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Savings Plans
A savings plan is a life insurance solution that allows you to save and accumulate funds for the future. They provide a systematic way to save for and achieve your... financial goals while providing an added layer of financial security. Tata AIA savings plans can help you fulfil all your financial goals while securing your family's future so that finances do not hamper your dreams in any way!
Make Your Dream a Reality with
Guaranteed* Returns
Make Your Dream a Reality with Guaranteed* Returns
What is a Savings Plan?
A savings plan is a type of insurance product that helps you save your money over the years and create an assured financial corpus. These funds can be used to fulfil your needs, future goals and to meet your financial commitments.
It offers two-fold benefits – generating wealth and life insurance coverage. The best saving schemes also offer death benefits. Moreover, depending on the type of savings plan you choose, it can act as your secondary source of income, thus letting you plan for the long term.
Popular Tata AIA Savings Plans
Tata AIA
Fortune Guarantee Plus
Non-Linked, Non-Participating, Individual Life Insurance Savings Plan (UIN: 110N158V13)
Tata AIA
Guaranteeed Return Insurance Plan
Individual, Non-Linked, Non-Participating, Life Insurance Savings Plan (UIN:110N152V14) | 4/5T&C apply
Looking to buy a new insurance plan?
Our experts are happy to help you!
Types of Savings Plans
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01
Unit Linked Insurance Plans
ULIPs offer the combined benefit of wealth accumulation and life insurance coverage. Under this plan, a part of your premium goes toward the upkeep of your life cover while the remainder is invested into a market-linked10 fund of your choice (e.g., equity, debt, etc.).
ULIPs come with a minimum lock-in period of 5 years and are the best saving scheme for those who want to dip their toes into market-linked investments and for investors with a higher risk tolerance. Tata AIA offers several ULIP plans for you to choose from. -
02
Money-Back Plans
Money-back plans enable you to invest in a savings plan where you get a part of the sum assured at regular intervals during the policy tenure instead of getting a lump sum amount at the end of the term.
These plans offer high liquidity and are the best saving schemes for those who need to meet immediate or fixed goals like buying a car or making loan payments. Moreover, you get a lump sum payout of the balance sum assured upon surviving the policy tenure. -
03
Guaranteed Return Plans
Guaranteed return insurance plans are non-linked plans that offer guaranteed returns in the form of monthly or annual returns over a specific period. These are the best savings schemes for those looking for low-risk financial instruments. Tata AIA Life Guaranteed Return Insurance Plan - (UIN: 110N152V14) - Individual, Non-Linked, Non-Participating, Life Insurance Savings Plan offers multiple plan options such as lump sum (endowment), regular income and whole-life income. This plan also offers maturity/death benefits and allows you to cover your spouse as well under the whole life option. -
04
Regular Income Plans
This is an umbrella term used to encompass savings plans that offer a steady source of funds over a specific period of time. These can be savings plans like money-back plans, annuity plans or post office monthly income schemes. Tata AIA offers a vast selection of regular income plans that allow you to choose the frequency of the payouts while safeguarding your family's future with a life cover.
Tata AIA Savings Plans
Key Features of the Best Savings Schemes
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![Guaranteed Maturity Benefits for Financial Security]( "Guaranteed Maturity Benefits for Financial Security")
Maturity Benefit
Savings plans offer assured maturity benefits. These can further help financially secure your loved one and offer a way to finance your family's future needs.
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![Life Cover Savings Plan]( "Life Cover Savings Plan")
Life Cover
A life insurance cover is a key feature of a savings plan. This part of the savings plan keeps you and your family secure so that your savings need not be compromised.
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![Consistent Returns with Low Risk Savings Plans]( "Consistent Returns with Low Risk Savings Plans")
Steady Returns
Savings plans are preferred for their stable and sustained returns. Most of them are also relatively low risk, so you need not worry about losing any money.
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![Customizable Premium Payments for Savings Plans]( "Customizable Premium Payments for Savings Plans")
Flexible Premium Payment Options
With a savings plan, you can opt to pay your premiums monthly, quarterly, half-yearly, annually, or as a single premium payment plan, as per your preference.
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![Accessible Savings Plans: Easy Entry Options]( "Accessible Savings Plans: Easy Entry Options")
Low Barrier to Entry
Depending on the plan of your choice and the eligibility criteria, you can start a savings plan at any stage of your life to align with your financial goals and requirements.
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![Multiple Rider Options]( "Multiple Rider Options")
Multiple Rider Options
To enhance the coverage of your savings plan, you can add one or more riders7 to your policy and ensure potential emergencies are covered and accounted for.
Benefits of Having a Savings Plan
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01
Financial Protection
A savings plan can help you achieve your lifelong financial goals, like buying a house or saving for retirement. Depending on your chosen plan, you can opt for regular payment options or a lump sum on maturity. These funds can then be used to pay for immediate expenses or obligations, ensuring sustained financial protection. -
02
Multiple Tax Saving Options
Save more with tax benefits under a savings plan! You can claim tax1 benefits under Section 80C and Section 10(10D) of the Income Tax Act. This means you can claim annual deductions on your insurance premiums and an exemption on maturity benefits as per the applicable tax laws. -
03
Life Insurance Protection for Family
A savings plan will protect your family against all odds in life with an adequate sum assured in your absence. In fact, most Tata AIA savings plans allow you to choose your sum assured amount on purchase, ensuring your family is offered a significant death benefit. -
04
Wealth Creation
Savings plans offer a disciplined and systematic way to save for your future goals. These can be things like a retirement fund, higher education costs, buying a car or house, etc. With Tata AIA's savings plans, you can steadily save up for your goals by paying regular premiums throughout the policy tenure, ensuring you get substantial returns. -
05
Added Bonuses
As and when declared by the company, your savings plan will accumulate added bonuses (as applicable under the plan opted) every year, which will add to the corpus you will receive on maturity. -
06
Retirement Savings
The best savings schemes are often ones that can also be used for retirement planning. For example, Tata AIA's monthly income plan can act as a form of income replacement during your retirement years so you and your family's post-retirement needs are covered.
Why Purchase Savings Plans Online?
Independent Purchase: When buying Tata AIA's savings plan online, you can carry out your research, refer to our plan brochures, compare different plans and make an informed decision.- Hassle-Free Experience: Our website offers online facilities that help streamline your buying process, ensuring that you get your Tata AIA savings plan with just a few clicks.
- Go Paperless and Green: We ensure minimal paperwork during the purchase and claims process. Moreover, any paperwork to be submitted can be done in the form of soft copies that can be uploaded onto our website, thereby keeping the environment clean.
- Online Discounts: Buying savings plans online from Tata AIA can make you eligible for premium discount. We also offer special discounts for women under some of our plans. There is a 2% upfront discount on first year premium for women customers on purchasing the Tata AIA Fortune Guarantee Supreme.
Why Choose Tata AIA for Savings Plans?
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Choice of savings plans
We offer a wide range of savings plans that are designed to meet your savings goals and also fulfil your life insurance needs so that your family can always be protected under a life cover.
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![Customizable Premium Payments for Savings Plans]( "Customizable Premium Payments for Savings Plans")
Flexible Premium Payment Term and Policy Term
Our savings insurance plans come with flexible premium payment terms and policy terms so that you can choose plan options that suit your financial goals.
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Comprehensive Protection
Not only do our savings plans help you with your savings goals and life insurance protection, but you can also add optional riders17 to enhance coverage and claim comprehensive protection.
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Seamless claim settlement
With an Individual death claim settlement ratio of 99.13% for FY 2023-2416, we aim to settle your claims on time so that you and your family need not have to face any financial constraints.
Who Should Opt for a Savings Plan?
Everyone can benefit from investing in a savings plan. They are incredibly flexible as they are designed to suit the financial requirements of different policyholders at different life stages. Here are some prime examples of suitable savings plan candidates:
Young Individuals
It is always best to start investing early. This way, you can create a large corpus to meet your life goals. Also, when you start early, you get the benefit of lower policy quotes since insurers charge younger individuals lower life insurance premiums.
Recently married couples
Newlywed couples have a lot of financial responsibilities and obligations that a savings plan can help with. For example, savings plans can be used to save for children's higher education costs, retirement, big-ticket expenses like buying a house, etc.
Parents who are young and have children
If you are a parent who needs to look out for their child's future, you can choose a saving plan for your child. A child saving plan will ensure that your child's dreams and aspirations receive enough support throughout their lives.
Young entrepreneurs
New business owners can highly benefit from a savings plan. It can help them plan for their future goals, support their business, and offer them a safe, low-risk investment plan option. For example, funds from a savings plan can be used to expand the business or keep things afloat during hard times.
Also Read: How Timely Savings Can Help You Achieve Your Goals
Factors to Consider Before Investing in a Savings Plan
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01
Goal setting
Start your financial planning with a goal in mind. What do you intend to save for? Are you saving for your child's further education? Will the savings be used for a future business venture, or creating a retirement plan for your family and yourself? -
02
Risk assessment
Consider your risk appetite, as this factor will change with your age, income, life stage and goals. Ask yourself if you can take up a high-risk investment or would like to settle for a low-risk savings plan that will give you assured returns on maturity. -
03
Flexibility
Always select a plan that matches your goals. Savings plans are flexible, so if you need the funds after 10 years of savings, choose a policy that will provide returns around that time. Also, choose a plan that offers multiple payout options (e.g., monthly income, lump sum, etc.) to ensure you can meet your financial obligations on time. -
04
Plan features
There are different types of savings options, each designed to meet different needs. Always go for a plan whose features are aligned with your savings goals and your financial plans. Be mindful of choosing the premiums as well so that your savings don't come to a halt.
How to Compare Different Savings Plans?
To be able to get the best savings scheme that matches your goals, fulfils your financial needs, and also provides sufficient protection to your family, you should compare savings plans on the basis of the parameters below:
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![Tata AIA: Trusted Insurer with Excellent Claim Settlement Ratio]( "Tata AIA: Trusted Insurer with Excellent Claim Settlement Ratio")
Life Insurer's Reputation
The life insurance provider's reputation and claim settlement ratio are of utmost importance. These will not only determine their ability to settle your claims effectively but also ensure guaranteed bonus additions when declared. Tata AIA Life Insurance has declared exemplary bonuses and dividends benefiting its customers.
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![Life Cover Matches Your Savings Goals]( "Life Cover Matches Your Savings Goals")
Size of Life Cover
While a savings plan is primarily meant for growing your savings, the life cover is equally crucial. Ensure that the life insurance coverage (sum assured) offered by your savings plan is enough to safeguard your family's needs in your absence.
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![Affordable Premiums Ensuring Continuous Coverage]( "Affordable Premiums Ensuring Continuous Coverage")
Premiums
Your savings plan must be affordable while still offering you adequate life insurance coverage. This ensures you can still make payments and do not have to stop paying due to a shortage of funds, resulting in a policy lapse. You can use Tata AIA's savings calculator to ensure you are offered a competitive rate.
Why Choose Tata AIA Life Insurance?
Get Guaranteed* Income
For a worry-free future
Express Claim Settlement
Get your claims settled under 4 hours8
Save Tax up to Rs 46,8006
As per applicable Income Tax laws
99.13%
Individual Death Claim Settlement Ratio9 in FY 2023 - 24
*T&C apply | 8T&C apply
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Popular Searches
- The complete name of Tata AIA Fortune Guarantee Plus is Tata AIA Life Insurance Fortune Guarantee Plus (UIN: 110N158V13) - Non-Linked, Non-Participating, Individual Life Insurance Savings Plan.
- The complete name of Tata AIA Guaranteed Return Insurance Plan is Tata AIA Life Guaranteed Return Insurance Plan UIN:110N152V14 - Individual, Non-Linked, Non-Participating, Life Insurance Savings Plan
- Tata AIA Fortune Guarantee Supreme (UIN110N163V09) - Individual, Non-Linked, Non-participating, Life Insurance Savings Plan
- *Guaranteed Income shall be total of Guaranteed annual Income plus Income Booster payable in a year. Guaranteed Income as per the chosen Income Frequency shall commence after maturity till the end of the Income Period, irrespective of survival of the life insured(s) during the Income Period.
- +Premium excluding taxes for age group of 18 to 50, Male, Standard life, Plan Option 1 (Regular Income), Policy term 15 years, Income term 30 years. Total Guaranteed Benefit: Rs. 47,49,400
- 1Income 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 implications mentioned anywhere on this site. Please consult your own tax consultant to know the tax benefits available to you.
- 2 Return of Premium shall be the sum of Guaranteed Maturity Benefit plus Milestone Benefit and shall be payable at the end of the Income Period, irrespective of survival of the life insured(s) during the Income Period.
- 3 Available under Regular Income with an Inbuilt Critical Illness Benefit option
- 4Guaranteed Annual Income (GAI) in the Regular Income option is a percentage of one Annualised Premium while in the Whole Life Income option is a percentage of the Total Premiums Paid
- 5Guaranteed Addition (Endowment option) defined as a percentage of GMB shall accrue at a simple rate for each completed policy year starting 2nd policy year, throughout the Policy Term and shall be payable on Maturity or Death whichever is earlier, subject to all due premiums being paid. GA shall accrue @ 7.5% of GMB
- 6Tax benefits of up to ₹46,800 u/s 80C is calculated at highest tax slab rate of 31.20% (including cess excluding surcharge) on life insurance premium paid of ₹1,50,000 as per old tax regime. Tax benefits under the policy are subject to conditions laid under Section 80C, 80D,10(10D), 115BAC and other applicable provisions of the Income Tax Act,1961. Good and Service tax and Cess, if any will be charged extra as per prevailing rates. The Tax-Free income is subject to conditions specified under section 10(10D) and other applicable provisions of the Income Tax Act,1961. Tax laws are subject to amendments made thereto from time to time. Please consult your tax advisor for details, before acting on above.
- 7Riders 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.
- 8Applicable 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.
- 9Individual Death Claim Settlement Ratio is 99.13% for FY 2023 - 24 as per the latest annual audited figures.
- 10Market-linked returns are subject to market risks and terms & conditions of the product. The assumed rate of returns or illustrated amount may not be guaranteed and depends on market fluctuations.
- 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 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.
- 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/3327
