What is the paid up value of my plan? | Value Research Tata AIA Assure Golden Years is a traditional policy which is silent on its expenses
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What is the paid up value of my plan?

Tata AIA Assure Golden Years is a traditional policy which is silent on its expenses

I have bought TATA AIA Assure Golden Years policy in my wife's name in 2005 and continued for 10 years. Now, I want to discontinue the policy. What will be the paid up value of the policy? Policy term is 30 years and premium is ₹6,000.
- Manas Bhaumik

Tata AIA Assure Golden Years is a traditional policy which is silent on its expenses. The policy will earn bonus, depending on the company's performance. It will also pay Guaranteed Addition of 10% of the Sum Assured in the event of death or on maturity if the policy has been in force for 10 years. This amount will be added to the maturity amount at the end of the term.

As you have already completed three policy years, you can stop paying premiums and your policy will be converted into paid up policy depending on the premiums paid by you. We can't calculate the exact amount due to absence of any details on expenses under this policy.

If you surrender the policy, you will receive a guaranteed surrender value equal to 30% of the total amount of premiums of the basic policy paid, excluding the first year premium of the basic policy, and all extra premiums of the basic policy, if any. The insurer may pay a higher sum at its own discretion.

You need to contact insurer and ask for the amount you will receive under both circumstances and then take a call on whether to convert it into a paid up policy or surrender it.


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