Savings plans offer a maturity benefit and a death benefit under the same policy, as applicable. You can choose between a money-back plan or an endowment plan, depending on how you want to save money and receive benefits basis your future goals and your family’s future financial needs.
Money-back plans are helpful if one needs to fulfil their short-term goals as a survival benefit is paid out at regular intervals during the policy term. And if one survives the policy term, all the premium amount will be paid out as a maturity benefit. Thus, a woman can make other investments with this corpus or utilize the funds for purchasing a dream home, a car, a gift, a vacation, etc.
Meanwhile, endowment policies are savings plans that pay out a lump sum benefit on maturity and offer life cover protection to your loved ones. Endowment policies are beneficial for fulfilling long-term goals that need lump sum funding, such as your child’s further education, a new business venture, geriatric care for your parents and so on.
When you buy an endowment policy, you can start saving a certain amount of money in the form of premiums each month, quarter or on an annual basis. When it comes to the life cover under the Tata AIA Life Insurance savings plans, in case of your untimely demise before the policy maturity, your family will receive financial assistance in the form of the death benefit sum assured. With Tata AIA Fortune Guarantee Supreme, women insured get a 2% discount on 1st first year premium.
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1860 266 9966
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