TATA AIA Smart Annuity Pension Plan

TATA AIA Smart Annuity Pension Plan is the beginning of a new stage in life, one that should be carefree and calm. You eventually get to living the life of your dreams after years of slaving away to save money for it. You can spend your time engaging in all the hobbies you’ve always wanted to, taking a long vacation and exploring the world, or simply spending a lot of joyful years creating memories with your loved ones. By enabling you to continue to receive a stable income stream after retiring, retirement plans assist you in realizing all of these goals.

Tata AIA Life Insurance Smart Annuity Plan Highlights

For a guaranteed whole life annuity, you must make a one-time premium payment.

  • You can choose from joint life annuities.
  • Options for immediate and deferred life annuities are provided by the plan.

Flexibility in selecting the annuity payout method

  • If you have an urgent need, you can borrow money against this coverage to cover it.
  • Take advantage of Guaranteed Income and Extra Annuity of 2 percent when purchasing online.

TATA AIA Life Smart Annuity Plan Features

Here are a few of the policy’s key characteristics.

  • There are various annuity alternatives available under the scheme.
  • The choice of a solo or joint life annuity is available to the policy buyer.
  • The plan gives you the option to select from various annuity payout modes.
  • A top-up option is available for the policyholder to increase the annuity payout.

What is the Procedure?

  • The policy buyer must plan for their annuity needs, including:

Selecting the cost at which to purchase an annuity plan; or

  • Decide how much of an annuity you want to receive.
  • Second, the insured must select the annuity mode, which can be monthly, quarterly, half-yearly, or annually, and the plan selection.
  • According to the selected mode, the applicant will receive the annuity.

Options for Annuities Under the Smart Annuity Plan

The following annuity choices are offered under the policy:

Instantaneous Life Annuity

In this case, after paying the lump sum, the annuity is given to the annuitant right away. The policyholder has the option of a solitary or joint-life option under an immediate personal annuity option.

Single Life: As long as the annuitant is alive, the annuity will be paid to them in arrears according to the chosen payment method. The payment stops and no additional benefits are paid in the event of the annuitant’s death.

Joint Life Annuity: With this option, the annuity is paid in arrears in accordance with the annuitant’s preferred method of payment. Until the primary or secondary annuitant passes away, the annuity will be paid. If both annuitants pass away, the annuity payout will stop and no further benefits will be paid.

Instant Life Annuity with Purchase Price Refund

The policyholder has the choice to select between the single-life or combined type under this option.

Single Life: The annuity is paid as a guaranteed income for as long as the annuitant is alive, according to the specified mode of payment. When an annuitant passes away, the policy’s beneficiary receives a lump sum payment as the death benefit, and the policy is then canceled.

Joint Life: Until one of the direct and indirect annuitants passes away, the annuity is paid as a guaranteed income in accordance with the selected mode of payment. When both annuitants pass away, the policy is canceled and a lump sum payment is sent to the nominee as the death benefit.

Deferred Annuity With Purchase Price Refund

When the policy is initiated, the policyholder can choose a deferment duration of 1 to 10 years. The appropriate annuity rate will be the same as the one that was promised when the policy was first issued.

Single Life: After the deferment period, the pension will be paid in arrears in accordance with the selected mode of payment as long as the annuitant is alive. Death benefits are paid to the policy beneficiary in the event that the annuitant dies, and no additional amounts are payable after that.

Joint Life: As long as both the direct and indirect annuitants are alive, the pension will be paid in arrears after the deferment period, in accordance with the selected mode of payment. A lump-sum death benefit is given to the insurance beneficiary in the event that both annuitants pass away, and no more payments are made after that.


  • What annuity choices are available under the Smart Annuity Plan?

Any of the above annuity options are available when you buy the Smart Annuity Plan.

  1. Instantaneous life annuity
  2. Instantaneous life annuity with a refund of the purchase price
  3. Delayed life annuity with price reimbursement

How frequently are premium payments made under this retirement plan?

When you acquire the Tata AIA Life Insurance Smart Annuity Plan, your premium is just due once. In accordance with this retirement plan, how do I make a claim?

To contact us and submit a claim, pick any of the following ways

  • Send us an email at [email protected]

  • Contact us by Dialing 1860-266-9966. (Local fees may apply)

  • Step inside any TALIC branch office.

    Write to us straight away at:

  • The Claims Division

  • B-wing, 9th Floor, I-Think Techno Campus, Behind TCS, Pokhran Road No. 2, Close to Eastern Express Highway, Thane (West) 400 607. Tata AIA Life Insurance Company Limited

  • IRDA Regn. No. 110

To purchase insurance coverage, what paperwork would I need?

You must provide the following essential documents in order to purchase insurance coverage.

Address Verification:

The following paperwork is recognized as legitimate address verification.

Bank latest entries from a statement (or passbook) for the last six months

Aadhaar ID


Voter identification card, driving license, and phone/electricity bill

Identity Proof

A few examples of documents that can serve as legal identification include:

  • Passport
  • Aadhaar card
  • Driver’s license

Evidence of income Documents

Only a few plans require these documents, which include the following:

Pay stubs from the past three months

Bank statement for the last six months, income tax returns, and employer certification


Food stamps