- What is Tata AIA Pension Plan
- Best Tata AIA Pension Plans
- Details of Tata AIA Pension Plans
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- What is Tata AIA Pension Plan
- Best Tata AIA Pension Plans
- Details of Tata AIA Pension Plans
- Steps to Buy
- Benefits
- TATA AIA Pension Plan Calculator
- Frequently Asked Questions
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Tata AIA Pension Plans
Tata AIA Pension Plans offer a robust solution for individuals seeking to secure their financial future post-retirement. With a focus on reliability and flexibility, these plans provide a structured approach to building a retirement corpus while offering various benefits such as tax advantages and guaranteed returns.
Secure Your Retirement with Best TATA AIA Pension Plan
Insurer highlights
Starting premium
₹2,000/month
Past returns
Upto 20%
Tax saving
Sec 80 C, Sec 10(10D)
No. of funds
Upto 20
Invest ₹6,000/month & Get Tax-Free* Monthly Pension of ₹60,000#
Get the best returns & make the most of your golden years
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Written By: Sameep Singh
Sameep Singh Business Unit Head - Domestic Savings
Mr. Sameep Singh is a Business Unit Head for the domestic Investment Business at policybazaar.com, holding a master's from Symbiosis School of Banking & Finance. He has played a pivotal role in crafting investment and term business strategies during his tenure at Policybazaar. His exceptional leadership has been instrumental in driving both product and business growth throughout his impressive career.
Reviewed By: Vivek Jain
Vivek Jain Head of Savings business
Mr. Vivek Jain is the Business Unit Head for Investment Business at Policybazaar.com. A graduate of the prestigious IIM Calcutta he brings over a decade of invaluable experience to his current role. In his capacity as Business Unit Head, he has been a driving force behind the success of Policybazaar's Investment business. Mr. Jain is recognized for his instrumental role in product innovation within the Savings/Investment domain. His leadership and expertise have been pivotal in scaling up the Investment business, underscoring his significant contributions to Policybazaar.com's growth and success.
What is Tata AIA Pension Plan?
Tata AIA Pension Plans are retirement investment options offered by Tata AIA Life Insurance Company Limited. These best pension plans are designed to help you accumulate funds during your working years to secure a steady income post-retirement. Tata AIA Pension plans invest in market-linked pension plans, offering various benefits, such as regular income payments after retirement, tax benefits on contributions, and flexibility in choosing the retirement age depending on the chosen plan variant. The Tata AIA Pension Plans aim to provide you with financial security and stability during your retirement years.
Types of Pension plans
There are 2 types of pension plans: market-linked pension plans and annuity plans.
Market Linked
Market-linked pension plans invest your money in Unit Linked Insurance Plans (ULIPs) with a policy term of 99 years. One portion of your money is invested in top-performing market-linked funds, and the plan's value grows with these investments. Depending on the plan type, you can systematically withdraw funds after a certain period. The other portion provides you with insurance coverage.
Annuity plans
Annuity plans, on the other hand, offer 100% guaranteed income during retirement. The amount is pre-decided at the time of policy purchase and does not get affected due to market fluctuations at any time.
Best Tata AIA Pension Plans††in India in 2024
The following table lists the three best investment plans offered by Tata AIA Pension Plans in India:
| Tata AIA Pension Plans | Plan type | Entry age | Vesting age | Premium Payment Term (PPT) | Policy Term (PT) | Sum Assured on Vesting* |
| Tata AIA Fortune Guarantee Pension | Annuity | 30 — 84 years | NA | Single Pay Regular/ Limited 5 — 12 years |
Single Pay 1 — 10 years Regular same as PT Limited PPT + 1 year to PPT + 5 years |
Rs. 12,000 p.a. — No Limit |
| Tata AIA Fortune Guarantee Retirement Ready | Annuity | 18 — 65 years | 40 – 85 years | Single Pay Regular/ Limited 5 — 15 years |
Single Pay 5 — 50 years Regular 5 — 15 years Limited 6 – 50 years |
Rs. 30,000 p.a. — No Limit |
| Tata AIA Fortune Maxima | Market linked | 18 — 60 years | 100 years | Single Pay; Limited: 5 — 20 years |
100 minus entry age | Single 1.25 x Single Premium Limited 7 x Annualised Premium |
| Tata AIA Saral Pension | Annuity | 40 — 80 years | NA | Single Pay | 1 Year | Rs. 12,000 p.a. — No Limit |
Disclaimer: ††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. The sorting is done in alphabetical order (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
Details of Top Tata AIA Pension Plans in 2024
Tata AIA Fortune Maxima is a non- participating, Unit- Linked Insurance Plan (ULIP) that provides life insurance protection for your entire life. This investment option also allows you to invest your money in chosen market-linked funds as per your risk appetite.
Features of Tata AIA Fortune Maxima Plan:
- Insurance Protection: Pay premiums once or for a limited period and enjoy lifelong insurance coverage.
- Savings Enhancement: Regular Loyalty Additions boost savings over time.
- Investment Flexibility: Choose from 21 Fund options to tailor your investment strategy.
- Customization Options: Customize your plan with a range of riders to suit your specific needs.
- Portfolio Strategy Choices: Opt for Enhanced Systematic Money Allocation & Regular Transfer Investment Portfolio Strategy.
- Tax Benefits: Enjoy tax benefits under sections 80C and 10 (10D) of the Income Tax Act, 1961.
The Tata AIA Fortune Guarantee Retirement Ready Plan is a retirement plan offered by Tata AIA Life Insurance. It is a non-linked, non-participating plan, which means that the returns are not linked to the market performance, and there are no bonus payments.
Features of Tata AIA Fortune Guarantee Retirement Ready Plan:
- Flexibility: Choose from three plan options: My Pension, Partner Pension, and Partner Pension Plus.
- Guaranteed Additions: Get guaranteed additions of 6% of the sum assured on vesting, boosting your retirement savings.
- Lump Sum Vesting Addition: Receive a lump sum Vesting Addition payment upon reaching the vesting period.
- Premium Payment Options: Choose between Single, Limited, or Regular premium payment terms.
- Special Discounts: Enjoy special discounts for Women, Transgender individuals, and young policyholders.
- Tax Benefits: Take advantage of tax benefits under Section 80C of the Income Tax Act, 1961, to save on taxes while securing your retirement.
The Tata AIA Fortune Guarantee Pension Plan is a non-linked, non-participating individual life insurance plan designed to provide you with a guaranteed income after retirement.
Features of Tata AIA Fortune Guarantee Pension Plan:
- Lifetime Guaranteed Income: Receive a guaranteed income for life after a deferment period, payable monthly, quarterly, half-yearly, or annually.
- Deferment Period: Time between purchasing the policy and the start of annuity payments, ranging from 1 to 10 years.
- Premium Payment Options: Choose from single pay, limited pay, or regular pay options.
- Death Benefit: If the policyholder dies during the deferment period, the nominee receives the higher of total premiums paid or a guaranteed amount, plus accrued guaranteed additions.
- Tax Benefits: Premiums qualify for tax deductions under section 80C of the Income Tax Act (subject to changes).
The Tata AIA Saral Pension Plan is a single premium, non-linked, non-participating, individual, immediate annuity plan offered by Tata AIA Life Insurance. This retirement plan is designed to provide you with a guaranteed income stream for your entire lifetime after you invest a lump sum amount.
Features of Tata AIA Saral Pension Plan:
- Lifetime Guarantee: Receive a steady income for your whole life, as per policy conditions.
- One-time Investment: Begin with a single lump sum.
- No Medical Tests: Avoid the hassle of medical exams.
- Flexible Payout Options: Customize your annuity payments to match your preferences—monthly, quarterly, half-yearly, or yearly.
- Life Annuity with 100% Return of Purchase Price (ROP): Get back at least what you invested, even if you pass away before the policy ends.
- Joint Life Last Survivor Annuity with 100% Return of Purchase Price (ROP): Ensure income for both you and your spouse while either of you is alive, with a refund to the nominee if both pass away.
Steps to Buy Tata AIA Pension Plans from Policybazaar
You can follow the steps mentioned below to purchase the best-suited Tata AIA Pension Plans through Policybazaar:
Steps to buy Tata AIA Pension Plans
- Visit Policybazaar: Go to policybazaar homepage, click on the Retirement Plans section, fill details and navigate to the pension plan options.
- Basic Information: Enter the basic information to customize your pension plan options like city, your current age, and annual income range.
- Search and Compare: Find Tata AIA pension plans, compare features, premiums, and benefits.
- Select Your Plan: Choose the Tata AIA pension plan that best suits your needs and preferences.
- Fill in Details and Customize: Enter your details, customize the plan if options are available (e.g., premium frequency, sum assured).
- Make Payment and Receive Documents: Proceed with the payment online, fill the proposal form and upload documents . Once completed, you'll receive the policy documents electronically.
Benefits of TATA AIA Pension Plans
Policybazaar simplifies comparing Tata AIA pension plans and helps you make investment decisions easily.
Policybazaar offers online purchasing, saving time over direct dealings with Tata AIA.
Policybazaar provides assistance with queries and the application process.
Policybazaar consolidates insurer research in one place, saving time.
Policybazaar offers unbiased guidance as it is not affiliated with any specific insurance company.
People Also Ask
TATA AIA Pension Plan Calculator
Pension Plan Calculator helps you easily calculate the amount you need to invest to get a desired pension. It helps you to make informed financial decisions for your retirement. You just need to enter basic information like your age, monthly expenses, and retirement age, the calculator will show you the required investment amount.
Summary
Tata AIA Pension Plans are a great way to make sure you have enough money for when you retire. They give you investment choices, good returns, and financial support for your retirement period, which makes them a smart option for securing your future.
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*All savings are provided by the insurer as per the IRDAI approved
insurance plan. Standard T&C Apply
*Please note that the quotes shown will be
from our
partners
†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. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
*Tax benefit is subject to changes in tax laws
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the
taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5
Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject
to changes in tax laws.
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
#The returns calculated at a 15% annual compound interest rate are hypothetical and for illustrative purposes only. Actual returns may vary based on market conditions and other factors. Past performance is not indicative of future results. Please consult a financial advisor for personalized advice.
