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Tata Aia Life vs Sud Life Insurance

Tata Aia Life

TATA AIA Life Insurance Company Limited (Tata AIA Life) is a joint venture company, formed by Tata Sons Pvt. Ltd. and AIA Group Ltd. TATA Sons holds a majority of stake at 74%, and AIA holds 26%.

Sud Life Insurance

SUD Life is one of the leading life insurance companies that offer a range of insurance products such as term plans, investment plans, savings plan, etc.

COMPANY DETAILS

Tata Aia Life

Sud Life Insurance

Rating	Rating 4.6	Rating 4.6
Number of life insurance plans and add-ons	No. of Plans -	No. of Plans -
Annual Premiums Collected (2023-24)	Annual Premiums Collected (2023-24) 445.03 Cr	Annual Premiums Collected (2023-24) 5746.37 crore
Payout Options	Payout Options Lump sum, monthly or a combination of both	Payout Options Lump sum, regular frequencies or a combination of both
Claim ratio	Claim ratio 99.01%	Claim ratio 97.42%
Solvency Ratio	Solvency Ratio 1.9.	Solvency Ratio 2.2
Branches	Branches 317+	Branches 1500+ bank partnersh
Riders Available	Riders Available Waiver of Premium Rider, Accidental Death Rider, Accidental Disability Rider, Critical Illness Rider	Riders Available Family Income Benefit Rider, Accidental Total & Permanent Disability Rider
Policy Term	Policy Term 10 to 40 years	Policy Term 5 to 40 years

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Overview

Tata AIA Life Insurance: Overview

TATA AIA Life Insurance Company Limited (Tata AIA Life) is a joint venture company, formed by Tata Sons Pvt. Ltd. and AIA Group Ltd. TATA Sons holds a majority stake of 74%, and AIA holds 26%. TATA Life Insurance provides a diverse variety of insurance products to people, groups, and enterprises of all sorts, and is one of India's largest private-sector insurers, supplying life, health, and group insurance to its clients. To cater to the different insurance needs, TATA AIA Life Insurance Company Ltd. deals in 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 pre-eminent leadership position in India and AIA's presence as the largest, independent listed pan-Asian life insurance group in the world spanning 18 markets in the Asia Pacific region. Tata AIA Life started its operations on April 1, 2001. For the financial year 2022-23, the total premium income of Tata AIA Life increased to Rs. 14,445.03 crores, a growth of 34%. With a claim settlement ratio of 99.01% and varied term plans to choose from for the financial protection of your family, Tata AIA Life is amongst the most trusted insurers.

Tata Insurance Plans ensures to look after your insurance needs by offering:

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	It will waive all future premiums and the benefits of the policy will remain the same in case of disability, dismemberment, or diagnosis of critical illness.
Tata AIA Accidental Death Rider	Offers financial help to your dependents in addition to base policy benefits in case of the policyholder’s death due to an accident.
Tata AIA Accidental Disability Rider	This rider offers financial benefits in case the policyholder becomes partially or totally disabled due to an accident.
Tata AIA Critical Illness Rider	In case the policyholder is diagnosed with any of the critical illnesses mentioned in the brochure then rider benefits are paid to them.

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