TATA AIA is a renowned name in the life insurance industry. It is a joint venture between Tata Sons Pvt. Ltd. and AIA Group Ltd. (AIA). The company caters to almost all life insurance products and assist in having a secure life. The company has plans for all stages starting from child insurance plans, TATA AIA pension plans to term insurance among others.
TATA AIA Life aims at providing the simplest life insurance and health insurance solutions. The company is one of the largest growing companies in the life insurance sector. The company is now ranked at 5, based on individual weighted new business premiums. The company is all set to achieve the highest standards.
|Business Line||Life Insurance|
To offer a secure future and enjoyable golden years, the company has come out with multiple pension plans to cater to different needs of post-retirement years.
It is a non-linked, non-participating life insurance plan that comes out with a dozen benefits to cater to different needs of customers. TATA AIA Guaranteed Monthly Income Plan offers the required financial protection for your family along with a monthly income to deal with future needs.
|Entry Age||5 to 60 years|
|Maturity Age||5 to 60 years|
|Annualized Premium||36000- No limit|
|Premium Payment Mode||Annually, half-yearly, quarterly, yearly|
It is a non-linked participating endowment plan. This plan enables you to find a balance in your financial portfolio as you will create a balance in your life's portfolio. TATA AIA Freedom pension plan provides you offers Guaranteed Additions to improve your retirement corpus. You can also add a rider to enhance the cover
|Entry Age||25-50 years|
|Maximum Maturity Age||60 years|
|Payment mode||Annual, Semi-Annual, Monthly|
|Minimum Premium||As per minimum sum assured|
It is a single premium non-Linked, non-participating individual annuity plan. Tata AIA Life Insurance Smart Annuity plan that assists you to gain financial freedom during your second innings. This plan provides regular income to assist you to manage your expenses post-retirement.
|Entry Age||45-85 years|
|Annuity Payout||Monthly, Annually, yearly, half-yearly|
|Premium Payment Mode||Single|
|Maximum Annuity Purchase Price||No- limit|
Tata AIA Pension Plans are all about embracing retirement with a grin! They help you to lead a pressure-loose retirement life, without being dependent on others for your everyday expenses. These plans provide you with more than one alternative to beautify your corpus so you can fulfill your put up-retirement needs and dreams with ease. You furthermore might have the power to pick your policy period, in step with your particular retirement requirements.
The future is uncertain, so it's important to have financial independence put up retirement and if there are additional benefits from a policy it is a value brought the point for the traders too. TATA AIG brings flexible pension plans which are elaborated here.
In case of the death of the insured during the policy tenure, the beneficiary will get hold of the sum assured and is even eligible for the bonus if there are any.
For getting insured under the TATA AIA Life pension plan, there is no requirement of medical tests. A health assertion has to be signed to complete the process in case your age is between 18 to 45 years.
The premium can be paid based on quarterly, monthly, 1/2 every year or maybe annually. You can even choose a one-time payment option in the annuity plan. The premium payment is prevalent in the method of credit card or cheque. The monthly fee must be made best by using credit score playing cards.
There are several objectives of coverage like having financial security for the family’s future in case of an unfortunate incident, tax savings, wealth creation, monetary making plans for children's training/marriage and provision for antique age.
Someone who has completed 18 years of age & as in step with other situations targeted beneath the Indian Contract Act, 1872 can take a coverage policy both for himself/herself or for his/her dependents.
As an insured, you can pay the premium either by using a cheque, cash, ECS or online price.
The earlier the better. Begin early to get the advantage of an extended funding horizon. The earliest you must buy a plan at the age of 18 years.
You get to experience tax benefits with the investments that you make. In addition to these, under section 80C and segment 10(10D) as per Income Tax Laws.
Last updated on 06-11-2020