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What is a Savings Plan?
 

A savings plan offers two-fold benefits – guaranteed returns and life cover. A life insurance savings helps you save your money over the years and create an assured financial corpus that can be used to fulfil your essential needs, your future goals, and meet your financial commitments. It also acts as your secondary source of income, depending on the policy you choose, thus letting you make a financial plan for the long term.

Savings plans are particularly useful for inculcating a disciplined and regular savings habit that will yield guaranteed returns during the course of or at the end of the policy term or both. 

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    What is a Savings Plan?
     

    A savings plan offers two-fold benefits – guaranteed returns and life cover. A life insurance savings helps you save your money over the years and create an assured financial corpus that can be used to fulfil your essential needs, your future goals, and meet your financial commitments. It also acts as your secondary source of income, depending on the policy you choose, thus letting you make a financial plan for the long term.

    Savings plans are particularly useful for inculcating a disciplined and regular savings habit that will yield guaranteed returns during the course of or at the end of the policy term or both. 


     

    Key Features of a Savings Plan

    • Maturity Benefit

      Assured maturity benefits help in creating a financial plan that will be beneficial for fulfilling you and your family’s future needs.

    • Life Cover

      A life cover keeps you and your family secure so that your savings need not be compromised.

    • Steady Returns

      Savings plans are preferred for their stable returns. Since the returns on the saved funds are not market-linked, you need not worry about losing any money.

    • Flexible Premium Payment Options

      With a savings plan, you can opt to pay your premiums monthly, quarterly, half-yearly, annually, or as a single premium payment plan, as per your preference.

    • Entry Age

      Depending on the plan of your choice and the eligibility criteria, you can start a savings plan at any stage of your life and align them with your financial goals and requirements.

    • Policy Tenure

      Savings plans come with flexible policy terms so that you can plan your financial goals accordingly and fulfil them through the benefits of the plan.

    • Multiple Rider^ Options

      To enhance the coverage of your savings plan, you can add one or more riders to your policy and ensure that any unforeseen emergencies are covered.

    • Tax^^ Benefits

      With a savings plan, you can avail of tax deductions and tax exemptions under Section 80C and the maturity benefits under Section 10(10D) of the Income Tax Act, respectively.

    Types of Savings Plans

    • Monthly Income Plans

      Our monthly income plans provide the security of a monthly income along with the benefit of a life cover. By investing in a monthly income plan, you can receive a steady stream of funds every month during the plan’s income period or on the maturity of the plan.

    • Guaranteed Return Plans++

      As the name suggests, guaranteed return insurance plans ensure guaranteed return on your savings plan and help your family stay safe under a life cover. Such plans are useful for helping you meet major milestones in your life where the need for finances is paramount.

    • Money-back Plans

      Money-back plans enable you to invest in a savings plan over a specified period of time and avail of a small portion of the sum assured over the policy tenure. These plans give you the liquidity you need to meet immediate goals along with the security of a life cover.

    • Regular Income Plans

      Regular income plans are meant to help you meet your daily needs with the help of a steady source of funds. Apart from allowing you to choose the frequency of the payouts, these plans also safeguard your family’s future with a life cover.

    Why do you Need a Savings Plan?

    • Money Wallet Image
      Helps you achieve financial goals

      In today’s fast-changing world, we all require a decent amount of financial backing to achieve most of our life goals. A savings plan is the smartest way to attain your crucial life goals.

    • Brings financial discipline to your life

      A savings plan encourages you to build a habit of financial discipline in your life which is very important to lead an abundant life.

    • With suitable rider, avail of term insurance with critical illness cover - Why Choose Tata AIA Life Insurance Sampoorna Raksha Supreme?
      Provides guaranteed income + insurance coverage

      It offers assured returns which eventually secure financial freedom for you and your family. Moreover, insurance coverage is also there to safeguard your loved ones, if ever the need arises.

    • Plan provides death and survival benefit - Why Choose Tata AIA Life Insurance Sampoorna Raksha Supreme?
      Provides you with tax savings options

      Savings plans are eligible to avail of tax benefits as per the rules. 

    • Offers you flexibility

      Savings plans are available with flexible components that can be customized to suit your requirements. For example, you can avail options in funds, payouts and terms, etc.

    Why Choose a Savings Plan from Tata AIA Life?

    • Money Wallet Image
      Choice of savings plans

      We offer a wide range of savings plans that are designed to meet your savings goals and also fulfil your life insurance needs so that your family can always be protected under a life cover.

    • Clock Image
      Flexible Premium payment term and policy term

      Our savings insurance plans come with flexible premium payment terms and policy terms so that you can choose whatever suits your financial goals and make the most of it.

    • With suitable rider, avail of term insurance with critical illness cover - Why Choose Tata AIA Life Insurance Sampoorna Raksha Supreme?
      Comprehensive Protection

      Not only do our savings plans help you with your savings goals and life insurance protection, but you can also add optional riders^ to enhance to avail of comprehensive protection.

    • Plan provides death and survival benefit - Why Choose Tata AIA Life Insurance Sampoorna Raksha Supreme?
      99.01% Individual Death Claim Settlement Ratio1

      for FY 2022 - 23 as per the latest annual audited figures.

    Popular Tata AIA Life Insurance Savings Plans 

    Tata AIA Life Insurance Fortune Guarantee Plus

    (Individual, Non-Linked, Non-Participating, Life Insurance Savings Plan) • UIN: 110N158V11

    Key benefits:

    • Multiple Annuity Option feature to get second income, child education security and dream vacation

    • Get loan against the policy

    • Get tax benefits# as per applicable tax laws
    Calculate Premium Know More

    Disclaimer

    • Tata AIA Life Insurance Fortune Guarantee Plus (Individual, Non-Linked, Non-Participating, Life Insurance Savings Plan) • UIN: 110N158V11

    • This product is underwritten by Tata AIA Life Insurance Company Ltd.

    • The plan is not a guaranteed issuance plan and it will be subject to company’s underwriting and acceptance.

    • Insurance cover is available under this product.

    • 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.

    • Buying a Life Insurance Policy is a long-term commitment. An early termination of the Policy usually involves high costs and the Surrender Value payable may be less than the all the Premiums Paid.

    • In case of non-standard lives and on submission of non-standard age proof, extra premiums will be charged as per our underwriting guidelines.

    • Risk cover commences along with policy commencement for all lives, including minor lives.

    • ++"Guaranteed Annual 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. Income is payable for chosen income period of 20 to 45 years, please refer brochure for details.

    • $Return of Premium shall be the return of Total Premiums Paid (excluding loading for modal premiums, discount, any extra premium, rider premium and taxes) by the policyholder and shall be payable at the end of the Income Period irrespective of survival of the life insured(s) during the Income Period.

    • #Other options are available under this plan. Please Refer Sales Brochure for details.

    • ~Applicable for specific plan options. Please refer brochure for additional details.

    • ^Below riders are available with this plan

      Tata AIA Vitality Protect, a non-linked, non-participating, individual health rider (UIN: 110B046V02),

      Tata AIA Vitality Health - A Non-Linked, Non- Participating Individual Health rider (UIN: 110B045V02)

      Riders 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.

    • ##Medical Consultation is available under eligible policies of Tata AIA Life Insurance and these services are currently being provided by Practo. Medical Consultation feature is optional. It is the customer’s sole discretion to avail Medical Consultation and to follow the advice suggested by the service provider. All medical-related dealing will be directly with the service provider and not with Tata AIA Life Insurance. It is available only for Life Assured of active policies for select products/riders. This feature can be discontinued or service provider may be changed at any time at Tata AIA Life Insurance’s discretion. This feature is provided by a third party service provider and Tata AIA Life Insurance shall not be liable for any liability arising due to customer opting to avail this feature.

    • ^^Income Tax benefits would be available as per the prevailing income tax laws, subject to fulfillment of conditions stipulated therein. Income Tax laws are subject to change from time to time. Tata AIA Life Insurance Company Ltd. does not assume responsibility on tax implication mentioned anywhere in this document. Please consult your own tax consultant to know the tax benefits available to you.

    • &The Company may offer a premium discount on the policies sourced by the company to the Existing Customers of Tata AIA Life’s Insurance Products as on the date of application. This premium discount shall be applicable on the premiums payable in the first policy year only and may range from 1.5% to 20% depending on the Policy term and Premium payment term opted.

    • 1Individual Death Claim Settlement Ratio is 99.01% for FY 2022 - 23 as per the latest annual audited figures.

    • **All Premiums are 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.

    • L&C/Advt/2023/Oct/3665

    Tata AIA Life Insurance Company Ltd. (IRDA Regn. No. 110 ·CIN:U66010MH2000PLC128403. Registered & Corporate Office: 14th Floor, Tower A, Peninsula Business Park, Senapati Bapat Marg, Lower Parel, Mumbai 400013. Trade logo displayed above belongs to Tata Sons Ltd and AIA Group Ltd. and is used by Tata AIA Life Insurance Company Ltd under a license. For any information including cancellation, claims and complaints, please contact our Insurance Advisor/Intermediary or visit Tata AIA Life's nearest branch office or call 1-860-266-9966 or write to us at customercare@tataaia.com. Visit us at www.tataaia.com

     

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