Tata AIA Life Insurance Smart Value Income Plan

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Plan Snapshot

Personalise your plan as per your priorities.

Multiple return options
Get Cash Bonuses² (if declared) regularly or lumpsum at maturity
Enjoy long-life cover till 100 years of age
Flexi premiums
Single/Annual/Half-yearly/Quarterly/ Monthly

Maturity Benefit
Sum assured on maturity + accumulated cash bonus² (if declared)
Premium offset
Pay policy premium through cash bonus² (if declared)

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Are you an NRI?

Yes

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Benefits of Tata AIA Smart Value Income Plan

Savings Plan Option

Choose between two savings plan options to either receive a regular cash bonus² (if declared) from the first month or accumulate the cash bonus (if declared) till the end of the policy term to receive the lump sum at maturity.

Choice of Cash Bonus Payout

Choice of Cash Bonus Payout

The cash bonus will be paid out in arrears as per the frequency you choose. Not only can you receive the payout on an annual, half-yearly, quarterly, or monthly basis but also change the frequency at the immediate next policy anniversary.

Sub-Wallet

Sub-Wallet

You have an option to receive to Cash bonus in hand or in a Sub-Wallet³. You can fix/amend the proportion of Cash Bonus to be received in Sub-Wallet. You can also withdraw the bonus fully or partially from the Sub-wallet any time using My DigiAccount or by visiting our branch.

Withdrawal from Wallet

Withdrawal from Wallet

You can choose to withdraw a partial amount or the complete amount of cash bonus from your Sub-Wallet at any time during the policy term. In case of a partial withdrawal, the remaining amount⁷ in the Sub-Wallet will be paid to you when the policy is surrendered or terminated.

Survival Benefit

The survival benefit is paid out on survival of Life assured till end of policy term; a sum assured on maturity is payable along with declared/accumulated bonuses.

Whole Life Cover

Under the various premium payment options, you can choose policy term of up to 100 years of age or from a limited period of 10 to 50 years.

Rider Benefit

Rider Benefit

Enhance the coverage of your savings plan by choosing from the available rider⁶ options. You can add them to your base policy at the time of inception or at any policy anniversary, provided the rider policy term does not exceed the base policy’s tenure.

Life Protect

With this feature, you can restore full life cover on a reduced paid-up policy in case an emergency such as unemployment or loss of income hinders your premium payments towards the policy.

Highlights of Tata AIA Smart Value Income Plan – A Savings Plan

Comprehensive coverage

Apart from receiving life cover protection from the plan, you can select your savings plan option that will help you safeguard your family and create a long-lasting financial plan to build your wealth.
Affordable Premium

With a minimum premium payment of ₹24,000 per annum, you can safeguard the future of your loved ones from uncertainties while simultaneously planning for a financially healthy 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

Enjoy easy and smooth onboarding, renewal, and claim settlement processes on the Tata AIA Life Insurance website while making payments through your choice of seamless online payment modes.
Death Benefit

Sum Assured on Death along with bonuses (if declared) as applicable will be payable to your nominee.
Premium Offset

Under Regular or Limited Pay, you can avail of the Premium Offset feature, wherein the cash bonus payable by us will pay the policy premiums. If the cash bonus value is higher than the premiums to be paid, the excess amount will be paid out to you. If the cash bonus value is lower, you will have to pay the balance premiums.
Tax Benefit

Get Income Tax⁵ Benefit as per applicable tax laws

List of Riders Available with the Solution

You can add the following rider(s)⁶ mentioned below to your base policy.

Tata AIA

Non-Linked Comprehensive Protection Rider

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

Non-Linked Comprehensive Health Rider

(UIN: 110B031V03 or any other later version) - A Non-Linked, Non- Participating Individual Health Rider)
1. Choose one or more benefit options (risk covers), from a list of 5 available options, including disability, hospitalization, and illness
2. The rider provides coverage against both major illnesses, and minor injuries or illnesses, while allowing multiple claim payouts
Know More

Eligibility Criteria

	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

How Does This Plan Work?

Step 1 – Choose the Plan Option

The Tata AIA Life Insurance Smart Income Value Plan offers two plan options –

Option 1: Cash Bonus - Receive regular cash bonus payouts (if declared) in the mode of payout as chosen from 1^st year.

Option 2: Accumulating Cash Bonus - Accumulate cash bonus (if declared) till the end of policy term and receive a hefty 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 – Easy Payment Options

Tata AIA Life Insurance provides a choice of convenient digital payment options which you can pick from to easily purchase your customized savings policy online. Once you pay the premium for your life insurance savings plan, you can complete the purchase of your Tata AIA Life Insurance Smart Value Income Plan.

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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.
- 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/2024/Oct/2884

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NRI?

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Plan Snapshot

Multiple return options
Get Cash Bonuses² (if declared) regularly or lumpsum at maturity

Enjoy long-life cover till 100 years of age

Flexi premiums
Single/Annual/Half-yearly/Quarterly/ Monthly

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

Benefits of Tata AIA Smart Value Income Plan

Savings Plan Option

Savings Plan Option

Choice of Cash Bonus Payout

Choice of Cash Bonus Payout

Sub-Wallet

Sub-Wallet

Withdrawal from Wallet

Withdrawal from Wallet

Survival Benefit

Survival Benefit

Whole Life Cover

Whole Life Cover

Rider Benefit

Rider Benefit

Life Protect

Life Protect

Highlights of Tata AIA Smart Value Income Plan – A Savings Plan

Comprehensive coverage

Affordable Premium

Flexible Premium Payment Modes

Convenient Process

Death Benefit

Premium Offset

Tax Benefit

List of Riders Available with the Solution

Eligibility Criteria

How Does This Plan Work?

Downloads

Plan Snapshot

Multiple return options Get Cash Bonuses2 (if declared) regularly or lumpsum at maturity

Enjoy long-life cover till 100 years of age

Flexi premiums Single/Annual/Half-yearly/Quarterly/ Monthly

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

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Benefits of Tata AIA Smart Value Income Plan

Savings Plan Option

Savings Plan Option

Choice of Cash Bonus Payout

Choice of Cash Bonus Payout

Sub-Wallet

Sub-Wallet

Withdrawal from Wallet

Withdrawal from Wallet

Survival Benefit

Survival Benefit

Whole Life Cover

Whole Life Cover

Rider Benefit

Rider Benefit

Life Protect

Life Protect

Highlights of Tata AIA Smart Value Income Plan – A Savings Plan

Comprehensive coverage

Affordable Premium

Flexible Premium Payment Modes

Convenient Process

Death Benefit

Premium Offset

Tax Benefit

List of Riders Available with the Solution

Eligibility Criteria

How Does This Plan Work?

Downloads

Multiple return options
Get Cash Bonuses² (if declared) regularly or lumpsum at maturity

Flexi premiums
Single/Annual/Half-yearly/Quarterly/ Monthly

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