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

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

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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.

1756997995324

Option to receive cash bonus2 from 1 st  policy month

1756997995324

Features of a savings account with a sub-wallet3

1756997995324

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

Two Savings Plan Options

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

Cash Bonus Payout Options

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

Flexible Cash Bonus Options

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

Withdraw Cash Bonus Anytime

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

Survival Benefit: Policy Maturity Payout

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

Whole Life Cover Up to Age 100

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

Enhance Savings Plan

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

Life Protect: Restore Full Cover

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 Life Cover Plan

    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.

  • Low-Cost Premium Protection

    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..

  • Versatile Premium Payment Options

    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 Life Insurance Process Online

    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.

  • Nominee Receives Death Benefit

    Death Benefit

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

  • Cash Bonus Offsets Premiums

    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 per Tax Laws

    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

    Know More

  • 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.

    Know More

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.

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

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