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Financial Planning

Financial planning refers to the process of managing the finances to reach your financial goals. Defining financial objectives and making a... Read more suitable plan are the key steps in it. Moreover, regular review and portfolio adjustment are important to optimise the strategy. One must understand their current financial position and determine future targets to create an appropriate plan. Read less

Financial planning refers to the process of managing the finances... Read more to reach your financial goals. Defining financial objectives and making asuitable plan are the key steps in it. Moreover, regular review and portfolio adjustment are important to optimise the strategy. One must understand their current financial position and determine future targets to create an appropriate plan. Read less

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Invest ₹15,000/month¹, Get ₹2.3 Cr

tax-free² returns (@ 19.87%)

All funds rated 4 or 5 stars³

Wealth creation + Life cover

Zero LTCG tax²

Zero premium allocation charge

In this policy, the investment risk in investment portfolio is borne by the policyholder.

¹Illustrative Returns @4%: ₹23.8 Lakh | @8%: ₹43.2 Lakh

Policy Term: 20 years. Past performance is not indicative of future performance. 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.

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Pay (Total)

₹11,99,016

Get Maturity Benefit

Based on assumed rate of return

₹34.57 Lakh

As per actual past performance

₹70.50 Lakh

@20.37%

Additional Benefits

Life Cover (including Terminal Illness Cover): ₹22.8 Lakh

Accidental Death Cover: ₹11.43 Lakh

Accidental Total & Permanent Disability: ₹11.43 Lakh

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Tata AIA Premier SIP is a combination of the Tata AIA Smart SIP - Non-participating, Unit-linked, Individual Life Insurance Savings Plan (UIN: 110L174V02) and Tata AIA Health Buddy - Non-participating, Non-Linked, Individual Health Product (UIN:110N183V01). Both Tata AIA Smart SIP and Tata AIA Health Buddy are also available for sale individually. Product option: Future Secure

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What is financial planning?

Financial planning is a defined strategy to manage your finances to obtain the best possible benefits. It involves preparing for various lifestages such as marriage, parenthood and retirement. Moreover, it requires regular review and portfolio adjustment. It can act as a roadmap to achieve your financial objectives with suitable strategies.

Types of financial planning

The following are the types of financial planning:

Tax planning
It involves managing your income, expenditure, and investments to lower the tax burden by taking advantage of available tax deductions and exemptions. It requires investing in eligible assets and proper income tax filing.

Estate planning
It entails preparing a legally binding 'will' that defines wealth distribution among your family members. It helps avoid future disputes in the family and unwanted delays due to government procedures.

Retirement planning
It involves determining the fund corpus or income you will need after retirement to lead a comfortable life. Inflation, healthcare needs and life expectancy are considered in it. NPS, EPF, PPF and annuity plans can be used for meeting retirement needs.

Philanthropic planning
It includes charity in one's long-term financial objectives. Direct donation, endowment funds, charitable trusts or personal 'wills' can be useful.

Education funding planning
It entails saving funds for the child's educational needs in school/college or overseas institutions. Sukanya Samriddhi Yojana (SSY), mutual funds, or SIPs can be used to help fulfil your child's dreams.

Investment planning
It involves choosing suitable investment instruments to protect your family's financial future. It requires finding the right investment avenues aligned with your needs and risk tolerance.

Insurance planning
This entails investing in appropriate insurance policies to safeguard your family during unforeseen events. Life or health insurance, along with suitable riders, can offer the required protection.

Budgeting
It is the preparation of a monthly or yearly plan for your savings and expenses based on your income. It is the foundation of all your financial decisions that help you decide how to manage your money. The 50/30/20 rule and zero-budgeting are commonly used strategies.

How to create a financial plan?

Here is how you can create a financial plan:

Step 1: Define your financial goals

Identify specific, measurable and time-bound objectives, such as buying property, funding education or retiring comfortably at a certain age.

Step 2: Assess your current financial position

Calculate your total income, regular expenses, existing assets, outstanding liabilities and current savings to understand where you stand financially today.

Step 3: Create a realistic budget

Allocate your income purposefully across necessities, discretionary spending and savings, treating savings as a mandatory expense rather than an option.

Step 4: Build an emergency fund

Set aside three to six months of living expenses in liquid instruments to handle unexpected situations without disrupting long-term financial plans.

Step 5: Develop an investment strategy

Choose appropriate investment instruments based on your goals, risk tolerance and timelines, ensuring proper diversification across asset classes for balanced growth.

Step 6: Review and adjust regularly

Examine your financial plan periodically to accommodate life changes, income variations, or market shifts, keeping your strategy aligned with evolving priorities.

Popular Tata AIA Investment Plans

Tata AIA Premier SIP

Tata AIA Premier SIP is a combination of the Tata AIA Smart SIP, a non-participating, unit-linked, individual life insurance savings plan (UIN: 110L174V02), and Tata AIA Health Buddy, Non-participating, Non-Linked, Individual Health Product (UIN:110N183V01). Both Tata AIA Smart SIP and Tata AIA Health Buddy are also available for sale individually.

Tata AIA

Premier SIP

Multicap fund delivered 23.21% returns (Benchmark: 16.65%)⁴
All funds rated 4 or 5 star³ by Morningstar⁵
Payouts are tax² exempted

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Tata AIA Param Raksha Life Pro+

This advertisement is designed for combination of benefits of following individual and separate products named (1) Tata AIA Smart Sampoorna Raksha Supreme Unit Linked, Non-Participating Individual Life Insurance Plan (UIN: 110L179V02) and (2) Tata AIA Health Buddy, Non-Participating, Non-Linked, Individual Health Product (UIN: 110N183V01). These products are also available for sale individually without the combination offered/suggested.

Tata AIA

Param Raksha Life Pro +

Multi Cap Fund delivered 23.21% returns (Benchmark: 16.65%)⁴
All funds rated 4 or 5 stars³ by Morningstar⁵
Get terminal illness cover with Term booster⁶ + high life cover

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Benefits of financial planning

Building a financial plan offers various benefits, some of which are as follows:

Tax efficiency
Optimises your tax burden through deductions and exemptions, allowing potential gains from savings and investments.

Improved money management
Brings clarity to income and expenses, which helps control overspending, ensures systematic saving and informed investment decisions for wealth building.

Goal achievement
Provides a structured approach to reach short-term and long-term objectives through disciplined saving and strategic investing aligned with your priorities.

Risk management
Identifies potential financial risks and implements necessary measures through insurance and diversification to minimise losses and preserve capital.

Financial security
Creates a safety net through emergency funds, adequate insurance and diversified investments that protect your family during unforeseen circumstances.

When to create a financial plan?

The following are the lifestages when you can consider creating a financial plan:

Early career
Starting financial planning in your twenties provides maximum time for wealth accumulation through the power of compounding on regular savings and investments.

Major life events
Marriage, parenthood, or buying a home requires reassessing finances, adjusting budgets and aligning goals with new responsibilities and priorities.

Income changes
Promotions, job switches or salary increments demand revaluation of savings rates, investment allocations and upgrading insurance covers to match increased income.

Mid-career phase
Your thirties and forties are important for aggressive wealth building, balancing multiple goals like children's education, property purchases and retirement planning.

Pre-retirement years
As retirement approaches, shift focus on capital preservation, debt reduction and ensuring adequate corpus for post-retirement lifestyle and healthcare needs.

Health concerns
Medical issues highlight the importance of adequate health insurance, emergency funds, and reviewing existing coverage to handle treatment costs without financial burden.

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Conclusion

Financial planning enables you to take control of your funds and build a secure future through systematic management of income, expenses, and investments. It is not limited to wealthy individuals; anyone with a regular income can benefit from structuring their finances thoughtfully. The key is starting early, staying disciplined, and reviewing your plan regularly as life circumstances evolve.

What does financial planning mean?

Financial planning is the process of setting financial goals, evaluating your resources, and creating strategies to manage income, expenses, savings, and investments to reach those goals.

What does long-term financial planning mean?

Long-term financial planning focuses on achieving goals that are years or decades away, such as retirement or buying a house. It involves consistent saving and investing to grow wealth over time.

What does short-term financial planning mean?

Short-term financial planning deals with immediate goals, usually within a year, like paying off debts, taking an international trip or building an emergency fund. It emphasises on budgeting and liquidity.

How can one create a financial plan?

Start by understanding your financial goals, risk tolerance, and timeline. Diversify your investments across different assets, review them regularly, and adjust your plan as your situation changes.

What is the importance of financial planning?

Financial planning helps you manage funds efficiently, prepares you for emergencies, achieves your goals, provides financial security, reduces stress, and ensures your income, savings, and investments work together.

What are the 7 essential steps of financial planning?

The seven steps of financial planning are:
● Set financial goals ● Assess your current financial situation ● Build a financial plan ● Implement the plan ● Monitor your progress ● Review and adjust as needed ● Repeat the process regularly

What is involved in the financial planning process?

The financial planning process is a step-by-step approach. Assess your finances, set goals, create a plan, implement it, track progress, and make adjustments to stay on track toward financial stability and long-term objectives.

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.
Param Raksha Life Pro + is designed for combination of benefits of following individual and separate products named (1) Tata AIA Smart Sampoorna Raksha Supreme Unit Linked, Non-Participating Individual Life Insurance Plan (UIN: 110L179V02) and (2) Tata AIA Health Buddy, Non-Participating, Non-Linked, Individual Health Product (UIN: 110N183V01). Both Smart Sampoorna Raksha Supreme and Tata AIA Health Buddy are also available for sale individually.
Health Buddy is part of the wellness offerings of TATA AIA Health Buddy. It is the customer’s sole discretion to avail the services. All medical-related services will be directly provided by the Service Providers and not by Tata AIA Life Insurance. These services shall be subject to the availability of the Service Provider. Tata AIA Life Insurance shall not be liable for any liability arising due to customer opting to avail this feature from the Service Providers. For more details on the benefits covered, please refer to the website, contact our Insurance Advisor/Intermediary, or visit our nearest Branch Office.
Tata AIA Premier SIP is a combination of the Tata AIA Smart SIP, a non-participating, unit-linked, individual life insurance savings plan (UIN: 110L174V02), and Tata AIA Health Buddy, Non-Participating, Non-Linked, Individual Health Product (UIN: 110N183V01). Both Tata AIA Smart SIP and Tata AIA Health Buddy are also available for sale individually.
¹Illustration shows a monthly premium of ₹15,000 for Tata AIA Premier SIP for a 30-year-old male, standard life, premium payment term: 10 years, policy term: 20 years with 100% investment in Tata AIA Multi Cap Fund in Future Secure plan option. 4% and 8% are assumed rates of return. 19.87% is the 5-year return of Nifty 500 Index as of October'25. Maturity amount: ₹23,75,740 at 4% returns, ₹43,20,914 at 8% returns and ₹ 2,33,98,560 at 19.87% returns. The fund value calculation is done by projecting the past returns of Nifty 500 Index after adjusting for all expenses in Tata AIA Premier SIP. The above values have been calculated assuming 19.87% p.a. gross investment returns, which is the past 5-year return of Nifty 500 Index as of October'25..
Some benefits are guaranteed, and some benefits are variable with returns based on the future performance of your insurer carrying on life insurance business. If your policy offers guaranteed benefits, then these will be clearly marked “guaranteed’ in the illustration table on this page. If your policy offers variable benefits, then the illustrations on these pages will show two different rates of assumed future investment returns. Currently the gross investment returns are stipulated as 4% p.a. and 8% p.a. These assumed rates of return are not guaranteed, and these are not the upper or lower limits of what you might get back, as the value of your policy is dependent on a number of factors including actual future investment performance.
²No Goods and Service Tax shall be applicable on Individual life insurance products as per prevailing laws. Tax laws are subject to amendments from time to time. Income Tax benefits would be available as per the prevailing income tax laws, subject to fulfillment of conditions stipulated therein. The Tax-Free income is subject to conditions specified under section 10(10D) and other applicable provisions of the Income Tax Act,1961. 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.
³All funds open for new business which have completed 5 years since inception are rated 4 or 5 Star by Morningstar as of August 2025.
⁴5-year computed NAV for Multi Cap Fund as of November 2025. Other funds are also available. Benchmark of this fund is S&P BSE 200.

⁵©2025 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 data published on various dates and procured from various sources and (5) shall not be construed as an 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 trading decisions, damages or other losses resulting directly or indirectly from the information.
⁶The Insured Amount under Terminal Illness with Term Booster option (in Health Buddy) is payable on earlier of death or diagnosis of Terminal illness of the Life Insured. Please refer Terms and Conditions for more details.
Unit Linked Life Insurance products are different from traditional insurance products and are subject to risk factors. The premium paid in 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. The 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 fund is managed by Tata AIA Life Insurance Company Ltd. (hereinafter the Company"). 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. 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). All investments made by the Company 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 know the associated risks and the applicable charges, from your insurance agent or the Intermediary or policy document issued by the insurance company.
The products are underwritten by Tata AIA Life Insurance Company Limited. The plans are not guaranteed issuance plans, and it will be subject to Company's underwriting and acceptance. Whilst every care has been taken in the preparation of this content, it is subject to correction and markets may not perform in a similar fashion based on factors influencing the capital and debt markets; hence this advertisement does not individually confer any legal rights or duties. This is not an investment advice, please make your own independent decision after consulting your financial or other professional advisor.
The fund is managed by Tata AIA Life Insurance Company Ltd. (hereinafter the Company).
Tata AIA Life Insurance Company Limited is only the name of the Insurance Company & the Unit linked insurance product with Tata AIA /Tata AIA Life Insurance as its prefix 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.
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.
Insurance cover is available under the product. For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale.
The products are underwritten by Tata AIA Life Insurance Company Limited.
L&C/Advt/2026/Jan/0052