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Invest smartly with Tata AIA Smart Income Plus – secure savings, guaranteed income, and financial security. A wise man once said, 'Be ready for anything, and nothing seems more important than saving money for a brighter future. A plan like Tata AIA Life Smart Income Plus helps you grow wealth with the promise of protecting your money while providing life coverage against unfortunate death. It is a smart income plan that guarantees you the joy of extra income to fulfil your own future goals. This investment plan allows you to choose between Regular Income or Endowment options, whichever suits your needs best. Besides guaranteed savings or payouts, you can stay protected against accidental death, disability, or critical illnesses by adding add-on riders to your base policy.
Tata AIA Smart Income Plus Plan offers you a range of benefits including:
Min- 0 years, Max- 50 years
Min- 18 years, Max- 75 years
15 years, 21 years, and 25 years
7, 10, 12 years
Monthly, Quarterly, Half-Yearly or Annually
11 times Annualized Premium
Let's understand how the Tata AIA Smart Income Plus works with a simple premium illustration.
Mr. Verma is looking for an investment plan to create long-term wealth to fulfil his financial goals.
His financial advisor advised him to buy the Tata AIA Smart Income Plus. He visited PolicyX.com
Let's understand how the Tata AIA Smart Income Plus works for him with a premium illustration table.
Age of policyholder | Annual Premiums | Premium payment tenure | Sum Assured | Maturity Benefits |
35 years | Rs 1,00,000 | 10 years | Rs 10,00,000 | Rs 17,74,400 |
Key Takeaways: At the end of the policy tenure the maturity benefits of Rs 17,74,400 are paid to the policyholder.
Here are some features of Tata AIA Smart Income Plus Plan:
You can use your life insurance policy as collateral and obtain a loan once the policy acquires surrender value. However, the loan amount should be 80% of the surrender value.
Under this plan, you'll get an additional benefit on payment of a higher premium. However, the large premium boost applies to the Guaranteed Maturity Payout (GMP) under the regular income option.
Once the policy has acquired a guaranteed surrender value after full payment of premiums for two continuous years, an insured can surrender the policy.
Under this plan, you can easily revive your policy's total value within five years from the due date of the first unpaid premium.
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There are various benefits to buying the Tata AIA Smart Income Plus Plan. Let’s understand each of them in detail:
A regular income option helps you secure savings and obtain a stream of income. Under this option, you can get guaranteed income from the end of the Policy year as per the chosen Guaranteed Income year. It shall be payable until maturity, along with a lump sum at maturity.
You can discontinue your Policy anytime after paying premiums for two consecutive years. The Surrender Value payable is higher than the Guaranteed Surrender Value or Special Surrender Value.
Under this plan, if the policyholder survived till the end of the policy term, then the maturity benefit is provided as follows: Cash payout: Basic Sum Assured + Cash Bonus + Terminal Bonus (if any). Paid-up additions: Basic Sum Assured + Cash Bonus + Accrued Paid-up Addition (if any) + Terminal Bonus (if any).
The policy will be converted into a Reduced Paid-Up policy automatically if you stop paying premiums once your policy has acquired a surrender value. The payout benefit on death/maturity is estimated by dividing the premiums paid by the premiums payable under the policy.
Here is the list of documents required to buy the Tata AIA Smart Income Plus:
Photo ID Proof (either of one) - Passport, Aadhar card, PAN card, Driving license.
Age Proof (either of one) - Passport, Aadhar card, PAN card, Driving license.
Address Proof (either of one) - Utility bill, passport, voter ID, ration card.
Medical Records of the policyholder if requested.
Income Proof ( either of one) - bank statement, last three months' salary slips (if you are salaried).
You can buy the Tata AIA Smart Income Plus Plan official website or one of their nearest branch offices.
Visit the official website of PolicyX.com.
Click on the ‘Investment’ tab.
A new page will appear on the screen.
Fill out the form at the top of the page with the necessary details.
Select your income and city. Click on 'Proceed'.
Update your education and occupation details.
Choose your preferred plan and click on 'Buy this plan'.
Select the policy term, premium period, investment amount, and riders (if required), and then proceed to pay.
Visit the official website of TATA AIA Life Insurance.
Hover over the 'Investment Plans' from the top of the menu.
Click on the 'Tata AIA Life Smart Income Plus'.
Click on ‘Buy Now’ and you will be redirected to a new page.
Enter your name and contact information. One of their representatives will reach out to you and discuss the quotes.
Once discussed you can make the premium payment and get the policy documents.
You can buy the Tata AIA Life Smart Income Plus Plan offline by visiting one of their nearest branch offices. One of their representatives will help you buy the plan.
What’s Good Here | What’s Missing |
Guaranteed Maturity Benefit | No Paid Up Benefit |
Flexibility to choose plan options | No High Sum Assured Rebate |
Guaranteed Death Benefit | No Auto Cover Continuance |
Regular Income | No Single Pay |
With the Tata AIA Smart Income Plus plan, you'll benefit from secure savings, guaranteed income, and assured life cover. No worries if you're unsure whether this plan best fits your future goals. We've got your back with our insurance experts. You can reach out to us at PolicyX.com.
The minimum/maximum entry age for the Tata AIA Smart Income Plus is 0 years (30 days) to 65 years.
The Tata AIA Life Insurance Smart Income Plus is a smart income plan that guarantees you the joy of extra income to fulfill your own future goals.
Yes, Tata AIA Smart Income Plus plans offer a regular income option that helps you secure savings and obtain a stream of guaranteed income.
With the Tata AIA Smart Income Plus plan, you’ll get life coverage for the entire policy term.
Tata AIA Life Insurance claims Settlement Ratio for FY 2022-23 is 99.01%, calculated based on claims settled over total claims for the financial year.
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February 5, 2023
Asia/Kolkata
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