PRODUCT SCORECARD

Tata AIG Life Raksha

No Star
i-save Insurance Rating as on 31st January, 2011

Insurance Type: Term Insurance Plan

Product Rating: Low Rating

Price Rating: Below Average

Features Rating: Low Rating

Service Rating: Good

Insurer: Tata AIG Life Insurance Company Ltd.

IRDA Registration Number: 110
The information and analysis provided in this i-save Insurance Rating Scorecard (“Insurance Scorecard”) is provided by MAGI Research and Consultants Private
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and peer group based on the parameters taken into consideration in its model. The ratings are not assigned to contract terms and policies and do not address
any parameter other than those specifically mentioned, including but not limited to, an insurer’s underwriting or claims payment policies or procedures; the
ability of an insurer to dispute or deny claims payment on any grounds; or any specific contractual terms borne by the policy holder or contract holder. The
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Tata AIG Life Raksha
Rating: No Star
Price Rank: Below Average
Features Rank: Low Rating
Service Rank: Good

1. Premium & Price Performance

….. select data points illustrated – Age 25, 35, 45 Terms to Age 60 years (Rs.)
Premiums for 25 year old Male Premiums for 35 year old Male Premiums for 45 year old Male
Term SA SA SA SA SA SA SA SA SA SA SA SA
10Lacs 25Lacs 50Lacs 1Crore 10Lacs 25Lacs 50Lacs 1Crore 10Lacs 25Lacs 50Lacs 1Crore
10 NA 5129 10258 20516 2835 7087 14174 28347 5780 14449 28899 57797
years
15 NA 5405 10809 21619 3144 7859 15718 31436 6684 16710 33421 66842
years
20 2294 5736 11471 22942 3552 8879 17758 35539 NA NA NA NA
years
25 2438 6094 12188 24376 3905 9762 19523 39046 NA NA NA NA
years
30 NA NA NA NA NA NA NA NA NA NA NA NA
years

Price Score: 26.00

Relative Rating: Below Average
Note: The premium / price information in this Scorecard is illustrative. For further details, refer to the detailed analysis online at
i-save.com.

2. Features: Availability, Benefits and Exclusions

Maximum Age to Maturity :60 Years Minimum Age at Entry :18 Years
Minimum Sum Assured :Rs 10,00,000 Maximum Age at Entry :50 Years
Maximum Sum Assured :No Limit Premium Options :Cheque, Credit
Card, Direct Debit,
ECS
Maximum Term :25 Years Premium Frequency :Yearly, Half Yearly,
Quarterly, Monthly

Features Score: 54.00

Relative Rating: Low Rating

Summary of Product Key Features:

Minimum Premium :No Information
Preferential Rates :No Preferential Rates for non-tobacco user
Death Benefit :Sum Assured
Maturity Benefit :No
Surrender Benefit :No
Riders Available :No Information
Exclusions :Suicide within one year
Freelook Period :15 days
Tax Benefits :Tax benefits under the policy are available subject to conditions applicable under Section 80C of the
Income Tax Act, 1961
Note: Policy Terms and Conditions are issued after acceptance of Proposal by the Insurer. You must read these carefully to
ensure you are aware of the terms and conditions, policyholder and insurer’s obligations for issuance, continuance, exclusions
and payment of benefits.
 3. Service Scores

Claims Paid Ratio :72.23%

Complaints Ratio :0.0048%
Outstanding Complaints Ratio :14.50%

Service Scores: 78.00

Relative Rating: Good
Note: The Services Scores are based on Insurer’s public disclosures and published by IRDA and are a weighted average of 2007-
08 and 2008-09 data. The Service Scores are not specific to a product category as public disclosures by Insurance companies are
limited to aggregate data at a company level. Relevant extracts have been used in our methodology to assess service standards
impacting the policyholder.

4. Product Scores

Weighted component scores add to an Aggregate score

Pricing Scores Features Scores Service Scores Product Scores

Weighted + Weighted + Weighted = Weighted
50% 35% 15% 100%

26.00 54.00 78.00 43.00

Relative Ranking:

The i-save rating methodology plots all component and aggregate product scores on a bell curve to obtain a relative ranking of
the product. The relative ranking awards a 1-5 star rating based on the relative position on the bell curve.

No Star Low Rating

Below Average
Average
Good
Excellent
Superior
<10th 10-25th 25-45th 45-65th 65-85th >85th
Percentile position of product

For details on our ranking methodology visit i-save.com/rating/rating.aspx

Factsheet:
Company Tata AIG Life Insurance Company Ltd.
Website http://www.tata-aig-life.com
How to Read the Term Insurance Product Scorecard
i-save Rating: Product, Price, Features and Service
The i-save Rating is a 1 to 5 star rating that takes a relative ranking across all products in the category.
Product Rating: The i-save term insurance product star rating is a 1 to 5 star rating that is based on the products aggregate scores
encompassing price, features and service scores.
Price Rating: A 5-star ranking of the product based on premiums charged to customers at various modal combinations of Age, Term
and Sum Assured.
Features Rating: A 5-star ranking of the product based on select features used for competitive benchmarking.
Services Rating: A 5-star ranking of the product based on company level data on select service parameters, using regulatory
disclosure data.

Premium & Price

Only select data for
illustration purposes
shown due to the size of
data involved.
Premium Score is a
Features weighted score for
Availability, Benefits and premiums across
Exclusions combinations of Age,
Features score is a Sum Assured and
weighted score based Term of Policy
on availability of Higher Terms are
product at various allocated a higher
combinations of age, weightage
sum assured and term, Lowest Premium
benefits and flexibility carried the Highest
offered by customers score
The rating model Relative Rating is
allocates weights and based on a 5-star
scores for individual ranking of price scores
Features and Benefits across all term
Products available to insurance products
wider range of
customers needs – Age,
Term, Sum Assured,
Riders etc will have
higher scores
Relative rating is based
on a 5-star ranking of
features scores across
all term insurance
products

Summary of Product Key Features

Provides a summary of key eligibility, features and benefits as provided by the company in its product documentation
Minimum Premium: Minimum premium below which company will not accept a proposal
Preferential Rates: Whether any preferential rates are offered to a particular class of customer, for example to non-tobacco users,
males or females
Underwriting: Specifies whether medical underwriting or tests are required for the Product. Each company has separate medical
limits for Age and Sum Assured combinations which result in different underwriting requirements. These should be confirmed before
applying for a policy
Death Benefit: Specifies the nature of payment on death of life assured
Maturity Benefit: Specifies the nature, if any, of payment on the maturity of the policy
Surrender Benefit: Specifies the benefit payable by the company, if any, on the surrender of the policy
Riders available: Specifies the types of Riders available for the customer to attach to the main policy Riders offer an additional risk
cover at an extra premium
Exclusions: Whether the policy has any specific exclusions from payment of benefits
Freelook period: Regulations provide for a freelook period during which policyholder may review detailed terms and conditions and
has the option to return the policy for refund in the event policy terms are not acceptable to the customer
Tax Benefits: Product eligibility for tax benefits as mentioned in its key features document issued by the Company
 Service
Extracts from company disclosures for past 2 years have been considered. Service scores are not available for
individual products
Service Score is a score for service related data
Higher weightage has been given to most recent data
Relative Rating is based on a 5-star ranking of service scores across all companies offering term insurance
products

Product Scores
Product Scores are the
weighted aggregate of
the Price, Features and
Service Scores
For Term Insurance
highest weightage has
been provided to Price
Scores, followed by
Features and Service
Scores

Relative Ranking
All scores – Price, Features, Service and Product are ranked relative to all other products in the
category. The scores are ranked on a percentile basis and allocated star ratings based on the
relative percentile position on the curve.
The star ratings are given a ranking descriptor ranging from Low Rating to Excellent as an
indication of the relative competitiveness of the product, price, features and service scores.