Tata AIA Life Insurance has an excellent retirement/pension plan to help you have a financially secure lifestyle even after you retire from your work. You may be worried if you will have to depend on others once you stop earning your regular income. With the Tata AIA Retirement or Pension Plan, you will be able to enjoy freedom with an excellent retirement corpus.
The retirement plan offered by Tata AIA Life Insurance is known as Tata AIA Life Insurance Freedom. It is a participating plan that is non-linked in nature. With the help of this plan’s funds, you can unwind during your retirement period after working for so many years.
Let us take a look at the benefits and features of the Tata AIA Retirement or Pension Plan category:
Tata AIA Life Insurance offers one retirement plan for people who want to have a relaxed and enjoyable retired life. Let us take a look at the details regarding this plan:
Tata AIA Life Insurance Freedom Plan: This is a participating plan and hence, you will receive dividends from the company depending on the profits earned by the company. With this plan, you will get survival benefit, maturity benefit, terminal bonus, compound reversionary bonus (CRB), and death benefit. You can create a great financial portfolio with this plan. It also offers guaranteed additions so that you can enrich your insurance corpus.
Let us take a look at the benefits as well as features of this plan:
Table showing the Retirement Plan Provided by Tata AIA Life Insurance
|Plan name||Entry age||Maximum maturity age||Premium|
|Tata AIA Life Insurance Freedom Plan||Minimum: 25 years Maximum entry age as on last birthday: For retirement option 1: 45 years For retirement option 2: 50 years||For retirement option 1: 55 years For retirement option 2: 60 years||The minimum premium will depend on the minimum sum assured. The minimum basic sum assured for this plan is Rs.2,00,000 in multiples of 1,000. The maximum sum assured will be fixed according to the underwriting limit.|
You can make your premium payments in monthly, semi-annual, and annual modes according to your specific preferences. The modal loading for monthly premium rate is annual premium rate multiplied by 0.0883. The modal loading for semi-annual premium rate is annual premium rate multiplied by 0.51. There is no modal loading for an annual premium rate.
Tata AIA Life Insurance Freedom Plan is a very important plan for any adult as the life expectancy is increasing with time. Many people are living up to the age of 70 and 80. As people age, they will have more expenditures in multiple ways. You may incur high healthcare expenses, home renovation expenses, travelling expenses, personal expenses, family expenses, and lots more. After a few years, you may not be employed as you would have crossed your retirement age. In such circumstances, it is very critical to have a good retirement or pension insurance plan. Such a plan will help you have a completely peaceful and stress-free life as you are financially safe even if you are not employed.
Tata AIA Life Insurance Company is a collaboration between Tata Sons Ltd. and AIA Group Ltd. (AIA). The company is committed to delivering first-class insurance services for all types of needs. Whether you are a child, a salaried employee, a self-employed individual, or a retired person, you can trust this organisation to provide you with tailor-made insurance solutions. Tata AIA has numerous satisfied customers. It has also obtained a title for its outstanding work, which is the Best-in-Class Net Promoter Score.
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