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A Non-Linked, Non-Participating, Individual Life Insurance Savings Plan (UIN: 110N126V04)

A Non-Linked, Non-Participating, Individual Life Insurance Savings Plan (UIN: 110N126V04)

Secure your own future
Plus the future of your own.

Secure your own future
Plus the future of your own.

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.

Receive Guaranteed* Income up to 160% of Annual Premium

Receive Guaranteed* Income up to 160% of Annual Premium

Pay for 7/10/12 years, get life cover for 2X+ period

Pay for 7/10/12 years, get life cover for 2X+ period

Save taxes as much as Rs. 46,800~

Save taxes as much as Rs. 46,800~

*T&C apply

*T&C apply

Calculate
Premium

Meet
an Advisor

Get guaranteed* returns up to 160% return & life cover

Get guaranteed* returns up to 160% return & life cover

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TATA AIA Life Insurance Co. Ltd will send you updates on your policy, new products & services, insurance solutions or related information. Select here to opt-in.

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Plan Snapshot

Personalise your plan as per your priorities.

  • More Guarantee
    Earn returns up to 160% of annual premium

  • More Flexibility

    • Lumpsum Income | Regular Income
    • Flexible Payment Options Annually/Half Yearly/
      Quarterly/Monthly


    *    T&C apply

  • Pay higher premium and get additional maturity benefit
  • Preferential Rates
    For female policyholders

  • Add-on security (Riders)^

    • Accidental death/disability
    • Critical illness
    • Hospitalization Benefit
Need assistance?
Let our experts get back to you.
 

TATA AIA Life Insurance Co. Ltd will send you updates on your policy, new products & services, insurance solutions or related information. Select here to opt-in.

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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.

Need more information?
Let us help you

TATA AIA Life Insurance Co. Ltd will send you updates on your policy, new products & services, insurance solutions or related information. Select here to opt-in.

Looking to get a new plan? 
Connect with us now

+91

TATA AIA Life Insurance Co. Ltd will send you updates on your policy, new products & services, insurance solutions or related information. Select here to opt-in.

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Benefits of Tata AIA Smart Income Plus

Choice of Plan

Choice of Plan

You can choose a plan option that will pay out either a guaranteed* regular income or a lumpsum payout on policy maturity.

Guaranteed Payouts

Guaranteed Payouts

Under the Regular Income option, you can receive a guaranteed* payout benefit between 120% to 160% of the yearly premium amount.

Higher Life Cover

Higher Life Cover

You can avail Life Cover 11 times of Annualized Premium.

Pay as per Convenience

Pay as per Convenience

Choose a premium payment term of 7, 10, or 12 years to get guaranteed* life insurance coverage for a policy term of 15, 21, or 25 years.

Optional Riders

Optional Riders

Choose between two optional riders^ to increase your plan coverage.

Tax Benefits

Tax Benefits

Get Income Tax# benefits as per applicable income tax laws.

Why Choose Tata AIA Life Insurance?

Swift Claim Settlement

Your claims can be settled in just 4 hours**

The Tata AIA Assurance

Our individual death Claim Settlement Ratio~~ for FY 2021-22 is 98.53%.

400+ Branches

Presence across major cities in India

Pay your Way

Flexibility to choose premium payment mode as per convenience.

**T&C apply | ~~T&C apply
 

Add Savings Plan Riders^

Tata AIA
Vitality Protect

A Non-Linked, Non- Participating Individual Health rider (UIN:110B046V01) 

Tata AIA

Vitality Health

A Non-Linked, Non- Participating Individual Health rider (UIN:110B045V01)

Tata AIA Life Insurance

Life Insurance Non-Linked Comprehensive Protection Rider 

A Non-Linked, Non- Participating Individual Health Rider (UIN: 110B033V02)

Tata AIA Life Insurance

Non-Linked Comprehensive Health Rider 

A Non-Linked, Non- Participating Individual Health Rider (UIN: 110B031V02)

Tata AIA Life Insurance

Accidental Death and Dismemberment (Long Scale) (ADDL) Rider

Non Linked, Non Participating Individual Health Insurance Pure Risk Premium Rider (UIN: 110B028V03)

Tata AIA Life Insurance

Waiver of Premium Plus (WOPP) Rider

Non Linked, Non Participating Individual Health Insurance Premium Paying Rider (UIN: 110B029V02)

How to Purchase this Plan Online?

  • 01

    Calculate your Guaranteed* Income

    Use our online calculator to find the guaranteed* income you need by choosing between Regular Income and Endowment plan option  
     

    *T&C apply

  • 02

    Select a Suitable Policy Term (PT) and Premium Payment Term (PPT)

    Choose policy term and premium payment term as per your convenience
  • 03

    Add Optional Riders

    You can add optional riders^ to increase your plan coverage at a nominal amount
  • 04

    Make Premium Payment

    You can make the premium payment using multiple digital payment options such as credit card, debit card, payment wallets, net banking etc
  • 05

    Upload Documents

    Upload all the mandatory documents and fill the guided form to issue the plan
  • 06

    Plan Issued

    Your plan will be issued post verification of your details submitted


 

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)

Premium Payment Term 7 – 3

50

 

Premium Payment Term 10 and 12 years – 0 (30 days)

Age at Maturity (years)

18

For PT 15: 65

For PT 21: 71

For PT 25: 75

Policy Term (PT) (years)

15/21/25

Premium Payment Term (PPT) (years)

7 for PT-15

10 for PT-21

12 for PT-25

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
See More See Less

All reference to age is as on last birthday

Downloads

Download brochure
Download policy bond

Need more information?
Let us help you

TATA AIA Life Insurance Co. Ltd will send you updates on your policy, new products & services, insurance solutions or related information. Select here to opt-in.

Looking to get a new plan? 
Connect with us now

+91

TATA AIA Life Insurance Co. Ltd will send you updates on your policy, new products & services, insurance solutions or related information. Select here to opt-in.

Success

Frequently Asked Questions on Tata AIA Smart Income Plus

Generic Policy Claim

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 50 years. The minimum entry age is as follows:

  • For a premium payment term of 7 years, the entry age will be 7 – 3 years
  • For a premium payment term of 10 and 12 years, the entry age will be 0 years or 30 days.
     

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 25 years, during which your family can receive guaranteed life insurance coverage. The limited premium paying term corresponding to this policy term is 12 years.

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:

  • 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

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
  • The complete name of Tata AIA Smart Income Plus is Tata AIA Life Insurance Smart Income Plus (UIN:110N126V04) - A Non-Linked, Non-Participating, Individual Life Insurance Savings Plan 
  • *Guaranteed Returns are defi­ned as Guaranteed Payout (GP)/ Guaranteed Maturity Payout (GMP) under both Plan Options. For Regular Income option, GP is 120% to 160% of the Annualised Premium (AP) and GMP is 46% to 405% of AP for male lives and 74% to 408% of AP for female lives. Please refer survival benefi­t factor under regular income option. For Endowment option, GP is 5.26 to 15.03 times of AP for Male lives and 5.36 to 15.04 times of the AP for female lives and GMP is equal to GP, provided the policy is in-force and all due premiums have been paid. The GP/GMP factors vary by the chosen premium payment term, age, and gender as per plan option chosen
  • #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 implications mentioned anywhere on this site. Please consult your own tax consultant to know the tax benefits available to you.
  • **Applicable to only non-early claims with more than 3 years of policy duration, non-investigation cases, up to Sum Assured of Rs. 50 lakhs. Applicable for branch walk in. Time limit to submit claim to Tata AIA Life Insurance is 2 pm on working days. Subject to submission of complete documents. Not applicable for ULIP policies and open title claims.
  • ~~Individual death Claim Settlement Ratio is 98.53% for FY 2021 - 22 as per the latest annual audited figures.
  • ~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. 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 Life Insurance Accidental Death and Dismemberment (Long Scale) (ADDL) Rider– Non Linked, Non Participating Individual Health Insurance Pure Risk Premium Rider (UIN: 110B028V03), Tata AIA Life Insurance Waiver of Premium Plus (WOPP) Rider – Non Linked, Non Participating Individual Health Insurance Premium Paying Rider (UIN: 110B029V02), Tata AIA Vitality Protect - A Non-Linked, Non- Participating Individual Health rider (UIN:110B046V01), Tata AIA Vitality Health - A Non-Linked, Non- Participating Individual Health rider (UIN:110B045V01), Tata AIA Life Insurance Non-Linked Comprehensive Protection Rider - A Non-Linked, Non- Participating Individual Health Rider (UIN: 110B033V02), Tata AIA Life Insurance Non-Linked Comprehensive Health Rider - A Non-Linked, Non- Participating Individual Health Rider (UIN: 110B031V02) are available under this plan.
  • 1On 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.
  • 2Wellness Discount is available with Vitality riders as follows:

 

 

Vitality Health

(HospiCare)

Vitality Protect

(Term Booster,

CritiCare Plus)

Vitality Protect

(Accidental Death,

Accidental Total & Permanent Disability)

Upfront discount on first year Rider premium

10%

10%

5%

Discount on renewal premium

Up to 30% based on wellness status

Up to 15% based on wellness status

 

  • 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 (Tata AIA Vitality) 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.
  • Policies sourced through PoS Channel will not have any medical examination. This plan is not a guaranteed issuance plan, and it will be subject to Company’s underwriting and acceptance.
  • All Premiums and interest payable under the policy are exclusive of the taxes, rider premiums, underwriting extra premiums, loading for modal premiums, if any which will be entirely borne/ paid by the Policyholder, in addition to the payment of such Premium or interest. Tata AIA Life shall have the right to claim, deduct, adjust, and recover the amount of any applicable tax or imposition, levied by any statutory or administrative body, from the benefits payable under the Policy. 
  • L&C/Advt/2023/Feb/0441

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