IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT

PORTFOLIO IS BORNE BY THE POLICYHOLDER. LINKED

INSURANCE PRODUCTS DO NOT OFFER ANY LIQUIDITY
DURING THE FIRST FIVE YEARS OF THE CONTRACT. THE
POLICYHOLDER WILL NOT BE ABLE TO SURRENDER/
WITHDRAW THE MONIES INVESTED IN LINKED INSURANCE
PRODUCTS COMPLETELY OR PARTIALLY TILL THE END OF
THE FIFTH YEAR.

Smart Pension Secure

Non Participating, Unit Linked, Individual Life Insurance Pension Plan

About Tata AIA Life

Tata AIA Life Insurance Company Limited (Tata AIA Life) is a joint venture
company, formed by Tata Sons and AIA Group Limited (AIA). Tata AIA Life
combines Tata’s pre-eminent leadership position in India and AIA’s
presence as the largest, independent listed pan-Asia life insurance group in
the world spanning 18 markets in Asia Pacific. Tata Sons holds a majority
stake (51per cent) in the company and AIA holds (49 per cent) through an
AIA International Limited. Tata AIA Life Insurance Company Limited was
licensed to operate in India on February 12, 2001 and started operations on
April 1, 2001.

Tata AIA Life Insurance Company Limited (IRDAI Regn. No.110)

CIN: U66010MH2000PLC128403. Registered & Corporate Office:
14th Floor, Tower A, Peninsula Business Park, Senapati Bapat Marg, Lower Parel,
Mumbai - 400013. Trade logo displayed above belongs to Tata Sons Ltd and AIA
Group Ltd. and is used by Tata AIA Life Insurance Company Ltd under a license. For
any information including cancellation, claims and complaints, please contact our
Insurance Advisor / Intermediary or visit Tata AIA Life’s nearest branch office or call
1-860-266-9966 (local charges apply) or write to us at
customercare@[Link]. Visit us at: [Link].
Unique Reference Number: L&C/Advt/2025/Jun/2312 • UIN: 110L182V04
Tata AIA Smart Pension Secure However, in case of death of the life assured during term of the
policy, the death benefit as defined in the ‘Death Benefit’
Non-Participating, Unit Linked, Individual Life Insurance
section shall be payable and thereafter the policy closes.
Pension Plan
2. Smart Pension Secure Plus
“Secure Your Retirement with Tata AIA Smart Pension
This plan ensures that the future you envisioned for your loved
Secure”
ones is fulfilled even in your absence. In case of any
Everyone dreams of enjoying the fruits of lifetime of hard work unfortunate event, the death benefit is paid to the nominee,
after retirement. However, retirement isn’t something that future premiums (if applicable) are funded by Tata AIA Life
happens by chance, it is something you create. It is more than Insurance and the policy continues till vesting.
just saving; it is about making sure that your financial future can
support the life you want to live. A strategically crafted Boundary conditions
retirement plan can ensure that your future is secured, and you Entry Age (Age last Birthday)
are not just ready for retirement but fully equipped to enjoy it on Minimum Entry Age: 21
your own terms. Maximum Entry Age:
Introducing Tata AIA Smart Pension Secure, a Option 1 – Smart Option 2 – Smart
Non-Participating, Unit Linked Individual Life Insurance Pension Secure Pension Secure Plus
Pension plan. Single Pay 75 Years NA
Tata AIA Smart Pension Secure is a financial planning solution Limited Pay 70 Years 70 Years
designed to provide systematic wealth accumulation for you Regular Pay 65 Years 65 Years
and your family. It helps build a corpus for your retirement.
Vesting Age (Age last Birthday)
Additionally, in the event of any insured unforeseen
circumstance, it offers extra benefits to safeguard your family Minimum Vesting Age: 45 Years
from financial difficulties in your absence. This plan not only Maximum Vesting Age: Single Pay/Limited Pay – 85 Years;
helps to grow your wealth, but also stands as a pillar of Regular Pay – 75 Years
financial security for your family, fortifying their future against Minimum Policy Term
uncertainties.
10 years subject to minimum vesting age of 45 years
Key features: Maximum Policy Term
• Flexibility to choose from 2 Plan Options: Smart Pension Single Pay/Limited Pay – Attained age 85 – Age at Entry
Secure and Smart Pension Secure Plus Regular Pay – Attained age 75 – Age at Entry
• Provide yourself and your family financial protection with
Premium Paying Term
market-linked returns
Minimum: Single Pay; Limited Pay – 5 Years;
• Boost your fund with Zero Premium Allocation charges
Regular Pay – 10 Years
• Loyalty Additions and maturity boosters to enhance your
retirement corpus Maximum:
Option 1 – Smart Option 2 – Smart
• Multiple funds and investment strategies to choose from Pension Secure Pension Secure Plus
• Option to choose premium payment term from Single, Single Pay Single Pay NA
Limited and Regular pay
Limited Pay Attained age 75 - Attained age 75 -
• Partial withdrawal option to meet your financial needs Age at Entry Age at Entry
• Flexibility to postpone vesting date to suit your Regular Pay 54 Years 54 Years
requirements
Minimum Premium
• Tax Benefits as per applicable tax laws
Plan Options Single Limited/
Plan Options: Premium Regular Premium
1. Smart Pension Secure Smart Pension Secure ₹ 10,000 p.a ₹ 10,000 p.a
Smart Pension Secure Plus - ₹ 10,000 p.a.
Provides you with an opportunity to invest your entire premium
with zero premium allocation charge and earn market linked Single Pay option is not available with Smart Pension Secure
returns with a flexibility for unlimited fund switches to get the Plus option.
most out of your investment. Vesting benefit shall be payable
as per the options given in the section ‘Options to avail Vesting Maximum Premium
Benefit’, provided all due premiums have been paid. No limit, as per BAUP
1 2
Minimum Sum Assured (SA) Death Benefit
10,000 Option 1- Smart Pension Secure:
Maximum Sum Assured In case of death of the insured during the policy term and while
NA the policy is in force, the nominee shall get,
Top up Premium Highest of,
Minimum: R 1000 (i) The Regular/Single Premium Fund Value of this Policy
or
Maximum: No limit, as per BAUP
(ii) 105 percent of the Total Regular/Single Premiums
Top up Sum Assured received up to the date of death Less partial
105% of Top-Up Prem withdrawals made during the two-year period
Premium Payment Mode immediately preceding the death of the life assured
Single Pay/Yearly/ Half-yearly/Quarterly/Monthly In addition to this:
Highest of
Benefits available under this plan
(i) Top-Up Premium Fund Value of this Policy or
Vesting Benefit
(ii) 105 percent of the total Top-up premium paid up to the
Fund Value, including Top-Up Premium Fund Value, if any, date of death.
valued at applicable NAV as on the date of Vesting
is also payable provided the Policyholder has a Top-Up
Vesting benefit shall be payable to: Premium Fund Value. The policy shall terminate on the death of
Option1 – Smart Pension Secure: Life Insured.
a) If the life inured is alive on Vesting Date, Vesting Benefit Option 2- Smart Pension Secure Plus
shall be payable a) Where only WoP on Death is chosen:
Option 2 – Smart Pension Secure Plus: In case of death of the life insured during the policy
a) The nominee (in case where life insured has died before term while the policy is in force, the nominee shall get a
maturity) or lumpsum benefit (as described below) immediately on
b) The policyholder (in case the life insured is alive as on death and the policy shall continue till the end of the
maturity date) policy term. Additionally, the Company shall fund all
Options to avail Vesting Benefit future due premiums after the date of death of the
Life Insured.
The policyholder will have the following options:
i) To utilize the entire vesting benefit to purchase immediate On each future premium due date(s), an amount equal
annuity or deferred annuity from the Company at the then to the instalment premium shall be credited to the
prevailing annuity rate or to commute up to 60% and utilize policyholder account by the Company in the same
the balance amount to purchase immediate annuity or proportion as the value of the total units held in each
deferred annuity from the Company at the then prevailing fund at the time of allocation.
annuity rate. The lumpsum benefit shall be 105 percent of the total
ii) To purchase immediate annuity or deferred annuity from Regular/Single Premiums received up to the date
another insurer at the then prevailing annuity rate to the of death
extent of percentage, as stipulated by the Authority,
currently 50%, of the entire proceeds of the policy net of In addition to this:
commutation 105 percent of the total Top-up premium paid up to the
In case the amount available to purchase immediate annuity is date of death is also payable provided the Policyholder
insufficient to purchase minimum annuity as allowed by IRDAI has a Top-Up Premium Fund Value.
regulations, as amended from time to time, such amount will The following conditions shall apply on death of Life Insured:
be paid to the policyholder in lumpsum.
• The Fund Value including Top up Fund Value, if any, will
Postponement of Vesting: remain invested in the respective funds and portfolio
On the date of vesting, in addition to the above, the strategies as on date of death of the Life Insured.
policyholder shall have an option to extend the accumulation
• Only the Fund Management Charge and Policy
period or deferment period within the same policy with the
Administration Charge will be levied. Life Insurance
same terms and conditions as the original policy, provided the
Cover will not apply and mortality charges will not be
policyholder is below an age of 60 years at the time of
deducted.
exercising this option.
3 4
• The nominee will be allowed to make Partial Options to avail Death Benefit
Withdrawals during the Policy Term and Surrender only In case of death of the insured during policy term, the nominee
after completion of the PPT. The nominee will also be shall exercise one of the following options:
allowed for performing fund switches. No other policy i) To utilize the entire proceeds of the policy or part thereof for
alterations will be allowed i.e the nominee will not be purchasing an immediate annuity or deferred annuity from
eligible for redirection of premium, effecting a change in the Company at the then prevailing rate. However, the
portfolio strategy, paying top up premiums, opting for nominee shall also have an option to purchase an
settlement option, increasing or decreasing premium immediate annuity or deferred annuity from another insurer
payment term, increasing or decreasing Sum Assured, at the then prevailing rate to the extent of percentage, as
increasing or decreasing policy term stipulated by the Authority, currently 50%, of the entire
proceeds of the policy net of commutation.
b) Where WoP on Death or ATPD is chosen:
ii) Withdraw the entire proceeds of the policy
On occurrence of earlier of death or ATPD of the life In case the death benefit is not sufficient to purchase
insured during the policy term while the policy is in minimum annuity as stipulated by the Authority from time to
force, the nominee shall get a lumpsum benefit (as time, the proceeds of the policy may be paid as lump sum
described below) immediately on occurrence of event
and the policy shall continue till the end of the policy Fund Enhancements
term. Additionally, the Company shall fund all future Online / Digital Discount
due premiums after the occurrence of event.
We may allow customers to initiate purchase of policies
On each future premium due date(s), an amount equal through ISNP mode (digital medium). For all such digital/online
to the instalment premium shall be credited to the sales, following additional benefits shall be applicable:
policyholder account by the Company in the same Option 1 – Smart Pension Secure:
proportion as the value of the total units held in each • Vesting Booster on the date of vesting
fund at the time of allocation. Option 2- Smart Pension Secure Plus:
The lumpsum benefit shall be 105 percent of the total • Loyalty Additions starting from end of 6th policy year Plus,
Regular/Single Premiums received up to the date • Vesting Booster on the date of vesting
of death
The Loyalty Additions or Vesting booster shall be defined as:
In addition to this: “x%” of the average of the Fund Values (Excluding Top-up
105 percent of the total Top-up premium paid up to the Fund Value) on the last business day of the last eight policy
date of death is also payable provided the Policyholder quarters will be added to the Fund value in the form of addition
has a Top-Up Premium Fund Value. of units.
The following condition shall apply on occurrence of death Where the “x%” is as follows:
or ATPD: Vesting Vesting Booster Loyalty Additions Vesting Booster
Year (applicable to (applicable to (applicable to
• The Fund Value including Top up Fund Value, if any, will
Option 1- Smart Option 2 – Smart under Option 2
remain invested in the respective funds and portfolio Pension Secure) Pension – Smart Pension
strategies as on date of death of the Life Insured. Secure Plus) Secure Plus)
• On the event of death, only the Fund Management 10 to 14 0.50% 1.25%
Charge and Policy Administration Charge will be 15 to 19 1.50% 0.10% every year 2.25%
deducted, and no other charges shall be applicable. starting from end
20 to 24 of 6th policy year
• On occurrence of ATPD event; the mortality, Fund 2.50% 3.25%
years till the end of
Management Charge and Policy Administration
Charge will be levied. No Morbidity charge will be >=25 policy term.
3.50% 4.25%
deducted thereafter years
• The nominee will be allowed to make Partial • The above will not be applicable in case of a Surrendered,
Withdrawals during the Policy Term and Surrender only Discontinued or Paid-up Policy, and will be payable
after completion of the PPT. The nominee will also be provided all due Regular Premiums/single premium under
allowed for performing fund switches. No other policy the Policy have been paid up to date.
alterations will be allowed i.e the nominee will not be • The above will be allocated to the Fund(s) in the same
eligible for redirection of premium, effecting a change in proportion of the Fund value as on the Vesting date
portfolio strategy, paying top up premiums, opting for • Loyalty Additions/Vesting Boosters are guaranteed
settlement option, increasing or decreasing premium non-negative amounts and shall not be revoked by the
payment term, increasing or decreasing Sum Assured, company provided the policy is in force and all due
increasing or decreasing policy term premiums have been paid till date.

5 6
Complete Annuity Booster: Partial Withdrawal Benefit
If the policyholder utilizes 100% of the Vesting Benefit to Subject to policy being in force (including when the policy is
purchase an annuity from the Company, then the company shall
add a Vesting Booster of 0.5% of the average of the Fund Values reduced paid up), Partial withdrawal will be available subject to
on the last business day of the last eight policy quarters. This will the following conditions:
be added to the Fund value in the form of addition of units. 1. Partial withdrawal can be made only after completion of 5
Benefit Illustration policy years.
Illustration 1 2. Shall not exceed 25% of the fund value at the time of partial
Mr. Sharma is a 45-year-old person, working at an MNC and is withdrawal.
looking forward to investing his money to accumulate wealth 3. Minimum amount allowed is R 6,000.
that he can use for his retirement. He then reaches out to Tata
AIA to buy Smart Pension Secure with Smart Pension Secure 4. Partial withdrawal is allowed only three times during the
option that will help him invest his money without any Premium entire term of the policy.
Allocation charge. With his investment of R 1,00,000, he gets
the below benefits throughout his policy term. 5. Partial withdrawals shall not be allowed which would result
The table below gives the Total Maturity Benefit for Mr. Sharma in termination of a contract.
aged 45 years at standard age: 6. The amount of partial withdrawal shall be treated as
• Fund Allocation: 100% in Flexi Growth Fund II preponement of the commuted portion of the surrender /
• Annualised Premium: 1,00,000
vesting benefit
• Mode of payment: Annual
Scenario Age Policy Term Premium Paying Annual Total Premium Fund Value Fund Value Annuity Value** Annuity Value**
(Years) (Years) Term (Years) Premium## (R) Payable (R) @ 8% (R) @ 4% (R) @8% (R) @4% (R)
1 45 25 25 1,00,000 25,00,000 58,67,906 33,10,773 5,93,946 3,34,652
2 45 20 10 1,00,000 10,00,000 24,75,637 13,47,052 2,28,844 1,24,337
*The premiums are excluding applicable taxes
** Annuity payable values shown are only for illustrative purposes only, actual
7. Partial withdrawal shall be allowed only against the
values will depend on the rates prevailing at the time of annuitization stipulated reasons:
• Higher education of children.
Illustration 2
• Marriage of children.
Mr. Shetty is a 45-year-old person who has just become a
father. He is looking forward to investing his money to • For the purchase or construction of residential house.
accumulate wealth for retirement and ensure that his family is • For treatment of critical illnesses of self or spouse.
financially secured in case of any unfortunate event. • Any other reason as per the IRDAI Circular/
He then reaches out to Tata AIA to buy Smart Pension Secure Guidelines/Regulations issued from time to time
with Smart Pension Secure Plus option that will help him invest Choose your investment strategy:
his money without any premium allocation charge. With an This product offers you the flexibility to invest in a manner that
investment of R 1,00,000, he gets the below benefits suits your investment risk profile and individual needs.
throughout the policy term. Additionally with Smart Pension
Secure Plus option, he is sure that his family is financially a) You can choose from a variety of funds
secured even if he is not around. OR
The table below gives the Total Maturity Benefit for Mr. Shetty b) Choose any one of the following PORTFOLIO
aged 45 years standard life: STRATEGIES
• Fund Allocation: 100% in Flexi Growth Fund II
i) Enhanced Systematic Money Allocation & Regular
• Annualised Premium: 1,00,000 Transfer (Enhanced SMART)
• Mode of payment: Annual
ii) Life-stage based Portfolio Strategy

Scenario Age Policy Term Premium Paying Annual Total Premium Fund Value Fund Value Annuity Value** Annuity Value**
(Years) (Years) Term (Years) Premium## (R) Payable (R) @ 8% (R) @ 4% (R) @8% (R) @4% (R)
1 45 25 25 1,00,000 25,00,000 45,34,713 23,78,798 4,58,760 2,40,186
2 45 20 10 1,00,000 10,00,000 21,42,390 11,03,309 1,97,985 1,01,766
*The premiums are excluding applicable taxes.
** Annuity payable values shown are only for illustrative purposes only, actual
values will depend on the rates prevailing at the time of annuitization

7 8
a) You can choose from a variety of funds Pension Fund, Multicap Momentum Quality Index Pension
Your allocable Regular/ Single Premium and Top- Ups (if any) Fund, Tax Bonanza Consumption Pension Fund, Top 200
are invested in one or more investment funds as per your Alpha 30 Index Pension Fund, Future Equity Pension Fund
chosen asset allocation. You have an option of choosing any or If you wish to diversify your risk, you can choose to allocate
all of the 11 Funds or such funds which are available at the time your premiums in varying proportions amongst the 11
of allocation, based on your preferred asset allocation. investment funds.
We offer 11 investment funds ranging from 100% debt to Our wide range of funds gives you the flexibility to redirect
100% equity to suit your particular needs and risk appetite – future premiums and change your premium allocation
Large Cap Equity Pension Fund, Flexi Growth Pension percentages from that point onwards. Also, you can switch
Fund, Mid Cap Opportunities Pension Fund, Income monies from one investment fund to another at any time.
Pension Fund, Dynamic Advantage Pension Fund, Alpha Switches must however be within the investment funds offered
50 Index Pension Fund, Midcap 150 Momentum 50 Index under this plan.

Investment Fund Fund Objective Risk Profile Asset Allocation Minimum Maximum
Equities and Equity
80% 100%
Large Cap Equity Linked Instruments
The primary investment objective of the Fund is to generate
Pension Fund Debt Instruments 0% 0%
long term capital appreciation from a portfolio that is invested High
(ULIF 079 01/01/25 Money Market Instruments,
predominantly in equity and equity linked securities.
LEP 110) Cash, Bank Deposits 0% 20%
and Mutual Funds
Equities and Equity
The primary investment objective of the Fund is to generate 70% 100%
Flexi Growth Linked Instruments
capital appreciation in the long term by investing in a portfolio
Pension Fund Debt Instruments 0% 10%
of stocks across market capitalization. The fund maintains High
(ULIF 080 01/01/25 Money Market Instruments,
flexibility to invest in carefully selected companies that offer
FPF 110) Cash, Bank Deposits 0% 30%
opportunities across large, mid or small capitalization space.
and Mutual Funds
Equities and Equity
Mid Cap 60% 100%
The primary investment objective of the Fund is to generate Linked Instruments
Opportunities
long term capital appreciation from a portfolio that is invested Debt Instruments 0% 0%
Pension Fund High
predominantly in Mid Cap Equity and Mid Cap Equity linked Cash / Money Market
(ULIF 081 01/01/25
securities Instruments, Bank Deposits 0% 40%
MOP 110)
and Mutual Funds
The primary investment objective of the Fund is to generate Equities and Equity
0% 0%
income through investing in a range of debt and money Linked Instruments
Income Pension
market instruments of various maturities with a view to Debt Instruments 60% 100%
Fund (ULIF 082 Low
maximizing the optimal balance between yield, safety and Cash / Money Market
01/01/25 IPF 110)
liquidity. The Fund will have no investments in equity or equity Instruments, Bank Deposits 0% 40%
linked instruments at any point in time and Mutual Funds
Equities and Equity
The primary investment objective of the Fund is to maximize 20% 80%
Linked Instruments
Dynamic Advantage the returns with medium risk. The fund will proactively allocate
Debt Instruments 20% 80%
Pension Fund (ULIF the corpus between Equity and Debt depending upon market
Medium Cash/ Money Market
083 01/01/25 DAP conditions and fluctuations that will provide security along
110) with adequate participation in the growth of the Indian Instruments (including
0% 20%
economy. CP/CD), Bank Deposits
and Mutual Funds
The primary investment objective of the Fund is to generate Equities and Equity
capital appreciation in the long term by investing in a portfolio 80% 100%
Alpha 50 Index Linked Instruments
Pension Fund (ULIF of stocks that are aligned to the Alpha 50 Index. The objective
High.
085 31/01/25 of the fund is to invest in companies with similar weights as in Cash and Money
NAP 110) the index and generate returns as closely as possible, subject 0% 20%
Market Securities.
to tracking error

9 10
 Investment Fund Fund Objective Risk Profile Asset Allocation Minimum Maximum
Midcap 150 Equities and Equity
The primary investment objective of the Fund is to generate 80% 100%
Momentum 50 Linked Instruments
capital appreciation in the long term by investing in a portfolio
Index Pension Fund High
of stocks that are aligned to the Midcap 150 Momentum 50 Cash and Money
(ULIF 086 28/02/25 0% 20%
Index. Market Securities.
MMP 110)
The primary investment objective of the Fund is to generate Equities and Equity
Multicap Momentum capital appreciation in the long term by investing in a portfolio 80% 100%
Linked Instruments
Quality Index of stocks that are aligned to the Multicap Momentum Quality
Pension Fund (ULIF High
Index. The objective of the fund is to invest in companies with Money Market Instruments,
087 31/03/25 MQP similar weights as in the index and generate returns as closely Cash, Bank Deposits 0% 20%
110) as possible, subject to tracking error. and Mutual Funds

The primary investment objective of the Fund is to generate Equities and Equity
Tax Bonanza 60% 100%
capital appreciation in the long term by investing in a Linked Instruments
Consumption diversified portfolio of companies which would benefit from
Pension Fund High Debt Instruments 0% 40%
India’s Domestic Consumption growth story. The Tax Bonanza
(ULIF 089 31/03/25 Consumption Fund could provide an investment opportunity Money Market Instruments,
TBP 110) in the theme of rising consumption power in India for long Cash, Bank Deposits 0% 40%
term returns and Mutual Funds
Equities and Equity
80% 100%
The primary investment objective of the Fund is to generate Linked Instruments
Top 200 Alpha 30
capital appreciation in the long term by investing in a portfolio
Index Pension Fund Debt Instruments NA NA
of stocks indexed to the Nifty 200 Alpha 30 Index. The fund High
(ULIF 091 30/06/25
will invest 80%-100% in Equity and Equity related instruments Money Market Instruments,
TAP 110)
and 0%-20% in Cash and Money Market Securities Cash, Bank Deposits 0% 20%
and Mutual Funds
Equities and Equity
60% 100%
The primary investment objective of the fund is to generate Linked Instruments
Future Equity
long term capital appreciation from a portfolio that is invested
Pension Fund (ULIF Debt NA NA
predominantly in equity and equity linked securities. High
020 04/02/08 FEP
110) Cash/ Money Market
Instruments, Bank Deposits 0% 40%
and Mutual Funds

Equity Derivative for Hedging Purpose: • The remaining R (55,00,000 – 11,00,000) = R 44,00,000
remains unhedged.
While creating a diversified portfolio helps reduce stock specific
risks, however, to protect the portfolio returns from systematic Now say the market falls by 10% and as a result, the Index
risks the fund may resort to hedging through Index/Stock Futures also falls by 10%. Now let us assume that the value of
Futures or Index/Stock options as stipulated by IRDAI. This the portfolio also falls by 10%.
would help to reduce market risk and volatility for policy holders. Hence,
Illustration of Futures: • Loss from portfolio = (10% of R 55,00,000) = R 5,50,000.
Assume a portfolio of R 55 lakh. If we anticipate volatility in the • Profit from the short position in Index Futures = (10% of
markets, we may hedge the portfolio with Index futures as per 11,00,000) = R 1,10,000.
IRDAI guidelines. For example, we hedge the portfolio by • Hence the overall loss gets reduced to R (5,50,000 –
selling Index futures of Nifty50. 1,10,000) = R 4,40,000. This was only possible because
Let’s say the current of Nifty50 is 22000 and the lot size is 50, the portfolio was carefully hedged with Index Futures
Hence, the value of 1 lot of Nifty50 is (22000*50) = before the market crash.
R 11,00,000. Similar illustration would be applicable in the case of selling
Since we are holding a long position in the stock portfolio, we stock futures.
will have to take an opposite position to hedge it. Illustration of stock options:
• Therefore, sell 1 lot of Nifty50 Index futures worth Assuming a scenario wherein we are long on a particular stock
R 11,00,000
11 12
“A” in the cash market. The price is R 200 and we are holding The various funds offered under this product are the names of
10000 shares of the same which amounts to a portfolio of the funds and do not in any way indicate the quality of these
R 20,00,000. funds, their future prospects and returns
Due to uncertainty in the market, we expect adverse impact on In case of exceptional circumstances/force majeure events,
the stock price. As per IRDAI guidelines we can buy a put investment in Cash / Money Market Instruments in all above
option of that stock in the derivatives market. funds may go up to 100%, subject to prior approval of IRDAI.
Exceptional circumstances may include:
Let’s understand with 3 cases:
• when one or more stock exchanges which provide a basis
We initially assumed that we bought the stock for R 200 in the
for valuation of the assets of the fund are closed otherwise
cash market.
than for ordinary holidays.
Case 1: The stock price moves up to R 220
• when, as a result of political, economic, monetary or any
In such a situation, we make a profit of R 20 in the cash market circumstances which are not in the control of the
since we had purchased the stock at a price of R 200. Company, the disposal of the assets of the fund would be
However, we shall lose the money which we paid to buy Put detrimental to the interests of the continuing policyholders.
options which is R 5 giving us a net profit of R 15.
• in the event of natural calamities, strikes, war, civil unrest,
Case 2: The stock price falls to R 180 riots and bandhs.
In such a scenario, we shall have a loss of R 20 in the cash • in the event of any force majeure or disaster that affects the
market and make a profit of R 20 in the derivatives market. normal functioning of the Company
Thereby making a net loss of R 5 which is the premium paid
initially to buy the Put options. Force Majeure Provisions
Case 3: The stock price remains unchanged at R 200 a) The Company shall value the Funds (SFIN) on each day for
which the financial markets are open. However, the
In the 3rd case, we shall have no gain or loss in the cash Company may value the SFIN less frequently in extreme
market. However, we shall lose the money paid as a premium circumstances external to the Company i.e. in force
essentially making a net loss of R 5. majeure events, where the value of the assets is too
Similar illustration will be applicable in case of selling an uncertain. In such circumstances, the Company may defer
Index option. the valuation of assets for up to 30 days until the Company
is certain that the valuation of SFIN can be resumed.
We will be abiding by the exposure limits as prescribed by
IRDAI guidelines. b) The Company shall inform IRDAI of such deferment in the
valuation of assets. During the continuance of the force
Although the funds are open ended, the Company may, as per majeure events, all request for servicing the policy including
Board approved policy and subject to prior approval from policy related payment shall be kept in abeyance.
IRDAI, completely close any of the funds. You will be given at
least three months’ prior written notice of our intention to close c) The Company shall continue to invest as per the fund
any of the Funds completely or partially except in ‘Force mandates as chosen by You. However, the Company shall
Majeure’, where the company may give a shorter notice. reserve its right to change the exposure of all or any part of
the Fund to Money Market Instruments [as defined under
In case of complete closure of a Fund, on and from the date of
Regulations 2(j) of IRDAI (Investment) Regulations, 2016] in
such closure, Tata AIA Life Insurance shall cease to issue and
circumstances mentioned under points (a and b) above.
cancel units of the said Fund and cease to carry on activities in
The exposure to of the Fund as per the fund mandates as
respect of the said Fund, except such acts as are required to
chosen by You shall be reinstated within reasonable
complete the closure. In such an event if the Units are not
timelines once the force majeure situation ends.
switched to another Fund by you, Tata AIA Life Insurance will
switch the said units to any other appropriate Fund with similar d) In such an event, an intimation of such force majeure event
characteristics as per Board approved policy, with due shall be uploaded on Our website for information.
weightage for the respective NAVs at the time of switching.
Discontinued Pension Policy Fund:
The NAV of the segregated funds shall be computed as:
The investment objective for Discontinued Pension Policy Fund
Market value of investment held by the fund + value of current is to provide capital protection and a minimum return as per
assets - (value of current liabilities and provisions, if any) regulatory requirement with a high level of safety and liquidity
------------------------------------------------------------------------ through judicious investment in high quality short-term debt.
Number of units existing on Valuation Date (before The strategy is to generate better returns with low level of risk
creation/redemption of units) through investment in fixed interest securities having short term

13 14
maturity profile. The risk profile of the fund is very low. There is A portion of total units in the chosen debt-oriented fund
a minimum guarantee of interest @ 4% p.a. or as prescribed by shall be switched automatically into the chosen
IRDAI from time to time equity-oriented fund in the following way:
Asset allocation: Monthly Enhanced SMART
Policy Month 1 1/12 of the units available at the
Instrument Allocation beginning of Policy Month 1
Debt Instruments (Government Securities and
60% -100% Policy Month 2 1/11 of the units available at the
Corporate Debt)
beginning of Policy Month 2
Money Market Instruments, Bank Fixed Deposits, ..........................
0% - 40%
Cash & Mutual Funds
Policy Month 6 1/ 7 of the units available at the
b) Choose from the following PORTFOLIO STRATEGIES: beginning of Policy Month 6
..........................
i) Enhanced Systematic Money Allocation & Regular
Transfer (Enhanced SMART) Policy Month 11 ½ of the units available at the
beginning of Policy Month 11
This option is applicable till PPT only. Enhanced SMART
Policy Month 12 Balance units available at the
strategy is not available with top-up premium fund. beginning of Policy Month 12
Enhanced SMART is a systematic transfer plan. It The following are the notable features of Enhanced SMART: -
allows you to enter the volatile equity market in a
• Enhanced SMART can be availed by you, exercisable
structured manner Under Enhanced SMART, you need
at policy inception or on any policy anniversary. A
to choose two funds, a debt-oriented fund and an
written request to commence, change or restart
equity-oriented fund. Please refer to table below for the Enhanced SMART should be received 30 days in
choice of available funds: advance of the policy anniversary. The request shall
Debt Oriented Funds Equity Oriented Funds take effect on the following policy anniversary. Once
Income Pension Fund Large Cap Equity Pension Fund chosen the strategy will be applicable for future
premiums for all the premium payment terms except
Flexi Growth Pension Fund
single premium.
Mid Cap Opportunities Pension Fund
• Request for commencement, change or restart of
Alpha 50 Index Pension Fund Enhanced SMART will be subject to all due premiums
Midcap 150 Momentum 50 Index being paid.
Pension Fund • Enhanced SMART option is available only to the
Multicap Momentum Quality Index policies with the annual/single mode of payment.
Pension Fund
• Enhanced SMART is free of any charge.
Tax Bonanza Consumption Pension Fund
• Policyholder will have the option to stop the Enhanced
Top 200 Alpha 30 Index Pension Fund SMART at any point of time by a written request and it
Future Equity Pension Fund shall take effect from the next Enhanced SMART
Through Enhanced SMART, your entire annual/single switching that follows the Company’s receipt.
allocable premium will be parked in the chosen • Manual fund switching for the two funds selected for
debt-oriented fund along with any existing units in that activation of Enhanced SMART is not allowed. Manual
fund, if any. These combined units in the chosen fund switching is allowed on other available funds. For
Top-up premiums, manual switching option will be
debt-oriented fund will be systematically transferred on
available at applicable charges.
a monthly basis to the chosen equity-oriented fund. All
your future allocable premiums will also follow the same • Any amount remaining in regular premium funds other
pattern as long as Enhanced SMART is active on your than the two funds selected for activation of Enhanced
SMART, would continue to remain invested in
plan. Switching to/from the Enhanced SMART funds to
those funds.
other available funds is not allowed.
• Enhanced SMART Option will not be available during
Thus, while the stock market remains volatile and Discontinuance of Premium. On revival of the policy,
unpredictable, Enhanced SMART strategy offers a you can opt for Enhanced SMART again.
systematic way of rupee cost averaging. However, all
• In Case of Single Premium option:
investments through this option are still subject to
investment risks, which shall continue to be borne o Enhanced SMART strategy can only be opted for
by you. at policy inception.

15 16
 o Enhanced SMART strategy will be applicable for The percentage allocation to equity fund according to
policy year 1 only. age and risk profile is as given below. The remaining
o From the end of year 1, the amount will remain percentage allocation out of 100% shall be in the
invested in the Equity oriented fund as chosen by debt fund.
customer under Enhanced SMART strategy. Age Group Risk Profile
o You have an option to do manual fund switching to Aggressive Moderate Conservative
other available funds after the end of policy year 1. 1-30 90% 70% 50%
The Company may cease offering Enhanced SMART 31-40 80% 60% 50%
by giving 30 days of written notice subject to prior
41-50 70% 50% 30%
approval of Insurance Regulatory and Development
Authority of India. 51-60 55% 35% 15%
ii) Life-Stage based Portfolio Strategy 61-70 40% 20% 0%
71 & above 25% 5% 0%
Under the Life-stage based Portfolio Strategy,
Policyholder’s portfolio will be structured as per age Units shall be rebalanced as necessary to achieve the
and risk profile selected by Policyholder (Conservative,
above proportions of the Fund Value in the equity fund
Moderate or Aggressive).
and the debt fund. The re-balancing of units shall be
Under Life-Stage based strategy, the Policyholder done on the last day of each Policy quarter.
needs to choose two funds, a debt-oriented fund and
an equity-oriented fund. Please refer to table below for The following are the notable features of Life-Stage Based
the choice of available funds: Strategy: -
Debt Oriented Funds Equity Oriented Funds • The Life-Stage Based strategy can be availed by
Income Pension Fund Large Cap Equity Pension Fund Policyholder, exercisable at policy inception or on any
policy anniversary. A written request to commence,
Flexi Growth Pension Fund
change or restart Life-Stage Based Strategy should be
Mid Cap Opportunities Pension Fund
received 30 days in advance of the policy anniversary.
Alpha 50 Index Pension Fund The request shall take effect on the following policy
Midcap 150 Momentum 50 Index anniversary.
Pension Fund
• Request for commencement, change or restart of the
Multicap Momentum Quality Index
Pension Fund
strategy will be subject to all due premiums being paid.
Tax Bonanza Consumption Pension Fund • Life-Stage Based Strategy is free of any charge.
Top 200 Alpha 30 Index Pension Fund • Policyholder will have the option to stop the Life-Stage
Future Equity Pension Fund Based Strategy at any point of time by a written
request at least 30 days prior to policy anniversary and
Through this strategy, Policyholder’s allocable premium the strategy shall stop at the following policy
will be parked in the chosen equity oriented and anniversary.
debt-oriented fund in a predetermined proportion
• Manual fund switching or Premium- Redirection shall
based on the selected risk profile and age.
not be allowed under this strategy.
As Policyholder ages, Policyholder’s Fund value will be
• Life-Stage Based Strategy Option will not be available
shifted automatically from chosen equity-oriented fund
during Discontinuance of Premium. On revival of the
to chosen debt-oriented fund according to then
policy, the Policyholder can opt for Life-Stage Based
applicable Equity-Debt proportion as per the age group.
Strategy again.
If opted for this strategy, Policyholder shall not be
Tracking and Assessing Your Investments
allowed to exercise the Premium-Redirection or
Fund-Switching option. You can monitor your investments.
However, Policyholder will have an option to opt out of • On our website ([Link]);
this strategy anytime during the Policy Term, by • Through the annual statement detailing the number of
notifying the company at least 30-days prior to the units you have in each investment fund and their
policy anniversary. Policyholder will be allowed to respective then prevailing NAV; and
exercise free Switches or Premium Redirection options
• Through the published NAVs of all investment funds on
after opting out of this strategy.
our website and Life council’s website.

17 18
Other benefits available under the plan Any minimum and maximum sum assured limits on all the
above unit-deducting and/or premium-paying riders will remain
Top-up Facility applicable, irrespective of the fact that lower or higher sum
• Single Premium Top-ups will be allowed during the period assured might be chosen as the base cover under this plan.
of policy term, provided premiums are paid up to date.
The sum assured for any attaching rider(s) will not exceed the
• Top-up premiums once paid cannot be withdrawn from the Basic Sum Assured except for accidental death benefit rider.
fund for a period of 5 years from the date of acceptance of
the `Top-up' premium. This rule is not applicable in case of The rider(s) shall be attached with the base plan in compliance
complete withdrawal/termination of policy. with Regulation 8 of IRDAI (Insurance Products) Regulations,
• Top-up Premiums are subject to charges as described 2024 as specified.
under charges section If there is an overlapping benefit between the Base product
• Top-up premiums can be allocated in any proportion and any of the benefit option under the named riders, that
between the funds offered as chosen by the Policyholder benefit option of the rider shall not be offered.

Flexibility of Premium Mode Settlement Option

You may choose to pay your premiums Annually, Upon Death of the policyholder, the nominee has an option to
Semi-annually, Quarterly, Monthly or even single time as per opt for the settlement option. This option is provided to defer
your convenience as per table below subject to minimum the utilisation of accumulated fund, in case of adverse
premium conditions for each mode conditions for the nominee – in terms of depressed market
conditions in years prior to death or lower annuity rates being
Monthly 0.0833333 times of Annualised Premium offered, etc.
Quarterly 0.25 times of Annualised Premium
The period of settlement shall not, in any case, be extended
Semi-Annually 0.50 times of Annualised Premium
beyond a period of five years from the date of death.
Annually 1 times of Annualised Premium
The fund value can be utilised as per IRDAI guidelines.
Switching Between the Funds This option is not available in case of Smart Pension Secure
During the policy term, you may switch your investment or part Plus option.
of investment from one fund to another as per your outlook Switches may be allowed during the settlement period. Partial
about the markets. Switching may be restricted if the withdrawals shall not be allowed during this period.
Enhanced SMART/ Life-stage based portfolio strategy is
During this period, only Fund Management Charges and
chosen. Please refer to Choose your Investment Strategy
Mortality Charges will be deducted as due. No other charges
section for details. Any number of switches are allowed in a
shall be levied.
policy year and are available at no additional cost.
At any time during the Settlement Period, the Policyholder
You may send the Company a written request to switch
Nominee has the option to withdraw the Total Fund Value at
investment between available Funds. The written request must
any time without any additional charges levied. The withdrawal
specify the Fund(s) from which Units are to be redeemed and
of total fund value can be utilised as per the regulatory
the Fund(s) to which Units are being allocated.
guidelines.
Premium Re-direction During this Settlement Period, the investment risk will be borne
Premium Re-direction facility helps you to allocate future by the Policyholder
premiums to a different fund or set of funds. There is no
NAV Calculations
Premium-Redirection charge. Premium Re-direction will not be
allowed if Enhanced SMART is chosen. The Net Asset Value (NAV) of the segregated funds shall be
computed as:
Flexibility of Additional Coverage
Market value of investment held by the fund + value of current
The set of unit-deducting riders are as below: assets - (value of current liabilities and provisions, if any)
• Tata AIA Health Secure (UIN: 110A050V01 or any ------------------------------------------------------------------------
later version) Number of units existing on Valuation Date (before
Riders can be attached at policy inception or any policy creation/redemption of units)
anniversary of the base plan subject to the rider premium The Net Asset value (NAV) will be determined and published
payment term and the policy term shall not be more than the daily in various financial newspapers and will also be available
outstanding premium payment term and outstanding policy on [Link], the official website of Tata AIA Life. All
term for the base plan.
19 20
you have to do is multiply the number of Units you have with All such discontinued policies shall be provided a revival period
the published NAV to arrive at the value of your investments. of three years from date of first unpaid premium. On such
discontinuance, TATA AIA shall communicate the status of the
Credit/Debit of Units
policy, within three months of the first unpaid premium, to the
Premiums received, will be used to purchase Units at the NAV policyholder and provide the option to revive the policy within
according to Policyholder’s instruction for allocation of the revival period of three years. The policyholder will have
Premium. Units purchased by Premium and Top-Up Premium
three options thereafter:
will be deposited into the Regular/Single Premium Fund Value
and Top-Up Premium Fund Value respectively. 1) Revival of Policy: In case the policyholder opts to revive but
Where notice is required (Partial Withdrawal, Complete does not revive the policy during the revival period, the
withdrawal or death of the Insured), Units being debited shall proceeds of the discontinued pension policy fund shall be
be valued by reference to their NAV as specified in the section paid to the policyholder at the end of the revival period or
“Cut-off time for determining the appropriate valuation date” lock-in period whichever is later. In respect of revival period
under Fund Provisions. ending after lock-in period, the policy will remain in
discontinuance fund till the end of revival period. The Fund
Cut-off time for determining the appropriate valuation date
management charges of discontinued pension policy fund
The appropriate business day at which NAV will be used to will be applicable during this period and no other charges
purchase or redeem Units shall be determined in the will be applied.
following manner: -
2) Continue the policy till revival period: In case the
a) Purchase & Allocation of Units in respect of Premiums
received or Fund Value(s) switched in: policyholder does not exercise the option as set out above,
the policy shall continue without any risk cover and rider
• If the premiums, by way of cash or a local cheque or a
cover, if any, and the policy fund shall remain invested in the
demand draft payable at par or the request for
discontinued pension policy fund. At the end of the lock-in
switching in Fund Value(s) is/are received by us at or
before 3:00 p.m. of a business day at the place where period, the proceeds of the discontinuance fund shall be
these are receivable, NAV of the date of receipt or the paid to the policyholder and the policy shall terminate. The
due date, whichever is later shall apply. Fund management charges of discontinued pension fund
• If the premium/s, by way of cash or a local cheque or a will be applicable during this period and no other charges
demand draft payable at par or the request for will be applied.
switching in Fund Value(s) is/are received by us after 3) Complete withdrawal of Policy: The policyholder has an
3:00 pm of a business day, at the place where these are option to surrender the policy anytime and proceeds of the
receivable, NAV of the next business day following the discontinued policy shall be payable at the end of lock-in
receipt or the due date, whichever is later shall apply. period or date of surrender whichever is later.
• If the premium/s is received by us by way of an The vested amount shall be utilised in accordance with
outstation cheque/outstation demand draft, NAV of the regulatory guidelines (mentioned in options to utilize vesting
date of on which these instruments are realized
benefit).
shall apply.
b) Sale & Redemption of Units in respect of withdrawals, The waiver of premium benefit under Smart Pension Secure
surrender, Fund Value(s) switched out, death claim: Plus option will not be applicable if the policy is in discontinued
status and/or reduced paid-up status.
• If a valid request/application is received by us at or
before 3:00 pm of a business day, NAV of the date of For Single Pay
receipt shall apply. The policyholder has an option to surrender any time during the
• If a valid request/application is received by us after 3:00 lock-in period. Upon receipt of request for surrender, the fund
pm of a business day, NAV of the next business day value, after deducting the applicable discontinuance charges,
following the receipt shall apply. shall be credited to the discontinued pension policy fund.
Discontinuance of Premiums The policy shall continue to be invested in the discontinued
pension policy fund and the proceeds from the discontinuance
a) Within the lock-in period:
fund shall be paid at the end of lock-in period which may be
For Regular/ Limited Premium Policies: utilized as per provisions by the Regulatory Authority. Only fund
Upon expiry of the grace period, in case of discontinuance of management charge can be deducted from this fund during
policy due to non-payment of premium, the fund value after this period. Further, no risk cover shall be available on such
deducting the applicable discontinuance charges, shall be policy during the discontinuance period.
credited to the discontinued pension policy fund and the risk
cover and rider cover, if any, shall cease.
21 22
“Proceeds of the discontinued policies” means the fund (1) To revive the policy within the revival period of three years,
value as on the date the policy was discontinued, after addition or
of interest computed at the minimum guaranteed interest rate. 2) Continue the policy till the revival period
Revival of a discontinued policy during lock-in period 3) Complete withdrawal of the policy
Upon revival, the policy shall be revived restoring the risk cover, The Waiver of premium benefit under Smart Pension Secure
along with the investments made in the segregated funds as Plus option, will not be applicable if the policy is in the reduced
chosen by the policyholder, out of the discontinued fund, less paid-up status.
the applicable charges. In case the policyholder opts for 1) but does not revive the policy
At the time of revival, we shall: during the revival period, the fund value (including any Top-Up
fund value) shall be paid to the policyholder at the end of the
i) collect all due and unpaid premiums without charging any
revival period subject to Regulatory guidelines.
interest or fee
The death benefit during the revival period shall be as
ii) collect policy administration charge and premium
mentioned in death benefit section.
allocation charge as applicable during the discontinuance
period. Guarantee charges, if applicable, during the The policy shall terminate on the death of Life Insured.
discontinuance period, may be deducted provided the In case the policyholder opts 2), i.e., to continue the policy
guarantee continues to be applicable. No other charges till revival period, the fund value after deducting mortality
shall be levied. charges shall be payable at end of revival period subject to
Regulatory Guidelines.
iii) add back to the fund, the discontinuance charges
deducted at the time of discontinuance of the policy. The death benefit during the revival period shall be as
mentioned in death benefit section
Segregated Discontinued Pension Policy Fund
The policy shall terminate on the death of Life Insured.
The discontinued pension policy fund shall be a segregated
unit fund. Only fund management charges shall be applicable In case the policyholder opts 3), i.e., to withdraw the policy
on such funds. The fund management charge on discontinued completely, then the policy will be surrendered, and the fund
pension policy fund shall be declared by IRDAI from time to value (including any Top-Up fund value) shall be paid to the
time. Currently, the fund management charge shall not exceed Policyholder subject to regulatory guidelines.
50 basis points per annum. In case the policyholder does not exercise any option as set out
Minimum Guaranteed Interest Rate above, the policy shall continue to be in reduced paid up status.
The minimum guaranteed interest rate applicable to the At the end of the revival period the proceeds of the policy fund
discontinued pension fund shall be declared by IRDAI from shall be paid to the policyholder subject to Regulatory
time to time. The current minimum guaranteed interest rate guidelines and the policy shall terminate.
applicable to the discontinued fund is 4% per annum. The death benefit during revival period shall be as mentioned in
The excess income earned in the discontinued pension fund death benefit section.
over and above the minimum guaranteed interest rate shall The policy shall terminate on the death of Life Insured.
also be apportioned to the discontinued pension policy fund in However, the policyholder has an option to surrender the policy
arriving at the proceeds of the discontinued policies and shall anytime and proceeds of the policy fund shall be payable
not be made available to the shareholders.
subject to regulatory guidelines for payout on surrender.
b) After the lock-in period: For Single Pay:
For Regular/ Limited Premium Policies: The policyholder has an option to surrender the policy any
Upon expiry of the grace period, in case of discontinuance of time. Upon receipt of request for surrender, the fund value as
policy due to non-payment of premium after lock-in period, the on date of surrender shall be payable subject to regulatory
policy shall be converted into a reduced paid-up policy. The guidelines for payout on surrender.
policy shall continue to be in reduced paid-up status without Revival of a discontinued policy after lock-in period
rider cover, if any. All charges as per terms and conditions of
the policy may be deducted during the revival period. However, Upon revival, the policy shall be revived restoring the original
the mortality charges shall be deducted based on the reduced risk cover, benefits and charges in accordance with the terms
paid-up sum assured only. and conditions of the policy.
On such discontinuance, TATA AIA shall communicate the At the time of revival, we:
status of the policy, within three months of the first unpaid i) shall collect all due and unpaid premiums under base plan
premium, to the policyholder and provide the following options: without charging any interest or fee

23 24
ii) shall not levy any other charges. 3) Policyholder shall also be given an option to purchase
Reduced Paid Up immediate annuity or deferred annuity from another insurer
at the then prevailing annuity rate to the extent of
As per section "Discontinuance of Premium: b) After the
percentage, as stipulated by the Authority, currently 50%,
lock-in period" above.
of the entire proceeds of the policy net of commutation.
Reduced paid-up sum assured = 105% of Total Premiums Paid
For points 1) and 2), the purchase of annuity shall be subject to
Complete Withdrawal / Surrender of the Policy terms and conditions under the product. In case the proceeds
of the policy either on surrender or vesting, net of
Within the Lock-in Period
commutation, is not sufficient to purchase minimum annuity as
In case of surrender during the first five years, surrender value specified in regulatory guidelines, such proceeds of the policy
shall become payable only after the completion of the lock-in may be paid to the policyholder or beneficiary as lump sum.
period. Upon receipt of request for surrender, the fund value,
Lock-in period means the period of 5 consecutive completed
after deducting the applicable discontinuance charges, shall
years from the date of commencement of the policy, during
be credited to the discontinued pension policy fund.
which period the proceeds of the policies cannot be paid by
The policy shall continue to be invested in the discontinued the insurer to the policyholder or to the insured, except in the
policy fund and the ‘Proceeds of the Discontinued Policy’ i.e. case of death or upon the happening of any other contingency
the Fund Value as on the date of discontinuance plus entire covered under the policy.
income earned after deduction of the fund management
charges, subject to a minimum guarantee of interest @ 4% p.a. Charges Applicable
or as prescribed by IRDAI from time to time can be utilized after Premium Allocation Charge
the lock-in period. Proceeds from the discontinuance fund
There are no Premium Allocation Charge(s) on base premium
shall be paid at the end of lock-in period subject to options
and Top-up premium.
available on surrender given below. Only fund management
charge can be deducted from this fund during this period. Policy Administration Charge
Further, no risk cover shall be available on such policy during Single Pay: 0.025% of Single premium per month with
the discontinuance period. maximum capping of INR 500.
In case of death of Insured during this period the nominee can Limited Pay/Regular Pay: 0.25% of annualized premium per
exercise one of the following options - month with maximum capping of INR 500.
i) To utilize the entire proceeds of the policy or part thereof for In case of Online and Digital Sales, no policy administration
purchasing an immediate annuity or deferred annuity from charges are applicable after 10th policy year.
the Company at the then prevailing rate. However, the Fund Management Charge
nominee shall also have an option to purchase an
immediate annuity or deferred annuity from another insurer Funds FMC
at the then prevailing rate to the extent of percentage, as per annum
stipulated by the Authority, currently 50%, of the entire Large Cap Equity Pension Fund 1.35%
proceeds of the policy net of commutation. Flexi Growth Pension Fund 1.35%
ii) Withdraw the entire proceeds of the policy Mid Cap Opportunities Pension Fund 1.35%
Income Pension Fund 0.80%
After Lock-in Period
Dynamic Advantage Pension Fund 1.35%
After the lock-in period, the surrender value shall be equal to
Alpha 50 Index Pension Fund 1.35%
the fund value as on the date of surrender for both single and
Midcap 150 Momentum 50 Index Pension Fund 1.35%
regular pay.
Multicap Momentum Quality Index Pension Fund 1.35%
The following options shall be available to the policyholder on
Tax Bonanza Consumption Pension Fund 1.35%
the date of surrender:
Top 200 Alpha 30 Index Pension Fund 1.35%
1) To utilize the entire proceeds to purchase immediate Future Equity Pension Fund 1.25%
annuity or deferred annuity from the company at the then
prevailing annuity rate. Fund Management Charges are subject to revision by
Company with prior approval of IRDAI but shall not exceed
2) To commute up to 60% and utilize the balance amount to
1.35% per annum of the Fund value which is the maximum limit
purchase immediate annuity or deferred annuity from the
currently specified by the Authority and can change from time
same insurer at the then prevailing annuity rate.
to time.

25 26
A Fund Management Charge of 0.50% p.a. shall be charged b) Where WoP on Death or ATPD is chosen:
on Discontinued Policy Fund. The current cap on Fund Factor A * Annualised Premium * applicable Mortality
Management Charge (FMC) for Discontinued Policy Fund is Rate for the month, based on the attained age of
0.50% p.a. and shall be declared by the Authority from time the insured.
to time.
Plus
Mortality Charge
Factor A * Annualised Premium * applicable Morbidity
The Mortality Charge shall be deducted by cancelling Units at Rate for the month, based on the attained age of
the current NAV, from the Fund value of the Policy at the the insured.
beginning of each policy month. In case of the Top-Up Sum
Assured, the same will be deducted from the Top-Up Premium Where Factor A represents the present value of future
Fund Value. If the Fund Value is insufficient, then mortality premiums payable annually at 5% p.a
charge will be deducted from the Top-Up Premium Fund Value, For non-annual premium payment mode, Factor A is
if any and vice-versa. increased by adding 0.5 to the applicable annual factor.
Mortality charge = Sum at Risk (SAR) multiplied by the SAR in each month for Top-Up Account is Top-Up Sum
applicable Mortality Rate for the month, based on the attained Assured from the relevant Top-Up Premium Fund Value
age of the insured. The Mortality and Morbidity Charges will be guaranteed for
SAR is defined as: the policy term.
1. Option 1 – Smart Pension Secure: The Company may alter all the above charges (except
SAR in each month for Regular Account is the difference Mortality/Morbidity Charge which is guaranteed throughout
between: the term) by giving an advance notice of at least 3 months to
the Policyholder subject to prior approval of IRDAI and will
a) 105% times total premium paid Less partial
have prospective effect.
withdrawals made during the two-year period
immediately preceding the death of the life assured SAR for Reduced Paid-up Policies
and The SAR in each month for policies in reduced paid-up
b) Single / Regular Premium Fund Value at the time of status is the difference between:
deduction of Mortality Charge a) 105% times total premium paid Less partial
Sum at Risk (SAR) in each month for Top-Up Account is withdrawals made during the two-year period
the difference between: immediately preceding the death of the life assured
a) Top-Up Sum Assured from the relevant Top-Up and
Premium Fund Value b) Fund Value at the time of deduction of Mortality Charge
and
Sum at Risk (SAR) in each month for Top-Up Account is
b) Top-up Premium Fund Value at the time of deduction of the difference between:
Mortality Charge.
a) Top-Up Sum Assured, from the relevant Top-Up
2) Option 2 – Smart Pension Secure Plus: Premium Fund Value
SAR in each month for Regular Account is: and
105% times total premium paid b) Top-up Premium Fund Value at the time of deduction of
SAR in each month for Top-Up Account is Top-Up Sum Mortality Charge.
Assured from the relevant Top-Up Premium Fund Value
Discontinuance Charge
In addition to the above, an additional mortality charge for
Waiver of Premium shall be deducted by cancelling Units at You can discontinue paying premium anytime during the policy
the current NAV, from the Fund value of the Policy at the term by intimating to the company. However, when the request
beginning of each policy month, which will be calculated as: for discontinuance from the policy is within the lock-in period of
5 years from policy inception, total fund value, net of
a) Where only WoP on Death is chosen:
discontinuance charges as on the date of discontinuance shall
Factor A * Annualised Premium * applicable Mortality be put in the ‘Discontinued Pension Policy Fund’. The
Rate for the month, based on the attained age of ‘Proceeds of the Discontinued Policy’ i.e. the fund value as on
the insured.
the date of discontinuance plus entire income earned after
Where Factor A represents the present value of future deduction of the fund management charges, subject to a
premiums payable annually at 5% p.a minimum guarantee of interest @ 4% p.a. or as prescribed by

27 28
IRDAI from time to time shall be paid to the Policyholder only Where the policy Maximum Discontinuance Charges for
after completion of the lock-in period. is discontinued the policies having annualized
The following table shows discontinuance charges applicable during the premium up to r 50,000/-
policy year
for Single Pay Option
Lower of 10% of Annualised Premium or
Where the policy Maximum Discontinuance Charges for 3 Regular Premium Fund Value subject to a
is discontinued the policies having Single Premium maximum of R 1500/-
during the up to R 3,00,000/-
policy year Lower of 5% of Annualised Premium or
4 Regular Premium Fund Value subject to a
Lower of 2% of Single Premium or Single maximum of R 1000/-
1 Premium Fund Value subject to a maximum of 5 and onwards Nil
R 3000/-
Lower of 1.5% of Single Premium or Single Where the policy Maximum Discontinuance Charges for
2 Premium Fund Value subject to a maximum of is discontinued the policies having annualized
R 2000/- during the premium above R 50,000/-
policy year
Lower of 1% of Single Premium or Single
3 Premium Fund Value subject to a maximum of Lower of 6% of Annualised Premium or
R 1500/- 1 Regular Premium Fund Value subject to a
maximum of R 6000/-
Lower of 0.5% of Single Premium or Single
4 Premium Fund Value subject to a maximum of Lower of 4% of Annualised Premium or
R1000/- 2 Regular Premium Fund Value subject to a
maximum of R 5000/-
5 and onwards Nil
Lower of 3% of Annualised Premium or
Where the policy Maximum Discontinuance Charges for 3 Regular Premium Fund Value subject to a
is discontinued the policies having Single Premium maximum of R 4000/-
during the above R 3,00,000/- Lower of 2% of Annualised Premium or
policy year 4 Regular Premium Fund Value subject
Lower of 1% of Single Premium or Single maximum of R 2000/-
1 Premium Fund Value subject to a maximum of 5 and onwards Nil
R 6000/- There are no discontinuance charges applicable on Top-Up
Lower of 0.70% of Single Premium or Single Premium fund value The maximum discontinuance charge shall
2 Premium Fund Value subject to a maximum of not exceed the limits as decided by IRDAI from time to time.
R 5000/-
Partial Withdrawal Charge
Lower of 0.50% of Single Premium or Single
3 Premium Fund Value subject to a maximum of There are no partial withdrawal charges under this plan.
R 4000/-
Fund Switching Charge
Lower of 0.35% of Single Premium or Single
4 Premium Fund Value subject to a maximum of There are no fund switching charges.
R 2000/- Miscellaneous Charge:
5 and onwards Nil Nil
The following table shows discontinuance charges applicable Premium Re-direction Charge
for Regular / Limited Pay Option Fund redirection is allowed for future limited/ regular
Where the policy Maximum Discontinuance Charges for premium/(s), provided percentage chosen is integral
is discontinued the policies having annualized percentage for each fund and sums to 100%. There is no fund
during the premium up to r 50,000/- re-direction charge applicable under this Product.
policy year Redirection shall not be allowed in case Enhanced SMART
Lower of 20% of Annualised Premium or strategy is chosen.
1 Regular Premium Fund Value subject to a
maximum of R 3000/- POLICY TERMINATION
Lower of 15% of Annualised Premium or All coverage under this Policy shall automatically terminate on
2 Regular Premium Fund Value subject to a the occurrence of the earliest of the following:
maximum of R 2000/-
(1) Date of Vesting of policy

29 30
(2) Date of complete withdrawal/surrender Loyalty Program Reward
(3) Date of Death of the Insured, only if policyholder had If you are a member of the loyalty program administered by a
chosen Option 1, or service provider empaneled by the Company, You shall be
(4) Date of end of lock-in-period/revival period, whichever is entitled to the Loyalty Program Reward upon the purchase of
the policy and upon meeting the eligibility criteria. The loyalty
later in case of Discontinuance of Premium within 5 years,
programs foster long-term customer relationship and offer
provided the policy is not revived during the revival period.
redemption benefits through the service provider’s
(5) Date of end of lock-in-period in case of withdrawal request eco-systems based on applicable terms and conditions. Such
raised during the first five years for a Single Pay policy. reward shall accrue as percentage of the Annualized Premium
(6) A policy will terminate as and when the total fund value or Single Premium (as applicable) and shall be made available
becomes less than or equal to 1% of Single Premium; OR by the service provider to you in the form of benefits (points,
as and when the total fund value becomes less than or coins, etc.) in the first policy year by loyalty program service
equal to one Annualised Premium in case of regular/limited provider. The quantum of reward shall be determined by the
premium policy; except if any of the following conditions Company’s extant policy and shall be disclosed in the
Company’s website from time to time.
is true:
The loyalty program rewards benefit shall be subject to the
a. Five policy years have not elapsed since the inception
below:
of the contract
a) The availability of “Loyalty Program Reward” shall be
b. If the policy is in-force premium paying subject to the availability of suitable service provider(s).
The balance fund value shall be payable to the b) The Loyalty Program reward shall be directly provided by
policyholder. This situation may result because of the the service provider(s). The rights and liabilities of the
combined impact of partial withdrawals at inopportune Policyholder/ Life Insured with respect to the Loyalty
time and fund performance. Program, shall be governed by the terms and conditions
applicable to loyalty program.
Terms and Conditions
c) The Loyalty Program service is being provided by third
TATA AIA Smart Pension Secure is available through
party service provider(s) and the Company shall not be
online sales.
liable for such services.
Free Look Period d) The liability of the Company is limited to the transfer of the
If the policy holder is not satisfied with the terms & value of the reward to the service provider, so empaneled.
conditions/features of the Policy, policy holder has the right to e) The Company reserves the right to discontinue the service
cancel the Policy by giving written notice to Tata AIA and policy or change the service provider(s) at any time and such
holder will receive the non-allocated premium plus charges changes shall be updated on the Company’s website
levied by cancellation of units plus fund value at the date of ([Link]).
cancellation less (a) Extra Premium Allocation (b) proportionate
f) The eligibility conditions including the quantum of reward
risk premium for the period of cover (c) medical examination shall be determined as per the Company’s extant Policy
costs, if any and (d) stamp duty if any, along with GST on above and subject to change. Please refer our website
which has been incurred for issuing the Policy. Such notice ([Link]) for updated list of eligibility conditions,
must be signed by policy holder and received directly by TATA list of empaneled service providers, loyalty programs and
AIA within 30 days after policy holder or person authorized by the quantum of rewards. Any changes shall be applicable
policy holder receives the Policy prospectively.
Grace Period Health Management Services
If you are unable to pay your Premium on time, starting from Eligible Life Insureds of Tata AIA Smart Pension Secure may
the date of first unpaid premium, a grace period of 30 days will avail, Health Management Services from service provider(s)
be offered for policies on Annual, Semi- Annual or Quarterly associated with the Tata AIA Life Insurance Co. Ltd. The Insurer
Modes. For Policies on monthly mode the grace period would may also facilitate additional discounts and redeemable
be 15 days. During this period your policy is considered to be vouchers through such service provider, wherever available.
in force with the risk cover as per the terms & conditions of Health Management Services are complimentary services in the
the policy. areas of prediction, prevention, diagnosis, treatment or recovery
which may include services such as medical consultation,
coaching, second opinion, personal medical case management
with the objective of health management and improvement.

31 32
These services are subject to: Any charges other than Fund Management Charge, recovered
- the availability of a suitable service provider/s; subsequent to the date of death shall be paid-back to the fund
value as available on the date of intimation of death.
- primary diagnosis (wherever applicable) has been done by
a registered medical practitioner as may be authorized by a Tax Benefits
competent statutory authority; Income Tax benefits would be available as per the prevailing tax
- the eligibility conditions of the Life assured will be laws subject to fulfillment of conditions stipulated therein.
determined as per the Company’s extant Underwriting Income Tax laws are subject to change from time to time. Tata
Policy; AIA Life Insurance Company Ltd. does not assume
responsibility on tax implication mentioned anywhere in this
- the eligibility will be reviewed periodically, and changes
document. Please consult your own tax consultant to know the
shall apply without any discrimination to all existing and
tax benefits available to you.
new customers of the product.
Assignment
- Whenever the eligibility criteria changes or the service is
withdrawn, the same shall be communicated to all the Assignment allowed as per provisions of Section 38 of the
policyholders. Prior to effecting any changes, we shall Insurance Act 1938 as amended from time to time.
inform the same to IRDAI; and Nomination
Note: Nomination allowed as per provisions of Section 39 of the
- These services are aimed at improving Policyholder Insurance Act 1938 as amended from time to time.
engagement. Prohibition of Rebates - Section 41 - of the Insurance Act,
- These Value-added Services are completely optional for 1938, as amended from time to time
the eligible Life Insured to avail. No person shall allow or offer to allow, either directly or
- For Life Assured availing such services, they are offered at indirectly, as an inducement to any person to take out or renew
no additional cost. or continue an insurance in respect of any kind of risk relating
- The Premiums charged shall not depend on whether such to lives or property in India, any rebate of the whole or part of
a service(s) is offered or availed. the commission payable or any rebate of the premium shown
on the policy, nor shall any person taking out or renewing or
- The Life assured may exercise his/her own discretion to continuing a policy accept any rebate, except such rebate as
avail the services. may be allowed in accordance with the published
- These services shall be directly provided by the service prospectuses or tables of the Insurer.
provider(s). Notes
- The services can be availed only where the Policy / rider is • The Company may alter all the above charges (except
in-force. Mortality) by giving an advance notice of at least three
- All the supporting medical records should be available to months to the policyholder subject to the prior approval of
avail the service. IRDAI and will have prospective effect.
- We reserve the right to change the service provider(s) at • The Mortality Charges will be guaranteed for the period of
any time. the policy term.
- The services are being provided by third party service
provider(s) and We will not be liable for any liability.
DISCLAIMERS
• THE LINKED INSURANCE PRODUCT DO NOT OFFER
Backdating
ANY LIQUIDITY DURING THE FIRST FIVE YEARS OF THE
Backdating is not allowed in this plan. CONTRACT. THE POLICY HOLDER WILL NOT BE ABLE
Policy Loan TO SURRENDER/WITHDRAW THE MONIES INVESTED IN
LINKED INSURANCE PRODUCTS COMPLETELY OR
Policy Loan is not allowed in this plan.
PARTIALLY TILL THE END OF THE FIFTH YEAR.
Exclusions • Investments are subject to market risks.
In case of death due to suicide within 12 months from the date • Unit Linked Life Insurance products are different from the
of commencement of the Policy or from the date of revival of traditional insurance products and are subject to the risk
the Policy, the nominee or beneficiary of the Policyholder shall factors. Please know the associated risks and the
be entitled to fund value as available on the date of intimation applicable charges, from your Insurance agent or the
of death. Intermediary or policy document issued by the insurance
company.
33 34
• The various funds offered under this contract are the • The Premium paid in the Unit Linked Life Insurance Policies
names of the funds and do not in any way indicate the are subject to investment risks associated with capital
quality of these plans, their future prospects and returns. markets and the NAVs of the units may go up or down
The underlying Fund’s NAV will be affected by interest rates based on the performance of fund and factors influencing
and the performance of the underlying stocks the capital market and the Insured is responsible for his/her
• The performance of the managed portfolios and funds is decisions.
not guaranteed and the value may increase or decrease in • Buying a life insurance policy is a long-term commitment.
accordance with the future experience of the managed An early termination of the policy usually involves high
portfolios and funds. Past performance is not indicative of costs and the Surrender Value payable may be less than
future performance. Returns are calculated on an absolute the total premiums paid.
basis for a period of less than (or equal to) a year, with • The brochure is not a contract of insurance. This brochure
reinvestment of dividends (if any). should be read along with Benefit Illustration. The precise
• The Company does not guarantee any assured returns. terms and conditions of this plan are specified in the policy
The investment income and price may go down as well as contract available on Tata AIA Life website.
up depending on several factors influencing the market. • Tata AIA Life Insurance Company Ltd. is only the name of
• All Premiums, Charges, and interest payable under the policy the Insurance Company and Tata AIA Smart Pension
are exclusive of applicable taxes, duties, surcharge, cesses Secure is only the name of the Unit Linked Life Insurance
or levies which will be entirely borne/ paid by the Contract and does not in any way indicate the quality of the
Policyholder, in addition to the payment of such Premium, contract, its future prospects or returns.
charges or interest. Tata AIA Life shall have the right to claim, • Insurance cover is available under the Tata AIA products
deduct, adjust and recover the amount of any applicable tax and are underwritten by Tata AIA Life Insurance Company
or imposition, levied by any statutory or administrative body, Limited.
from the benefits payable under the Policy.
• This product is underwritten by Tata AIA Life Insurance
• Medical Second Opinion/Personal Medical Case Company Ltd. This plan is not a guaranteed Issuance plan,
Management /Medical Consultation is available to eligible and it will be subject to Company’s underwriting and
and enrolled customers of Tata AIA Life Insurance. These acceptance.
are optional services offered to you at no additional cost.
The eligibility of the Life Insured to avail these services shall
be determined by the Company from time to time. You may
exercise your own discretion to avail the services and to
follow the treatment path suggested by the service
provider. These services shall be directly provided by the
service provider. The services can be availed only where
policy/rider is in force. All the supporting medical records
should be available to avail the service. We reserve the right
to discontinue the service or change the service provider at
any time. The services are being provided by third party
service provider and Tata AIA Life Insurance Company Ltd
will not be liable for any liability.
• Some benefits are guaranteed and some benefits are
variable with returns based on future performance of your
insurer carrying on life insurance business. If your policy
offers guaranteed benefits then these will be clearly marked
“guaranteed” in the illustration table in the brochure. If your
policy offers variable benefits then the illustration in this
brochure will show two different rates of assumed future
investment returns. These assumed rates of return are not
guaranteed and they are not the upper or lower limits of IRDAI or its officials do not involve in activities
BEWARE OF SPURIOUS
what you might get back as the value of your policy is PHONE CALLS AND like selling insurance policies, announcing
dependent on a number of factors including actual future bonus or investment of premiums. Public
FICTITIOUS/
receiving such phone calls are requested to
investment performance. FRAUDULENT OFFERS lodge a police complaint.

35 36