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Smart SIP
Tata AIA Smart SIP combines the advantages of wealth creation strategies with the essential protection of life insurance. This Unit Linked Insurance plan offers numerous benefits, including Zero premium allocation charges, flexible withdrawals, and an opportunity to invest in our top rated3 funds to grow your wealth.
Benefits of Tata AIA Smart SIP
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Invest Smarter with Zero Allocation Charges
This Smart SIP eliminates premium allocation charges, allowing you to invest your entire premium in your chosen fund option. This maximizes your potential returns from the outset.
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Smart Lady Extra Allocation
Women policyholders benefit from an additional allocation (0.25% for single-pay and 0.5% for limited/regular pay policies) on their first-year premium, giving them a head start on their wealth creation.
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Tax-Saving Benefits
Enjoy potential tax2 benefits on your premiums paid under applicable income tax laws, allowing you to save money while growing your wealth.
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Get fit with Tata AIA Vitality Wellness Program
Incorporate wellness into your financial plan by availing Tata AIA Vitality Wellness program3. It offers potential discounts4 on first year rider premiums, complimentary health check-ups, and other valuable benefits based on your healthy lifestyle choices.
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Smart SIP Investment Options to Meet Your Life Goals
Wealth Secure
This plan allows you to invest your entire premium with zero allocation charges, maximizing your investment potential. Through a Smart SIP, you can benefit from market-linked returns5 and enjoy the flexibility of unlimited fund switches to optimize your returns. Utilize the Smart SIP calculator to plan your investment journey towards wealth creation.
Future Secure
This plan ensures that your future plans for your loved ones are fulfilled even in your absence. In case of an unfortunate event, the nominee receives the death benefit. Additionally, Tata AIA Life Insurance will cover any remaining premiums (if applicable) and the policy benefits continue to accumulate, ensuring financial security.
Goal Secure
Goal Secure is a thoughtfully designed plan to secure your family's financial aspirations. In case of an unfortunate event, the nominee receives a combined payout of the death benefit and the total fund value accumulated up to that point. This smart investment plan helps you achieve your long-term financial goals for your family.
Family Secure
This plan provides a comprehensive safety net for your family in your absence. It provides a monthly income equal to 1% of the base sum assured, ensuring their needs are met. Additionally, Tata AIA Life Insurance will cover any remaining premiums (if applicable) and the policy benefits continue to grow. Upon policy maturity, the accumulated total fund value is paid out to your beneficiaries.
Withdrawal Options with Smart SIP
Once the lock-in period concludes, you have the freedom to choose a withdrawal strategy that aligns with your financial goals. Here are some options available within the Tata AIA Smart SIP Plan
Systematic Withdrawal Plan (SWP)
Maintain control by withdrawing a fixed amount or a specific percentage of your fund value at regular intervals.
Chosen-rate Withdrawal Plan (CWP)
Prioritize growth by setting a desired growth rate for your investment. Any surplus exceeding this target rate will be distributed to you as a payout.
Index-based Withdrawal Plan (IWP)
Link your withdrawals to market performance. Select an index as a benchmark. If your fund value surpasses the chosen index's growth, the excess amount becomes available for withdrawal.
Smart SIP - Details
Minimum Policy Term |
Single Pay: 5 years Limited/ Regular Pay: 10 years |
Premium Paying Term |
Single Pay Limited Pay – 5 to 20 years Regular – Equal to Policy Term |
Premium Payment Mode |
Single, Annual, Semi-Annual, Quarterly, Monthly |
Minimum Entry Age |
Wealth Secure and Goal Secure – 30 days for Single Pay/Limited Pay/ Regular Pay Future Secure and Family Secure –18 years for Limited Pay/ Regular Pay |
Minimum Sum Assured |
Up to age 49
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Minimum Maturity Age |
Wealth Secure and Goal Secure - 18 years |
Age as on last birthday
Definition:
Single Pay: Pay the complete premium amount once at the start of the policy.
Limited Pay: Pay premiums over a specified, shorter period, while enjoying policy benefits for the complete policy term.
Regular Pay: Pay your premiums regularly as per the option selected (Single, Annual, Semi-Annual, Quarterly, Monthly), throughout the entire policy term.
Why Choose Tata AIA Life?
77 Lakh+
Families Protected
500+ Branches
Presence across major cities in India
Pay your Way
Flexibility to choose premium payment mode as per convenience
1 Lakh Crore +
Assets Under Management (AUM)6
Steps to Purchase Smart SIP
Explore four distinct Smart SIP plan variations to align with your goals, that is, Wealth Secure, Future Secure, Goal Secure, and Family Secure. Based on the plan options selected, estimate potential returns based on your chosen plan and investment horizon.
Decide on the investment term (duration) that best suits your needs. Then, select your preferred premium payment method - Single, Regular, or Limited.
Choose a premium amount within the minimum and maximum limits for your selected plan option. Utilize the available Smart SIP Mutual Funds to build a diversified portfolio based on your risk tolerance. Consider consulting a financial advisor to determine the most suitable investment strategy for you.
Download Documents
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Smart SIP FAQs
What is the best time to invest in a ULIP like Tata AIA Smart SIP?
A good time to start a ULIP plan like Smart SIP is early in your life. This allows you to:
- Grow your wealth over a longer period: The longer your investment timeframe, the greater the potential for growth.
- Benefit from lower mortality charges: Generally, younger individuals have lower mortality charges, leading to a higher allocation towards investment units.
Why are Smart Investment Plans like Tata AIA Smart SIP important?
Smart Investment Plans offer a combination of benefits:
Investment opportunities: Invest in a variety of funds based on your risk tolerance to potentially achieve your financial goals.
Market-linked returns: Your returns are linked to the market performance5, offering the potential for higher returns compared to traditional savings plans.
Life insurance coverage: Provides financial security for your loved ones in case of an unfortunate event.
Are minimum returns guaranteed with Tata AIA Smart SIP?
No, minimum returns are not guaranteed in Smart SIP mutual funds or any other market-linked investment. The performance of your investment will depend on the chosen funds and market fluctuations. However, our fund managers work to give you the best possible returns on your investment.
When can I withdraw funds from my Smart SIP policy?
Partial withdrawals are allowed after a lock-in period of 5 years. You can withdraw a maximum of 25% of the fund value each policy year. After this period, you can utilize various systematic withdrawal options like SWP (Systematic Withdrawal Plan) or CWP (Chosen-rate Withdrawal Plan) to access your funds.
What is the minimum maturity age for the Smart SIP Plan?
The minimum maturity age depends on the plan option you select:
Wealth Secure and Goal Secure - 18 years
Future Secure and Family Secure - 28 years
What riders are available with the Smart SIP Plan?
Tata AIA Smart SIP offers a variety of riders to customize your coverage. The below riders are available with this plan
Tata AIA Life Insurance Waiver of Premium (Linked) Rider - Linked, Individual, Health Insurance Rider (UIN: 110A026V02)
Tata AIA Life Insurance Waiver of Premium Plus (Linked) Rider - Linked, Individual, Health Insurance Rider (UIN: 110A025V02) - Not available with Future Secure and Family Secure plan option
Tata AIA Life Insurance Accidental Death and Dismemberment (Long Scale) (ADDL) Linked Rider - Linked, Individual, Health Insurance Rider (UIN: 110A027V02)
TATA AIA OPD Care - A Linked, Non-Participating Individual Health Rider (UIN: 110A166V02)
Tata AIA Life Insurance Linked Comprehensive Health Rider - A Non-Linked, Non- Participating Individual Health rider (UIN: 110A031V03 or any later version)
Tata AIA Life Insurance Linked Comprehensive Protection Rider - A Non-Linked, Non- Participating Individual Health rider (UIN: 110A032V03 or any later version)
Tata AIA Vitality Health Plus - A Non-Linked, Non- Participating Individual Health rider (UIN: 110A047V02 or any later version)
Tata AIA Vitality Protect Plus - A Non-Linked, Non- Participating Individual Health rider (UIN 110A048V03 or any later version)
Tata AIA Sampoorna Health - A Non-Linked, Non-Participating Individual Health Rider (UIN: 110A167V02)
What documents are required to file a claim under the Smart SIP Plan?
For details on claim settlement documents, please click here.
How can I file a claim under the Smart SIP Plan?
You can file a claim with Tata AIA Life Insurance through various channels:
Email: customercare@tataaia.com
Phone : 1860-266-9966
Branch Visit: Locate a branch near you.
Mail: Write directly to this address -
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
Popular Searches
- THE LINKED INSURANCE PRODUCT DO NOT OFFER ANY LIQUIDITY DURING THE FIRST FIVE YEARS OF THE CONTRACT. THE POLICY HOLDER WILL NOT BE ABLE TO SURRENDER/WITHDRAW THE MONIES INVESTED IN LINKED INSURANCE PRODUCTS COMPLETELY OR PARTIALLY TILL THE END OF THE FIFTH YEAR.
- Tata AIA Smart SIP - Non-Participating, Unit Linked Individual Life Insurance Savings Plan (UIN:110L174V01)
- 1Waiver of premium is available only in Future Secure and Family Secure option under TATA AIA Smart SIP.
- 2Income Tax benefits would be available as per the prevailing income tax laws, subject to fulfillment of conditions stipulated therein. For ULIP policies, maturity income will be taxable if annual aggregate premium exceeds ₹2.5 Lakh in a financial year. For non ULIP insurance policies, maturity income will be taxable if annual aggregate premium exceeds ₹5 Lakh in a financial year. 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.
- 3Tata AIA Vitality - A Wellness Program that offers you an upfront discount at policy inception. You can also earn premium discount / cover booster (as applicable) for subsequent years on policy anniversary basis your Vitality Status (tracked on Vitality app) Please refer rider brochures for additional details on health and wellness benefits.
- 4On enrolling into the wellness Program, you get an upfront discount of 5% on first year premium for Accidental Death, Accidental Total & Permanent Disability, Accidental Disability Care Benefits and of 10% on first year premiums of the other benefit options. The rewards are offered on cumulative basis and in any year, the maximum rewards in view of both the upfront rewards and annual rewards together shall be 15% for Accidental Death, Accidental Total & Permanent Disability, Accidental Disability Care Benefits 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.
- 5Market-linked returns are subject to market risks and terms & conditions of the product. The assumed rate of returns or illustrated amount may not be guaranteed and depends on market fluctuations.
- 6As on 03rd April 2024, the company has a total Assets Under Management (AUM) of Rs.100,099.11 Crores
- 777,26,727 families protected till 31st March 2023.
- 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 Waiver of Premium (Linked) Rider - Linked, Individual, Health Insurance Rider (UIN: 110A026V02), Tata AIA Life Insurance Waiver of Premium Plus (Linked) Rider - Linked, Individual, Health Insurance Rider (UIN: 110A025V02)- Not allowed to be attached under Future Secure and Family Secure, Tata AIA Life Insurance Accidental Death and Dismemberment (Long Scale) (ADDL) Linked Rider - Linked, Individual, Health Insurance Rider (UIN: 110A027V02),TATA AIA OPD Care (UIN: 110A166V02), Tata AIA Life Insurance Linked Comprehensive Health Rider - A Non-Linked, Non- Participating Individual Health rider (UIN: 110A031V03 or any later version), Tata AIA Life Insurance Linked Comprehensive Protection Rider - A Non-Linked, Non- Participating Individual Health rider (UIN: 110A032V03 or any later version), Tata AIA Vitality Health Plus - A Non-Linked, Non- Participating Individual Health rider (UIN: 110A047V02 or any later version), Tata AIA Vitality Protect Plus - A Non-Linked, Non- Participating Individual Health rider (UIN 110A048V03 or any later version),TATA AIA Sampoorna Health (UIN 110A167V02) are available under this plan.
- Linked Insurance Products do not offer any liquidity during the first five years of the contract. The policy holder will not be able to surrender/ withdraw the monies invested in Linked Insurance Products completely or partially till the end of the fifth year.
- Tata AIA Life Insurance Company Limited is only the name of the Insurance Company & Tata AIA Life Insurance Smart SIP is only the name of the Unit Linked Life Insurance contract and does not in any way indicate the quality of the contract, its future prospects or returns
- The fund is managed by Tata AIA Life Insurance Company Ltd.
- 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.
- Past performance is not indicative of future performance. Returns are calculated on an absolute basis for a period of less than (or equal to) a year, with reinvestment of dividends (if any).
- Investments are subject to market risks. The Company does not guarantee any assured returns. The investment income and price may go down as well as up depending on several factors influencing the market.
- Please make your own independent decision after consulting your financial or other professional advisor
- Unit Linked Life Insurance products are different from the traditional insurance products and are subject to the risk factors. Please know the associated risks and the applicable charges, from your Insurance Agent or Intermediary or Policy Document issued by the Insurance Company.
- Various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these plans, their future prospects and returns. The underlying Fund's NAV will be affected by interest rates and the performance of the underlying stocks.
- The performance of the managed portfolios and funds is not guaranteed, and the value may increase or decrease in accordance with the future experience of the managed portfolios and funds.
- Premium paid in the Unit Linked Life Insurance Policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the Insured is responsible for his/her decisions.
- Please know the associated risks and the applicable charges, from your insurance agent or the Intermediary or policy document issued by the Insurance Company.
- Insurance cover is available under the product.
- The products are underwritten by Tata AIA Life Insurance Company Ltd.
- The plans are not a guaranteed issuance plan, and it will be subject to Company’s underwriting and acceptance.
- For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale.
- The fund is managed by Tata AIA Life Insurance Company Ltd. (hereinafter the “Company”).
- Past performance is not indicative of future performance. Returns are calculated on an absolute basis for a period of less than (or equal to) a year, with reinvestment of dividends (if any).
- The Company does not guarantee any assured returns. The investment income and price may go down as well as up depending on several factors influencing the market.
- All Premiums, Charges, 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, charges 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/2024/Jun/1794
