Tata AIA Life Insurance
Diamond Savings Plan 

Non-Linked, Participating Individual Life Insurance Savings Plan

There are essential life goals like retirement planning, and there are major life goals like buying your dream house. No matter what your individual goals and your family’s dreams may be, savings plans can help you achieve them on time. With guaranteed income that enables you to check off all the milestones even later in life, these plans give you the financial security you need to safeguard your future.  

Secure the dreams and goals of your family with the Diamond Savings Plan from Tata AIA Life Insurance. The plan gives you the benefit of a life cover, along with an element of disciplined savings, which help you achieve your dreams.

Key
Benefits

Guaranteed income

Guaranteed income after the premium payment term

Bonuses on Maturity

Vested Compound Reversionary Bonus and Terminal Bonus, if any on Maturity

Insurance coverage

Life insurance coverage to secure the future of your loved ones

Add-on riders

Enhanced protection through optional riders

Highlights of Tata AIA Life Insurance Diamond Savings Plan 

You have the flexibility to plan your future goals with guaranteed income
You can choose any of the additional riders to increase the protection offered
The plan gives you the freedom to pay premiums for limited periods
You can choose to pay your premiums annually, semi-annually, quarterly or monthly
You have the option to avail a loan against your policy
You can avail tax benefits as per the applicable tax laws

Add Savings Plan Riders

Tata AIA Life Insurance Accidental Death and Dismemberment (Long Scale) (ADDL) Rider  

This rider protects your family by paying them a lump sum amount in case of an accidental death
The benefits are doubled in case of certain accidental deaths or dismemberments (details in the brochure)
Know More

Tata AIA Life Insurance Waiver of Premium Plus (WOPP) Rider 

In case of death or total and permanent disability of the life insured, this rider allows all future premiums to be waived off
This benefit is valid if the death or disability occurs before the life insured attains 70 years of age or before the end of the premium payment term, whichever occurs earlier
Know More
Check eligibility Documents required

Age at entry

Minimum age at issue 
  • For a 15-year policy with a 5-year premium payment term, the minimum entry age is 3 years.
  • For a 20-year policy with a 5-year premium payment term, the minimum entry age is 0 years.
  • For a 15-year policy with a 6-year premium payment term, the minimum entry age is 3 years.
  • For an 18-year policy with a 8-year premium payment term, the minimum entry age is 0 years.
  • For a 25-year policy with a 12-year premium payment term, the minimum entry age is 0 years 
Maximum age at issue 
  • For a 15-year policy with a 5-year premium payment term, the maximum entry age is 55 years.
  • For a 20-year policy with a 5-year premium payment term, the minimum entry age is 55 years.
  • For a 15-year policy with a 6-year premium payment term, the minimum entry age is 55 years.
  • For an 18-year policy with a 8-year premium payment term, the minimum entry age is 60 years.
  • For a 25-year policy with a 12-year premium payment term, the minimum entry age is 60 years 

Policy term

 Policy term   15 years
 18 years
 20 years
 25 years 

Premium payment term

Available premium payment term options  
  • For a 15-year policy: a 5-year premium payment term or a 6 -year premium payment term
  • For a 20-year policy: a 5-year premium payment term
  • For an 18-year policy: a 8-year premium payment term
  • For a 25-year policy: a 12-year premium payment term

Premium payment mode

 Premium payment frequency options 

 Annual
 Half-yearly 
 Quarterly
 Monthly 

Sum assured

 Basic sum assured 
 11 times the Annualised Premium 
PAN card
Aadhaar card
Bank statement (for the previous 6 months)
Salary slip
Income tax receipt

Frequently Asked Questions

What is the income term offered by the Diamond Savings Plan?

Under the Diamond Savings Plan from Tata AIA Life Insurance, you have the flexibility to choose from the following income terms, depending on the policy term and the premium payment term.

  • For a 15-year policy with a 5-year premium payment term, the income term is 10 years.
  • For a 20-year policy with a 5-year premium payment term, the income term is 15 years
  • For a 15-year policy with a 6-year premium payment term, the income term is 9 years..
  • For an 18-year policy with a 8-year premium payment term, the income term is 10 years.
  • For a 25-year policy with a 12-year premium payment term, the income term is 13 years.
What is the premium payment frequency for this life insurance investment plan?

You can choose from the following premium payment frequencies

  • Annual 
  • Half-yearly
  • Quarterly
  • Monthly 
How can I raise a claim under this savings plan?

You can choose any of the following channels to reach out to us and raise a claim.

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 documents would I require to buy an insurance policy?

To buy an insurance policy, you need to submit the following mandatory documents.

Proof of address:

The following documents are accepted as valid proof of your address.

  • Bank Statement (or passbook) with the latest entries for six months 
  • Aadhaar card
  • Passport
  • Voter's ID
  • Driving license
  • Electricity/telephone bill
  • Ration card

Proof of identity:

Some of the documents that are accepted as valid proof of your identity include:

  • PAN card
  • Aadhaar card
  • Passport
  • Driving license

Documents showing proof of income:

These documents, which are required only for a few plans, include:

  • Salary slips of the previous 3 months
  • Income tax returns/Employer certificate
  • Bank statement of the previous 6 months
  • Latest Form 16
What are riders? Which rider can I purchase with the Diamond Savings Plan?

Riders are additional provisions that you can add on to your basic insurance policy, in order to enhance the protection and the benefits you receive.

With the Tata AIA Life Insurance Smart Income Plus(UIN: 110N133V02) plan, you can purchase the following riders.

 

Need help to choose the right plan?

+91

By submitting your details, you are giving your consent to receive SMS/Call by Tata AIA Life Insurance Company Limited or its representative, with reference to this solicited inquiry even though you may be registered on the DND list. L&C/Advt/2019/Jan/075