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TATA AIG LIFE - Nirvana Plus
Plan Highlights
| Key Feature |
A pension plan that offers guaranteed life cover and a guaranteed addition of 10 percent of sum assured every 5 years.
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| Best Suited For |
People who wish to secure their life along with planning for retirement. |
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| Features |
1) Policyholder can choose from three levels of cover, which would be the amount of Sum Assured Rs 1 lakh, Rs 2 lakh and Rs 4 lakh.
2) Policyholder can choose the retirement age ? 55, 58 or 60 years of age.
3) Offers guaranteed addition of 10% of sum assured for every 5 years of premium paid.
4) For policyholders between 18 and 45 years of age, no medical examination is required. A health declaration will suffice.
5) Offers Rs 1 lakh as critical illness cover (after a 30 day survival period) in the first three years of the plan. Policyholder can avail of this benefit 180 days after signing up.
6) After 3 years, critical illness will be available as an optional rider subject to evidence of health and payment of additional premium.
7) Offers tax benefits u/s 80 CCC on your premium payments, irrespective of income level.
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Benifits
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| Maturity Benifits |
On chosen retirement age, policy pays upto one third of your Sum Assured as lump sum cash. Balance amount is used to buy you a monthly income plan.
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| Survival Benifits |
Guaranteed addition of 10% of sum assured for every 5 years of premium paid. |
| Death Benifits (Natural) |
On death during plan period, full Sum Assured + Guaranteed Additions + Bonuses (if any) is payable immediately to beneficiary. |
| Death Benifits (Accidental) |
On accidental death during plan period, double Sum Assured + Guaranteed Additions + Bonuses (if any) is payable immediately to beneficiary. |
Other Benefits
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Reversionary bonus from the 6th policy anniversary, and terminal bonus paid upon maturity or death after ten years. These bonuses are based on the company?s performance.
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Policy Features
| Type |
Pension Policy |
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| House Loan |
No |
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| General Loan |
No |
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| Premium Paying options |
Yearly, Half-Yearly, Quarterly |
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| Period of Life Insurance |
Till retirement age or death, whichever is earlier. |
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