5 2 10885 Hospicash Brochure

8/8/2019 5 2 10885 Hospicash Brochure

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Enjoy the benefitsof a Hospital cover that are

Virtually... free!

A non-participating health insurance planwith Return of Premium



Health Problems can strike us anytime-anywhere,

leaving behind a huge financial burden on us and our

dependants. In India, average financial loss per#hospitalisation is Rs 8000 . Moreover, healthcare costs

are always escalating. While buying health insurance,

we do wonder - what if nothing happened to me?

All the money paid as premiums would go waste! That’s

wherewepresenttoyouauniquesolution.

Tata AIG Life Hospi CashBack, a Guaranteed Issue

product – which covers you for hospitalisation expenses

and, at the same time, refunds all the premiums back,

evenifyouhadmultipleclaims.

Keyfeatures

• Dai ly f ixed amo unt paid on each day of st

Hospitalisationfrom1 overnightstay

• Option of Silver and Gold Plan to suit your

individualneeds

• Pr ov id es long- te rm m ed ical cov er ag e, for

15 years, without undergoing any medical tests

beforebuyingthePolicy

• Multiple claims possible as long as the annual limitandlifetimelimitsarenotexhausted

• Pre-existing diseases covered after a waiting period

of2yearsfromthedateofissue

• Once the Policy matures, Total Premiums paid*or Total premiums paid + Guaranteed Addition of

10% of Total premiums paid are returned back

• If death occurs during the Policy term, we pay higher

ofSumAssuredorTotalpremiumspaid

• Death Benefit and Maturity Benefit, payable evenaftermultipleclaims

• Pays in addition to your existing insurance cover

• Tax benefit u/s 80C of the IncomeTax Act,1961

# NSS 60th Round: Morbidity, Healthcare and Care of the Aged, ReportNo. 507 2006.



* Total Premiums Paid means amount equal to the total premiums paid

during the lifetime of the Policy. Such amount should be excluding

interestandtax.

HowdoesmyPolicywork?

Step 1: Buy the Policy without undergoing any medical

testsorsubmittinganypreviousmedicalrecords.

Step 2: In case you get hospitalised for any illness orinjury, you can claim the daily hospitalisation income

benefit from us upto the maximum limits given under

yourplan.

Step 3: Receive all your premiums (exclusive of service

tax)backattheendof15years.

Eligibility Criteria

Tata AIG Life Hospi CashBack: Silver & Gold

Term of Policy 15 yearsPremiumPayment term 15years

Minimum / Maximum 18 - 55 years

Issue Age

Maximum Maturity Age 70 years

$Premium Mode Annual / Semi-Annual /

Quarterly / Monthly

$: Modal loading is applicable if premium payment mode is other than

annual. AnnualPremiumRate:. No loading.;Semi-Annual Premium Rate:

MultiplyAnnualPremiumRateby0.51;QuarterlyPremiumRate:Multiply

Annual Premium Rate by 0.26. Monthly Premium Rate: Multiply Annual

PremiumRateby0.0883



PackageOptions&PolicyBenefits:

Silver Package Gold Package

Daily Hospitalisation Income Benefit Rs. 500 Rs. 1,000

Coverage (number of days/year) 15 30

LifetimeMaximum

(Days) 90 180

MaturityBenefit

Youcanchooseeitherofthetwooptions

i) 100% of Total Premiums paid are returned back, OR

ii) 100% of Total Premiums paid are returned +

GuaranteedAdditionof10%ofTotalpremiumspaid

DeathBenefit

In case of Death of the Life Insured during the Policy

term and where the Policy is in force, we will pay the

higherof:

(a) Sum Assured* (which is equal to 5 times the

annualised premium)

(b) Total of all premiums paid (exclusive of service tax)

However, for the first Policy year, the death benefit

wouldbelimitedtoreturnoftotalpremiumspaid.

*Sum assured (5 x Annualised premium) at Policy inception

willremainconstanttillendofthePolicyterm.

SurrenderValue

In case the Policy is surrendered after 3 annualpremiums are paid, an amount equal to the refund

percentageof TotalPremiumspaidtilldateofsurrender

forthatparticularyearwouldbepaidback.



Policy Anniversary Refund Percentage

1 0%

2 0%3 40%

4 43%

5 46%

6 50%

7 54%

8 58%

9 63%

10 68%

11 73%

12 79%

13 85%

14 92%

15 100%

GuaranteedSurrenderValue

You can surrender your plan after three years premiums

have been paid in full. In this case, the minimumGuaranteed Surrender Value that you are entitled to is

30% of the “Total Premiums Paid” excluding the

premiumforthefirstPolicyyear.

LoanProvisions

PolicyLoan

While this Policy is in force and provided that it has

a Cash value, you may apply for a Policy loan, for such

an amount within the cash value, and subject to suchterms and conditions, as the company may fix from time

totime.YourPolicymustbeassignedtous.

We reserve the right to determine the loan amount to

be granted, and to defer the granting of Policy loan for

aperiodnotexceedingsixmonthsfromdateofrequest.



Note:Theabovepremiumsareexclusiveofservicetax.Thecurrentapplicableservicetaxrateis1.03%.

^Service tax is payable on Insurance premiums as per applicable tax laws. Tata AIG life Insurance Company Limited reserves the right to recover from the

Policyholder, anyleviesor duties (includingservicetax), asimposedby thegovernment, bypremiumadjustment.

Kindly referto thesalesillustrationfor theexact premiumrates.

Sample Annual Premium Table in Rs. ^

Age Gold Package Silver Package

Male Female Male Female

30 11,390 12,820 16,430 18,490

35 12,610 14,170 18,340 20,620

40 13,180 14,490 18,990 21,070

100% of Total

Premiums paid

100% Total

Premiums paid +

Guaranteed Addition

of 10% of TotalPremiums paid

100% of

Total Premiums

paid 100%

Total Premiums paid +

Guaranteed Addition

of 10% of Total

Premiums paid

Male Female Male Female

7,730 8,370 11,250 12,140

8,300 8,950 12,070 13,090

8,620 9,150 12,440 13,220

LoanInterest

Daily interest shall accrue on Policy loan at a rate which

we shall determine. Interest shall be payable on each

Policy anniversary after the loan date and until the loan

is repaid. Any unpaid interest shall be added to the

principal loan and bear interest at the same rate. At any

time while the Policy is in force, you may repay the

principalandaccruedinterest, onanypartoftheloan.

When the loan with accrued interest together with any

indebtness exceeds the cash value, the Policy will

become void.

DeductionfromProceeds

The unpaid loan or any indebtness on this Policy will be

deducted from any payment or proceeds under this

Policy at the time of settlement. Our claim for any

indebtness will have priority over the claim of any

creditor,assigneeoranyotherinterestedparty.

Benefit Illustration:

A 30-year Old Male buys Tata AIG Life Hospi CashBack -

Gold with100%MaturityBenefit-

DailyHospitalisationIncomebenefitavailabletohimwillbe- Rs.1,000

Assuminghe was hospitalisedfor75days,claimspaidwillbe

– (Rs. 1,000x 75days)- Rs.75,000

PremiumPaidthroughthePolicytermwillbe(Rs.11,390*15years)- Rs.1,70,850**

At the endof15years,moneyreturnedbacktohim- Rs.1,70,850**

**Premiumshownisexclusiveof servicetax.

RighttoReviewthePremiumRates

Thepremiumratesareguaranteedfortwo(2)Yearsfrom

the Policy Date and are subject to review thereafter,

based on the future expected mortality and morbidity



experience. Upon review, if required, the mortality and

morbidity rates will be modified based on the claims

experience during the previous period and all other

assumptions will remain the same. The revised premiumrates will be applied to all Policyholders based upon

their issue age, i.e. if a Policyholder buys a Policy at age

25 Years and premiums are reviewed 2 Years later, at age

27Years, the revised premium rate of age 25Years will be

applicabletothisPolicyholderhenceforth.Further the revision in the premium rate will be subject

tothepriorapprovaloftheIRDA

W ha t i s n o t c ove re d u n de r Ta ta A I G L if eHospi CashBack?

Except for the Death Benefit, no benefit shall be payable

under this Policy for any event in respect of which

a claim is made, caused directly or indirectly, wholly or

partly,byanyoneofthefollowing:

1. Benefits will not be available for any Pre-existing

Condition, as defined in the Policy, until 24 months

of continuous coverage has elapsed, since inception

ofthefirstPolicywithus.

2. Daily Hospitalization Income Benefit for covered

illness will not be payable for the Waiting Period.

"Waiting Period" means a period of 90 days from the

issue date or commencement date or reinstatement

date, whichever is later, of the insurance policy.

3. Where in our opinion the Insured was diagnosed

of Acquired Immunodeficiency Syndrome (AIDS)

or infection by any Human Immunodeficiency

Virus(HIV);

4. War, declared or undeclared, or revolution;

5. Service in the armed forces in time of declared or

undeclared war or while under orders for war-like

operations or restorationof public order;

6. Self -destruction or any attempted self - destruction

or self-inflicted injury while sane or insane;



7. Accident occurring while or because the Insured

is u nd er t he inf lu ence of a lcohol or a ny

non-prescribed drug;

8. Violation or attempted violation of the law or

resistance to arrest;

9. Pregnancy, miscarriage or child-birth, including

caesarean section, abortion, voluntary termination

of pregnancy, fertility, birth control and all related investigation.

10. Any congenital defect or abnormality which has

manifested or was diagnosed before the Insured

attains17yearsofage;

11. Corrective aids, contact lenses, hearing aids and

treatment of refractive errors unless necessitated

byInjury;

12. P s yc h o s i s , m e n t a l / n e r v o u s d i s o r d e r s , o r

investigation and treatment of psychological,

emotional, mental or behavioral conditions, or sleep

disturbance disorders, treatment of alcoholism, or

drug abuse or any other complications arising there

fromoranydrugaccident;

13. Cosmetic or plastic surgery or any elective surgery

or cosmetic procedure that improves physical

appearance, surgical and non-surgical treatment of

o b e s i t y ( i n c l u d i n g m o r b i d o b e s i t y ) a n d

weight-control programs, or treatment of an

optional nature;

14. Any form of dental care or surgery unless

necessitated by the injury (excluding denture and

related expenses);

15. Special nursing care, routine health checks or

convalescence, Custodial Care, general debility,

lethargy,rest cure;

16. Any treatment or surgical procedures/surgery

which is unproven or not yet accepted in accordance

with standards of good medical practice, or which is

not performed bya Registered Medical Practitioner;



17. Immunisation, vaccination, inoculation or

treatments related to communicable diseases

requiringisolationorquarantineunderthelaw;

18. Speech therapy, diabetic class, nutritional

counselling, or group support treatment; treatments

and supplies for smoking cessation programs and

thetreatmentofnicotineaddiction;

1 9 . A n y t r e a t m e n t s o t h e r t h a n a l l o p a t h y / western medicines.

OtherFeatures:

FreeLookPeriod

You can cancel the Policy by giving a written

notice within the Free Look Period of 15 days from the

receipt of the Policy and the market value of the

invested premiums along with the charges paid will be

refunded after deducting Medical Fees, Stamp Duty,Mortality / Morbidity Charges and rider premium, if any,

onproportionatebasis.

GracePeriod

A grace period of thirty-one (31) days from the due date

will be allowed for payment of each subsequent

premium. The Policy will remain in force during the

grace period. If any premium remains unpaid at the end

of its grace period, the Policy shall lapse and have

no further value except as may be provided under the

non-forfeitureprovisions.

Reinstatement

In case your Policy has lapsed; you may reinstate the

same at the absolute discretion of Tata AIG Life within

two years of the first unpaid premium. However,

the Company would require:

• A written application from youfor reinstatement



• Current health certificate and other evidence

ofinsurability

• Payment of all overdue premiums with interest• Repayment or reinstatement of any indebtedness

outstanding on the due date of the unpaid premium

plus interest.

Non-forfeitureProvisions

If you fail to pay the premium within the Grace Period,

after Premiums have been paid for at least three

(3) consecutive years, you may choose the following

non-forfeiture option by writing to us within 90 daysaftertheduedateofthepremiumindefault:-

Cash Value–To surrender this Policy for its Cash Value.

Such Cash Value is equal to the Refund of Premium in

the event of Policy surrender as set forth under the

Eligibility&PlanOptions.

Backdating

Nobackdatingisallowedinthisplan.

Tax Benefits

Premiums paid under this plan are eligible for tax

benefitsunderSection80CoftheIncomeTaxAct,1961#,

as applicable. Moreover, life insurance proceeds enjoytaxbenefitsasperSection10(10D)ofthesaidAct.

# Tax laws are applicable as per the Income Tax Act, 1961

and are subject to amendments made therein from time

totime.

Insurance Act, 1938, Section 41 (Prohibition

ofRebates)

No person shall allow or offer to allow, either directly or



indirectly, as an inducement to any person to take out

or renew or continue an insurance in respect of any kind

of risk relating to lives or property in India, any rebate of

the whole or part of the commission payable or anyrebate of the premium shown on the Policy, nor shall

any person taking out or renewing or continuing

a Policy accept any rebate, except such rebate as may be

allowed in accordance with the published prospectuses

ortablesoftheinsurer.Any person making default in complying with the

provisions of sub-section 1 above shall be punishable

with fine, which may extend to five hundred rupees.

InsuranceAct, 1938, Section45

No Policy of life insurance effected before the

commencement of this Act shall after the expiry of two

years from the date of commencement of this Act and

no Policy of life insurance effected after the coming intoforce of this Act shall, after the expiry of two years from

the date on which it was effected be called in question

by an insurer on the ground that statement made in the

proposal or in any report of a medical officer, or referee,

or friend of the insured, or in any other document

leading to the issue of the Policy, was inaccurate or false,

unless the insurer shows that such statement was on

a material matter or suppressed facts which it was

material to disclose and that it was fraudulently made

by the Policyholder and that the Policyholder knew at

the time of making it that the statement was false or thatitsuppressedfactswhichitwasmaterialtodisclose:

Provided that nothing in this section shall prevent the

insurer from calling for proof of age at any time if he is

entitled to do so, and no Policy shall be deemed to be

called in question merely because the terms of thePolicy are adjusted on subsequent proof that the age of

the life insured was incorrectly stated in the proposal.



TataAIGLife -ANewLookat Life

Tata AIG Life Insurance Company Limited (Tata AIG Life)

is a joint venture company, formed by the Tata Groupand American International Group, Inc. (AIG).

Tata AIG Life combines the Tata Group's pre-eminent

leadership position in India and AIG's presence as

an international insurance organisation. The Tata Group

holds 74 per cent stake in the insurance venture with

AIG holding the balance 26 per cent. Tata AIG Lifep ro vi d es i n su ra n ce s o lu t io n s t o i n di v id u al s

and corporates.

Tata AIG Life Insurance Company was licensed to

operate in India on February 12, 2001 and started

operationsonApril1,2001."

Disclaimer

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.

The precise terms and conditions of this plan are

specifiedinthePolicycontract.

Wherever this brochure refers to taxation matters,

Tata AIG Life does not take responsibility for any

specific advice on taxation implications. You are

advised to check with your personal tax advisor for

advicerelevanttoyourcircumstances.

The indications about taxation matters presented in

this brochure are based on our interpretation of

currenttaxlawsandthesemaychangeinthefuture.

For complete details, please contact our Insuranceadvisor or visitTata AIG Life’s nearest branch office or

call our toll-free number 1-800-11-9966 (MTNL &

BSNL lines).



1-800-11-9966(for MTNL/BSNL subscribers)

For details

Tata AIG Life Insurance Company Ltd. (Regn. No. 110)

Registered & Corporate Office: Peninsula Towers,th

6 Floor, Peninsula Corporate Park, Ganpatrao Kadam Marg,Lower Parel, Mumbai 400 013.Visit us at www.tata-aig-life.com

Insurance is the subject matter of the solicitationUniqueReferenceNo.:L&C/Adv

t/2008/Oct/1621

UIN:110N

066V01

PRBR00331

5 2 10885 Hospicash Brochure

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