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A Non-Linked, Non-Participating, Individual Life Insurance Savings Plan (UIN: 110N126V05)

A Non-Linked, Non-Participating, Individual Life Insurance Savings Plan (UIN: 110N126V05)

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.

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

Neeraj Chopra Promoting Tata AIA Smart Income Plus

Get guaranteed* returns to fulfil your life goals

Get guaranteed* returns to fulfil your life goals

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    Plan Snapshot

    Personalise your plan as per your priorities.

    • More Guarantee
      Get Guaranteed* tax-free# income for yourself or your loved ones

    • 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 advice on a new plan?
    Let our experts get back to you.
     

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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.

    Looking to buy a new insurance plan? 

    Our experts are happy to help you!

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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

    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 pay-out on policy maturity.

    Guaranteed Payouts

    Guaranteed Payouts

    Under the Regular Income option, you can receive a guaranteed* pay-out from the end of Policy year as per the chosen income start year and shall be payable till Maturity along with a lumpsum 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

    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 between 5 to 15 years for regular Income option and between 5 to 30 years for endowment option to get guaranteed* life insurance coverage.

    Optional Riders

    Optional Riders

    Choose between optional riders^ to increase your plan coverage.

    Tax Benefits

    Tax Benefits

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

    *T&C apply

    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 2022-23 is 99.01%.

    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
     

    How to Purchase this Plan Online?

    • 01

      Calculate your Guaranteed* Income

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

      *T&C apply

    • 02

      Select a Suitable Policy Term (PT), Income start year (only if Regular Income option is chosen) and Premium Payment Term (PPT)

      Choose the details as per your need and 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)

    0* years subject to minimum maturity age of 18 years
    *The Life Insured must be at least 30 days old at the time of purchase and risk shall commence immediately

    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: Regular Pay – 30

    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

    See More See Less

    ^^Policyholder can choose any integer value between the minimum and maximum ranges

    All reference to age is as on last birthday

    Looking to buy a new insurance plan? 

    Our experts are happy to help you!

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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

    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 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:

    • 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:110N126V05) - A Non-Linked, Non-Participating, Individual Life Insurance Savings Plan 
    • *Guaranteed Payout (GP) is a fixed percentage of the Annualized Premium and shall be payable annually from income start year in case of Regular income option and at the end of policy year preceding the year of Maturity in case of Endowment option. Guaranteed Maturity Pay-out (GMP) is a percentage of the Annualised Premium and shall be payable at maturity.
    • #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 99.01% for FY 2022 - 23 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 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.
    • 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/Aug/2465

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