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Plan Snapshot
-
Multiple payout options
Lumpsum | Regular Income and Whole Life -
Avail Loan
against your policy -
Pay premium as per
Convenience with multiple options
- Get life cover
From day one of policy issuance - Avail Tax# benefits
and save more -
Add Riders^
To increase plan coverage
*T&C apply
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The Tata AIA Guaranteed Return Insurance Plan is a savings plan that allows you to save up all you need to meet the major milestones in your life and turn your dreams into reality. With this plan, you can benefit from life insurance coverage, along with an element of savings to meet your life goals.
What is a Guaranteed Return Insurance Plan?
A guaranteed return plan is a form of a savings plan with life insurance coverage that enables you to save a fixed amount of money regularly and over the long term. The saved financial corpus offers a guaranteed return to help you fulfil your future needs and goals. When receiving the payout from the Guaranteed Return Insurance Plan, you can choose from three different options as per your needs – lump sum (endowment), regular income, and whole life income.
To save towards the Guaranteed Return Insurance Plan, you can choose a flexible premium payment mode to determine if you would like to save your money on a monthly, annually, quarterly, or half-yearly or prefer to save a lump sum amount as Single Pay. Among your many investments, having savings plan with assured benefits not only offers a guaranteed return after a fixed tenure but also offers continual life insurance coverage to your family – all under the same policy!
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How Does Guaranteed Return Insurance Plan Work?
A guaranteed return plan helps you adopt a disciplined approach to savings via premium payments as per a frequency of your choice over a fixed policy tenure. The returns on the policy are low-risk and can be used to fulfil a variety of financial goals and objectives in the future while protecting your family under a life insurance cover. Here is brief on how a savings plan works:
Sum Assured/Coverage
The life insurance coverage is an important component of the savings plan as this amount will secure your family’s future financial needs in your absence. Hence, choose adequate life insurance coverage for your family.
Savings
You can also choose the amount of financial corpus you want to save over the policy tenure. These guaranteed returns will be paid out to you on policy maturity if you outlive the policy term.
Premium Payment
The premium amount you choose will help you determine how much you can save and how much can be contributed towards the life cover. The premium payment term and the frequency of the payments can also be chosen as per your preference.
Policy Term
This is the entire coverage period during which you make the premium payments, save your money, and receive life insurance coverage. You can select a policy term depending on the number of years for which you need life insurance coverage and want to save for your financial corpus.
Financial Protection
If you meet your untimely demise during the policy term, the death benefit under the policy will be paid out to your beneficiaries for their financial security. However, if you survive the policy term, the guaranteed return insurance plan corpus will be paid out to you for the fulfilment of your goals.
With adequate insurance coverage, you can pay affordable premiums for long-term savings and uninterrupted life insurance coverage.
Tata AIA Guaranteed Return Insurance Plan Features
Get Guaranteed* Income
Get guaranteed* income to fulfil your life goals such as securing children's education, buying a house or accumulating a corpus for early retirement.
Flexible Choice of Returns
Flexibility to receive Guaranteed Lumpsum amount, Regular Income or Whole Life Income based on your needs/goals.
Life Insurance Coverage
Protect your family with a secure life insurance cover under any of our plan options from the day one of policy issuance.
Guaranteed Additions~ to Boost Corpus
If you choose the endowment plan option, a percentage of the Guaranteed* Maturity Benefit will be accrued each policy year that can boost your corpus year on year.
Save Tax Up to Rs 46,800**
Get income tax# benefits as per applicable income tax laws and save tax.
Joint Life Cover
Flexibility to cover your spouse in the same policy under Whole Life Income Option.
Pay Premium Conveniently
You can pay your premium amount in Single /Annual/ Half-yearly / Quarterly/ Monthly mode of payment.
Riders^ for Additional Protection
Enhance your protection with our optional Riders^ that protect you from events such as Hospitalization and Critical Illnesses like Cancer, Heart conditions, accidental disability etc.
*T&C apply
Plan Option Comparison
Endowment |
Regular Income |
Whole Life Income |
|
Minimum Premium Amount |
₹ 24,000 p.a. |
₹ 24,000 p.a. |
₹ 24,000 p.a. |
Maximum Premium Amount |
No Limit, Subject to Underwriting |
No Limit, Subject to Underwriting |
No Limit, Subject to Underwriting |
Premium Payment Frequency |
Annually, Half Yearly, Quarterly and Monthly modes |
Annually, Half Yearly, Quarterly and Monthly modes |
Annually, Half Yearly, Quarterly and Monthly modes |
Payout Mode |
Get Lump sum on Maturity |
Get Regular Income as per the plan option |
Get Income Plus Return of Premium to Nominee on death of Life Assured(s) after the Policy Term |
Income Mode |
NA |
Annual |
Monthly / Annual |
Lump Sum Maturity Benefit |
Yes! Guaranteed Maturity Benefit (GMB) will be paid at the end of policy term |
No |
No |
Guaranteed Additions~ to Boost Corpus |
Yes |
No |
No |
Whole Life Income |
No |
No |
Yes! Till 116 years of your age |
Death Benefit |
Yes |
Yes |
Yes |
Cover your Spouse with Joint Life Option |
No |
No |
Yes |
Optional Riders^ to Provide Comprehensive Protection |
Yes |
Yes |
Yes |
Insurance Protection from Day One |
Yes |
Yes |
Yes |
Increasing Life Cover during Policy Term |
Yes |
No |
No |
Option to Enrol in Tata AIA Vitality Wellness Program% |
Yes |
Yes |
Yes |
Income Tax# Benefits |
Yes |
Yes |
Yes |
For additional details, please refer the plan brochure.
What are the benefits of Guaranteed Return Income Plans?
Guaranteed Return Income Plans offers the following benefits:
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Low Risk Investment
Guaranteed return plans provide a low-risk investment option to the policyholder as the same are not market linked and you know the returns you will get from day one.
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Fixed Income Stream
Guaranteed return income plans offer you to get income in form of lumpsum amount or as a regular source of income which can help you to fulfil your life goals or plan for your retirement to cover the living expenses.
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Income Tax Benefits
You can get income tax# benefits as per applicable income tax laws and save tax up to Rs. 46,800**
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Optional Riders
You can add optional riders^ to increase the plan coverage and secure your family
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Purchase the Guaranteed Return Insurance Plan Online in 4 Easy Steps
Step 1 - Choose a Plan Option.
Tata AIA Guaranteed Return Insurance Plan offers these three plan options:
Option I – Endowment Option:Choose this plan if you want to pay regular premium amount and receive a guaranteed* lump sum amount on maturity.
Option II - Regular Income: Choose this plan option if you want to receive a Guaranteed Annual Income with Income Booster$ for a fixed period of time with the flexibility to choose premium payment term and policy term.
Option III - Whole Life Income:Choose this plan option if you want to receive a Guaranteed* Annual Income along with Income Booster$ for whole life up to 116 years of your age. This plan option ensures that you have a regular stream of income during your retirement years.
Step 2 – Select Guaranteed Maturity Amount
Choose the guaranteed* maturity amount basis your life goals.
Step 3 - Select the Premium Payment Term and The Policy Term.
Select the suitable premium payment and policy term as per your convenience
Step 4 - Make the Premium Payment
You can now make the premium payment for your Tata AIA Life Insurance Guaranteed Return Insurance plan, depending on the plan option and policy term of your choice. If you have purchased the policy online, you can make an online payment and check out by choosing any of the digital payment channels on our official website.
*T&C apply
Downloads
Frequently Asked Questions About Guaranteed Return Insurance Plan
What is a savings plan?
A savings plan in a life insurance policy offers a combination of savings to fulfil your life goals and life insurance coverage to secure your family from unforeseen circumstances. The cash value component under the savings plan helps you create wealth and can be used for various purposes such as funding your child’s education, planning a vacation, or fulfil any life goals.
The life insurance component associated with the savings plan will provide death benefit to the nominee in case of any unfortunate event such as the death of the life assured so that your family’s financial future is secured.
Why do I need a savings plan?
A savings plan provides you with insurance cover along with systematic savings. This plan helps you to build your savings to achieve your long-term financial goals and secure your family’s future financial needs.
What are guaranteed return plans?
A guaranteed return income plan is a type of savings plan that offers a guaranteed return on the investment done for a fixed period of time. Since the returns are not marked linked, you know the amount you will receive on policy maturity.
How much can an investor expect to receive in income from a Guaranteed Return Income Plan?
The amount of income an investor can expect to receive from a Guaranteed Return Income Plan depends on several factors, including the amount invested, the length of the investment term, and the guaranteed rate of return offered by the insurance company.
Are guaranteed return plans good?
A guaranteed return income plan is a good investment option to fulfil your life goals. The returns are attractive to investors who are looking for stability and guaranteed returns over market linked returns. To decide whether the Guaranteed return income plan is a good choice of investment or not will depend on the individual investor’s life goals, and investment strategy.
What are riders^? Why do I need a rider?
Riders^ are additional provisions that you can add to your basic insurance policy in order to enhance the protection and the benefits you receive. These riders^ offer coverage against Hospitalization expenses, Critical Illnesses like cancer, Heart conditions, death, disability due to an accident, etc.
What is a claim settlement ratio?
The claim settlement ratio is referred to as the number of claims that have been passed by an insurance company. It is the ratio of the number of claims settled by an insurer to the number of claims filed in a given period.
When does a policy lapse?
When the premiums for one full years has not been paid within the grace period, the policy will lapse from the due date of the first unpaid premium, and no benefits will be payable to the policyholder.
What are the different plan options offered under Tata AIA Life Insurance Guaranteed Returns Insurance Plan?
The Tata AIA Guaranteed Returns Insurance Plan offers the following three plan options:
Do I get any tax benefits with this plan?
Yes! You can avail income tax# deductions as per applicable income tax laws and save tax up to Rs 46,800**
Does the Tata AIA Life Insurance Guaranteed Returns Insurance Plan have a loan facility?
Yes, Tata AIA Life Insurance Guaranteed Returns Insurance Plan offers loan facility. Once the policy acquires a surrender value, you may apply for a policy loan for an amount that does not exceed 80% of the surrender value. You can use this loan to fulfil any short-term commitments.
What is the minimum premium amount that needs to be paid for this plan?
When you purchase the Tata AIA Life Insurance Guaranteed Returns Insurance Plan, the minimum premium amount to be paid is ₹24,000 per annum.
What is the premium payment frequency for this life insurance investment plan?
You can choose from the following premium payment frequencies depending on the plan option chosen
- Annual
- Half-yearly
- Quarterly
- Monthly
- Single
When can I add riders^ to my Tata AIA Life Insurance Guaranteed Returns Insurance Plan?
You can add one or more of the available rider options available with the policy when you purchase the policy. The following riders are available with this plan.
- Tata AIA Vitality Health - A Non-Linked, Non- Participating Individual Health rider (UIN: 110B045V03 or any other later version)
- Tata AIA Vitality Protect -A Non-Linked, Non- Participating Individual Health rider (UIN: 110B046V04 or any other later version)
- Tata AIA Life Insurance Non-Linked Comprehensive Protection Rider - A Non-Linked, Non- Participating Individual Health Rider (UIN:110B033V04 or any other later version)
- Tata AIA Life Insurance Non-Linked Comprehensive Health Rider - A Non-Linked, Non- Participating Individual Health Rider (UIN: 110B031V03 or any other later version)
- Tata AIA Benefit Protection Rider - A Non-Linked, Non-Participating Individual Health Rider (UIN: 110B049V02 or later version)
Does this plan provide an option for Joint Life Policy?
Yes, with the Whole Life Income plan option of the Tata AIA Guaranteed Return Insurance Plan, you can choose a Joint Life Policy and get coverage for your spouse under the same plan.
What is the Income Period under this plan?
If you opt for the regular income plan option, the Guaranteed Annual Income is paid out from the end of the year following the policy maturity for a fixed Income Period based on the policy term. And if you choose the Whole Life Income option, the payouts will commence from the end of the year following the policy maturity and will be payable until the death of the insured (Single Life) or until the second death (Joint Life).
What are the documents required for a claim settlement?
Please click here to know the list of documents needed for the claim intimation and settlement process.
How can I raise a claim under this savings plan?
To raise a claim, you can choose any of the following channels to reach out to us.
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
How will the claim be processed if the nominee is outside of India?
If the nominee is outside of India and wants to file a claim here, then they can file the claim online by uploading the attested copies of the documents through email or online on our website. If the nominee wishes to file the claim offline, then they can courier their documents to their representative in India, who can visit our office and initiate the process.
Does the claim have to be filed at the same Tata AIA Life Insurance branch where the policy was purchased?
No, the claim can be filed at any Tata AIA Life Insurance branch, as per your/the nominee’s convenience. You can locate our office branches and visit the one nearest to you for the claim initiation.
Disclaimers
- The complete name of Tata AIA Guaranteed Return Insurance Plan is Tata AIA Life Guaranteed Return Insurance Plan (Individual, Non-Linked, Non-Participating, Life Insurance Savings Plan) • UIN: 110N152V14
- `Illustrated premium is calculated for a 21-year-old healthy male with a premium paying term of 10 years, policy term of 15 years and premium payment with monthly instalment under Endowment plan option and shall receive the income in the form of lump sum at the age of 36 years. The premium shown is inclusive of taxes and the mentioned benefit is payable only if all premiums are paid as per the premium paying term and the policy is in force till the completion of entire policy term opted.
- $Income Booster is an additional Income benefit payout applicable under a non-single pay option to reward persisting policyholders over and above the Guaranteed Annual Income. Income Booster shall be defined as % of Annualised Premium (excluding discount) and will be based upon the number of premiums paid (in completed years).
- *Guaranteed 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
- ~Guaranteed 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
- **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 benefits, premiums, and exclusions under the Rider, please contact Tata AIA Life's Insurance Advisor/Intermediary/ branch.
- Tata AIA Vitality Health - A Non-Linked, Non- Participating Individual Health rider (UIN: 110B045V03 or any other later version)
- Tata AIA Vitality Protect - A Non-Linked, Non- Participating Individual Health rider (UIN: 110B046V04 or any other later version)
- Tata AIA Life Insurance Non-Linked Comprehensive Protection Rider - A Non-Linked, Non- Participating Individual Health Rider (UIN:110B033V04 or any other later version)
- Tata AIA Life Insurance Non-Linked Comprehensive Health Rider - A Non-Linked, Non- Participating Individual Health Rider (UIN: 110B031V03 or any other later version)
- Tata AIA Benefit Protection Rider - A Non-Linked, Non-Participating Individual Health Rider (UIN: 110B049V02 or later version) are available under this plan.
- #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 implications mentioned anywhere on this site. Please consult your own tax consultant to know the tax benefits available to you.
- %On enrolling into the wellness Program, you get an upfront discount of 5% on first year premium for Accidental Death, Accidental Total & Permanent Disability, Accidental Disability Care Benefits and of 10% on first year premium for term booster, CritiCare Plus, Accelerated CritiCare, Multistage CritiCare, Cancer Care, Cardiac Care. The rewards are offered on cumulative basis and in any year, the maximum rewards in view of both the upfront 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.
- 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.
- 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 condition of this plan are specified in the Policy Contract.
- 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.
- Risk cover commences along with policy commencement for all lives, including minor lives.
- L&C/Advt/2024/Oct/2998
