TATA AIA Life Insurance

About TATA AIA Life Insurance

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 74%, 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.

Key Features of TATA AIA Life Insurance Company

With a plethora of life insurance companies available, choosing the ideal one for you can be a tough choice. Thus, to be sure of your decision, it is advisable to check the company’s performance beforehand to avoid any stress at the time of claim settlement.

We at PolicyX.com have analyzed TATA Life Insurance on certain parameters such as claim settlement ratio, solvency ratio etc. 

Insurance Plans offered by TATA AIA Life Insurance

Catering to the insurance needs of every individual, TATA AIA offers several life insurance plans. In the table given below, we've provided a list of all the plan variants available under TATA AIA Life Insurance Company. Let's take a look.

1. Tata AIA Term Plan

   Term Plans are traditional life insurance policies that offer financial support and stability to your family in case of any eventuality. Below is the list of such plans for your reference:

   Plan Name	Entry Age	Maximum Maturity Age	Minimum Sum Assured
   Sampoorna Raksha Supreme	18-65 years	100 years	Rs. 1,00,000
   Saral Jeevan Bima	18-65 years	70 years	Rs. 5,000,000
   InstaProtect Solution	18-45 years	75 years	Rs. 25,00,000
   Maha Raksha Supreme	18-60 years	For Non-Whole Life: 85 years For Whole Life: 100 years	Rs. 5,000,000

   Know More About: Tata AIA Term Plan





2. Tata AIA ULIP Plans

   ULIP plans offer the right balance between investment & wealth accumulation to secure your family and fulfill your future goals. TATA AIA Life Insurance offers a wide range of ULIP Plans which are mentioned below.

   Plan Name	Issue Age	Maximum Maturity Age	Policy Term
   Wealth Pro	30 days-59 years	75 years	15-40 years
   Fortune Maxima	30 days-60 years	100 years	100 minus the issue age
   Fortune Pro	30 days-59 years	75 years	15-40 years
   Wealth Maxima	30 days-60 years	100 years	100 minus the issue age
   Smart Sampoorna Raksha	18-60 years	100 years	30 and 40 years

3. Tata AIA Savings Plans

   Savings Insurance Plans allow you to build a corpus along with a life insurance cover. The plan offers multiple savings opportunities to assist you in case of any eventuality. Below is the list of all TATA AIA Life Insurance Plans for your perusal.

   Plan Name	Entry Age	Maximum Maturity Age	Sum Assured
   Diamond Savings Plan	0-60 years	NA	11 times the Annualized Premium
   Gold Income Plan	3-65 years	77 years	Annualized Premium x Basic Sum Assured Multiple
   Smart Income Plus	0-50 years	68 years	11 times the Annualized Premium
   Money Back Plus	30 days-51 years	75 years	Rs. 2,00,000 (in multiples of 1000)
   Fortune Guarantee	30 days-70 years	80 years	10 times Annualized Premium
   Fortune Guarantee Plus	1-60 years	77 years	Rs. 50,000
   MahaLife Gold	30 days-60 years	85 years OR 100 years	Rs. 1,00,000
   Guaranteed Monthly Income Plan	6-60 years	68 years*	11 times the Annualized Premium
   Smart Value Income Plan	30 days-65 years	100 years	Death Benet Multiple of 10 times Single Premium Death Benet Multiple based on entry age
   Value Income Plan	30 days-58 years	80 years	NA
   POS Smart Income Plus	3-50 years	65 years	11 times the Annualized Premium
   Guaranteed Return Life Insurance Plan	0-65 years	85 years	Death benefit multiple x Annualized premium

4. TATA AIA Retirement Plans

   Retirement Plans or pension plans are forms of life insurance plans, which are specifically designed to meet your post-retirement requirements like medical and living expenses. The plan ensures that you enjoy your golden years with financial independence. Below are the details of the plan. 

   Plan Name	Entry Age	Maximum Maturity Age	Sum Assured
   Guaranteed Monthly Income Plan	6-60 years	68 years	11 times the Annualized Premium
   Smart Annuity Plan	45-85 years	NA	NA
   Fortune Guarantee Pension Plan	30-85 years	NA	NA

Riders Available Under TATA AIA Life Insurance

Riders allow the customer to enhance the basic policy cover by paying an additional nominal premium. Below is the list of all such riders that are available under TATA AIA Life Insurance Plans:

Traditional Riders

• Tata AIA Life Insurance Waiver of Premium Plus (WOPP) Rider
• Tata AIA Life Insurance Non-Linked Comprehensive Protection Rider
• Tata AIA Life Insurance Non-Linked Comprehensive Health Rider
• Tata AIA Life Insurance Accidental Death and Dismemberment (Long Scale) (ADDL) Rider

ULIP Riders

• Tata AIA Life Insurance Waiver of Premium Plus (Linked) Rider
• Tata AIA Life Insurance Waiver of Premium (Linked) Rider
• Tata AIA Life Insurance Linked Comprehensive Protection Rider
• Tata AIA Life Insurance Accidental Death and Dismemberment (Long Scale) (ADDL) Linked Rider
• Tata AIA Life Insurance Linked Comprehensive Health Rider

How To Buy TATA AIA Life Insurance Plans?

The company sells two of its life insurance plans online and customers can easily purchase them from the company's website. These plans are Maha Raksha Supreme Plan and Sampoorna Raksha+ plan. The rest of the life insurance plans can be purchased by visiting the nearest branch of TATA AIA company.

In addition to this, TATA AIA Life Insurance plans can also be purchased from third-party intermediaries like insurance brokers or agents.

For your convenience, we've provided here the steps of buying the plans from the company website.

What Is The Claim Process of TATA AIA Life Insurance Company?

You can file the claim through two different modes- Online claim process and Offline claim process. Let's discuss both in detail.

Online Process

• Visit the official website of the "TATA AIA Life Insurance".
• Take your cursor to the tab "Claims".
• Select "Claim Process".

Now, the claim process is divided into three steps, which are mentioned below:

• Claim Intimation
  • Scroll down to the online claim intimation section.
  • Fill the form with basic details such as policy no., claim reason, name of policyholders, and address among others.
  • Don't forget to upload documents before submitting the form.
• Assessment
  Once you submit the documents, the company will further examine and assess the same. They can ask for additional documents (if required).
• Claim Decision & Payout
  In case of approval, the company will communicate with you through a phone call, email, or letter and the payment will be transferred to the registered account.

Offline Claim Process

To file a claim through the offline process, you have to visit the nearest branch of TATA AIA Life Insurance Company, ask the representative for the claim form and submit it with the required documents.

Or else you can also directly write to the company at the registered address of the company.

How to Contact TATA AIA Life Insurance Company?