Tata Aig

Business Aspects In Banking And Insurance
TATA AIG INSURANCE
K.M.AGRAWAL COLLEGE. (B.M.S) Project On TATA AIG INSURANCE
SUBMITTED TO: MRS. SHARMILA KARVE.
SUBMITTED BY:
ROHAN R. TAMHANE (03) ROOPA SHARMA (28) PIYUSH P. JAIN (29) PRAVESH KHANDELWAL ( 30) SHAIKH SHANAWAZ (37)
Signature:-_________.
Date:-__________.
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ACKNOWLEDGEMENT
The satisfaction that accompanies the successful completion of any task would remain incomplete without mentioning people who made it possible whose constant guidance and encouragement crown all the effort with success.
We would also like to thank our honorable principal MRS. Anita Manna & our project guide MRS. SHARMILA KARVE from Management Studies, (Economics Department) for all the help and co-operation that they have offered us In completion of this project and also for accessing our project and giving us proper feedback for the same as a result to work on a project wouldnt have been possible.
TATA AIG INSURANCE
Contents :
Sr.no 1 TOPIC TATA Group Introduction; History; Services provided by TATA Group. American International Group Introduction to AIG; History; Incorporation of AIG. TATA AIG Insurance Company. Products Offered by TATA AIG. Individuals Insurance; Corporation Insurance. List of Life Insurers (as of Sept, 2008) Insurance Companies In India Indian Insurance industry overview Role of Foreign Direct Investment (FDI) Role of IRDA in regulating the Insurance Sector in India TATA AIG General Insurance Insurance Products Offered By TATA AIG General Insurance Company Ltd. Motor; Home; Accident And Health; Travel Tata AIG Life Insurance Company Ltd: Introduction to TATA AIG Life Insurance. Types of policies provided by Tata AIG Life Insurance Company Ltd.
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7 8-10 11 12 13 13-14 14-15 16 17-34
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Corporate life insurance products offered by Tata AIG Life Insurance Company Ltd: Group Pensions ; Employee Benefits ; 13 14 15 Workplace Solutions. Policies Offered by TATA AIG Life Insurance Company Ltd. Conclusion Bibliography 42-65 66 67
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TATA AIG
TATA AIG is collaboration between TATA Group and American International Group (AIG). Tata AIG Insurance Company was licensed by Insurance Regulatory and Development
Authority to operate in India on February 12, 2001.
TATA Group
Introduction to TATA Group: The Tata Group is a multinational conglomerate based in Mumbai, India. In terms of market capitalization and revenues, Tata Group is the largest private corporate group in India and has been recognized as one of the most respected companies in the world. It has interests in steel, automobiles, information technology, communication, power, tea and hospitality. The Tata Group has operations in more than 85 countries across six continents and its companies export products and services to 80 nations. The Tata Group comprises 114 companies and subsidiaries in seven business sectors, 27 of which are publicly listed. 65.8% of the ownership of Tata Group is held in charitable trusts. Companies which form a major part of the group include: Tata Steel, Corus Steel, Tata Motors, Tata Consultancy Services, Tata Technologies, Tata Tea, Titan Industries, Tata Power, Tata Communications, Tata Teleservices, Tata Auto-Comp Systems Limited and the Taj Hotels.
The group takes the name of its founder, Jamsetji Tata, a member of whose family has almost invariably been the chairman of the group. The current chairman of the Tata group is Ratan Tata, who took over from J. R. D. Tata in 1991 and is currently one of the major international business figures in the age of globality. The company is currently in its fifth generation of family stewardship. The 2009 annual survey by the Reputation Institute ranked Tata Group as the 11th most reputable company in the world. The survey included 600 global companies.
TATA AIG INSURANCE
History of TATA Group:The beginnings of Tata Group can be traced back to 1868, when Jamsetji Nusserwanji Tata established a trading company dealing in Opium in Bombay. This was followed by the installation of Empress Mills in Nagpur in 1877. Taj Mahal Hotel in Bombay was opened for business in 1903. Sir Dorab Tata, the eldest son of Jamsetji became the chairman of the group after his fathers death in 1904. Under him, the group ventured into steel production (1905) and hydroelectric power generation (1910). After the death of Dorab Tata in 1934, Nowroji Saklatwala headed the group till 1938. He was succeeded by JRD Tata. The group expanded significantly under him with the establishment of Tata Chemicals (1939), Tata Motors and Tata Industries (both 1945), Voltas (1954), Tata Tea (1962), Tata Consultancy Services (1968) and Titan Industries (1984). Ratan Tata, the incumbent chairman of the group succeeded JRD Tata in 1991.
Services provided by TATA Group:

The Indian Hotels Company. Tata Housing Development Company Ltd. (THDC). Tata-AIG General Insurance, a joint venture with AIG. Tata-AIG Life Insurance, a joint venture with AIG. Tata Advanced Systems Limited. Tata Asset Management. Tata Financial Services. Tata Capital. Tata Investment Corporation. Tata Quality Management Services. Tata Share Registry. Tata Strategic Management Group (TSMG) is one of the largest consulting firms in South Asia. Tata Services.
TATA AIG INSURANCE
American International Group (AIG)
Introduction to AIG Group: American International Group, Inc. (AIG) (NYSE: AIG) (New York Stock Exchange: AIG), a is an American insurance corporation. Its corporate headquarters are located in the American International Building in New York City, but will relocate to San Antonio. The British headquarters office is on Fenchurch Street in London; continental Europe operations are based in La Dfense, Paris, and its Asian headquarters office is in Hong Kong. According to the 2008 Forbes Global 2000 list, AIG was once the 18th-largest public company in the world. It was listed on the Dow Jones Industrial Average from April 8, 2004 to September 22, 2008. AIG suffered from a liquidity crisis when its credit ratings were downgraded below "AA" levels in September 2008. The United States Federal Reserve Bank on September 16, 2008, created an $85 billion credit facility to enable the company to meet increased collateral obligations consequent to the credit rating downgrade, in exchange for the issuance of a stock warrant to the Federal Reserve Bank for 79.9% of the equity of AIG. The U.S. government revised the credit facility, and eventually increased the total amount available to as much as $182.5 billion. AIG subsequently sold a number of its subsidiaries and other asset to pay down loans received, and continues to seek buyers of its assets. In March 2009, AIG faced public outrage and media and political backlash for its retention payments of $165 million. AIG employees faced hate mail and death threats, and multiple websites had sprung up attacking AIG.
TATA AIG INSURANCE
History of AIG Group: AIG history dates back to 1919, when Cornelius Vander Starr established an insurance agency in Shanghai, China. Starr was the first Westerner in Shanghai to sell insurance to the Chinese, which he continued to do until AIG left China in early 1949 as Mao Zedong led the advance of the Communist People's Liberation Army on Shanghai. Starr then moved the company headquarters to its current home in New York City. In 1962, Starr gave management of the company's lagging U.S. holdings to Maurice R. "Hank" Greenberg, who shifted its focus from personal insurance to high-margin corporate coverage. Greenberg focused on selling insurance through independent brokers rather than agents to eliminate agent salaries. In 1968, Starr named Greenberg his successor. The company went public in 1969. Beginning in 2005, AIG became embroiled in a series of fraud investigations conducted by the Securities and Exchange Commission, U.S. Justice Department, and New York State Attorney General's Office. Greenberg was ousted amid an accounting scandal in February 2005; he is still fighting civil charges being pursued by New York state. The New York Attorney General's investigation led to a $1.6 billion fine for AIG and criminal charges for some of its executives. Greenberg was succeeded as CEO by Martin J. Sullivan, who had begun his career at AIG as a clerk in its London office in 1970. On June 15, 2008, after disclosure of financial losses and subsequent to a falling stock price, Sullivan resigned and was replaced by Robert B. Willumstad, Chairman of the AIG Board of Directors since 2006. Willumstad was forced by the US government to step down and was replaced by Edward M. Liddy on September 17, 2008. AIG Reports Second Quarter 2009 Results: American International Group, Inc. (AIG) today reported its first quarterly profit since the third quarter of 2007, as certain of its businesses stabilized and the companys results reflected positive valuation changes. AIG also achieved several important milestones in its restructuring program. AIG Board of Directors Elects Harvey Golub Non-Executive Chairman of the Board: American International Group, Inc. (AIG) today announced that its Board of Directors has elected AIG Director Harvey Golub Non-Executive Chairman of the Board. Mr. Golub will assume his new role on August 10, 2009, succeeding retiring Chairman and CEO Edward M. Liddy.
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Government Investment
Outline of the U.S. government's investments and support related to AIG, as well as progress made in reducing the Federal Reserve credit facility.
The Restructuring Plan
Detail on AIG's restructuring plan, including progress in the separation of key businesses, asset divestitures, expense management and risk reduction.
A Message from the CEO
Recent statements from President and CEO Robert H. Benmosche.
Corporate Governance
AIG's Board of Directors, Board Committees and Charters, Corporate Governance Guidelines, Certificate of Incorporation, By-laws, and Codes of Conduct.
Investor Information
Links to SEC filings and other financial reports, information on AIG stock, and contact information for shareholder inquiries.
Newsroom
Latest news releases, statements, and other recent news relevant to AIG.
Customer Information
Information for policyholders, frequently asked questions and contact detail.
TATA AIG INSURANCE
Incorporation of AIG Group
American International Group (AIG), Inc. Type Founded Founder(s) Headquarters Public (NYSE: AIG) 1919 in Shanghai, China Cornelius Vander Starr American International Building New York City, New York, U.S. Worldwide Harvey Golub (Chairman) Robert Benmosche (President and CEO) David L. Herzog (CFO and EVP) Insurance, Financial Services Insurance Annuities, Mutual Funds US$ 110.064 billion (2008) US$ 106.761 billion (2008)
Area served Key people
Industry Products Revenue Operating income Net income Total assets Total equity Employees Website
US$ 99.289 billion (2008) US$ 860.418 billion (2008) US$ 52.710 billion (2008) 116,000 (2008) AIG.com
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TATA AIG INSURANCe Company

Introduction to TATA AIG Insurance Company: Tata AIG Insurance Solutions is one of the leading insurance companies that provide both General Insurance as well as Life Insurance. This pioneer company is a joint collaboration between the American International Group, Inc. (AIG) and Tata Group. They own the company in the ratio of 26:74. It is a leading financial institution that has carved a niche for itself all over the world. Tata AIG Insurance provides facilities to both corporates and individuals. Starting its operations on April 1, 2001, it seeks to serve different categories of people. It acquired its license for carrying out operations in India on February 12, 2001. Tata AIG Insurance Solutions is one of the most prestigious organizations in the business world. It employs thousands of employees and offers various opportunities to people to build a prospective career. As a leading name in the financial world, it identifies the potential and experience of the individual. This insurance company identifies the clients needs and works accordingly. It stresses on innovative aspect and opening of new markets. It believes in new economy and latest Internet technology. Tata AIG Insurance offers flexible life insurance to the individuals, business organization and other association. For the corporates, there are various insurance products like group pensions, employee benefits, work place solutions and credit life. For the individuals, Tata AIG Insurance offers various products for adults, children and for retirement planning.
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Tata AIG Insurance offers a number of products.
Individual insurance. Corporate insurance.
Solution to the Corporations
For any corporation, its employees and customers are its greatest assets. And it is important for the organization to take the necessary measures from time to time to maintain their motivation levels. Offering security to them and their families with insurance cover is one way to show that you care. TATA AIG also offers solutions for managing the liabilities on Gratuity and Superannuation products for the employees. Our range of corporate life insurance products include:

Employee Benefits Group Pensions Workplace Solutions
Discover how each product can be a tool for increasing employee loyalty along with providing tax benefits.
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Solution to the Individuals
Each one of us is unique. Yet many of us share the same concerns over the course of our lives. For instance, you may have asked yourself, Who will take care of my family if something happens to me? Tata AIG Life is here to help provide answers to questions just like that one. For example, if you:
1. Are hospitalized or have a prolonged illness? See Tata AIG Life InvestAssure
Health & Tata AIG Life Health First & Tata AIG Life Health Protector - 5 Year Guaranteed Renewal Accident and Health Plan
2. Cover your hospitalisation expenses and get your money back.See Tata AIG Life
Hospi CashBack
3. Want your children to have a steady income, no matter what happens? See Tata
AIG Life MahaLife Gold

4. Stay protected against 12 critical illnesses. Get your life back and your money.
See Tata AIG Life Health Investor

5. Want a safety net and more control over your returns? See Tata AIG Life
InvestAssure II
6. Want a unit linked insurance plan with inbuilt Critical Illness benefit? See Tata
AIG Life InvestAssure Care

7. Want a unit-linked insurance plan with an in-built Payor Benefit? See Tata AIG
Life InvestAssure Extra

8. Want a unit linked endowment investment plan with a host of flexible features?
See Tata AIG Life InvestAssure Flexi

9. Reap attractive rewards for a lifetime with a whole life unit linked plan. See Tata
AIG Life InvestAssure Gold

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10. Want a plan that enables you to grow your investment through high allocation
and a guaranteed maturity bonus? See Tata AIG Life InvestAssure Insta
11. Want a unit-linked policy with a single-premium paying term? See Tata AIG Life
InvestAssure Plus
12. Want to optimize your return, and protect yourself against any unforeseen
eventuality? See Tata AIG Life InvestAssure Optima

13. Want a simple solution for wealth creation and protection? See Tata AIG Life
Jeevan Lakshya
14. Dont want to face financial risk, but cant afford high premiums? See Tata AIG
Life Assure One year/ Five Years/10 Years/ 15 Years / 20 Years / 25 Years Lifeline Plans, and Term to age 60 known as Assure Lifeline to Age 60
15. Want your money back if you outlive your policy? See Tata AIG Life LifePlus 16. Want coverage and the flexibility to get your money when you need it? See Tata
AIG Life Assure 21 years Money Saver

17. Want safety and high returns? See Tata AIG Life Assure 10 Years / 20 Years /
30 Years Security & Growth Plans

18. Want a low-cost term plan which offers a large cover? See Tata AIG Life Raksha
10/15/20/25
19. Want high returns at a low premium? See Tata AIG Life ShubhLife 20. Keep your capital safe and growing with Tata AIG Life Assure Golden Years
Plan
Tata AIG Mediclaim Policy:
Tata AIG Mediclaim Policy Tata AIG Health Insurance Company is collaboration between Indian corporate house Tata and the American Insurance group. Tata AIG is a leading insurance provider and a Mediclaim providing company in the country. Finding Better Health Insurance Company to Deal with | Insurance: A private health insurance company, Tata AIG Life Insurance Company Limited or Tata AIG Life is a tie up between the Tata group and the American International Group (AIG). It offers a variety of health plans and policies.
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List of Life Insurers (as of Sept, 2008)

Apart from Life Insurance Corporation, the public sector life insurer, there are 20 other private sector life insurers, most of them joint ventures between Indian groups and global insurance giants. Life Insurer in Public Sector:
1. Life Insurance Corporation of India.
Life Insurers in Private Sector: Metlife India Life Insurance ICICI Prudential Life Insurance Bajaj Allianz Life Max New York Life Insurance Sahara Life Insurance 6. Tata AIG Life 7. HDFC Standard Life 8. Birla Sunlife 9. SBI Life Insurance 10. Kotak Life Insurance 11. Aviva Life Insurance 12. Reliance Life Insurance Company Limited - Formerly known as AMP Sanmar LIC 13. ING Vysya Life Insurance 14. Shriram Life Insurance 15. Bharti AXA Life Insurance Co Ltd 16. Future Generali Life Insurance Co Ltd 17. IDBI Fortis Life Insurance Co Ltd 18. AEGON Religare Life Insurance 19. DLF Pramerica Life Insurance
1. 2. 3. 4. 5. 15
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20. CANARA HSBC Oriental Bank of Commerce LIFE INSURANCE.\
INSURANCE COMPANY IN INDIA

Agriculture Insurance Company of India Bajaj Allianz General Insurance Bajaj Allianz Life Insurance Bharti AXA General Insurance Cholamandalam MS General Insurance General Insurance Corporation of India IFFCO-TOKIO General Insurance Co. Insurance Institute of India Life Insurance Corporation of India Max New York Life New India Assurance Oriental Insurance Oriental Insurance Company Limited Reliance General Insurance
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Reliance Life Insurance Sun Life Financial TATA AIG General Insurance TATA AIG Life Insurance United India Insurance Company United India Insurance Company Limited
Indian life insurance industry overview

All life insurance companies in India have to comply with the strict regulations laid out by Insurance Regulatory and Development Authority of India (IRDA). Therefore there is no risk in going in for private insurance players. In terms of being rated for financial strength like international players, only ICICI Prudential is rated by Fitch India at National Insurer Financial Strength Rating of AAA(Ind) with stable outlook indicating the highest claims paying ability rating. Life Insurance Corporation of India (LIC), the state owned behemoth, remains by far the largest player in the market. Among the private sector players, ICICI Prudential Life Insurance(JV between ICICI Bank and Prudential PLC) is the largest followed by Bajaj Allianz Life Insurance Company Limited (JV between Bajaj Group and Allianz). The private companies are coming out with better products which are more beneficial to the customer. Among such products are the ULIPs or the Unit Linked Investment Plans which offer both life cover as well as scope for savings or investment options as the customer desires.Further, these type of plans are subject to a minimum lock-in period of three years to prevent misuse of the significant tax benefits offered to such plans under the Income Tax Act. Hence, comparison of such products with mutual funds would be erroneous.
Role of Foreign Direct Investment (FDI) Policy in Insurance Sector.

As per the current (Mar 06) FDI norms, foreign participation in an Indian insurance company is restricted to 26.0% of its equity / ordinary share capital. The Union Budget for fiscal 2005 had recommended that the ceiling on foreign holding be increased to 49.0%.
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The government approved the much-awaited comprehensive Insurance Bill that seeks to raise foreign direct investment (FDI) cap in private sector to 49 per cent from 26 per cent.
Role of IRDA in regulating the Insurance Sector in India.

Section 14 of IRDA Act, 1999 laysdown the duties,powers and functions of IRDA (1) Subject to the provisions of this Act and any other law for the time being in force, the Authority shall have the duty to regulate, promote and ensure orderly growth of the insurance business and re-insurance business. (2) Without prejudice to the generality of the provisions contained in sub-section (1), the powers and functions of the Authority shall include, (a) issue to the applicant a certificate of registration, renew, modify, withdraw, suspend or cancel such registration; (b) protection of the interests of the policy holders in matters concerning assigning of policy, nomination by policy holders, insurable interest, settlement of insurance claim, surrender value of policy and other terms and conditions of contracts of insurance; (c) specifying requisite qualifications, code of conduct and practical training for intermediary or insurance intermediaries and agents; (d) specifying the code of conduct for surveyors and loss assessors; (e) promoting efficiency in the conduct of insurance business; (f) promoting and regulating professional organisations connected with the insurance and re-insurance business; (g) levying fees and other charges for carrying out the purposes of this Act;
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(h) calling for information from, undertaking inspection of, conducting enquiries and investigations including audit of the insurers, intermediaries, insurance intermediaries and other organisations connected with the insurance business; (i) control and regulation of the rates, advantages, terms and conditions that may be offered by insurers in respect of general insurance business not so controlled and regulated by the Tariff Advisory Committee under section 64U of the Insurance Act, 1938 (4 of 1938); (j) specifying the form and manner in which books of account shall be maintained and statement of accounts shall be rendered by insurers and other insurance intermediaries; (k) regulating investment of funds by insurance companies; (l) regulating maintenance of margin of solvency; (m) adjudication of disputes between insurers and intermediaries or insurance intermediaries; (n) supervising the functioning of the Tariff Advisory Committee; (o) specifying the percentage of premium income of the insurer to finance schemes for promoting and regulating professional organisations referred to in clause (f); (p) specifying the percentage of life insurance business and general insurance business to be undertaken by the insurer in the rural or social sector Commission / intermediation fees:
The maximum commission limits as per statutory provisions are:
Agency commission for retail life insurance business:

7- 50% for 1st year premium if the premium paying term is more than 20 years 7- 10% for 1st year premium if the premium paying term is more than 15 years 7- 10% for 1st year premium if the premium paying term is less than 10 years 7% - yr 2 and 3rd year and 3.5% - thereafter for all premium paying terms.
In case of Mutual fund related - Unit linked policies it varies between 1.5% to 6% on the premium paid. Agency commission for retail pension policies:
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7.5% for 1st year premium and 2.5% thereafter Maximum broker commission - 30% Referral fees to banks Max 55% for regular premium and 10% for single premium.
However in any case this fee cannot be more than the agency commission as filed under the product. However, the above commission may be further subject to the product wise limits specified by IRDA while approving the product.
TATA AIG General Insurance
Introduction to TATA AIG General Insurance:

Tata AIG General Insurance Company Limited (Tata AIG General) is a joint venture company, formed by the Tata Group and American International Group, Inc. (AIG). Tata AIG General combines the Tata Groups pre-eminent leadership position in India and AIGs global presence as the worlds leading international insurance and financial services organization. The Tata Group holds 74 per cent stake in the insurance venture with AIG holding the balance 26 percent. Tata AIG General Insurance Company, which started its operations in India on January 22, 2001, offers complete range of general insurance for motor, home, accident & health, travel, energy, marine, property and casualty, liability as well as several specialized financial lines.
Mr. Gaurav Garg, Managing Director, Tata AIG General Insurance Company.
Tata AIG General Insurance Company (Tata AIG General) appointed Mr. Gaurav Garg as the Managing Director of the company effective July 1, 2007. Previously, Mr. Garg was the vice president (field operations) of AIG, New York. He succeeds Michael Carlin.
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Based in Mumbai, Gaurav is responsible for providing overall leadership for managing the operations of Tata AIG General in India and for driving all business and market development activities. Commenting on these changes Farrokh Kavarana, Chairman, Tata AIG General Insurance Company said, "We welcome Mr. Garg on board as he takes over the reins from Mr. Carlin as the Managing Director of Tata AIG General Insurance. We would like to thank Mr. Carlin for his contribution during his tenure in India and wish him success for the future. Mr. Garg was a part of the startup team in the year 2000 of Tata AIG General Insurance Company, as the Personal Lines Profit Centre head. Since 2004, in AIG New York, he has been a part of various multifunctional task forces set up to improve operations and transfer best practices. With solid domestic and international experience, Mr. Garg is well equipped to build on the momentum that the company has achieved over the last six years and we wish him all the best as he takes on this challenging assignment." Before joining Tata AIG, Gaurav has had a long career with the National Insurance Company of India, where he held various responsibilities. Gaurav has completed an MBA from the University of Lucknow in India and is also a fellow of the Insurance Institute of India.
Insurance Products Offered By TATA AIG General Insurance Company Ltd.

"Every stage of life, you are open to immense risk and immense opportunity. and Tata AIG has the ideal bouquet of insurance products for each of those risks and opportunities." TATA AIG Offers this services basically to the Individual. For Individually Basis TATA AIG offers the following products:
Motor; Home; Accident And Health; Travel.
MOTOR
Insuring your Car is not only mandatory, it is also a good financial planning for the third -party Liability.
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The law in the country makes it compulsory for you to insure your motor vehicle. The compulsory nature of the law protects you against third party liability. While insuring against third party liability is important, it also makes good sense to buy a comprehensive cover to give you all round protection. In Motor Insurance they provide various other services such as: Private Car Insurance. Two Wheeler Insurance. Commercial Vehicle Insurance.
Private Car Insurance

In India one of out of every three car is damaged in an accident. TATA AIG brings you the comprehensive insurance cover, which not only covers you for the liability arising out of the Third party but covers you against the loss or damage to your vehicle. Features: Incorporates all the features as per the Motor Vehicle tariff. Coverage for Partial Loss & total loss arising out of accident, Fire & allied perils and theft. Discount (NCB) for claim free experience. Discount for Anti theft devise, member of Automobile Association etc. Predefined depreciation for the parts needing replacement on account of accident.
Benefits: All the benefits covered under the motor vehicle tariff are passed on the customer, few unique to TATA AIG are: No deduction on count of Salvage value. 24 X 7 Contact centre for lodging claims and all queries. Convenient & multiple ways of reporting claims.
Cover Includes: All coverages as per the Motor Vehicle Tariff:
Loss or Damage to your Vehicle: Any partial or total loss to your vehicle arising out of accident or on account of fire and allied perils in covered. Please click to Coverages and Exclusion for details Third Party Legal Liability: Covers Third party property damage and Third party Bodily injury.
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Two Wheeler Insurance

TATA AIG brings you the comprehensive insurance cover, which not only covers you for the liability arising out of the Third party but covers you against the loss or damage to your own 2-wheeler Features: Incorporates all the features as per the Motor Vehicle tariff: Discount (NCB) for claim free experience Predefined depreciation for the parts needing replacement on account of accident.
Benefits: All the benefits covered under the motor vehicle tariff are passed on the customer, few unique to TATA AIG are: Direct Payment facility at garages. Faster Claim Settlement 24 X 7 Contact centre for lodging claims and all queries
Coverage: All coverages as per the Motor Vehicle Tariff:

Commercial Vehicle Insurance

TATA AIG brings you the comprehensive insurance cover, which not only covers you for the liability arising out of the Third party but covers you against the loss or damage to your vehicle. Features: Incorporates all the features as per the Motor Vehicle tarif Coverage for Partial Loss & total loss arising out of accident, Fire & allied perils and theft. Discount (NCB) for claim free experience Predefined depreciation for the parts needing replacement on account of accident.
Benefits:All the benefits covered under the motor vehicle tariff are passed on the customer, few unique to TATA AIG are On Line policy issuance All India Claim Service network & uniform service parameters.
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A-Z Claims settlement by the "Office of Contact". Faster Claim Settlement 24 X 7 Contact centre for Lodging Claim and other queries Minimum Documentation.
Coverage: All coverages as per the Motor Vehicle Tariff

HOME
Home sweet Home" - a destination, any individual or a family feels very close to the heart. It is an investment of one's lifetime savings, emotional dreams and aspirations to realize their ideal home. Home signifies a set of emotions for any individual, be it pride, ownership, stability or be it a sense of belonging. It echoes the owners' sentiments "It's my house". After all, one's Home including its contents is the single most important and expensive asset that we have created for ourselves. We have learnt to value life and health sufficiently to understand the importance of insuring it. But when it comes to applying the same logic to our home (around which our lives revolve) most of us suffer a blind spot. It is only when a calamity or catastrophe strikes that we feel helpless. Home Insurance provides exactly the care one needs at such times - to safeguard against unforeseen eventualities and to preserve one's lifestyle and that too at an affordable price. You can protect your priceless investment for very little money. Assuming you have possessions worth Rs. 300,000 in your house, you can insure those possessions for as little as Rs. 3 a day - for Fire, Natural Hazards (Flood, Earthquake etc) and Burglary & Theft. TATA AIG's Home Secure takes the bother out of insuring your home. No unnecessary paperwork or awkward questions. Just smooth sailing all the way. In Home Insurance they provide various other services such as:
Fire Cover ; Pre-Packaged Coverages;

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Supreme Cover ; Privilege .
Fire Cover
This policy covers against fire and some special perils listed below. Its attraction is the fact that it gives you this cover for surprisingly little money. Features: What is this for? This policy covers buildings (RCC construction) and your household contents. Building value should be equal to present day cost of reconstruction, while contents should be insured for their market value.
Pre-packaged Coverages:
Perils Covered: Fire Lightning Explosion / Implosion Riot, Strike and malicious damage (RSMD) Flood, Storm, inundation Aircraft Damage Impact Damage by any rail/road vehicle or animal (other than damage by own vehicle) Landslide, rockslide Bursting and overflowing of water tanks, apparatus pipes. Missile testing operations Bush Fire Earthquake & Terrorism can be taken as add-on covers by paying extra premium
It is important that you take care to adequately insure your property. In case the actual value of insured property at the time of loss under Fire Benefit is found to be greater than the sum insured opted by you, then the claim would stand to be reduced in the same proportion.
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Supreme Cover
This is flexible home insurance product, which can be customized for individual requirements. You can customize your package by picking and choosing from a basket of coverages to design a product that you feel suits your needs.
Fire
Benefits Includes: Explosion / Implosion Aircraft Damage caused by aircraft Riot, Strike, Malicious Damage cover Damages due to Impact by rail / road vehicle or animal Bursting and / or overflowing of water tanks, apparatus and pipes Missile Testing operations Leakage from Automatic Sprinkler Installations Lightning
Loss caused by Storm, Cyclone, Typhoon, Tempest, Hurricane, Tornado, Flood and Inundation Destruction by subsidence of part of the site on which the property stands or landslide Bush Fire
Cover: Building Contents
Rent for Alternative accommodation covers additional expenses on rent incurred by you in case of loss or damage to the premises caused by an insured peril rendering the premises unfit for occupation and forcing you to shift to an alternative accommodation for a maximum period of 30 days.
Public Liability
Benefits Includes: It covers your legal liability as a householder towards other persons (third parties) and your domestic servants.
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Cover: Legal liabilities to public / workmen
Burglary
Benefits Includes It provides automatic protection for newly purchased articles against fire and burglary up to 30days from the date of purchase. Cover Automatic insurance of new purchases
Purchase Protection
Benefits Includes It provides automatic protection for newly purchased articles against fire and burglary up to 30days from the date of purchase. Cover Automatic insurance of new purchases
Pedal Cycle
Benefits Includes It covers your pedal cycle comprehensively against accidental damages. Additionally it also covers liability towards third party injury and/ or property damage up to Rs.10,000 only. Cover Accident, damage, theft to bicycles
Plate Glass
Benefits Includes Securely fixed plate glass (e.g. windows) is covered against accidental loss or damage resulting into breakage. Cover Damage to fixed glass
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Baggage
Benefits Includes Your accompanied baggage is protected even while you travel. Any accidental loss or damage and theft of personal baggage during the travel is covered anywhere in India. Cover Loss of personal belongings during travel
Audio Visual Appliance

Benefits Includes It covers Fire, Burglary, Theft, Legal Liability, accidental damages and breakdowns associated with audio and audio visual equipment. Cover Breakdown of audio & audio visual equipments
Domestic Appliance
Benefits Includes: It covers your Refrigerator against the risk of unforeseen and sudden mechanical and /or electrical breakdown. Cover Breakdown of domestic appliances
Marine
Benefits Includes In case you need to relocate to a different city or a different household in the same city, Home Secure will hold your possessions protected against loss or damage during transit in case of an accident to the carrying vehicle or if the entire goods are not delivered. Cover Transit cover for household goods
Personal Accident
Benefits Includes:
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Home Secure provides Personal Accident cover to your entire family on account of death, permanent total or partial disablement and Medical expenses and Ambulance charges up to specified limits related to and arising out of accident. Cover Accidental Death / PTD / PPD
Medical Expense
Cover Hospital expenses due to accidents causing death / PTD
Ambulance Charge
Cover Ambulance charges due to accident.
Expenses for Temporary Resettlement

Benefits Includes In case your home has been rendered uninhabitable due to fire, Home Secure covers the cost of packing and transportation (up to specified limits) of your household goods to an alternative residence. Cover Resettlement expenses in case rent for alternative accommodation becomes operative
Money
Benefits Includes Dispossession of money withdrawn from a Bank branch or Automated Teller Machine (ATM) on your way back home due to robbery or hold-up. Cover Loss of cash in transit from bank to home
Privilege
This is unique, innovative product where one can insure one's most prized possessions as part of a privilege offer viz. Your car, home and life.
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It is a comprehensive insurance scheme that protects you against the uncertainties of life by giving you the convenience of protecting your Home Contents and your life against accidents while taking Car insurance i.e. 3 in 1 covers under the same roof. While Car insurance is the default insurance, the client has the option of taking the Home and/or Personal Accident cover under the same policy.
ACCIDENT AND HEALTH

Accidents are facts of life, but you dont have stay unprotected. Whether you are an individual or a corporate, you are essentially looking for the same thing: to take care of the people you value - either your family or your employees. Tata AIG has well-researched products for your accident insurance needs. And our products are just the cover you are looking for. In Accident and Health Insurance they provide various other services such as: Accident Guard; Secured Future Plan; Hospital Care;
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Maharaksha; Criticare; Healthcare +.
Accident Guard
Less than Rs. 3 a day - that's all you need to take care of your family. Have you ever thought about this? How will your family survive if they lose you to an accident? And how are they protected for the financial loss of not having you there? Tata AIG brings you Accident Guard for life's big questions - so you can focus on getting well while we take care of your financial needs. Than Rs. 3 a day! And better still, covers your entire family for just one rupee more a day! Features: The plan can be taken in multiple units of Rs. 10 lacs up to Rs. 1 crore. As an Add-on, you can also take an Accidental Weekly Benefit* in multiples of Rs. 2000 up to Rs. 10,000
Flexibility: Accident Guard is designed for your convenience - you can pick and choose benefits best suited to you and your family. You can buy up to 10 units to cover yourself and your family. plus a Accidental Weekly Benefit, of which you can take up to 5 units for yourself as add-on benefit (optional). Escalating benefits: If the policy is renewed, the sum(s) assured increases by 5 percent each year, up to 5 years. For example, if you take one unit of Rs. 10,00,000 and renew the policy for the next year, your insured amount becomes Rs. 10,50,000 for the same premium. Convenient options to choose: Self Option where you insure yourself for Accidental Death & Dismemberment, or Accidental Death & Dismemberment along with Permanent Total Loss of use. Family Option where, you can also insure your family for Accidental Death & Dismemberment, or Accidental Death & Dismemberment along with Permanent Total Loss of use.
Additional Features (with Family Option): Education allowance: In case of Accidental Death, 10 percent of the principal sum assured is paid towards your children's education benefit. Exclusions: The main exclusions to the policy include suicide, military service or operations, war, illegal act, bacterial infections, disease, AIDS, dangerous sports etc.
Secured Future Plan

Guaranteed monthly income upto 20 years - The future was never so secured before!
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We, at Tata AIG understand that an unfortunate accident can create serious financial problems for your family. More so your spouse may not understand how to invest the lumpsum payment from a life insurance cover; for a guaranteed monthly income. Our Secure Future Plan is the right solution for such uncertainties. Features: Flexibility: Depending upon your monthly expenditure you can choose the highly flexible options, with Monthly income benefits ranging from Rs.10000 to Rs.35000, for a period of 5 years to 20 years. Guaranteed Monthly Income: The monthly income is not subject to market risks and is guaranteed over the period chosen. Additional Features: o No medical examination is required. o 24 hours worldwide coverage. o Covers risks of Accidental Death, Dismemberment & Paralysis and Permanent Total Disability. Exclusions : The main exclusions to the policy include suicide, military service or operations, war, illegal act, bacterial infections, disease, AIDS, dangerous sports etc.
Hospital Care
Peace of Mind from unexpected Accidental Hospital Expenses - Perfect supplement to your health policy Hospital Care takes care of all your expenses arising due to unforeseen hospitalization expenses due to accident. Apart from regular hospital charges like Operation theatre, surgeon's fees, pathology tests, X-ray etc this product also covers incidental expenses like food, commutation by your immediate family members. Features :

Hospital Cash Benefit: Takes care of incidental expenses while in hospital, available in Rs. 1000/day, Rs2500/day, Rs.5000/day. ICU Benefit: Double Hospital Cash benefit while admitted in Intensive Care Unit. Physiotherapy Benefit: to help you recover fast during confinement in the hospital due to accidents.
Additional Features: Covers risks of Accidental Death, equivalent to 100 times daily Hospital Cash benefit.
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Exclusions: The main exclusions to the policy include suicide, military service or operations, war, illegal act, bacterial infections, disease, AIDS, dangerous sports etc. The coverage, terms & exclusions have been outlined briefly; kindly refer the policy wordings for complete details.
Maharaksha
Cover every part of your body; every minute of your life. The Maharaksha Personal Injury Plan is the first of its kind in India, designed to pay cash benefit for a wide range of 'everyday' injuries like fractures, burns, dislocations or internal injuries; which might not need hospitalization. The benefit is payable with no conditions as to how the money should be spent. You can use it to pay for special care such as nurse or even buy a wheelchair. Targeted towards the ageing couples this policy can also be purchased by young individuals for self or as a gift for their parents. Features :

Everyday Injury Benefit: Cash payment up to Rs.3,00,000 for everyday injuries like - fractures, burns, dislocations, Internal Injuries. Hospitalisation Benefit: Accidental Hospital cash benefit up to Rs.3000 per day right up to 365 days. Active Lifestyle Benefit: Compensation up to Rs. 10,00,000 for inability to perform any three of the daily activities - eating, toileting, dressing, continence, mobility. Accidental Loss of Life Benefit: Cover for accidental death up to Rs. 5,00,000 (Double AD if death due to public transport).
Additional Features: No medical examination is required - Guaranteed Acceptance, for the customer, spouse and parents if they are between the ages of 18 and 75 years Provides 24 hours a day worldwide coverage. Prompt claim settlement
Healthcare +
Misfortunes never announce their arrivals. Especially with the busy nature of our new-age lifestyles, susceptibility to risks has increased more than ever before.
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These risks can often bring in unforeseen Hospitalization causing a financial burden on you and your family. With the escalating medical costs the charges like Operation theater, Surgeon's fees, diagnostic tests etc may turn out to be very expensive. In some instances the hospitalization may be prolonged and may drain your savings. Besides the regular hospitalization expenses there are other incidental expenses like food, commutation by your immediate family members etc which may give sleepless nights to you and your family. Tata AIG General Insurance introduces Hospital Care+ for the complete peace of mind from the above anxieties. The Daily Cash benefit in HealthCare+ takes care of any unexpected financial burden in case of hospitalization. HealthCare+ is a perfect supplement to the health policy and can be taken along with any other health insurance schemes. Features : Sickness Hospital Cash - takes care of hospitalization expenses due to sickness; available in Rs. 500/day, Rs. 1000/day, Rs. 2000/day, Rs. 3000/day & Rs. 5000/day Accidental Hospital Cash - You can also opt for accident hospital cash benefit which takes care of incidental expenses while in hospital due to accidents; available in Rs. 1000/day, Rs. 2000/day, Rs. 4000/day, Rs. 6000/day & Rs. 10000/day Accident Medical Expense Reimbursement - This benefit takes care of reimbursement of day to day medical bills due to accidental injuries with or without hospitalization. Additional Features: Hospitalization Cash up to 180 days. Guaranteed issuance. Flexibility in choosing options; 5 convenient offer different levels of protection against hospitalization expenses. Renewal benefit: On renewal of policy, additional 5% on the original benefit amount up to max 5 yrs. Waiting period of 90 days for Sickness Hospital Cash. Premium paid is eligible for tax exemption under Sec 80D of IT Act. Eligibility Criteria: Any individual between the age of 18 to 59 years and 364 days can take this cover (Dependent children between the age of 6 months and 18 yrs or up to 23 yrs if studying in an accredited institution of higher learning and is unmarried).The coverage can be renewed till the age of 54 years." Exclusions:
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1. Any pre-existing Condition, any complication arising from it, suicide, AIDS, Military service or operation, being under the influence of drugs, alcohol, war, illegal acts, dangerous sports. 2. If you are admitted to a hospital within 90 days immediately following the effective date of coverage stated in the schedule. unless hospitalization is caused by injury. 3. Pregnancy and resulting childbirth, miscarriage or Disease of the female organs of reproduction.
Criticare
The Plan provides lump sum cash benefit on the Diagnosis of one of the defined Critical Illnesses. Targeted towards the health conscious individuals (young to ageing couples) these policy covers 11 critical illnesses. Features: Lumpsum Benefit on Diagnosis: Pays a lump sum benefit up to Rs. 15, 00,000 if diagnosed to be suffering from a Critical Illness covered under the plan and it is the first incidence. Second Opinion Benefit: Criticare provides for taking another opinion on the first diagnosis of the Critical Illness. The second opinion agency transfers the medical reports and diagnosis to a expert panel in US for review and independent opinion on diagnosis and line of treatment. This facility is absolutely free of cost to the customer and is applicable on the covered Critical Illnesses only. Additional Features: No medical examination is required - Guaranteed Acceptance (the ages of 18 and 60 years) Critical Illnesses covered: First Heart Attack Stroke Cancer (excluding skin cancer) Kidney Failure Major Organ Transplant Coma Major Burns Multiple Sclerosis Kidney Failure Total Blindness Exclusions:
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This entire Policy does not provide benefits for any loss resulting in whole or in part from, or expenses incurred, directly or indirectly in respect of: 1. Any Pre-existing Condition; or 2. Suicide, attempted suicide (whether sane or insane) or intentionally self? Inflicted Injury or Illness, or sexually transmitted conditions, mental or nervous disorder, anxiety, stress or depression, Acquired Immune Deficiency Syndrome (AIDS), Human Immune deficiency Virus (HIV) infection
TRAVEL
Whether you're traveling on Business or Liesure, Tata AIG covers you. These are the things you plan for when you travel - business, sight seeing, shopping. How about lost baggage (and passports), personal accidents, even a hospital stay in a strange place? Very few people plan for real risks like these. Tata AIGs Travel Insurance program is meant for exactly this to take care of any unforeseen emergencies during your travel abroad or in India. We today are the trendsetting insurers in the area of travel insurance worldwide (AIG is the largest travel insurance company in the world) and we deliver the promise to all of our customers. Tata AIG has access to that expertise - so you get the services of a multilingual team familiar with local conditions and systems. Of course, every Tata AIG travel product sets benchmarks on service excellence, worldwide coverage and value for money not forgetting ease of purchase and lightning quick claims settlement. Tata AIG - the best choice for travel insurance.

First to launch on-line travel insurance. 100% reliability and unbeatable up-time record. In-house assistance service AIG -Assist in North & South America; ISOS for rest of the world. AIG presence in over 130 countries.
In Travel Insurance they provide various other services such as: Travel Guard Asia Travel Guard Domestic Travel Guard
Travel Guard
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Travel in peace anywhere in the world. Travel with Travel Guard. A holiday is important time to recharge yourself. It is what you work for and owe yourself. An injury or illness on a trip like this can be unpleasant and expensive. Tata AIG's Travel Guard is a "Global Travel Protection" policy that any resident Indian between the ages of 6 months and 70 years can buy (for travel abroad on business or leisure). You need no medical certification, whatever your age, though you do need a declaration of recent medical history. Any pre-existing ailments or medical conditions are not covered under this policy. Feautures : Coverage of Medical Expenses: Travel Guard takes care of your medical expenses due to accident and sickness while traveling so that you can concentrate on better things like enjoying the holiday.
Checked Baggage Loss: Compensation for the loss of checked in baggage. Baggage delay: Compensation for reasonable expenses incurred for purchase
of emergency personal effects due to delay in arrival of checked in baggage, whilst overseas. Additional Features (with Family Option): Automatic Extension of policy Emergency Cash advance No medical examinations up to the age 70 years. Exclusions: You are not covered if any expenses incurred directly or indirectly in respect of: traveling against the advice of the physician; for obtaining treatment; pre-existing ailments & complications arising out of them; Suicide or attempted suicide; war; terrorism; illegal acts; dangerous sports etc For other exclusions please refer to the policy wordings.
Asia Travel Guard

Holidays are the perfect opportunity to enjoy yourself and be with your loved ones. These special moments of togetherness are meant to be cherished forever. With Tata AIG's Asia Travel Guard" we ensure that every single moment of your holiday remains a
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sweet memory. So go ahead and enjoy!!.... because we understand that's what the holidays are meant to be!! As for the rest of things" we have got you covered".
Personal Accident
24-hr personal accident cover upto US$ 15,000.

Medical Expenses Cover
Reimbursement of medical expenses due to accident and sickness.

Personal Liability
Compensation for damages to be paid to a third party, resulting from death, bodily injury or damage to property; caused involuntarily by the insured. Assistance Services:

Medical Services provider referral Arrangement of hospital admissions Lost luggage assistance Emergency Travel Services Embassy referral services Claims procedure information services
Exclusions: This policy does not cover expenses directly or indirectly in respect of : traveling against the advice of a physician, for obtaining treatment, pre-existing ailments & complications arising out of them, suicide or attempted suicide, war, illegal acts, traveling under the influence of drugs, terrorism, dangerous sports etc. Please refer to the Policy wordings for other exclusions. The coverage, terms & exclusions have been outlined briefly; kindly refer the policy wordings for complete details.
Domestic Travel Guard
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Traveling to new locations is always exciting, whether it is domestic or international. However niggling concerns such as flight delays, baggage loss, ticket loss etc. eventually end up spoiling the complete experience. Tata AIG introduces the right product for you - Domestic Travel Guard - a unique travel insurance product for travel anywhere within India. With this extra precautionary measure by your side, enjoy complete peace of mind for all anxieties on your trip. Domestic Travel Guard also offers many unique benefits such as family transportation cover in case of emergencies, lost ticket reimbursements, missed departure compensations, personal liability coverage abd personal accident insurance. So the next time you are traveling, ensure that you leave behind your worries and enjoy every moment of the trip. Features: 24 hrs. Worldwide Emergency Assistance Service Emergency Medical Evacuation Repatriation of remains Personal Liability Exclusion: This policy does not cover expenses directly or indirectly in respect of : traveling against the advice of a physician, for obtaining treatment, pre-existing ailments & complications arising out of them, suicide or attempted suicide, war, illegal acts, traveling under the influence of drugs, terrorism, dangerous sports etc. Please refer to the Policy wordings for other exclusions.
Tata AIG Life Insurance Company

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Ltd.
Introduction:
Tata AIG Life Insurance Company Limited (Tata AIG Life) is a joint venture company, formed by the Tata Group and American International Group, Inc. (AIG). Tata AIG Life combines the Tata Groups pre-eminent leadership position in India and AIGs global presence as one of the worlds leading international insurance and financial services organization. The Tata Group holds 74 per cent stake in the insurance venture with AIG holding the balance 26 per cent. Tata AIG Life provides insurance solutions to individuals and corporates. Tata AIG Life Insurance Company was licensed by Insurance Regulatory and Development Authority to operate in India on February 12, 2001 and started operations on April 1, 2001. Tata AIG Life Insurance Company, Ltd. provides life insurance solutions to individuals and corporations. It also provides underwriting services for commercial and industrial insurance in America. Tata AIG also manages liquid, income, and equity funds. The company was formed in 2001. Tata AIG is based in Mumbai, India, and has additional offices in Delhi, Bangalore, Kolkata.
About the Tata AIG Life Insurance Company Ltd:

Tata AIG Life Insurance Company Ltd. is one of the famous life insurance companies in India offering several interesting life insurance policies. Tata AIG Life Insurance Company Limited is often known as Tata AIG Life. Basically, it is a joint venture company and operated by the Tata Group. This famous life insurance company was formed by the American International Group, Inc. (AIG) and the Tata Group. Being one of the leading and oldest business groups in India, in 2007-08, Tata Group has earned $55 billion or Rs.221, 320 crore (excluding Corus financials).
Who can avail life insurance policies from Tata AIG Life?
Tata AIG Life Insurance Company Limited or Tata AIG Life brings to you a wide selection of life insurance policies for individuals, small business industries, large business industries and for associations. Apart from these, the company also provides additional life insurance coverage to assure the clients an insurance policy designed for them.
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Types of policies and services provided by Tata AIG Life Insurance Company Ltd.:
For individuals:

Tata AIG Life Health First Tata AIG MahaLife Gold Tata AIG Life InvestAssure Plus Tata AIG Life InvestAssure II Tata AIG Life Health Protector Tata AIG Life InvestAssure Care Tata AIG Life InvestAssure Gold Tata AIG Life Health Investor Tata AIG Life InvestAssure Extra Tata AIG Life LifePlus Tata AIG Life Assure Tata AIG Life ShubhLife Tata AIG Life Easy Retire Tata AIG Life Assure 10 Years / 20 Years / 30 Years Security Tata AIG Life Assure 21 years Money Saver Tata AIG Life Raksha 10 /15/ 20 /25 Tata AIG Life Assure Golden Years Plan
For the Children: Tata AIG Life Assure 21 years Money Saver Tata AIG Life Assure Career Builder Tata AIG Life Starkid Tata AIG Life InvestAssure II Tata AIG Life MahaLife Gold Tata AIG Life InvestAssure Plus Tata AIG Life Assure Educare at 18 & Assure Educare at 21 Retirement Plans:

Tata AIG Life Nirvana Tata AIG Life Easy Retire Tata AIG Life InvestAssure Gold Tata AIG Life Assure Golden Years Plan Tata AIG Life MahaLife Gold Tata AIG Life InvestAssure Future Tata AIG Life InvestAssure II Tata AIG Life Nirvana Plus.
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Corporate life insurance products offered by Tata AIG Life Insurance Company Ltd.:
The Tata AIG Life Insurance Company Limited also offers various corporate life insurance products that include
Group Pensions ; Employee Benefits ; Workplace Solutions.
Solution to the Employee Benefits
The Employee Benefits Division is a specialized department within the company specifically dealing with corporate insurance plans. This division currently operates from the Tata AIG Life Insurance Company Limited Head Office in Mumbai and from Regional Offices in Delhi, Kolkata and Bangalore. Employee Benefits division comprise of highly motivated and trained professionals. Back Office Operations are supported by COMPASS a global administration platform that provides the backbone for client servicing, actuarial reserving and reporting essential for a growing portfolio of group business. We have the following insurance products for Employee Benefits:
If you want a customizable insurance plan that covers your employees against death or terminal illness, see Tata AIG Life Group Term Life. If you want a better option for covering your employees than your existing EDLI scheme, see Tata AIG Life Group Term Life in Lieu of EDLI. If you want to cover your employees or customers against the risk of serious illnesses, see Tata AIG Life Group Health Plus.
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Get a comprehensive life insurance cover with double insurance benefit in case of Accidental Death; see Tata AIG Life Group Life Protector Plus. To ensure that the outstanding credit card balance your customers have is covered in case of their unfortunate demise, see Tata AIG Life Group Credit Card Term Insurance Protection Plan & Credit Shield Plus. If you want to cover your employees or customers against the risk of serious illnesses, see Tata AIG Life Group Health Plus. Get a comprehensive life insurance cover with double insurance benefit in case of Accidental Death; see Tata AIG Life Group Life Protector Plus. To ensure the mortgage obligations of your customers are covered in case of their unfortunate demise, see Tata AIG Life Group Single Premium Mortgage Reducing Term Insurance Plan / Tata AIG Life Group Regular Premium Mortgage Reducing Term Insurance Plan . To ensure that the short term or unsecured loan obligations of your customers are covered in case of their unfortunate demise, see Tata AIG Life Group Single Premium Personal Loan Reducing Term Insurance Protection Plan / Tata AIG Life Group Regular Premium Personal Loan Reducing Term Insurance Protection Plan .
Flexibility in this Solution:

The credit life insurance programs can be tailor made to meet the unique features of the lenders loan portfolio.
Program design will depend on various factors including the following:

Group size Total loan portfolio Maximum coverage amount required Age distribution of borrowers Coverage Amount: It could be level or reducing, usually adhering to the loan repayment pattern Premium Rate: It can be any one of the following - age specific, age banded or common rate depending upon the nature of the loan obligation Premium mode: Choices of Premium Payment Method/Frequency can be opted to meet lenders system and manpower support.
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The Advantages of Group Credit Insurance:-
For the Lender:

A tool to attract and retain loyal customers Eliminates the burden of debt collection if the default of payment is caused by the death or disability of the borrower Product differential in an increasingly competitive market
For the Borrower:

Peace of Mind Emergency aid to cover debt in the event of misfortune Saves time and effort in arranging individual insurance
Tax Benefits: You are eligible for Tax benefit as per the current tax laws
Solution for the Group Pensions
Tata AIG Life offers you two platforms - Traditional Fund & Unit-Linked Fund. Tata AIG Life is the only Insurance Company in India that offers both, Traditional & Unit Linked Schemes for Gratuity as well as Superannuation Schemes. The Traditional Fund offers a steady and more disciplined growth, whereas the Unit Linked Funds are market linked with options to invest up to 60% in equity funds. Tata AIG Life offers a transparent mechanism of Unit Linked Fund Management with five types of funds Bond, Growth, Balanced, Equity and Short Term Fixed Income Fund. An employer can select any combination between Traditional and Unit Linked plans with or without exposure to equity funds. To help clients capitalize on market variances, Tata AIG Life also offers the option of switching between Unit Linked plans.
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Tata AIG Lifes Fund Management process follows an approach that ensures excellent fund management and strict compliance to internal and external regulations. We have a strong In-house Fund Management Team and a Board Level Investment Committee that takes decisions with regard to your investments. Our Actuarial and Compliance teams ensure internal and external compliances to issues like investments, procedures and solvency margin. We have the perfect plan to fit any Retirement Benefit need you may have:

Tata AIG Life Comprehensive Superannuation Scheme Policy. Tata AIG Life Comprehensive Gratuity Scheme. Tata AIG Life Group Immediate Annuity with return of Purchase Price. Tata AIG Life Retirement Assure Group Superannuation Scheme (Unit Linked). Tata AIG Life Retirement Assure Group Gratuity Scheme (Unit Linked).
Workplace Solutions
How does your Company benefit?

Comprehensive insurance products to enhance your current employee benefit plan at no employer cost ; Helps control the cost of providing employee benefits ; Flexible plan designs ; Convenience of payroll deduction ; No administrative burden due to the co-ordination and flexibility of voluntary benefit options with your payroll services ; Improved goodwill amongst the employees ; Improved employee moral and productivity ;
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Reduced attrition rate.
How do your Employees benefit?

Increases their knowledge of existing benefits ; Provides an expanded list of benefits to choose from ; Allows freedom of product choice in the absence of sales pressure ; All benefit options are based on their personal needs and priorities ; Convenience of personal counselling provided at the workplace . Payroll deduction ensures that the employee's pay is invested optimally.
What you need to do?

Endorse the program Provide support in communication of new benefits Help arrange group and / or individual meetings with your employees Create awareness Actual Enrollment activity Provide convenient payment support Allow future communication and servicing.
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Policies Offered by TATA AIG Life Insurance Company Ltd.

Tata AIG Life Health First
Quality healthcare is expensive; you need a policy that covers all contingencies. Tata AIG Life Health First (Health First) provides you with security by guaranteeing a lump sum irrespective of your medical bills. You can purchase this policy while your existing medical insurance policy is still in force and renew it until age 64 without additional medical examinations. Key features include: The benefits shown below are for a policy purchased for 10 units:

Daily Hospitalization Benefit (DHB): During hospitalization, we will pay an allowance of Rs. 2,500 per day. Critical Illness Cover: You get Rs. 12.50 lakhs in the case of first diagnoses of specified of the 12 critical illnesses. Policy can be purchased from 1 to 10 units.
Tax Benefits and Age Eligibility:
Premiums paid for Health Insurance Benefits are eligible for tax benefits under section 80D, while premiums for Life Insurance Benefits are eligible for tax benefits under section 80C of the Income Tax Act, 1961.* Policy available for persons between 18 and 60 years of age.
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Tata AIG Life Assure One year/ Five Years/10 Years/ 15 Years / 20 Years / 25 Years Lifeline Plans, and Term to age 60 known as Assure Lifeline to Age 60
If you are looking for high coverage at an affordable cost, this policy is for you. Your family can maintain their current lifestyle, even if something happens to you. Key features include:

Coverage is available for 1, 5, 10, 15, 20 and 25 years or until age 60. Term plans can be converted into any of our select savings plans, at attained age premium rates.
Tax Benefits, Riders and Age Eligibility
Premiums paid under this plan are eligible for tax benefits under Section 80C of the Income Tax Act, 1961. Any sum received under this plan is exempt from tax under section 10(10D) of the Income Tax Act, 1961. Policy is available to persons between the ages of 18 and 60 years and varies based on the term of the policy.
Tata AIG Life Assure 10 Years / 20 Years / 30 Years Security & Growth Plans
This endowment policy enables your dependants to receive the sum assured in the unfortunate event of your death while this policy is still in force. If you should outlive the
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policy term, you will still receive the sum assured, along with a range of bonuses. This plan is ideal as a retirement planning tool. Key features include:

A guaranteed addition of 10% of the sum assured if the policy has been in force for 10 years or more, is payable on death or maturity. A reversionary bonus is payable on death or maturity. A Terminal bonus paid on maturity or death if the policy has been in force for a minimum 10 years.
Tax Benefits, Riders and Age Eligibility:
Premiums paid under this plan are eligible for tax benefits under Section 80C of the Income Tax Act, 1961. Any sum received under this plan is exempt from tax under section 10(10D) of the Income Tax Act, 1961.* Term, Accident, Disability and Critical Illness riders are available for added protection.
Tata AIG Life Assure 21 years Money Saver
This savings plan gives you the cash payments at specified intervals to fund your familys needs at critical milestones or support your financial obligations. You get the dual benefits of life insurance coverage plus the flexibility of periodic payments. Key features include:

10% of the sum assured is paid on survival on the 3rd /6th /9th /12th /15th and 18th policy anniversaries. 40% of the sum assured will be paid on maturity (i.e. on the 21st anniversary of this policy). The entire sum assured is distributed to your beneficiaries, irrespective of cash payments already made, in the unfortunate event of your death before the end of the policys term. A 10% Guaranteed Addition is payable on death or maturity, if the policy has been inforce for 10 years.
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A reversionary and terminal bonus payable on death or maturity. Terminal bonus is available only if policy is in force for more than 10 years. Bonuses are paid depending on performance of the company.
Premiums paid under this plan are eligible for tax benefits under Section 80C of the Income Tax Act, 1961. Any sum received under this plan is exempt from tax under
Tata AIG Life Assure Golden Years Plan
Tata AIG Life Assure Golden Years(Assure Golden Years) is an endowment policy that provides both safety and steady returns. In the unfortunate event of your death, your dependants will receive the sum assured; otherwise your savings will continue to grow. Should you live past the term of the policy, you will receive both the sum assured as well as a host of bonuses. Key features include:

A guaranteed addition of 10% of the sum assured if the policy has been in force for 10 years or more, is payable on death or maturity. A reversionary bonus is payable on death or maturity. A Terminal bonus paid on maturity or death if the policy has been in force for a minimum 10 years. Reversionary and Terminal bonuses are non-guaranteed and are dependent on Company performance.
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Premiums paid under this plan are eligible for tax benefits under Section 80C of the Income Tax Act, 1961. Any sum received under this plan is exempt from tax under section 10(10D) of the Income Tax Act, 1961.*
Tata AIG Life Easy Retire
Today, you are busy working hard to achieve your goals. You are going to retire one day. No matter how you want to live your life after retirement you need to plan and arrange for a regular income. Tata AIG Life Insurance Company Ltd presents Tata AIG Life Easy Retire(Easy Retire) an individual immediate annuity, the ideal solution to convert your corpus to regular income. The regular income helps you cope with the expenses that continue even when you stop working and in fact increase with age as a result of mounting health bills and increasing prices. Easy Retire is an immediate annuity plan with Return of Purchase Price (RoPP) which can be purchased through a single premium payment. The plan provides for annuity payments which are paid throughout the life time of an annuitant. How does the Plan Work?

All you have to do is pay a single premium to Tata AIG Life Insurance Company Ltd. (This amount is your purchase price) Choose annuity payment modes [the frequency at which you want the income] monthly, quarterly, half-yearly or yearly Tata AIG Life Insurance Company Ltd guarantees you a rate per thousand at the time of purchase and this depends on the age as well as purchase price.
Annuity - Series of regular payments received by the policy holder
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Annuitant - Person who receives the annuity benefit. Entry Conditions: Minimum Purchase amount Minimum age of purchase Maximum age of purchase Policy period Premium payment Period Minimum annuity installment Annuity rates - Unisex Medical Requirement Rs. 50,000 21 years 80 years Life time Single Rs. 3,000 p.a Yes None
Tata AIG Life InvestAssure Health
Each one of us has their own ambitions and goals in life. But life itself can pose several uncertainties. An accident or illness can strike anytime, throwing our plans off track. In a situation like this hospitalization and medication expenses can burn a hole in your savings. At such a time, Tata AIG Life InvestAssure Health can prove to be a source of support, taking care of the financial burden you and your family may have to go through. Yet at the same time, being a unit linked plan Tata AIG Life InvestAssure Health ensures that you can still continue to meet your financial goals and achieve whatever dreams you might have for your loved ones. Key features include:
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Daily Hospital Benefit limit: Rs. 500-3000 (in multiples of Rs.500) per day Double benefit if hospitalization occurs in ICU Surgical benefit equivalent to 20 times the daily hospitalization benefit
Eligibility:
Minimum issue age of 18 years (5 years for the child) and maximum issue age of 55 years (17 years for the child) with maximum maturity age of 65 years
Tax Benefits: As per the current tax rules, premiums paid in respect of morbidity are eligible for tax deduction under section 80D of the Income Tax Act, 1961 (the Act). The balance of premium is eligible to tax deduction under section 80C of the Act, provided the annual premium during the year does not exceed 20% of the sum assured. The Are you prepared to meet unexpected expenses that can arise because of hospitalisation due to any illness or even an accident? Today, with rising health care costs, Tata AIG Life Hospi CashBack policy helps protect your savings by covering all expenses related to hospitalization. Tata AIG Life Hospi CashBack is one of a kind policy that pays you fixed benefits for expenses arising through hospital charges, care charges, ambulance charges and other expenses right from Day 1 of hospitalization. Multiple Claims are also possible under the plan, with the guarantee that you will get your premiums refunded on maturity~, and also a Guaranteed Addition on your premiums if you so choose.
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TATA AIG INSURANCE
Key features include:

Your cover starts from day 1 of hospitalization^. Guaranteed Return of premium on maturity, irrespective of number of claims made. Pre-existing illness cover after 24 months of continuous renewal with us. Silver Rs.500 15 90 15 15 100% Total premiums paid OR 100% + 10% guaranteed addition of total premiums paid are returned~ Higher of (a) Sum Assured# OR (b) Return of total premiums paid till the point of death~. Gold Rs.1000 30 180
Package Daily Hospitalisation Income Benefit Coverage (days/policy year) Lifetime Maximum (days) Term of Policy Premium Payment Term Maturity Benefit
Death Benefit*
* In case of first policy year the death benefit will be limited to total of all the premiums paid~ # Sum Assured (5 * Annualised Premium) at the policy inception will remain constant till the end of the policy term
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TATA AIG INSURANCE
Eligibility: Policy is available for persons between 18 and 55 years of age.
Tax Benefits: Premiums paid under this plan are eligible for tax benefits under Section 80C of the Income Tax Act, 1961. Any sum received under this plan is exempt from tax under section 10(10D) of the Income Tax Act, 1961.
Tata AIG Life Health Investor
Hospital rooms. Doctors bills. Stress. Worry. Tears. Frustration. Life seems to be over the moment one is diagnosed with a critical illness. But, with Tata AIG Life Health Investor(Health Investor) from Tata AIG Life, life does not have to come to a standstill. Because the financial cover it offers plays a large role in contributing to your peace of mind and subsequent recovery. Whats more, if you are fortunate enough never to be diagnosed with a Critical Illness, the premiums you pay will never go to waste as they will be refunded in case there is no claim. Protection Against 12 Critical Illnesses: The critical illnesses covered under this policy include Benign Tumour, Paralysis, Parkinsons Disease, Total Blindness, Cancer, Stroke, Heart Attack, Chronic Renal Failure, Coronary Bypass Surgery, Heart Valve Surgery, Aorta Surgery and recipient of major organ transplant of Heart, Lung, Liver, Kidney, Pancreas or Bone Marrow. The coverage under critical illness benefit would be available only after 180 days from the issue/reinstatement date. However, this policy will cease after one claim is made. So, invest a little in your health now and stay protected and worry-free. Key benefits includes:
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TATA AIG INSURANCE
Lumpsum benefit on diagnosis of 12 critical illnesses Cover in case of unfortunate death 100% Return of Premium in case of no claim 5% increase in the Critical Illness Benefit upto a maximum of 50% of Sum Assured Limited premium payment period Level Premium.
Eligibility:
Policy is available for persons between 18 and 55 years of age.
Tax Benefits Premiums paid under this plan are eligible for tax benefits under Section 80C of the Income Tax Act, 1961. Any sum received under this plan is exempt from tax under section 10(10D) of the Income Tax Act, 1961.*
Tata AIG Life InvestAssure II
Tata AIG Life InvestAssure II(InvestAssure II) is a unique, flexible insurance plan which combines the security of a life insurance policy with the opportunity to exploit the upside of market returns by investing in different kinds of securities through multiple fund options. You can direct the investments by creating your own investment fund portfolio from a range of options to suit your needs and preferences. Key features include:

Policy terms of 15, 20, 25 or 30 years. No penalty for surrendering the policy any time after the 6th year. The Sum Assured is a multiple of the Annualised Premium payable. The multiple varies according to age at entry and policy term. You have a choice of premium multiples to choose from. Any premium not deducted for coverage and charges may be invested in a wide range of investment vehicles, including: an Equity Fund, Income Fund,
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TATA AIG INSURANCE
Aggressive Growth Fund, Stable Growth Fund, a Short Term Fixed Income Fund and Select Equity Fund. InvestAssure II also offers the flexibility to switch between funds, premium topups, partial withdrawal, premium holiday, policy reinstatement, and multiple premium payment modes.
Tata AIG Life InvestAssure Extra
Tata AIG Life InvestAssure Extra(InvestAssureExtra) is a unique, investment linked insurance plan for protection. Given a choice, most people would like to increase the earning potential of their insurance premium by deciding their own investment and risk limits. It combines the security of a life insurance policy with the opportunity to exploit the upside of market returns (subject to investment volatility) by providing an option to invest in different kinds of securities through multiple fund options like - Growth Maximiser Fund, Growth Enabler Fund, Capital Guarantee Fund , Short Term Fixed Income Fund and Select Equity Fund. What's more, you can direct the investments by creating your own investment fund portfolio from a range of options to suit your needs and preferences. Key features include:

Provides security to your family in case of your unfortunate demise. Gives you the flexibility to choose your funds based on your risk profile. Gives you Return of Premium guarantee on maturity in case you opt for Capital Guaranteed Fund**. Provides an in-built Payor Benefit for juvenile ages (0-17 years). Enables you to enjoy market-linked returns with a potential for higher growth.
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TATA AIG INSURANCE
**Guarantee is applicable only if all due premiums have been paid. The guarantee will not apply on premium allocated towards other funds and on top-up premiums. Riders:
Option to attach the Tata AIG Life Accidental Death Benefit Limited Underwriting Rider (UIN: 110A018V01) for issue aged 18 to 45 years at a nominal extra cost.
Tax Benefits
Eligibility: Term of Policy

15 years 20 years
Minimum Age at Issue

30 days 30 days
Maximum Age at Issue

45 years 45 years
Minimum Premium
Rs.12,000 Rs.12,000
Tata AIG Life InvestAssure Care
An inspiration that translates into a host of innovative product solutions for you. Tata AIG Life introduces Tata AIG Life InvestAssure Care(InvestAssure Care), a unique investment linked insurance plan with an in-built Critical Illness benefit for the first 5 years of the policy. Given a choice, most people would like to increase the earning potential of their insurance premium by deciding their own investment and risk limits. InvestAssure Care, a unique, flexible insurance plan combines the security of a life insurance policy with the opportunity to exploit the upside of market returns (however, with increased investment volatility) by providing an option to invest in different kinds of securities through a choice of five fund options.
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TATA AIG INSURANCE
What's more, you can direct the investments by creating your own investment fund portfolio from a range of options to suit your needs and preferences. Benefits:

Provides security to your family in case of your unfortunate demise. Gives you the flexibility to choose your funds based on your risk profile. Gives you Return of Premium guarantee on maturity incase you opt for Capital Guarantee Fund Enables you to enjoy market-linked returns with a potential for higher growth. Provides Critical Illness cover for the first five years of the policy.

Initial Sum Assured: You have an option to choose either the sum assured or premium you are willing to pay. Top-Up: Single Premium top up is allowed anytime during the period. Minimum Single top-Up Premium is Rs. 5000/- and will be allowed a maximum of four times in a policy year. Top-Up Sum Assured: You have an option to choose an additional sum assured equal to 1.25 or 5 times Single Top-Up Premium, subject to underwriting. Critical Illness (CI) Benefit: InvestAssure Care offers inbuilt Critical Illness (Lumpsum) benefit equal to 50% of the basic Sum Assured for issue ages 18-45 years. This benefit is an integral part of the product and is mandatory. This benefit is applicable for the first 5 years of policy term. This Critical Illness covers the following Critical Illnesses and Surgeries: (a) Cancer (b) Stroke (c) Heart Attack (d) Coronary Bypass Graft Surgery (e) Kidney Failure (f) Major Organ Transplant like Heart, Lung, Liver, Kidney or Pancreas or Bone Marrow Transplant. Choice of Five Fund Options: Growth Maximizer Fund, Growth Enabler Fund, Short Term Fixed Income Fund,Capital Guarantee Fund and Select Equity Fund.
Eligibility Term of Policy 15 years 20 years Minimum Age at Issue 30 days 30 days Maximum Age at Issue 45 years 45 years Minimum Annual Premium Rs.12,000 Rs.12,000
For a healthy male aged 35 with chosen policy term of 20 years and Annual Regular Premium payment option of Rs. 50,000 with a premium multiple of 10.
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TATA AIG INSURANCE
Tax Benefits Premiums paid under this plan are eligible for tax benefits under Section 80C of the Income Tax Act, 1961. Any sum received under this plan is exempt from tax under section 10(10D) of the Income Tax Act, 1961.*
Tata AIG Life InvestAssure Flexi
Each one of us has our own set of financial needs, aspirations and priorities. In many ways these needs are unique and so they need to be addressed in a unique way. We may have different time horizon for investments as they depend on the underlying needs. For example, you may need money for your childs education after say 10 years or 15 years or 20 years depending on the present age of your child. This may be true for many other needs as well. Your insurance requirements may also be different depending on your age and financial position in the family. How long you want to pay the premium is also an important consideration as this depends on your future earning capacity. Keeping this in mind, Tata AIG Life Insurance Company brings to you Tata AIG Life InvestAssure Flexi.(InvestAssure Flexi) This plan is a unit linked endowment investment plan and provides you with ample flexibility to suite your needs and priorities and to help you to achieve your financial goals. Key features include:

Provides security to your family in case of your unfortunate demise. Flexible Policy Term: You may choose the policy term from 5 years to 40 years depending on your needs. Flexible Premium Paying Term: You can choose premium paying term of 3, 5, 10, 15, 20, 25, 30, 35 or 40 years. You can also opt for a premium paying term which is same as policy term chosen by you. Flexible Sum Assured: The minimum sum assured is higher of 5 times or (policy term/2) times the annual premium.
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TATA AIG INSURANCE
Eight Fund Options: Whole Life Mid-cap Equity Fund, Whole Life Aggressive Growth Fund, Whole Life Stable Growth Fund, Whole Life Income Fund, Whole Life Short-Term Fixed Income Fund, Capital Guarantee Fund, Large Cap Equity Fund,Select Equity Fund. Minimum Issue age of 0 (30 days) and maximum issue age of 70 years with maximum maturity age of 80 years. Minimum Premium: Rs. 15,000 p.a.
Riders: The following riders can be added for additional protection at a nominal extra cost:
Tata AIG Life Accidental Death Benefit (ADB), Rider (UIN 110C003V01), Tata AIG Life Accidental Death and Dismemberment (Long Scale) (ADDL), Rider (UIN 110C004V01), Tata AIG Life Payor Benefit Rider (Only For Juvenile Policy) (UIN 110C002V01), Tata AIG Life Critical Illness (Lump Sum Benefit) Rider (UIN 110C012V01) and
New addition: Tata AIG Life Surgical Benefit Rider (UIN 110C021V01) Tax Benefits: Premiums paid under this plan are eligible for tax benefits under Section 80C of the Income Tax Act, 1961. Any sum received under this plan is exempt from tax under section 10(10D) of the Income Tax Act, 1961.
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TATA AIG INSURANCE
Tata AIG Life InvestAssure Gold
Tata AIG Life InvestAssure Gold(InvestAssure Gold) is a non-participating Whole Life Unit Linked insurance plan, which offers you the unique advantage of combining the protection and tax advantages of life insurance with the attractive prospects of investing in different kinds of securities through multiple fund options. With this plan, you can direct the investments by creating your own investment fund portfolio from a range of options to suit your needs and preferences. Key features include:

Flexibility to choose your premium payment term: 5 years or for the entire duration of the policy. Benefit period: For the entire life till 100 years of age. Facility to increase the premium through Top up Premium. Provides security to your family in case of your unfortunate death. Facility to increase the Sum Assured through Top up Premium. Loyalty Benefit: Additional 0.25% of units under the Regular Premium Account every 5 years provided the policy is in force.
Premiums paid under this plan are eligible for tax benefits under Section 80C of the Income Tax Act, 1961. Any sum received under this plan is exempt from tax under section 10(10D) of the Income Tax Act, 1961.* You may attach Accidental Death Benefit, Accidental Death and Dismemberment, Payor benefit or Critical Illness Riders at an extra cost. Policy is available for persons between 30 days and 70 years of age. The policy matures at age 100.
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TATA AIG INSURANCE
Tata AIG Life InvestAssure Insta
In todays fast paced life, we all like to keep things simple. At Tata AIG Life Insurance Company Ltd. (Tata AIG Life) we understand this fact and endeavour to come up with solutions that will make your life simpler. Tata AIG Life presents an easy and instant solution: Tata AIG Life InvestAssure Insta, a simple unit linked insurance plan. It is easy to understand and easy to buy. You just have to choose your premium, term and funds to avail of the dual benefits of insurance coverage and wealth creation. This plan enables you to grow your investment through high allocation and a guaranteed maturity bonus. Key features include:

Policy Term: 10/15 years Premium Paying Term: Regular Annualised Premium options: Rs. 20,000 / Rs. 30,000 / Rs. 40,000 / Rs. 50,000 Sum Assured: 5 times the Annualized premium Maturity Bonus of 5% of Regular Premium Fund Value# Five Investment Fund Options Premium mode: Annual only
Eligibility:
Minimum issue age of 0 years (30 days) and maximum issue age of 60 years, with maximum age at maturity of 70 years for 10 year term and 75 years for 15 year term. Annualised Premium options: Rs. 20,000 / Rs. 30,000 / Rs. 40,000 / Rs. 50,000.
Tax Benefits:
Premiums paid under this plan are eligible for tax benefits u/s 80C of the Income Tax Act, 1961*. Moreover, life insurance proceeds enjoy tax benefits as per section 10(10D) of the said Act.
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TATA AIG INSURANCE
Tata AIG Life InvestAssure Plus
Tata AIG Life InvestAssure Plus(InvestAssure Plus) is a single premium Unit Linked insurance plan especially designed for the investment-savvy. It gives you the flexibility of choosing your own investment strategy, besides providing protection to your loved ones in case of a misfortune. This plan gives you an opportunity to make the most of good market returns, albeit with an increased investment volatility. At the same time, it does not compromise the security that you want to provide to your loved ones. Multiple benefits of InvestAssure Plus:

Provides security to your family in case of your unfortunate death. Gives you the flexibility to choose your fund based on your risk profile. Enables you to enjoy market-linked returns with a potential for higher growth.

Policy terms of 15, 20, 25 or 30 years. No penalty charges for surrendering the policy any time after the 3rd year. Flexibility to choose your Sum Assured, depending on your age profile and your needs.
Tax Benefits: Premiums paid under this plan are eligible for tax benefits under Section 80C of the Income Tax Act, 1961. Any sum received under this plan is exempt from tax under section 10(10D) of the Income Tax Act, 1961.*
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TATA AIG INSURANCE
Age Eligibility Term of Policy 15 years 20 years 25 years 30 years Minimum Age 30 days 30 days 30 days 30 days Maximum Age 60 years 55 years 50 years 45 years Maturity and Death Benefits
Tata AIG Life Jeevan Lakshya
Each one of us desires the best from life and certainly wants our finances to support our desires. Given the fast pace and complexities of our day to day lives, as an investor, you would seek a simple solution for wealth creation and protection. Tata AIG Life Jeevan Lakshya is an easy to purchase unit linked insurance plan. The plan provides you the dual benefit of investment and protection with just a health declaration. It also acts as a flexible money saver which helps you to achieve the right asset allocation through the benefits of rupee cost averaging. Key features include:

Policy terms: 15/20/25/30 years Premium paying term : same as policy term Sum Assured: 5 times the Annualized premium
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TATA AIG INSURANCE
Eligibility: Features Minimum/Maximum Issue Age Maximum Maturity Age Minimum Annualised Premium 0 (30 days) / 60 yrs 75 Years Rs.18,000
Maximum Annualised Premium Rs.50,000 Premium Mode Premium Payment Period Annual/Semiannual/Quarterly/Monthly Regular
Maturity Benefit: On survival to the end of the policy term, you will not only receive the Total Fund Value which is equal to the value of the Regular Premium Account plus the value of the Top-Up Premium Account (if applicable) valued at applicable unit price along with the Maturity Bonus equal to 3% of the regular premium fund value. No part of Maturity Bonus is payable on the surrender / lapse / termination & on death. Riders: For extra protection an option to attach Tata AIG Life Accidental Death Benefit Limited Underwriting Rider (UIN: 110A018V01) for issue ages 18 to 55 years at a nominal extra charge. Rider cover cannot exceed the basic policy cover Tax Benefits: Premiums paid under this plan are eligible for tax benefits under section 80C of the Income Tax Act, 1961. Moreover, life insurance proceeds enjoy tax benefits as per section 10(10D) of the said Act. Please consult your tax advisor for more details.
Tata AIG Life LifePlus
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TATA AIG INSURANCE
If you outlive the 20-year term of a Tata AIG Life LifePlus (LifePlus)policy, all of your premium payments will be refunded; if you die by natural causes while the policy is in force, your beneficiaries will receive the sum assured; should you die due to accidental causes, your beneficiaries will receive double the sum assured. Key features include:

All premiums paid are returned (without interest) in the event you outlive the policys 20-year term. Premiums are payable only for the first 15 years of the 20-year term.
Premiums paid under this plan are eligible for tax benefits under Section 80C of the Income Tax Act, 1961. Any sum received under this plan is exempt from tax under section 10(10D) of the Income Tax Act, 1961.* Policy available for persons between 18 and 60 years of age.
Tata AIG Life MahaLife Gold
This unique policy is an ideal planning vehicle to fund your retirement. It provides a steady income and insurance coverage for life. Premiums are payable only for the first 15 years, and can be used to cover the future expenses of your children. Key features include:

A guaranteed annual coupon of 5% of the sum assured every year for the rest of the insureds term from the 10th policy anniversary. Yearly cash dividends are available from the 6th policy anniversary onwards (depending on Company performance). The entire sum assured is paid tax-free as per current Income Tax Laws.
The guaranteed 5% coupon and non-guaranteed cash dividends are tax free as per current Income Tax Laws.
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TATA AIG INSURANCE
Premiums paid under this plan are eligible for tax benefits under Section 80C of the Income Tax Act, 1961. Any sum received under this plan is exempt from tax under section 10(10D) of the Income Tax Act, 1961.* Policy available for persons between 0 years and 60 years of age.
Tata AIG Life Raksha 10/15/20/25
A simple term plan ideal for young families with large financial obligations at extremely low premiums and yet providing high life coverage. Key features include:

Policy terms of 10, 15, 20 and 25 years. Multiple premium payment options annual, semi-annual, quarterly or monthly.
Tax Benefits and Age Eligibility

Premiums paid under this plan are eligible for tax benefits under Section 80C of the Income Tax Act, 1961. Any sum received under this plan is exempt from tax under section 10(10D) of the Income Tax Act, 1961.* Policy is available to persons between the ages of 18 and 50 years. The policy is renewable up to a maximum age of 59, and expires when the insured attains the age of 60.
Tata AIG Life ShubhLife
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TATA AIG INSURANCE
Have you been delaying getting life insurance because you cannot afford to pay high monthly premiums? Then we have the ideal product for you. Tata AIG Life ShubhLife(ShubhLife) provides you 100% life insurance protection and a range of bonuses but the premiums you pay are among the lowest of any similar endowment policy. Key features include:

Term policies just give you death cover. This policy gives you bonuses along with death cover. You can choose a term of 10, 15, 20, 25 or 30 years. Apart from full premium paying term, you can pay your premiums over 3, 5, 7 or 10 years. Guaranteed addition of 3% of sum assured of the Basic Policy is added on the first (1st) policy anniversary and on every alternate policy anniversary thereafter up till a maximum of half the policy term. The GA will be payable if the insured dies while the policy has been in force or if the policy matures. A simple reversionary bonus will be credited from the sixth policy anniversary until the end of the plan term depending on the performance of our Company.
Premiums paid under this plan are eligible for tax benefits under Section 80C of the Income Tax Act, 1961. Any sum received under this plan is exempt from tax under section 10(10D) of the Income Tax Act, 1961.* Attach Disability, Accident, Term, Waiver of premium and Critical Illness riders to this policy for added protection.
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TATA AIG INSURANCE
Tata AIG Life Health Protector - 5 Year Guaranteed Renewal Accident and Health Plan
This product is designed to protect you against most unforeseen causalities through a wide spectrum of benefits. So that you can live worry-free. Policy premium remains constant for 5 years. Key features include:
Accidental Death Benefit (ADB): Under this benefit, in the event of your unfortunate death due to accident, your family will receive an amount equal to ADB sum assured that has been specified by you . Total and Permanent Disability Benefit (TPD): Under this benefit a lump sum amount equal to the TPD sum assured will be paid in the event of sickness and accident.
Tax Benefits and Age Eligibility:
Premium paid under this policy towards Critical Illness/Cancer Care Benefit are eligible for tax benefits u/s 80D and the rest of the premium paid would be eligible for deduction u/s 80C of the Income Tax Act, 1961 respectively. Tax benefits are as per Income Tax Act, 1961, and are subject to modifications made thereto from time to time. Please consult your tax expert on the same. Anyone between ages 18 and 60 can apply for this policy.
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TATA AIG INSURANCE
Conclusion
Life Insurance is the fastest growing sector in India since 2000 as Government allowed Private players and FDI up to 26%. Life Insurance in India was nationalised by incorporating Life Insurance Corporation (LIC) in 1956. All private life insurance companies at that time were taken over by LIC.
Tata AIG Insurance Solutions is one of the most prestigious organizations in the business world. It employs thousands of employees and offers various opportunities to people to build a prospective career. As a leading name in the financial world, it identifies the potential and experience of the individual.
In 1993 the Government of Republic of India appointed RN Malhotra Committee to lay down a road map for privatisation of the life insurance sector.
While the committee submitted its report in 1994, it took another six years before the enabling legislation was passed in the year 2000, legislation amending the Insurance Act of 1938 and legislating the Insurance Regulatory and Development Authority Act of 2000. The same year that the newly appointed insurance regulator - Insurance Regulatory and Development Authority IRDA -started issuing licenses to private life insurers.
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TATA AIG INSURANCE
Bibliography
Referred to the website of TATA AIG:

www.tata.org www.tataiggeneralinsurance.org www.tataiglifeinsurance.org
Referred to the website of GOOGLE:
www.google.co.in
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Business Aspects In Banking And Insurance

TATA AIG INSURANCE

K.M.AGRAWAL COLLEGE. (B.M.S) Project On TATA AIG INSURANCE

SUBMITTED TO: MRS. SHARMILA KARVE.

Business Aspects In Banking And Insurance

TATA AIG INSURANCE

Business Aspects In Banking And Insurance

TATA AIG INSURANCE

7 8-10 11 12 13 13-14 14-15 16 17-34

Business Aspects In Banking And Insurance

TATA AIG INSURANCE

Business Aspects In Banking And Insurance

TATA AIG INSURANCE

Business Aspects In Banking And Insurance

TATA AIG INSURANCE

Services provided by TATA Group:

Business Aspects In Banking And Insurance

TATA AIG INSURANCE

American International Group (AIG)

Business Aspects In Banking And Insurance

TATA AIG INSURANCE

Business Aspects In Banking And Insurance

TATA AIG INSURANCE

The Restructuring Plan

A Message from the CEO

Recent statements from President and CEO Robert H. Benmosche.

Information for policyholders, frequently asked questions and contact detail.

Business Aspects In Banking And Insurance

TATA AIG INSURANCE

Incorporation of AIG Group

Area served Key people

Business Aspects In Banking And Insurance

TATA AIG INSURANCE

TATA AIG INSURANCe Company

Business Aspects In Banking And Insurance

TATA AIG INSURANCE

Tata AIG Insurance offers a number of products.

Individual insurance. Corporate insurance.

Solution to the Corporations

Employee Benefits Group Pensions Workplace Solutions

Business Aspects In Banking And Insurance

TATA AIG INSURANCE

Solution to the Individuals

AIG Life MahaLife Gold

See Tata AIG Life Health Investor

AIG Life InvestAssure Care

Life InvestAssure Extra

See Tata AIG Life InvestAssure Flexi

AIG Life InvestAssure Gold

Business Aspects In Banking And Insurance

TATA AIG INSURANCE

eventuality? See Tata AIG Life InvestAssure Optima

AIG Life Assure 21 years Money Saver

30 Years Security & Growth Plans

Tata AIG Mediclaim Policy:

Business Aspects In Banking And Insurance

TATA AIG INSURANCE

List of Life Insurers (as of Sept, 2008)

Business Aspects In Banking And Insurance

TATA AIG INSURANCE

20. CANARA HSBC Oriental Bank of Commerce LIFE INSURANCE.\

INSURANCE COMPANY IN INDIA