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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. Read on to learn how 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!
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.
Our experts are happy to help you!
Individual, Non-Linked, Non-participating, Life Insurance Savings Plan (UIN110N163V07) | 8T&C apply
Tata AIA
A Non-Linked, Non-Participating, Individual Life Insurance Savings Plan (UIN: 110N126V05) | 6T&C apply
Tata AIA
Non-Linked, Non-Participating, Individual Life Insurance Savings Plan (UIN: 110N158V12) | 12T&C apply
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.
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.
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.
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.
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.
Savings plans come with flexible policy terms so that you can plan your financial goals accordingly and fulfil them through the benefits offered under the plan.
This will vary with the savings plan you choose. For example, some savings plans will have a minimum entry age of 0 years while others will have it be 18 years. Tata AIA's Guaranteed Return Insurance Plan has different minimum entry ages depending on the plan option you choose (e.g., 45 years for the whole life income option). We recommend checking the policy brochure of your chosen plan to ensure your eligibility before 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.
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.
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.
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.
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.
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.
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.
With an Individual death claim settlement ratio of 99.01% for FY 2022-2316, we aim to settle your claims on time so that you and your family need not have to face any financial constraints.
Tata AIA
Fortune Guarantee Plus
Tata AIA
Fortune Guarantee Supreme
Tata AIA
Guaranteed Return Insurance Plan
Tata AIA
Fortune Guarantee
Tata AIA
Smart Value Income Plan
Tata AIA
Smart Income Plus
Tata AIA
Money Back Plus
Tata AIA
MahaLife Gold
Tata AIA
Value Income Plan
Tata AIA
Guaranteed Monthly Income Plan
Tata AIA
Diamond Savings Plan
Tata AIA
Gold Income Plan
Tata AIA
POS Smart Income Plus
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.
Save more with tax benefits under a savings plan! You can claim tax2 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.
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.
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.
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.
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.
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:
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:
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.
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.
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.
For a worry-free future
Get your claims settled under 4 hours15
As per applicable Income Tax laws
Individual Death Claim Settlement Ratio16 in FY 2022 - 23
*T&C apply | 15T&C apply
Our experts are happy to help you!
What is the 50-30-20 savings rule?
Your after-tax income must be divided into 3 parts: 50% for your base needs, 30% for your wants and 20% for your savings. This can reduce your chances of unintentionally withdrawing from your savings. Opting for financial tools like savings plans can further lessen his chance as they offer a more disciplined approach to savings and financial planning in general.
What is the golden rule for saving money?
Always pay yourself first by regularly putting money into your savings. This can be a savings account or a savings plan. Next, only spend money earned from the investment interests. A common rule of thumb is to save 20% of your income to help secure your future.
What is the savings plan formula?
This usually refers to the 50-30-20 rule, where 20% of your monthly income multiplied by 12 is how much money you can expect to save in a given year.
Why do you need a savings plan?
A savings plan can help you protect your family against future uncertainties with life cover and also help you build your wealth over the long term in a systematic and disciplined manner.
How to buy a savings plan online?
To buy a savings plan online, you can go to the Tata AIA Life Insurance website and visit the Buy Online section to choose from our savings plans available online.
What is a grace period in a savings plan?
Our savings plans have a grace period of 15 days for the monthly premium payment mode, while the other modes have a grace period of 30 days from the due date of the succeeding premium payments.
We at Tata AIA offer several riders17 for our savings plans on our website. You can look into the specific riders offered under each savings plan by checking their policy brochures. These riders help to enhance the base coverage of your savings plan for an additional premium payment.
How do I choose the coverage of a savings plan?
You can start by considering the future needs of your family, like future financial commitments and all your financial goals/obligations, as well as any emergency needs, such as medical expenses. Adding all these expenses should give you a ballpark estimate of how much coverage you should opt for. For a more accurate number, you can use our savings calculator.
What premium payment modes can I choose under Tata AIA savings plans?
Under our savings plan, you can pay your premiums on a monthly/quarterly/half-yearly/annual basis. You can also opt for a single premium payment under your Tata AIA savings plan.
The minimum and maximum premium payment for a savings plan will depend on the plan, and the sum assured you select. Remember that the premiums will be divided into two portions, of which one part will provide life cover to your family whilst the other will be part of the savings.
Yes, some savings plans offer a return of premium benefit at the end of the income period. With Tata AIA Fortune Guarantee Plus - (UIN: 110N158V12) - Non-Linked, Non-Participating, Individual Life Insurance Savings Plan, you will receive your premiums13 back.
You can choose savings plans that give payouts on a monthly or annual basis and as a regular income, monthly income, or as a lump sum.
When can I claim my savings plan's benefits?
Savings plans are divided into two parts – savings and life insurance. Therefore, there are two main claims you can file. The first would be a death benefit, which your family can file in case of your untimely demise during the policy tenure. The second would be a maturity benefit, which is the savings corpus that you claim if you outlive the savings plan term.
Some savings plans also offer a loan facility, which can be claimed in case of emergencies if you have held the policy for a specific number of years.
How do I file an online claim on my savings plan?
You can file a claim on your savings plan by getting in touch with us in the following ways:
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
What are the documents needed to file a claim?
The main documents you need when filing a claim would be the filled and signed claims form and a copy of your policy certificate. Other documents you may need will depend on the nature of your claim. For example, a death benefit claim will require the policyholder's death certificate.
Please click here to know the list of documents needed for the claim intimation and settlement process.
How can a savings plan claim be processed if the nominee is not in India?
If the nominee is outside India and wants to file a claim, they can upload the attested copies of their documents online or send them to us by email. To file the claim offline, the nominee can send the documents to their representative in India, who can come to any of our offices and file the claim.
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