Tata AIA Life Insurance - Compare Various Insurance Plans Online
- 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 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 21 Mar 2023
| 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:
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| 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:
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| Tata AIA Life Insurance iRaksha Supreme |
This insurance policy also offers coverage in the case of an eventuality. The key features are listed below:
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| 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:
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| Tata AIA Life Insurance iRaksha TROP |
This insurance policy also offers coverage in the case of an eventuality. The key features are listed below:
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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:
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| Tata AIA Fortune Maxima |
Policyholders can fulfill their long-term goals with the Tata AIA Fortune Maxima. The features are listed below:
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| 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:
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| 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:
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| 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:
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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:
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| 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:
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| 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:
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| 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:
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| 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:
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| 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.
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| 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:
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| 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.
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| 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:
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| 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.
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| 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.
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| 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.
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| 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.
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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.
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| 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:
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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.
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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.
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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.
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| Tata AIA Life Insurance Group Term Life |
The key features of the Tata AIA Life Insurance Group Term Life are listed below.
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| 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.
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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 AIA Life witnesses 66% growth in 2018-19 in new business premium
The new business premium of Tata AIA Life Insurance Company (Tata AIA Life) has managed to record a growth of 66% for the financial year 2018-19. The premium was recorded at Rs.2,476 crore for the same period. There was a growth of 60% in the Individual Weighted New Business Premium (IWNBP) to Rs.2,232 crore. This makes the private life insurance firm the fifth largest player in terms of IWNBP performance and one of the fastest growing in the country. In the last fiscal, Tata AIA Life occupied the sixth position. The net premium income for the year also witnessed an increase of 45% to touch Rs.5,596 crore. In the meantime, the total renewal premium income increased by 34% to Rs.3,593 crore. The persistence that the life insurer has been showing for 13 months also went up to 83.3% in comparison to the 81.2% recorded during the previous fiscal. The total Asset Under Management (AUM) of Tata AIA Life also grew by 18% from Rs.24,025 crore in the last fiscal to Rs.28,430 crore in this fiscal.
10 June 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
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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
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