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A Non-Linked, Participating Individual Life Insurance Savings Plan (UIN: 110N133V03)

A Non-Linked, Participating Individual Life Insurance Savings Plan (UIN: 110N133V03)

Give your long-term savings the diamond advantage

Give your long-term savings
the diamond advantage


Tata AIA
Diamond Savings Plan

Dreams come true when you plan them through. Start with a savings plan that not only saves your wealth over the years but also offers you the benefits when you need them.


Tata AIA
Diamond Savings Plan

Dreams come true when you plan them through. Start with a savings plan that not only saves your wealth over the years but also offers you the benefits when you need them.

Guaranteed* income and bonuses~ with added power of protection

Guaranteed* income and bonuses~ with added power of protection

Life cover to protect your family from uncertainties 

Life cover to protect your family from uncertainties 

Tax Savings as much as Rs. 46,800#

Tax Savings as much as Rs. 46,800#

Get guaranteed* income + bonus~ + protection

Get guaranteed* income + bonus~ + protection

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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.


    Plan Snapshot

    Personalise your plan as per your priorities.

    • Dual Benefit 
      Get guaranteed* income during policy term and death benefit in case of death during policy term 

    • Additional Bonuses~
      Be eligible for compound reversionary bonus and terminal bonus

    • Flexible Payment Options
      Annually/Half Yearly/
      Quarterly/Monthly 


      *T&C apply

    • Choose payment term of 5/6/8/12 years
      Get income term of 9/10/13/15 years
    • Add-on security (Riders)$

      • Get coverage for risks like Accidental Death, Disability, Critical Illnesses, Hospitalization and waiver of Premium benefits through riders
    Need assistance?
    Let our experts get back to you.
     

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    Our experts are happy to help you!

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    Benefits of Tata AIA Diamond Savings Plan – A Guaranteed* Savings Plan to Fulfil Your Dreams

    Get Guaranteed Income

    Get Guaranteed Income

    As a life insurance savings policy, the policy allows you the opportunity to create a long-term and disciplined savings habit and receive guaranteed* income benefits.

    *T&C apply

    Life Cover Protection

    Life Cover Protection

    Apart from creating and generating your savings under the policy, you can also protect your family and offer them financial security with the life cover under the savings plan.

    Long-Term Savings

    Long-Term Savings

    This savings plan will not only be a part of your financial planning but also create an emergency fund for future use or even create a retirement plan for your golden years.

    Dual Benefits

    Dual Benefits

    Enjoy dual benefits of guaranteed* income during the policy term and growth of investments through bonuses that accumulate based on Company’s performance

    Bonuses

    Bonuses

    A compound reversionary bonus~ will start accumulating annually with the first policy anniversary and is calculated as a percentage of the Assured Benefit. Your savings plan can also be eligible for a terminal bonus which is also a percentage of the Assured Benefit and will be paid out in accordance with certain conditions being fulfilled under the savings plan.

    Tax Benefits

    Tax Benefits

    Your policy also allows you to claim tax^ benefits on the premiums paid and the benefits of the policy. Under Section 80C and 10(10D) of the Income Tax Act, the premiums paid towards the policy and the maturity benefit will be eligible for tax, as per the prevailing tax laws.

    Highlights of Tata AIA Diamond Savings Plan

    • Regular Income

      The savings policy enables you to earn a guaranteed* regular income after the premium payment term until maturity. Between the end of the premium payment term and the maturity, you can choose a payout mode for your regular income.

    • Choice of Riders

      You can choose from optional riders$, each with unique benefits, to add to your life insurance policy. With the benefits under the selected rider/riders, you can opt for additional protection for your family in case of your accidental death, disability, Critical Illnesses, Hospitalization expenses, etc., that leads to additional expenses or a loss of income.

    • Low-risk Investment

      The guaranteed* income and regular income benefits under this savings plan offer a low-risk investment option for policyholders and investors who seek assured and non-market-linked returns on their investments.

    • Pay as per convenience

      You get to choose the premium payment term of your policy as per the duration of your policy term. Additionally, you can also choose from the annual, semi-annual, quarterly or monthly premium payment modes as per your needs and convenience.

    Riders To Enhance Your Plan Coverage

    Tata AIA Vitality Protect

    A Non-Linked, Non- Participating Individual Health rider (UIN:110B046V02) 

    Covers risks like Death, Accidental Death/Disability, Critical Illnesses and Terminal Illness

    Wellness program1 with up to 10% upfront premium discounton first year rider premium

    Flexibility to receive benefit as combination of lump-sum and income for fixed period, income till survival of partner, or as waiver of future premiums

    Know More

    Tata AIA Vitality Health

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

    3C Protection: Cancer, Cardiac and Critical Illnesses along with Hospitalization and Accidental Disability Benefit

    Wellness program1 with up to 10% upfront premium discounton first year rider premium

    The rider provides coverage against both major illnesses, and minor injuries or illnesses, while allowing multiple claim payouts
     

    Know More

    Tata AIA Life Insurance Non-Linked Comprehensive Protection Rider 

    A Non-Linked, Non- Participating Individual Health Rider
    (UIN: 110B033V02)

    You can choose one or more benefit options (risk covers), including death, accidental death / disability, critical illness and terminal illness

    Flexibility to receive benefit as combination of lump-sum and income for fixed period, income till survival of partner, or as waiver of future premiums
     

    Know More

    Tata AIA Life Insurance Non-Linked Comprehensive Health Rider 

    A Non-Linked, Non- Participating Individual Health Rider
    (UIN: 110B031V02)

    You can choose one or more benefit options (risk covers), from a list of 5 available options, including disability, hospitalization, and illness

    The rider provides coverage against both major illnesses, and minor injuries or illnesses, while allowing multiple claim payouts

     

    Know More

    Plan Eligibility

    Premium Payment Term (PPT)/ Policy Term (PT)/Min/Max Entry Age (Age as on last birthday)

    Premium Payment Term

    Policy Term

    Income Term

    Minimum Entry Age#

    Maximum Entry Age#

    5

    15

    10

    3

    55

    5

    20

    15

    0

    55

    6

    15

    9

    3

    55

    8

    18

    10

    0

    60

    12

    25

    13

    0

    60

    Premium (₹) (Premium in multiples of 10000)

    Minimum: ₹18,000/- per annum

    Maximum: No Limit (subject to underwriting guidelines)

    Basic Sum Assured

    11 times the Annualised Premium

    Premium Payment Mode

    Annual/Half-yearly/Quarterly/Monthly


    #
    Reference to age is as on the last birthday

     

    Documents Required

    PAN card

    Bank statement

    (for the previous 6 months)

    Salary Slip

    Aadhar Card

    Income Tax Reciept

    Frequently Asked Questions

    What is the income term offered by Tata AIA Diamond Savings Plan?

    Under the Diamond Savings Plan from Tata AIA Life Insurance, you have the flexibility to choose from the following income terms, depending on the policy term and the premium payment term.

    • For a 15-year policy with a 5-year premium payment term, the income term is 10 years
    • For a 20-year policy with a 5-year premium payment term, the income term is 15 years
    • For a 15-year policy with a 6-year premium payment term, the income term is 9 years
    • For an 18-year policy with an 8-year premium payment term, the income term is 10 years
    • For a 25-year policy with a 12-year premium payment term, the income term is 13 years

    What is the premium payment frequency for this life insurance investment plan?

    You can choose from the following premium payment frequencies

    • Annual 
    • Half-yearly
    • Quarterly
    • Monthly 

     

    What documents would I require to buy an insurance policy?

    To buy an insurance policy, you need to submit the following mandatory documents.

    Proof of address:

    The following documents are accepted as valid proof of your address.

    • Bank Statement (or passbook) with the latest entries for six months 
    • Aadhaar card
    • Passport
    • Voter's ID
    • Driving license
    • Electricity/telephone bill
    • Ration card

    Proof of identity:

    Some of the documents that are accepted as valid proof of your identity include:

    • PAN card
    • Aadhaar card
    • Passport
    • Driving license

    Documents showing proof of income:

    These documents, which are required only for a few plans, include:

    • Salary slips of the previous 3 months
    • Income tax returns/Employer certificate
    • Bank statement of the previous 6 months
    • Latest Form 16

    Disclaimer

    • The complete name of Tata AIA Diamond Savings Plan is Tata AIA Life Insurance Diamond Savings Plan (UIN: 110N133V03) - A Non-Linked, Participating Individual Life Insurance Savings Plan.
    • *A Guaranteed Income of Assured Benefit shall be paid annually commencing from the end of next policy year after premium payment term till maturity of the Policy or till death of the Life Insured, whichever is earlier
    • ~Compound Reversionary Bonus and Terminal Bonus will be based on Company’s performance and are not guaranteed.
    • ^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 benefit available to you.
    • #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. 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.
    • $Riders are not mandatory and are available for a nominal extra cost. For more details on the benefits, premiums and exclusions under the riders please refer to the Rider Brochure or contact our Insurance Advisor or visit our nearest branch office.
    • 1Tata AIA Vitality - A Wellness Program that offers you an upfront discount at policy inception. You can also earn premium discount / cover booster (as applicable) for subsequent years on policy anniversary basis your Vitality Status (tracked on Vitality app) 
    • Vitality is a trademark licensed to Tata AIA Life by Amplify Health Assets PTE. Limited, a joint venture between Vitality Group International, INC. and AIA Company Limited. The assessment under the wellness program shall not be considered as a medical advice or a substitute to a consultation/treatment by a professional medical practitioner.
    • 2On 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, HospiCare. 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 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.
    • Please refer rider brochures for additional details on health and wellness benefits.
    • 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.
    • This product is underwritten by Tata AIA Life Insurance Company Ltd.
    • This 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.
    • This product will be offered only to Standard lives.
    • For more details on risk factors, terms and conditions, please read sales brochure carefully before concluding a
    • sale. 
    • L&C/Advt/2023/Oct/3594

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