Underwriting Playbook_V4_IBL

InstaProtect Underwriting FAQs Is it allowed to NRI/OCI/PIO? Answer: It is only allowed to Resident Indian. Is it allowed for Negative location? Answer: Yes, it is allowed. Is it allowed to Business Insurance? Answer: It can be offered to Employer Employee Scheme A, Employer Employee Scheme B & HUF. Is it allowed to Homemaker/Agriculturist profile? Answer: No Back to Index This is an internal training document created only for the sales employees of Tata AIA. This should be not used for solicitation. 51

InstaProtect Underwriting FAQs Will there be any loading applied? Answer: This is an Accept/Reject plan, loading will not be applied. What will be decision in case of Current or Previous health adversity Answer: Policy will be either Accepted/Rejected basis customer disclosure. Underwriter may ask additional information over call but documents will not be called for assessment. Adversity/Health condition disclosed Decision BMI: 20-30 Accept BMI: <20 & > 30 Deny Hyperlipidemia (High lipids) Deny Hypothyroidism Deny Hypertension Deny Diabetes Deny Any mortality impacting disorder/condition: Cancer/ Cardiovascular or Heart Deny disorders / Central Nervous System related disorders History of Appendix surgery Accept History of surgery for piles Deny History of surgery for gall stone Deny Hernia surgery Deny History of blood test for blood donation Accept Hearing loss/Deafness Deny Recovered COVID-19: Without h/o hospitalization : only quarantine/self-isolation <= 1 month Decline >1 month Accept Recovered COVID-19: With h/o hospitalization Upto 12 months Decline >12 months Accept Back to Index This is an internal training document created only for the sales employees of Tata AIA. This should be not used for solicitation. 52

Saral Jeevan Bima Underwriting Guidelines Contd. 53

Saral Jeevan Bima Underwriting Guidelines Entry Criteria: - 1) Minimum Basic Sum Assured: - INR 5,00,000 2) Maximum Basic Sum Assured: - INR 25,00,000 (Basic sum assured shall be in multiples of INR 50,000) 3) Riders Available: - ADB & ATPD 4) Minimum Basic Sum Assured for riders: - INR 1,00,000 5) Maximum Basic Sum Assured for riders: - INR 20,00,000 6) Entry age criteria: Min Age: 18 years, Max Age: 45 years 7) Maximum age at maturity: - 65 years 8) Maximum Policy Term: - 20 years 9) Age Proof: Only Standard Age Proof is acceptable for all Life to be Insured. 10) Education: Minimum qualification of SSC (Secondary School Certification or equivalent) i.e. minimum 10 regular course Contd. This is an internal training document created only for the sales employees of Tata AIA. This should be not used for solicitation. 54

Saral Jeevan Bima Underwriting Guidelines Annual Income criteria:- • Annual verified income for Salaried, Professional, Business Owner / Self- employed should be minimum INR 3.5 Lac. Drawing Salary from own business or closely held family business will not be considered under Salaried. • Annual verified income for Business owner or self-employed, the latest year business profit should be minimum INR 3.5 Lac. • Standalone Financial Surrogates documents will also be acceptable, for meeting minimum income criteria. Geographical Location: - • PAN INDIA allowed including Negative Locations • This plan is not allowed for other than Resident Indian. PSC Process: - VPSC is mandatory in all policies. WhatsApp PSC can also be done. Contd. This is an internal training document created only for the sales employees of Tata AIA. This should be not used for solicitation. 55

Saral Jeevan Bima Underwriting Guidelines Medical Underwriting: - Medical Sum At Risk Calculation to arrive at medical grid:- Base SAR of current plan (Death Benefit) + Base SAR of simultaneous applications (only Saral Jeevan Bima), if any + SAR under policies (only Saral Jeevan Bima) taken with Tata AIA Life in the last 24 months (computed from the date of issuance of policy). Medicals/Tele-medicals may be triggered basis current/previous health adversity, Adverse BMI or basis underwriter risk evaluation. Homemaker profile: - Policies will not be offered to Homemaker profile. Agriculturist Guidelines: - Policies will not be offered to Agriculturist profile. Contd. This is an internal training document created only for the sales employees of Tata AIA. This should be not used for solicitation. 56

Saral Jeevan Bima Underwriting Guidelines Financial Underwriting Guidelines Financial Underwriting is done for following reason: 1) Need for insurance cover is present. This is established if there is financial loss to the family / nominee in case of untimely death of the proposed life insured. This is termed as “Need for Insurance”. 2) Cover proposed is commensurate with the financial loss. This is essential to avoid over insurance as over insurance could lead to anti selection. This is termed as “Financial Eligibility”. Need for Insurance: Need for Insurance is established where the proposed insured is an earning through source such as employment or self-employment or carrying out business. Those who are not earning are generally do not qualify for taking insurance. Contd. This is an internal training document created only for the sales employees of Tata AIA. This should be not used for solicitation. 57

Saral Jeevan Bima Underwriting Guidelines Standard Financial Eligibility: Those who satisfy the first criteria of “Need for Insurance” will be insured subject to a maximum limit. No one can insure him / herself for unlimited amount and hence financial eligibility is required to be established for each insurable life. This eligibility is derived through a simple income multiplier factor. Maximum insurance cover (across all insurance providers) is determined as per the following table. Please note income of the life to be insured is considered to arrive at financial eligibility and not of the proposer. Following table is used to calculate the Life Insurance eligibility. Age at Entry Income Multiple 18 to 45 Years 8 Income is considered in Indian Rupees and consequently the financial eligibility is defined in Indian Rupees. Income in other currencies will be converted in Indian Rupees as per prevalent conversion factor and adjustments can be made if the economic situation warrants such correction. Financial eligibility arrived using the above factor represent the maximum amount of life insurance cover a person can obtain from all insurance providers across the world. All valid policies$ taken throughout the lifetime of the insured where death benefit is payable in case of claim are considered while arriving at the eligibility. This is referred as Financial Sum At Risk (FSAR). Financial sum at risk: Base SAR of current plan (Death Benefit) + Base SAR of simultaneous applications, if any + SAR under all policies taken with TATA AIA Life and any other company any time in the past (computed from the date of issuance of policy) (SAR of all Surrendered / Matured / CFI / Withdrawn policies are excluded) Income of the proposed insured disclosed in the application form, must commensurate with the occupation and other characteristics of the person such as age, place of work etc. Actual income must be substantiated through reasonable evidence for large amount of insurance cover. Contd. This is an internal training document created only for the sales employees of Tata AIA. This should be not used for solicitation. 58

Saral Jeevan Bima Underwriting Guidelines Financial Underwriting basis credit bureau report Life to be insured shall be required to meet all the following eligibility criteria to be eligible for financial waiver with Credit report form Experian / CIBIL / CRIF. • Minimum Education Criteria: Graduate • Minimum declared Annual income shall be INR 5 Lac for Salaried and Self – Employed. • Credit score: 650 & above is required. • Maximum Age allowed under this guideline is 45 years • Verified income from mandatory documents is to be considered even if estimated income is higher. • Lower income of Bureau to be compared with declared income & lower of these to be used for financial evaluation • Maximum Financial TSAR including the current and simultaneous plan offered will be up to INR 25 Lacs. Financial TSAR includes total sum assured across all policies of life assured with the Tata AIA and with other Life Insurance Companies. Contd. This is an internal training document created only for the sales employees of Tata AIA. This should be not used for solicitation. 59

Saral Jeevan Bima Underwriting Guidelines Financial Underwriting Requirement: Income proof is mandatory for all cases. Income proof can be submitted from below list of standard documents or surrogates. These documents will be assessed separately & will not be used to bridge the gap if other income proof is not sufficient i.e. only one of the standard or Surrogate income proof will be considered. List of Standard Income Proof: 1. Recent Appointment Letter (Not more than 3 months old) with at least 1 months’ salary slip with Provident Fund deduction. 2. Latest salary revision letter (Not more than 3 months old) with at least 1 months’ salary slip with Provident Fund deduction. 3. Last 3 months’ salary slips (With Provident Fund Deduction, average income will be considered). 4. Last 6 months Bank statements reflecting salary credit at regular periodic interval. 5. Latest Form 16 / Form 16 A 6. Income Tax Returns (ITR) along with CA certified (as applicable) Computation of income for last year Business Insurance Guidelines • HUF Cover can be taken on the life of Karta. • This Plan is not allowed under Keyperson / Keyman Insurance, Partnership Insurance, Employer - Employee Schemes. Contd. This is an internal training document created only for the sales employees of Tata AIA. This should be not used for solicitation. 60

Saral Jeevan Bima Underwriting Guidelines Financial Surrogates Type of Document Required Calculation Logic Surrogate Investment • Copies of the investment in the name of the insurance applicant as Total insurance cover = 50% x portfolio Value of Total investment. of latest/ last month only prior to insurance application date. • Investment should be in the name of LA only & Age <45 Monthly SIP • Copies of the monthly SIP for past 12 months in Annual Income = Monthly SIP x 24 x • the name of the insurance applicant as of latest/ last month only Age Banded Income multiple [8] prior to insurance application date. • Investment should be in the name of LA • Copy of the ownership document/purchase Car ownership document Annual Income = 2 times of the • The vehicle registration should be in the name of the Life Assured IDV as on date x Age Banded Income multiple [8] (with RC Book) & Copy of Car Insurance. The vehicle should be registered only for personal use and not for commercial purpose. • Should be in single name of the applicant *Only 1 car could be used • The ownership details should be found on • ‘VAHAN’ website. • Credit Card statement of recent 6 months Credit Card showing monthly credit limits Annual Income = 2X monthly Credit limits • Credit card should be in LA name only [No joint owners / No Limit x Age Banded Income multiple [8] defaults] • Only one card with highest limit to be used • Repayment statement for last 12 months along with bank Home loan statement showing debits for the same period. Annual Income = 24 x Monthly statement • Loan approval letter from the financial authority showing the EMI [ EMI x Age Banded Income multiple [8] only for recent loan procurement] • Should be in single name of the applicant (not joint holders). • Bank statement for latest 6 months for savings bank account only, Bank statement duly self-attested, signed and sealed by Relationship Manager of Annual income: Average monthly credit balance x 6 times x Age for savings the bank. Banded Income multiple [8] account held in • Bank Statement for individual’s savings account should show at individual name least 3 transactions per month with at least one regular deposit/income Example:- 1) Self-employed age 33 years with average monthly credit balance 60,000 for 6 last months want to apply for Saral Jeevan Bima. Annual income will be calculated as= 60,000*6=3,60,000 , Eligibility : 3,60,000*8= 28,80,000 2) Customer with 3L ITR wants to apply for Saral Jeevan Bima plan with 30,000 average monthly credit balance for 6 last months. In this case, customer will not be eligible for cover as none of the documents individually meet the minimum income criteria. Contd. This is an internal training document created only for the sales employees of Tata AIA. This should be not used for solicitation. 61

Saral Jeevan Bima Underwriting Guidelines COVID - 19 guidelines 1) All applicants with history of foreign travel Applications can be made after 15 days of Minimum requirement COVID19 Q, Video MER in addition to Foreign Travel other mandatory medical requirements. 2) All applicants with travel plans to Minimum requirement COVID Q, MER/ VMER and other International location/s within 3 routine requirements months of date of application 3) Vaccination guidelines Min waiting period for issuance is 7 days after any dose (prevailing residential loading will be applicable) 4) Validity of COVID -19 questionnaire COVID-19 questionnaire is valid for 30 days from date of signature or from date of MER done whichever is later Approach for Recovered from COVID -19 : Without h/o hospitalization: only quarantine/self-isolation <= 1 month Postpone >1 month to 6 months Require complete grid medicals + Chest X – Ray > 6 Months [ 18 to 45 , upto 25 L] Require complete grid medicals With h/o hospitalization <= 3 months Postpone >3 months Require complete grid medicals, Chest X Ray and Complete follow up with blood tests, imaging (CXR, HRCT Chest) etc will be required Back to Index This is an internal training document created only for the sales employees of Tata AIA. This should be not used for solicitation. 62

Rider Underwriting Guidelines Contd. 63

Rider Underwriting Guidelines Comprehensive Comprehensive Protection Rider Health Rider Life Insured Benefit Option Comprehensive Protection Rider Comprehensive Self Life ADB ATPD CPB Health Rider HCB Event Covered Event Covered Accidental Accidental Critical Hospitalization Death Disability Illness Amount & Only Lump sum NA NA NA Payout Lumpsum + Income NA NA Only Income WOP* Tax-free Annuity (Partner care) Premium ROP Refund Please Note PPT Allowed with Regular/Limited /Single Pay (can be <= base plan Rider Term subject to rider term) Can be < = base plan term subject to max maturity age (for WOP = PPT subject to max maturity age) *WOP can be taken on Proposer if policy is non self Contd. This is an internal training document created only for the sales employees of Tata AIA. This should be not used for solicitation. 64

Rider Underwriting Guidelines Options Available under the Rider Benefit Lumpsum Income Lumpsum + Waiver of Partner Option Income Premium (WOP) Care ROP ROP ADB Non ROP Non ROP ROP X ROP Non ROP X Non ROP ATPD ROP ROP X Non ROP Non ROP ROP Non ROP ROP Criticare Plus Non ROP X Non ROP Benefit ROP ROP Non ROP Non ROP Non ROP ROP X ROP Hospicare Non ROP X Non ROP ROP X Non ROP X X X X X Important Points Partner Care Waiver of Premium Benefit on ATPD / CPB ❑ Standard Age proof is ➢ Health Annexure of proposer is mandatory. required in Non-Self policy ❑ Partner Age should be within ➢ Rider guidelines applicable for 45-90 years the proposer ❑ Relationships Allowed – Parents, Siblings, Spouse, Children, Father in Law, Mother in Law Contd. This is an internal training document created only for the sales employees of Tata AIA. This should be not used for solicitation. 65

Rider Underwriting Guidelines Risk Aggregation Product Risk Aggregation With Accidental Total and Permanent All accidental disability plans (ATPD) Disability Benefit (ATPD)/ [Max Accidental Disability Benefit per WOP on ATPD life is 2Cr] Accidental Death Benefit (ADB) All accidental Death plans (ADB, ADDL) [Max Accidental Death Benefit per life CritiCare Plus Benefit (CPB)/ Inbuilt is 2Cr] CI FG+ Option 2/ WOP on CritiCare Plus All Critical Illness plans ( CPB, Inbuilt CI FG+ option 2, WOP on Criticare Plus) Hospicare Benefit [Max Critical Illness Benefit per life is 1Cr] All Hospitalisation Benefit Plans (Hospicare) [Max Hospitalisation Benefit per life is 40L] Contd. This is an internal training document created only for the sales employees of Tata AIA. This should be not used for solicitation. 66

Rider Underwriting Guidelines NML MER Grid 18-40 20L 10L 41-45 15L 10L 46-50 10L 5L 18-40 TELE MER Grid 41-45 46-50 50L 40L 20L 15L 15L 10L (Above is applicable irrespective of the base plan they are attached to) 18-40 25L 50L 41-65 25L NA ((Above grid is derived basis WOP on Criticare Plus Medical Sum at risk Contd. This is an internal training document created only for the sales employees of Tata AIA. This should be not used for solicitation. 67

Rider Underwriting Guidelines Medical Underwriting - Example Base Criticare Plus / Inbuilt CI FG+ Hospicare Medical Decision Option 2/WOP on CI NML NML NML NML NML NML Tele-Eligible Tele-Eligible NML Tele-Eligible Tele-Eligible Tele-Eligible Tele-Eligible Tele-Eligible NML Tele-Eligible Tele-Eligible Tele-Eligible NML Tele-Eligible Tele-Eligible Tele-Eligible NML Tele-Eligible Tele-Eligible Tele-Eligible Medical NML NML Tele-Eligible Medical Tele-Eligible Tele-Eligible Medical of Rider Grid Applicable Medical NML Medical of Rider Grid Applicable NML Medical Medical of Rider Grid Applicable Medical Medical of Base Grid Applicable Medical NML NML Medical of Base Grid + Rider Grid Applicable. Unique set will be shared with TPA for medicals. Medical NML If ECG- R & ECG-X both are applicable only ECG-X will be shared with TPA for medicals. Medical of Base Grid + Rider Grid Applicable. Medical NML Medical Unique set will be shared with TPA for medicals. If ECG- R & ECG-X both are applicable only ECG-X will be shared with TPA for medicals. Medical Medical Medical Medical of Base Grid + Rider Grid Applicable. Unique set will be shared with TPA for medicals. If ECG- R & ECG-X both are applicable only ECG-X will be shared with TPA for medicals. Medical + VMER NML NML Medical of Base Grid Applicable + VMER Medical + VMER Medical Medical of (Base Grid + Rider Grid Applicable) + VMER. NML Unique set will be shared with TPA for medicals. If ECG- R & ECG-X both are applicable only ECG-X will be shared with TPA for medicals. Medical + VMER NML Medical Medical of (Base Grid + Rider Grid Applicable) + VMER. Unique set will be shared with TPA for medicals. If ECG- R & ECG-X both are applicable only ECG-X will be shared with TPA for medicals Medical + VMER Medical Medical Medical of (Base Grid + Rider Grid Applicable) + VMER. Unique set will be shared with TPA for medicals. If ECG- R & ECG-X both are applicable only ECG-X will be shared with TPA for medicals Medical + VMER Tele-Medical NML Medical + VMER Medical + VMER Tele-Medical Tele-Medical Medical + VMER Medical + VMER NML Tele-Medical Medical + VMER Contd. This is an internal training document created only for the sales employees of Tata AIA. This should be not used for solicitation. 68

Rider Underwriting Guidelines Medical Grid Application Scenario 1:- Sampoorna Raksha Supreme opted by Customer of 35 years Plan Name SRS ADB ATPD Criticare Plus Hospicare Sum Assured 2Cr 2Cr 1Cr 40L 5Cr Grid Applicable NA NA ME, BPB, CBC, ECG-X Tele-Eligible ME, BPB, HBA1c, ECG-R, Cotinine +VMER Final Grid Applicable:- ME, BPB, HBA1c, ECG-X, Cotinine, CBC + VMER Scenario 2:- Sampoorna Raksha Supreme opted by salaried/graduate customer of 40 years with 12L income Plan Name SRS ADB ATPD Criticare Plus Hospicare Sum Assured 2.25Cr 1.5Cr 1.5Cr 1Cr 40L Grid Applicable VMER NA NA ME, BPB, CBC, ECG-X Tele-Eligible Final Grid Applicable :- ME, BPB, CBC, ECG-X Scenario 3:- Fortune Guarantee Plus plan opted by Customer of 50 years Plan Name FGP ADB ATPD Criticare Plus Hospicare Sum Assured 10Cr 2Cr 2Cr 15L 10L ME, BPB, CBC, HBA1c, Grid Applicable ECG-X NA NA Tele-Eligible Tele-Eligible Final Grid Applicable :- ME, BPB, CBC, HBA1c, ECG-X Scenario 4:- Value Income plan opted by Customer of 50 years Plan Name VIP ADB ATPD Criticare Plus Hospicare Sum Assured 1Cr 1Cr 1Cr 10L 5L Grid Applicable NML NA NA NML NML Final Grid Applicable :- NML Contd. This is an internal training document created only for the sales employees of Tata AIA. This should be not used for solicitation. 69

Rider Underwriting Guidelines Criticare Plus & Hospicare Contd. This is an internal training document created only for the sales employees of Tata AIA. This should be not used for solicitation. 70

Rider Underwriting Guidelines ADB & ATPD Rider Medical Grid Criticare Plus/Inbuilt CI FG+ Option 2/WOP on CI (Proposer) Medical Sum at Risk 18 to 40 Years 41 to 50 years 51 to 65 years Upto 5,00,000 MER, ECG-R, CBC, BPB 5,00,001 to 10,00,000 MER, ECG-R, CBC, BPB 10,00,001 to 15,00,000 MER, ECG-R, CBC, BPB 15,00,001 to 20,00,000 MER, ECG-Exe, CBC, MER, ECG-Exe, CBC, MER, ECG-Exe, CBC, 20,00,001 & Above BPB BPB BPB Medical Sum at Risk Hospicare All Sum Assured 18-45 Years Above 45 Years MER, ECG-R, CBC, BPB MER, ECG-Exe, CBC,BPB (Above grid is applicable above NML/Tele limits & for adverse health) Contd. This is an internal training document created only for the sales employees of Tata AIA. This should be not used for solicitation. 71

Rider Underwriting Guidelines Financial Multiplier Age Group (in years) Income Multiplier Income Multiplier 18-35 (Smart Sampoorna Raksha) (Criticare Plus/Hospicare) 36-40 25 12 41-45 20 10 46-50 15 10 51-55 12 7.5 56-65 10 5 5 5 E.g.,51 year old Customer with income 10L wants to purchase Sampoorna Raksha Supreme. Eligibility would be calculated as :- Eligibility Income Income Multiplier Coverage Eligibility Max Allowed for the plan SSR 10L 10 1Cr No Limit ADB 10L NA 1Cr 2Cr ATPD 10L NA 1Cr 2Cr Criticare Plus 10L 5 50L 1Cr Hospicare 10L 5 40L 40L E.g.,40 year old Customer with income 10L wants to purchase Value Income Plan. Eligibility would be calculated as :- Eligibility Income Income Multiplier Coverage Eligibility Max Allowed for the plan VIP 10L 10 2Cr No Limit ADB 10L NA 2Cr 2Cr ATPD 10L NA 2Cr 2Cr Criticare Plus 10L 5 1Cr 1Cr Hospicare 10L 5 1Cr 40L If Criticare Plus/ Hospicare is opted with saving plan, financial document will be required as per channel wise guideline for FSAR greater than 25L. Back to Index This is an internal training document created only for the sales employees of Tata AIA. This should be not used for solicitation. 72

Non-Term Underwriting Guidelines - IBL Contd. 73

Non-Term Underwriting Guidelines Relaxed Guidelines for November 2021 For all Non Term cases across all ages–upto Applied Sum Assured of 55 Lacs per life [except for CI, HC and Inbuilt CI rider] - will be eligible for NML Old policy Sum Assured will NOT be added to the current policy Sum Assured for this purpose No medicals/additional checks will be triggered for any adverse Health Disclosure in application form and/or issues found in IIB /other Bureau matches ❖ No change in guidelines for riders and regular NML/other limits ❖ Cases with adverse health flags would be tagged is the system for future reference. In case, medicals are already received in some pipeline cases, those cases would also be eligible for the relaxations. The guideline is applicable for all current Savings business (all business other than Term, TROP, ILP) in pipeline & fresh submissions till 30-Nov-21. Contd. This is an internal training document created only for the sales employees of Tata AIA. This should be not used for solicitation. 74

Non-Term Underwriting Guidelines Non-Medical Limit (Differentiated basis type of education, Premium to Death Benefit ratio): Group I 1. The below mentioned Non-Medical limit apply to Life Assured who is primary bank account holder. 2. For Housewives/Student and Minor Lives upto age 21yrs below guidelines will apply 3. Health Insurance and Term Plan including any variation of term plan are excluded. Age band (in years) / TRSA (in INR) Education Up to 11 times Graduates Non – Graduates (SA to death benefit ratio) 4.5 Crore 2.5 Crore Up to 45 3 Crore 1.5 Crore 46 – 60 1.5 Crore 61 – 65 75 Lac Graduates >11 – 20 times and whole life Non – Graduates (SA to death benefit ratio) 3 Crore 2 Crore 1.5 Crore Up to 45 1 Crore 1 Crore 46 – 60 50 Lac 61 – 65 Group II - Includes all other IBL bank customers not covered under group I Age Band (in years) All other IBL customers 0 – 35 1 Crore 36 – 45 50 Lac 46 – 50 30 Lac 51 – 55 20 Lac 56 – 60 10 Lac 61 – 65 10 Lac Contd. This is an internal training document created only for the sales employees of Tata AIA. This should be not used for solicitation. 75

Non-Term Underwriting Guidelines TELE MER limit Incremental Tele MER limits for those cases beyond NML limit table shared above. Age (Years) TSAR (In INR) Up to 45 Upto 6 Cr 46 – 60 Upto 4 Cr 61 – 65 Upto 1.5 Cr Tele Limit criteria • Sum assured to premium ratio: 11 times • Minimum qualification: Graduate • Minimum income: 10L • Non-Negative location i.e Pincodes as per SCC guidelines will be considered • Applicable for Main account holder only i.e Life insured should be Main a/c account holder Not applicable for housewife / student/ pensioner * = Sum of Death Benefit payable# under all current, issued, pending, simultaneous application(s)@ taken in last 24 months, on same life to be insured. The period of 24 months is calculated from the earliest application which is under process of evaluation. All issued policies where the policy commencement date of the earlier issued application falling within the 24 month criteria will be considered for risk aggregation and calculation of Medical Sum At Risk (MSAR). # Death Benefit payable = Higher of the following (as applicable to the product) 1) 10 or 11 times of Annualized Premium (excluding Taxes) as per product design. 2) 105% of All premiums paid excluding the underwriting extra premium and modal loading 3) Actual Death Benefit as defined in Terms of @Term Assurance and Health / Critical Illness applications excluded. ^ = Juvenile / Minor Lives / Student Life guidelines will be applicable as appropriate. Underwriter reserve the right to call for medical evidence for any Medical Sum At Risk based on his / her underwriting assessment based on information disclosed by the applicant and information available to him / her from other sources. Contd. This is an internal training document created only for the sales employees of Tata AIA. This should be not used for solicitation. 76

Financial Underwriting Guidelines Financial Underwriting is done for the following reasons: Need for insurance cover is present This is established if there is financial loss to the family/nominee in case of untimely death of the proposed life insured. Financial Eligibility Cover proposed is commensurate with the financial loss. This is essential to avoid over insurance as it could lead to anti selection. Affordability of Insurance Cover This is required to ensure that the policy owner is able to keep the policy in force to get the benefit for which the insurance is taken. This is termed as “Premium Payment Capacity”. Need for Insurance: Need for Insurance is established where the proposed insured is a earning through source such as employment or self employment or carrying out business. Certain individuals are engaged in regular work however are not paid for their regular duties (such as housewife / home maker) are eligible for insurance cover. However, those who are not earning are generally do not qualify for taking insurance, except insurance on their lives is purely considered as future financial planning through investment in long term insurance plan. Standard Financial Eligibility: Those who satisfy the first criteria of “Need for Insurance” will be insured subject to a maximum limit. No one can insure him / herself for unlimited amount and hence financial eligibility is required to be established for each insurable life. This eligibility is derived through a simple income multiplier factor. Maximum insurance cover (across all insurance providers) is determines as per the following table. Contd. This is an internal training document created only for the sales employees of Tata AIA. This should be not used for solicitation. 77

Non-Term U/W Guidelines Income of the life to be insured is considered to arrive at financial eligibility and not of the proposer. Following table is used to calculate the Life Insurance eligibility and different tables/rules are used to calculate the eligibility for additional benefits such as Accidental Death Benefit rider, Critical Illness rider, etc. The rider eligibility criteria are defined separately. Age at Entry (years) Income Multiplier to arrive at “Standard Financial Eligibility” 18 – 40* 25 41 – 45 20 46 – 50 15 51 – 60 10 5 > 60 & = Income multiplier for age below 20 will be based on merits of the application and wherever applicable minor lives guidelines will apply. Income is considered in Indian Rupees and consequently the financial eligibility is defined in Indian Rupees. Income in other currencies will be converted in Indian Rupees as per prevalent conversion factor and adjustments can be made if the economic situation warrants such correction. Financial eligibility arrived using the above factor represent the maximum amount of life insurance cover a person can obtain from all insurance providers across the world. All valid policies$ taken throughout the lifetime of the insured where death benefit is payable in case of claim are considered while arriving at the eligibility. This is referred as Total Sum At Risk (TSAR). $ Includes Term assurance and all life insurance policies taken from other insurance providers as well. Income of the proposed insured will be disclosed in the application form must commensurate with the occupation of the person and other characteristics of the person such as age, place of work etc. Actual income must be substantiated through reasonable evidence for large amount of insurance cover. Premium Payment Capacity: In general, we can allow 20% to 60% of total income paid towards insurance premium. Underwriters will assess the premium payment capacity to ensure the policy remain in force for a long time so that the desired profits are realized. Higher % of total income paid towards insurance premium will be evaluated by underwriters for reasons of persistency and from money laundering perspective Contd. This is an internal training document created only for the sales employees of Tata AIA. This should be not used for solicitation. 78

Non-Term Underwriting Guidelines Financial Underwriting Requirement: Following grid is applicable for individuals engaged in full time employment or established business to earn the income in order to support a certain standard of living and their income can be reasonably verified through personal meeting and verification. Total Sum At Risk in INR# Documentation / Minimum Requirement Up to 5,000,000 Fact Finder* Above 5,000,000 up to Fact Finder* + SMAR (Applicable if the life to be insured 15,000,000 has relationship of more than 6 months with IBL) OR Above 15,000,000 Income Proof ^^ ( If the relationship is less than 6 months ) Standard Income proof ^^ - Income Proof list to be referred is Proof of source of Income # = Total active Life Insurance Cover taken throughout the lifetime of an individual across the world. * = Fact Finder wherever applicable. Underwriters will call for Income Proof / Standard Income Proof from proposed insured based on the underwriting assessment. ^List of Standard Income Proof is given below. Any other evidence submitted will be considered as surrogate income proof and will be evaluated based on the merit of the evidence and the underlying risk cover. Underwriter’s discretion is final while assessment of the surrogate income proof. Contd. This is an internal training document created only for the sales employees of Tata AIA. This should be not used for solicitation. 79

Non-Term U/W Guidelines Agriculturist Following grid is applicable for individuals engaged in agriculture (similar occupation) to earn the income in order to support a certain standard of living however their income cannot be verified with reasonable means (such as standard income proof). # = Underwriters may call for Latest land records documents + Crop sale receipts or alternate proof of agricultural income based on his / her assessment. Contd. This is an internal training document created only for the sales employees of Tata AIA. This should be not used for solicitation. 80

Non-Term U/W Guidelines List of Standard Income Proof: ❖ Recent Appointment Letter (Not more than 3 months old) ❖ Latest salary revision letter (Not more than 3 months old) ❖ Last 3 months salary slips ❖ Last 6 months Bank statements reflecting salary credit at regular periodic interval ❖ Latest Form 16 / Form 16 A ❖ Income Tax Returns (ITR) along with CA certified (as applicable) ❖ CA certified / Audited Profit and Loss (P&L) account & audited Balance Sheet (for last two years). CA details need to be valid and the CA certificate should not be based on the client’s declaration. Please note, Income proof / Proof of Source of Fund is required under AML guidelines as per defined matrix. Evidence received under AML guidelines will be used for financial assessment as well. Contd. This is an internal training document created only for the sales employees of Tata AIA. This should be not used for solicitation. 81

Non-Term U/W Guidelines Financial Waiver basis Credit bureau Life to be insured shall be required to meet all of the following eligibility criteria to be eligible for financial waiver with Credit report form Experian / CIBIL / CRIF. ❑ Declared income minimum income 300,000 and above ❑ Minimum Estimated income as per credit bureau report is equal to for Salaried and Self-employed is INR 3 Lac. Estimated avg income from credit bureaus shall be taken for financial evaluation. ❑ Minimum Education Criteria: Graduate and above only ❑ Credit score: CRIF: 650 & above; EXPERIAN: 750 & above; CIBIL * Not applicable ❑ Maximum Financial TSAR including the current and simultaneous plan offered will be INR 2 Crore per life basis CIBIL income & CRIF/Experian income Calculation of HLV basis Credit bureau *For CIBIL – Credit score criteria is not applicable ^Financial TSAR includes total sum assured across all policies of life assured with the Tata AIA and with other Life Insurance Companies Contd. This is an internal training document created only for the sales employees of Tata AIA. This should be not used for solicitation. 82

Non-Term U/W Guidelines Underwriting guidelines for Juvenile / Minor and Major Student Lives Juvenile / Student lives are dependent on their parents for financial security and hence do not qualify to get insurance cover on their lives. The primary reason for buying insurance cover is to build a corpus for higher education or for certain events in life such as marriage through systematic investment. In addition, certain amount of financial loss can be attributed to parents (in case of unfortunate death of child) if they have invested a significant amount of money on their child’s education which they could have otherwise used for retirement saving. However, it is essential that the parents are adequately insured so as to secure the feature of the child. Similarly, all the siblings should be covered for equal amount to avoid any anti selection against the insurer (e.g. a child which is ill or known to have a major life threatening disease is only insured or insured for significantly large amount). ❖ NML to be applied as offered to main account holder, Main account holder defined as Grandparents, Father & mother only ❖ Maximum Student Age is capped at 25 and Maximum cover for Student is capped at INR 5 Crore (This includes insurance cover taken from all insurance companies across the world). ❖ Any cover above 5 crore to be referred facultative to Reinsurer. Total Sum At Risk in 1. Documentation / Minimum Requirement INR# 1. NIL Up to 50 Lac Equal insurance cover on parents (Combined insurance cover on father and Above 50 Lac up to 2 2. mother should be equal to the TSAR on the proposed life) Crore 3. Equal insurance cover on all siblings Current Academic Year Student Proof (Above 5 Years) / Up to date immunization 1. record (Up to age 5) Twice the insurance cover on parents (Combined insurance cover on father and Above 2 Crore 2. mother should be twice the TSAR on the proposed life). Proof of insurance will be 3. required (Policy Schedule of Parents Insurance cover) Equal insurance cover on all siblings 4. Current Academic Year Student Proof (Above 5 Years) / Up to date immunization record (Up to age 5) The cover applied should be within 50% eligibility calculated as per parents insurance eligibility using income proof # = Total active Life Insurance Cover taken throughout the lifetime of an individual across the world. * = Customer Profiler wherever applicable. Underwriters will call for Income Proof / Standard Income Proof^ from proposed insured based on the underwriting assessment. ^List of Standard Income Proof is given above. Any other evidence submitted will be considered as surrogate income proof and will be evaluated based on the merit of the evidence and the underlying risk cover. Underwriter’s discretion is final while assessment of the surrogate income proof. Contd. This is an internal training document created only for the sales employees of Tata AIA. This should be not used for solicitation. 83

Non-Term U/W Guidelines Underwriting guidelines for Female Lives: In the Indian scenario, a male member of the family is usually the bread winner (earning member) of the family. While the scenario is rapidly changing in the metro cities and urban locations, the female lives in the semi urban or rural locations are still not engaged in active employment or business. Those who are engaged in business are primarily involved in small household business activity with no valid evidence to justify the actual income generated. Category 1: Female lives that are gainfully employed equivalent to their male counter parts. All female lives employed in Government Organizations, Public / Private Limited Companies are covered under this category. Female lives who independently running their own business as well in this category. Those who are carrying out their own business are required to provide all relevant business income proof if required to establish that they are indeed involved in running the business. Refer to main Financial Underwriting Guidelines for financial eligibility calculation. Refer additional condition below as well. Category 2: Female lives that are involved in household business activity like tuitions, beauty parlor, tailoring etc. Female lives carrying out small business activity to support the household but cannot substantiate their income through valid proofs or documents are covered under this category. Category 3: Female lives who do not have any earning through employment or business. However, these female lives may have income through interest, investment, rent, capital gain, gift or any other source which is classified as unearned source. Housewives, widow, unmarried female lives are also considered under this category. No cover to be offered above 50 Lacs for category 3 and non-graduate housewives. Contd. This is an internal training document created only for the sales employees of Tata AIA. This should be not used for solicitation. 84

Non-Term U/W Guidelines Underwriting guidelines for Female Lives: All cases above 5 cr will be referred to Reinsurer Any deviation to the above guidelines will be referred to Munich Re for facultative assessment. There is a possibility of a female life that may fall in category 2 and 3. Maximum cover in such scenario will be dependent upon the income proof submitted for evaluation. Contd. This is an internal training document created only for the sales employees of Tata AIA. This should be not used for solicitation. 85

Non-Term Underwriting Guidelines Revised Medical Grid for Non-TERM Plans Medical Grid for Non - TERM Life Plans Age Band (Age Last Birthday) in years Medical Sum Up 14 - 18 - 35 36 - 45 46 50 51 - 55 56-60 Above - 60 at risk in INR to 17 ME* ME, BPB, 13 ME* ME* HBA1c, ECG-R ME, BPB, Up to ME, BPB, ME, BPB, HBA1c, ECG-R ME, BPB, HBA1c, ECG-R HBA1c, ECG-R HBA1c, ECG-R 1,000,000 ME, BPB, CBC, ME, BPB, CBC, ME, BPB, CBC, HBA1c, ECG- ME, BPB, CBC, 1,000,001 - HBA1c, ECG-R HBA1c, ECG-R Exe HBA1c, ECG- Exe 1,500,000 ME, BPB, CBC, ME, BPB, CBC, ME, BPB, CBC, HBA1c, ECG-R HBA1c, ECG-R HBA1c, ECG- ME, BPB, CBC, 1,500,001 - ME* ME, BPB, CBC, ME, BPB, CBC, Exe HBA1c, ECG- 2,000,000 HBA1c, ECG-R HBA1c, ECG- Exe 2,000,001 - JMR ME* ME* ME, BPB, CBC, Exe HBA1c, ECG- ME, BPB, CBC, 3,000,000 Exe HBA1c, ECG- ME, BPB, CBC, Exe 3,000,001 - HBA1c, ECG- ME, BPB, CBC, Exe HBA1c, ECG- 3,500,000 Exe 3,500,001 - ME, BPB, 5,000,000 HBA1c, ECG-R 5,000,001 - JMR ME, ME, BPB, ME, BPB, 10,000,000 BPB HBA1c, ECG-R HBA1c, ECG-R 10,000,001- JMR ME, ME, BPB, ME, BPB, - 20,000,000 BPB HBA1c, ECG-R HBA1c, ECG-R 20,000,001- JMR ME, ME, BPB, ME, BPB, CBC, 30,000,000 BPB HBA1c, ECG-R HBA1c, ECG-R 30,000,001 - JMR ME, ME, BPB, ME, BPB, CBC, 50,000,000 BPB HBA1c, ECG-R HBA1c, ECG- Exe 50,000,001 – JMR ME, ME, BPB, CBC, ME, BPB, CBC, ME, BPB, CBC, ME, BPB, CBC, ME, BPB, CBC, ME, BPB, CBC, 250,000,000 BPB HBA1c, ECG-R HBA1c, ECG- HBA1c, ECG- HBA1c, ECG- HBA1c, ECG- HBA1c, ECG- Exe Exe Exe Exe Exe Above JMR ME, ME, BPB, CBC, ME, BPB, CBC, ME, BPB, CBC, ME, BPB, CBC, ME, BPB, CBC, ME, BPB, CBC, 250,000,000 BPB HBA1c, ECG- HBA1c, ECG- HBA1c, ECG- HBA1c, ECG- HBA1c, ECG- HBA1c, ECG- Exe , 2 D echo, Exe , 2 D echo, Exe, 2 D echo, Exe, 2 D echo, Exe , 2 D echo, Exe , 2 D echo, USG (KUB USG (KUB USG (KUB & USG (KUB USG (KUB & USG (KUB & & Abd), Chest & Abd), Chest Abd), Chest X & Abd), Chest Abd), Chest X Abd), Chest X X ray, Anti X ray, Anti ray, Anti X ray, Anti ray, Anti ray, Anti HCV, Urine HCV, Urine HCV, Urine HCV, Urine HCV, Urine HCV, Urine microalbumin microalbumin microalbumin microalbumin microalbumin microalbumin Contd. This is an internal training document created only for the sales employees of Tata AIA. This should be not used for solicitation. 86

Non-Term U/W Guidelines AML Grid - Fortune Guarantee plus / Fortune Guarantee Pension Fortune Guarantee plus / Fortune Guarantee Pension Upto 5 Lakh 1. Proposal Form, 2. Client Confidential Report 3. KYC documents 4. Pan or Form 60 / 61 1. Proposal Form, AML 2. Client Confidential Report 3. KYC documents Above. 5 Lakhs 4. Pan or Form 60 / 61 5. Proof of Source of Funds OR 6 months Bank Statement reflecting adequate proof that the premium paid comes from a legitimate source For High Risk Customer – Please refer to Grid which is one level above than the actual grid based on premium criteria. Back to Index This is an internal training document created only for the sales employees of Tata AIA. This should be not used for solicitation. 87

FAQs Contd. 88

FAQs Example- Mr Ramchandran Das is a customer from the bank. He wishes to apply for a Term insurance plan. He wants to know the vaccination requirements from TATA AIA Life before applying for the plan: Answer: Vaccination is not mandatory. The customer can apply for a term plan with TATA AIA Life Example - Ms. Chitra has recently joined TATA AIA as a RM. In one of the bank branches, she meets a customer who wants to apply for a term plan. The customer shares that he has taken his second dose of vaccination 2 days ago. The customer wants the case to be logged in. What should Ms. Chitra do? Answer- In this situation where you know that the customer got vaccinated recently and it’s not been 15 days from the date of vaccination, hence, we will not be able to issue the term policy to the customer. In TATA AIA there is a specific underwriting guidelines if the customer has taken 1st dose, then 7 days of waiting period will be applicable from the date of vaccination whereas if the customer has taken 2nd dose, then 15 days of waiting period will be applicable from the date of vaccination Contd. This is an internal training document created only for the sales employees of Tata AIA. This should be not used for solicitation. 89

FAQs Example - Mr. Karan 66 years old and wants to apply for a term plan as he is a Silent partner is his business currently and wants to safeguard the interest of his family by booking a term plan Answer - No, he is not eligible as the maximum entry age is 65 years Example - Mr. Khanna is a Businessman (10th pass) and runs a chain of logistics in FMCG sector and files an ITR of 20 lacs every year, he has a dependent family which includes a wife and three children and he is the only bread winner in his family. Currently, he lives in Mumbai and taking care of his business and travels a lot because of business requirements. By analysing the entire scenario, how much cover will you offer him? Answer - As per the guidelines we can’t offer the plan to Mr. Khanna because the minimum qualification which is required for a term plan is 12th pass but there is an exception which can be considered here for the customer who is 10th pass and having an average ITR of 10 lacs ( last 2 years average) plus- 1. Mandatory Standard income proof required 2. Financial waiver OR any kind of Financial surrogate income shall not be accepted 3. Mandatory Medicals + VPSC required 4. The Risk Score of TALIC is within acceptable limit 5. Video PSC Mandatory/Video MER and/or PIV as per underwriter’s discretion 6. Final decision is subject to underwriting Contd. This is an internal training document created only for the sales employees of Tata AIA. This should be not used for solicitation. 90

FAQs Example - You have recently joined a bank branch and in the morning huddle Branch Manager asked about the minimum salary criteria for his employees to ensure that responsibly everyone should go for a protection solution. What will be your answer 5 lacs or 3 lacs? Answer - Here in this scenario we are not talking about the customers but we are referring to the bank staff i.e. our partner employees, so, for them the minimum annual package requirement is of 3 lacs p.a. with max cover upto 1 Cr with mandatory medicals and should be a Graduate The correct answer will be 3 lacs in this case Example - Mr. Rajesh 43 years old, HSC passed and currently he is self employed and owns a garment shop in one of the busy localities in Mumbai Being a businessman, his ITR for last two years are 2019- 9 lac, 2020- 3 lac (hit loss due to pandemic), Is he eligible to buy the term plan? Answer - Mr. Rajesh is eligible to buy a term plan as his average business profit for last two years is INR 6 Lac (9+3 lacs/2) which is more than the minimum eligibility amount i.e. INR 5 Lac. Contd. This is an internal training document created only for the sales employees of Tata AIA. This should be not used for solicitation. 91

FAQs Example - A customer who is salaried and having an annual income of 7.5 lacs and opting for a sum assured of 2.25 Cr, will he be eligible for VMER & Financial waiver? Answer - Yes, the customer is eligible for VMER & Financial Waiver/ Standard financial documents might be required, provided he fulfils the above mentioned conditions in previous Q&A Pls refer the below table for more info- Age Brand Grid Guideline 1 Guideline 2 Lower of declared/ Lower band of Income : Salaried: 7.5 L: Self Employed: 7.5 L Estimated income basis Self Employed: 10 L 18-40 Yrs VMER only + FW / Std >=1 Cr to 2.5 Cr =1 Cr Financial Document 41-45 Yrs VMER only + FW / Std >=1 Cr to 1.5 Cr NA Financial Document Medical + Grid Medicals + VMER + <>1 Cr Financial Waiver FW [ If applicable upto 1 <1 Cr All Sum Assured conditions as per Cr] / SFE 1 Cr applicable as Grid Medicals + VMER + per below Grid FW [ If applicable upto 1 <1 Cr and >1.5 Cr Cr] / SFE Above 45 yrs to 55 yrs Grid Medicals + VMER + FW [ If applicable upto 1 Cr] / SFE Above 55 years No Financial Waiver Contd. This is an internal training document created only for the sales employees of Tata AIA. This should be not used for solicitation. 92

FAQs Example - Mr. Raghav, aged 62 years is done with VPSC while applying for the term plan, is it mandatory to go for physical medicals & Video MER? Answer - Yes, as the customer’s is 62 years old, refer the guideline for Age: 61-65 Years:- • VMER mandatory + Medical. • Whole life cover not allowed. • For SA > 1Cr, Policy Term will be allowed as per Reinsurer decision. • Standard Financials mandatory. Financial surrogates not allowed Contd. This is an internal training document created only for the sales employees of Tata AIA. This should be not used for solicitation. 93

FAQs Example - Mrs. Asha Prasad is a homemaker and a wife of a successful businessman Mr. Kamal Prasad, who is into retail chain of FMCG products and wants to apply for a term policy to have a secure future. Mr. Prasad also wanted to cover his wife in the same policy. As a CAM or Insurance specialist what will you suggest in such scenario Answer - As an Insurance specialist you must make you customer aware about the homemaker guidelines- • Homemaker should be graduate or above • PSC will be mandatory • 50% of husband’s Term Cover* OR INR 50 Lac whichever is lower [*With TALIC/any other with life insurance company/ies] • Husband’s Cover - May or may not be from TALIC. If husband’s term cover is not from TALIC, a copy of the policy schedule with Sum Assured and Terms of Acceptance to be attached [policy to be less than 5 years old] • Only Life Option is available (Sampoorna Raksha Supreme) • Case will be fully underwritten Medically Example - If husband is covered for INR 1 Crore with TALIC and intends to take a INR 50 Lac cover on his wife with TALIC, he needs to be eligible for INR 1.5 Crore basis his earned income. Standard Financial documents of the husband will be required. Contd. This is an internal training document created only for the sales employees of Tata AIA. This should be not used for solicitation. 94

FAQs Example - Mr. Ram is an agriculturist, earns well up to INR 12 Lac through agriculture in his 10 acres of land. If he wishes to go for a term plan, what is the amount of Sum Assured Capped at and other documents required? Answer - If the customer is an Agriculturist the following conditions need to be taken of- • Minimum Income Criteria - Being self-employed, INR 10 Lac will be applicable • Education - Graduate • Verified Income - ITRs and Form J* will be considered for Min. Income Criteria • Land ownership papers, mandi receipts in LAs name to be submitted • Sum Assured - Capped at INR 50,00,000 based on eligibility • Medical mandatory Example - Mr. Ravi is 33 years old and self employed in a cloth manufacturing business with 4.40 lacs of income (ITR) wishes to apply for a term plan, is there any provision where the customer can apply for the same with 1 Cr term cover as his annual income is not 5 lacs which is a basic eligibility? Answer - Yes, now we can add surrogates with the plan to bridge the financial gap to reach the eligibility. So ,in this case using surrogate income, 20% income can be bridged (88,000) , new Income: 4,40,000 + 88,000 = 5,28,000 as the required eligibility for Term plan is 5,00,000 by using surrogates customer is eligible for the term plan now Financial Eligibility: 5,28,000 x 25 = 1,32,00,000 Contd. This is an internal training document created only for the sales employees of Tata AIA. This should be not used for solicitation. 95

FAQs Example - Mr. Rakesh Sharma (30 years old) is your customer and earns 5 lacs of annual income and wants to apply for the term plan, while having a discussion with the customer, what Sum Assured will you suggest him an how will you calculate? Answer - The Sum assured/Life cover is calculated basis the multiplier factor as per the age of the customer, Rakesh Sharma is 30 years old therefore as the standard financial eligibility table the multiplier is 25 times Sum Assured=25*5 lacs= 1.25 Cr Refer the table below fir the multiplier at different ages- Age at Entry (years) Max Income Multiple* 18 – 35 25 36 – 40 20 41 – 45 15 46 – 50 12 51 – 55 10 56 - 65 5 Contd. This is an internal training document created only for the sales employees of Tata AIA. This should be not used for solicitation. 96

FAQs Example - Mr. Jacob Jose is an NRI and presently in India to visit his family, he wants to book SRS plan with TATA AIA Life but his passport renewal is under process, what will you consider as a age proof document in this case? Answer - When our customer is an NRI/OCI/PIO, in such cases the only standard age proof which can be considered is a PASSPORT and no other document will be applicable as passport is a mandatory document. In the above-mentioned case study, the passport is not available therefore you will have to wait for the renewal of the same Contd. This is an internal training document created only for the sales employees of Tata AIA. This should be not used for solicitation. 97

FAQs Example - An RM has joined the bank recently and wants to understand list of documents that is acceptable as an income proof in TATA AIA. You as a RM need to illustrate the same Answer - The list of documents acceptable as an income proof are as follows- • Answer Recent Appointment Letter (Not more than 3 months old) with at least 1 months’ salary slip with Provident Fund deduction • Latest salary revision letter (Not more than 3 months old) with at least 1 months’ salary slip with Provident Fund deduction • Last 3 months’ salary slips (With Provident Fund Deduction, average income will be considered) • Last 6 months Bank statements reflecting salary credit at regular periodic interval • Latest Form 16/Form 16 A • Income Tax Returns (ITR) along with CA certified (as applicable) Computation of income for last three years – Average Income of 2 years will be considered for computing eligibility • CA certified/Audited Profit and Loss (P&L) account & audited Balance Sheet for last 2 years. (average income will be considered Contd. This is an internal training document created only for the sales employees of Tata AIA. This should be not used for solicitation. 98

FAQs Example - Mr. X who is an NRI walks into the bank branch to inquire about our SRS term plan and understand the basic eligibility criteria wrt to income to apply for the same. As a CAM, pls specify the conditions- Answer - If the customer is an NRI, the minimum annual verified income for Salaried, Professional, Business Owner or self-employed should be minimum 10 lac Example - Mr. C is a PIO and wishes to apply for a term cover of 2 Cr and wants to know about the documents to be submitted while processing the same as he is planning to travel back in the next week. Pls specify the mandatory documents Answer - If the TSAR is above 1 Cr which is 2 Cr in this scenario then copy of all pages of passport with entry and exit details+ travel questionnaire is required Contd. This is an internal training document created only for the sales employees of Tata AIA. This should be not used for solicitation. 99

FAQs Example - Mr. Ramanujam who is 40 years old is a PIO from Singapore and decides to purchase TATA AIA SRS plan with 2 Cr Sum Assured Limited 5 pay with a policy term of 40 years. Is he eligible for the term plan? If yes, pls specify, also, Is Video MER mandatory in this case? Answer - Yes, he is eligible for the term plan as the entry age for PIO/NRI/OCI is 18 to 60 years. Also, Singapore is a part of Set A countries and we can offer a Sum Assured upto 5 Cr Set A Countries: [Singapore, Hong Kong, China, UAE, Oman, Qatar, Saudi Arabia, Sri Lanka, Maldives, New Zealand, & Australia, Papua New Guinea, Fiji, Brunei, Thailand, Taiwan, Vietnam, Mauritius, South Korea, Bahrain, Kuwait] can be accepted upto 5 Cr, for higher Sum assured final decision subject to reinsurer approval Video MER is mandatory in all the cases of NRI/PIO/OCI Contd. This is an internal training document created only for the sales employees of Tata AIA. This should be not used for solicitation. 100