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Eligibility Criteria for Tata AIA Life Insurance Smart Value Income Plan

Eligibility

Plan Parameters

Minimum

Maximum

Age at Entry (years)^#

30 days

Payment Option		Maximum Entry Age
Limited Pay		65
Regular Pay		65
Single Pay	‘Sum Assured-I’^	45
	‘Sum Assured-II’^	65

Age at Maturity (years)^#

Payment Option		Whole Life	Other than Whole Life
Limited Pay		100	85
Regular Pay		NA	85
Single Pay	‘Sum Assured-I’^	NA	65
Single Pay	‘Sum Assured-II’^	NA	85

Policy Term (PT) (years)

Payment Option	Whole Life	Other than Whole Life
Payment Option	Whole Life	Minimum	Maximum
Limited Pay	100 minus Entry Age	20	50
Regular Pay	NA	10*	30
Single Pay	NA	10*	50

Policy terms available in integers only

Premium Payment Term (PPT) (years)

Payment Option	Minimum	Maximum
Limited Pay	5	12
Regular Pay	Same as Policy Term
Single Pay	1

Premium Payment Term available in integers only

Premium (Rs.)

Single/Limited/Regular Pay: 24,000 p.a.

No Limit (subject to Underwriting Policy)

Premium Payment Mode

Single/ Annual/ Half-yearly/ Quarterly/ Monthly

Cash Bonus Payout Frequency

Annual / Half-yearly / Quarterly / Monthly

Plan Option

Option 1 – Cash Bonus Option 2 – Accumulating Cash Bonus

Commission Structure:

Details of the Commission earned by the Bank as corporate agent from Life Insurance distribution business are as follows:

Category	First Year Commission		Renewal Commission		Single Premium Commission
Category	Min	Max	Min	Max	Min	Max
Pension	15.00%	35.00%	0.50%	9.00%	1.00%	2.00%
Protection	15.00%	35.00%	2.00%	8.00%	1.00%	2.00%
Savings & Investment	15.00%	35.00%	1.00%	11.00%	-	-
Health	15.00%	35.00%	1.00%	7.00%	-	-
ULIP	15.00%	15.00%	0.50%	2.00%	2.00%	2.00%

Please note, commission payable for group products is Min 5% and max 7.5%.

Note: The commission varies depending upon the product in each category, tenure, amount of premium and premium paying term.

^*For Group Products commission payable is with a ceiling on the maximum payout as defined by Insurance Regulatory and Development Authority of India (IRDAI) from time to time