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A Non-Linked, Non-Participating, Individual Life Insurance Savings Plan (UIN: 110N126V07)
Tata AIA
Smart Income Plus
Gift yourself and your loved ones a smart savings plan that not just guarantees you the joy of extra income to fulfil your own future goals but also offers a life cover to protect your family’s future.
Tata AIA
Smart Income Plus
Gift yourself and your loved ones a smart savings plan that not just guarantees you the joy of extra income to fulfil your own future goals but also offers a life cover to protect your family’s future.
Get guaranteed* returns in the form of income or lumpsum as per the plan option chosen
Get guaranteed* returns in the form of income or lumpsum as per the plan option chosen
Get Life cover throughout the policy term
Get Life cover throughout the policy term
Save tax# as per applicable tax laws
Save tax# as per applicable tax laws
*T&C apply
*T&C apply
Get guaranteed* returns to fulfil your life goals
Get guaranteed* returns to fulfil your life goals
Personalise your plan as per your priorities.
*T&C apply
Are you an NRI?
Tata AIA Smart Income Plus is a long-term life insurance savings plan which helps with regular and consistent savings. You can grow wealth, achieve financial goals, and protect your family with adequate life insurance coverage with two plan options.
Our experts are happy to help you!
You can choose a plan option that will pay out either a guaranteed* regular income or a lumpsum pay-out on policy maturity.
Under the Regular Income option, you can receive a guaranteed* pay-out along with Income Booster@ from the end of Policy year as per the chosen income start year and shall be payable till Maturity along with a Guaranteed Maturity Payout (GMP) plus Milestone Benefit% at maturity. Under Endowment option, receive a guaranteed lumpsum at the end of the policy year preceding the year of maturity and a lumpsum at maturity.
You can avail Life Cover 11 times of Annualized Premium.
Choose a premium payment term between 5 to 15 years for regular Income option and between 5 to 30 years for endowment option to get guaranteed* life insurance coverage.
Choose between optional riders^ to increase your plan coverage.
Get Income Tax# benefits as per applicable income tax laws.
*T&C apply
Your claims can be settled in just 4 hours**.
Our individual death Claim Settlement Ratio~~ for FY 2023-24 is 99.13%.
Presence across major cities in India
Flexibility to choose premium payment mode as per convenience.
**T&C apply | ~~T&C apply
A Non-Linked, Non- Participating Individual Health rider (UIN:110B046V04 or later)
A Non-Linked, Non- Participating Individual Health rider (UIN:110B045V03 or later)
A Non-Linked, Non- Participating Individual Health Rider (UIN: 110B033V04 or later)
A Non-Linked, Non- Participating Individual Health Rider (UIN: 110B031V03)
Calculate your Guaranteed* Income
*T&C apply
Select a Suitable Policy Term (PT) and Premium Payment Term (PPT)
Add Optional Riders
Make Premium Payment
Upload Documents
Plan Issued
Eligibility Criteria of Tata AIA Smart Income Plus
Plan Options |
Option I: Regular Income Option II: Endowment The option can be chosen at policy inception. |
|
Plan Parameters |
Minimum |
Maximum |
Age at Entry (years) |
0* years subject to minimum maturity age of 18 years |
65 |
Age at Maturity (years) |
18 |
85 |
Policy Term^^ (PT) (years) |
Option I – Premium Payment Term + 6 Option II – Regular/Limited Pay: 10 |
Option I – 51 Option II – Regular Pay: 30 Limited Pay: 50 |
Premium Payment Term^^ (PPT) (years) |
Option I: 5 Option II: Regular Pay - 10 Limited pay - 5 |
Option I: 15 Option II: Limited Pay – 30* |
Basic Sum Assured |
11 times Annualised Premium |
|
Premium (₹) (Premium in multiples of 1000) |
For Option I: 18,000 For Option II: 36,000 |
No Limit. Subject to approved underwriting |
Premium Payment Mode |
You can pay your premium amount in Annual/ Half-yearly / Quarterly/ Monthly mode |
|
^^Policyholder can choose any integer value between the minimum and maximum ranges
All reference to age is as on last birthday
Our experts are happy to help you!
Do all savings plans offer regular income?
All savings plans do not offer regular income. However, you can opt for a savings plan that offers an option between receiving a lump sum benefit or a regular income.
Is an endowment policy also a savings plan?
Yes, an endowment policy is a type of savings plan. This policy pays out the maturity benefits as a lump sum when the policy matures instead of a regular income.
What is a limited premium payment term?
A limited premium payment term involves paying premiums for a limited number of years rather than the entire tenure of the life insurance policy.
After the premium payments have been completed, the policy remains in force for the remaining tenure, and you continue receiving the policy benefits.
When can the guaranteed income under a savings plan be paid out?
The guaranteed income under a savings plan is paid out on policy maturity. However, the payout of the maturity benefit is subject to your (the insured’s) survival until policy maturity. Therefore, you can receive these benefits as per a payout frequency selected at policy inception.
When should you get a savings plan?
No specific age or stage in life is the correct time to get a savings life insurance plan. However, every savings plan has a minimum and maximum entry age, which you should remember before purchasing the policy.
The decision to get a savings insurance plan, or any other type of insurance, should be based on your individual needs. When deciding whether to get a savings plan, some factors to consider might include your current and future financial goals, age and health, dependents, and responsibilities.
Do all Tata AIA savings insurance plans come with tax benefits?
Yes, all life insurance plans, including savings insurance plans, come with tax# benefits. The premiums paid towards your policy will qualify for tax deductions under Section 80C of the Income Tax Act. The death/maturity benefit, payable as applicable, qualifies for tax exemptions under Section 10(10D) of the Income Tax Act (subject to prevailing tax guidelines and conditions).
What is the minimum and maximum entry age for the Tata AIA Smart Income Plus?
The maximum entry age for the Tata AIA Smart Income Plus is 65 years. The minimum entry age is 0 years (30 days) subject to minimum maturity age of 18 years
When can the rider/riders be added to the savings plan?
The rider/riders^ can be added to the savings plan on policy inception. However, each rider will incur an additional but nominal premium cost.
What is the maximum policy term that I can opt for under this savings plan?
The maximum policy term you can choose under this savings plan is 51 years for regular Income option and 50 years for endowment option, during which your family can receive guaranteed life insurance coverage.
How to file a claim under the Tata AIA Smart Income Plus?
To raise a claim for your savings plan, choose any of the following channels to contact us:
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
Can a claim be processed if my nominee is outside of India?
In case your nominee does not reside in India, they can courier all the necessary documents to their representative in India. This person can visit any of our office branches and submit the documents to file the claim. For an online claim, the nominee can simply upload attested copies of these documents online or send them to us via email.
Where can I file an offline claim?
You or your nominee can visit us and file an offline claim at any of the Tata AIA office branches. It can be the same office branch from where the savings plan was purchased or a branch nearest to you.
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.
What types of claims can be filed under this savings plan?
In case of your (the insured’s) death, a death claim can be filed by your nominee. However, if you survive the policy term, you can file a maturity claim with us.
Disclaimer
FOR EXISTING POLICY 
FOR NEW POLICY 
