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LIFE INSURANCE

Tata AIA Life Insurance Diamond Savings Plan

Overview

Every individual has different needs at different stages of life. We believe in protecting your dreams at various stages of life without compromising on your needs through financial resources. You do not have to think twice to live your dreams.

Tata AIA Life Insurance Diamond Savings Plan, a limited pay insurance plan that meets tomorrow's requirements along with protecting your loved ones. Investing in this plan will help you fulfil your medium and long-term goals, such as child’s education / second income and retirement planning.

Key Benefits

  • Guaranteed Income after premium payment term
  • Get vested Compound Reversionary Bonus and Terminal Bonus, if any; on maturity or on death
  • Pay for 8 or 12 years for a policy term of 18 or 25 years respectively
  • Get life cover for the entire policy term
  • Enhance your protection with optional Riders
  • Eligible for tax benefits under Section 80C and Section 10(10D) of the Income Tax Act, 19611

 

Eligibility Criteria:

Plan Parameters
Minimum Maximum
Age at Entry (years)^ 0 50
Age at Maturity (years)^ 18 75
Premium (in Rs. in multiples of 1000) 18,000 p.a. No Limit (subject to underwriting policy)
Premium Payment Mode Annual/ Half Yearly/ Quarterly/ Monthly Annual/ Half Yearly/ Quarterly/ Monthly
Policy Term 18 to 25 18 to 25
Premium Payment Term

8 years for Policy Term 18

12 years for Policy Term 25

8 years for Policy Term 18

12 years for Policy Term 25

Basic Sum Assured 11 times to the Annualized premium 11 times to the Annualized premium

 

^ All reference to age is as on last birthday

Tata AIA Life Insurance Smart Income Plus

Overview

Savings plans are the only which comes with inbuilt protection along with traditional savings scheme. You do not have to think before investing in such savings products.

Tata AIA Life Insurance Smart Income Plus is a limited pay income plan that meets tomorrow's requirements along with protecting your loved ones and dreams as it ensures you of guaranteed returns* for the money invested.

Key Features

  • Flexibility to choose between Regular Income or Endowment options
    -- Regular Income: Guaranteed Payouts as a percentage of the Annualised Premium (120% to 160%, basis premium paying term) shall be payable annually. The income shall commence from the end of policy year 9/12/14 for premium paying terms 7 / 10 / 12 years respectively and shall be payable till maturity.
    -- Endowment: A Guaranteed Payout as a multiple of the Annualised Premium will be paid at the end of policy year preceding the year of maturity.
  • Receive Guaranteed Payouts from 120% to 160% of the Annualised Premium under Regular
  • Income Option
  • Pay for 7/10/12 years, get guaranteed life cover for 15/21/25 years
  • Enhance your protection with optional Riders
  • Higher benefit for female lives

 

Eligibility criteria:

 

Plan Option Option 1: Regular Income
Option 2: Endowment
Plan Parameters Minimum Maximum
Age at Maturity (years)* 18 For PT 15: 65
For PT 21: 71
For PT 25: 75
Policy Term (PT) (years) 15/21/25
Premium Payment Term (PPT) (years) 7 for PT 15/10 for PT 21/12 for PT 25
Basic Sum Assured 11 times Annualised Premium
Premium^ (Rs.) (Premium in multiples of 1000) For Option 1: 18,000
For Option 2: 36,000
No limit subject to Underwriting
Premium Payment Mode Annual/ Half-yearly/ Quarterly/ Monthly

 

* All reference to age is as on last birthday.

^This Premium is exclusive of applicable taxes, cesses and levies or any other extra premium.

Tata AIA Life Insurance Gold Income Plan

Overview

Guarantee is required when we invest in savings product. Today nothing is guaranteed but Gold Income Plan brings it for us at our doorsteps.

Tata AIA Life Insurance Gold Income Plan, a limited pay income plan that meets tomorrow's requirements along with protecting your loved ones and dreams as it ensures you of guaranteed returns* for the money invested. This plan not only offers Guaranteed Lump Sum benefit on Maturity but also gives Guaranteed Income^ during the income term that increases every year.

Key Features

  • Pay for 5/12 years for a policy term of 12/15 years
  • Choose your Guaranteed Income* for 10 or 15 years
  • Get Guaranteed Maturity Benefit* at the end of the policy term
  • Receive Guaranteed Income starting @ 12% of the Basic Sum Assured
  • Enjoy increasing income with Income Boosters# of 5% to 10% on Guaranteed Income^
  • Get higher Guaranteed Income with higher annual premium payment
  • Enhance your protection with optional Riders
  • Receive tax benefits u/s 80C and 10(10D), as per the applicable Income Tax laws

 

Eligibility criteria:

 

Plan Parameters Minimum Maximum
Age at Entry (years)* 5 pay: 6
12 pay: 3
5 pay: 65
12 pay: 55
Age at Maturity (years)* 18 5 pay: 77
12 pay: 70
Policy Term (PT) (years) 12/15
Policy Payment Term (PPT) (years) 5 for PT 12/12 for PT 15
Basic Sum Assured "Basic Sum Assured" shall be equal to the Annualised Premium x Basic Sum Assured Multiple
Premium^ (Rs.) (Premium in multiples of 1000) 5 Pay: 50,000 p.a.
12 Pay: 36,000 p.a.
No limit subject to Underwriting
Premium Payment Mode Annual/ Half-yearly/ Quarterly/ Monthly

 

*All reference to age is as on birthday

^ This premium is exclusive of applicable taxes, ceases and levies or any other extra premium

Tata AIA Life Insurance Monthly Insurance Plan (MIP)

Overview

We all have dreams in life like owning a house, buying a dream car or going on a vacation; at the same time, planning for Children's Education, their Marriage, our Retirement and settlement of outstanding debts. Achieving all these dreams may seem like an uphill task, but it’s possible, if we are prepared for it. Step by Step investing small sums of money every month over a period of time, in a disciplined manner, will help your money to grow, so you can fulfil your dreams.

Tata AIA Life Insurance Monthly Insurance Plan (MIP) is a plan which helps you save monthly for a limited period to create big corpus for your future needs. Besides this, you get Guaranteed Yearly Additions and Bonuses to further enhance your savings along with Life cover and Tax Benefits.

Key Features

  • Build up a corpus for your future goals with monthly savings
  • Get Guaranteed Yearly Additions accrued at the beginning of each policy year
  • Get Compounded Revisionary Bonus and Terminal Bonus to further enhance your savings
  • Receive a lump sum benefit at maturity of the Policy
  • Get life cover of at least 10 times the annualised premium for the entire policy term
  • Enhance your life cover with optional Rider
  • Avail loan facility to meet unforeseen needs
  • Get tax benefits on investment and on returns, as per the applicable income tax laws