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Tata AIA Shubh Smart Retire

Retirement planning involves preparing financially for a stage of life when regular employment income may no longer... Read more continue. Starting early allows you to build a retirement corpus gradually while staying aligned with your long-term financial goals. Tata AIA Shubh Smart Retire is an Individual Non-Linked, Participating Pension Plan that combines assured vesting benefits with participation in company profits through bonuses. The plan also offers flexibility through Single Life and Joint Life options, along with features that support long-term retirement planning. Read less

Plan Snapshot

Choice of My Pension (Single Life) and Family Pension (Joint Life) options

Participating in pension plan with bonus participation

Assured Benefit on Vesting² along with Reversionary and Terminal Bonuses, if declared

Optional Waiver of Premium Benefit under the Joint Life option

Partial withdrawal facility after completion of three policy years

Flexibility to commute up to 60% of the retirement corpus at vesting

Death benefit that provides financial protection during the policy term

Policy loan facility, subject to applicable terms and conditions

Retirement planning

Planning for retirement helps you prepare for future financial needs after your working years. Building a retirement corpus over time can support your lifestyle and help you manage planned expenses during retirement. Choosing a pension plan that offers retirement benefits together with life insurance protection can also provide financial security for your loved ones during the policy term.

With Tata AIA Shubh Smart Retire, you can systematically build a retirement corpus through assured vesting benefits while participating in company profits through bonuses, subject to the policy terms and conditions.

Benefits of Tata AIA Shubh Smart Retire

Choice of two plan options

The plan offers flexibility through two variants, allowing you to choose a retirement solution based on your financial needs and family requirements.

My Pension provides retirement planning for a single life.
Family Pension extends retirement planning to two lives under a single policy.

Participating pension plan

Tata AIA Shubh Smart Retire is a participating pension plan that enables policyholders to receive retirement benefits while also participating in company profits through bonuses, if declared.

Assured Benefit on Vesting

On reaching the vesting date, the policyholder becomes eligible to receive the Assured Benefit on Vesting, helping create a retirement corpus for future financial needs.

Reversionary and Terminal Bonuses

In addition to the Assured Benefit on Vesting, eligible policies may receive:

Accrued Reversionary Bonuses, if declared
Terminal Bonus, if declared

These bonuses are payable in accordance with the policy terms and contribute to the retirement corpus available at vesting.

Vesting Booster

If the entire vesting proceeds are utilised to purchase an annuity from Tata AIA, an additional 2% Vesting Booster is available, subject to the applicable policy terms and conditions.

Death benefit

The plan provides financial protection during the policy term. In the unfortunate event of the life assured's death, the death benefit payable will be the higher of:

Assured benefit on death plus accrued bonuses, if any, or
105% of the Total Premiums Paid.

Optional Waiver of Premium Benefit

Under the Family Pension option, policyholders have the option to avail of the Waiver of Premium Benefit. This feature helps ensure continuity of the policy by waiving future premiums upon the death of the primary life assured, subject to the policy terms and conditions.

Partial withdrawal facility

The plan offers a partial withdrawal facility after the completion of three policy years, subject to the applicable policy terms and conditions. This feature provides access to a portion of the accumulated value when required.

Flexible retirement options

At vesting, policyholders have the flexibility to commute up to 60% of the retirement corpus, subject to the prevailing regulations and policy provisions. The remaining corpus can be utilised as permitted under the applicable policy terms.

Liquidity features

To provide additional financial flexibility during the policy term, the plan offers liquidity through:

Partial withdrawals
Surrender benefits
Policy loan provisions

These features are available in accordance with the applicable policy terms and conditions.

Choose between 2 plan options

Option 1 – My Pension

The My Pension option is designed for individuals who wish to build a retirement corpus for themselves while securing their family's financial future during the policy term.

Under this option, you receive:

Coverage for a single life.
Assured retirement corpus payable on vesting.
Death benefit payable to the nominee in the event of the life assured's unfortunate demise during the policy term.

This option is suitable for individuals looking for a retirement-focused solution that combines long-term savings with life insurance protection.

Option 2 – Family Pension

The Family Pension option extends retirement planning to two lives under a single policy, making it suitable for couples who wish to plan for retirement together.

The option provides:

Coverage for two lives under one policy.
Continuity of benefits for the surviving life.
Option to avail of the Waiver of Premium Benefit on the death of the primary life assured, subject to the policy terms and conditions.
Support for family-oriented retirement planning.

Eligibility criteria

Plan Parameters	Minimum	Maximum
Age at Entry^#	18 years	Single Life: 75 years (last birthday) Joint Life: Primary Life – 65 years (last birthday)Secondary Life – 75 years (last birthday)
Age at Maturity (Vesting Age)^#	40 years	85 years
Premium Payment Term (PPT)	Single PayLimited Pay – 5, 7, 10 and 12 yearsRegular Pay – 10 and 12 years	As per the selected option
Policy Term (PT)	Single Pay – 10 to 50 yearsLimited Pay – 10 to 50 yearsRegular Pay – 10 to 12 years	Subject to the minimum vesting age condition
Premium	₹1,000 (subject to the minimum Sum Assured)	No limit (subject to the Board Approved Underwriting Policy)
Sum Assured	₹30,000	As per the Board Approved Underwriting Policy (BAUP)
Premium Payment Mode	Single, Annual, Half-yearly, Quarterly and Monthly	—

^#Important notes

Any reference to age is as on the last birthday.
For Joint Life policies, the minimum entry age requirement must be satisfied by the younger life assured.
For Joint Life policies, both lives must be at least 40 years of age at maturity.
The maximum vesting age is determined based on the older life assured.

What is a retirement pension plan?

A retirement pension plan is designed to help individuals accumulate a retirement corpus during their working years so they can plan for their financial needs after retirement. By investing over a chosen policy term, policyholders can work towards building a corpus that becomes available at vesting, while also benefiting from life insurance protection during the policy term.

Tata AIA Shubh Smart Retire combines assured vesting benefits with participation in company profits through bonuses, helping policyholders prepare for retirement while providing flexibility through its available plan options.

Features and benefits of retirement pension plans

Assured benefit on vesting

A retirement pension plan provides an Assured Benefit on Vesting that becomes payable when the policy reaches the vesting date. Under Tata AIA Shubh Smart Retire, eligible policies may also receive accrued Reversionary Bonuses and Terminal Bonus, if declared, in accordance with the policy terms.

Bonus participation

As a participating pension plan, Tata AIA Shubh Smart Retire provides the opportunity to participate in company profits through bonuses declared under the plan. Eligible policies may receive Reversionary Bonuses during the policy term and a Terminal Bonus at vesting, subject to declaration.

Life insurance protection

Along with retirement planning, the plan provides life insurance coverage during the policy term. In the unfortunate event of the life assured's death, the eligible death benefit is payable as specified under the policy terms.

Flexibility through plan options

The availability of My Pension and Family Pension options allows individuals to choose a retirement solution that aligns with their financial objectives and family requirements.

Liquidity features

The plan offers liquidity through features such as:

Partial withdrawal facility after completion of three policy years.
Surrender benefits.
Policy loan facility.

These features are available subject to the applicable policy terms and conditions.

Flexible retirement options

At vesting, policyholders have the flexibility to commute up to 60% of the retirement corpus, subject to the applicable regulations and policy provisions. The remaining corpus can be utilised in accordance with the prevailing policy terms.

Steps in retirement planning

Decide your retirement age

The first step in retirement planning is deciding the age at which you would like to retire. This helps determine the policy term and the time available to build your retirement corpus.
Identify your retirement goals

Assess the financial goals you want to achieve after retirement. These may include maintaining your lifestyle, meeting regular expenses, or creating a financial cushion for future needs.
Choose the right plan option

Select the option that aligns with your financial requirements.
• My Pension is suitable for individuals planning retirement for themselves.
• Family Pension is designed for those who wish to include two lives under a single policy and support family-oriented retirement planning.
Decide your premium payment option

Choose a premium payment option that suits your financial planning.
Available options include:
• Single Pay
• Limited Pay
• Regular Pay
The plan also provides multiple premium payment modes, including Annual, Half-yearly, Quarterly, and Monthly.
Build your retirement corpus

Continue your policy through the chosen policy term to accumulate an Assured Benefit on Vesting along with eligible Reversionary Bonuses and Terminal Bonus, if declared.
Review available policy features

Understand the liquidity features available under the plan, such as partial withdrawals, surrender benefits and policy loans, subject to the applicable policy terms and conditions.
Plan your vesting benefits

At vesting, you can plan how to utilise your retirement corpus. The plan allows you to commute up to 60% of the retirement corpus at vesting, subject to the applicable regulations and policy provisions.
Consider long-term retirement planning

Review your retirement planning periodically to ensure it continues to align with your financial goals and changing family responsibilities.

Retirement planning tips and resources

Set your retirement objectives

Clearly defining your retirement goals helps determine the amount of corpus you may need and the plan option that best suits your long-term financial requirements.

Start planning early

Beginning retirement planning at an early stage provides a longer period to systematically build a retirement corpus over the policy term.

Choose a suitable premium payment option

Select a premium payment option that fits comfortably within your financial budget while supporting your retirement objectives.

Consider your family’s future needs

If you wish to plan retirement for two lives under one policy, the Family Pension option may be considered based on your financial requirements.

Review policy benefits

Understanding the vesting benefits, death benefit, liquidity provisions and available plan features helps you make informed long-term planning decisions.

Use available liquidity features when required

The plan provides features such as partial withdrawals, surrender benefits and policy loans, subject to policy terms and conditions, to help address eligible financial requirements.

Understand your vesting options

Review the vesting provisions, including the flexibility to commute up to 60% of the retirement corpus, as permitted under the applicable regulations and policy provisions.

Review your retirement plan periodically

As your financial responsibilities change over time, reviewing your retirement plan periodically can help ensure it continues to support your long-term retirement goals.

Conclusion

Retirement planning is a long-term financial commitment that requires careful preparation and consistent savings. Tata AIA Shubh Smart Retire combines assured vesting benefits with participation in company profits through bonuses while offering flexibility through My Pension and Family Pension options. With features such as life insurance protection, liquidity provisions and flexible retirement options, the plan supports individuals who wish to build a retirement corpus while planning for their future financial needs.

Policy Document

Sales Literature

Customer Information Sheet

Brochure

What is Tata AIA Shubh Smart Retire?

Tata AIA Shubh Smart Retire is an Individual Non-Linked, Participating Pension Plan that helps individuals build a retirement corpus through assured vesting benefits and eligible bonuses while providing life insurance protection during the policy term.

What plan options are available under Tata AIA Shubh Smart Retire?

The plan offers two options: My Pension, which covers a single life, and Family Pension, which covers two lives under one policy and supports family-oriented retirement planning.

What benefits are payable at vesting?

At vesting, eligible policyholders receive the Assured Benefit on Vesting together with accrued Reversionary Bonuses and Terminal Bonus, if declared, subject to the policy terms and conditions.

Does the plan provide life insurance coverage?

Yes. During the policy term, the plan provides a death benefit equal to the higher of the Assured Benefit on Death together with accrued bonuses, if any, or 105% of the Total Premiums Paid, as applicable.

Can I withdraw money before vesting?

The plan offers a partial withdrawal facility after the completion of three policy years, subject to the applicable policy terms and conditions.

Is there any flexibility at vesting?

Yes. The plan provides the flexibility to commute up to 60% of the retirement corpus at vesting, subject to the applicable regulations and policy provisions.

Tata AIA Shubh Smart Retire - (UIN: 110N210V01) - Non-Linked, Participating Pension Plan Bonuses are not guaranteed.
Reversionary Bonus, Interim Bonus and Terminal Bonus, if any, are payable only if declared by Tata AIA Life Insurance Company Limited and are subject to the performance of the participating fund.
1Waiver of Premium Benefit is available only under the Family Pension (Joint Life) option. Once the waiver of premium benefit is triggered, no alterations under the policy will be allowed thereafter. The benefit is subject to policy terms and conditions.
2Vesting Benefit means the benefit payable on vesting, provided the policy is in-force and all due premiums have been paid. The benefit may comprise Assured Benefit on Vesting along with accrued bonuses, if declared, as per the terms and conditions of the policy.
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
Premium excludes the taxes, rider premiums, underwriting extra premiums, loading for modal premiums if any.
For more details on risk factors, terms and conditions please read Sales Brochure carefully before concluding a sale. The precise terms and conditions 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.
The risk factors of the bonuses projected under the product are not guaranteed. • Past performance doesn't construe any indication of future bonuses
These products are subject to the overall performance of the insurer in terms of investments, management of expenses, mortality and lapses
For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale
In case of non-standard lives and on submission of non-standard age proof, extra premiums will be charged as per our underwriting guidelines.
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.
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.
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.
Premium excludes the taxes, rider premiums, underwriting extra premiums, loading for modal premiums if any.
For more details on risk factors, terms and conditions please read Sales Brochure carefully before concluding a sale. The precise terms and conditions of this plan are specified in the Policy Contract.
Risk cover commences along with policy commencement for all lives, including minor lives.
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.
For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale.
No 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. If any imposition (tax or otherwise) is levied by any statutory or administrative body under the Policy, Tata AIA Life Insurance Company Limited reserves the right to claim the same from the Policyholder.
L&C/Advt/2026/Aug/4763