Top 5 Tata AIA Traditional Investment Plans with Lowest Premiums in 2023, India
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Tata AIA Life Insurance Company offers various types of insurance plans including traditional plans. Let us take a look at 5 top Traditional Guaranteed Return Plans with Lowest Premiums from Tata AIA, in this post
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.
Top 5 Tata AIA Investment Plans
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1. TATA AIA Life Insurance Secure 7 Plan
Under this traditional Endowment Assurance policy, the premiums are needed to be paid for a limited period only.
- From the 8th year of the plan, it offers guaranteed yearly income until the term end
- When the plan matures, it pays the last instalment of the Guaranteed Annual Income along with 25% of actual Sum Assured
- On the event of sudden demise of the policyholder, the nominee under this Tata AIA guaranteed return insurance plan receives death benefit, which is 10 times the annualized premium
- The plan offers loan facility to the insured
- Further, discounts are offered on premiums if the chosen Sum Assured is INR 7 lakh or more
TATA AIA Life Insurance Secure 7 Plan Features:
| 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 | – |
2. TATA AIA Life Insurance Fortune Guarantee Plan
This life insurance plan is complete with the given below benefits and features:
- Once the plan matures and if the policyholder outlives the plan, a certain percentage of the combined premiums are paid by the insurer depending on the age, gender, and premium amount
- In the event of sudden demise of the policyholder during the policy term, death benefit is paid to the nominee, which is greater than the Sum Assured.
- The insured can also avail the rider benefit of Accidental Death and Dismemberment if they want to augment their plan protection and make it comprehensive
- The policyholder is also offered loans up to 65% (maximum limit) of Surrender Value that is applicable
TATA AIA Life Insurance Fortune Guarantee Plan 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 | – |
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3. ATA AIA Life Insurance Smart 7
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:
- At the time of policy maturity, the amount that is paid back is the guaranteed maturity amount along with the bonus of vested reversionary. It is in addition to the Terminal Bonus, if any
- If the policyholder dies during the policy term, the death benefit paid is 1.75 times higher than the assured sum or 10 times the yearly premium
- The plan also offers loan facility to the insured
ATA AIA Life Insurance Smart 7 Features
| 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 | – |
4. TATA AIA Life Insurance MahaLife Gold Plus
This life insurance coverage covers the insured till 85 years of age. It includes:
- Guaranteed yearly Tata health coupon codes starting from 11th till 30th year of the plan as per chosen sum assured amount
- Further, the policy also pays cash dividends starting from 6th year of the plan till maturity/death of policyholder
- Once the plan matures, the last coupon along with the sum assured plus dividend is paid
- If the insured dies during the term of the plan, the nominee receives death benefit, which is greater than the sum assured
- In every 15 years till the policy turns 45 years, the sum assured keeps increasing
- Loans facility is available under the plan
TATA AIA Life Insurance MahaLife Gold Plus Features
| 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 | – |
5. TATA AIA Life Insurance MahaLife Magic
This is another Endowment Assurance plan that allow the insured to earn bonuses with the following features:
- If the policyholder survives the term of this Tata investment plan, he/she receives maturity benefit which is the Sum Assured along with terminal bonus and vested reversionary bonus.
- If the policyholder dies during the term of the plan, the amount offered as death benefit is higher as compared to Sum Assured. It is, kin fact, 10 times the annual premium paid along with vested bonuses
- The facility of loans is also available under this Tata AIG investment plan
TATA AIA Life Insurance MahaLife Magic 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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FAQs on Tata AIA Traditional Investment Plans with Lowest Premiums
What is Tata AIA monthly income scheme?
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.
What is the Claim Settlement ratio Tata AIA?
TATA AIA Life Insurance Claim Settlement Ratio is 98.02%.
Is Tata AIA ULIP a good investment?
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.
What are the disadvantages of TATA AIA Life Insurance?
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
Do Tata AIA plans allow tax benefits?
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.
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