Tata AIA Life Insurance
  • Life cover upto 100 years
  • Low premium for females
  • Optional riders
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Buy Policy in just 2 mins

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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 AIA Life Insurance ensures to look after your insurance needs by offering:

why-choose

  • Excellent claim support

  • Easy claim processing

  • Pocket-friendly premiums

  • Lifetime Payout

  • Tax benefits

 

Key highlights of Tata AIA Life Insurance

To get more insight into Tata AIA Life Insurance Company's performance, take a look at the below key highlights that will help you to analyze the company based on its performance:

Solvency Ratio

Tata AIA Life Insurance has a Solvency Ratio of 1.9. as per the IRDAI annual report 2022-23. The solvency ratio helps the prospective policyholder assess the ability of a company to meet its financial obligations. As of now, IRDAI mandates maintaining a solvency ratio of 1.50 for every insurer.

Features of Tata Life Insurance

There are various features to Tata Life Insurance, Lets understand each of them in detail:

  • Solvency Ratio - There is one more important factor that should be checked while buying a life insurance plan from an insurance company. This factor is the ‘solvency ratio' of the company. The ratio provides insights into the financial background of the company by measuring its ability to meet long-term debt obligations and other monetary commitments. As per IRDAI, all life insurance companies in India are obliged to maintain a solvency ratio of at least 1.5. At present, the solvency ratio of the company is 1.9.
  • Claim Settlement Ratio - The main objective of buying a life insurance plan is to make sure that your loved ones can get financial support at times when they need it the most. It is important to pay attention to the claim settlement ratio of the insurance provider. This ratio shows the percentage of claims settled by an insurance company against the number of claims filed by the customers during a financial year. In terms of the claim settlement ratio, the company recorded a CSR of 99.01% during the financial year 2022-23.
  • Annual Premiums - The business reputation and growth of the insurance provider should be checked. For this, we should check the company's annual premium as it helps in analyzing the company's growth in terms of its annual premium of Rs. 14,445.03 Crores in the financial year 2022-23.

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TATA AIA Life Insurance Review

TATA AIA Life Insurance Review

Benefits of Tata Life Insurance

There are multiple benefits of Tata Life Insurance. Read below to understand the plethora of advantages provided by the insurer.

Comprehensive Coverage

Tata AIA Life insurance plans list is long and all plans provide an overall coverage to meet various needs and suit various requirements.

Financial Security

The death benefit might be used to settle debts, make up for lost income, or fund schooling. Therefore, even after his passing, the policyholder's family will have financial security.

Flexibility and Customization

Tata life insurance plans are very flexible in nature, as the customer can easily make modifications to the plans according to his needs. The policyholder can add riders, addon benefits or even can customize policy sum and tenure.

Professional Guidance

By providing policyholders with access to 24-hour customer care, the company helps them. The expert teams help the customers to buy plans, settle claims and help them with their queries.

Tired of Pushy Sales? Get Insurance, Your Way Tired of Pushy Sales? Get Insurance, Your Way

Rider Benefits You Can Avail With Tata AIA Life Insurance Plans

Here are the rider options you can avail with Tata AIA Life Insurance Plans to enhance your coverage:

Maternity Benefit Rider

TATA AIA Waiver of Premium Rider

It will waive off all future premiums and the benefits of the policy will remain the same in case of disability, dismemberment, or diagnosis of critical illness.

Maternity Benefit Rider

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 the accident.

Maternity Benefit Rider

TATA AIA Accidental Disability Rider

This rider offers financial benefits in case the policyholder becomes partially or totally disabled due to an accident.

Documents Required to Purchase Tata AIA Life Insurance Policy

Here is the list of documents required to buy Tata AIA Life Insurance:

  • Regular Smoking
    Photo ID Proof
  • Your Occupation
    Age Proof
  • Pre-Existing Diseases
    Address Proof
  • Your Age
    Medical Records
  • Your Gender
    Income Proof
Photo ID Proof

Photo ID Proof (either of one) - Passport, Aadhar card, PAN card, Driving license.

How to Buy Tata AIA Life Insurance Plans?

Tata AIA Life Insurance allows you to buy life insurance plans via two platforms. You can either buy the plan online from the official website of the company or through third-party intermediaries like agents, brokers, etc. Given below is a detailed explanation of both these types of buying processes.

Life Insurance
  • Step 1

    Fill out the form given at the top of this page with the necessary details.

  • Step 2

    Select your income and city. Click on 'Proceed'.

  • Step 3

    Update your education and occupation details.

  • Step 4

    Choose your preferred plan and click on 'Buy this plan'.

  • Step 5

    Select the policy term, premium period, and riders (if required), and then proceed to make the payment. Once the payment is made, you will get a payment confirmation at your registered email address.

Life Insurance
  • Step 1

    Visit the Tata AIA Life Insurance official website and scroll down to the end of the page.

  • Step 2

    Click on the "Buy Online" tab under Popular Links.

  • Step 3

    Click on the tab 'Know More'under types of plan.

  • Step 4

    Click on the tab 'Calculate' at the top right corner of the page.

  • Step 5

    Fill in the required details, and click on the tab 'Calculate'. Once the payment is made, you will get a payment confirmation at your registered email address.

Why Choose PolicyX.com?

Don't just take our word for it - check out what our happy customers say about us!

All my claims were rejected for 3 years. Then, I received a text from PolicyX team, who noticed that my claims hadn't been settled. They managed to get my claims settled, totalling ₹4.5 L. I really appreciate the efforts of the PolicyX advisors for their support in settling my claims.

Ravindra Singh

I highly appreciate the help of the PolicyX team for settling my claim of Rs. 5 Lakhs with zero deductions. I took a policy online from them in March 2024. As a customer, it's been a great experience throughout the process.

Priti varshney

I'm very satisfied because my claim of over ₹2 L has been settled as a result of your team effort. However, I was very upset with the insurer, who delayed the claim for almost 2 months. But with your support and interaction, the claim was settled within 30 days & I appreciate it a lot.

Nisha Mary

I bought my health policy from PolicyX, and so far, it's been a very pleasant experience with the team. I really appreciate the help for renewing my health policy. I look forward to continuing my relationship with PolicyX and recommend it to everyone.

Ajay Shah

PolicyX has been a savior during a medical emergency in my family recently. My wife was admitted in the hospital, and the insurance company declined my claim request. The PolicyX team handled the situation very well and I received the claim right on time.

Vijay Rathod

I purchased a health plan for the very first time and the support by PolicyX is commendable. They helped me with the paperwork, explained the policy details to me with patience and supported me at every step of policy buying. A big thanks to you guys.

Uma Mahajan

How to File Tata Life Insurance?

Every claimant/nominee is assigned a dedicated Claims Relationship Officer who helps through the entire process. The life insurance claim Settlement process at Kotak Life Insurance involves the following three steps:

Online Process

Your Occupation
1

Claim Intimation

Inform the company about the incident via various channels-either by writing an email to Exide Life at claims@tataaia.com, calling the toll-free number (1800-103-7766), filling out the online claim form on its website, or visiting the nearest branch. A claim reference number/intimation number will be provided to you upon successful registration of the claim.

Your Occupation
2

Document Submission

You have to submit the necessary documents requested by the insurer to process the claim.

In case of natural death: death claim form, death certificate, original policy documents, claimant's identity & residence proof, medical records, and account details of the nominee.

In case of an accidental death: the same documents with two additional ones: FIR and post-mortem report.

Your Occupation
3

Claim Settlement

Once Tata AIA receives your claims they will verify all the details. Moreover, they can ask you for any additional documents if required. Tata AIA Life will send you a claim reference number after verifying the submitted documents.

Offline Process

Tata Life Insurance settlement procedure can be reported by visiting the local Branch Office. For the details of Tata Life Insurance, you can visit their website and locate the nearest branch. You have to submit the essential documents at the branch so that your claim can be processed.

Your Occupation

Exclusions of Tata Life Insurance

  • Death occurred due to pandemic such as covid-19 or ebola will not covered by the company.
  • Death, due to indulging in any type of adventure sports.
  • Death due to consumption of any type of drugs and alcohol.
  • Death due to any pre-existing disease that isn't mentioned during the start of the policy.
  • If a policyholder commits suicide during the first 12 months after obtaining the insurance, the nominee receives no death benefit. They receive just the premiums paid up to the date of the incident or the policy's surrender value, whichever is greater.If a policyholder commits suicide during the first 12 months after obtaining the insurance, the nominee receives no death payments. They receive just the premiums paid up to the date of the incident or the policy's surrender value, whichever is greater.

Conclusion

Tata Life Insurance is a strong contender for individuals looking for reliable life insurance solutions with a wide array of products, strong customer service, and flexibility. You can contact PolicyX.com at the toll-free number 1800-4200-269 or email us at helpdesk@policyx.com.

Life Insurance

More Queries?

If you have any more queries regarding Tata AIA Life Insurance Plans, Renewals, or Claim Procedures, contact our insurance experts at:
1800-4200-269 now!

Tata AIA Life Insurance: FAQs

1. What is the usual claim processing time for a Tata AIA Life Insurance policy?

For all insurance policies which are active for 3 consecutive years, the death benefit is paid within 8 working days (once you submit all required documents). In case of any delay from the insurer side, the company will pay an interest of 6% p.a.

2. Do I get a greater benefit if I opt for Riders or Add-ons?

Riders/Add-ons are the additional benefits, which can be added to the basic policy by paying a marginal additional premium. They help to enhance the coverage of the policy.

3. In case of death, will the nominee get any benefits when the policy is in lapsed mode?

In case of demise during the grace period, the policy is considered to have lapsed. If the policy gets lapsed on the demise date, there is no payout. For information, check with the company.

4. Can I pay the TATA AIA Life Insurance policy premium online?

Yes, you can log on to TATA AIA’s website or PolicyX.com to pay the premium via debit/credit card or net banking.

5. Do I need to go through a medical examination when I buy life insurance? If yes, is the cost borne by the company?

Usually, a person buying life insurance coverage for over Rs. 5,00,000 has to undergo a medical examination. This amount may vary from company to company. And the insurance company bears the cost of the medical examination.

6. What are the various payment options available under Tata AIA Life Insurance Company limited?

You can pay your premiums in a variety of ways, including annually, semi-annually, quarterly, and monthly.

7. How to check my TATA AIA Life Insurance Policy status?

You can check the status of your policy by visiting the Tata AIA Life official website and logging in with your registered ID and password. The details of your insurance will be revealed once you’ve logged in.

8. Is it possible to cancel myTATA AIA Life Insurance Policy if I’m unsatisfied with it?

Yes, you may cancel the insurance within the free look time, which is usually 15 days after you purchase it. After deducting some nominal amount, the money paid by you will be returned.

9. I have lost my TATA AIA policy documents? What is the procedure for requesting duplicate policy documents?

Do not worry if you’ve misplaced your original policy paper. Go to the nearest Tata AIA branch and fill out a ’Lost Policy Declaration Form.’ Duplicate policy papers will be sent upon the submission and verification of the information provided in the form.

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Himanshu Kumar

Written By: Himanshu Kumar

Himanshu is a seasoned content writer specializing in keeping readers engaged with the insurance industry, term and life insurance developments, etc. With an experience of 2 years in insurance and HR tech, Himanshu simplifies the insurance information and it is completely visible in his content pieces. He believes in making the content understandable to any common man.

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