1. Tata AIA Life Insurance Plans are Rupee
denominated
insurance plans.
2. Foreign Exchange Rates are subject to change from
time
to time. Any associated
expense due to change in applicable rate, at the time of premium payment, shall be
borne
by the customer.
3. Any refund/payment arising out of Freelook
Cancellation,
Non-issuance of Policy,
surrender, maturity or death claims etc., will be calculated in INR.
4. Settlement of claim in foreign currency will be
permitted only in proportion in which
the amount of premium has been paid in foreign currency in relation to the total
premium
paid.
5. Residents outside India who are beneficiaries of
insurance claims/maturity/surrender
value settled in foreign currency may be permitted to credit the same to NRE/FCNR or
any
other account as permitted by RBI from time to time.
6. Resident beneficiaries of the insurance claims/
maturity/ surrender value settled in
foreign currency may be permitted to open and credit the proceeds thereof to their
RFC
(Domestic) Account.
7. Resident Policy holders who were outside India and
are
the beneficiaries of insurance
claims/maturity/surrender value settled in foreign currency may be permitted to
credit
the proceeds to the RFC Account opened by them on their becoming residents.
8. In respect of rupee life insurance policies issued to
Indians resident outside India
for which premium have been collected in non-repatriable rupees, Claims (Including
death
claims being settled in favor of resident outside India assignees/
nominees)/maturity
proceeds/surrender value may be paid only in rupees by credit to NRO account of the
beneficiary.
9. The NRI Customers may establish contacts on various
touch points mentioned on the
Company’s website www.tataaia.com
10. Taxes, if any, shall be applicable as per current
Tax
Laws and subject to change. A
similar disclaimer to be added in Premium Receipt as well;
11. Tata AIA Life Insurance Plans are Rupee
denominated
insurance plans.
12. Foreign Exchange Rates are subject to change from
time
to time. Any associated
expense due to change in applicable rate, at the time of premium payment, shall be
borne
by the customer.