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Tata AIA Life Insurance is one of the most renowned insurance companies in the Indian Private Sector. This insurer offers various life insurance policies to protect you and your family. The plans offered by TATA AIA Life Insurance company ensure that the future of your loved ones is secured against life's uncertainties. In this article, let’s explore Tata AIA Life Insurance more, including its benefits and available plans.
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Tata AIA Life Insurance Company Limited (Tata AIA Life), a leading life insurance company in India, is a joint venture company formed by Tata Sons Pvt. Ltd. and AIA Group Ltd. (AIA). This insurer offers various insurance products such as life, savings, wealth, protection, and retirement to help individuals and families protect their financial future in the event of life's uncertainties. You can check the premiums of Tata AIA life insurance plans online. Tata AIA Claim Settlement Ratio (CSR) is 99.13% for the FY 2023-24 and it is one of India’s most trusted insurers.
| Key Highlights | Details |
| Total Branches | 500+ |
| Solvency Ratio | 1.83 |
| Claim Settlement Ratio (CSR) | 99.13% (FY23-24) |
| Assets Under Management | 1 Lakh Crore+ |
| Families protected till now | 77 Lakh+ |
| Presence across India | 400+ Branches |
| Claim Settlement Duration | 4 hours Express Claim Settlement |
You should buy Tata AIA Life Insurance plan because of the following reasons:
Financial Security for Your Loved Ones: Tata AIA Life Insurance plans are designed to provide financial security and peace of mind to your loved ones in case of an unfortunate event. The payout from the life insurance plans can help your family maintain their lifestyle, cover essential expenses, and even achieve long-term financial goals like education and retirement.
Health Management Services: Tata AIA life insurance offers health management services of upto 31K for policyholders, which allows them to receive telemedical consultations, basic health check-ups, and comprehensive health check-ups for free.
Comprehensive Coverage Options: Tata AIA offers a wide range of insurance products tailored to suit various life stages and needs. Whether you're looking for pure protection with term insurance, wealth creation through investment-linked plans, or comprehensive coverage with a whole-life policy, Tata AIA has you covered. Their diverse portfolio ensures you can find a plan that aligns perfectly with your financial goals and requirements.
Guaranteed Returns: Tata AIA Life Insurance, particularly Savings and retirement plans, ensure you receive guaranteed returns when your plan matures. As you pay your premiums over time, your savings grow. Upon maturity, you can choose to receive this accumulated amount either as a one-time lump sum or as a regular income.
Affordable Premiums: Tata AIA Life Insurance offers comprehensive plans, like term insurance plan, at very affordable premiums, so that you can financially secure your loved ones without any hassle.
Tax Benefits: Opting for Tata AIA Life Insurance plans can also provide you with tax benefits under Section 80C and Section 10(10D) of the Income Tax Act, 1961. This means you can secure your financial future and enjoy tax advantages while doing so, making Tata AIA a smart choice for your insurance needs.
4 Hours Express Claim Settlement: With ‘Express Claims’, Tata AIA Life Insurance provides claim settlement to the nominees of the deceased policyholders within 4 hours of claim intimation.
Tata AIA life insurance offers its Health Management Services that allows policyholders to claim health management services of upto 31,750 for individuals over the sum assured of 1.5 Crores.
Term Plans
The various life insurance policies in multiple segments offered by Tata AIA Life Insurance are as follows:
Term Insurance Plans
Term + Wealth Plans
Savings Plans
ULIP Plans
Retirement Plans
| Tata AIA Life Insurance - Term Plans | Entry Age | Maturity Age | Sum Assured | |
| Tata AIA Sampoorna Raksha Promise | 18 - 65 years | 100 years | Rs. 25 Lakhs - No Limit | |
| Tata AIA Sampoorna Raksha Supreme | 18 - 60 years | 100 years | Rs. 5 Lakhs - 20 Crores | |
| Tata AIA InstaProtect | 18 - 45 years | 75 years | Rs. 25 Lakhs - 1 Crore | |
| Tata AIA SRS Vitality Protect | 18 - 60 years | 85 years | Rs. 50 Lakhs - 2 Crores | |
| Tata AIA Maha Raksha Supreme | 18 - 60 years | 85 years | Rs. 2 Crores - 20 Crores | |
| Tata AIA Smart Sampoorna Raksha | 18 - 60 years | 100 years | 10 times of Annualised Premium | |
| Tata AIA Saral Jeevan Bima | 18 - 65 years | 70 years | Rs. 5 Lakhs - 49.5 Lakhs |
Let’s learn more about Tata AIA Term Plans in detail:
Choose from 4 plan options
Receive 50% of the base sum assured on diagnosis of terminal illness
Cover your spouse within the same plan
Upto 15% discounts on premiums for female customers
Get instant payout on claim intimation
Terminal illness benefit is offered as an in-built benefit
Benefits of Tata AIA Sampoorna Raksha Supreme are:
Choose from various Death Benefit options:
Life Option
Life Plus Option
Life Income
Credit Protect
Choose Whole Life coverage (up to age 100)
Add to your Sum Assured through top-ups
Receive 50% of the Basic Sum Assured in case of a Terminal illness diagnosis with the inbuilt Payor Accelerator benefit
Get Income payouts starting at age 55, 60, or 65 for a secure future
Access medical second opinions, medical consultations, and personal medical case management
Customize your Policy Term and Premium Paying Term to your needs
Enjoy lower premium rates for females
Tax benefits under applicable sections of ITA, 1961.
Benefits of Tata AIA InstaProtect are:
Quick and easy health and life coverage, no medical exams required
Protection against 40 critical illnesses and hospitalization expenses
Additional coverage options like Hospitalization and Accidental Death Benefit, 3C Protection (Cancer, Cardiac, Critical Illnesses), and Terminal Illness benefit
Tax benefits in accordance with applicable income tax regulations.
Benefits of Tata AIA SRS Vitality Protect are:
Provides life insurance for your family's financial security in case of terminal illness or death.
Get up to a 15% renewal discount on premiums through Tata AIA Vitality Health and Wellness Status.
Enjoy a free annual health test with your life insurance through the Tata AIA Vitality Program.
Increase your life cover by up to 15% based on your wellness status after the premium payment term.
The wellness program offers a guaranteed 5% discount on your first-year premium payment for the plan.
Benefits of Tata AIA Maha Raksha Supreme are:
Life coverage is available up to age 85 or Whole Life coverage (up to age 100).
Included Payout Accelerator Benefit advances 50% of Basic Sum Assured in case of Terminal Illness diagnosis.
With the Life Stage Plus Option, you can easily increase coverage at significant life events without the need for new medical underwriting.
Enhance protection with available Riders.
Females enjoy discounted rates, while non-smokers receive standard premiums.
Eligible for tax benefits in accordance with applicable tax laws.
Benefits of Tata AIA Saral Jeevan Bima are:
Affordable pure protection plan for women.
Lower premium rates for female policyholders, subject to policy terms.
Eligible for tax benefits on premiums paid and nominee's claim under income tax laws.
Optional riders are available to increase coverage for unforeseen events.
Opt for higher coverage at lower premiums when purchasing at a younger age.
Flexible policy term and premium paying term options.
Benefits of Tata AIA Smart Sampoorna Raksha are:
Provides a death benefit to safeguard your life goals if you pass away during the policy term.
This plan offers both unit-linked and non-participating options.
Choose from 11 funds based on your risk preference, spanning fixed income to equity-oriented.
Enjoy refunds of twice the mortality charges starting in the 11th year and premium allocation charges in the 10th, 11th, and 12th years.
Flexible premium payment options of 5, 10, or 12 years.
Eligible for tax benefits as per Income Tax Laws.
| Tata AIA Life Insurance - Term + Wealth Plans | Entry Age | Maturity Age | Sum Assured | |
| Tata AIA Smart Sampoorna Raksha Param Rakshak Plus | 18 - 45 years | 85 years | Rs. 50 Lakhs - 5 Crores | |
| Tata AIA Param Rakshak Pro | 18 - 65 years | 100 years | Rs. 50 Lakhs - No limit | |
| Tata AIA Param Rakshak (Return of Premium) | 18 - 60 years | 100 years | Rs. 50 Lakhs - No limit | |
| Tata AIA Param Rakshak II | 18 - 45 years | 85 years | - | |
| Tata AIA Param Rakshak IV | 18 - 55 years | 85 years | Rs. 50 Lakhs - No limit | |
| Tata AIA Param Rakshak Elite | 18 - 65 years | 100 years | - | |
| Tata AIA Param Rakshak Prime | 23 years - 65 years | 100 years | Rs. 1 Crore - No limit | |
| Tata AIA Param Rakshak II 2.0 | 18 - 65 years | 100 years | Rs. 50 Lakhs - No limit | |
| Tata AIA Param Rakshak (Return of Premium) 2.0 | 18 - 65 years | 100 years | Rs. 50 Lakhs - No limit |
Choose from 11 fund options to match your risk profile and 12 free fund switches each policy year.
Access up to 4 free partial withdrawals annually.
Benefit from included riders such as Accidental Death, CritiCare Plus, Accidental Total and Permanent Disability, and Hospicare.
Additional sum assured for accidental death, doubled if it occurs in public transport.
Comprehensive coverage for over 40 critical illnesses.
Payout for accidental total and permanent disability doubled for incidents on public transport.
Hospital Cash Benefit at 0.5% of the sum assured per day, with double the benefit for ICU days.
Receive a 10% upfront discount on first-year premiums with the Tata AIA Vitality wellness program.
Maturity benefit equals the fund value at the end of the policy term.
This plan allows you to invest in top rated funds and get financial protection
Get comprehensive coverage against accidental death, accidental total permanent disability, and terminal illnesses
Receive the premiums paid back along with the total fund value
Get income tax benefits as per the prevailing tax laws
Terminal illness cover pays 10% of the sum assured
Get financial cover along with market-linked returns
Receive coverage till 100 years of age
Choose to receive maturity benefits as the fund value + return of rider premium
Get tax benefits as per the prevailing tax laws
Enroll in wellness programs with Tata AIA Vitality Programs
Get life insurance cover with the return of fund value
Flexibility to pay the premiums in regular or limited pay term
Get tax benefits as per the prevailing tax laws
Enroll in Tata AIA’s Vitality Wellness Program
Choose from various fund options for suitable returns
Secure your family and choose from top rated fund options
Receive total fund value and rider premiums back
Terminal illness cover with term booster pays 40% of the sum assured on terminal illness diagnosis
Get tax benefits as per the prevailing tax laws
Get financial protection with the life insurance cover
Receive the total fund value + rider premiums back
Get extra cover against accidental death and ATPD
Terminal illness cover with term booster pays 20% of the sum assured under life insurance policy
Earn rewards with wellness program and improve your health
Get financial protection with the life insurance benefits
Get total fund value and rider premiums back at maturity
Terminal illness cover with term booster pays 50% of the base sum assured
Wellness program helps you get rewarded and improve your health
Life insurance cover upto 100 years for the family
Premium payment flexibility wuth regular and limited pay options
Receive a return of fund value on the maturity as boost for savings
Get accidental death and accidental total permanent disability cover
Choose the most suitable funds to invest in
Receive life insurance cover in case of unforseen circumstances
Get whole life cover till 100 years of age
Get a return on rider premiums + fund value
Claim tax benefits as per the prevailing tax laws
Get wellness benefits with the wellness program
Secure Your Family Future Today
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| Tata AIA Life Insurance - Savings Plans | Entry Age | Maturity Age | Sum Assured | |
| Tata AIA Fortune Guarantee Plus | 1 - 60 years | 77 years | Rs. 50,000 - 25 Lakhs | |
| Tata AIA Fortune Guarantee Supreme | 30 days - 65 years | 100 years | Minimum: For Joint Life (Death Benefit Multiple 7): 1st Death - Rs. 6,250 2nd Death – Rs. 35,000 For Regular/Limited pay: Option 1: Rs. 2,40,000 Option 2: Rs. 1,68,000 Maximum: No Limit |
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| Tata AIA Guaranteed Return Insurance | 45 - 65 years | 85 years | Equal to the Death Benet Multiple x Annualised Premium Basic Sum Assured will vary by Entry Age, Plan Option & Premium Payment Term |
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| Tata AIA Fortune Guarantee | Minimum: 18 years less Policy Term or 0 years (30 days), whichever is higher Maximum: 80 years less Policy Term or 65 years, whichever is lower |
80 years | 10 times the Annualized Premium | |
| Tata AIA Smart Value Income | 30 days - 65 years | 85 years | — | |
| Tata AIA Smart Income Plus | 3 - 50 years | 65 years | 11 times the Annualised Premium | |
| Tata AIA Money Back Plus | 2 - 51 years | 75 years | Rs. 2 Lakhs - No Limit | |
| Tata AIA MahaLife Gold | 30 days - 60 years | 85 years OR 100 years | Rs. 1 Lakh - No Limit | |
| Tata AIA Value Income Gold | 30 days - 65 years | 80 years | — | |
| Tata AIA Guaranteed Monthly Income | 6 - 60 years | 68 years | 11 times the Annualised Premium | |
| Tata AIA Diamond Savings | 3 - 55 years | — | 11 times the Annualised Premium | |
| Tata AIA Gold Income | 6 - 55 years | 77 years | Equal to Annualised Premium x Basic Sum Assured Multiple | |
| Tata AIA POS Smart Income Plus | 3 - 50 years | 65 years | 11 times the Annualised Premium |
Let’s learn more about Tata AIA Savings Plans in detail:
Benefits of Tata AIA Fortune Guarantee Plus are:
Choose between two plan options: Regular Income or Regular Income with an inbuilt Critical Illness benefit.
Flexible Income Period options ranging from 20 to 45 years.
Receive a premium return at the end of the Income Period.
Choose between Monthly or Annual income payouts.
Opt for Joint Life coverage with a Single Premium payment option.
Select your preferred Premium Payment Term.
Enhance protection with optional Riders.
Eligible for tax benefits as per applicable Tax Laws.
Benefits of Tata AIA Fortune Guarantee Supreme are:
Choose guaranteed benefits in the form of a lump sum and/or income to align with your financial objectives.
Increase your income by utilizing the sub wallet feature and withdraw as needed.
Women customers enjoy a 2% discount on the First Year's Premium as a special offer.
Utilize the "Premium Offset" feature to balance your premium against survival benefit payouts.
Benefit from tax advantages on premiums and benefits, following applicable Tax Laws.
Select from two Plan options:
Immediate Income
My Income.
Benefits of Tata AIA Guaranteed Return Insurance are:
Choose from three Plan Options: Endowment, Regular Income, or Whole Life Income.
Enjoy Guaranteed benefits on Maturity or in case of Death.
Benefit from Guaranteed Additions that increase your corpus annually under the Endowment Option.
Cover your spouse under the same policy with the Whole Life Income Option.
Select your desired Policy Term with a limited Premium Payment Term.
Enhance your protection with optional Riders.
Benefits of Tata AIA Fortune Guarantee are:
Assured lump sum benefit upon maturity.
Life cover to safeguard your loved ones.
Flexibility in choosing policy terms and premium paying terms.
Option to bolster protection with riders.
Enhanced benefits available for females.
Benefits of Tata AIA Smart Value Income are:
Choose between 2 plan options: Cash Bonus or Accumulating Cash Bonus.
Under plan option 1, receive declared cash bonuses as early as the 1st month in your Sub-wallet.
Under plan option 2, accumulate cash bonuses until the policy term's end and receive a substantial lump sum at maturity.
For Single Pay, select between Sum Assured-I and Sum Assured-II.
Sum Assured - I: Death Benefit multiple of 10 times the Single Premium.
Sum Assured - II: Death Benefit multiple based on your entry age.
Enjoy flexibility in financial and legacy planning with multiple options for Policy Term and Premium Payment Term.
Benefit from the Life Protect Feature, ensuring your life cover continues even if premium payments are postponed due to income loss or unemployment.
Enhance protection with optional Riders.
Tax benefits may be applicable on premiums paid and benefits received as per applicable tax laws.
Benefits of Tata AIA Smart Income Plus are:
Choose between Regular Income or Endowment options.
Guaranteed Payouts, ranging from 120% to 160% of the Annualized Premium, under the Regular Income Option, depending on your chosen premium payment term.
Pay premiums for 7, 10, or 12 years and enjoy guaranteed life cover for 15, 21, or 25 years.
Enhance protection with optional Riders.
Enhanced benefits for female policyholders.
Eligible for tax benefits under sections 80C and 10(10D) of the applicable Income Tax laws.
Benefits of Tata AIA Money Back Plus are:
Enjoy survival payouts of up to 130% of the Sum Assured at regular intervals throughout the policy term.
Maintain life cover for the entire policy term, regardless of survival payouts received.
Benefit from additional protection in the event of accidental death through the inbuilt Accident Benefit.
Pay premiums for only half of the policy term.
Increase your savings with compounded reversionary bonuses and terminal bonuses.
Receive a lump-sum maturity addition to fulfill your financial needs.
Enhance protection with optional riders.
Eligible for tax benefits under sections 80C and 10(10D) of the Income-Tax Act, 1961.
Benefits of Tata AIA MahaLife Gold are:
Secure lifelong coverage up to age 85 or age 100 with premium payments for 6, 8, or 15 years.
Plan your legacy by ensuring a steady income for yourself and your family over an extended period.
Benefit from guaranteed Annual Coupons starting from the 10th policy anniversary until maturity.
Receive non-guaranteed Cash Dividends annually from the 6th policy anniversary until maturity.
Obtain a lump sum at maturity in addition to regular income.
Enhance protection with optional Riders.
Eligible for tax benefits under sections 80C and 10 (10D) of the Income-Tax Act, 1961.
Benefits of Tata AIA Value Income Gold are:
Choose your plan option: Endowment, or Endowment with extended life cover until Age 100.
Receive Cash Bonuses or accumulate them if declared payable at maturity.
Get Cash Bonuses each year on the policy anniversary or on your birthday following the second policy anniversary.
Obtain a Guaranteed Maturity Benefit with declared bonuses upon maturity.
Enjoy flexibility with multiple options for Policy Term and Premium Payment Term.
Enhance your protection with optional Riders.
Benefits of Tata AIA Guaranteed Monthly Income are:
Plan your monthly income for 10, 16, or 24 years with flexibility.
Receive monthly income ranging from 8.35% to 13.03% per annum of the total premiums paid.
Benefit from the applicable Large Premium Boost to increase your monthly income.
Choose a Policy Term of 5, 8, or 12 years.
Ensure life cover to safeguard your loved ones.
Enhance protection with optional Riders.
Eligible for tax benefits under Section 80C and 10(10D) of the Income Tax Act, 1961.
Benefits of Tata AIA Diamond Savings are:
Secure guaranteed income after the premium payment term.
Receive vested Compound Reversionary Bonuses and Terminal Bonuses, if applicable, upon maturity or in case of death.
Enjoy flexibility in policy terms and premium paying terms.
Maintain life cover for the entire policy term.
Enhance protection with optional Riders.
Eligible for tax benefits under Section 80C and 10(10D) of the Income Tax Act, 1961, as per amendments.
Benefits of Tata AIA Gold Income are:
Receive Guaranteed Maturity Benefit at the policy term's end.
Choose your Guaranteed Income for either 10 or 15 years.
Start receiving Guaranteed Income at 12% of the Basic Sum Assured.
Enjoy increasing income with Income Boosters, ranging from 5% to 10%, on Guaranteed Income, based on premium amount, premium paying term, and chosen income term.
Obtain higher Guaranteed Income with a higher annual premium payment.
Pay premiums for 5 or 12 years for a policy term of 12 or 15 years.
Enhance your protection with optional Riders.
Eligible for tax benefits under sections 80C and 10(10D) as per the applicable Income Tax laws.
Benefits of areTata AIA POS Smart Income Plus:
Choose between Regular Income Benefit or Endowment Benefit options.
Receive a Guaranteed Payout of 120% of one Annualized Premium under the Regular Income Benefit Option.
Pay premiums for 7 years and enjoy life cover for 15 years.
Females between the ages of 11 to 50 years receive higher benefits.
No medical examination of the life insured is necessary under the Plan.
Eligibility for potential tax benefits under Section 80C and 10(10D) of the Income Tax Act, 1961.
| Tata AIA Life Insurance - ULIP Plans | Entry Age | Maturity Age | Sum Assured | |||||||||||
| Tata AIA Fortune Pro | 30 days - 59 years | 75 years | Minimum: For Single Pay: 1.25 times the Single Premium For Regular / Limited Pay: Higher of (10*AP) OR (0.5*Policy Term * AP) Maximum: For Single Pay: 1.25 times the Single Premium For Regular / Limited Pay: Entry Maximum
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| Tata AIA Fortune Maxima | 30 days - 60 years | 100 years | For Single Pay: 1.25 times the Single Premium For Limited Pay: Higher of (10*AP) OR (0.5*Policy Term*AP) |
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| Tata AIA Wealth Maxima | 30 days - 60 years | 100 years | For Single Pay: 1.25 times the Single Premium For Limited Pay: Higher of (10*AP) OR (0.5*Policy Term*AP) |
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| Tata AIA Wealth Pro | 30 days - 60 years | 75 years | Minimum: For Single Pay: 1.25 times the Single Premium For Regular / Limited Pay: Higher of (10*AP) OR (0.5*Policy Term * AP) Maximum: For Single Pay: 1.25 times the Single Premium For Regular / Limited Pay: Entry Maximum
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| Tata AIA Smart Sampoorna Raksha Plus | 18 - 55 years | 85 years | Minimum: Base (Life cover) For 5 pay – 9L Other PPT – 2.7L Manimum: Base (Life cover) - 50L |
Let’s learn more about Tata AIA ULIP Plans in detail:
Benefits of Tata AIA Fortune Pro:
Pay premiums either as a one-time payment or for a limited period, according to your preference.
Benefit from regular Loyalty Additions to enhance your investments.
Choose from 11 Fund options for improved investment opportunities.
Customize your plan with three additional unit-deducting riders.
Decide between Enhanced Systematic Money Allocation and Regular Transfer Investment Portfolio Strategy.
Eligible for tax benefits under sections 80C and 10(10D) of the Income Tax Act, 1961.
Benefits of Tata AIA Fortune Maxima are:
Pay premiums once or for a limited period and enjoy insurance for your entire life.
Benefit from regular Loyalty Additions to enhance your investments.
Choose from 11 Fund options for improved investment opportunities.
Customize your plan with three additional unit-deducting riders.
Decide between Enhanced Systematic Money Allocation and Regular Transfer Investment Portfolio Strategy.
Eligible for tax benefits under sections 80C and 10(10D) of the Income Tax Act, 1961.
Benefits of Tata AIA Wealth Maxima are:
Pay premiums once or for a limited period to secure insurance protection for your entire life.
Benefit from regular Loyalty Additions that boost your investments.
Choose from 11 Fund options for enhanced investment opportunities.
Customize your plan with three additional unit-deducting riders.
Select between Enhanced Systematic Money Allocation and Regular Transfer Investment Portfolio Strategy.
Eligible for tax benefits under sections 80C and 10(10D) of the Income Tax Act, 1961.
Benefits of Tata AIA Wealth Pro are:
Choose between a one-time premium payment or payments over a limited period based on your preference.
Benefit from regular Loyalty Additions that enhance your investments.
Enjoy flexibility with a selection of 11 Fund options for improved investment opportunities.
Customize your plan with the inclusion of three additional unit-deducting riders.
Decide between Enhanced Systematic Money Allocation and Regular Transfer Investment Portfolio Strategy.
Eligible for tax benefits under sections 80C and 10(10D) of the Income Tax Act, 1961.
Benefits of Tata AIA Smart Sampoorna Raksha Plus are:
Lump sum equal to 15 times the Annualized Premium in case of death.
Accidental Total & Permanent Disability2: Benefit payout for total and permanent disability due to an accident, with 2X benefit for public transport accidents.
Accidental Death2: Additional Sum Assured in case of Accidental Death, with 2X benefit for public transport accidents.
Terminal illness cover with Term Booster2: Sum Assured equals the Base Sum Assured on Death and Terminal Illness.
Return on Maturity1: Payout at the end of the Policy Term, including the fund value and return of all rider premiums paid.
Tata AIA Vitality is a science-based wellness program that offers an upfront discount of up to 10% on the first-year rider premium and rewards for healthy lifestyle choices.
| Tata AIA Life Insurance - Retirement Plans | Entry Age | Maturity Age | Annuity Payout Amount | |
| Tata AIA Fortune Guarantee Pension | Minimum: For PoS Option 2: 40 years Other than POS 30 years Maximum: For PoS Option 2: 70 years Other than POS Option 1 & 2: 85 years Option 3 & 4: 84 years |
— | Minimum: • Yearly in arrears: R 12 (in ‘000s) • Yearly in advance: R 12 (in ‘000s) • Half Yearly in arrears: R 6 (in ‘000s) • Quarterly in arrears: R 3 (in ‘000s) • Monthly in arrears: R 1 (in ‘000s) Maximum: No Limit |
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| Tata AIA Saral Pension Plan | 40 - 80 years | — | Minimum: Annually: ₹ 12,000 Half-yearly: ₹ 6,000 Quarterly: ₹ 3,000 Monthly: ₹ 1,000 Maximum: No Limit |
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| Tata AIA Smart Annuity Plan | 45 - 85 years | — | Minimum: Annually: ₹ 12,000 Half-yearly: ₹ 6,000 Quarterly: ₹ 3,000 Monthly: ₹ 1,000 Maximum: No Limit |
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| Tata AIA Fortune Guarantee Retirement Ready | 18 - 75 years | 85 years (vesting age) | Rs. 30,000 to No Limit |
Let’s learn more about Tata AIA Retirement Plans in detail:
Benefits of Tata AIA Fortune Guarantee Pension are:
Multiple annuity options available to meet your needs.
High purchase price benefit to incentivize increased savings.
Option to enhance annuity through top-up premiums.
Eligibility for potential tax benefits on premiums paid and benefits received in accordance with applicable tax laws.
Benefits of Tata AIA Saral Pension Plan are:
Choose from flexible annuity options to cater to your future needs.
Options include Life Annuity with Return of 100% of Purchase Price (ROP) and Joint Life Last Survivor Annuity with Return of 100% of Purchase Price (ROP) upon the death of the last survivor.
Choose between Single or Joint Life annuity.
Enjoy flexibility in selecting the mode of annuity payouts.
Benefits of Tata AIA Smart Annuity Plan are:
A range of flexible annuity options to align with your future requirements.
Options include Immediate Life Annuity, Immediate Life Annuity with Return of Purchase Price, and Deferred Life Annuity with Return of Purchase Price.
Choose between Single or Joint Life annuity.
Enjoy flexibility in selecting the mode of annuity payouts.
Optionally, enhance your Annuity Payout with a Top-Up.
Benefits of Tata AIA Fortune Guarantee Retirement Ready Plan are:
Choose from amongst 3 plan options based on your needs:
My Pension
Partner Pension
Partner Pension Plus plans
Save for regular income while providing life coverage for your family’s financial security.
Receive guaranteed additions of 6% of the Sum Assured each year if the policy is active and premiums are paid.
A lump-sum amount is added at the end of the policy term based on its duration, given at maturity if premiums are up to date.
Select from multiple premium payment options: Single, Limited, or Regular.
Women get a 2% discount on the first-year premium; joint policies with two female lives also qualify.
Transgender customers receive a 2% discount on the first-year premium.
Policyholders under 35 years old get a discount of up to 2% on the first-year premium.
Enjoy income tax benefits as per applicable sections of the ITA, 1961.
Here are the term insurance riders available in Tata AIA Life Insurance:
Accidental Death: Provides a lump sum (rider sum assured) to the policyholder's family if the insured dies in an accident, in addition to the base sum assured.
Accidental Disability: Offers a portion of the rider sum assured for treatment and daily living expenses if the policyholder suffers permanent, partial, or total disability from an accident.
Critical Illness Rider: Covers a specific list of critical illnesses, providing a lump sum payment upon diagnosis to help with treatment costs.
Waiver of Premium: Exempts the policyholder from future premium payments in case of death, critical illness, or total permanent disability, keeping the life insurance coverage active for the family.
Let us explain how these life insurance plans work with the help of Tata AIA benefit illustration:
Raman bought a term life insurance to secure his wife and two kids in the event of his untimely demise. He regularly paid the premiums to keep the policy active, with the policy covering him till 60 years of age. He suffered an unfortunate death in the 7th policy year. His wife then fills out the company’s claim form and receives the death payout. She uses the payout amount to pay for the rent, outstanding debts, and the child’s fees.
Here are the steps to buy Tata AIA Life Insurance from Policybazaar:
Step 1: Visit the official Policybazaar website and go to the Term Insurance section.
Step 2: Provide your name, contact details, gender, and date of birth.
Step 3: Enter the information regarding your job type, yearly income, educational qualifications, and smoking/tobacco consumption habits.
Step 4: Choose Tata AIA term plan from the list of term insurance plans that appears.
Step 5: Pay using your preferred mode to complete the process.
The claim settlement process of TATA AIA Life Insurance involves the following steps:
Intimation of Claim: The first step is to inform TATA AIA Life Insurance company about the policyholder's demise. Register the claim by visiting the official website of the company.
Other than this, you can contact the customer care of TATA AIA Life Insurance at 1-860-266-9966.
Or Drop a mail at: claims@tataaia.com
You can also WhatsApp the company your query by typing CLAIM & send it to +91-7045669966.
Documentation: Once the claim intimation is received, the next step is to submit the required documents. These documents may include the original policy document, death certificate, and medical records (if applicable).
Claim Processing: TATA AIA Life Insurance processes the claim after receiving the necessary documents. This involves verifying the claim's authenticity and assessing the eligibility for payout based on the terms and conditions of the policy.
The documents required to file the death claim under TATA AIA Life Insurance are mentioned below:
Mandatory documents
Claimant's statement
Cancelled cheque
Current address proof
Death certificate
(Issued by a local government body like Municipal Corporation / Appropriate Authority)
Cause of death – related document as mentioned below.
Additional Mandatory documents based on the death type:
| Medical/nature of death | For accidental or unnatural death | |
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Here are the exclusions in the Tata AIA Life Insurance:
Suicide: If the policyholder commits suicide within 12 months of buying the policy, his/her nominees will not be able to claim the death benefit of Tata AIA Life Insurance.
Risky Activities: Tata AIA Life insurance won't provide coverage if your demise results from involvement in unlawful or high-risk activities. Similarly, Tata AIA Life Insurance also doesn’t cover fatalities linked to extreme sports.
Pre-existing Health Conditions: When purchasing the Tata AIA Life Insurance policy, you must disclose any pre-existing medical conditions. Benefits will only be paid out if the insurer is aware of this information in advance.
Intoxication: Deaths caused by drug or alcohol use or overdose are not covered by Tata AIA life insurance policy.
Exemptions for Natural Disasters: Tata AIA Life insurance policies do not offer protection for loss of life due to natural disasters or calamities.
If you want to login as a customer using the Tata AIA Login portal, follow these steps:
For Existing Tata AIA Life Insurance Policy:
Step 1:Visit the Tata AIA Login Page of TATA AIA Life Insurance
Step 2:Select Individual
Step 3: Enter your Mobile Number/Policy Number/Email ID
Step 4: Enter your DoB
Step 5: Click on “Login With OTP”
*You can also login to your Tata AIA Life Insurance account with your password by entering your password instead of DoB and Click on “Login with Password”
Get in touch with the below mentioned Tata AIA Life Insurance customer care number:
For Existing Tata AIA Life Insurance Policy
Call @ 1860 266 9966
Dedicated NRI Helpdesk: @ +91 22 6251 9966
For New Tata AIA Life Insurance Policy
Call @ +91 22 6984 9300
Or give a missed call for a call back: @ +91 11 6615 8748
For NRIs
Give a missed call for a call back: @ +91 11 4473 0242
Tata AIA Life Insurance Customer Care Email ID
You can mail to the Tata AIA Life Insurance Customer Care Email ID at customercare@tataaia[dot]com
For online payment mode, the Tata AIA Life Insurance policyholder can pay via;
Alternatively, the policyholder can pay in cash or drop cheque at any of the payment collection centers or dropboxes mentioned on the Tata AIA website.
†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
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