Investment Plans February 15, 2021

Tata AIA Life Insurance Super Achiever Plan is a non-participating unit-linked child endowment plan with which you can plan for your child’s future. With Tata AIA Life Insurance Super Achiever Plan, you can plan a bright future for your children and secure them from any unfortunate events through life cover. Under this policy, you will get the following  benefits –

  1. Guaranteed maturity additions
  2. 8 fund options
  3. Enhanced Investment through top-ups
  4. And much more

Read this page further to learn more about these and other features of the Tata AIA Life Insurance Super Achiever Plan.

Investment

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Benefits of Tata AIA Life Insurance Super Achiever Plan

The insured will receive the following benefits from his/her Tata AIA Life Insurance Super Achiever Plan.

Maturity Benefit – On the date of policy maturity, you will receive a total fund value, which is a sum of the regular fund value and top-up fund value as per the applicable NAV on the date of maturity.

Guaranteed Maturity Additions – The guaranteed maturity additions shall be credited to your respective funds at a rate of 5% of unit in each fund under the regular premium account, provided the policy is in force. These guaranteed additions shall not apply to top-up premium accounts.

Death Benefit – In case you die during the policy term, your nominee/legal heir shall receive a higher of the following –

  • Basic sum assured
  • 105% of the total regular premiums paid

In addition to the above, the funding of premium benefits will get activated, which means 100% of the future regular premiums of your policy shall be payable by the company.

And if you have a top-up fund premium value under your Tata AIA Life Insurance Super Achiever Plan, the nominee shall receive the higher of the following as well –

Top-up sum assured or

105% of the top-up paid premiums

An amount equal to the total fund value will also be payable to the nominee at maturity.

Tata AIA Life Insurance Super Achiever Plan Investment Options

This policy gives you a wide range of options when it comes to an investment as you can choose the fund you want to invest in that suits your goal. You can choose from the following 8 fund options.

Fund NameObjectiveAsset AllocationRisk Profile
Multi-Cap FundAims to generate long term capital appreciation by investing in large and mid-cap companiesEquity - 60%-100%

Debt instruments -0%-40%

Cash/money market instrument -0%-40%
High
India Consumption FundAims for long term capital appreciation by investing in companies that gain benefits from the domestic consumption growth story of IndiaEquity - 60%-100%

Debt instruments -0%-40%

cash/money market instrument -0%-40%
High
Large Cap Equity FundThis fund predominantly invests in large-cap equity and equity-linked securities to generate long term capital appreciationEquity and equity-linked instruments - 80%-100%

Cash/money market instrument -0%-20%
High
Whole Life Mid Cap Equity FundYour paid premiums will be predominantly invested in mid-cap equity & mid-cap equity-linked securities to generate long term capital appreciationEquity and equity-linked instruments - 60%-100%

Cash/money market instrument -0%-40%
High
Whole Life Aggressive Growth FundAim to provide high returns by investing mostly in the equities as well as debt/money market instrumentsEquity and equity-linked instruments - 50%-80%

Cash/money market instrument -0%-40%

Debt instruments - 20%-50%
Medium to High
Whole Life Stable Growth FundThis fund generates stable returns by investing in equities and debt/money market instrumentsDebt instruments - 50%-70%

Equity and equity linked instruments - 30%-50%

Cash/money market instrument -0%-20%
Low to Medium
Whole Life Income FundAim to generate regular income by investing in a range of debt and money market instruments of various maturitiesDebt instruments - 60%-100%

cash/money market instrument - 0%-40%
Low
Whole Life
Short-Term Fixed
Income
Invest in fixed income securities with shorter tenures to gain stable returnsDebt instruments - 60%-100%

cash/money market instrument - 0%-40%
Low

After choosing the desired fund, choose any of the following portfolio strategies

  1. Enhanced Automatic Asset Allocation Plus (Enhanced AAAP)
  2. Protect Returns of Funds Increased over Time (PROFIT)

Other Benefits of Tata AIA Life Insurance Super Achiever Plan

Besides the above benefits, let’s see what more does Tata AIA Life Insurance Super Achiever Plan has to offer –

  1. Partial Withdrawals:- You can withdraw money from your policy fund value anytime after the expiry of a 5-year lock-in period, provided the policy is in force. A maximum of 4 partial withdrawals is allowed in a policy year.
  2. Top-ups:- You can pay additional premiums under Tata AIA Life Insurance Super Achiever Plan to top it up. And you won’t be able to pay top-ups during the last five policy years. A minimum top-up premium is INR 5,000, subject to prevailing underwriting rules. And the top-ups will be allocated to your respective funds the same as the regular premium.
  3. Settlement Option:- You can receive the maturity amount either in a lump sum or in installments. The installment period is called the settlement period that can’t extend up to 5 years. The life assured will choose the installment amount and the time of maturity while exercising this option. Your each received installment shall be the outstanding fund value as per the installment date divided by the number of outstanding installments.
  4. Switching Between the Funds:- During the policy term, you can enhance your investments by switching from one fund to another. The switching option won’t be allowed if the insured has chosen the Enhanced AAAP or PROFIT option at inception. The company has allowed up to 12 free switches in a policy year after which the applicable charges will apply to each switch.
  5. Premium Redirection:- This facility will help you allocate future premiums to a different fund or a set of funds. The premium redirection facility will not be allowed if Enhanced AAAP or PROFIT is chosen at inception.
  6. Complete Withdrawal:- You can withdraw your policy completely anytime during the policy term by intimating this to the company. If you request for a complete withdrawal within the lock-in period; the surrender value, which is the fund value less applicable discontinuance charges shall be credited to the ‘Discontinued Policy Fund II’. And the surrender value shall be given to you after the expiry of the lock-in period. On the other hand, if you request a complete withdrawal after the lock-in period, you’ll get the total fund value.

Note:– Lock-in period is five consecutive years from the date of policy commencement.

Important Point

Only the child of the life assured can be the nominee in Tata AIA Life Insurance Super Achiever Plan.

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