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Tata AIA Life Insurance Company Limited (Tata AIA Life) is a joint venture company, formed by Tata Sons Ltd. and AIA Group Ltd. (AIA).
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 has written retail new business weighted premium of INR 1,048 crores for the financial year ending March 2017. As of March 31, 2017, the 13th-month persistency of the company was at 82.20%. For the same period, the retail claims settlement ratio of the company was 96.01%.
Awards2016 Golden Peacock Award - Tata AIA Life wins the Golden Peacock Award for Risk Management
2017 Aon Best Employer Award- Awarded the prestigious AON Best Employer’s Award for two years in a row.
TATA AIA Insurance caters into different insurance sections such as investment, pension, child, term insurance etc.
Life insurance is a domain that offers complete security for future and different options of investment as well. With an effective life insurance policy, you can stay secure also. An effective life insurance policy ensures the family members or dependents of the insured person continues to have financial security after the retirement, demise or because of any disability. There are different types of policies available that cater to different needs of an insured person. There are several needs that a common man faces and wants to have a financial cover for the same. For such kind of requirements life insurance divides itself into different sections such as
• Pure life cover
• Financial investment planning and
• Saving planning
• Retirement planning
• Child education plan
There are several companies in India that cater to life insurance, and TATA AIA is one of the leading life insurance company. Basically, it caters to almost every section of life insurance industry, whether it is investment plans, child plans, term plan or any other. You will get best products here with assured benefits. It is an effective insurance company with experience of many years in the same domain. It is a trustworthy option for all who are looking for a reliable life insurance plan.
By choosing TATA AIA Life Insurance, you will get several benefits and there are some reason to choose this company rather than others
• Affordable products: TATA AIA Life insurance offer a wide range of life insurance products that can cater to your different needs and that too at an affordable price.
• Easy Claim settlement process: The company carries a good claim settlement ratio, that means it is reliable to buy a plan from this company. The entire process of claim settlement with this company is easier. It will help you in getting the claim at the right time when you need it.
• Additional benefits: Like other companies, TATA AIA life insurance offers several additional benefits in the form of tax benefits, discounts and much more. With it, you will be able to save a lot of money.
• Quality service: The company offers quality service. The helpful customer support team of this company will be there to support you whenever you need it. It will help you, guide you and also provide needful information that you must have before buying your policy.
Term plans or protection plans are typically affordable insurance plans that provide full protection and financial stability to your loved ones in case of any unforeseen events.
Tata AIA Life Insurance SampoornaRakshaA pure term insurance plan that provides financial protection to your family and offers you the flexibility to choose the plan that suits your need. You may opt to receive either a Lump Sum benefit on Death or Lump Sum benefit on Death and Monthly Income for next 10 years while also enjoying the flexibility to enhance your life cover.
Tata AIA Life Insurance SampoornaRaksha+A plan that not only protects you from uncertainties of life but also gives you return of premiums paid on survival till maturity of the Policy.
Tata AIA Life Insurance iRaksha TropTata AIA Life Insurance iRaksha TROP is a non-linked non-participating online term plan which not only will ensure peace of mind due to thefinancial protection provided to your family during the term of the policy but also return the Total Premiums Paid1 at the end of the policy term.
Tata AIA Life Insurance iRaksha SupremeTata AIA Life Insurance iRaksha Supreme is a non-linked non participating, term insurance plan. It's designed to be your online pure term solution of choice that will ensure your peace of mind at a very attractive and easily affordable price.
Tata AIA Life Insurance MahaRaksha SupremeTata AIA Life Insurance MahaRaksha Supreme, a non-linked, non-participating Term Insurance plan, offers you a wide range of choices to fulfill your family's specific needs of financial protection.
Wealth Insurance plan offers the right balance between investment & wealth accumulation to secure your family and fulfill your future goals.
Tata AIA Life Insurance Invest OneThe linked insurance products do not offer any liquidity during the first five years of the contract. the policyholder will not be able to surrender/withdraw the monies invested in linked insurance products completely or partially till the end of the fifth year.
Tata AIA Life Insurance Fortune MaximaUnder this plan, you have to pay thepremium once or for a limited period and get Insurance protection for your entire life. It also comes out with regular Loyalty Additions which are credited to the policy to boost your investments.
Tata AIA Life Insurance Fortune ProA non-participating unit linked endowment assurance plan that asks you to pay premiums once or for a limited period and get Insurance protection throughout the policy term along with the choice of enhanced systematic money allocation & regular transfer investment portfolio strategy.
Tata AIA Life Insurance Wealth MaximaA non-participating Unit Linkedwhole of life plan along with the option to customize your plan with three additional unit deducting riders. You will also get the top-up facility to further augment your portfolio.
Tata AIA Life Insurance Wealth ProA non-participating unit linked endowment assurance plan under which settlement option is provided on maturity, thus enabling you to receive the maturity amount either in alump sum or in installments over a period of time. The flexibility of Partial Withdrawals after five policy years to meet your financial needs.
Savings Insurance Plans allow you to enjoy the benefits of a long-term savings and helps you to save money.
Tata AIA Life Insurance Diamond Savings PlanTata AIA Life Insurance Diamond Savings Plan, a limited pay insurance plan that meets tomorrow's requirements along with protecting your loved ones. Investing in this plan will help you fulfill your medium and long-term goals, such as child’s education / second income and retirement planning.
Tata AIA Life Insurance Gold Income PlanThis plan not only offers guaranteed lump sum benefit on maturity but also gives guaranteed income during the income term that increases every year.
Tata AIA Life Insurance Smart Income PlusInvestment in this plan helps you fulfill your medium to long-term goals such as Child’s Education/ Marriage / Business Start-up and Retirement planning.
Tata AIA Life Insurance Monthly Insurance Plan(MIP)Tata AIA Life Insurance Monthly Insurance Plan (MIP), a plan that helps you save monthly for a limited period to create abig corpus for your future needs.
Tata AIA Life Insurance Secure 7Tata AIA Life Insurance Secure 7, a limited premium paying Non-Linked Non-Participating Endowment Assurance Plan that meets tomorrow's requirements along with protecting your future, loved ones and dreams as it ensures you of guaranteed returns for the money invested.
Tata AIA Life Insurance MahaLife SupremeTata AIA Life Insurance MahaLife Supreme, a Limited Premium Paying Non-Linked Non-Participating Endowment Assurance Plan that enables you to plan both your savings outflow and the required regular annual income inflow along with the all-important benefits of life insurance protection.
Tata AIA Life Insurance Fortune GuaranteeTata AIA Life Insurance Fortune Guarantee which is a Limited premium paying Non-LinkedNon-Participating Endowment Assurance plan that offers you benefits of a savings product and protection for your family in case something unfortunate were to happen.
Tata AIA Life Insurance Insta Wealth PlanTata AIA Life Insurance Insta Wealth plan, a simple non-linked endowment assurance plan which is easy to understand and easy to buy. A plan which offers you the security of life insurance without the hassle of going through tedious medical tests.
Tata AIA Life Insurance Money Back PlusIt is a participating non-linked money back Insurance plan, which caters to your need of periodic payouts at key stages in life along with life cover protection. This plan gives you the flexibility to choose from various term options to meet your financial commitments with the advantage of paying for only half the term along with enhanced savings with Bonuses throughout the term.
Tata AIA Life Insurance Smart 7Tata AIA Life Insurance Smart 7, is a limited premium paying non-linked participating endowment assurance plan that helps to simplify your future planning and investments.
Tata AIA Life Insurance Smart Growth PlusTata AIA Life insurance Smart Growth Plus - is a Non Linked with profit Endowment assurance plan that offers you the flexibility to choose from a wide range of policy terms which can be tailored to suit your medium term as well as long-term needs.
Tata AIA Life Insurance MahaLife Gold PlusTata AIA Life Insurance MahaLife Gold Plus – A limited premium paying, thenon-linked participating whole of life plan up to age 85. It's a short-term investment plan that offers best returns for a longer period.
Tata AIA Life Insurance MahaLife GoldTata AIA Life Insurance MahaLife Gold provides a complete solution by ensuring that one creates a legacy for three generations through annual returns and bonuses till 85 years of age.
Tata AIA Life Insurance MahaLife MagicTata AIA Life Insurance MahaLife Magic, a limited premium paying non-linked participating endowment assurance plan. This is a unique saving plan in which you pay for a short period and stand to gain by maximizing the growth of your money.
Tata AIA Life Insurance Money MaximaThis plan gives you freedom offers a host of bonuses and guaranteed benefits which maximizes returns for every rupee invested, so that you can maximize your life needs without apprehensions of the future.
Child plans are insurance cum investment plans that help an individual create a corpus for children's future, over a period of time (policy term).
Tata AIA Life Insurance Super AchieverTata AIA Life Insurance Super Achiever a non-participating unit linked child endowment plan wherein the policy benefits continue even in case of any unfortunate demise of the life insured (parent).
Tata AIA Life Insurance Good KidTata AIA Life Insurance Good Kid will help you move on with the growing needs of your child with Money Back Benefits and Milestone Additions when it's exactly required; besides protecting your family from uncertainties. Invest today in this good plan to keep your kid's future good.
A pension is a fund into which a sum of money is added during an employee's employment years, and from which payments are drawn to support the person's retirement from work in the form of periodic payments.
Tata AIA Life Insurance FreedomTata AIA Life Insurance Freedom, a Non - Linked Participating Endowment plan which will enable you to find a balance in your financial portfolio just as you would create a balance in your life's portfolio. This plan provides you Guaranteed Additions to enhance your retirement corpus.
Health Insurance is an insurance that covers you and your loved ones at the time of medical emergencies by paying for the expenses incurred during the treatment.
Tata AIA Life Insurance Vital Care ProThe plan not only offers you the flexibility to choose from a lump sum benefit or lump sum plus regular income benefit while covering 15 critical illnesses but also provides you with the floater option to cover your spouse at the same time.
A group health insurance plan is an insurance plan that provides healthcare coverage to a select group of people. Group health insurance plans are one of the major benefits offered by many employers. These plans are generally uniform in nature, offering the same benefits to all employees or members of the group.
Tata AIA Life Insurance Group Loan ProtectThe plan provides comprehensive Insurance cover to the borrowers of the institution and offers to pay off the loan outstanding in the event of thedeath of the Insured borrower.
Tata AIA Life Insurance Group Total SurakshaTata AIA Life Insurance Group Total Suraksha helps us to ensure financial support to your family against such unfortunate loss. The product is offered to groups with a minimum group size of 50 eligible members.
Tata AIA Life Insurance Group Term LifeTata AIA Life Insurance Group Term Life, a non-linked non-participating yearly renewable group term product, allows you to plan ahead and secure the future of our loved ones.
Tata AIA Life Insurance Group Immediate Annuity with Return of Purchase PriceTata AIA Life Insurance Group Immediate Annuity with Return of Purchase Price plan, the ideal solution to convert your employee's corpus to regular income.
The product aims to provide financial security to families of anunorganized group or affinity group members in case of need.
Tata AIA Life Insurance POS SaatSaathTata AIA Life Insurance POS - SaatSaathmicroinsurance product offers dual benefit of savings and protection. It is a non-linked non-participating endowment insurance plan with return of a pre-specified percentage of "total premiums paid" at maturity on survival.
Tata AIA Life Insurance SaatSaathIt is a Non-linked, Non-participating Endowment Micro Insurance Plan with thereturn of a pre-specified percentage of "Total Premiums Paid" at maturity. This plan not only provides you with life cover but also ensures returns at maturity. You pay apremium for 7 years and get life cover for 10 years!
Claim settlement refers to be the important stage of a policy where the insured or beneficiary receives the benefits of their investment. The process of filing claim varies from insurer to insurer. It has also been the most important feature that usually people look for at the time of purchase. There is no doubt in saying that choosing the insurer which offers trouble-free and easy claim filing and settlement process would be high in demand. Everyone looks for an insurance company which is trustworthy and offer simple claim filing process and TATA AIA Life insurance company is one of them. This effective insurance company has experience of many years in the industry of life insurance. It is offering the best and easiest claim settlement procedure which will surely help you and your family in the future. If you search online you would come to know that this insurance company carries a good claim settlement ratio as well, that means you can completely trust it for your life insurance requirements. TATA AIAI Life Insurance Company is one of the best organizations that you can easily go for.
You must be having several doubts regarding the process of filing the claim and its related things as well. Before filing the claim you must make sure that you have all the documents ready with you. Here is a short description of the needful documents that you require for filing claim.
The death certificate (In case of death)
Original policy documents
ID proof of the beneficiary
Age proof of insured
Discharge form (executed and witnessed)
Medical certificate (as proof for cause of death)
Police FIR (in case of unnatural death)
Japanese insurance company Nippon Life Insurance, Tata AIA and Aviva Life were among the 15 companies whose foreign direct investment proposals totalling Rs 7,262 crore have been permitted by the FIPB.
Moreover, the proposal of YES Bank to raise the foreign investment limit to 74 per cent from existing 41.87 percent without any limits has been referred to the Cabinet Committee on Economic Affairs (CCEA).
As per the recommendations of the Foreign Investment Promotion Board (FIPB) during a meeting that was held on March 7, the government has permitted 15 FDI proposals involving Rs 7,261.6 crore and suggested one application for approval of CCEA involving FDI of Rs 6,885 crore, a Finance Ministry statement said.
The Board also permitted the offer of Taurus Ventures for issuance of shares to the shareholders of Max India pursuant to a demerger of Max India Ltd. The offer of Nippon Life to hike stake in Reliance Life Insurance from 26 percent to 49 percent for Rs 2,265 crore was permitted by the board.
Also, Tata AIA Life Insurance Company’s proposal to raise AIA International’s stake from 26 percent to 49 percent that is around Rs 2,055 crore was also cleared by the board.
Wednesday March 23, 2016
On Wednesday, 8th Nov 2017, the Insurance Regulatory And Development Authority Of India (IRDA) said that the linking of Aadhar number with insurance plans is compulsory and asked insurance companies to implement the statutory norms.
“The Authority clarifies that, linkage of Aadhaar number to insurance policies is mandatory under the Prevention of Money Laundering (Maintenance of Records) Second Amendment Rules, 2017,” the IRDA said.
In the last June, the government of India had informed about the Prevention of Money Laundering (Maintenance of Records) Second Amendment Rules, 2017, making Aaadhar and PAN/Form 60 compulsory for getting financial services that include insurance also and asked policyholders and companies for linking the existing policies with the same.
In a discussion with all life and general insurance companies, IRDA said the rules have “statutory force” and they have to implement the rule without waiting for the further instructions.
Right now, there are 24 life insurers and 33 general insurance companies operating in the country.
Although, there are no deadlines that have been given by IRDA for the completion of the process, as per the circular, it has to be done as soon as possible. Some insurance companies also said that this can also result in the delay of payout in a few cases. Aadhaar is now also compulsory for financial transactions of Rs 50,000 and above. Likewise, one has to link one’s Aadhaar number with the mobile number latest by February 6, 2018.
Monday November 13, 2017
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