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There is strength in numbers. Group insurance plans from Tata AIA Life Insurance reinforces this sentiment, because with our group solutions, every member of your affinity group can enjoy the benefits of extended protection in a more cost-effective manner. Whether they are employer-employee groups, or non-employer-employee groups, we have a plan for everyone.
Help us with a few details, so we can assist you better.
Secure the dreams and goals of every member in the group
There are different types of group insurance plans. Some group insurance plans are solutions that allow employers to contribute to the well-being of their employees, and show them that they care. Other group plans protect borrowers who have availed loans from lending institutions.
In individual insurance plans, you pay a premium to the insurer in exchange for benefits that are exclusive to you. You get to choose various aspects of the plan, such as the premium payment term, the policy term, the level of protection, and the mode of premium payment, among other terms.
Group insurance plans are designed to benefit affinity groups comprising various people, such as employees, or groups of borrowers. These plans are cost-effective solutions that provide benefits to each member of the concerned group.
The right time to purchase a group plan depends on the kind of protection it offers. For instance, if you’re an employer keen on taking out an insurance plan for your employees, it’s a good idea to purchase a group plan for your workforce as early as you can. That way, they are protected early on. Instead, if you’re a lender (such as a bank, financial institution, or NBFC) looking to take a group plan to secure the loans taken by borrowers, the ideal time to purchase the plan would be when you disburse the funds to the borrowers.
Group insurance solutions benefit a variety of groups like employer-employee groups, non-employer-employee groups, and groups of borrowers from a common lender
To buy an insurance policy, you need to submit the following mandatory documents.
Proof of address:
The following documents are accepted as valid proof of your address.
Proof of identity:
Some of the documents that are accepted as valid proof of your identity include:
Documents showing proof of income:
These documents, which are required only for a few plans, include:
When you purchase an insurance policy, you become eligible for income tax benefits. According to section 80C of the Income Tax Act, 1961, the premium you pay for your life insurance plan is eligible to be deducted from your total income up to Rs. 1,50,000. This reduces your total taxable income and minimizes your tax burden. The maturity benefits and death benefits offered are also exempted from tax, as per the provisions of section 10(10D) of the Income Tax Act, 1961.
By submitting your details, you are giving your consent to receive SMS/Call by Tata AIA Life Insurance Company Limited or its representative, with reference to this solicited inquiry even though you may be registered on the DND list. L&C/Advt/2019/Jan/075