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Tata AIA Life Insurance

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Tata AIA Life Insurance

Overview
Tata AIA Life Insurance Co. Limited is one of India’s biggest insurance companies and has been set up as a joint venture entity by Tata Sons Limited and the AIA Group Limited. The latter is one of the biggest pan-Asian players in the global insurance sector while the former is one of India’s biggest and most respected business conglomerates. The company offers several insurance products like endowment plans, child plans, investment plans and retirement plans to customers.

The company has achieved 96.01% as a claim settlement ratio while the weighted premium for FY2016-17 stands at Rs. 1, 048 crore which is a major feat indeed.

Tata AIA Life Insurance at a glance
  • Retail claims settlement ratio of 96.01% for FY 2016-17.
  • Over 30 million individual policies
  • Premium of INR 1,048 crores for the financial year ending March 2017
  • Large network in over 100 countries
  • The company works with a mission 'To improve the quality of life of the communities

Tata AIA Life Insurance Co. Limited Pension Plans
You can take your pick from several pension plans offered by Tata AIA Life Insurance Co. Limited. There is the Freedom plan which helps in generating pension while there are enhancement options via riders. There is the Compounded Reversionary Bonus which helps you increase your corpus for retirement.

Documentation needed to apply for Tata AIA Life Insurance
  • Age proof - (Any One)
    Driving License, Passport, Voter ID Card, Birth Certificate, etc
  • Identity proof – (Any One)
    Driving License, Passport, Voter ID card, PAN Card, Aadhar Card, or any document which proves citizenship
  • Income proof
  • Address proof – (Any One)
    Driving License, Passport and Utility Bill should clearly mention the permanent address
  • Income proof – (Any One)
    Salary Slip, Form 16, ITR
  • Recent passport size photograph

Tata AIA Pension plans
  • Tata AIA Life Insurance Freedom: A pension plan tailor made for allowing growth of your corpus with addition of Compounded Reversionary Bonus, thus ensuring an independent life.

1: Tata AIA Life Insurance Freedom: Tata AIA Life Insurance Freedom is a pension plan tailor made for the sunset years. The plan offers growth of your corpus with addition of compounded reversionary bonus ensuring an independent life.

Advantages and Benefits
  • Choice to select a policy payment term as per your convenience
  • Option to choose from Retirement Option 1 or Retirement Option 2 wherein the Maturity age is 55 or 60 years respectively
  • Growth of your corpus through Compounded Reversionary Bonus
Features Description
Minimum entry age (Age as on last birthday) 25 years
Maximum entry age For Retirement Option1:45 years
For Retirement Option 2: 50 years
Maximum maturity age For Retirement Option1: 55 years
For Retirement Option 2: 60 years
Policy Term For Retirement Option1: 55 years - entry age
For Retirement Option 2: 60 years- entry age
Premium Payment Term For Policy Term 10 to 14 -7/10 years
For Policy Term 15 and above – 7/10/15 years
Minimum Basic Sum Assured Rs. 2,00,000
Minimum Premium As per Minimum Sum Assured
Payment Mode Annual/Semi-annual/ Monthly