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Tata AIA Smart Value Income Plan

The Tata AIA Smart Value Income Plan is a non-linked, participating savings plan that offers long-term life cover up to 100 years. It provides flexible Read more premium payment modes, and the choice between regular cash bonuses² or lump sum maturity benefits. It is designed to help individuals achieve financial security, systematic savings, and protection for their loved ones. Read less

Gift yourself and your loved ones a smart savings plan that not just promises you the joy of extra income but also offers a life cover to protect your family’s future.

Option to receive cash bonus² from 1 st policy month

Features of a savings account with a sub-wallet³

Save taxes as much as Rs. 46,800⁴

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Get this savings plan with attractive bonus² option and life cover

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Top features of Smart Value Income Plan

Below are the key features of Smart Value Income Plan you must know:

Multiple return options
: Enjoy flexible benefits with the choice of regular cash bonuses² (if declared) or a lump sum payout at the end of the policy term.
Long-term life cover
: Get life insurance coverage up to 100 years of age, offering protection and peace of mind for the long term.
Flexible premium payment modes
: Choose a premium payment frequency that suits your financial planning options, including single, annual, half-yearly, quarterly, or monthly payments.

What is a Smart Value Income Plan?

The Tata AIA Smart Value Income Plan is a non-linked, participating life insurance savings plan that provides both protection and long-term savings benefits. It offers life cover up to 100 years of age along with the option to receive a cash bonus², if declared. The plan includes two saving options: Cash Bonus² and Accumulating Cash Bonus², allowing you to choose based on your financial goals.

This unique plan is designed to help you build a secure financial future while ensuring your loved ones are protected. You may also use the Smart Value Income Plan calculator to estimate your returns and select the right plan structure. It is suitable for those seeking both insurance coverage and steady income benefits.

Benefits of Tata AIA Smart Value Income Plan

The Tata AIA Smart Value Income Plan offers a range of benefits designed to meet your life goals. Here are some of them:

Savings Plan Option

Choose from two savings options, receive a regular cash bonus² (if declared) starting from the first month, or accumulate the amount until maturity for a lump sum payout.

Choice of Cash Bonus Payout

Choice of Cash Bonus Payout

The cash bonus² will be paid out in arrears as per the frequency. You may choose annual, half-yearly, quarterly, or monthly payouts. You may also change the frequency at the next policy anniversary.

Sub-wallet

Sub-wallet

You may choose to receive your cash bonus² in-hand or in a Sub-Wallet. You may set or update the percentage of bonus going into the Sub-Wallet. Withdrawals, full or partial, may be made anytime using My DigiAccount or by visiting our branch.

Withdrawal from wallet

Withdrawal from wallet

You may withdraw a part or the entire amount⁷ from your Sub-Wallet at any time during the policy term. Remaining balance will be paid out upon policy surrender or termination.

Survival benefit

If the life assured survives till the end of the policy term, a maturity sum assured along with declared or accumulated bonuses² will be paid as the survival benefit.

Whole life cover

Depending on the premium payment option, you may choose a policy term up to 100 years of age or a limited term between 10 to 50 years.

Rider benefit

Rider benefit

Enhance your savings plan’s coverage by adding optional riders⁶ such as health or accident cover. These may be added at policy inception or on any policy anniversary provided their term does not exceed the main policy term.

Life protect

In case of emergencies like job loss or reduced income, this feature helps you secure full life cover even if your policy has become reduced paid-up due to missed premium payments.

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Highlights of Tata AIA Smart Value Income Plan – a savings plan

Here are the key highlights of the Tata AIA Smart Value Income Plan, offering life cover along with structured savings benefits.

Comprehensive coverage

In addition to life insurance protection, the plan offers customisable savings options to help secure your family’s future and support long-term wealth creation.
Affordable Premium

With a minimum premium payment of ₹24,000 per annum, you may safeguard the future of your loved ones from uncertainties while planning for a stable and secure future..
Flexible Premium Payment Modes

You can make the premium payment on an annual, half-yearly, quarterly, or monthly basis. Moreover, there will be no modal loading on the single premium rate or the annual premium rate.
Convenient Process

Benefit from a smooth onboarding experience, hassle-free renewals, and quick claim settlements through Tata AIA’s user-friendly digital platform with secure online payment options.
Death Benefit

In case of the life assured’s demise, the sum assured, along with any declared bonuses², will be paid to the nominee.
Premium Offset

Under the Regular or Limited Pay option, declared cash bonuses² may be used to pay policy premiums. If bonuses² exceed the premium due, the excess is paid to you; if not, the balance must be paid by you.
Tax Benefit

Enjoy tax⁵ benefits as per prevailing tax laws under applicable sections of the Income Tax Act.

List of riders for Smart Value Income Plan

Below is the rider(s)⁶ lists for smart value income plan you may add.

Tata AIA

Non-Linked Comprehensive Protection Rider⁶

(UIN:110B033V04 or any other later version) - A Non-Linked, Non- Participating Individual Health Rider⁶
1. Select one or more benefit options (risk covers), including death, accidental death or disability, critical illness, and terminal illness
2. Enjoy the flexibility to receive the benefit as combination of lump-sum and income for a fixed period, income till survival of partner, or as waiver of future premiums
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Tata AIA

Non-Linked Comprehensive Health Rider⁶

(UIN: 110B031V03 or any other later version) - A Non-Linked, Non- Participating Individual Health Rider⁶
1. Choose one or more rider⁶ options (risk covers), from a list of five available options, which include protection against disability, hospitalisation, and illness
2. The rider6 provides coverage against both major illnesses, and minor injuries or illnesses, while allowing multiple claim payouts during the policy term.
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Eligibility Criteria

To invest in the Tata AIA Smart Value Income Plan, individuals must meet the following eligibility criteria set by the insurer.

	Minimum	Maximum
Age at Entry (years)^#	30 days	Payment Option		Maximum Entry Age
		Limited Pay		65
		Regular Pay		65
		Single Pay Sum Assured-1^{^}		45
		Single Pay Sum Assured-2^{^}		65
Age at Maturity (years)^#	18	Payment Option		Whole Life	Other than whole Life
		Limited Pay		100	85
		Regular Pay		NA	85
		Single Pay	'SA-I'^	NA	65
			'SA-II'^{^}	NA	85

^#All references to age are as on last birthday.
^{^}Death Multiple choice under Single Pay

Why choose Tata AIA life insurance?

Tata AIA offers more than just life cover. Here’s why you should choose it:

Wide range of plans:

Choose from term insurance, savings, retirement, health, and wealth creation plans.
Flexible features:

Customise policy tenure, premium payment mode, and payout options to match your needs.
High claim settlement ratio:

Ensures your family receives quick and reliable support when it matters the most.
Easy digital access:

Buy, renew, and manage policies online with simple, hassle-free tools.
Assured benefits:

Receive assured maturity or death benefits as per your plan.
Tax savings:

Get benefits under Sections 80C and 10(10D) of the Income Tax Act.
Retirement income options:

Choose from lump sum, monthly income, or a mix of both.
Bonus and riders⁶:

Enhance coverage with critical illness benefit, accidental death cover, and premium waiver on disability.

How does this plan work?

Step 1: Choose the plan option

The Tata AIA Life Insurance Smart Income Value Plan offers two plan options to suit your financial needs:

Option 1: Cash Bonus² - Receive regular cash bonus² payouts (if declared) from the first policy year, in your chosen payout mode.

Option 2: Accumulating Cash Bonus² - Let your cash bonuses² (if declared) accumulate throughout the policy term and receive a large lump sum amount at maturity.

Step 2: Select the premium payment term and policy term

	Payment Option	Whole Life	Other than Whole Life
			Minimum	Maximum
Policy Term (PT) (years)	Limited Pay	100 minus Entry Age	20	50
	Regular Pay	NA	10*	30
	Single Pay	NA	10*	50

*The above age, policy term and premium payment term combinations can be chosen subject to minimum maturity age of at least 18 years.

Step 3: Choose the desired payment option

Tata AIA Life Insurance offers simple and secure digital payment options that you may choose from to easily buy your personalised savings plan online. Once the premium is paid, your purchase of the Tata AIA Life Insurance Smart Value Income Plan will be successfully completed.

Downloads

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FAQs on Smart Value Income Plan

Can I customise this plan with additional riders⁶?

Yes, the plan allows optional riders 6 to enhance coverage based on your specific protection needs.
Are there any tax benefits under the Smart Value Income Plan?

Yes, tax⁵ benefits may be available under Sections 80C and 10(10D) of the Income Tax Act, as per prevailing laws.
Who should consider buying the Smart Value Income Plan?

This plan can be suitable for individuals seeking life cover with regular income or long-term savings for future financial goals.
Is the Smart Value Income Plan suitable for retirement planning?

Yes, it can support retirement goals by offering steady income and life cover up to 100 years of age.

Disclaimer
- The complete name of Tata AIA Smart Value Income Plan is Tata AIA Life Insurance AIA Smart Value Income Plan (UIN: 110N162V03) - Individual, Non-Linked, Participating Life Insurance Savings Plan
- ¹A monthly mortality charge will be levied. Please refer complete sales brochure for details.
- ²Cash bonuses (if declared) may be opted to be paid out at the end of the chosen pay-out frequency or as premiums offset. Alternatively, the cash bonus (if declared) can be chosen to be accumulated and paid out on maturity, death or surrender. Please refer Brochure for additional details
- ³Only available with cash bonus option.
- ⁴Tax 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.
- ⁵Income 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 benefits available to you.
- ⁶Rider is not mandatory and is 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/ branch.
- Tata AIA Life Insurance Non-Linked Comprehensive Protection Rider (UIN:110B033V04 or any other later version) - A Non-Linked, Non- Participating Individual Health Rider, Tata AIA Life Insurance Non-Linked Comprehensive Health Rider (UIN: 110B031V03 or any other later version) - A Non-Linked, Non- Participating Individual Health Rider) are available under this plan.
- ⁷The remaining amount you are eligible for will be determined based on the amount of the unpaid debt that needs to be recovered when it is terminated.
- This product is underwritten by Tata AIA Life Insurance Company Ltd. Insurance cover is available under this product. This plan is not a guaranteed issuance plan, and it will be subject to Company’s underwriting and acceptance.
- No Goods and Service Tax shall be applicable on Individual life insurance products as per prevailing laws. Tax laws are subject to amendments from time to time. If any imposition (tax or otherwise) is levied by any statutory or administrative body under the Policy, Tata AIA Life Insurance Company Limited reserves the right to claim the same from the Policyholder.
- Risk cover commences along with policy commencement for all lives, including minor lives. 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. All Premiums and interest payable under the policy are exclusive of applicable taxes, duties, surcharge, cesses, or levies 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.
- 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.
- For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale.
- L&C/Advt/2025/Oct/3896