Tata AIA Life Insurance
Group Employee Benefit Plan

Group insurance plans offer insurance cover to members of a group. They can either be members of a specific society, employees of a company, or a group of loan borrowers. Tata AIA Life Insurance group insurance plans extend a myriad of benefits to employer-employee groups, and non employer-employee groups. Members of these groups can get pure term, superannuation, gratuity, and loan cover among others.  

For instance, lending institutions can protect the money they lend to borrowers by purchasing credit life insurance plans, which removes the burden of outstanding debts from the shoulders of the borrowers’ families, in the event of their untimely demise. Similarly, employers can ensure the financial well-being of the families of their employees by purchasing group term insurance plans. It also helps employers retain their workforce, while meeting the statutory obligations via group insurance plans.

Group insurance solutions benefit a variety of groups like employer-employee groups, non-employer-employee groups, and groups of loan borrowers from a common lender.

Benefits for employer-employee groups:

By purchasing group insurance, employers can ensure the financial security and well-being of their employees’ families. This is generally seen as a good practice, which motivates the employees, and increases employee satisfaction. Employers can also meet their statutory obligations by purchasing group insurance, while the premium paid by them can be treated as a business expense. This enables the employer to claim tax deductions.

The employees can also avail tax benefits^ on the premiums paid, while the funds they invest in are managed by experts.

Benefits for non employer-employee groups:

By purchasing group insurance, members of such groups can avail life cover, while credit life insurance plans provide cover against outstanding debts to the borrowers.

Group insurance policies can be purchased by either employer-employee groups, or non employer-employee groups, in order to ensure the financial well-being of the members’ families.

The non employer-employee groups can include members of a specific society, or can include borrowers from a common lender. Hence, such groups need to have a purpose of existence. Group insurance plans will also have a Master Policyholder, who will serve as the central administrator, and will act on behalf of the members of the group.

As the name suggests, group insurance plans are applicable for specific groups only eg: Employer-employee or Non-Employer Employee affinity groups. Individuals can purchase the retail plans available at Tata AIA Life Insurance.

• ^*Loyalty Additions, expressed as % of fund value, will be added at the end of each calendar month after date of commencement of policy. Loyalty Additions vary by fund size and type of fund, and will be added in the form of additional units.
• ^{^}Income Tax benefits would be available as per the prevailing income tax laws, subject to fulfilment 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.
• Tata AIA Life Insurance Group Loan Protect - A Non-Linked, Non-Participating, Group Pure Risk Credit Life Insurance Plan (UIN: 110N132V02)
• Tata AIA Life Insurance Group Term Life – Non-Linked, Non-Participating, Term Insurance Plan (UIN: 110N004V03)
• Tata AIA Life Insurance Group Sampoorna Raksha - Non-Linked, Non-Participating, Group Protection Plan (UIN: 110N154V01)
• Tata AIA Life Insurance Traditional Group Corporate Benefit Plan - An Annually Renewable Non-Linked, Non-Participating Group Savings Plan (UIN: 110N155V01)
• Linked Insurance Products 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.
• Tata AIA Life Insurance Company Limited is only the name of the Insurance Company & Tata AIA Life Insurance Group Employee Benefit Plan is only the name of the Unit Linked Life Insurance contract and does not in any way indicate the quality of the contract, its future prospects or returns.
• 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.
• 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.
• 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.
• Insurance cover is available under the product.
• The products are underwritten by Tata AIA Life Insurance Company Ltd.
• The plans are not a guaranteed issuance plan, and it will be subject to Company’s underwriting and acceptance.
• For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale.
• Participation by customers shall be on voluntary basis.
• All Contribution is subject to applicable taxes, levies, duties, cesses which will entirely be borne by the master policyholder and will always be paid by the master policyholder along with the payment of Contribution. If any imposition (tax or otherwise) is levied by any statutory or administrative body under the Policy, the insurer reserves a right to claim the same from the master policyholder. Alternatively, the insurer shall also have a right to deduct the amount from the benefits payable under the Policy.
• L&C/Advt/2023/Feb/0516