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    Partial Withdrawal Form

    Uploaded by

    Pinkys Venkat
    This document is a policy servicing payout request form from Tata AIA Life Insurance Company. It provides options for policyholders to request free look cancellation, surrender, or partial withdrawal of their policy. It outlines the process and requirements for each type of request, including submitting original documents and photo ID. Policyholders must provide payment details like bank account information for payouts to be deposited via NEFT transfer. The document collects signatures and declarations from the policyholder and witnesses to authorize and process the request.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Partial Withdrawal Form

    Uploaded by

    Pinkys Venkat
    743 views2 pages
    This document is a policy servicing payout request form from Tata AIA Life Insurance Company. It provides options for policyholders to request free look cancellation, surrender, or partial withdrawal of their policy. It outlines the process and requirements for each type of request, including submitting original documents and photo ID. Policyholders must provide payment details like bank account information for payouts to be deposited via NEFT transfer. The document collects signatures and declarations from the policyholder and witnesses to authorize and process the request.

    Original Description:

    TATA AIA

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    This document is a policy servicing payout request form from Tata AIA Life Insurance Company. It provides options for policyholders to request free look cancellation, surrender, or partial withdrawal of their policy. It outlines the process and requirements for each type of request, including submitting original documents and photo ID. Policyholders must provide payment details like bank account information for payouts to be deposited via NEFT transfer. The document collects signatures and declarations from the policyholder and witnesses to authorize and process the request.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    743 views2 pages

    Partial Withdrawal Form

    Uploaded by

    Pinkys Venkat
    This document is a policy servicing payout request form from Tata AIA Life Insurance Company. It provides options for policyholders to request free look cancellation, surrender, or partial withdrawal of their policy. It outlines the process and requirements for each type of request, including submitting original documents and photo ID. Policyholders must provide payment details like bank account information for payouts to be deposited via NEFT transfer. The document collects signatures and declarations from the policyholder and witnesses to authorize and process the request.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
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    C M Y K

    IN LINKED POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER

    POLICY SERVICING PAYOUT REQUEST FORM


    PLEASE CONSIDER THE BELOW FACTS BEFORE YOU SIGN THIS
    FORM.
    Low Charges: In Unit lined products the charges come down
    significantly after 3rd year resulting in more of your premium
    being allocated towards your funds. ULIP thus help you
    achieve long term goals.
    Life Cover: Once the policy is surrendered the life cover
    ceases and you may not get cover when you actually need it
    the most.

    High Growth Potential: Unit linked products may be linked to


    stock market and your investments grows at a fast pace as
    compared to many other investments.
    Pay Premium regularly: Premium paying has now become
    easy with the variety of premium payment options,. Log on to
    www.tataaia.com for the payment avenue of your choice.

    Policy Number :
    Name of Policyholder:_________________________________

    Landline / Mobile No.________________________________________

    Email Address: _________________________________


    Correspondence Address: _______________________________________________________________________________________________________

    1) FREELOOK (UNIT LINKED & TRADITIONAL PRODUCTS)


    I the Owner of the policy would like to cancel the policy which I have received on ____________________ within free look period due to ________________________________
    _________________ ___________________________________________________________.
    I understand and agree that the cancellation would be subject to the free look cancellation policy provisions of the mentioned policy contract. Documents Required (Please tick
    appropriately):

    Original Policy Document

    Reason for non submission of Policy Document________________________

    2) SURRENDER (Policyholder is required to submit and sign in person at the branch)


    Reason for Surrender - __________________________________________________________________________________________.
    UNIT LINKED PRODUCT
    Fund Value as on ___/_____/_____

    :-

    Rs _______________________.

    Less: - Surrender Charge

    :-

    Rs _______________________.

    Approximate Surrender Value

    :-

    Rs _______________________.

    Note: - Please read the instructions before signing the form.


    1.

    The actual surrender value may differ from that mentioned above as the surrender value depends on NAV as on the date the policy is surrendered.

    2.

    The Surrender Value payable = (The number of units in the Regular / Single Premium Account multiplied by the applicable NAV of that fund, reduced by the surrender
    charges as applicable) + (The number of units in the Top-up Account, if any, multiplied by the applicable NAV of that fund, reduced by the surrender charges if any).

    NON UNITLINKED PRODUCT


    I Agree to accept the surrender value amount of Rs ______________* (Which is subject to change in the event of any loan or automatic premium loan being outstanding).
    *Please note that any further automatic premium loan /Policy loan and interest applied subsequent to the above date will be deducted from the disbursement amount. The
    surrender amount paid out can be lesser than the amount mentioned above if there is outstanding loan amount on the policy
    Documents Required (Unit linked & Traditional Product) :

    Original Policy Document

    Photo Identity Proof

    Address Proof

    3) PARTIAL WITHDRAWAL
    Reason for Partial Withdrawal ______________________________________________________________________________________________________________
    FUND NAME

    Documents Required:

    Self attested copy of Policy Information Page

    Partial Withdrawal (Units)

    Photo Identity Proof

    Address Proof

    PRAF033 NL

    Note: - Please read the instructions before signing the form.


    1. The actual partial withdrawal value may differ from that mentioned above as the partial withdrawal value depends on NAV as on the date the request is received.
    2. Partial Withdrawal will first be affected from the Top-up Account and the balance (if any) will be affected from the Regular / Single Premium Account subject to lock in period
    mentioned in your policy document.
    3. Partial Withdrawal will be allowed only if the insured has attained the age of 18 years or above and subject to other policy provisions.
    4. The applicable withdrawal charge, after the Partial Withdrawal, would be deducted from the balance Fund Value.
    5. The Net Amount payable = (The number of units to be withdrawn from the Regular / Single Premium Account multiplied by the applicable NAV of that fund, reduced by
    partial withdrawal charges if any on gross partial withdrawal units of regular premium account) + (The number of units to be withdrawn from the Top-up Account, if any,
    multiplied by the applicable NAV of that fund, reduced by partial withdrawal charges if any on gross partial withdrawal units of top up account.)
    As per IRDA regulation the NAV in respect of allocation and redemption of units for requests received on or before 3.00 pm (Indian Standard Time) by the company the
    closing NAV of the same working day will be applicable. If the request is received on Saturday, Sunday, Public Holiday or after 3.00 pm, NAV of the next day will be
    applicable.

    C M Y K

    C M Y K
    POLICY NO.:

    4) PAYMENT DETAILS (MANDATORY)


    National Electronic Fund Transfer (NEFT)
    Name of Bank Account Holder _____________________________________________. Bank Account No ________________________________________________
    Full Name of the Bank ____________________________________________________. Branch Name ___________________________________________________
    Account Type: Current

    Savings

    NRO

    NRE

    IFSC Code

    (For NRE account refund cheque with NRE letter will be processed)
    (Please refer to your cheque book)

    MICR CODE

    Original personalised cancelled cheque is mandatory along with this NEFT details. If personalized cheque is not available attach bank statement. Please note that NEFT in NRE
    account is not possible.
    Bank attestation is necessary in case original cancelled cheque is not attached.

    CERTIFICATION/ATTESTATION BY ACCOUNT HOLDERS BANK:- (Bank Use Only)


    We hereby certify that the particulars furnished above are correct as per our records this account is currently operational. We hereby confirm that the below signature(s) are as per
    our records.
    Bank Branch

    Bank Authorized Signatory with Date

    Bank Stamp

    Declaration
    I/We authorize Tata AIA Life Insurance Company to Credit the following bank account for crediting the payouts. I/we understand that the information provided by me/us may be shared with
    third parties for compliance with any legal or regulatory requirements. I/We hereby declare that the particulars given above are correct and complete. If the transaction is delayed or not
    effected at all for the reasons of incomplete or incorrect information provided above then the user institution i.e Tata AIA Life Insurance Company would not be held responsible. I/We shall
    intimate Tata AIA Life about any change in the above details as and when the change occurs.

    DECLARATION AND AUTHORISATION


    I understand that on Surrender / Freelook Cancellation of the policy, the policy stands cancelled and terminated and that such a payment will be full and final settlement of the claim under
    the policy and the Company will stand discharged of all its further liabilities.
    I/We understand and agree that, the said request shall be treated as valid on acceptance by the company with proper branch, date and time stamp.

    All Surrender requests to be submitted in person by the Policyholder along with the requirements mentioned under Section 2.
    Surrender requests received through any other mode are liable to be rejected.

    Signature of Insured
    D

    M M Y

    Signature of Policyholder/Assignee/Trustee (if other than insured)


    D

    M M Y

    Signature of Witness
    D

    M M Y

    Name of Witness: - _________________________________________________________


    Address: - _________________________________________________________________
    Mobile No.:- _______________________________________________________________

    Place: - ____________________

    DECLARATION IN CASE THE LIFE INSURED / POLICYHOLDER IS ILLITERATE OR SIGNING IN VERNACULAR:


    I________________________________________________ (name) with _________________ (identify type) _________________________ (identity number) hereby declare that I have
    explained the contents of the Request for Change Form to the Life Insured / Policyholder in _______________________ language and that the Life Insured / Policyholder has signed / affixed
    his/her thump impression on the Request for Change Form after fully understanding the contents thereof.

    Signature of Witness _________________________

    Life Insured/Policyholder Signature/ thumb impression here _________________________

    NOTE:
    1. All signatures must be in blue ink. Names should be written as they appear in our record.
    2. For each signatory, there should be a witness with the Signature. The witness has to be 21 years old and above, who is not the beneficiary of this policy.

    For Office Use


    Request submitted by

    Policyholder

    Agent

    Courier

    Third Party (Pls. specify if not by Policyholder) ___________________________________________

    Called by (Employee Name) ____________________ Employee Code ______________ Called No. __________________ Date _________ Time____ Office Code
    Reason for Surrender _____________________________________________________________

    Branch Receive Date & Time Stamp


    CUSTOMER ACKNOWLEDGEMENT COPY
    Surrender

    Partial Withdrawal

    Freelook Cancellation

    TE
    , DA
    NCH TAMP
    A
    R
    B
    S
    ME
    & TI

    Version 3.4 NL

    POLICY NO

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


    Registered & Corporate Office: 14th Floor, Tower A, Peninsula Business Park, Senapati Bapat Marg, Lower Parel, Mumbai - 400013 For complete details please contact our Insurance advisor or
    visit Tata AIA Lifes nearest branch office or call 1-800-267-9966 (toll free) and 1-860-266-9966 (local charges apply) or write to us at customercare@tataaia.com.
    Visit us at: www.tataaia.com or SMS 'LIFE to 58888. Insurance is the subject matter of the solicitation

    C M Y K

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