Without a doubt, some of the most priceless and treasured aspects of life are the hopes and aspirations you share alongside your family. You need to have a solid savings strategy in place if you want to make sure that your ambitions come true. You may cross off all of your main and minor life objectives, like as taking a dream vacation, paying for your children’s further education, and purchasing your very own home, with the guaranteed returns* that investment plans give.
This Tata AIA Life Insurance Guaranteed Monthly Income Plan is a financial programme that enables you to save the funds necessary to achieve the significant life milestones and realize your ambitions. You can gain from life insurance with this strategy.
2. Key advantages Secured Returns
- Insurance protection with guaranteed returns and the flexibility of single payment, regular income, and entire life income benefit
- Assured income
- Monthly income for as long as you need it—up to 288 months
- Insurance protection
- Life insurance is a must to protect your loved ones’ future.
- Take home pay growth
- Hefty premium Increased monthly income as a result of paying higher premiums
3. Long-Scale Accidental Death and Dismemberment (ADDL) Rider
Because life can be unanticipated, you should be ready for it in order to protect your loved ones more effectively. Any unplanned incident might have an impact on your family’s financial stability because such crises frequently necessitate lump-sum financial aid to get through the ordeal.
In the sad event of the policyholder’s death or dismemberment, the Tata AIA Life Insurance Accidental Death and Dismemberment (Long Scale) (ADDL) Rider offers a practical way to help bridge the financial gap for your family. Furthermore, this rider guarantees that your family will get a portion of the rider sum assured if the policyholder sustains severe dismemberment as a result of an accident, such as serious burn wounds.
Key rider advantages:
This rider offers your family protection by providing a lump sum payment in the event of an unintentional demise. In the event of specific accidental fatalities or decapitations, the benefits are quadrupled (details in the booklet). This rider guarantees that your family will receive a portion of the Rider Sum Assured in the event of disability or dismemberment as a result of an accident (as mentioned in the brochure). The Income Tax Act’s Section 80C provides tax benefits for amounts paid under this rider.
4. Rider Waiver for Premium Plus (WOPP)
The family’s budget is severely strained when one of the family members suffers a total and permanent disability. Maintaining the premium payments levied on the life insurance investment plan may be challenging due to the unforeseen expenditures of diagnosing and curing such a disability. The ability to pay premiums may also be hampered by the death of an earning member. Your life insurance coverage would be canceled if you failed to pay your premiums when they became due.
Even if you are unable to pay the premiums, the (WOPP) Rider, an optional premium-paying rider, ensures that the unemployment insurance under the plan continues to be in effect.
Key Rider Advantages:
This connected Travel Insurance provides coverage equal to the base plan’s Premium Payment Term (PPT). The benefits provided by this rider are intended for the base plan’s proposer. All future basic plan premiums will not be charged if the proposer passes away, develops a total and permanent disability as a result of an accident or illness, or becomes otherwise unable to pay the premiums on time. If the proposer dies or becomes disabled before turning 70 years old or before the conclusion of the premium-paying term, the advantages of this rider are still valid (PPT)
FAQs
Q1. How long does the Guaranteed Monthly Income Plan’s monthly income benefit last?
Ans – You have the option to arrange your monthly income for 10, 16, or 24 years under Tata AIA Life Insurance’s Guaranteed Monthly Income Plan.
Ans – The following premium payment frequencies are available to you.
1. Annually Biannually
2. Quarterly
3. Monthly
Q3. How can I submit a claim for benefits under this savings plan?
Ans – To contact them and submit a claim, pick any of the following ways.
Send them an email at [email protected].
1. The number to call is 1860-266-9966. (Local fees may apply)
2. Step inside any TALIC branch office.
3. Write to them straight away at:
4. The Claims Department, Tata AIA Life Insurance Company Limited, 9th Floor, I-Think Techno Campus, Behind TCS, Pokhran Road No. 2, Next to Eastern Express Highway, Thane(West) 400 607. IRDA Regn. No. 110
Q4. What paperwork would I need to purchase an insurance policy?
Ans – To purchase insurance coverage, you must provide the essential documents listed below.
To purchase insurance coverage, you must provide the essential documents listed below.
Evidence of address
The following records are recognised as legitimate evidence of your address:
a. a bank statement or passbook containing the most recent six-month worth of entries
b. ID card, Aadhaar
c. Voter’s ID, a passport, and a driver’s license
d. Ration card Electricity/Telephone Bill
Evidence of identification
A few examples of documents that can be used to prove your identity include:
Aadhaar card, passport, and driver’s license
papers demonstrating income eligibility
These records, which are only necessary for some schemes, consist of:
the last three months’ worth of pay stubs Income tax returns and employer certifications, as well as six months’ worth of bank statements modern Form 16
Q5. Rides are what? With the Guaranteed Return Insurance Plan, which riders am I able to purchase?
Ans – The protection and advantages you receive from your basic insurance policy can be improved by adding riders, which are supplemental clauses.
I. Accidental Death and Dismemberment (Long Scale) (ADDL) Rider for Tata AIA Life Insurance (UIN:110B028V03)
II. The Waiver of Premium Plus (WOPP) Rider for Tata AIA Life Insurance (UIN:110B029V02)