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TATA AIA Life Insurance Company India

Tata AIA Life Insurance Company Limited is a joint venture between Tata Sons and AIA Group Ltd. Tata Sons holds a stake of 74% in the company and AIA holds 26%. Tata AIA Life was established on April 1, 2001.

Tata AIA Life combines Tata’s preeminent leadership position in India and AIA’s presence as the largest, independent listed pan-Asian life insurance group in the world spanning 18 markets in the Asia Pacific region. Tata group is a global enterprise, headquartered in India, and Tata AIA was founded by Jamsetji Tata in 1868.

Tata AIA Life Insurance Company Ltd is the fastest-growing life insurance company and it is also one of the leading insurers in the Indian private sector. Tata AIA Life Insurance India provides life insurance products such as tata aia term insurance plans, saving plans, retirement plans, group plans, income plans, wealth plans, ULIP plans, etc.

Key Features of TATA AIA Life Insurance

Claim Settlement Ratio:

An insurance company that has a good claim settlement ratio as a higher ratio indicates better claim credibility of the company. The Claim Settlement Ratio indicates how many claims have been settled out of the total number of claims submitted in a given year.
As per the IRDAI, Tata AIA Life Insurance claim settlement ratio during the financial year of 2019-2020 is 99.06% which means your family doesn't have to go through any inconvenience while getting claims.  It helps customers to compare quotes and get the best life Tata insurance policy.

Solvency Ratio:

The solvency ratio of Tata AIA Life Insurance helps an individual to know the company's ability to meet its long-term financial duty. The solvency ratio provides financial year information about the company.  IRDAI declared that every life insurance company to maintain a solvency ratio of 1.5. As per IRDAI Annual Report 2019-20, Tata AIA life insurance solvency ratio 2021 is 1.95 that fulfills the set standards of IRDAI.

Market Share:

Market share is the percentage of total sales in the market produced by an insurer. It is calculated by taking sales of the company and helping in analyzing the growth of a company and financial framework and business position of any insurance company is important to estimate its market share. Tata AIA Life Insurance market share has an annual premium of Rs. 399.87 Crores during 2016-17 which has increased to Rs. 3242.01 Crores in 2019-20.

Operating Network:

Tata AIA Life Insurance Company operates across the country with 216 branch offices. The company provides excellent insurance products with affordable premium rates. Tata AIA Life & General Insurance aims towards becoming one of the leading insurers in India.

Tata AIA Life Insurance Plans

Tata AIA Term Life Insurance Plans:

Sampoorna Raksha Supreme

Tata AIA Life Insurance Sampoorna Raksha Supreme Plan provides financial protection to your family and offers you the flexibility to choose the plan that suits your need.

Entry Age Maturity Age Plan Options Sum Assured Premium Payment
Min 18 years to Max 65 years Min 65 years to Max 100 years Life Life Plus Life Income Credit Protect Rs. 1 lakh to No limit Yearly, half-yearly, quarterly, monthly, single

Saral Jeevan Bima

Saral Jeevan Bima plan is an affordable insurance plan that provides financial protection to your family and offers a lower premium rate for female lives, flexibility to choose the plan that suits your need.

Entry Age Maturity Age Policy Term Sum Assured Premium Payment Mode
Min 18 years to Max 65 years Max 70 years Min 5 years to 40 years Min Rs. 5 lakhs Yearly, half-yearly, quarterly, monthly, single

Tata AIA ULIP Plans:

Fortune Maxima

Tata AIA Fortune Maxima plan provides dual benefits of long-term wealth creation and whole life protection. Get lifelong coverage up to 100 years of age, and investment growth with the power of market-driven benefits.

Entry Age Maturity Age Policy Term Sum Assured Premium Payment Mode
Min 0 years to Max 60 years Max 100 years 100-entry age Single pay-1.25 times of single premium Limited pay-10 times of annual premium Yearly, half-yearly, quarterly, monthly, single

Wealth Maxima

Wealth Maxima plan provides the benefit of an insurance cover, along with the advantage of market-driven growth for your investments.

Entry Age Maturity Age Policy Term Sum Assured Premium Payment Mode
Min 0 years to Max 60 years Max 100 years 100-entry age Single pay-1.25 times of single premium Limited pay-10 times of annual premium Yearly, half-yearly, quarterly, monthly, single

Smart Sampoorna Raksha

Smart Sampoorna Raksha is a Unit-linked, Non-participating, Individual Life Insurance Plan for Savings and Protection that provides benefits of the growth of investment with market-linked returns, flexibility to invest in a variety of funds to suit your investment needs.

Entry Age Maturity Age Policy Term Sum Assured Premium Payment Mode
Min 18 years to Max 60 years Min 48 years to Max 100 years 30,40 years Min 10 times of annual premium to No limit Yearly, half-yearly, quarterly, monthly, single

Fortune Pro

Tata Aia Life Fortune Pro plan is a Unit Linked Individual Life Insurance Savings Plan. This plan provides dual benefits of an insurance cover, coupled with long-term returns on your investments.

Entry Age Maturity Age Policy Term Sum Assured Premium Payment Mode
Min 0 years and 30 days to Max 59 years Min 18 years to Max 75 years 15 to 40 years Min Single pay-1.25 times of single premium Limited pay-10 times of annual premium Max Single pay-1.25 times of single premium Limited pay-30 times of annual premium Yearly, half-yearly, quarterly, monthly, single

Wealth Pro

Wealth Pro plan is a Unit Linked Individual Life Insurance Savings Plan. This plan provides the dual advantage of investment growth and insurance cover.

Entry Age Maturity Age Policy Term Sum Assured Premium Payment Mode
Min 0 years and 30 days to Max 59 years Min 18 years to Max 75 years 15 to 40 years Min Single pay-1.25 times of single premium Limited pay-10 times of annual premium Max Single pay-1.25 times of single premium Limited pay-30 times of annual premium Yearly, half-yearly, quarterly, monthly, single

Tata AIA Pension Plans/Retirement plans:

Guaranteed Monthly Income Plan

Guaranteed Monthly Income Plan provides coverage to secure the future of your loved ones and offers monthly income at 8.35% to 13.03% per annum of total premiums paid.

Entry Age Maturity Age Policy Term Sum Assured Premium Payment Mode
Min age for a policy term of 5 years: 13 For a policy term of 8 years: 10 For a policy term of 12 years: 6 Max age for a policy term of 5 years: 60 For a policy term of 8 years: 60 For a policy term of 12 years:55 For a policy term of 5 years: 65 For a policy term of 8 years: 68 For a policy term of 12 years: 67 5, 8, 12 years 11 times of annual premium Yearly, half-yearly, quarterly, monthly

Saral Pension plan

Saral Pension helps you increase financial protection during your second innings. The plan provides you regular income to help you manage your expenses post-retirement.

Entry Age Premium payment term Annuity Pay amount Annuity Payout Option
Min 40 years to Max 80 years Single premium Min amount Annual payouts: Rs. 12,000 Half-yearly payouts: Rs. 6,000 Quarterly payouts: Rs. 3,000 Monthly payouts: Rs. 1,000 Max amount: No limit Yearly, half-yearly, quarterly, monthly

Smart Annuity Plan

Smart Annuity Plan is a Single Premium, Non-Linked; Individual tata aia Annuity Plan that offers you the flexibility to choose the plan that suits your need.

Entry Age Premium payment term Annuity Pay amount Annuity Payout Option
Min 45 years to Max 85 years Single premium Min amount Annual payouts: Rs. 12,000 Half-yearly payouts: Rs. 6,000 Quarterly payouts: Rs. 3,000 Monthly payouts: Rs. 1,000 Max amount: No limit Yearly, half-yearly, quarterly, monthly

Tata AIA Savings Plans:

Fortune Guarantee Plus

Tata AIA Fortune Guarantee Plus Plan is an individual savings plan. Get the benefits of life insurance coverage, coupled with the element of savings to fulfill your life goals.

Entry Age Maturity Age Premium payment term Premium payment mode
Min 1 years to Max 60 years Min 18 years to Max 77 years Single pay, regular pay, limited pay Single, Yearly, half-yearly, quarterly, monthly

Guaranteed Monthly Income Plan

Guaranteed Monthly Income Plan is an individual savings plan. In this plan, you can not only take care of your loved ones but you can also fall back on a stream of guaranteed income to meet your future requirements.

Entry Age Maturity Age Sum Assured Policy term Premium payment mode
Min age for a policy term of 5 years: 13 For a policy term of 8 years: 10 For a policy term of 12 years: 6 Max For a policy term of 5 years: 60 For a policy term of 8 years: 60 For a policy term of 12 years:55 11 times the Annualised Premium 5,8,12 years Annual, half-yearly, quarterly, monthly

Guaranteed Return Insurance Plan

Tata AIA Guaranteed Return Insurance Plan is an individual savings plan that provides the benefit of life insurance coverage to secure the future of your loved ones, along with an element of savings to meet your future needs. In this, you can choose three plan options as tata aia life endowment plan, Regular Income, and Whole Life Income.

Entry Age Sum Assured Policy term Premium payment mode
Min Entry Age for 1. Endowment plan 10-year policy: 8 years 12-year policy: 6 years 20-year policy: 0 years 2. Regular Income plan 11-year policy: 7 years 13-year policy: 5 years 3. Whole Life Income plan 5-year policy: 45 years 10-year policy: 45 years Max Entry Age for 1. Endowment plan 10-year policy: 60 years 12-year policy: 60 years 20-year policy: 55 years 2. Regular Income plan 11-year policy: 55 years 13-year policy: 55 years 3. Whole Life Income plan 5-year policy: 65 years 10-year policy: 65 years Death benefit multiple X Annualised premium 1. Tata aia endowment plan 10-year policy 12-year policy 20-year policy 2. Regular Income plan 11-year policy 13-year policy 3. Whole Life Income plan 5-year policy 10-year policy Single, Annual, half-yearly, quarterly, monthly

Smart Income Plus

Tata AIA Smart Income Plus plan is an individual life insurance plan that provides life insurance coverage to secure the future of your loved ones. In this plan, you can get benefits such as flexibility to choose policy term and premium payment term and Enhanced protection through optional riders, etc.

Entry Age Maturity Age Sum Assured Policy term Premium payment mode
Min Entry Age for a premium payment term of 7 years: 3 years For a premium payment term of 10 years and 12 years: 0 years (30 days) Max Entry Age 50 years. Min 18 years Max for a policy term of 5 years: 65 For a policy term of 8 years: 68 For a policy term of 12 years: 67 11 times the Annualised Premium 15 years 21 years 25 years Annual, half-yearly, quarterly, monthly

MahaLife Gold

Tata AIA Life MahaLife Gold plan is a whole life individual savings plan that provides life insurance coverage to secure the future of your loved ones. In this plan, you can receive regular income up to Age 85 or 100 years.

Entry Age Maturity Age Sum Assured Policy term Premium payment mode
Min Entry Age 0 years (30 days) Max Entry Age For a 6-year PPT: 55 years For an 8-year or 15-year PPT: 60 years 85 years or 100 years Rs. 1 Lakh to no limit 85 years minus the entry age or 100 years minus the entry age Annual, semi-annual, monthly

POS Smart Income Plus

POS Smart Income Plus plan is an individual savings plan that provides life insurance coverage, flexibility to choose between Regular Income and Endowment Benefit options, guaranteed payouts under the Regular Income option.

Entry Age Maturity Age Sum Assured Policy term Premium payment mode
Min 3 years to 50 years 18 years to 65 years 11 times the Annualised Premium 15 years Annual, half-yearly, quarterly, monthly

Money Back Plus

Money Back plus Plan is an Individual Life Insurance Savings Plan that provides guaranteed payouts (Money Back) at regular intervals throughout the term and Inbuilt accident benefit for additional protection, etc.

Entry Age Maturity Age Sum Assured Policy term Premium payment mode
Min 0 years(30 days) years to 51 years 18 years to 75 years Rs.2 lakhs to no limit 16,20,24 years Annual, semi-annual, monthly

Gold Income Plan

Gold Income Plan is an individual savings plan that provides guaranteed Sum Assured on the maturity of the policy, Guaranteed Income from the end of the year of Maturity for 10 or 15 years.

Entry Age Maturity Age Sum Assured Policy term Premium payment mode
Min entry age For policy term 12 years: 6 years For policy term 15 years : 3 years Max entry age For policy term 12 years: 65 years For policy term 15 years: 55 years Min 18 years Max For policy term 12 years: 77 years For policy term 15 years: 70 years Annualized Premium x Basic Sum Assured Multiple 12 years 15 years Annual, half-yearly, quarterly, monthly

Value Income Plan

Value Income Plan is a Non-Linked, Participating, Individual life insurance savings plan that provides life coverage to secure the future of your loved ones.

Entry Age Maturity Age Sum Assured Policy term Premium payment mode
Min 0 years(30 days) to Max For a premium payment term of 5 years: 55 For a premium payment term of 6 years: 58 For a premium payment term of 7 years: 62 For a premium payment term of 8 to 15 years: 65 Min 18 years to Max 80 years 5 to 15 years 10 to 40 years Annual, half-yearly, quarterly, monthly

Fortune Guarantee

Fortune Guarantee is a Non-Linked, Non-Participating, Individual Life Insurance Savings plan. In this plan, you can get benefits of life insurance coverage, guaranteed lump sum benefit on maturity.

Entry Age Maturity Age Sum Assured Policy term Premium payment mode
Min 0 years(30 days) to Max 80 years Min 75 years to Max 80 years 5 to 10 years 10 to 40 years Annual, semi-annual, quarterly, monthly

Diamond Savings Plan

Tata Aia Life Insurance Dimond savings plan is a Non-Linked, Participating Individual Life Insurance Savings Plan that provides Life insurance coverage to secure the future of your loved ones, guaranteed income after the premium payment term.

Entry Age Maturity Age Sum Assured Policy term Premium payment mode
Min 0 years to Max 60 years 11 times the Annualised Premium 5,6,8,12 years 15 years 18 years 20 years 25 years Annual, semi-annual, quarterly, monthly

Tata AIA Life Insurance Riders

Traditional Riders:

  • Wavier of Premium Plus (WOPP) Rider
  • Non-Linked Comprehensive Protection Rider
  • Tata AIA Life Insurance Non-Linked Comprehensive Health Rider
  • Tata AIA Life Insurance Accidental Death and Dismemberment (Long Scale) (ADDL) Rider

ULIP Riders:

  • Waiver of Premium Plus (Linked) Rider
  • Waiver of Premium (Linked) Rider
  • Linked Comprehensive Protection Rider
  • Linked Comprehensive Health Rider
  • Accidental Death and Dismemberment (Long Scale) (ADDL) Linked Rider

Claim Process of Tata AIA Life Insurance

The Claim Process of Tata AIA Life Insurance should be in two modes one is an online process and another one is an offline claim process.

Online Claim Process:

  • Visit the official website “Tata AIA Life Insurance”.
  • Click on  Claim Process

Claim Process is divided into 3 steps.

Step 1- Claim Intimation: 

Register claim from the Tata AIA Life insurance website and fill in the details and attach the documents required.

Step 2- Claim Processing:

The filled-in tata aia life insurance death claim form along with the required documents has to be submitted online. The documents are verified by the claim officer and he/she will contact the nominee for further verification.

Step 3- Claim Decision:

After the submission, the company will verify the documents and assess the claim.  You will be kept in the loop through regular messages and emails. If it is genuine the claim amount will be transferred to the registered bank account.

Offline Claim Process:

The first step is to intimate the insurance company by calling on the customer service number 1860-266-9966. Visit nearest Tata AIA Life insurance branch office nearest. Ask the agent for a Tata AIA claim form or download the Tata AIA Life insurance claim form from the website fill in the details and attach the documents required.

Tata AIA Life Insurance FAQ's:

How Can I Check My TATA AIA Life Insurance Policy Status Online?

TATA AIA Life Insurance policy status can be checked by contacting the intermediary from whom the policy was taken or alternatively the insurance policy status can be found on the mParivahan app which displays the start date and end date of the insurance policy. If you can remember the intermediary from whom the policy was taken you can talk to them about the status of the policy or in case if you have taken the policy from PolicyBachat then you can call our customer care to enquire on the insurance policy status.

How Can I Check TATA AIA Life Insurance Policy Details With Policy Number?

You can check TATA AIA Life Insurance policy details with policy number easily in simple steps

  • Step1: Visit the official website of TATA AIA Life Insurance
  • Step2: Click on the Login portal and then enter the details such as register email id, mobile number, user id, etc.
  • Step3: OTP will receive the registered mobile number
  • Step4: After successful login, enter the policy number. You can check the policy details displayed on the screen.

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