Find your suitable insurance plan
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5 min read
Updated on Feb 27, 2023
Tata AIA Life Insurance Company is one of the prominent insurers in India. The group came into being as a collaboration between Tata group and AIA group. Among the multiple traditional plans with low interest rates offered by Tata AIA, we are discussing here the top 5 Tata AIA investment plans in detail.
Under this traditional Endowment Assurance policy, the premiums are needed to be paid for a limited period only.
| Features | Minimum | Maximum |
| Age of Entry | 18 years | 55 years |
| Age of Maturity | – | 69 years |
| Term of Policy | 14 years | – |
| Premium | INR 40,000 | No limit |
| Sum Assured | INR 250,000 | No Limit |
| Term of Premium Payment | 7 years | – |
| Frequency of Premium Payment | As per choice | – |
This life insurance plan is complete with the given below benefits and features:
| Features | Minimum | Maximum |
| Age of Entry | 8 years | 55 years |
| Age of Maturity | – | 65 years |
| Term of Policy | 10 years | – |
| Premium | INR 50,000 | No limit |
| Sum Assured | 10 times of annual premium | – |
| Term of Premium Payment | 5 years | – |
| Frequency of Premium Payment | Annual, bi-annual, monthly or quarterly | – |
This is an Endowment Assurance plan with the option of participating in a bonus. Let’s take a look at the features of the plan:
| Features | Minimum | Maximum |
| Age of Entry | 6 years | 55 years |
| Age of Maturity | – | 67 years |
| Term of Policy | 12 years | – |
| Premium | As per age, policy term and coverage | – |
| Sum Assured | INR 2 lakh | No Limit |
| Term of Premium Payment | 7 years | – |
| Frequency of Premium Payment | Annual, bi-annual, monthly or quarterly | – |
This life insurance coverage covers the insured till 85 years of age. It includes:
| Features | Minimum | Maximum |
| Age of Entry | 30 years | 55 years |
| Age of Maturity | – | 85 years |
| Term of Policy | 85 minus the entry age | – |
| Premium | As per age, policy term and coverage | – |
| Sum Assured | INR 2 lakh | No Limit |
| Term of Premium Payment | 15 years | – |
| Frequency of Premium Payment | Annual, bi-annual, monthly | – |
This is another Endowment Assurance plan that allow the insured to earn bonuses with the following features:
| Features | Minimum | Maximum |
| Age of Entry | 12years | 55 years |
| Age of Maturity | – | 73 years |
| Term of Policy | 18 years | – |
| Premium | As per age, policy term and coverage | – |
| Sum Assured | INR 2 lakh | No Limit |
| Term of Premium Payment | 9 years | – |
| Frequency of Premium Payment | Annual, bi-annual, monthly | – |
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The monthly income scheme of Tata AIA is a non-linked and non-participating individual life insurance savings plan. The plan covers the insured and his/her dependents with monetary security. This plan is highly recommended for meeting your immediate financial needs as well as your future goals.
TATA AIA Life Insurance Claim Settlement Ratio is 98.02%.
The Tata AIA ULIP is a plan offering good coverage at low premium rates. It offers many benefits including the inbuilt feature of accidental death benefit.
The lock-in period is 2 years for loan & surrender value under the Tata assured plans
The sum assured can't be changed once you enter the policy
The sum assured is on the lower side, which may not suffice future financial goals
Tata AIA term plan offers tax benefits on the premium amount paid under Section 80C of the Income Tax Act, 1961 along with other tax exemptions as applicable on different plans.
PayBima Team
PayBima is an Indian insurance aggregator on a mission to make insurance simple for people. PayBima is the Digital arm of the already established and trusted Mahindra Insurance Brokers Ltd., a reputed name in the insurance broking industry with 17 years of experience. PayBima promises you the easy-to-access online platform to buy insurance policies, and also extend their unrelented assistance with all your policy related queries and services.
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