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Calculate Life Insurance Premium

Term Plan Savings Plan Wealth Plan Retirement Plan

Tata AIA Life Insurance

Sampoorna Raksha Supreme


Get 1 Crore Life Cover at Rs 547/month* and save tax~ up to Rs 46,800++

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Guaranteed Return Insurance Plan


Get guaranteed^^ income and save tax~ up to Rs 46,800++ | ^^T&C apply

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Param Rakshak (Return of Premium)


Param Rakshak solution comprises of Tata AIA Life Insurance Smart Sampoorna Raksha (UIN:110L156V03) and Tata AIA Vitality Protect Plus (UIN: 110A048V03). Tata AIA Life Insurance Smart Sampoorna Raksha is also available individually for sale.


Grow your wealth with our top-rated funds^ aur Raho Har Waqt Ke Liye Taiyaar!

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Tata AIA Life Insurance

Fortune Guarantee Pension


Retirement is the time to live every moment fikar-free, which is only possible when you have a sound financial plan.

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Calculate Your Premium

Term Plan

Tata AIA Life Insurance

Sampoorna Raksha Supreme


Get 1 Crore Life Cover at Rs 547/month* and save tax~ up to Rs 46,800++

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TATA AIA Life Insurance Co. Ltd will send you updates on your policy, new products & services, insurance solutions or related information. Select here to opt-in.

Savings Plan

Tata AIA

Guaranteed Return Insurance Plan


Get guaranteed^^ income and save tax~ up to Rs 46,800++ | ^^T&C apply

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TATA AIA Life Insurance Co. Ltd will send you updates on your policy, new products & services, insurance solutions or related information. Select here to opt-in.

Wealth Plan

Param Rakshak (Return of Premium)


Param Rakshak solution comprises of Tata AIA Life Insurance Smart Sampoorna Raksha (UIN:110L156V03) and Tata AIA Vitality Protect Plus (UIN: 110A048V03). Tata AIA Life Insurance Smart Sampoorna Raksha is also available individually for sale


Grow your wealth with our top-rated funds^ aur Raho Har Waqt Ke Liye Taiyaar!

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TATA AIA Life Insurance Co. Ltd will send you updates on your policy, new products & services, insurance solutions or related information. Select here to opt-in.

Retirement Plan

Tata AIA Life Insurance

Fortune Guarantee Pension


Retirement is the time to live every moment fikar-free, which is only possible when you have a sound financial plan.

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Types of Life Insurance

View all plans View all Life Insurance Plans
Term Plans Savings Plans ULIPs Plans Retirement Plans

Term Plans

A term insurance plan helps you secure the future of your loved ones and shields your family from uncertainties in life. With a term insurance plan, one can get a large life cover (Sum Assured) at a lower premium. In case of an unfortunate event such as the death of the life assured in your family, the nominee is paid the sum assured as pre-defined in the policy.

Get Life Cover

Provides Life Cover against uncertainties of Life

Tax Benefits~

Get Tax Benefits~ as per applicable tax laws

Savings Plans

Savings plans are insurance plans that combine the benefits of protection and savings. Savings plans allow you to save money over the policy term while simultaneously offering you the benefits of protection. This means you get to give your family the gift of financial security to live a fikar-free life.

Guaranteed^^ Returns

With a savings plan, you can get guaranteed^^ returns as a maturity benefit pay-out. This will help you accomplish your financial goals with the benefit of life insurance policy. ^^T&C apply

Rider Options4

You can increase the coverage of your policy by adding additional riders to get the complete policy coverage.

ULIPs Plans

ULIPs (Unit Linked Insurance Plans) are life insurance plans that offer the benefit of life cover along with market-linked returns5. You can accomplish your dream goal such as buying a house, saving for child’s education or early retirement. Basis your risk appetite, you can choose to invest in High, Medium, and Low-risk investment options and pay ULIP policy premiums easily.

Tax Benefits~

Get Tax benefitsas per applicable
tax laws

Flexibility to Choose Fund Option

Basis your risk appetite, you can choose
to invest in Equity, Debt, and balanced fund
options. Also, to maximize your returns from
ULIP policy, you can move your investment
between different funds.

Retirement Plans

Tata AIA Retirement plans are insurance plans that are tailor-made to give you financial independence during the golden years of your life. These policies help you secure your future, fulfil your family dreams and financial goals, and live a worry-free life after you have retired.

Peace of Mind

Live a worry-free life with investments that provide you a regular income. A well-diversified financial portfolio will give you higher returns during your retirement.

Guaranteed$ Lifelong Income

You may be at the peak of your professional life right now. But after a long and successful career, you will no doubt look forward to a comfortable post-retirement life with financial stability. Tata AIA retirement plans can help you realize this your financial ambition.$T&C apply

Types of Life Insurance for you

Term Plans

Term Plans

term insurance plan helps you secure the future of your loved ones and shields your family from uncertainties in life. With a term insurance plan, one can get a large life cover (Sum Assured) at a lower premium. In case of an unfortunate event such as the death of the life assured in your family, the nominee is paid the sum assured as pre-defined in the policy.

Get Life Cover

Provides Life Cover against uncertainties of Life

Tax Benefits~

Get Tax Benefits~ as per applicable tax laws

Savings Plans

Savings Plans

Savings plans are insurance plans that combine the benefits of protection and savings. Savings plans allow you to save money over the policy term while simultaneously offering you the benefits of protection. This means you get to give your family the gift of financial security to live a fikar-free life.

Guaranteed^^ Returns

With a savings plan, you can get guaranteed^^ returns as a maturity benefit pay-out. This will help you accomplish your financial goals with the benefit of life insurance policy. ^^T&C apply

Rider Options4

You can increase the coverage of your policy by adding additional riders to get the complete policy coverage. 

ULIPs Plans

ULIPs Plans

ULIPs (Unit Linked Insurance Plans) are life insurance plans that offer the benefit of life cover along with market-linked returns5. You can accomplish your dream goal such as buying a house, saving for child’s education or early retirement. Basis your risk appetite, you can choose to invest in High, Medium, and Low-risk investment options and pay ULIP policy premiums easily.

Tax Benefits~

Get Tax benefits~ as per applicable tax laws

Flexibility to Choose Fund Option

Basis your risk appetite, you can choose to invest in Equity, Debt, and balanced fund options. Also, to maximize your returns from ULIP policy, you can move your investment between different funds.

Retirement Plans

Retirement Plans

Tata AIA Retirement plans are insurance plans that are tailor-made to give you financial independence during the golden years of your life. These policies help you secure your future, fulfil your family dreams and financial goals, and live a worry-free life after you have retired.

Peace of Mind

Live a worry-free life with investments that provide you a regular income. A well-diversified financial portfolio will give you higher returns during your retirement.

Guaranteed$ Lifelong Income

You may be at the peak of your professional life right now. But after a long and successful career, you will no doubt look forward to a comfortable post-retirement life with financial stability. Tata AIA retirement plans can help you realize this your financial ambition.$T&C apply


 

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TATA AIA Life Insurance Co. Ltd will send you updates on your policy, new products & services, insurance solutions or related information. Select here to opt-in

What is Life Insurance?

In the simplest sense, life insurance is a contract between two parties, namely, an individual (the insured or policyholder) and a life insurance company (the insurer or insurance provider).
 

The insurance provider assures the policyholder of financial coverage for their family until the end of the policy tenure. In case of the individual’s demise, the financial protection by the insurer is extended to the insured’s family in the form of a lump sum payout or monthly income.
 

In the case of policies where a maturity benefit is payable, the policyholder can claim the benefits if they survive until the end of the policy tenure. These benefits, too, can be paid out as a lump sum or as regular income.
 

To keep the life insurance cover active, the insured pays a premium to the insurer on a monthly, quarterly, half-yearly, or annual basis. The premium amount payable is determined on the basis of various factors, including the life insurance coverage.

How does Life Insurance Work?

Life insurance secures the financial needs of your family and ensures their well-being in case of your untimely demise.
 

To keep the life insurance coverage active, you need to make the premium payments towards the policy as per the selected. However, there are different types of life insurance policies, and they all serve different purposes.
 

Term insurance is the simplest form of life insurance. Under a term plan, your family will be protected by a pure life cover and will receive death benefits in case of your death. After the benefits are paid out, the life cover will be terminated.
 

Life insurance policies like savings plans comprise long-term savings as well as life insurance. With a money-back plan, endowment plan, or guaranteed returns plan, a maturity benefit is payable when the policy matures. However, this is subject to your survival until then.
 

Similarly, Unit-Linked Insurance Plans combine life insurance with investment. You can choose a ULIP as per your risk appetite and investment goals. During the policy term, you invest in the funds under the policy, and on maturity, you can earn market-linked returns5 from your investment.
 

A life insurance plan allows you to choose from flexible policy terms, premium paying terms, and a mode, as per your needs and convenience. The policy term determines how many years your life insurance plan will offer coverage to your family. The premium paying term can be chosen for the number of years you want to pay your premiums. You can also pay a one-time lump sum as the premium if you want to avoid paying monthly/yearly premiums.
 

Life insurance does not always cover deaths caused due to specific illnesses, injuries, and accidents. These riders cover a range of unforeseen risks like hospitalisation costs, critical illnesses, accidental death and disability, and more. The riders come at an additional but nominal cost and cannot be purchased unless you have a valid life insurance policy.
 

There are also some exceptions and exclusions under life insurance. Before purchasing a life insurance policy, it is advisable to understand these exclusions so that you can get the most out of your life insurance policy.

What are the Benefits of Life Insurance?

Here are the important reasons why you must have life insurance:

Financial Protection with Life Insurance

Financial Protection

A life insurance plan ensures that your family will be financially secure in your absence. The life insurance coverage pays out the sum assured to your family or beneficiary if you meet an untimely demise during the policy term.

Wealth Creation through Life Insurance

Wealth Creation

In the case of savings plans or Unit-Linked Insurance Plans, you can invest in the policy through your premium payment over the long term. This financial corpus is paid out as the maturity benefit if you outlive the policy term.

Assured Returns with Savings Plans

Assured Returns

Savings plans or retirement savings plans offer guaranteed and assured returns on maturity. You can save your money over the years as you pay your premiums. On maturity, this amount can be availed of either as a lump sum or as a regular income.

Tax Benefits with Life Insurance

Tax Benefits~

Under Section 80C of the Income Tax Act, you can claim a tax deduction of up to ₹ 1.5 Lakh on the paid premiums. The death benefits and maturity benefits/bonuses/loyalty additions (subject to policy conditions) are tax-exempt under Section 10(10D).

Low Premiums on Life Insurance

Low Premiums

If you plan to get life insurance, purchasing the policy at a younger age ensures lower premiums, owing to lower health risks. The premium amount is higher if you buy life insurance later at an older age.

Long-Term Coverage for Lifetime Protection

Long Term Coverage

Some term insurance plans offer a long coverage, with some plans offer cover up to 100 years of age. With this, you can ensure that you and your family are protected for your whole life.

Need Help to Choose the Right Life Insurance Plan?

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Who Needs Life Insurance

Life insurance is important for everyone, irrespective of age, profession, and lifestyle. These are the broad categories of individuals who should have life insurance:

  • Young Individuals - Boy and Girl Image

    Working Professionals

    At a young age when you just join the workforce, you can avail of lower premiums. Salaried individuals with life insurance can provide extensive financial coverage for their loved ones without letting expensive premiums affect their other expenses.
    Young Individuals - Boy and Girl Image

    Working Professionals

    At a young age when you just join the workforce, you can avail of lower premiums. Salaried individuals with life insurance can provide extensive financial coverage for their loved ones without letting expensive premiums affect their other expenses.
  • Parents - Mother Father and Child

    Newly-Weds

    Married couples tend to have greater financial responsibilities, such as loans for buying a new home, car, or household items. A life insurance policy with joint coverage covers both partners under a single plan for better management.
    Parents - Mother Father and Child

    Newly-Weds

    Married couples tend to have greater financial responsibilities, such as loans for buying a new home, car, or household items. A life insurance policy with joint coverage covers both partners under a single plan for better management.
  • Newly married couples

    Working Parents

    If either or both parents are earning, life insurance is important. This is essential since a family with a child/children means more financial responsibilities. Life insurance or a child plan can help the parents cover various financial risks.
    Newly married couples

    Working Parents

    If either or both parents are earning, life insurance is important. This is essential since a family with a child/children means more financial responsibilities. Life insurance or a child plan can help the parents cover various financial risks.
  • Working Woman - Woman With Mobile in Her Hand

    Homemakers

    Life insurance is important for stay-at-home moms and homemakers. In case of the death of the lady of the house, the life insurance coverage should be able to help the rest of the family sustain themselves and find help to manage the home.
    Working Woman - Woman With Mobile in Her Hand

    Homemakers

    Life insurance is important for stay-at-home moms and homemakers. In case of the death of the lady of the house, the life insurance coverage should be able to help the rest of the family sustain themselves and find help to manage the home.
  • Taxpayer - Avail of a term insurance tax benefit as per the applicable tax laws

    Retired Individuals

    During your retirement years, a life insurance plan can help replace your salary. Here, retirement insurance plans can offer regular income, which makes it easier for you to take care of yourself and your family.
    Taxpayer - Avail of a term insurance tax benefit as per the applicable tax laws

    Retired Individuals

    During your retirement years, a life insurance plan can help replace your salary. Here, retirement insurance plans can offer regular income, which makes it easier for you to take care of yourself and your family.
  • Self-employed individuals who run their own businesses - Who Should Buy a Term Insurance Plan?

    Business persons

    Starting a business venture can consume your savings. You may also need to take a loan. Life insurance can help you secure your business and your family’s needs so that any unpaid debts do not burden them in your absence.
    Self-employed individuals who run their own businesses - Who Should Buy a Term Insurance Plan?

    Business persons

    Starting a business venture can consume your savings. You may also need to take a loan. Life insurance can help you secure your business and your family’s needs so that any unpaid debts do not burden them in your absence.

How Much Life Insurance Cover Do You Need?

Calculating your life insurance coverage can be a detailed but simple process once you know more about it. Here is what you need to consider when computing the life insurance coverage needed:

Life Insurance for your Family’s Financial Security

Your family’s needs

Life insurance can help cover major financial events in your life. Hence, even when you are not around, your family should be able to meet all their goals and fulfil their dreams. Also decide on a coverage that will handle their smallest needs.

Income-Based Life Insurance Coverage

Your financial capacity

Your current income will decide the life insurance coverage your family needs. The coverage should be at least 10 to 20 times your annual income. Your financial capacity is also important when it comes to making reasonable premium payments.

Life Insurance for Family's Financial Support

Income replacement

If you are the sole earning member of your family, your income supports your family. When you cannot provide for them, your life insurance should offer financial assistance to them at least equal to your monthly income.

Debt Relief Assurance with Life Insurance

Loans and debts

Unpaid loans can eat into life insurance coverage. Hence, it is better to pay them off as early as possible. But in the event of your death, life insurance can ensure that your family does not suffer under the burden of these unpaid debts.

Healthcare Assurance with Life Insurance

Medical emergencies

It is always prudent to set aside some life insurance coverage for future medical emergencies for your family. This will enable them to get the quality healthcare required in your absence. Also, consider future inflation rates when considering this amount.

Life Insurance with Life Stage Adjustments

Changes in Life Stage

Your life insurance cover should meet your long-term financial requirements. With change in life stage such as marriage or childbirth it should provide adequate support in case of any unfortunate events. With Life Stage2 option you can increase cover at important milestones.

  • Why Do You Need Life Insurance?

    These are some reasons why life insurance is a must:

    Long-term financial stability

    Your life insurance plan helps create a financial corpus for your family’s future financial security. With a savings plan, you can plan early and save enough for the future to meet your financial goals. 

    Secure your child's future

    Be it a child education plan or a savings plan, life insurance can help you secure your child’s future needs. And in case of your death or your spouse’s death, your child will still be able to realise their dreams.

    Financial liabilities

    Loan repayments can be a hassle, and non-repayment can lead to bad credit and increase the chances of earning a penalty fee. In your absence, you can keep your family away from the risk of unpaid debts with a life insurance plan.
     

    Spouse’s retirement

    A planned retirement helps you meet various needs. But in your absence, your spouse should not be deprived of a retirement plan in your absence. With life insurance, you can secure a retirement corpus for their future needs.

    Tax benefits

    You can claim tax deductions under Section 80C of the Income Tax Act on your policy premiums. And since the death benefits, too, are tax-exempt under Section 10(10D), your family can inherit a tax-free legacy for their security. 

Factors That Affect Life Insurance Premiums

The following factors can affect your life insurance premiums:

  • 01

    The sum assured

    Choosing a high life insurance sum assured means higher policy premiums. However, this does not mean you should opt for inadequate life insurance coverage. Select a coverage amount to help you pay manageable premiums.
  • 02

    Your age

    Most people buy life insurance when they start working. By purchasing a policy at a young age, you can ensure affordable premium payments since you will likely be healthier during your youth. Buying life insurance at an older age means higher premiums.
  • 03

    Your gender

    Life insurance premiums vary as per your gender, as men and women tend to have different health risks at different stages of their lives. For instance, men are generally more prone to heart conditions than women.
  • 04

    Medical history

    Your medical history or any previous illnesses in your family can influence your premiums. If you still have any health conditions due to any past ailments, it is likely that you will be paying a higher premium than someone with no medical history.
  • 05

    Lifestyle habits

    People with healthy lifestyles tend to have healthier bodies and fewer ailments. This means their life insurance premiums are also lower. But if you have smoking or drinking habits, your life insurance provider will fix a higher premium rate for you.
  • 06

    Your occupation

    If you have a desk job involving no physical risk, this factor will be considered for your premium calculation. However, your premiums will be higher if you work in mining, construction, etc.
  • How to Claim Life Insurance?

    You can follow these simple steps to file a claim:

    Claim intimation

    Write to Tata AIA Life Insurance to inform us about the claim or call us. The written claim intimation should contain:

    • The Policy Number Image

      the policy number

    • Insured's Name

      the insured’s name

    • The date and place of death

      the date and place of death

    • The cause of death

      the cause of death

    • The claimant's name

      the claimant's name

    Alternatively, you can also file the claim offline, at any of our office branches.

    Documents required

    A few essential documents are needed to file the claim. They are:

    • The claimant's statement

      The claimant's statement

    • Original policy document

      original policy document

    • Death certificate

      death certificate

    • Police FIR

      police FIR

    • post-mortem exam report in case of an accidental death

      post-mortem exam report in case of an accidental death

    • Certificate and records from the Hospital

      certificate and records from the hospital

    • Advance discharge form

      advance discharge form

    There may be a requirement for additional documents.

    Submission of documents

    The claims process can only begin once all necessary documents have been submitted. When filing the claim online, upload soft copies of the documents. For offline submission, visit any of our office branches.

    Claim settlement

    As per IRDAI regulations, the claim settlement timeline is 30 days from receiving all the documents, including any clarifications from our end. However, in case of further investigations for the claim settlement, this regulatory timeline can be extended up to 90 days from the day of the claim intimation.

What are the Types of Death Not Covered in Life Insurance?

Though life insurance covers natural deaths and accidental deaths, here are some of the common causes of death that cannot be covered under life insurance:

Death due to criminal/high-risk activities

Life insurance will not cover your death caused by your involvement in illegal or criminal activities. Also, death caused by high-risk sports will not be covered.

Pre-existing illnesses

Inform your insurer about any pre-existing condition during the policy purchase. The benefits can only be paid out if this information is already available with the insurer.

Death due to intoxication

The use and overdose of drugs and alcohol can lead to death. But your life insurance policy cannot cover this type of death.

Death due to natural calamities

Life insurance cannot cover damages to the insured’s life arising from natural disasters or calamities.

Why Select Tata AIA Life Insurance Policy?

We combine Tata Group’s unrivalled brand strength and leadership position in India, and AIA’s expertise and presence in 18 markets across the Asia-Pacific region. As pre-eminent protection providers, we offer customized solutions that enable consumers to protect the smiles of their loved ones family members.

Life Insurance Related Articles

Frequently Asked Questions (FAQs)

Life Insurance Term Insurance Savings & Investment ULIP Retirement Child Insurance

What are savings plans?

Savings plans are a form of life insurance that helps you save money over the long term while securing your family with a life cover. You can get the savings corpus as a maturity benefit when the policy matures if you outlive the policy term. This corpus can help you fulfil your future financial commitments and goals.
 

On the other hand, in case of your death during the policy term, your family will receive the death benefit from the life cover. This sum assured will keep them financially secure in your absence.

Are there different types of savings plans?

Yes, there are different types of savings plans that you can choose from as per your needs:
 

  • Money-back plans
  • Endowment plans
  • Guaranteed returns plans

Can I pay my premiums online toward my life insurance savings plan?

Yes, you can simply log in on your insurance provider’s official website to access your savings policy and choose a digital payment channel to pay your premiums online in a secure manner.

What is the highest limit I can choose for my savings?

Depending on your choice of savings policy, you can choose any amount for your savings corpus per your goals. You can determine the highest savings limit. The life insurance sum assured can also be decided by you. However, while there is a minimum limit to the sum assured, the maximum limit will require your insurance provider’s approval.

Why do you need term insurance?

Different policyholders need term insurance for individual reasons. Term insurance is primarily used to secure your family’s financial future in your absence. However, you can also use a term plan with adequate coverage for many other reasons if you meet your demise within the policy term.
 

The sum assured can protect your family from unpaid loans and debts, create a retirement fund for your spouse, set up a charitable trust fund for your family or underprivileged children, and so on.

Is term insurance more affordable than other life insurance policies?

Yes, term insurance is more affordable than other forms of life insurance. This is because term plans only offer a pure life cover which can be as extensive as your needs. In the event of your untimely demise during the policy term, the policy will offer your beneficiary/family a death benefit sum assured and then the policy will cease to offer any benefits. Since there are no other components under term insurance, the premiums are also quite low.

Which is the best age to buy a term insurance plan?

You can have a term insurance policy at any age if you need life insurance for yourself and your family. However, buying a term plan when young can ensure lower premium payments due to the lower health risks related to youth.

Getting a term insurance plan early also means a longer policy tenure and more years of life insurance coverage for your family’s protection. 

Can I have more than one term policy?

Yes, you can have more than one term insurance policy. However, it is advisable to have one policy with adequate life insurance coverage than multiple policies. This is because the premium payments for two or three policies can become a financial burden over the years.
 

Moreover, keeping track of so many premium payment due dates is a hassle. However, with one term plan and probably a few essential, optional riders, you can provide comprehensive protection to your family.

What are savings plans?

Savings plans are a form of life insurance that helps you save money over the long term while securing your family with a life cover. You can get the savings corpus as a maturity benefit when the policy matures if you outlive the policy term. This corpus can help you fulfil your future financial commitments and goals.
 

On the other hand, in case of your death during the policy term, your family will receive the death benefit from the life cover. This sum assured will keep them financially secure in your absence.

Are there different types of savings plans?

Yes, there are different types of savings plans that you can choose from as per your needs:
 

  • Money-back plans
  • Endowment plans
  • Guaranteed returns plans

Can I pay my premiums online toward my life insurance savings plan?

Yes, you can simply log in on your insurance provider’s official website to access your savings policy and choose a digital payment channel to pay your premiums online in a secure manner.

What is the highest limit I can choose for my savings?

Depending on your choice of savings policy, you can choose any amount for your savings corpus per your goals. You can determine the highest savings limit. The life insurance sum assured can also be decided by you. However, while there is a minimum limit to the sum assured, the maximum limit will require your insurance provider’s approval.

When should I get a child education insurance plan?

Start planning for a child education insurance plan when your child is an infant. A child education plan aims to cover your child’s future education expenses. Once the policy matures, you can fund your child’s college education through the child investment plan.

Does a child investment plan offer life insurance?

Yes, a child investment plan offers life insurance benefits. If the insured parent or both parents pass away, the death benefits will ensure the child’s financial future is secure. If the child is a minor at the time of their parents’ death, a beneficiary should be appointed in advance, who can manage the funds on behalf of the child until they reach 18 years of age.

How much should I invest in a child insurance plan?

Considering all the future educational expenses, tuition fees and course fees, determine an amount that will help meet all these costs. Also, consider the future rate of inflation so that there is no shortage of funds when it comes to fulfilling your child’s goals and dreams.

Are there different child investment plans?

Yes, there are different types of child investment plans. Some can be market-linked plans, while others are low-risk savings plans. You can decide what type of policy you want to invest in for your child’s future.

Why should one invest in a Unit-Linked Insurance Plan?

You can invest in a ULIP to grow your wealth long-term. By investing regularly, you can benefit from the market-linked returns5 through the years and, at maturity, receive the fund value on your investment.

Can I opt for more than one fund in a ULIP?

There are multiple funds to choose from when you invest in a ULIP. You can opt for a few or all the funds to invest in. This can help you diversify your ULIP portfolio. The type of funds will vary as per the ULIP you choose.

Is it possible to switch between funds?

If you are not satisfied with the performance of certain funds, you are allowed to make a certain number of free fund switches during the year. You can move your money to other funds available under the ULIP policy to improve your fund performance.

How many ULIPs are needed for wealth creation?

One ULIP can suffice for your wealth creation goals if you plan your investment. However, over the years, if you want to invest in new funds, you can opt for a second ULIP plan. It is advisable not to go overboard with many ULIPs as these are market-linked plans and carry investment risk.

When should I plan my retirement?

Retirement planning should start at least 10-20 years before your retirement. This will enable you to accumulate and save enough funds for all your post-retirement needs.

Can I get a regular income with a retirement plan?

Yes, you can opt for a retirement plan that offers regular income. Once you retire, you can buy an annuity plan with the investment. This annuity plan will pay out a monthly income to you. This can help you fulfil all your essential needs and meet any planned future goals after retirement. 

Do retirement plans offer life insurance?

If you select a life insurance retirement plan, you can get a life cover for your family. Hence, in case of your death after retirement, your family can still be secured with the sum assured from life insurance.

Do I need to pay separate premiums for life insurance?

You only pay the premiums towards your retirement plan and buy the annuity on your retirement. There is no need to pay a separate premium for the life insurance component if your retirement plan offers life insurance benefits. 

When should I get a child education insurance plan?

Start planning for a child education insurance plan when your child is an infant. A child education plan aims to cover your child’s future education expenses. Once the policy matures, you can fund your child’s college education through the child investment plan.

Does a child investment plan offer life insurance?

Yes, a child investment plan offers life insurance benefits. If the insured parent or both parents pass away, the death benefits will ensure the child’s financial future is secure. If the child is a minor at the time of their parents’ death, a beneficiary should be appointed in advance, who can manage the funds on behalf of the child until they reach 18 years of age.

How much should I invest in a child insurance plan?

Considering all the future educational expenses, tuition fees and course fees, determine an amount that will help meet all these costs. Also, consider the future rate of inflation so that there is no shortage of funds when it comes to fulfilling your child’s goals and dreams.

Are there different child investment plans?

Yes, there are different types of child investment plans. Some can be market-linked plans, while others are low-risk savings plans. You can decide what type of policy you want to invest in for your child’s future.

Disclaimers

  • 177,26,727 families protected till December ’23.
  • 2Applicable for specific plan options. Please refer brochure for additional details.
  • 3Discount on digital purchase for Limited Pay and Regular Pay = Min (PPT * 2%, 15%). Discount on digital purchase for SP = 2%
  • 4Riders are not mandatory and are available for a nominal extra cost. For more details on benefits, premiums, and exclusions under the Rider, please contact Tata AIA Life's Insurance Advisor/Intermediary/ branch.
  • 5Market-linked returns are subject to market risks and terms & conditions of the product. The assumed rate of returns or illustrated amount may not be guaranteed and depends on market fluctuations.
  • 6Individual Death Claim Settlement Ratio is 99.01% for FY 2022-23 as per the latest annual audited figures.
  • 7Families protected from inception till date.
  • 8Retail Sum Assured for FY2023 is Rs 4,43,479 Crores
  • 9As on 31st August 2023, the company has a total Assets Under Management (AUM) of Rs. 81,601.11 Crores
  • 10Applicable to only non-early claims more than 3 years of policy duration, non-investigation cases, up to Sum assured of 50 lacs. Applicable for branch walk in. Time limit to submit claim to Tata AIA by 2 pm (working days). Subject to submission of complete documents. Not applicable to ULIP policies and open title claims.
  • 11Guaranteed returns in this plan depends on Age at Entry of life assured, Premium payment term, policy term, premium amount and plan option chosen.
  • 12Return of Purchase price means return of all premiums paid excluding any extra premium, any rider premium, taxes and other statutory levies, if applicable
  • 13Get security on investment by having premium in the form of Regular Income or Lumpsum benefit through Tata AIA Life Insurance Smart Income Plus (UIN:110N126V05)
  • 14Guaranteed is applicable only if all due premiums are paid and the policy is inforce.
  • 15Liquidity through partial withdrawal from ULIP funds after completion of 5 years
  • 16Under SurgiCash Benefit of the Tata AIA Sampoorna Health Rider, the payouts are offered basis the categories of surgeries: 10% of sum assured up to Rs. 50,000 for day care procedures such as eye cataract, nasal sinus operation, 25% on Category 1 surgeries, like Amputation of foot or hand, 50% on Category 2 surgeries, like knee or hip replacement, 75% on Category 3 surgeries, like Aortic Valve Repair, and 100% on Category 1 surgeries, like CABG. Refer list of surgeries for benefit payouts.
  • 17Under CritiCash Benefit of the Tata AIA Sampoorna Health Rider, Benefit payouts for multistage critical illnesses are offered depending on the category of the illness. For minor critical illnesses such as cardiac arrest, angioplasty, Early-stage cancer etc, the payout will be 25% of sum assured up to Rs. 10,00,000/-. For major critical illnesses such as Heart attack, Major head trauma, Parkinson’s disease, Alzheimer’s disease etc., the payout will be 100% of sum assured. For a catastrophic illness like end stage cancer or major organ/bone marrow transplant, the payout will be 150% of sum assured. Refer list of critical illnesses for benefit payouts.
  • 18On enrolling into the Wellness Program, you get an upfront discount of 5% on 1st year premium for Accidental Death, Accidental Total & Permanent Disability, Accidental Disability Care Benefits and of 10% on 1st year premium for Term Booster, CritiCare Plus, Accelerated CritiCare, Multistage CritiCare, Cancer Care, Cardiac Care. The rewards are offered on cumulative basis and in any year, the maximum rewards in view of both the Up-front Rewards and Annual Rewards Flex together or Cover Booster (applicable post premium payment Term) shall be 15% for Accidental Death, Accidental Total & Permanent Disability, Accidental Disability Care and 30% for all other benefit options. Discount is driven by accumulated points which is achieved through wellness status. Please refer policy document for more details.
  • 19Applicable for specific plan options. Please refer brochure for additional details.
  • 20Sample illustration: 20 yr old female, standard life, non-smoker for 1 Cr Life Cover with Policy Term of 20 yrs (Regular Pay) under Life Option. Premium shared is the monthly premium with Tata AIA Vitality discount for the 1st year and excludes taxes. 2nd year onwards premium will vary basis Vitality Status. Tata AIA SRS Vitality Protect is a term solution which includes Tata AIA Life Insurance Sampoorna Raksha Supreme, a non-linked, non-participating, individual life insurance plan (UIN: 110N160V04) and Tata AIA Vitality Protect, a non-linked, non-participating, individual health rider (UIN: 110B046V02).
  • 21Guaranteed Payout (GP) is a fixed percentage of the Annualized Premium and shall be payable annually from income start year in case of Regular income option and at the end of policy year preceding the year of Maturity in case of Endowment option. Guaranteed Maturity Pay-out (GMP) is a percentage of the Annualised Premium and shall be payable at maturity.
  • 22Guaranteed Benefit is a % of Total premiums paid based on the policy term, premium paying term, gender, annualised/Single premium band & entry age
  • 23Guaranteed Additions accrue at the end of each completed policy year, subject to all due premiums being paid and form a part of the Death Benefit offered under the option.
  • 24Guaranteed Income shall be a fixed percentage of the Annualised Premium / Single Premium (excluding discount) payable in a year. Guaranteed Annual Income as per the chosen Income Frequency shall commence after maturity till the end of the Income Period, irrespective of survival of the life insured(s) during the Income Period.
  • 25Illustrated Income Rates (Internal rate of return – IRR) is for Rs. 5 lakh annual premium for Male/Female, age up to 50 years, standard life. Premium & IRR is excluding taxes for premium paying term of 10 years for policy term of 14 years and income term of 30 years. Internal Rate of Return will change subject to change in the combination of entry age, gender, Plan Option, Policy Term, Premium Paying Term, Premium Paying Frequency, Income Benefit Pay-out Frequency, Lump Sum benefit. IRR is a discount rate that makes the net present value (NPV) of all cash flows equal to zero in a discounted cash flow analysis.
  • 26Return of Premium Benefit is The Total Premiums Paid (excluding loading for modal premiums and discount) to the policyholder at the end of the Income Period, irrespective of survival of the life insured(s) during the Income Period.
  • 27Available under Regular Income with an Inbuilt Critical Illness Benefit option
  • 28Get security on investment by having premium in the form of Regular Income or Lumpsum benefit through Tata AIA Life Insurance Smart Income Plus (UIN:110N126V05)
  • The complete name of Tata AIA Sampoorna Raksha Supreme is Tata AIA Life Insurance Sampoorna Raksha Supreme (UIN:110N160V04) - A Non-Linked Non-Participating Individual Life Insurance Plan
  • The complete name of Tata AIA Guaranteed Return Insurance Plan is Tata AIA Life Guaranteed Return Insurance Plan (UIN:110N152V12) - Individual, Non-Linked, Non-Participating, Life Insurance Savings Plan) 
  • The complete name of Tata AIA Saral Pension is Tata AIA Life Insurance Saral Pension (UIN: 110N159V07) - A Single Premium, Non-Linked, Non-Participating, Individual, Immediate Annuity Plan
  • The complete name of Tata AIA Fortune Guarantee Pension is Tata AIA Life Insurance Fortune Guarantee Pension (UIN:110N161V08) - A Non-Linked Non-Participating Individual Life Insurance Plan. Multiple options are available in this plan: Immediate Life Annuity, Immediate Life Annuity with Return of Purchase Price, Deferred Life Annuity (GA-I) and with Return of Purchase Price, Deferred Life Annuity (GA-II) and with Return of Purchase Price.
  • Tata AIA Fortune Guarantee Supreme (UIN: 110N163V06) - Individual, Non-Linked, Non-participating, Life Insurance Savings Plan
  • The complete name of Tata AIA Fortune Guarantee is Tata AIA Life Insurance Fortune Guarantee (UIN: UIN: 110N120V10) - Non-Linked, Non-Participating, Individual Life Insurance Savings Plan
  • The complete name of Tata AIA Smart Income Plus is Tata AIA Life Insurance Smart Income Plus (UIN:110N126V05) - A Non-Linked, Non-Participating, Individual Life Insurance Savings Plan
  • The complete name of Tata AIA Fortune Guarantee Plus is Tata AIA Life Insurance Fortune Guarantee Plus (UIN: 110N158V11) - Non-Linked, Non-Participating, Individual Life Insurance Savings Plan.
  • Tata AIA Fortune Guarantee Retirement Ready (UIN: 110N175V02) - Individual Non-Linked, Non-Participating, Pension Plan. Multiple options are available in this plan: My Pension, Partner Pension, and Partner Pension Plus.
  • ++Tax benefits of up to ₹46,800 u/s 80C is calculated at highest tax slab rate of 31.20% (including cess excluding surcharge) on life insurance premium paid of ₹1,50,000 as per old tax regime. Tax benefits under the policy are subject to conditions laid under Section 80C, 80D,10(10D), 115BAC and other applicable provisions of the Income Tax Act,1961. Good and Service tax and Cess, if any will be charged extra as per prevailing rates. The Tax Free income is subject to conditions specified under section 10(10D) and other applicable provisions of the Income Tax Act,1961. Tax laws are subject to amendments made thereto from time to time. Please consult your tax advisor for details, before acting on above.
  • *Illustrated Premium is the monthly premium excluding taxes for 20 yr. old female, Standard Life, Non-Smoker for 1 Cr. Sum Assured with Policy Term of 20 yrs. (Regular Pay) under Life Option. Please refer Benefit Illustration for more details. Premium is subject to applicable taxes, cesses & levies which will be entirely borne/ paid by the Policyholder, in addition to the payment of such Premium. Tata AIA Life shall have the right to claim, deduct, adjust, recover the amount of any applicable tax or imposition, levied by any statutory or administrative body, from the benefits payable under the Policy. Kindly refer the sales illustration for the exact premium.
  • **Under Life Plus Option, an amount equal to the 105% of the Total Premiums Paid (excluding loading for modal premiums) shall be payable at the end of the Policy Term, provided the life assured survives till maturity and the policy is not terminated earlier.
  • +5 year computed NAV for Multi Cap Fund as of Dec’2023. Other funds are also available.
  • ^All funds open for new business which have completed 5 years since inception are rated 4 or 5 stars by Morningstar on a 5-year basis as of November’2023
  • ~~©2020 Morningstar. All rights reserved. The Morningstar name is a registered trademark of Morningstar, Inc. in India and other jurisdictions. The information contained here: (1) includes the proprietary information of Morningstar, Inc. and its affiliates, including, without limitation, Morningstar India Private Limited (“Morningstar); (2) may not be copied, redistributed or used by any means, in whole or in part, without the prior, written consent of Morningstar; (3) is not warranted to be complete, accurate or timely; and (4) may be drawn from the data published on various dates and procured from various sources and (5) shall not be construed as a n offer to buy or sell any security or other investment vehicle. Neither Morningstar, Inc. nor any of its affiliates (including, without limitation, Morningstar) nor any of their officers, directors, employees, associates or agents shall be responsible or liable for any traducing decisions, damages or other losses resulting directly or indirectly from the information
  • #Illustrated Internal rate of return (IRR)is for Rs. 5 lakh annual premium for Male/Female, age up to 50 years, standard life. Premium & IRR is excluding taxes for premium paying term of 12 years for policy term of 30 years. Internal Rate of Return will change subject to change in the combination of entry age, Plan Option, Policy Term, Premium Paying Term, Premium Paying Frequency. IRR is a discount rate that makes the net present value (NPV) of all cash flows equal to zero in a discounted cash flow analysis.
  • ##Illustrated annuity rate (IRR) is for joint life where one of the annuitants is 60 years of age while the other is 69 or above for plan type - Joint Life Last Survivor Annuity with Return of 100% of Purchase Price (ROP) on death of the last survivor. IRR is a discount rate that makes the net present value (NPV) of all cash flows equal to zero in a discounted cash flow analysis.
  • ^^Guaranteed Annual Income (GAI) in the Regular Income option is a percentage of one Annualised Premium while in the Whole Life Income option is a percentage of the Total Premiums Paid
  • ~Income Tax benefits would be available as per the prevailing income tax laws, subject to fulfillment of conditions stipulated therein. For ULIP policies, maturity income will be taxable if annual aggregate premium exceeds ₹2.5 Lakh in a financial year. For non ULIP insurance policies, maturity income will be taxable if annual aggregate premium exceeds ₹5 Lakh in a financial year. Tax laws are subject to change from time to time. Tata AIA Life Insurance Company Ltd. does not assume responsibility on tax implications mentioned anywhere on this site. Please consult your own tax consultant to know the tax benefits available to you.
  • %Guaranteed Addition (Endowment option) defined as a percentage of GMB shall accrue at a simple rate for each completed policy year, throughout the Policy Term and shall be payable on Maturity or Death whichever is earlier, subject to all due premiums being paid. GA shall accrue @ 5% of GMB
  • $The word Guaranteed and Guarantee means the annuity payout is fixed at inception of the policy and will be payable for whole of life or till death of the Annuitant(s).
  • Insurance cover is available under this product. This product is underwritten by Tata AIA Life Insurance Company Limited. The plan is not a guaranteed issuance plan, and it will be subject to Company’s underwriting and acceptance. This product will be offered to Standard lives only.
  • For ULIP products
    • IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER. THE LINKED INSURANCE PRODUCT DO NOT OFFER ANY LIQUIDITY DURING THE FIRST FIVE YEARS OF THE CONTRACT. THE POLICY HOLDER WILL NOT BE ABLE TO SURRENDER/WITHDRAW THE MONIES INVESTED IN LINKED INSURANCE PRODUCTS COMPLETELY OR PARTIALLY TILL THE END OF THE FIFTH YEAR.
    • Unit Linked Life Insurance products are different from the traditional insurance products and are subject to the risk factors. Please know the associated risks and the applicable charges, from your Insurance Agent or Intermediary or Policy Document issued by the Insurance Company.
    • The fund is managed by Tata AIA Life Insurance Company Ltd. For more details on risk factors, terms and conditions please read Sales Brochure carefully before concluding a sale. The precise terms and condition of this plan are specified in the Policy Contract.
    • Past performance is not indicative of future performance. Returns are calculated on an absolute basis for a period of less than (or equal to) a year, with reinvestment of dividends (if any).
    • Investments are subject to market risks. The Company does not guarantee any assured returns. The investment income and price may go down as well as up depending on several factors influencing the market.
    • Please make your own independent decision after consulting your financial or other professional advisor.
    • Tata AIA Life Insurance Company Limited is only the name of the Insurance Company, Tata AIA Life Insurance Fortune Pro, Tata AIA I Systematic Insurance Plan, Tata AIA Life Insurance Smart Sampoorna Raksha are only the names of the Unit Linked Life Insurance contract and does not in any way indicate the quality of the contract, its future prospects or returns. Various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these plans, their future prospects and returns. The underlying Fund's NAV will be affected by interest rates and the performance of the underlying stocks.
    • The performance of the managed portfolios and funds is not guaranteed, and the value may increase or decrease in accordance with the future experience of the managed portfolios and funds.
    • Premium paid in the Unit Linked Life Insurance Policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the Insured is responsible for his/her decisions.
    • Please know the associated risks and the applicable charges, from your insurance agent or the Intermediary or policy document issued by the Insurance Company.
  • L&C/Advt/2024/Jan/0294