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  • Tata AIA Life Insurance - Compare Various Insurance Plans Online

    Life Insurance
    • Premiums as low as Rs.17/day for sum assured of Rs.1 crore*
    • Claim up to Rs. 1,50,000 deduction under section 80C**
    • Choose between annual and monthly premium payment options

    Tata AIA Life Insurance was formed following a joint venture between Tata Group and American International Group (AIG) in 2001. Since then, Tata AIA Life Insurance has grown to be the largest insurer in Asia - spreading their insurance products across 18 markets in Asia Pacific. In 2016, Tata AIA Life Insurance experienced a growth rate of 85% and a claim settlement ratio of 96.8%.

    Highlights of Tata AIA Life Insurance Updated on 23 Mar 2019

    Percentage of Grievances Solved 100%
    Claim Settlement Ratio 96.01%
    Group Death Claims 98.44%
    Percentage of Claims Rejected 1.56%
    Solvency Ratio 3.15 (for the quarter ended March 2017)

    Insurer Plans

    Listed below are the plans offered by Tata AIA Life Insurance based on the categories:

    Protection Plans Savings Plans Retirement plans Child Plans Wealth Plans Health Plans Group Plans
    Tata AIA Life Insurance Sampoorna Raksha+ Tata AIA Life Insurance Gold Income Plan Tata AIA Life Insurance Freedom Tata AIA Life Insurance Super Achiever Tata AIA Life Insurance Invest One Tata AIA Life Insurance Vital Care Pro Tata AIA Life Insurance Group Total Suraksha
    Tata AIA Life Insurance Sampoorna Raksha Tata AIA Life Insurance Smart Income Plus Tata AIA Life Insurance Good Kid Tata AIA Life Insurance Fortune Maxima Tata AIA Life Insurance Group Term Life
    Tata AIA Life Insurance iRaksha TROP Tata AIA Life Insurance Monthly Insurance Plan Tata AIA Life Insurance Pro Tata AIA Life Insurance Immediate Annuity
    Tata AIA Life Insurance iRaksha Supreme TROP Tata AIA Life Insurance Secure 7 Tata AIA Life Insurance Wealth Maxima
    Tata AIA Life Insurance Maha Raksha Supreme Tata AIA Life Insurance MahaLife Supreme Tata AIA Life Insurance Wealth Pro
    Tata AIA Life Insurance Fortune Guarantee
    Tata AIA Life Insurance Insta Wealth Plan
    Tata AIA Life Insurance Money Back Plus
    Tata AIA Life Insurance Smart 7
    Tata AIA Life Insurance Smart Growth Plus
    Tata AIA Life Insurance MahaLife Gold
    Tata AIA Life Insurance MahaLife Gold Plus
    Tata AIA Life Insurance MahaLife Magic
    Tata AIA Life Insurance Money Maxima

    Why Should You Buy Tata AIA Life Insurance?

    Tata AIA Life Insurance provides a comprehensive list of life insurance plans and policies that provide coverage to meet the needs of every customer. Both individuals as well as corporate buyers will benefit from the range of products offered by the company, all of which come with their best-in-class customer service and speedy claim process. Some of the advantages of opting for a Tata AIA Life Insurance policy are listed below:

    • Ease of purchase: Tata AIA Life Insurance policies can be bought online, saving potential policyholders from the hassle of visiting a branch with all their paperwork. Alternatively, a representative would visit the policyholder’s home and complete all necessary formalities.
    • Wide range of policies: Tata AIA Life Insurance has a wide range of policies to choose from that provide coverage to meet the needs of a diverse group of individuals and organisations.
    • Claims settlement: The company has a stellar claims settlement ratio and a dedicated team that provides claims assistance round the clock.
    • Quick settlement of claims: Tata AIA Life Insurance has set up a network that ensures the quick settlement of claims (within 48 hours) made and a streamlined process to make it easier for claimants to file, track their claim status and receive their pay-out.

    Different Types of Policies Provided by Tata AIA Life Insurance

    Tata AIA Life Insurance has a wide range of insurance products on offer that can be grouped into 7 main categories, which are as follows.

    Protection Plans: The Tata AIA Protection plans offers financial security for the family in case of untimely death of the policyholder. The Tata AIA Protection plans are listed below.

    Plan Name Key Features
    Tata AIA Life Insurance Sampoorna Raksha The Tata AIA Life Insurance Sampoorna Raksha offers financial security for the family in case of untimely death of the policyholder. The key features are listed below:
    • Policyholders have 4 death benefit options to ensure the financial security of his/her family.
    • Life coverage term up to 40 years or till the policyholder attains the age of 80 years.
    • Policyholders have the choice between Regular or Limited Premium Paying Term.
    • Premium discounts for non-smokers or females.
    • Tax Benefits under Section 80D and 10(10D).
    Tata AIA Life Insurance Sampoorna Raksha + The Tata AIA Life Insurance Sampoorna Raksha + offers a lump sum payout in case of untimely death of the policyholder or a fixed monthly income for a period of ten years. The key features of the Tata AIA Life Insurance Sampoorna Raksha + are listed below:
    • Policyholders can choose between two death benefit options - either for the nominee to receive a lump sum amount following one’s death or a monthly income for a period of 10 years.
    • If the policyholder survives till the maturity of the plan, he/she will receive a return on the premiums paid.
    • Discount in premiums for non-smokers and women.
    • Policy term up to 30 years or till the age of 80 years.
    • Tax Benefits under Section 80D and 10(10D).
    Tata AIA Life Insurance iRaksha Supreme This insurance policy also offers coverage in the case of an eventuality. The key features are listed below:
    • Policyholder can either choose Single Pay (one-time premium payment), Regular Pay or a Limited Pay (5 or 10 years).
    • Policyholders can either choose protection in case of untimely death - where the nominee will receive a lump sum payout, or return of premiums if one survives till the point of maturity.
    • Discount of premiums for policyholders choosing higher level of protection, if they are non-smokers or females or both.
    • Tax Benefits under Section 80D and 10(10D).
    Tata AIA Life Insurance Maha Raksha Supreme Tata AIA Life Insurance Maha Raksha Supreme is a non-linked, non-participating term insurance plan, offering financial security for one’s family in case of an eventuality. The key features are listed below:
    • Policyholder can choose either a Single Premium or Regular Premiums.
    • 50% lump sum payout in the advent of a critical illness with the help of the Payout Accelerator Benefit.
    • Premium discounts for non-smokers and for female policyholders.
    • Tax Benefits under Section 80D and 10(10D).
    Tata AIA Life Insurance iRaksha TROP This insurance policy also offers coverage in the case of an eventuality. The key features are listed below:
    • Policyholder can either choose Single Pay (one-time premium payment), Regular Pay or a Limited Pay (5 or 10 years).
    • Policyholders can either choose protection in case of untimely death - where the nominee will receive a lump sum payout, or return of premiums if one survives till the point of maturity.
    • Discount of premiums for policyholders choosing higher level of protection, if they are non-smoker or females.
    • Tax Benefits under Section 80D and 10(10D).

    Wealth Plans: For those who dream of buying a house, leading a comfortable life post retirement and for those who want to give their children the best education, the Tata AIA Wealth Plans are just for them. With these plans, policyholders can sit and watch their finances grow as they can invest in high-return market-linked instruments. The Wealth Plans also offer liquidity options. Listed below are the different plans that offer wealth solutions.

    Plan Name Key Features
    Tata AIA Life Insurance InvestOne The Tata AIA Life Insurance InvestOne is a unit-linked insurance product that offers liquidity after 5 years of holding the plan, and also comes with maturity and loyalty additions. The key features are listed below:
    • Policyholders can make a single premium payment and enjoy the benefit of an insurance as well as a market linked return.
    • They can also choose the policy term, between 15 years to 30 years.
    • Guaranteed maturity benefits.
    • Loyalty additions every fifth or tenth policy anniversary.
    • Policyholders can choose between 8 fund options.
    • They can invest in two investment portfolios - Protect Returns Of Funds Increased Over Time (PROFIT) and Enhanced Automatic Asset Allocation Plus (Enhanced AAAP).
    • Tax Benefits under Section 80D and 10(10D).
    Tata AIA Fortune Maxima Policyholders can fulfill their long-term goals with the Tata AIA Fortune Maxima. The features are listed below:
    • Policyholders can pay premiums for a limited period but enjoy coverage for their entire life.
    • Choose from 6 fund options.
    • Top-up facility available.
    • They can choose between Enhanced Systematic Money Allocation or Regular Transfer Investment Portfolio Strategy.
    • Policyholders can make partial withdrawals from the funds after 5 years of investing.
    • Loyalty additions to boost one’s investments.
    • Tax Benefits under Section 80D and 10(10D).
    Tata AIA Life Insurance Fortune Pro The Tata AIA Life Insurance Fortune Pro is a non-participating unit linked endowment insurance plan that offers protection for one’s family as well as gives policyholders a guaranteed return on investment. The features are listed below:
    • Policyholders can pay premiums for a limited period but enjoy coverage for their entire life.
    • Loyalty additions to boost one’s investments.
    • Choose from 6 fund options.
    • Tax Benefits under Section 80D and 10(10D).
    • They can choose between Enhanced Systematic Money Allocation or Regular Transfer Investment Portfolio Strategy.
    • Policyholders can make partial withdrawals from the funds after 5 years of investing.
    • Top-up facility available.
    Tata AIA Life Insurance Wealth Maxima The Tata AIA Life Insurance Wealth Maxima is a non-participating unit linked whole life plan that offers a high return on one’s investments as well as offers protection for the policyholder’s loved ones. The features are listed below:
    • Policyholders can pay premiums for a limited period yet enjoy coverage for their entire life.
    • Policyholders can make partial withdrawals from the funds after 5 years of investing.
    • Loyalty additions to boost one’s investments.
    • Choose from 6 fund options.
    • Tax Benefits under Section 80D and 10(10D).
    • They can choose between Enhanced Systematic Money Allocation or Regular Transfer Investment Portfolio Strategy.
    • Top-up facility available.
    Tata AIA Life Insurance Wealth Pro The Tata AIA Life Insurance Wealth Pro is a non-participating unit linked endowment insurance plan which helps the policyholder’s money grow substantially. With this, policyholders can decide on the premium paying term and the duration of their investments. The key features are listed below:
    • Policyholders can pay premiums for a limited period yet enjoy coverage for their entire life.
    • Policyholders can make partial withdrawals from the funds after 5 years of investing.
    • Loyalty additions to boost one’s investments.
    • Choose from 6 fund options.
    • Tax Benefits under Section 80D and 10(10D).
    • They can choose between Enhanced Systematic Money Allocation or Regular Transfer Investment Portfolio Strategy.
    • Top-up facility available.

    Savings plans: For customers who want to save for their future, either for their retirement, their wedding, child’s education, etc., the Tata AIA savings plans are just for them. The Tata AIA savings plans are listed below.

    Plan Name Key Features
    Tata AIA Life Insurance Gold Income Plan The Tata AIA Life Insurance Gold Income Plan is a non-linked, non-participating endowment plan that offers policyholders a guaranteed lump sum on maturity, and a guaranteed income. The key features of the plan are listed below:
    • Policy term of 12 - 15 years.
    • Guaranteed income for the 10 or 15 years. - as chosen by the policyholder.
    • Guaranteed maturity benefit.
    • Income booster anything between 5% and 10%.
    • Tax Benefits under Section 80D and 10(10D)
    Tata AIA Life Insurance Smart Income Plus Tata AIA Life Insurance Smart Income Plus is a non-linked, non-participating endowment plan that helps customers save for their future. The key features are listed below:
    • Policyholders can choose between Regular Income or Endowment options.
    • Guaranteed payouts at 120% to 160% of the annualised premium.
    • Guaranteed life cover for 15-25 years.
    • Premium discounts and other benefits for women.
    • Tax Benefits under Section 80D and 10(10D)
    Tata AIA Life Insurance Monthly Insurance Plan Tata AIA Life Insurance Monthly Insurance Plan helps policyholders accumulate a large corpus by saving every month towards their future goals. The key features are listed below:
    • Save monthly and build a large corpus overtime.
    • Guaranteed yearly additions every years.
    • Lump sum payout at maturity.
    • Life cover 10 times the annualised premiums paid to the nominee in case of untimely death of the policyholder.
    • Tax Benefits under Section 80D and 10(10D).
    • Loan facility is available as well.
    Tata AIA Life Insurance Secure 7 Tata AIA Life Insurance Secure 7 is a non-linked, non-participating endowment plan that offers policyholders the guarantee of higher returns on investments. The key features of the plan are listed below:
    • Policyholders can pay premiums for 7 years and receive an income for an additional 7 years.
    • Life coverage in case of an eventuality.
    • Guaranteed annual income.
    • 25% of the sum assured is payable on maturity.
    • Policyholders can avail tax benefits under Section 80D and 10(10D).
    Tata AIA Life Insurance MahaLife Supreme Tata AIA Life Insurance MahaLife Supreme is a non-participating endowment assurance plan that gives policyholders the benefit of an insurance protection as well as a savings option for their future. The key features are listed below:
    • Policyholders have to choose between a Policy Term and Premium Payment Term.
    • Lump sum payout of the basic sum assured on maturity.
    • Guaranteed income through the policy period.
    • Policyholders can avail tax benefits under Section 80D and 10(10D).
    Tata AIA Life Insurance Fortune Guarantee The Tata AIA Life Insurance Fortune Guarantee is a non-linked, non-participating endowment plan that offers security to the family of the policyholder in case something unforeseen takes place. The key features are listed below.
    • Guaranteed maturity benefit between 138% to 159% of the annualised premiums paid.
    • Choose a 5 year or a 10 year policy term.
    • Basic sum assured 10 times the annualised premiums for the most basic plan.
    • Policyholders can avail tax benefits under Section 80D and 10(10D).
    Tata AIA Life Insurance Insta Wealth Plan Tata AIA Life Insurance Insta Wealth Plan offers individuals and families financial security and comes with the benefit of guaranteed additions and bonuses. The key features as listed below:
    • Guaranteed cover up to Rs.10 lakh.
    • Policyholders have the option of Compounded Bonus or a Terminal Bonus to enhance their savings.
    • Pay premiums for a short period yet enjoy coverage for a lifetime.
    • Policyholders can avail tax benefits under Section 80D and 10(10D).
    Tata AIA Life Insurance Money Back Plus The Tata AIA Life Insurance Money Back Plus is a participating non-linked money back insurance plan that gives customers the benefit of life coverage as well as periodic payouts at various stages of the policyholder’s life. The key features of this plan are listed below.
    • Survival payout upto 130% of the sum assured which is given at regular intervals.
    • Life coverage in addition to the periodic payouts.
    • Policyholders have to pay premiums for only half of the policy term.
    • Lump sum payout at maturity.
    • Policyholders have the option of Compounded Bonus or a Terminal Bonus to enhance their savings.
    • Policyholders can avail tax benefits under Section 80D and Section 10(10D).
    Tata AIA Life Insurance Smart 7 Tata AIA Life Insurance Smart 7 is a limited premium paying non linked participating endowment assurance plan that gives policyholder the chance to save for their future. The key features are listed below:
    • Pay premiums for 7 years and enjoy benefits in another 5 years.
    • Life protection through the entire policy term - 12 years.
    • Lump sum payout at maturity.
    • Policyholders can avail tax benefits under Section 80D and 10(10D).
    Tata AIA Life Insurance MahaLife Gold Plus Tata AIA Life Insurance MahaLife Gold Plus is a limited premium paying, non-linked participating whole life plan that gives financial security for the policyholder’s family and next generation as well. The key features are listed below.
    • Pay premium for 15 years and enjoy a life time coverage up till the age of 85 years.
    • Guaranteed annual coupons for the 10th to 30th year.
    • Non guaranteed cash dividends from sixth year of the policy till maturity.
    • Regular income as well as a lump sum payout on maturity.
    Tata AIA Life Insurance MahaLife Gold Tata AIA Life Insurance MahaLife Gold is a limited premium paying, non-linked participating whole life plan that gives financial security for the policyholder’s family and next generation as well. The key features are listed below.
    • Regular income as well as a lump sum payout on maturity.
    • Pay premium for 15 years and enjoy a life time coverage up till the age of 85 years.
    • Non guaranteed cash dividends from sixth year of the policy till maturity.
    • Guaranteed annual coupons for the 10th to 30th year.
    • Policyholders can avail tax benefits under Section 80D and 10(10D).
    Tata AIA Life Insurance MahaLife Magic Tata AIA Life Insurance MahaLife Magic is a limited premium paying non-linked participating endowment assurance plan that maximises the investments of the policyholder. The key features are listed below.
    • Pay premiums for 9 years, receive lump sum payout at maturity.
    • Guaranteed additional bonuses.
    • Protection for the entire family in case of an eventuality.
    • Policyholders can avail tax benefits under Section 80D and 10(10D).
    Tata AIA Life Insurance Money Maxima Tata AIA Life Insurance Money Maxima is a Regular Premium Paying non-linked participating endowment assurance plan that maximises the investments made by the policyholder as well as give them life time protection. The key features are listed below.
    • Guaranteed additional bonuses.
    • Protection for the entire family in case of the eventuality.
    • Policyholders can avail tax benefits under Section 80D and 10(10D).
    • Loyalty additions on top on one’s savings.

    Child Plans: Focused on offering financial security for your child, the Tata AIA child plans helps customers save for the education and future of their child, as well as offering them coverage in case of an eventuality. Listed are the child plans offered by Tata AIA Life Insurance.

    Plan Name Key Features
    Tata AIA Life Insurance Super Achiever Tata AIA Life Insurance Super Achiever offers coverage for the child in case of the demise of his/her parents. The key features are listed below.
    • Maturity additions at the end of the term.
    • Policyholders can choose between 8 fund options.
    • Choose between Enhanced Automatic Asset Allocation Plus and Profit Investment Portfolio Strategy.
    • Policyholders can make investment top-ups.
    • Policyholders can choose between a lump sum payout at maturity or periodical payments of the sum assured.
    • Policyholders can avail tax benefits under Section 80D and 10(10D).
    Tata AIA Life Insurance Good Kid Tata AIA Life Insurance Good Kid also offers security for the welfare of your child. The key features are listed below:
    • The plan comes with money back benefits for the child’s education or career.
    • Life cover equivalent to 11 times the annualised premium paid.
    • Additional accidental death and dismemberment coverage.
    • Policyholders have the option of Compounded Bonus or a Terminal Bonus to enhance their savings.
    • Policyholders can avail tax benefits under Section 80D and 10(10D).

    Retirement Plans: The Tata AIA Life Insurance gives customers the chance to save for their golden years from a young age. The Tata AIA Life Insurance retirement plan is listed below.

    Plan Name Key Features
    Tata AIA Life Insurance Freedom The Tata AIA Life Insurance Freedom is a non-linked participating endowment plan that helps customers build a substantial corpus for their retirement. The key features are listed below.
    • Policyholders have two different retirement options.
    • Bonus additions to enhance one’s corpus.
    • Policyholders have the option of Compounded Bonus or a Terminal Bonus to enhance their savings.
    • Policyholders can avail tax benefits under Section 80D and 10(10D).

    Health Plans: The Tata AIA Health Plans offer customers protection against uncertainties. It offers coverage for critical illnesses and various other treatments and diseases. The Tata AIA Health insurance plan is listed below.

    Plan Name Key Features
    Tata AIA Life insurance Vital Care Pro The Tata AIA Life insurance Vital Care Pro offers coverage against medical expenses arising from treatments and diseases. The key features are listed below.
    • Critical illness cover up to Rs.60 lakh. This plan covers 15 critical illnesses.
    • No pre-policy health check up required for customers choosing a sum assured below Rs.20 lakh.
    • Available at affordable premiums.
    • Monthly payouts in case of a critical illness.
    • Coverage for spouse through the Duo Care or the Duo Care Plus.
    • Policyholders can choose between a lump sum benefit (Pro Care) or a lump sum benefit with income loss benefit (Pro Care Plus).

    Group Plans: Tata AIA Life Insurance offers coverage for groups, to protect them against any uncertainty. The Group Plans are listed as follows.

    Plan Name Key Features
    Tata AIA Life Insurance Group Total Suraksha The Tata AIA Life Insurance Group Total Suraksha offers coverage to groups with a minimum size of 50 members. The key features are listed below.
    • Coverage for nominee in case of untimely death of the member.
    • Hassle-free issuance and easy enrollment.
    • Single premium payment.
    • Coverage worldwide.
    • Coverage applicable for the commencement of the policy - no waiting period.
    • Quick claim settlement process.
    • Tax exemption under Section 80C of the Income Tax Act of 1961. .
    Tata AIA Life Insurance Group Term Life The key features of the Tata AIA Life Insurance Group Term Life are listed below.
    • Quick claim settlement process.
    • Coverage for nominee in case of untimely death of the member.
    • Hassle-free issuance and easy enrollment.
    • Coverage worldwide.
    • Coverage applicable for the commencement of the policy - no waiting period.
    • Single premium payment.
    • Tax exemption under Section 80C of the Income Tax Act of 1961. .
    Tata AIA Life Insurance Group Immediate Annuity The Tata AIA Life Insurance Group Immediate Annuity allows group members to save their employment fund in a corpus and utilize it in the future in the form of annuity. The features are listed below.
    • Single premium.
    • Policyholders have to choose annuity modes - annually, half-yearly, quarterly, monthly.
    • Opt for receiving annuity through post dated cheques or direct bank transfer.

    How to File A Claim With Tata AIA Life Insurance

    Tata AIA Life Insurance seeks to make it easy for all policyholders to file a claim, and with this in mind, have streamlined their claims processing, assuring policyholders of a release of funds within a few days of intimation of the claim.

    Tata AIA Life Insurance has a 3 step offline claims processing procedure and provides assistance at every step of the way, in addition to providing online tracking so claimants can monitor their claim online.

    Tata AIA Life Insurance has an online claims process procedure as well as an offline one, enabling policyholders to choose a process based on their convenience.

    Online Claims Process

    Tata AIA Life Insurance online claims process consists of 4 steps, all of which are processed online. The claims can be tracked on the website at every stage of the process.

    The online claims process for Tata AIA Life Insurance policies is given below:

    Step 1: Claim Registration

    The claimant is required to register the claim on the Tata AIA Life Insurance website. The following information is to be provided at the time of registering a claim:

    • The type of claim (death claim or living benefits claim)
    • Policy number
    • Date of birth
    • Name of the insured

    On submitting the above information, the claim will be registered and the claimant will receive an acknowledgement of the same.

    Step 2: Upload Documents

    On successfully registering the claim, the claimant will have to upload documents supporting the claim that was filed.

    Step 3: Track Your Claim

    On uploading the documents, the claimant will receive an acknowledgement and can track the status of the claim processing online. The claimant will have to enter the following details to track a claim:

    • Policy number
    • Date of birth

    Alternatively, the claimant can choose to enter the claim number, following which the claim status will be displayed onscreen.

    Once the claim has been processed, the claimant will receive a notification via email/SMS regarding the status. If approved, the payout will be credited to the claimant.

    In the event the claim has been rejected, the claimant will be notified of the same.

    Step 4: Give Feedback

    Claimants can provide feedback of the claims process and register grievances, if any, in the last stage of the process. A representative would get in touch with the claimant to redress any grievance.

    Offline Claims Process

    Tata AIA Life Insurance policyholders can also submit their claims offline. The procedure to file an offline claim is as follows:

    Step 1: Claim Intimation

    The claimant is required to notify Tata AIA Life Insurance of a claim through any of the ways listed below:

    • Walking into a Tata AIA Life Insurance branch
    • Calling on the toll-free number
    • Emailing the Claims Department
    • Requesting a call back from the company

    Step 2: Document Submission and Verification

    After the claim is registered, the claimant is required to submit documents to validate the claim. The documents can be submitted in person and would depend on the type of claim that is being filed.

    In the case of a group death claim, the list of documents to be filed is listed below:

    • Death claim form filled and signed by the master policyholder and nominee.
    • Copy of attested death certificate.
    • Cancelled cheque (nominee).
    • Copy of FIR and post-mortem report (in case of death by accident/suicide/murder).

    For non-accidental deaths, the following additional documentation is required:

    • Copy of medico-legal cause of death certificate.
    • Copy of medical records.
    • Treating doctor’s certificate.

    For death claims, the following documentation is required:

    • Original policy bond.
    • Claimant’s statement form
    • Copy of attested death certificate issued by a local authority.
    • Copy of photo identity and residence proof of the nominee.
    • Copy of the nominee’s bank passbook and a personalised cancelled cheque.
    • Copy of FIR and post mortem report (in case of death due to accident/suicide/murder).

    For non-accidental deaths, the following additional documents are required:

    • Family physician certificate.
    • Copy of medico legal cause of death certificate.
    • Copy of medical records.
    • Treating doctor’s certificate.
    • Employer certificate.

    For hospitalisation claims, the following documents are to be submitted:

    • Treating doctor’s certificate.
    • Claimant’s statement form.
    • Copy of medical records (hospital bill, discharge summary, test reports).
    • Copy of policy certificate.

    Claim settlement ratio of Tata AIA Life Insurance

    Tata AIA Life Insurance is one of the top service providers in the market that provides a range of policies for its customers. When it comes to claim settlement, the company has a streamlined process that ensures quick settlement of claims. The company’s claim settlement ratio for the fiscal year 2016-17 is as follows:

    No. of claim received No. of claims paid Claim settlement ratio
    2,707 2,599 96.01%

    The company’s claim settlement ratio trend since 2011 is as follows:

    Year 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17
    Settlement Ratio 84% 84% 90% 94% 97% 96%

    Documents Required To Buy a Tata AIA Life Insurance Policy

    Individuals and organisations looking to buy a Tata AIA Life Insurance policy can do so in a few simply steps by visiting a branch office or applying online. When applying for a Tata AIA Life Insurance policy, the potential policyholder/policyholders are required to provide certain information and documentation to the company so the application can be processed.

    The list of documents to be submitted when applying for a Tata AIA Life Insurance policy are:

    • Proof of identity
    • Proof of age
    • Proof of income
    • Proof of residence
    • PAN number

    How to Check Tata AIA Life Insurance Policy Status?

    Policyholders who wish to check the status of their Tata AIA Life Insurance policy can do so by looking up the Tata AIA Life Insurance website. Policyholders have to input their policy number and date of birth in order to access details pertaining to their policy status, after which the information would be displayed on screen.

    Tata AIA Life Insurance Online Premium Payment

    Tata AIA Life Insurance policyholders can choose to pay their premiums through multiple mediums. With the aim of making it more convenient for policyholders to pay their premiums with minimum hassle, the company has introduced online premium payments.

    Policyholders can choose to pay their premiums online through a credit or debit card or by using netbanking.

    The process to pay premiums online is listed below:

    • Visit the Tata AIA Life Insurance website and go to the ‘Pay Premiums’ tab on the homepage.
    • Enter the policy details as requested.
    • Choose the method of payment (bank account or debit/credit card).
    • Enter authentication details and authorise the transaction.
    • An acknowledgement will be sent once the transaction has been completed.

    Tata AIA Life Insurance Premium Calculator

    Tata AIA Life Insurance makes it easy for policyholders to calculate the amount of premium payable for a particular policy. The company has an online premium calculator that computes the amount of premium payable for a particular policy based on the policy tenure, policyholder’s age and the sum assured chosen. This provides a hassle-free and accurate way of predicting how much would need to be paid towards a premium for the selected policy.

    Tata AIA Life Insurance FAQs

    1. What are the possible reasons my Tata AIA Life Insurance claim was rejected?

    The possible reasons behind a claim being rejected are listed below:

    • Misstatement of facts pertaining to the claim.
    • The event does not fall under situations that are covered under the policy.
    • Fraud.
    • Withholding of information at the time of buying the policy.

    2. What is the average claim processing time for a Tata AIA Life Insurance insurance policy?

    Tata AIA Life Insurance provides an assurance of claim settlement within a few days of the intimation of a claim provided all documentation is in order and there is no need for further investigation.

    3.Can I register for ECS to pay off my premiums?

    Yes, it is possible to register for ECS (Electronic Clearing Service) to pay off your premiums. The same can be done by submitting an ECS Mandate Form.

    4. What are the various ways I can pay my Tata AIA Life Insurance premium?

    Policyholders can choose to pay their Tata AIA Life Insurance through any of the following methods:

    • IVR (phone) enabled payment
    • Bill Desk (for certain banks)
    • Debit/credit card
    • Netbanking
    • Standing instructions
    • E-Bill payment (for certain banks)
    • Through cheque
    • Cash

    5. What is the online claim filing process at Tata AIA Life Insurance?

    Claimants who wish to file a claim online need to follow the below steps:

    • Register the claim
    • Upload supporting documents
    • Track the claim

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    News About Life Insurance

    • Tata AIG Life Insurance launches new emotional brand campaign

      Called #RakshakarankiReet, Tata AIG Life Insurance has rolled out a new ad campaign that highlights the protective care parents and grandparents have with their young ones. Using this angle, the ad campaign focuses on why citizens should focus on financial protection for their loved ones through their life insurance products. In addition, the ad campaign launched by Tata AIG focuses on the need for life insurance coverage penetration to offer financial protection to the masses. Explaining their ad campaign Tata AIG said, we are extremely happy to announce the launch of our new brand philosophy, ‘#RakshakarankiReet’. ‘Rakshakaran’ is a word born out of the spirit of being protective towards near and dear ones. ‘Raksha’ which means ‘protection’ and ‘karan’ a ‘verb’ which nudges us to act. It expresses the desire to protect one’s family at every turn. This culture of being protective is ingrained in us. It is a ‘reet’, a way of life. As a Life insurer that aims to be the ‘pre-eminent Protection provider’, we intend to reinforce this characteristic through the first campaign of our brand philosophy. The Vice President of the company added by saying thatall of us subconsciously follow many rituals that revolve around protecting our families.

      28 January 2019

    • Tata AIG Life Insurance rebrands its philosophy to connect with customers

      In order to connect with their customers on a more personal level, Tata AIG has rebranded their philosophy and have now called it #RakshakarankiReet. The aim of the campaign was to highlight the care of old people for their loved ones and the generations to come. Of course, the idea behind the rebranding is just to raise awareness and make people think seriously of financial backup for them and their loved ones and dependents. According to the insurer, the aim of their campaign is to ensure that the population of India is completely protected with life insuranec policies and ensure everyone has a financial backup. According to the marketing head of Tata AIG, Kalsi, he said he was extremely happy to announce the launch of Tata AIG’s new brand philosophy, ‘#RakshakarankiReet’. ‘Rakshakaran’ is a word born out of the spirit of being protective towards near and dear ones. ‘Raksha’which means ‘protection’ and ‘karan’ a ‘verb’ which nudges us to act. It expresses the desire to protect one’s family at every turn. This culture of being protective is ingrained in us. It is a ‘reet’, a way of life. As a Life insurer that aims to be the ‘pre-eminent Protection provider’, we intend to reinforce this characteristic through the first campaign of our brand philosophy.

      23 January 2019

    • Tata AIA Life Insurance introduces the ‘Tata AIA Life Insurance Smart Annuity Plan’

      Tata AIA Life Insurance, which is one of the leading insurance firms in the country, has recently launched the Tata AIA Life Insurance Smart Annuity Plan. This policy is a non-linked, single premium, non-participating annuity policy which offers guaranteed income to the policyholder throughout their lifetime. Thus, this policy can help the policyholder manage their expenses during their retirement years.

      The policy offers three annuity options to policy buyers – Immediate Life Annuity, Deferred Life Annuity with Return of Purchase Price, and Immediate Life Annuity with Return of Purchase Price. All three annuity options are available on a joint life and single life basis.

      With this policy, the policy buyer can also opt for an annuitant besides themselves. The annuity payments can be made on an annual, bi-annual, quarterly, or monthly basis, as per the policy buyer’s choice. To purchase this policy, the prospective applicant is required to be at least 45 years.

      7 January 2019

    • Unique guaranteed monthly income scheme launched by TATA AIA life insurance

      TATA AIA Life Insurance has launched the Guaranteed Monthly Income Plan, a non-linked, non-participating life insurance plan which provides guaranteed tax-free regular income on a monthly basis for a period of 24 years. The premium payment term and the policy term for this plan are of 12 years.

      This particular scheme offers the longest duration of tax-free regular monthly income which is of 24 years.

      This particular scheme helps the policyholder take care of long-term goals such as children’s education and needs post-retirement.

      The policyholder will have to choose any one of the following premium payment terms which are for 5 years/8/years/12 years which offers a regular income terms of 10 years/16 years/24 years respectively.

      This plan not only provides a financial cover to the insured’s family but also provides them with a monthly income which can help them in taking care of their future needs.

      Under this plan, the death benefit payable is the highest of 11 times the annualised premium, or 105% of all the premiums paid, or sum assured calculated on maturity, or the absolute sum assured to be paid in case of the death of the insured.

      30 August 2018

    Tata Aia Life Insurance Reviews

    • review Life Insurance
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      I am holding the simple investment plan with the TATA AIG GENERAL INSURANCE and using it from last 2 years. where the maturity period of this policy is for 20 years. The premium i for yearly once with this policy and the policy coverage is for self with this policy.
      Was this review helpful? 0
      , mysore
      Reviewed on Jan 16, 2019
    • review Life Insurance
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      It is the term insurance policy where i have purchased it with the TATA AIG GENERAL INSURANCE and the premium i pay on yearly once basis with this policy. The policy coverage is for self and i am using it since from last 2 years. It is the good policy to use.
      Was this review helpful? 0
      , mysore
      Reviewed on Jan 16, 2019
    • review Life Insurance
      "Best service"
      0.5 4.5/5 "Excellent!"
      I would say TATA AIA is giving better benefits after 6 years compared to LIC. The tenure period is 15 years, It is a life insurance policy. I need to pay the premium for first 5 years and they are giving dividend which am happy. The customer service is pretty good and the online portal is customer friendly. I pay quarterly approx 6000 rupees through online.
      Was this review helpful? 0
      , bangalore
      Reviewed on Dec 14, 2018
    • review Life Insurance
      "Good"
      0.5 4.0/5 "Great!"
      I have taken a term insurance with Tata AIA Life before 2 years. The payment mode is online and am convenient. I got the insurance papers. I need to pay till 70 years and the policy value is 80L. I am paying the premium annually more than Rs.8000.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Dec 08, 2018
    • review Life Insurance
      "Features are good"
      0.5 5.0/5 "Blown Away!"
      I have taken a life insurance with TATA AIA insurance. The customer support is fine. The payment options are also convenient and it is easy to pay the premiums. The sum assured and the plan benefits are fine too. It has been a easy process to get the policy.
      Was this review helpful? 2
      , mysore
      Reviewed on Nov 23, 2018
    • review Life Insurance
      "Average Policy"
      0.5 4.0/5 "Great!"
      My father has taken the life insurance policy for me. I have bought the policy 2 years before. This is not a tax benefitable policy. Because if the brand value i have purchased the policy with TATA AIG. I will make the payment through agent. Overall, I'm happy with the policy
      Was this review helpful? 0
      , vizianagaram
      Reviewed on Oct 30, 2018
    • review Life Insurance
      "Service is Good"
      0.5 3.0/5 "Satisfactory"
      I hold a basic life insurance policy with TATA AIG. I have purchased the policy in the year in 2001. The TATA AIG people approached me personally to take this policy. I will make the payment through cash and i have chosen the half yearly payment mode. I used to pay the premium of Rs. 12000 for a sum assured amount of Rs. 4 lakhs.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 17, 2018
    • review Life Insurance
      "Best term insurance plan"
      0.5 5.0/5 "Blown Away!"
      I'm happy about the service provided by TATA AIG is good. I will recommend term insurance policy because the term insurance premium is low and the coverage is high. I have taken the policy 4 years before. Because of the higher coverage i have selected the TATA AIG. They are offering a sum assured amount of Rs. 50 lakhs. I have chosen the tenure period of 20 years.
      Was this review helpful? 0
      , nala sopara
      Reviewed on Sep 22, 2018
    • review Life Insurance
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      There is no particular reason for taking the life insurance policy with TATA AIA LIFE INSURANCE since last 8 years where i am paying the premium of 10k for yearly once which gives the coverage for self and it get matured at 2031. The sum assured amount i get approximately 4.5-5 lakhs rupees.
      Was this review helpful? 0
      , solapur
      Reviewed on Sep 17, 2018
    • review Life Insurance
      "Good policy"
      0.5 5.0/5 "Blown Away!"
      My term insurance policy was taken with TATA AIA. The policy was taken in the month of September 2016. I used to make the premium amount of rs. 12000 every year. I have chosen the payment mode through online. I have chosen the sum assured amount of Rs. 65 lakhs. I have to pay the premium upto 80 years of my age. Due to the proper customer care service, i have chosen this company.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Sep 10, 2018
    • review Life Insurance
      "Good policy"
      0.5 4.5/5 "Excellent!"
      The claim ratio of the company is 99.9%. I have bought my term insurance policy with TATA AIA. Through credit card, i will make my payment. About a month back, i have purchased this policy. They are offering a sum assured amount of Rs. 1 Cr. I used to pay the premium of Rs. 15000 in a year.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 03, 2018
    • review Life Insurance
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      I have been using the life insurance policy through the TATA AIA LIFE INSURANCE where they have provided the life coverage where i have to pay for 15 years. The premium i am paying for yearly once and which covers for the self but it is a good policy to use.
      Was this review helpful? 0
      , mumbai
      Reviewed on Aug 28, 2018
    • review Life Insurance
      "Life Gold policy"
      0.5 4.0/5 "Great!"
      The response is very much good in TATA AIA. I have bought the policy in 2013. I have made a premium of 80000. I have chose the yearly payment mode. The insurance policy name is TATA MAHA LIFE Gold. The total tenure period of the policy is 15 years. I will have get a sum assured amount of Rs. 10.80 lakhs.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Aug 28, 2018
    • review Life Insurance
      "BETTER"
      0.5 4.0/5 "Great!"
      I have purchased my TATA AIA LIFE INSURANCE through offline mode where the documentation done physically. The customer service is very good were they are very much helpful and they are very polite. the tenuity period is for the 75 years. It covers self not for my family.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jul 24, 2018
    • review Life Insurance
      "Unhappy with the services"
      0.5 1.0/5 "Really Bad"
      I earlier had my life insurance with TATA AIA. At the time of taking the policy, I was told that the benefit would be for a lakh. But finally at the end I was offered only 65K. The team was not transparent in the process and I am not happy with this experience.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 05, 2018
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