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A Non-Linked, Participating Individual Life Insurance Savings Plan (UIN: 110N133V04)
A Non-Linked, Participating Individual Life Insurance Savings Plan (UIN: 110N133V04)
Give your long-term savings the diamond advantage
Give your long-term savings
the diamond advantage
Tata AIA
Diamond Savings Plan
Tata AIA
Diamond Savings Plan
Guaranteed* income and bonuses~ with added power of protection
Guaranteed* income and bonuses~ with added power of protection
Life cover to protect your family from uncertainties
Life cover to protect your family from uncertainties
Tax Savings as much as Rs. 46,800#
Tax Savings as much as Rs. 46,800#
Get guaranteed* income + bonus~ + protection
Get guaranteed* income + bonus~ + protection
Plan Snapshot
Personalise your plan as per your priorities.
-
Dual Benefit
Get guaranteed* income during policy term and death benefit in case of death during policy term -
Additional Bonuses~
Be eligible for compound reversionary bonus and terminal bonus -
Flexible Payment Options
Annually/Half Yearly/
Quarterly/Monthly
*T&C apply
- Choose payment term of 5/6/8/12 years
Get income term of 9/10/13/15 years -
Add-on security (Riders)$
- Get coverage for risks like Accidental Death, Disability, Critical Illnesses, Hospitalization and waiver of Premium benefits through riders
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Benefits of Tata AIA Diamond Savings Plan – A Guaranteed* Savings Plan to Fulfil Your Dreams
Get Guaranteed Income
Get Guaranteed Income
As a life insurance savings policy, the policy allows you the opportunity to create a long-term and disciplined savings habit and receive guaranteed* income benefits.
*T&C apply
Life Cover Protection
Life Cover Protection
Apart from creating and generating your savings under the policy, you can also protect your family and offer them financial security with the life cover under the savings plan.
Long-Term Savings
Long-Term Savings
This savings plan will not only be a part of your financial planning but also create an emergency fund for future use or even create a retirement plan for your golden years.
Dual Benefits
Dual Benefits
Enjoy dual benefits of guaranteed* income during the policy term and growth of investments through bonuses that accumulate based on Company’s performance
Bonuses
Bonuses
A compound reversionary bonus~ will start accumulating annually with the first policy anniversary and is calculated as a percentage of the Assured Benefit. Your savings plan can also be eligible for a terminal bonus which is also a percentage of the Assured Benefit and will be paid out in accordance with certain conditions being fulfilled under the savings plan.
Tax Benefits
Tax Benefits
Your policy also allows you to claim tax^ benefits on the premiums paid and the benefits of the policy. Under Section 80C and 10(10D) of the Income Tax Act, the premiums paid towards the policy and the maturity benefit will be eligible for tax, as per the prevailing tax laws.
Highlights of Tata AIA Diamond Savings Plan
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Regular Income
The savings policy enables you to earn a guaranteed* regular income after the premium payment term until maturity. Between the end of the premium payment term and the maturity, you can choose a payout mode for your regular income.
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Choice of Riders
You can choose from optional riders$, each with unique benefits, to add to your life insurance policy. With the benefits under the selected rider/riders, you can opt for additional protection for your family in case of your accidental death, disability, Critical Illnesses, Hospitalization expenses, etc., that leads to additional expenses or a loss of income.
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Low-risk Investment
The guaranteed* income and regular income benefits under this savings plan offer a low-risk investment option for policyholders and investors who seek assured and non-market-linked returns on their investments.
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Pay as per convenience
You get to choose the premium payment term of your policy as per the duration of your policy term. Additionally, you can also choose from the annual, semi-annual, quarterly or monthly premium payment modes as per your needs and convenience.
Plan Eligibility
Premium Payment Term (PPT)/ Policy Term (PT)/Min/Max Entry Age (Age as on last birthday) |
Premium Payment Term |
Policy Term |
Income Term |
Minimum Entry Age# |
Maximum Entry Age# |
5 |
15 |
10 |
3 |
55 |
|
5 |
20 |
15 |
0 |
55 |
|
6 |
15 |
9 |
3 |
55 |
|
8 |
18 |
10 |
0 |
60 |
|
12 |
25 |
13 |
0 |
60 |
|
Premium (₹) (Premium in multiples of 10000) |
Minimum: ₹18,000/- per annum Maximum: No Limit (subject to underwriting guidelines) |
||||
Basic Sum Assured |
11 times the Annualised Premium |
||||
Premium Payment Mode |
Annual/Half-yearly/Quarterly/Monthly |
||||
#Reference to age is as on the last birthday
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Frequently Asked Questions
What is the income term offered by Tata AIA 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 an 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
What are riders? Which rider can I purchase with Tata AIA 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 Tata AIA Diamond Savings Plan, you can purchase the following riders.
- Tata AIA Vitality Protect - A Non-Linked, Non- Participating Individual Health rider (UIN:110B046V04 or later)
- Tata AIA Vitality Health - A Non-Linked, Non- Participating Individual Health rider (UIN:110B045V03 or later)
- Tata AIA Life Insurance Non-Linked Comprehensive Protection Rider - A Non-Linked, Non- Participating Individual Health Rider (UIN: 110B033V04 or later)
- Tata AIA Life Insurance Non-Linked Comprehensive Health Rider - A Non-Linked, Non- Participating Individual Health Rider (UIN: 110B031V02 or later)
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Disclaimer
- The complete name of Tata AIA Diamond Savings Plan is Tata AIA Life Insurance Diamond Savings Plan (UIN: 110N133V04) - A Non-Linked, Participating Individual Life Insurance Savings Plan.
- *A Guaranteed Income of Assured Benefit shall be paid annually commencing from the end of next policy year after premium payment term till maturity of the Policy or till death of the Life Insured, whichever is earlier
- ·~Compound Reversionary Bonus and Terminal Bonus will be based on Company’s performance and are not guaranteed.
- ^Income Tax benefits would be available as per the prevailing income tax laws, subject to fulfillment 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 benefit available to you.
- #Tax 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.
- $Riders are not mandatory and are available for a nominal extra cost. For more details on the benefits, premiums and exclusions under the riders please refer to the Rider Brochure or contact our Insurance Advisor or visit our nearest branch office.
- Tata AIA Vitality Protect - A Non-Linked, Non- Participating Individual Health rider (UIN:110B046V04 or later), Tata AIA Vitality Health - A Non-Linked, Non- Participating Individual Health rider (UIN:110B045V03 or later), Tata AIA Life Insurance Non-Linked Comprehensive Protection Rider - A Non-Linked, Non- Participating Individual Health Rider (UIN: 110B033V04 or later), Tata AIA Life Insurance Non-Linked Comprehensive Health Rider - A Non-Linked, Non- Participating Individual Health Rider (UIN: 110B031V02 or later) are available under this plan.
- 1Tata AIA Vitality - A Wellness Program that offers you an upfront discount at policy inception. You can also earn premium discount / cover booster (as applicable) for subsequent years on policy anniversary basis your Vitality Status (tracked on Vitality app)
- Vitality is a trademark licensed to Tata AIA Life by Amplify Health Assets PTE. Limited, a joint venture between Vitality Group International, INC. and AIA Company Limited. The assessment under the wellness program shall not be considered as a medical advice or a substitute to a consultation/treatment by a professional medical practitioner.
- 2On enrolling into the Wellness Program, you get an upfront discount of 5% on 1st year premium for Accidental Death, Accidental Total & Permanent Disability, Accidental Disability Care Benefits and of 10% on 1st year premium for Term Booster, CritiCare Plus, Accelerated CritiCare, Multistage CritiCare, Cancer Care, Cardiac Care, HospiCare. The rewards are offered on cumulative basis and in any year, the maximum rewards in view of both the Up-front Rewards and Annual Rewards Flex together shall be 15% for Accidental Death, Accidental Total & Permanent Disability, Accidental Disability Care and 30% for all other benefit options. Discount is driven by accumulated points which is achieved through wellness status. Please refer policy document for more details.
- The risk factors of the bonuses projected under the product are not guaranteed.
- Past performance doesn't construe any indication of future bonuses, and
- These products are subject to the overall performance of the insurer in terms of investments, management of expenses, mortality and lapses.
- Please refer rider brochures for additional details on health and wellness benefits.
- 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.
- This product is underwritten by Tata AIA Life Insurance Company Ltd.
- This 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.
- This product will be offered only to Standard lives.
- For more details on risk factors, terms and conditions, please read sales brochure carefully before concluding a sale.
- L&C/Advt/2024/Oct/2867
