds switching request(s) the closing NAV of the next business day of which the request is received shall be applicable.

(c) If the premium is received by Us by way of an outstation cheque/outstation demand draft, Unit Price of the date on which these instruments are realized shall apply.

(d) In case of proposals or requests for Top-Up Premium where Our underwriting or approval is required, the closing Unit Price of the day on which underwriting/approval is completed in all respects or the date of receipt of premium (in case of cash or local cheque or demand draft payable at par) or the date of cheque/demand draft realization (in case of an outstation cheque/demand draft) whichever is later shall apply.

(e) If premiums are received via standing instruction (such as autopay, credit cards, electronic clearing system etc) the same procedure as for local cheques will apply with the date of sending the collection request to the relevant bank/financial institution being taken as the date of receipt of the local cheque.

(f) Notwithstanding the above, premiums received in advance of the due date will subject to the provisions set out in paragraph (3) below.

(2) Sale & Redemption of Units in respect of Partial Withdrawals, Complete Withdrawal, Fund Value(s) switched out , death claim and maturity claim:

(a) If a valid request/application is received by Us at or before 3.00 pm of a Business Day, Unit Price of the date of receipt shall apply.

(b) If a valid request/application is received by Us after 3.00 pm of a Business Day, Unit Price of the next valuation date following the receipt shall apply.

(c) In case of a death claim, valid application shall mean written notice of claim and filing of due proof of death in accordance with the Claims Procedures of the Policy.

(3) Where the premium is received in advance:

If the premium is received in advance, the Units will be allocated on the due date of the premium. However if the premiums are received by way of outstation cheques/outstation demand drafts, Units will be allocated on the day these instruments are realized or on due date whichever is later.

EXCEPTIONAL CIRCUMSTANCES

We may defer the payment of benefits (other than death benefit) under this Policy for a period not exceeding 30 days from the date of payment that would have been normally effected if not for exceptional circumstances, which situations such as where We, on receipt of the request for claim, are not able to liquidate the investments quickly owing to market circumstances.

Examples of such circumstances are:

a) When one or more stock exchanges which provide a basis for valuation for a substantial portion of the assets of the Fund are closed otherwise than for ordinary holidays.

b) During periods of extreme volatility of markets during which Complete Withdrawals and switches would, in Our opinion, be detrimental to interests of the existing unit holders of the Fund.

c) In case of natural calamities, strikes, wars, civil unrest, riots and bandhs.

d) If so directed by Insurance Regulatory and Development Authority.

SCHEDULE OF POLICY CHARGES

The current charges on the Policy as on the Issue Date are as follows.

We may add new charges and alter the charges and fees as shown in this schedule (except the Mortality and Premium Allocation Charge) from time to time by sending advance notice of at least three (3) months and on prior clearance from Insurance Regulatory and Development Authority and will have prospective effect.

Discontinuance Charge:

Complete Withdrawal is allowed any time during the Policy Term.

Discontinuance charge is applicable in case of Complete Withdrawal and Discontinuance of Premium Payment and is as follows:

Policy year

Discontinuance charge for Annualised Premium up to `25000

Discontinuance charge for Annualised Premium above `25000

1 Lower of 20% of Annualised premium or 20% of Regular Premium Fund Value subject to maximum of `3000

Lower of 6% of Annualised premium or 6% of Regular Premium Fund Value subject to maximum of `6000







5 and above

Nil Nil

There are no discontinuance charges applicable on the Top-Up Fund Value.

Partial Withdrawal Charge:

No Charges for Partial Withdrawal

Partial Withdrawals are allowed from the Regular Premium Fund Value after completion of five years from the Issue date.

Partial Withdrawals are allowed from the Top-Up Fund Value after completion of five years from the acceptance date of each Top-Up Premium.

Regular Premium Allocation Charge:

Regular Premium Allocation Charge as below will be deducted from the Regular Premium , as a percentage of the Regular Premium

amount received, and depending on the Annualised Regular Premium band that the basic Policy falls in as below

Premium Year

Annualised Premium `20,000 to `29,999

Annualised Premium `30000 and above

1 to 3 3% 2% 4 to 10 2% 2% 11 to 15 1% 1% 16th year onwards

0% 0%

Annualised Regular Premium is the amount of Regular Premiums payable for a complete 12-months period. The Regular Premium of the Policy is arrived at as below:

If monthly paid Annualized Premium * 0.0833 If quarterly paid Annualized Premium * 0.25 If semi-annually paid Annualized Premium * 0.5 If annually paid Annualized Premium * 1

Top-Up Premium Allocation Charge:

Top-Up Premium Allocation Charge as below will be deducted from the Top-Up Premium received as a percentage of the Top-Up Premium amount received:-

Policy Year Percentage of the Top-Up Premium

All 1.5%

Policy Administration Charge:

A Monthly Policy Administration Charge will be deducted by canceling Units at the Unit Price of the Units from the Fund Value of the Policy and this charge will increase by 5% compounded annually subject to a maximum of `6000 per annum. This increase will be effective from the next policy anniversary Unit deduction will first be made from the Regular Premium Fund Value, and if insufficient, then from the Top-Up Fund Value.

Tabulated below is the Monthly Policy Administration charge for the 1st policy year.

Annualised Premium (`)

Policy Administration Charges per month (`)

20,000 to 29,999 70 30,000 to 49,999 100 50,000 and above 150

Mortality Charge :

The Mortality Charge of the Basic Policy will be deducted by cancelling Units at the Unit Price, from the Regular Premium Fund Value of the Policy on each Policy Month Anniversary. In case of the Top-Up Sum Assured, the same will be deducted from the Top-Up Fund Value, if any. If the Regular Premium Fund Value is insufficient, then mortality charge will be deducted from the Top-Up Fund Value and vice-versa.

Annual Mortality Charge = Insured Amount * Mortality Rate as applicable at each age from the Mortality Table. (Insured Amount is defined below)

The Insured Amount for Regular Premium Fund Value = Maximum (Basic Sum Assured, 1.05 times total regular premiums paid)

The Insured Amount for Top-Up Fund Value = Maximum (Top Up Sum Assured, 1.05 times total Top Up premiums paid)

Mortality Charge = 0 if the Insured Amount <= 0.

The above rates are for standard lives payable per `1000 Sum Assured and are guaranteed throughout the term of the Policy. While calculating Mortality Charge for individual life the above rates will be divided by 1000. The rates are based on age last birthday.

Premium Re-direction Charge:

There is no Premium Re-direction charge.

Fund Switching Charge:

Fund Switching Charge is payable on each switching from one Fund to another except for the first twenty four (24) such switches in each Policy Year. Automatic fund switches in the SMART option is available from the 24 free switches. The Fund Switching charge is Rupees One Hundred only (`100/-) deducted proportionately from the Fund(s) to be switched into by cancellation of the Units at the applicable Unit Prices. This charge may be revised as deemed appropriate by Us subject to prior clearance from the Insurance Regulatory and Development Authority but shall not exceed a maximum of `250/-.

Waiver of Premium (WoP) Charge

The Waiver of Premium (WoP) Charges are calculated as below and will be deducted by cancelling Units at relevant Unit Price from Regular Premium Fund Value on each Monthly Policy Anniversary. If the Regular Premium Fund Value is insufficient, then the WoP Charges will be deducted from the Top-Up Fund Value, if any.

Annual WoP Charge = WoP Amount * (WoP Rate/1000)

WoP Amount = Sum of all future Regular Premiums to be waived under base policy.

Waiver of Premium (WoP) Rate: The WoP rates are based on disability and mortality rates of the Life insured. The rates are annual rate applicable per 1000 lives and are enclosed in Table-1. The WoP rate is based on the attained age of the Insured at the beginning of every Policy Year and balance complete years premium paying term.

The Waiver of Premium rates are subject to review thereafter based on the disability experience only and may be altered by giving an advance notice of at least 3 months to You subject to the prior approval of Insurance Regulatory and Development Authority and will have prospective effect.

The Family Income Benefit Charge (FIB)

FIB Charges are calculated as below and will be deducted by cancelling Units at relevant Unit Price from Regular Premium Fund Value on each Monthly Policy Anniversary. If the Regular Premium Fund Value is insufficient, then the FIB Charges will be deducted from the Top-Up Fund Value, if any.

Annual FIB Charge = Basic SA * (FIB rate/1000)

FIB rates are mentioned in Table-2

The Family Income Benefit Charges are subject to review thereafter based on the disability experience only and may be altered by giving an advance notice of at least 3 months to You subject to the prior approval of Insurance Regulatory and Development Authority and will have prospective effect

There will be a Fund Management Charge for each of the Funds deducted at Unit Valuation Dates, which is specified above. We may alter the Fund Management Charges like other Policy Charges by sending advance notice to You of at least three (3) months subject to prior approval from the Insurance Regulatory and Development Authority

Under exceptional circumstances investment in Cash / Money Market Instruments in all above funds may go up to 100%.

Exceptional circumstances may include

a) Global financial or credit crisis,

b) War like situation,

c) Political uncertainty

d) Events like Political/ Communal disturbance which affects Indian economy and in turn impacts severely on Fixed Income/ Equity market.

The various funds offered under this product are the names of the funds and words like ‘Super’ etc are used as part of the names of the funds and do not in any way indicate the quality of these funds, their future prospects and returns.

Subject to the laws and regulations as applicable, the asset allocation pattern indicated for the Fund in the Schedule of Fund may change from time to time, keeping in view market conditions, market opportunities, applicable regulations and political and economic factors. The percentages of investment/asset allocation pattern as stated in Schedule of Fund are only indicative and not absolute and can vary substantially depending upon the decision of the investment manager, the intention being at all times to seek to protect the interests of the policyholders, and meet the investment objectives of the relevant Fund. In this Policy, all investment risk is borne by You. Investments are subject to market risks and You acknowledge the same.

Table-1 (Waiver of Premium rates) – Per `1000 Premium

Balance Premium Paying Term in complete years

Attained Age 0 1 2 3 4 5 6 7 8 9 10 11 12 18 1.12 1.09 1.05 1.02 0.99 0.97 0.94 0.91 0.89 0.86 0.84 0.82 0.80

19 1.16 1.13 1.09 1.06 1.03 1.00 0.97 0.95 0.92 0.89 0.87 0.85 0.82

20 1.2 1.16 1.13 1.09 1.06 1.03 1.00 0.97 0.95 0.92 0.90 0.87 0.85

21 1.21 1.18 1.14 1.11 1.08 1.05 1.02 0.99 0.96 0.93 0.91 0.89 0.86

22 1.24 1.20 1.17 1.13 1.10 1.07 1.04 1.01 0.98 0.96 0.93 0.91 0.88

23 1.27 1.23 1.19 1.16 1.12 1.09 1.06 1.03 1.00 0.98 0.95 0.92 0.90

24 1.29 1.25 1.21 1.18 1.14 1.11 1.08 1.05 1.02 0.99 0.97 0.94 0.91

25 1.3 1.27 1.23 1.19 1.16 1.13 1.09 1.06 1.03 1.01 0.98 0.95 0.93

26 1.32 1.28 1.24 1.20 1.17 1.14 1.10 1.07 1.04 1.02 0.99 0.96 0.94

27 1.31 1.27 1.24 1.20 1.17 1.13 1.10 1.07 1.04 1.01 0.98 0.96 0.93

28 1.32 1.28 1.24 1.20 1.17 1.14 1.10 1.07 1.04 1.02 0.99 0.96 0.94

29 1.32 1.28 1.24 1.21 1.17 1.14 1.11 1.08 1.05 1.02 0.99 0.96 0.94

30 1.32 1.28 1.24 1.21 1.17 1.14 1.11 1.08 1.05 1.02 0.99 0.96 0.94

31 1.34 1.30 1.26 1.22 1.19 1.15 1.12 1.09 1.06 1.03 1.00 0.97 0.95

32 1.39 1.35 1.31 1.27 1.23 1.20 1.16 1.13 1.10 1.07 1.04 1.01 0.99

33 1.44 1.40 1.36 1.32 1.28 1.24 1.21 1.17 1.14 1.11 1.08 1.05 1.02

34 1.51 1.47 1.42 1.38 1.34 1.30 1.27 1.23 1.20 1.17 1.13 1.10 1.07

35 1.6 1.55 1.51 1.46 1.42 1.38 1.34 1.30 1.27 1.23 1.20 1.17 1.14

36 1.72 1.67 1.62 1.57 1.52 1.48 1.44 1.40 1.36 1.32 1.29 1.25 1.22

37 1.84 1.78 1.73 1.68 1.63 1.58 1.54 1.50 1.46 1.42 1.38 1.34 1.30

38 1.99 1.93 1.87 1.82 1.77 1.71 1.67 1.62 1.58 1.53 1.49 1.45 1.41

39 2.15 2.09 2.03 1.97 1.91 1.86 1.81 1.76 1.71 1.66 1.61 1.57 1.53

40 2.36 2.29 2.22 2.16 2.10 2.04 1.98 1.92 1.87 1.82 1.77 1.72 1.68

41 2.57 2.50 2.42 2.35 2.28 2.22 2.16 2.10 2.04 1.98 1.93 1.88 1.83

42 2.78 2.70 2.62 2.54 2.47 2.40 2.33 2.27 2.20 2.14 2.08 2.03 1.97

43 3.02 2.93 2.84 2.76 2.68 2.60 2.53 2.46 2.39 2.32 2.26 2.20 2.14

44 3.3 3.20 3.11 3.02 2.93 2.85 2.77 2.69 2.62 2.54 2.47 2.41 2.34

45 3.65 3.54 3.44 3.34 3.24 3.15 3.06 2.97 2.89 2.81 2.74 2.66 2.59

46 4.06 3.94 3.82 3.71 3.61 3.50 3.40 3.31 3.22 3.13 3.05 2.96 2.89

47 4.51 4.37 4.25 4.12 4.00 3.89 3.78 3.67 3.57 3.48 3.38 3.29 3.20

48 5.02 4.87 4.73 4.59 4.46 4.33 4.21 4.09 3.98 3.87 3.76 3.66 3.57

49 5.6 5.43 5.27 5.12 4.97 4.83 4.69 4.56 4.43 4.31 4.20 4.08 3.98

50 6.24 6.05 5.87 5.70 5.54 5.38 5.23 5.08 4.94 4.81 4.68 4.55 4.43

51 6.94 6.73 6.54 6.35 6.16 5.99 5.82 5.66 5.50 5.35 5.20 5.06 4.93

52 7.71 7.48 7.26 7.05 6.84 6.65 6.46 6.28 6.11 5.94 5.78 5.63 5.48

53 8.56 8.30 8.06 7.82 7.60 7.38 7.17 6.97 6.78 6.59 6.42 6.24 6.08

54 9.47 9.19 8.92 8.66 8.41 8.17 7.94 7.72 7.50 7.30 7.10 6.91 -

55 10.45 10.14 9.84 9.55 9.28 9.01 8.76 8.51 8.28 8.05 7.83 - -

56 11.51 11.17 10.84 10.53 10.22 9.93 9.65 9.38 9.12 8.87 - - -

57 12.56 12.19 11.83 11.49 11.16 10.84 10.53 10.24 9.95 - - - -

58 13.68 13.27 12.88 12.50 12.14 11.80 11.46 11.14 - - - - -

59 15.03 14.58 14.15 13.74 13.35 12.97 12.60 - - - - - -

60 16.63 16.13 15.66 15.20 14.76 14.34 - - - - - - -

61 18.37 17.82 17.30 16.80 16.31 - - - - - - - -

62 20.34 19.74 19.16 18.60 - - - - - - - - -

63 22.57 21.90 21.25 - - - - - - - - - -

64 25.02 24.27 - - - - - - - - - - - 65 27.12 - - - - - - - - - - - -

Balance Premium Paying Term in complete years

Attained Age 13 14 15 16 17 18 19 20 21 22 23 24

18 0.77 0.75 0.74 0.72 0.70 0.68 0.66 0.65 0.63 0.62 0.60 0.59

19 0.80 0.78 0.76 0.74 0.72 0.71 0.69 0.67 0.66 0.64 0.63 0.61

20 0.83 0.81 0.79 0.77 0.75 0.73 0.71 0.69 0.68 0.66 0.64 0.63

21 0.84 0.82 0.80 0.78 0.76 0.74 0.72 0.70 0.69 0.67 0.65 0.64

22 0.86 0.84 0.82 0.79 0.77 0.76 0.74 0.72 0.70 0.69 0.67 0.65

23 0.88 0.85 0.83 0.81 0.79 0.77 0.75 0.73 0.72 0.70 0.68 0.67

24 0.89 0.87 0.85 0.82 0.80 0.78 0.76 0.75 0.73 0.71 0.69 0.68

25 0.90 0.88 0.86 0.83 0.81 0.79 0.77 0.76 0.74 0.72 0.70 0.69

26 0.91 0.89 0.87 0.84 0.82 0.80 0.78 0.76 0.75 0.73 0.71 0.69

27 0.91 0.88 0.86 0.84 0.82 0.80 0.78 0.76 0.74 0.72 0.71 0.69

28 0.91 0.89 0.87 0.84 0.82 0.80 0.78 0.76 0.75 0.73 0.71 0.69

29 0.91 0.89 0.87 0.84 0.82 0.80 0.78 0.76 0.75 0.73 0.71 0.70

30 0.91 0.89 0.87 0.85 0.82 0.80 0.78 0.77 0.75 0.73 0.71 0.70

31 0.92 0.90 0.88 0.86 0.83 0.81 0.79 0.77 0.76 0.74 0.72 0.70

32 0.96 0.94 0.91 0.89 0.87 0.85 0.82 0.80 0.79 0.77 0.75 0.73

33 1.00 0.97 0.95 0.92 0.90 0.88 0.86 0.84 0.82 0.80 0.78 0.76

34 1.05 1.02 0.99 0.97 0.94 0.92 0.90 0.88 0.86 0.84 0.82 0.80

35 1.11 1.08 1.05 1.02 1.00 0.97 0.95 0.93 0.90 0.88 0.86 0.84

36 1.19 1.16 1.13 1.10 1.07 1.05 1.02 1.00 0.97 0.95 0.93 0.90

37 1.27 1.24 1.21 1.18 1.15 1.12 1.09 1.06 1.04 1.01 0.99 0.97

38 1.38 1.34 1.31 1.27 1.24 1.21 1.18 1.15 1.12 1.10 1.07 1.05

39 1.49 1.45 1.41 1.38 1.34 1.31 1.28 1.25 1.22 1.19 1.16 1.13

40 1.63 1.59 1.55 1.51 1.47 1.44 1.40 1.37 1.33 1.30 1.27 1.24

41 1.78 1.73 1.69 1.65 1.61 1.57 1.53 1.49 1.45 1.42 1.39 1.36

42 1.92 1.87 1.83 1.78 1.73 1.69 1.65 1.61 1.57 1.53 1.50 -

43 2.09 2.03 1.98 1.93 1.88 1.84 1.79 1.75 1.71 1.67 - -

44 2.28 2.22 2.17 2.11 2.06 2.01 1.96 1.91 1.87 - - -

45 2.52 2.46 2.40 2.34 2.28 2.22 2.17 2.11 - - - -

46 2.81 2.74 2.67 2.60 2.53 2.47 2.41 - - - - -

47 3.12 3.04 2.96 2.89 2.81 2.74 - - - - - -

48 3.47 3.38 3.30 3.21 3.13 - - - - - - -

49 3.87 3.77 3.67 3.58 - - - - - - - -

50 4.31 4.20 4.10 - - - - - - - - -

51 4.80 4.68 - - - - - - - - - -

52 5.33 - - - - - - - - - - -

53 - - - - - - - - - - - -

54 - - - - - - - - - - - -

55 - - - - - - - - - - - -

56 - - - - - - - - - - - -

57 - - - - - - - - - - - -

58 - - - - - - - - - - - -

59 - - - - - - - - - - - -

60 - - - - - - - - - - - -

61 - - - - - - - - - - - -

62 - - - - - - - - - - - -

63 - - - - - - - - - - - -

64 - - - - - - - - - - - -

65 - - - - - - - - - - - -

Table-2 FIB Rates (per `1000 Basic Sum Assured).

Attained Age/Benefit payment term 1 2 3 4 5 6 7 8 9 10

18 0.0700 0.2000 0.3100 0.4200 0.5200 0.6200 0.7100 0.7900 0.8500 0.8600

19 0.0700 0.2000 0.3200 0.4400 0.5400 0.6400 0.7400 0.8200 0.8800 0.8900

20 0.0800 0.2100 0.3300 0.4500 0.5600 0.6600 0.7600 0.8500 0.9100 0.9100

21 0.0800 0.2100 0.3400 0.4600 0.5700 0.6700 0.7700 0.8600 0.9200 0.9300

22 0.0800 0.2200 0.3500 0.4700 0.5800 0.6900 0.7900 0.8800 0.9500 0.9500

23 0.0800 0.2200 0.3500 0.4800 0.5900 0.7000 0.8000 0.9000 0.9700 0.9700

24 0.0800 0.2300 0.3600 0.4900 0.6000 0.7100 0.8200 0.9100 0.9800 0.9800

25 0.0800 0.2300 0.3600 0.4900 0.6100 0.7200 0.8300 0.9200 0.9900 1.0000

26 0.0800 0.2300 0.3700 0.5000 0.6200 0.7300 0.8400 0.9300 1.0000 1.0100

27 0.0800 0.2300 0.3700 0.5000 0.6200 0.7300 0.8300 0.9300 1.0000 1.0000

28 0.0800 0.2300 0.3700 0.5000 0.6200 0.7300 0.8400 0.9300 1.0000 1.0100

29 0.0800 0.2300 0.3700 0.5000 0.6200 0.7300 0.8400 0.9400 1.0100 1.0100

30 0.0800 0.2300 0.3700 0.5000 0.6200 0.7300 0.8400 0.9400 1.0100 1.0100

31 0.0800 0.2300 0.3700 0.5000 0.6300 0.7400 0.8500 0.9500 1.0200 1.0200

32 0.0900 0.2400 0.3900 0.5200 0.6500 0.7700 0.8800 0.9800 1.0600 1.0600

33 0.0900 0.2500 0.4000 0.5400 0.6800 0.8000 0.9100 1.0200 1.1000 1.1000

34 0.1000 0.2600 0.4200 0.5700 0.7100 0.8400 0.9600 1.0700 1.1500 1.1600

35 0.1000 0.2800 0.4500 0.6000 0.7500 0.8900 1.0100 1.1300 1.2200 1.2200

36 0.1100 0.3000 0.4800 0.6500 0.8000 0.9500 1.0900 1.2200 1.3100 1.3100

37 0.1200 0.3200 0.5100 0.6900 0.8600 1.0200 1.1600 1.3000 1.4000 1.4100

38 0.1300 0.3500 0.5600 0.7500 0.9300 1.1000 1.2600 1.4100 1.5100 1.5200

39 0.1400 0.3800 0.6000 0.8100 1.0100 1.1900 1.3700 1.5300 1.6400 1.6500

40 0.1500 0.4100 0.6600 0.8900 1.1100 1.3100 1.5000 1.6700 1.8000 1.8100

41 0.1600 0.4500 0.7200 0.9700 1.2100 1.4300 1.6300 1.8200 1.9600 1.9700

42 0.1800 0.4900 0.7800 1.0500 1.3000 1.5400 1.7600 1.9700 2.1200 2.1300

43 0.1900 0.5300 0.8400 1.1400 1.4100 1.6700 1.9100 2.1400 2.3000 2.3100

44 0.2100 0.5800 0.9200 1.2500 1.5500 1.8300 2.0900 2.3400 2.5200 2.5300

45 0.2300 0.6400 1.0200 1.3800 1.7100 2.0200 2.3100 2.5900 2.7800 2.7900

46 0.2600 0.7100 1.1400 1.5300 1.9000 2.2500 2.5800 2.8800 3.1000 3.1100

47 0.2900 0.7900 1.2600 1.7000 2.1100 2.5000 2.8600 3.2000 3.4400 3.4500

48 0.3200 0.8800 1.4000 1.8900 2.3500 2.7800 3.1800 3.5600 3.8300 3.8400

49 0.3500 0.9800 1.5600 2.1100 2.6200 3.1000 3.5500 3.9700 4.2600 4.2800

50 0.4000 1.0900 1.7400 2.3500 2.9200 3.4600 3.9500 4.4200 4.7500 4.7700

51 0.4400 1.2100 1.9400 2.6200 3.2500 3.8500 4.4000 4.9200 5.2900 5.3100

52 0.4900 1.3500 2.1500 2.9100 3.6100 4.2700 4.8900 5.4700 5.8800 5.9000

53 0.5400 1.5000 2.3900 3.2300 4.0100 4.7400 5.4300 6.0700 6.5200 6.5500

54 0.6000 1.6600 2.6500 3.5700 4.4400 5.2500 6.0100 6.7100 7.2200 7.2400

55 0.6600 1.8300 2.9200 3.9400 4.9000 5.7900 6.6200 7.4100 7.9600 7.9900

56 0.7300 2.0200 3.2200 4.3400 5.4000 6.3800 7.3000 8.1600 8.7700

57 0.8000 2.2000 3.5100 4.7400 5.8900 6.9600 7.9700 8.9100

58 0.8700 2.3900 3.8200 5.1600 6.4100 7.5800 8.6700

59 0.9500 2.6300 4.2000 5.6700 7.0400 8.3300

60 1.0500 2.9100 4.6500 6.2700 7.7900

61 1.1600 3.2200 5.1300 6.9300

62 1.2900 3.5600 5.6900

63 1.4300 3.9500

64 1.5800

Gyan Kosh - Tata AIA

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