Micro insurance products, similar to traditional life insurance products, offer coverage against a wide range of risks, while offering a savings component. However, these products are tailored for low-income households and individuals, who do not have retirement savings.

Any earning adult, man or woman, who is aged between 18 and 50 years can purchase the Tata AIA Life Insurance POS Saat Saath (UIN: 110N134V02) plan.

You can choose to pay the premiums either annually, semi-annually, quarterly, or on a monthly basis. If you are paying the premium on a monthly basis, you can only do so through electronic clearing service (ECS).

The key benefits of the Tata AIA Life Insurance POS Saat Saath (UIN: 110N123V02) plan include:

•  You don’t have to undergo any medical tests
• Differential premium rates for women policyholders
• The plan offers dual benefit of protection and savings

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:

• Bank Statement (or passbook) with the latest entries for six months:
• Aadhaar card
• Passport
• Voter's ID
• Driving license
• Electricity/telephone bill
• Ration card

Proof of identity:

Some of the documents that are accepted as valid proof of your identity include:

• PAN card
• Aadhaar card
• Passport
• Driving license

Documents showing proof of income:

These documents, which are required only for a few plans, include:

• Salary slips of the previous 3 months
• Income tax returns/Employer certificate
• Bank statement of the previous 6 months
• Latest Form 16