Tata AIA Life Insurance Good Kid

Give wings to your child
Give wings to your child

A Non-Linked, Participating, Anticipated Endowment Plan with inbuilt Waiver of Premium benefit that will help you move on with the growing needs of your child with Money Back Benefits and Milestone Additions, when it's exactly required; besides protecting your family from uncertainties. Invest today in this good plan to keep your kid's future good.

Benefits And Features

On death of the Life Assured during the policy term, the Sum Assured on death x (No. of premiums paid)/ (No. of premiums payable, during the entire policy term) will be payable. If death occurs in the last four policy years, i.e. after the Accrued Milestone Additions have been paid and/or the Money Back Benefit has commenced, the death benefit shall not be reduced by the amount of benefit already paid. This total amount will be subject to a minimum of 105% of Total Premiums Paid, as on the date of death.

Guaranteed Sum Assured on Maturity plus vested Compound Reversionary Bonuses plus Terminal Bonus (if any) shall be payable on maturity (at the end of policy term) after deduction of outstanding amount which are unpaid as on date of maturity provided the policy is in force and all due premiums have been paid.

Money Back Benefits for your child’s education and career needs.

Milestone Additions at the rate of 5% of Basic Sum assured, every year starting from the end of 1st policy year and will accrue till 5th policy year.

The accrued Milestone Additions will be paid at the end of policy Term minus 4 years.

Get life cover of at least 11 times the Annualised Premium for the entire policy term.

In case of unfortunate death of the Life Assured, policy continues with all benefits without paying any future premiums.

You will be eligible for tax benefits under Section 80C and Section 10(10D) of the Income Tax Act, 1961.

#The above exemption is as per the Income Tax Act 1961 and is subject to change as per amendments made from time to time.

If you are not satisfied with the terms & conditions/features of the policy, you have the right to cancel the policy by providing a written notice to the Company and receive the refund of all premiums paid without interest after deducting a) proportionate risk premium for the period on cover and b) stamp duty and medical examination cost (including applicable taxes, cesses & levies) which have been incurred for issuing the policy. Such notice must be signed by you and received directly by the Company within 15 days from the date of receipt of the policy document. The said period of 15 days shall stand extended to 30 days, if the policy is sourced through distance marketing mode, which includes every activity of solicitation (including lead generation) and sale of insurance products through voice mode, SMS, electronic mode, physical mode (like postal mail) or any other means of communication other than in person.

In case of death due to suicide by the Life Assured, whether sane or insane, within 12 months from the date of commencement (which is same as the date of inception of the policy), the nominee shall be entitled to “Total Premiums Paid”, provided the policy is in force. In case of death due to suicide by the Life Assured, whether sane or insane, within 12 months from the date of revival, the nominee shall be entitled to higher of “Total Premiums Paid” till date of death or the acquired surrender value as on the date of death, provided the policy is inforce.

Eligibility Criteria

Minimum: 0 (30 days)

Maximum: 17

Based on minimum Basic Sum Assured

Policy Term less 5 years

12 to 25 years

Annual/ Half-yearly/ Monthly

1The life assured in this plan shall be parent

2In this plan, nominee shal compulsorily be the child

3Basic Sum Assured in allowed in multiples of 1000

Click here for the Product Brochure.

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Disclaimers:

Insurance products are obligations only of the Insurance company. They are not bank deposits or obligations of or guaranteed by Citibank N.A, Citigroup Inc or any of its affiliates or subsidiaries or any Governmental agency. All claims under the policy will be solely decided upon by the Insurance Company. Citibank, Citigroup or any of their affiliates and group entities hold no warranty and do not make any representation about the insurance, the quality of claims processing and shall not be responsible for claims, recovery of claims, or for processing of or clearing of claims, in any manner whatsoever. This document does not constitute the distribution of any information or the making of any offer or solicitation by anyone in any jurisdiction in which such distribution or offer is not authorized or to any person to whom it is unlawful to distribute such a document or make such an offer or solicitation. Investment products are not available to US persons and may not be available in all jurisdictions.

The information provided on this website does not constitute the marketing of any products or services to individuals resident in the European Union, European Economic Area, Switzerland, Guernsey and Jersey. The content on this website is not, and should not be construed as, an offer, invitation or solicitation to buy or sell any of the products and services mentioned herein to such individuals.

Participation by the bank's customers in an insurance product is purely on a voluntary basis.

*IRS Circular 230 Disclosure: Citigroup, Inc., its affiliates, and its employees are not in the business of providing tax or legal advice to any taxpayer outside of Citigroup, Inc. and its affiliates. This document is not intended or written to be used, and cannot be used or relied upon, by any such taxpayer for the purpose of avoiding tax penalties. Tax benefits are subject to changes in the tax laws. Any such taxpayer should seek advice based on the taxpayer's particular circumstances from an independent tax advisor.

Citibank N.A. is a registered Corporate Agent of Tata AIA Life Insurance Company Limited, New India Assurance Company Limited, Royal Sundaram General Insurance Company Limited and Apollo Munich Health Insurance Company Limited under the composite license number CA0086 issued by IRDAI.

Life Insurance Policies:

These policies are underwritten by Tata AIA Life Insurance Co. Limited (IRDAI Registration No. 110)
CIN: U66010MH2000PLC128403 with its registered office at 14th Floor, Tower A, Peninsula Business Park, Senapati Bapat Marg,
Lower Parel, Mumbai 400013.

All guaranteed benefits are payable only when all premiums are paid when due.

Investment risk in the investment portfolio is borne by the Policy Holder. The premium paid in Unit Linked Life Insurance policies are subject to investment risks associate with capital markets and the NAVs of the units may go up or down based on the performance of the fund and factors influencing the capital market and the insured is responsible for his or her decision. Tata AIA Life is only the name of the Insurance Company and the funds offered are only the names of the funds and does not in any way indicate the quality of the contract, its future prospects or returns.

Product UINs:

UIN for TATA AIA Life Insurance Smart Income Plus - 110N126V03

UIN for TATA AIA Life Insurance Good Kid - 110N127V01

UIN for TATA AIA Life Insurance Sampoorna Raksha - 110N129V02

UIN for TATA AIA Life Insurance Sampoorna Raksha+ - 110N130V02

UIN for TATA AIA Life Insurance Gold Income Plan - 110N131V01

UIN for TATA AIA Life Insurance Freedom - 110N124V01

UIN for Tata AIA Life Insurance Wealth Maxima - 110L114V02

UIN for Tata AIA Life Insurance Wealth Pro - 110L111V02

UIN for Tata AIA Life Insurance Fortune Maxima - 110L113V02

UIN for Tata AIA Life Insurance Fortune Pro - 110L112V02

UIN for Tata AIA Life Insurance MahaLife Gold Plus - 110N110V01

UIN for Tata AIA Life Insurance Money Maxima - 110N109V01

UIN for Tata AIA Life Insurance MahaLife Magic - 110N108V01

UIN for Tata AIA Life Insurance Secure 7 - 110N107V01

Non-life Insurance Policies: Policies are underwritten by New India Assurance Company Limited (IRDAI Registration No. 190) CIN: U99999MH1919GOI000526 with its registered office at No.87, Mahatma Gandhi Road, Fort, Mumbai – 400 001, by Royal Sundaram General Insurance Company Limited (IRDAI Registration No. 102) CIN:U67200TN2000PLC045611 with its registered office at No. 21, Patullos Road, Chennai 600 002 or by Bajaj Allianz General Insurance Company Limited (IRDAI Registration No. 113) CIN: U66010PN2000PLC015329 with its registered office at Bajaj Allianz House, Airport Road, Yerawada, Pune 411 006.

Specialist Health Insurance Policies: Policies are underwritten by Apollo Munich Health Insurance Co. Limited (IRDAI Registration No. 131) CIN: U66030AP2006PLC051760 with its registered office at Apollo Hospitals Complex, Jubilee Hills, Hyderabad, Telangana 500 033 or by Aditya Birla Health Insurance Company Limited (IRDAI Registration No. 153) CIN: U66000MH2015PLC263677 with its registered office at 9th Floor, One Indiabulls Centre, Tower 1, Jupiter Mills Compound, S.B. Marg, Elphinstone Road, Mumbai 400 013.

For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding the sale.

For any queries with respect to your Insurance Policies bought through Citibank N.A., kindly contact 24 x 7 CitiPhone, The updated numbers are available on www.citibank.co.in

SECTION 41 OF THE INSURANCE ACT 1938 PROHIBITION OF REBATES
  1. No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take out or renew or continue an Insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy nor shall any person taking out or renewing or continuing a Policy accept any rebate, except such rebate as may be allowed in accordance with the published prospectus or tables of the Insurer.
  2. Any person making default in complying with the provisions of this section shall be liable for penalty which may extend to
    ten lakh rupees.