Tata Aia Life vs Sbi Ulip Plans

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Tata Aia Life vs Sbi Ulip Plans

COMPANY DETAILS Edit TATA AIA Life Insurance

Tata Aia Life

Edit SBI ULIP Plans

Sbi Ulip Plans

Rating
Number of life insurance plans and add-ons
Annual Premiums Collected (2024-25)

Annual Premiums Collected (2024-25)

483.60Cr

Annual Premiums Collected (2024-25)

Rs 1 lakh to No limit
Payout Options

Payout Options

Network hospitals are not applicable for life insurance policies as they do not involve cashless hos

Payout Options

-
Claim ratio

Claim ratio

99.29%%

Claim ratio

Minimum Age- 14 year%
Solvency Ratio

Solvency Ratio

1.80

Solvency Ratio

70 years
Branches

Branches

317+

Branches

Annual, half-yearly,
Riders Available

Riders Available

The claim form for Tata AIA Life Insurance can be obtained from their official website, by contacting their customer service, or by visiting a nearest branch office. For death claims, a specific death claim form is required.

Riders Available

10 to 30 years
Policy Term

Policy Term

10 to 40 years

Policy Term

10 to 30 years
Recommended Videos
TATA AIA Life Insurance Review

TATA AIA Life Insurance Review

Overview

Tata AIA Life Insurance: Overview

Tata AIA Life Insurance Company Limited (Tata AIA Life) is a joint venture between Tata Sons Pvt. Ltd. (holding 74% stake) and AIA Group Ltd. (holding 26%). Tata AIA Life Insurance is one of India's largest private-sector insurers, providing a diverse variety of life, health, and group insurance products to individuals, groups, and enterprises.

To cater to different insurance needs, Tata AIA Life Insurance Company Ltd. offers multiple life insurance segments such as protection plans, wealth plans, child plans, savings plans, group plans, micro-insurance plans, and more. Tata AIA Life combines Tata's strong leadership in India with AIA's presence as the largest independent listed pan-Asian life insurance group, spanning 18 markets in the Asia Pacific region.

Tata AIA Life commenced operations on April 1, 2001. For the financial year 2022-23, its total premium income increased to Rs. 14,445.03 crores, a growth of 34%. With a claim settlement ratio of 99.01% and a variety of term plans for your family's financial protection, Tata AIA Life is among the most trusted insurers.

Tata AIA Life Insurance plans offer:

  • Excellent claim support
  • Easy claim processing
  • Pocket-friendly premiums
  • Lifetime Payout
  • Tax benefits

Riders

Riders You Can Avail With Tata AIA Life Insurance Plans

Name of the rider Benefits
Tata AIA Waiver of Premium Rider Waives all future premiums, ensuring policy benefits remain intact in case of disability, dismemberment, or diagnosis of critical illness.
Tata AIA Accidental Death Rider Provides additional financial support to dependents upon the policyholder's death due to an accident.
Tata AIA Accidental Disability Rider Offers financial benefits if the policyholder becomes partially or totally disabled due to an accident.
Tata AIA Critical Illness Rider Pays a lump sum benefit if the policyholder is diagnosed with any of the critical illnesses specified in the policy brochure.

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SBI ULIP Plans

To cater to your wealth creation needs, SBI offers 8 ULIP plans. Unit Linked Insurance Plans are investment-cum-life insurance policies.

SBI Ulip Plans Plans

SBI Ulip Plans

SBI Life Insurance Company offers a range of insurance products, including life, health, motor, and travel insurance. The SBI Life Smart Elite Plan is...

Unique Features

  • 9 Investment Fund Choices
  • Switching Option Available
  • Surrender Policy Anytime

SBI Smart Elite Plan (Pros)

SBI Smart Elite Plan
  • 9 Investment Fund Choices
  • Switching Option Available
  • Surrender Policy Anytime

SBI Smart Elite Plan (Cons)

SBI Smart Elite Plan
  • No pre-existing condition
  • Suicidal exclusion
  • No auto-cover continuance

SBI Smart Elite Plan (Other Benefits)

SBI Smart Elite Plan
  • Death Benefits
  • Maturity Benefits
  • Fund Switching

SBI Smart Elite Plan (Eligibility Criteria)

SBI Smart Elite Plan
  • Minimum entry age: 18 years
  • Maximum entry age: 60 years
  • Maximum sum assured: 105% of premiums
  • Maximum policy term: 30 years

SBI Ulip Plans

SBI Life Smart Wealth Builder is an individual, unit-linked, and non-participating life insurance plan. It offers a dual benefit of insurance and inve...

Unique Features

  • Guaranteed Bonus During Policy Term
  • Free Look Period of 15 Days
  • 1 Free Partial Withdrawal

SBI Life Smart Wealth Builder (Pros)

SBI Life Smart Wealth Builder
  • Death Benefits
  • Maturity Benefits
  • Guaranteed Additions

SBI Life Smart Wealth Builder (Cons)

SBI Life Smart Wealth Builder
  • No pre-existing condition
  • Suicidal exclusion
  • No auto-cover continuance

SBI Life Smart Wealth Builder (Other Benefits)

SBI Life Smart Wealth Builder
  • Guaranteed Bonus During Policy Term
  • Free Look Period of 15 Days
  • 1 Free Partial Withdrawal

SBI Life Smart Wealth Builder (Eligibility Criteria)

SBI Life Smart Wealth Builder
  • Minimum entry age- 7 years
  • Maximum entry age- 55 years
  • Maximum sum assured- 10* Annualized Premium
  • Maximum policy term- 30 years

SBI Ulip Plans

SBI Life Saral Maha Anand is a unit-linked, non-participating life insurance product that offers growth opportunities through capital market participa...

Unique Features

  • Accidental Death Rider Benefits
  • Availability of 3 Fund Options
  • No medical Examination Required

SBI Saral Maha Anand (Pros)

SBI Saral Maha Anand
  • Guaranteed Additions of up to 30%
  • Requires no medical examination
  • Flexibility to choose from 3 fund options

SBI Saral Maha Anand (Cons)

SBI Saral Maha Anand
  • No pre-existing condition
  • Suicidal exclusion
  • No auto-cover continuance

SBI Saral Maha Anand (Other Benefits)

SBI Saral Maha Anand
  • Accidental Death Rider Benefits
  • Availability of 3 Fund Options
  • No medical Examination Required

SBI Saral Maha Anand (Eligibility Criteria)

SBI Saral Maha Anand
  • Minimum entry age - 18 years
  • Maximum entry age - 55 years
  • Minimum sum assured - Rs 10 x AP
  • Maximum sum assured - Higher of 20 x annualized premium
  • Maximum policy term - 30 years
Naval Goel

Reviewed By: Naval Goel

Naval Goel is the CEO & founder of PolicyX.com. Naval has an expertise in the insurance sector and has professional experience of more than a decade in the Industry and has worked in companies like AIG, New York doing valuation of insurance subsidiaries. He is also an Associate Member of the Indian Institute of Insurance, Pune. He has been authorized by IRDAI to act as a Principal Officer of PolicyX.com Insurance Web Aggregator.