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Individual, Non-Linked, Participating Life Insurance Savings Plan (UIN: 110N153V02)

Individual, Non-Linked, Participating Life Insurance Savings Plan (UIN: 110N153V02) 

A Savings Plan that
Adds Value All Through Life

A Savings Plan that
Adds Value All Through Life


Tata AIA
Value Income Plan

Secure a second income for your future by investing in a value-added savings plan that offers exciting returns while experiencing the peace of mind that only a life cover can assure.


Tata AIA
Value Income Plan

Secure a second income for your future by investing in a value-added savings plan that offers exciting returns while experiencing the peace of mind that only a life cover can assure.

Enjoy Guaranteed* Maturity Benefit 

Enjoy Guaranteed* Maturity Benefit 

Get cash bonus^ annually or accumulate all bonuses to build a larger corpus

Get cash bonus^ annually or accumulate all bonuses to build a larger corpus

Two plan options to choose from – Endowment or Endowment with life cover till age 100

Two plan options to choose from – Endowment or Endowment with life cover till age 100

*T&C apply

*T&C apply

Get this savings plan with attractive bonus^ and life cover

Get this savings plan with attractive bonus^ and life cover

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    TATA AIA Life Insurance Co. Ltd will send you updates on your policy, new products & services, insurance solutions or related information. Select here to opt-in.


    Plan Snapshot

    Personalise your plan as per your priorities.

    • Maturity Benefit options

      • Guaranteed* Maturity Benefit + Terminal Bonus^
      • Guaranteed* Maturity Benefit + Accumulated Cash Bonus^ + Terminal Bonus^

    • Option to extend life cover till 100 years

    • Pay while the sun shines
      with option to pay off all premiums within a shorter period

    • Add-on security (Riders)$

      • Accidental Death
      • Accidental Total Disability
      • Critical Illness
      • Hospitalization Benefit
      • Term Benefit
    • Tax benefits#
      as per existing laws
    • Disciplined Savings 
      Save gradually to save enough to spend the future with financial security 
    Need advice on a new plan?
    Let our experts get back to you.
     

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    TATA AIA Life Insurance Co. Ltd will send you updates on your policy, new products & services, insurance solutions or related information. Select here to opt-in

    Benefits of Tata AIA Value Income Plan

    Life Cover Protection

    Life Cover Protection

    The choice between two plan options lets you select a life cover option that is best suited for you and your family’s needs. You can opt for the extended Life Cover till age 100 years under one of the options for a longer financial safety net for your loved ones.

    Disciplined Savings

    Disciplined Savings

    The savings policy helps you save money regularly so that you can accumulate a financial corpus on maturity and meet all your financial commitments. Such a savings plan also helps keep your family’s dreams and goals secure so that they can live a worry-free life.

    Financial Security

    Financial Security

    The policy guarantees a death benefit pay out to your nominee/family in case of your demise during the policy term.

    Maturity Benefit

    Maturity Benefit

    Depending on which one of the two plan options you select, the maturity benefit can either comprise the Guaranteed* Maturity Benefit and a Terminal Bonus (if any) or the Guaranteed* Maturity Benefit, Accumulated Cash Bonus (if any), and Terminal Bonus (if any).

    Survival Benefit

    Survival Benefit

    With the choice of two plan options, you can choose to receive the cash bonus (if any), starting from after the second policy anniversary. Alternatively, you can choose to accumulate the cash bonus^ (if any) and receive the pay out on death/surrender/maturity.

    Tax Benefits

    Tax Benefits

    With this plan, you can avail for tax# benefits as per applicable income tax laws

    Highlights of Tata AIA Value Income Plan

    • Limited Premium Pay

      With the Limited Pay premium payment term, you can pay off all the policy premiums within a shorter period while you enjoy the rest of the policy term with the policy benefits and without the obligation of paying premiums for the whole tenure.

    • Extended Life Cover

      Keep your family secure with an extended life cover option for up to 100 years of age. A longer life cover ensures longer financial stability for your loved ones and enables you to lead a worry-free life without having to worry about your loved ones’ future needs.

    • Optional Riders

      Customise your savings policy and protect your loved ones with optional rider$ benefits that cover multiple risks like Hospitalization expenses, Critical Illnesses like cancer, Heart conditions, death, disability due to an accident, etc.

    • Choice of Policy Term

      The savings plan enables you to choose a policy term that is best suited for your life insurance coverage needs. Keep your loved ones secure with a life cover for as many years as you want, or you can even opt for a whole life cover.

    Plan Eligibility

    Plan Parameters

    Minimum

    Maximum

    Age at Entry

    (years)@

    30 days

    55 years for 5 PPT

    58 years for 6 PPT

    62 years for 7 PPT

    65 years for 8 to 15 PPT

    Age at Maturity (years)@

    18

    80

    Policy Term (PT)

    10 to 40 (Minimum Policy term: Premium Paying Term + 5 years)

    Premium Payment Term (PPT)

    5 to 15 years

    Premium (₹)

    PPT- 5 to 8: ₹50,000/- per annum

    No Limit (subject to Underwriting Policy)

      PPT- 9 to 15: ₹24,000/- per annum.  

    Premium Payment Mode

    Annual/ Half-yearly / Quarterly/ Monthly

    Plan Option

    Option 1 – Endowment Option 2 – Endowment with Extended Life Cover (ELC) till the age of 100 years

     

    @Any reference to age is as on last birthday.

    Documents Required

    PAN card

    Aadhar Card

    Income Tax Reciept

    Salary Slip

    Bank statement

    (for the last 6 months)

    How Does This Plan Work?

    Choose a Plan Option

    This savings plan offers two plan options to choose from, which can enable you to receive an Endowment benefit or an Endowment with Extended Life Cover (ELC) up to 100 years of age.

    Select the Policy Term

    You can choose a policy term of between 10 – 40 years for your savings plan and for your family’s life insurance coverage, as per your needs and convenience. A limited premium payment term of 5 – 15 years will be chosen as per the tenure of your policy to keep your savings plan active.

    Choose an Optional Rider$

    You can customise your savings policy and protect your loved ones with optional rider$ benefits that cover multiple risks like Hospitalization expenses, Critical Illnesses like cancer, Heart conditions, death, disability due to an accident, etc.

    Easy Payment Options

    Tata AIA Life Insurance lets you choose from different and secure digital payment options on the official website to make your premium payment. By selecting any one of the convenient payment channels, paying the premium and completing the purchase, you can own your Tata AIA Value Income Plan savings policy!

    Looking to buy a new insurance plan? 

    Our experts are happy to help you!

    +91

    TATA AIA Life Insurance Co. Ltd will send you updates on your policy, new products & services, insurance solutions or related information. Select here to opt-in

    Frequently Asked Questions

    General Policy Coverage Claim

    Can I avail of whole life coverage on all life insurance plans?

    All life insurance plans do not offer whole life coverage. If you want to avail of whole life coverage up to 100 years of age, you can opt for the Endowment option with Extended Life Cover till 100 years of age under the Tata AIA Value Income Plan or any other plan that offers Whole life Coverage.

    What is a survival benefit in life insurance savings plans?

    survival benefit in life insurance savings plans is when a benefit is added/payable to your policy during the policy term. While some survival benefits may be paid out during the policy tenure, others may be accrued and paid out when the plan reaches maturity.

    What are the two plan options under the Tata AIA Value Income Plan?

    Under Tata AIA Value Income Plan, you can opt for Endowment or Endowment with Extended Life Cover till the age of 100 years.

    Does the Tata AIA Value Income Plan offer surrender benefits?

    Yes, you can choose to surrender the Tata AIA Value Income Plan if the need arises. However, the premiums for two whole years should have been paid for the plan to acquire a surrender value. As far as possible, it is advisable to not surrender your savings policy so that you can make the most out of the savings corpus and the life insurance protection offered by the plan.

    Is the rider benefit paid out along with the sum assured of the base policy?

    No, the rider benefit is only paid out if the events or casualties covered under the rider take place, as per the rider’s terms and conditions.

    What happens if the policy premiums are paid after the Grace Period under the plan?

    If the policy premiums are not paid by the end of the grace period, the policy will lapse or be converted to a reduced paid-up policy based on the policy terms and conditions. However, if you make the premium payments along with interest after the grace period within 5 years from the first unpaid premium, the policy can be revived, and you can continue enjoying the coverage.

    What is the benefit of whole life coverage?

    A whole life coverage policy ensures that you and your family are protected against financial emergencies for a longer span of time. With 100 years of life cover, you can secure your family’s future even after your retirement.

    What types of claims can be filed under this savings policy?

    The policyholder’s nominee can file a death claim under this policy in case of the policyholder’s death during the policy term to claim the death benefits. If the policyholder survives the term, then the maturity benefits will be payable.

    What is the claim settlement ratio of Tata AIA Life Insurance?

    The individual death claim settlement ratio of Tata AIA Life Insurance was 99.01% in FY 2022-23~.

    Is it possible to file a claim offline under this savings plan?

    Yes, to file a claim offline under this savings policy, simply check our Tata AIA Life Insurance office branches and visit us to know more about the claim filing and settlement process.

    Disclaimer

    • The complete name of Tata AIA Value Income Plan is Tata AIA Life Insurance Value Income Plan (UIN: 110N153V02) - Individual, Non-Linked, Participating Life Insurance Savings Plan (UIN:)
    • ~Individual Death Claim Settlement Ratio is 99.01% for FY 2022-23 as per the latest annual audited figures. 
    • ^These bonuses are not guaranteed in nature. The Company may declare Cash Bonus rate annually in advance. The Cash Bonuses if declared will be applicable provided all due premiums have been paid.
    • *Guaranteed Maturity Benefit is equal to the Basic Sum Assured
    • This product is underwritten by Tata AIA Life Insurance Company Limited. The plan is 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.
    • $Riders are not mandatory and are available for a nominal extra cost. For more details on benefits, premiums and exclusions under the Rider, please contact Tata AIA Life's Insurance Advisor/Intermediary/ branch.
    • #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.
    • All Premiums are subject to applicable taxes, cesses & levies which will entirely be borne by the Policyholder along with the payment of Premium. 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. Alternatively, Tata AIA Life Insurance Company Limited has the right to deduct the amount from the benefits payable by Us under the Policy.
    • Past performance is not indicative of future performance.
    • In case of sub-standard lives, extra premiums will be charged as per our underwriting guidelines.
    • Insurance cover is available under this product.
    • L&C/Advt/2023/Oct/3519

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