Tata AIA Life Investment Plan
Tata AIA Life Investment Plans
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Tata AIA Life Investment Plans

The joint venture between Tata Sons Pvt. Ltd. and AIA Group Ltd. gave rise to Tata AIA Life Insurance Company. It has been successfully serving the needs of the customers ever since. The claim settlement ratio for FY 2018-2019 is 99.07%. Tata AIA Insurance Company offers different insurance products like life insurance plans, unit-linked insurance plans, savings & investment insurance plans, retirement plans and several riders are available under it.

Here we are going to discuss all the savings & investment plans offered by Tata AIA Life Insurance Company.

Detailed Description of Tata AIA Life Investment Plans

Tata AIA Life Insurance Company offers 14 investment & savings plans. They provide you with life insurance and also acts as savings to safeguard the future dreams of your family and kids. Here is a detailed explanation of each plan.

1. Tata AIA Guaranteed Return Insurance Plan

Tata AIA Life Investment plans can help you achieve all your dreams. Guaranteed Return Insurance Plan served under Tata AIA Life investment plans is one of the best savings cum protection plan. It is a non-linked and non-participating life insurance plan. The plan has been specially designed for an individual. There are three plan options under the Guaranteed Return Insurance Plan.

Plan options:

  • Endowment
  • Regular Income
  • Whole Life Income

Benefits

  • The plan provides you with the flexibility to choose from different plan options.
  • You will get guaranteed benefits both in case of death or maturity of the policy.
  • Different choices are provided under the plan related to the policy term and premium payment term.
  • You can enhance your coverage with the help of the rider facility available under the plan. The rider can charge you a higher premium.
  • The plan comes with the tax benefit option under section 80C and 10(10D) of the Income Tax Act, 1961. The premiums paid under the plan and the maturity/death benefits are tax-free.
  • Guaranteed additions are provided under the plan, this boosts your fund every year.

Eligibility

Premium Payment Term
OptionPremium Payment TermPolicy TermMinimum Entry AgeMaximum Entry AgeSingle/Joint Life
Option 1: Endowment5 Years10 Years8 Years60 YearsSingle life
6 Years12 Years6 Years60 Years
10 Years20 Years0 Years55 Years
Option 2: Regular Income Plan10 Years11 Years7 Years55 YearsSingle life
12 Years13 Years5 Years55 Years
Option 3: Whole Life IncomeSingle Pay5 Years45 Years65 YearsSingle life/Joint life
5 Years5 Years45 Years65 Years
PremiumMinimum: Rs.50,000 per annum
Maximum: No limit

2. Tata AIA Smart Income Plus Plan

Smart Income Plus Plan is a non-linked and non-participating life insurance plan. It falls under the endowment assurance plan criteria. The plan provides appreciable coverage to its policyholders. There are two plan options provided under the Smart Income Plus Plan. The plan options are:

  • Option I: Regular Income
  • Option II: Endowment

Benefits

Here are a few of the excellent benefits that you can avail on buying the policy:

  • You get the flexibility to choose between the two plan options available under the Smart Income Plus Plan.
  • Female policy buyers get higher benefits.
  • You can receive guaranteed payouts ranging between 120% to 160% of the annualized premium under regular income option. It is based on the premium payment term opted by you.
  • Tax exemption benefits are provided on the premiums paid under the plan and death/maturity benefits availed under the plan according to the Income Tax Laws.
  • Optional rider facility is available under the plan.

Eligibility

CriteriaMinimumMaximum
Entry Age3 Years50 Years
Maturity Age18 YearsFor policy term 15 years: 65 years
For policy term 21 years: 71 years
For policy term 25 years: 75 years
PremiumFor option I: Rs.18,000
For option II: 36,000
No limit
Policy Term15 Years/21 Years/25 Years
Premium Payment Term7 Years for the policy term of 15 years.
10 Years for the policy term of 21 years.
12 Years for the policy term of 25 years.
Basic Sum Assured11 times the annualized premium.

3. Tata AIA Guaranteed Monthly Income Plan

It is a non-linked and non-participating life insurance plan. The plan provides you with life security and also acts as an investment/savings. The plan provides death benefits to the beneficiary of the policy in case of death of the policyholder. Excellent benefits are enjoyed by insureds under Tata AIA Guaranteed Monthly Income Plan. Here are the benefits offered under the plan:

Benefits

  • The plan provides its policyholder with the flexibility to plan his/her monthly income. The policyholder can plan his/her monthly income for 10 years/16 years/24 years.
  • The death benefits help the policyholder’s family meet all the financial obligations of daily life.
  • You can receive monthly income under this plan. The monthly income ranges between 8.35% to 13.03% p.a on the total premium paid under the plan.
  • Optional riders are available under the plan.
  • Policy premiums paid under this are tax-free.
  • The death benefits and maturity benefits provided under the plan are also tax-free.

Eligibility

Policy Term5 Years8 Years12 Years
Minimum Entry Age13 Years10 Years6 Years
Maximum Entry Age60 Years60 Years55 Years
Maximum Maturity Age65 Years68 Years67 Years
Minimum Annualized PremiumRs.75,000Rs.50,000Rs.36,000
Maximum Annualized Premium No limitNo limitNo limit
Basic Sum Assured11 times of the annualized premium
Premium Payment ModeYearly/ half-yearly/ quarterly/ monthly

4. Tata AIA Diamond savings Plan

Diamond Savings Plan is designed for an individual. It is a non-linked and participating life insurance plan. Individuals can buy this plan as per their life requirements. The plans have excellent features and benefits. Few of the benefits of the plan are mentioned below:

Benefits

  • You get a guaranteed income after the premium payment term.
  • You can enhance your cover with the help of the riders available under the plan.
  • The plan offers flexible premium payment terms and policy terms.
  • The tax benefit is provided under the plan.
  • The plan provides compound reversionary bonus and terminal bonus (if any), on maturity or in the case of death.
  • You get life cover for the entire policy term.

Eligibility

Policy Term15 Years20 Years15 Years18 Years25 Years
Premium Payment Term5 Years5 Years6 Years8 Years12 years
Income Term10 Years15 Years9 Years10 Years13 Years
Minimum Entry Age3 Years0 Years3 Years0 Years0 Years
Maximum Entry Age55 Years55 Years55 Years60 Years60 Years
Minimum PremiumRs.18,000/- p.a
Maximum PremiumNo limit
Basic Sum Assured11 times of the annualized premium

5. Tata AIA Gold Income Plan

Gold Income Plan is a non-linked endowment assurance plan. The plan is non-participating in nature. This Tata AIA investment plan helps it’s insured fulfil all the short-term and long-term goals like child’s education/marriage and retirement planning. Here are mentioned a few of the benefits provided under this Tata investment plan:

Benefits

  • You get guaranteed maturity benefits at the end of the policy term.
  • A guaranteed income is provided under the plan starting at 12% of the basic sum assured.
  • TYou can avail enhanced protection with the rider option.
  • Tax benefits are provided under section 80C and 10(10D) of the Income Tax Act, 1961.
  • You can also enjoy increasing income benefit with the income booster of 5% to 10% on the guaranteed income. The booster percentage depends on the premium amount, premium payment term and income term opted by you.
  • The nominee gets death benefit in case of death of the policyholder. The sum assured on death is the highest of :
    • 11 times the annualized premium.
    • 105% of the premium paid.
    • The guaranteed sum assured on maturity.
    • Absolute amount assured to be paid on death.

Eligibility

CriteriaMinimumMaximum
Entry Age5 Pay: 6 years
12 Pay: 3 years
5 Pay: 65 years
12 Pay: 55 years
Maturity Age18 Years5 Pay: 77 years
12 Pay: 70 years
Policy TermPolicy TermPremium Payment Term
12 Years5 Years
15 Years12 Years
Premium5 Pay: Rs.50,000 p.a
12 Pay: Rs.36,000 p.a
No limit
Premium Payment ModeAnnually/ half-yearly/ quarterly/ monthly
Basic Sum AssuredEqual to annualized premium x basic sum assured multiple

6. Tata AIA Money-Back Plus Plan

Money-Back Plus is an endowment assurance plan being offered by Tata AIA Life insurance company. It is an investment cum protection insurance plan. It is a non-linked & participating plan and is one among the best plans to make investment and fulfil your dreams. You can avail following benefits under the plan:

Benefits

  • You get the survival payouts. Survival payouts are up to 130% of the assured sum. It is provided throughout the term at regular intervals.
  • The plan provides inbuilt accidental benefit. This provides you with additional protection in case of accidental death.
  • You only need to pay the premium for a limited premium term, it is for half of the policy term.
  • You get a lump-sum maturity addition.
  • The plan comes with the tax benefit option under section 80C and 10(10D) of the Income Tax Act, 1961.

Eligibility

CriteriaDetails
MinimumMaximum
Entry Age2 Years51 Years
Maturity Age18 Years75 Years
Payment ModeAnnual/semi-annual/monthly
Basic Sum AssuredRs.2,00,000No limit

7. Tata AIA MahaLife Gold Plan

The plan is a participating whole life insurance plan. Tata AIA MahaLife Gold Plan lets you enjoy a lifelong coverage. Meanwhile, you pay premiums only for 15 years and get coverage until you are 85 years old. The plan comes with excellent benefits for its policy buyers. The benefits of the plan are:

Benefits

  • You get a regular income for a longer period.
  • Guaranteed annual coupons are proved under the plan. It is provided starting from the 10th policy anniversary until the maturity date.
  • TYou also get a lump-sum amount on maturity and it is in addition to the regular income.
  • The plan provides non-guaranteed cash dividends.
  • The cash dividends are provided annually from the sixth policy anniversary until the maturity of the policy.
  • Tax exemption benefits can be enjoyed under the plan.

Eligibility

CriteriaDetails
MinimumMaximum
Entry Age0 Years (30 days)55 Years
Maturity AgeNot mentioned85 Years
Basic Sum AssuredRs.2,00,000No limit
Premium Payment Term15 Years
Policy Term85 Years minus entry age
Payment ModeAnnual/ semi-annual/ monthly

8. Tata AIA POS Smart Income Plus Plan

Tata AIA POS Smart is a life insurance cum investment plan. It is non-linked and non-participating in nature. This Tata AIA investment plan believes in protecting your dreams. The guaranteed payouts under the plan help you achieve all your goals. There are two plan options available under the plan. The plan options are:

Plan Options:

  • Regular Income Benefit
  • Endowment Benefit

Benefits

  • You get the flexibility to choose between plan options, Regular Income Benefit and Endowment Benefit.
  • You just need to pay premiums for 7 years and you get cover for 15 years.
  • A special benefit under the plan is, the policy buyer does not need to undergo pre-insurance medical screening tests.
  • Female policyholders between age 11 years to 50 years get a higher benefit.
  • You can avail tax benefit under the plan according to section 80C and 10(10D) of Income Tax Act, 1961.
  • You get guaranteed payout of (120% of the annualised premium) under the Regular Income Benefit option.

Eligibility

CriteriaDetails
MinimumMaximum
Entry Age3 Years50 Years
Maturity Age18 Years65 Years
PremiumFor option I: Rs.18,000
For option II: Rs.36,000
Rs.90,000 for both the options
Premium Payment Term7 Years
Policy Term15 Years
Basic Sum Assured11 Times of the annualised premium
Premium Payment ModeAnnual/ half-yearly/ quarterly/ monthly

9. Tata AIA MahaLife Supreme Plan

Our living standard upgrade with time and so do our financial needs. This non-linked and non-participating endowment assurance plan can help you fulfil all your long term financial needs with ease. The plan provides you with an option to pay premiums for a limited period of either 12 years or 15 years and cherish guaranteed annual income for 18 years to 20 years respectively. Here are a few of the benefits provided under the plan:

Benefits

  • You get guaranteed annual income for a limited premium payment.
  • The plans bring to you a regular inflow of funds.
  • You can avail rider facility under the plan and enhance your coverage.
  • Tax benefits are provided under the plan as per Income Tax Laws.
  • A percentage of the sum assured is provided in the form of lump-sum amount on maturity of the policy term.

Eligibility

Plan OptionsOption AOption A
MinimumMaximumMinimumMaximum
Entry Age18 Years50 Years18 Years50 Years
Maturity AgeNot mentioned85 YearsNot mentioned80 Years
Policy Term35 Years30 Years
Basic Sum Assured10 Times of the annualized premium10 Times of the annualized premium
Premium Payment Term12 Years15 Years
Annual PremiumRs.15,000Rs.20,000

10. Tata AIA Fortune Guarantee Plan

Tata AIA Fortune Guarantee Plan is a non-linked endowment assurance plan. It is non-participating in nature. The guaranteed maturity benefit and death benefit provided under the plan helps you and your family meet all financial obligations of life. The coverage provided under the plan consists of the best services in comparison to other insurance companies. Here are a few of the benefits of the plan mentioned below:

Benefits

  • Guaranteed maturity benefit is provided under the plan.
  • You get flexible premium payment terms and policy terms.
  • Rider facility is available under the plan.
  • The tax benefits can be availed under section 80C and 10(10D) of the Income Tax Act, 1961.
  • The plan provides higher benefits to female policy buyers.

Eligibility

CriteriaDetails
Policy TermMinimum Entry AgeMaximum Entry AgeMaturity age
Minimum/ Maximum Entry Age/ Maturity Age8 Years65 Years75 Years
11 Years7 Years65 Years76 Years
12 Years6 Years65 Years77 Years
15 Years3 Years65 Years80 Years
20 Years30 Days60 Years80 Years
21 Years30 Days59 Years80 Years
Policy Term/ Premium Payment TermPolicy Term Premium Payment Term
10 Years/ 11 Years/ 12 Years/ 15 Years5 Years
20 Years & 21 Years10 Years
Basic Sum Assured10 times of the annualized premium
Premium ModeAnnual/ semi-annual/ quarterly/ monthly

11. Tata AIA Insta Wealth Plan

It is a non-linked endowment assurance plan & is participating in nature. The plan provides guaranteed additions, maturity benefit and death benefits. The nominee can claim the death benefit in case of death of the insured. The death benefit is the highest of :

  • 10 times annualised premium.
  • Basic sum assured on death.

Benefits

  • The plan provides hassle-free insurance coverage.
  • You do not need to give any financial or medical underwriting at the time of buying the plan.
  • After the completion of the premium payment term, guaranteed additions are provided every year.
  • Your savings get enhanced after the addition of compounded bonus and terminal bonus.
  • The tax benefit option is available under the plan.
  • You can enhance your coverage through the rider facility provided under the plan.
  • You can get your lapsed policy revived within two consecutive years from the date of last paid policy premium.

Eligibility

CriteriaDetails
MinimumMaximum
Entry Age30 Days45 Years
Maturity Age18 Years65 Years
Basic Sum AssuredRs.1 lakhRs.20 lakhs
Policy Term10 Years
15 Years
20 Years
Premium Payment Term7 Years
10 Years
15 Years

12. Tata AIA Smart 7 Plan

Savings and investments are as necessary for life as protection. So, you should opt for this protection cum investment plan. Tata AIA Smart 7 Plan is a non-linked and participating endowment assurance plan. The plan provides you with short-term premium payment and maturity. Here are a few of the benefits of the plan mentioned:

Benefits

  • The insured just needs to pay premiums for 7 years duration and can get the coverage benefits.
  • You get a lump-sum amount on the maturity of the policy.
  • The protection can be enhanced with the help of the rider.
  • You get life protection during the entire policy term.
  • Tax benefits are available under the plan according to section 80C and 10(10D) of the Income Tax Act, 1961.

Eligibility

CriteriaDetails
MinimumMaximum
Entry Age6 Years55 Years
Maturity ageNot mentioned67 Years
Basic Sum AssuredRs.2 lakhsNo limit
Policy Term12 Years
Premium Payment Term7 Years
Premium Payment ModeAnnual/ semi-annual/ quarterly/ monthly

13. Tata AIA Smart Growth Plus Plan

Daily life requirement never has an end, rather it grows with the passing time. So, plans like Tata AIA Smart Growth Plus can help you out in managing your finances. Be it your child’s higher education, buying a new car or planning your children’s marriage, this plan can prove beneficial to you. The plan provides excellent coverage and hassle-free claim under Tata AIA Life Insurance Company. There are two options under the plan.

Plan Option:

  • Endowment option
  • Endowment with inbuilt Accidental Death Benefit

Benefits

  • You will get guaranteed additions of 5.5% p.a of the sum assured. It is provided only during the first five years.
  • YIn case of accidental death, the plan provides a double sum assured to the nominee.
  • You can cherish the growth of the corpus. Compounded reversionary bonus and terminal bonuses (if any) are provided under the plan.
  • The tax benefit facility is available under the plan according to section 80C and 10(10D) of the Income Tax Act, 1961.

Eligibility

CriteriaDetails
MinimumMaximum
Entry AgeOption 1: 30 days
Option 2: 18 years
50 Years
Maturity AgeNot mentioned65 Years
Policy Term10 Years - 30 Years
Premium Payment TermSame as the policy term

14. Tata AIA MahaLife Magic Plan

The plan is a participating endowment assurance plan. It is also a limited premium paying life insurance cum investment plan. Tata AIA MahaLife Magic is a unique savings plan which helps you meet up all your future life goals. The benefits of the plan are mentioned below.

Benefits

  • You can receive a lump-sum amount on maturity by just paying premiums for 9 years.
  • The plan protects against life uncertainties during the term of the policy.
  • Riders facilities are available under the plan which can enhance your coverage. It might result in a rise in the premium amount.
  • The premiums paid under the plan are tax-free. The death benefits, maturity benefits and other bonuses provided under the plan are also tax-free as per section 10(10D) of the Income Tax Act, 1961.

Eligibility

CriteriaDetails
MinimumMaximum
Entry Age12 Years55 Years
Maturity ageNot mentioned73 Years
Basic Sum AssuredRs.2 lakhsNo limit
Policy Term18 Years
Premium Payment ModeAnnual/ semi-annual/ monthly

15. Tata AIA Money Maxima Plan

The plan is a regular premium paying life insurance cum savings plan. It is an endowment assurance plan. The plan is non-linked and participating in nature. The plan helps meet all the short-term and long-term goals of you and your family. You get a host of guaranteed payouts and bonuses returns which boosts every rupee invested by you.

Benefits

  • The nominee mentioned in the policy document gets death benefits in case of policyholder’s death.
  • Guaranteed loyalty additions are provided under the plan.
  • The plan offers flexible policy terms.
  • Accrued bonuses are provided under the plan.
  • Rider facilities are available under this plan.
  • You can avail the tax benefits on the premiums paid under the plan. The maturity benefits and death benefits provided under the plan are also tax-free.

Eligibility

CriteriaDetails
MinimumMaximum
Entry Age12 Years50 Years
Maturity ageNot mentioned75 Years
Basic Sum AssuredRs.1 lakhsNo limit
Policy Term12 Years - 30 Years
Annual PremiumRs.12,000
Premium Payment TermSame as the policy term
Premium Payment ModeAnnual/ semi-annual/ quarterly/ monthly

Tata AIA Life Investment Plan Riders

Riders provide add-on coverage to the insured. Riders are essential while you are planning to buy a base life insurance cum investment plan. Here are mentioned the riders offered under Tata AIA Life Investment Plans.

  1. Tata AIA Life Insurance Term Rider : In the case of death, the nominee gets the following benefits under the rider:-

    Option 1: Death benefit equal to the sum assured on death.

    Option 2: An amount equal to (1/120) times of the sum assured on death. This is provided every month for a fixed time duration of 10 years. The duration starts from the subsequent monthly death anniversary.

  2. Accidental Death & Dismemberment Rider : This rider is beneficial in the case of accidental death.
  3. Waiver of Premium Plus Rider : As the name suggests, this rider provides a waiver on all the future premiums to be paid in the case of permanent or total disability due to an accident.

Tata AIA Life Investment Plans: Exclusion

Suicide is a common exclusion to all the investments plans offered under Tata AIA Life Insurance. The claim process in suicidal cases varies for each plan. For further details, you can refer to the particular plan brochure.

Tata AIA Life Investment Plans: FAQs

Under the Tata AIA Diamond Savings Plan, the insured gets a bonus which is declared by the insurance company. It is provided at the end of each financial year. The reversionary bonus provided can be a percentage of the sum assured and it may also get compounded annually as per the terms and conditions mentioned in the policy.

A percentage of the total premium paid is provided as a guaranteed maturity benefit. It varies from 114% to 275% of the total premium paid.

The policy premium payment term under Tata AIA Life MahaLife Magic Plan is for 9 years.

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Last updated on 23-06-2020