Tata AIA Smart Value Income Plan

Overview

To save more, invest smartly with the Tata AIA Smart Value Income Plan.

The Tata AIA Smart Value Income Plan, from Tata AIA Life Insurance, is a guaranteed savings plan that helps you build wealth with multiple return options. Under various premium payment terms, you can choose between a whole life cover of up to 100 years or a limited period of 10 to 50 years. The plan offers the flexibility to choose from the following two plan options:

• Cash Bonus: This option allows you to receive a regular cash bonus (if declared) from the first month.
• Accumulated Cash Bonus: This option collects the cash bonus (if declared) till the end of the policy term and is payable in a lump sum at maturity.

You can choose to receive a cash bonus in hand or in a Sub-Wallet and withdraw the bonus fully or partially from the wallet at any time. Additionally, at policy inception, you will have the option to choose the cash bonus on a "Special date" under Option 1 'Paid-in Cash' mode. The plan also allows you to stay protected against risk with additional financial support by adding optional riders to your base policy.

Tata AIA Smart Value Income Plan offers a range of benefits including:

• Death benefits
• Maturity benefits
• Guaranteed additions
• Cash bonuses
• Survival benefits

How to Buy the Tata AIA Smart Value Income Plan on PolicyX.com

1. Visit the official website of PolicyX.com.
2. Click on the 'Investment' tab.
3. A new page will appear on the screen.
4. Fill out the form at the top of the page with the necessary details.
5. Select your income and city. Click on 'Proceed'.
6. Update your education and occupation details.
7. Choose your preferred plan and click on 'Buy this plan'.
8. Select the policy term, premium period, investment amount, and riders (if required), and then proceed to pay.

Benefits of the Tata AIA Smart Value Income Plan

There are various benefits to buying the Tata AIA Smart Value Income Plan. Let's understand each of them in detail:

Life Protect Feature

With the Life Protect feature, you can restore the sum assured amount of the death benefit on a reduced paid-up policy if unemployment or loss of income hampers your premium payments towards the policy.

Special Date

In this feature, you can select a special date to receive a cash bonus. However, the Special Date feature can only be availed under Option 1, 'Paid-in Cash' mode. The special date can be any date, such as the spouse's birthday, parent's anniversary, child's birthday, 15th day of every month, etc.

Surrender Benefit

Policy surrender is not advisable, but if you have to surrender your Tata AIA Smart Value Income Plan, you can do so once your policy acquires surrender value. Under a Single Pay, the policy will acquire surrender value immediately upon payment of the single premium. Under the Regular or Limited Pay policy, surrender value will be acquired by paying a two-year premium.

Reduced Paid-Up

If you fail to pay the premium payment after the policy acquires a surrender value, the policy will continue as a 'paid-up' policy with reduced benefits. You even have a choice to opt for the 'Life Protect' option as described above.

Key Features

Premium Offset

The plan offers premium offset features, which allow you to use a cash bonus to pay the policy premiums.

Partial Cash Bonus

Under this plan, you can withdraw the full or partial cash bonus amount from your Sub-Wallet at any time during the policy term.

Cash Bonus

The plan gives you the flexibility to choose a "Special date" to receive a cash bonus.

Whole Life Coverage

You have a choice between a whole life cover of up to 100 years or cover for a limited period of 10 to 50 years.

How to Buy the Tata AIA Smart Value Income Plan on Tata AIA Life Insurance Website

1. Visit the official website of Tata AIA Life Insurance.
2. Hover over 'Plans' from the top menu.
3. Click on the 'Tata AIA Smart Value Income Plan'.
4. Click on 'Buy Now' and you will be redirected to a new page.
5. Enter your name and contact information. One of their representatives will reach out to you and discuss the quotes.
6. Once discussed, you can make the premium payment and get the policy documents.

Exclusions

• Suicide within 12 months of the policy purchase is not covered.
• Consumption of any intoxicants.
• Death due to any aviation accident.
• Death due to any adventurous sports.

Documents Required

Here is the list of documents required to buy the Tata AIA Smart Value Income Plan:

• Photo ID Proof

  Any one of the following: Passport, Aadhaar card, PAN card, Driving license.

• Age Proof

  Any one of the following: Passport, Aadhaar card, PAN card, PAN card, Driving license.

• Address Proof

  Any one of the following: Utility bill, passport, Voter ID, ration card.

• Medical Records

  Medical records of the policyholder (if requested).

• Income Proof

  Any one of the following: Bank statement, last three months' salary slips (for salaried individuals).

Plan At a Glance

In a Nutshell

The Tata AIA Smart Value Income Plan from Tata AIA Life Insurance is a guaranteed savings plan that offers multiple return options and helps you build wealth. At just up to ₹24,000 per annum, you can secure your family's future and create wealth with multiple return options. To learn more about this plan's features, visit PolicyX.com.