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Tata AIA POS Saat Saath
The Tata AIA POS Saat Saath is a microinsurance savings plan that combines the benefits of savings and life cover protection under a single policy. Secure your family and fulfil your future financial goals with assured returns from the plan!
Benefits of Tata AIA POS Saat SaathC
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Get Better Returns
Receive an assured maturity benefit which can be between 105% to 135% of the total premiums paid during the premium paying term.
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Pay as Per Convenience
You can choose to pay the entire premium as Single Pay or Limited Pay for 7 years which means you pay the premium for 7 years only to enjoy life cover for a policy period of 5 or 10 years, respectively.
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Financial Protection
Your nominee can receive an assured death benefit to secure their future financial obligations in your absence, provided the policy is in force.
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Preferential Rates for Women
Women policyholders can benefit from preferential premium rates payable towards their policy, subject to policy terms and conditions.
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No Medicals Required
Get life cover and other policy benefits without the hassle of undergoing any medical tests.
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Income Tax Benefits
Avail Income Tax# benefits as per applicable tax laws.
Why Choose Tata AIA Life Insurance?
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77 Lakh+
Families protected so far%
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Express Claim Settlement
Get your claims settled under 4 hours*
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500+ Branches
Presence across major cities in India
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Pay as Per Convenience
Flexibility to choose premium payment mode as per convenience
*T&C apply
Eligibility Criteria of Tata AIA POS Saat Saath
Minimum Entry Age |
18 years |
Maximum Entry Age |
50 years |
Maximum Maturity Age |
Single Pay: 55 years Limited Pay: 60 years |
Policy Term |
Single Pay: 5 years Limited Pay: 10 years |
Premium Paying Term |
Single, 7 years |
Minimum Basic Sum Assured |
₹5,000 (in multiples of 1,000 after that) |
Maximum Basic Sum Assured |
₹2,00,000 |
All references to age are as on last birthday
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Frequently Asked Questions on Tata AIA POS Saat Saath
Why are savings plans important?
A savings plan enables you to save money regularly and build a savings corpus over a certain period. The accumulated funds can help you fulfil your future financial goals and meet your family’s financial obligations.
Moreover, savings plans comprise a life cover that can secure your family's future in the event of your untimely demise.
How are savings plans different from other life insurance plans?
A term insurance plan is unlike a savings plan that offers only a life cover and no savings benefit. Savings plans allow you to save money during the policy term and offer an assured return on maturity. Hence, savings plans are also unlike Unit-Linked Insurance Plans that invest in market-linked funds and returns are not guaranteed.
When does a savings plan lapse?
If you miss paying the policy premium on the due date, you will be given a grace period of one month or 15 days (depending on the mode of the policy purchase) after the due date of the unpaid policy premium. If you cannot pay your premium during this grace period, your policy will lapse, and you will not be able to receive any of the policy benefits until the policy has been revived.
What are the most common reasons for buying savings policies?
People buy savings policies to fulfil their financial obligations.
Some of them are:
Retirement savings
Children’s education/marriage
Buying a home/car
Starting a small business
Paying off loans and debts
Making investments
How is the premium of this savings plan determined?
The premium of this savings plan is determined based on three factors:
Your age
Gender
Basic sum assured you choose.
What is the premium paying frequency available under this policy?
You can choose a premium paying frequency as per the given options:
Annual
Half-yearly
Quarterly
Monthly
Is it possible to increase the basic sum assured above the given limit?
The maximum basic sum assured under the Tata AIA POS Saat Saath is ₹2,00,000.
When does this policy acquire a surrender value?
This policy acquires a surrender value under both the premium paying modes – Single Pay and Limited Pay. At least one full year’s premiums should have been paid for the surrender value to be payable.
How can I revive my lapsed savings policy?
You can revive your lapsed policy within 5 years from the due date of the first unpaid premium and before the policy maturity. You will need to submit a written application to Tata AIA Life Insurance, along with your current health certificate and any other documents, as needed. The overdue premiums with interest also need to be paid.
How to file a claim under the Tata AIA Smart Income Plus?
To raise a claim for your savings plan, choose any of the following channels to contact us:
- Email us at: customercare@tataaia.com
- Call our helpline number - 1860-266-9966 (local charges apply)
- Walk into any of the Tata AIA Life Insurance Company branch offices
- Write directly to us at:
The Claims Department,
Tata AIA Life Insurance Company Limited
B- Wing, 9th Floor,
I-Think Techno Campus,
Behind TCS, Pokhran Road No.2,
Close to Eastern Express Highway,
Thane (West) 400 607.
IRDA Regn. No. 110
Can I file a claim to access my maturity benefit?
You may only file a claim to access the maturity benefit on policy maturity. There is no provision for filing any claims to avail of these benefits before the policy matures.
Who can claim the death benefit on my policy?
The nominee selected by you and mentioned in the policy proposal form should file the claim for the death benefits after your demise. Please ensure that the nominee details are correctly mentioned, and all the information is up to date.
What are the documents required for a claim settlement?
Please click here to know the list of documents needed for the claim intimation and settlement process.
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Disclaimer
- The complete name of Tata AIA POS Saat Saath is Tata AIA Life Insurance POS Saat Saath (UIN: 110N134V04) - A Non-Linked Non-Participating Individual Life Micro Insurance Savings Plan
- %77,26,727 families protected till December ’23.
- *Applicable to only non-early claims with more than 3 years of policy duration, non-investigation cases, up to Sum Assured of Rs. 50 lakhs. Applicable for branch walk in. Time limit to submit claim to Tata AIA Life Insurance is 2 pm on working days. Subject to submission of complete documents. Not applicable for ULIP policies and open title claims.
- ·#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 implications mentioned anywhere on this site. Please consult your own tax consultant to know the tax benefits available to you.
- 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.
- Policies sourced through PoS Channel will not have any medical examination. This plan is not a guaranteed issuance plan, and it will be subject to Company’s underwriting and acceptance.
- All Premiums and interest payable under the policy are exclusive of the taxes, rider premiums, underwriting extra premiums, loading for modal premiums, if any which will be entirely borne/ paid by the Policyholder, in addition to the payment of such Premium or interest. Tata AIA Life shall have the right to claim, deduct, adjust, and recover the amount of any applicable tax or imposition, levied by any statutory or administrative body, from the benefits payable under the Policy.
- L&C/Advt/2024/Oct/3077
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