Life Insurance 13054 views November 27, 2019

Tata AIA Life Insurance

About Tata AIA Life Insurance Company

Tata AIA Life Insurance Company Ltd is one of the most trusted and reputed life insurance companies in India. Further, this company was established by the joined forces of Tata Sons Private Limited and AIA Group. This coalition brings a blend of the trust of the Tata group along with the excellency of the AIA group that which is one of Asia’s largest insurance group with its business spanning across 18 countries.

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The Tata AIA Life Insurance reviews have always been positive, and the company has created a very loyal customer base. The Tata AIA Life Insurance products are designed to provide their customer with financial security and amazing survival benefits on maturity. Even the Tata AIA Claim Settlement Ratio for 2019-20 is 99.06%, which is commendable.

Vision and Values

This life insurance company’s core aim is to provide people with health and life insurance policies that would give them a sense of financial security. Also, Tata AIA Life Insurance returns are loaded with amazing premium benefits that are dedicated to giving their consumers a financial boost on their survival till the maturity term-end.

Moreover, this company also claims to be the provider of the best customer services, as well. The customer care support is a 24 hours facility provided to the consumer for helping them in making a choice and aiding them in choosing the best Tata AIA plans and making payments as well.

Payments and Policies

The payment policies of Tata AIA are quite easy to follow. There are multiple modes of payment that makes it convenient for every customer.

Moreover, this company also provides ease of payment to its consumer through the Tata AIA customer login portal online. Further, this portal also helps its customers to know about their Tata AIA Life Insurance policy status as well. It allows the customer to make Tata AIA Life Insurance premium payments, keep a track of their maturity dates as well as other services like address and phone number updation, etc.

Types of Tata AIA Life Insurance Plans

There are multiple options of Tata AIA smart investment plans which can be taken. They are:

Protection Solutions

which are given for the benefit of the customer’s protection purposes. The plans under this category are:

  1. Sampoorna Raksha Plan
  2. Sampoorna Raksha+ Plan
  3. iRaksha TROP Plan
  4. iRaksha Supreme Plan
  5. Maha Raksha Supreme Plan

Wealth Solutions

Which helps the customer to build his investment portfolio along with insurance coverage. The plans under this category are:

  1. Invest One Plan
  2. Fortune Maxima Plan
  3. Fortune Pro Plan
  4. Wealth Maxima Plan
  5. Wealth Pro Plan

Savings Solutions

Which gives guaranteed returns to the customers. The plans under this category are:

  1. Guaranteed Return Insurance Plan
  2. Guaranteed Monthly Income Plan
  3. Diamond Savings Plan
  4. Gold Income Plan
  5. Smart Income Plus Plan
  6. Monthly Insurance Plan
  7. Secure 7 Plan
  8. Maha Life Supreme Plan
  9. Fortune Guarantee Plan
  10. Insta Wealth Plan
  11. Money-Back Plus Plan
  12. Smart 7 Plan
  13. Smart Growth Plus Plan
  14. Mahalife Gold Plus Plan
  15. Mahalife Gold Plan
  16. Mahalife Magic Plan
  17. Money Maxima Plan
  18. POS Smart Income Plus Plan

Child Solutions

Plans specific for children are. The plans under this category are:

    1. Good Kid Plan
    2. Super Achiever Plan

Retirement Solutions

Those plans are specially designed for the purpose of retirement planning for individuals. The plans under this category are:

    1. Guaranteed Monthly Income Plan
    2. Freedom Plan
    3. Smart Annuity Plan

Health Solutions

These are health-oriented insurance plans. The plans under this category are:

  1. Tata AIA Life Insurance Vital Care Pro Plan

Top 3 Most Popular Types of Tata AIA Life Insurance Plans

Tata AIA Life Insurance Sampoorna Raksha Plan

Tata AIA Life Sampoorna Raksha Plan is a traditional life insurance plan with flexible survival benefits options. This plan is the perfect one to opt for if you’re looking for a simple plan that would also give financial security to your family along with a few amazing monthly benefits as well.

In Tata AIA Life Sampoorna Raksha Plan, you will have four payment options to choose from, which makes this plan very flexible. You can either choose the basic options to get a lump sum amount on maturity or unfortunate demise. Or you can also get a monthly income after certain years of maturity. Moreover, with this plan being extendable, it is a perfect life insurance policy to opt for.

Tata AIA Child Insurance Policy

Children are one of the most precious gifts, and to give them wings to follow their dreams securing money for their future is a must. The early you start investing in your child’s future, the better it is for their higher education.

The Tata AIA lets you invest money for your child’s future at a very early age with flexible premiums, maturity period, and return investments along with added bonus as well. This would actually help you in saving up a lot for your kid’s education and also will let you have monthly income as well after a certain year. The insurance terms for child insurance can be of max 21 years with monthly premiums according to the plan you opt for.

Tata AIA Health Insurance Policy

The Tata AIA Life Insurance Vital Care Pro lets you get a financial backup for unfortunate illness for yourself and your spouse. As you might never know, when a health calamity falls over you, but with the smart investment, you can always be financially ready to face it head-on.

This Tata AIA Health Insurance Plan has a number of amazing features, such as flexible maturity terms and premiums. Also, this plan covers 15 critical illnesses in it as well, worth 60 lakhs. Moreover, this plan also partially covers the medical expenses of your spouse.

Why to Trust Tata AIA Life Insurance Plans?

Tata AIA Life Insurance Plans can be trusted owing to the following attributes –

Wide Range of Life Insurance Plans

Tata AIA offers multiple life insurance plans serving the purposes of different customers. Those seeking protection for their loved ones in their absence can apply for any of the Tata AIA offers flexible term plans. If you want to earn investment returns, there are wealth and savings solutions of Tata AIA to look forward to. Similarly, those looking for a comfortable life post-retirement can apply for any of the Tata AIA retirement plans. So, it’s a one-stop solution for all your insurance needs.

Flexible Policy and Premium Payment Terms

Customers get flexible policy and premium payment terms when applying for TATA AIA Life Insurance Plans. For example, Tata AIA Sampoorna Raksha Supreme Plan comes with a policy term of as short as 13 months to as long as 564 months. Similarly, the premium payment term can range from 13-983 months.

Multiple Premium Payment Frequencies to Choose from

You can choose from multiple premium payment frequencies according to your convenience – monthly, quarterly, half-yearly and single. A single payment mode means one needs to pay the premium only once during the policy term. Yes, the premium amount will most likely be much higher compared to when you choose the other options. So, if you have a bulk amount and the same serves your life insurance purpose the best way, no harm in paying such an amount.

Easy Premium Payment & Claim Settlement Services

Multiple premium payment methods and easy claim settlement services make for a rewarding experience with Tata Life Insurance Plans. You can pay the premium online using any of the multiple payment options – net banking, debit card, credit card, UPI, etc. All the benefits of the plan will feel negligible if the company has a poor claim settlement service. At the time of claim, you would expect faster disbursal and less formalities. This is what you are likely to have at Tata AIA. Such services have helped the company register an impressive claim settlement ratio of 99.06% for 2019-20.

How to Pay the Premium of Tata AIA Life Insurance Plans Online?

You can pay the premium within a few minutes on the website of Tata AIA Life Insurance. Below are the steps you need to follow to ensure the same online.

  • Go to the official website of Tata AIA Life Insurance
  • Click on ‘Pay Premium’
  • Enter the 10-digit Policy Number and Date of Birth
  • Click on ‘Validate’
  • Enter the Premium Amount and pay the same

How to Get Premium Certificate?

You can get the Premium Certificate by entering the Policy Number and Captcha and clicking on the ‘Verify’ button.

Tata AIA Life Insurance Calculators

Tata AIA Life Insurance offers several calculators that can help you in more ways than one. These are term calculator, retirement calculator, saving calculator, etc. The term calculator tells you the amount required to secure the future of your family in your absence. You could know the amount you need to invest periodically to accumulate the desired retirement corpus using the retirement calculator.

Tata AIA Life Insurance Claim Services

To file a claim under your Tata AIA Life Insurance Policy, follow the steps shown below:

  • Submit the proof of death
  • Duly filled claim form along with bank details
  • Photo ID, Address proof and Relationship proof

The claimant can notify the insurer about the claim using any of the following channels:

  • File a claim on the official website of Tata AIA Life Insurance
  • Send an email to claims@tataaia.com
  • Call Tata AIA Life Insurance helpline number
  • Visit Tata AIA Life Insurance branch offices
  • Write directly to the Claims Department of Tata AIA Life Insurance at Tata AIA Life Insurance Company Limited, B- Wing, 9th Floor, I-Think Techno Campus, Behind TCS, Pokhran Road No.2, Close to Eastern Express Highway, Thane – (West) 400 607. IRDAI Regn No. 110

Documents Required for Death Claims

You need to submit the following documents to the insurer:

  • Claimant’s statement
  • Photo identification proof such as Aadhaar Card, Voter ID Card, PAN Card, etc.
  • Current address proof of the claimant
  • A cancelled cheque
  • Death certificate of the life assured (Issued by a local government body like Municipal Corporation / Appropriate Authority)
  • Original policy document
  • Proof of legal title

If there’s no nomination, submit a legal succession paper
Cause of death – related document

  • Attending physician’s statement
  • Medical records such as admission notes, discharge/death summary, indoor case papers, test reports, etc. (if applicable)

In case of accidental or unnatural death, you need to submit the following additional documents.

  • Copy of the First Information Report (FIR) or Panchanama/Police complaint
  • Copy of the postmortem report (Autopsy report) and Viscera report (if performed)
  • Copy of the Final Police Investigation report (FPIR) or the charge sheet

Note: The insurer may ask for other documents based on your case.

How to Notify the Insurer About the Claim Online?

You can intimate the insurer about the claim online by following the steps shown below:

  • Visit the official website of Tata AIA Life Insurance
  • Click on the ‘Customer Services’ button
  • Select ‘Claims with Ease’
  • Click on the ‘Register Claim Online’ button
  • Enter claim details, details of the claimant
  • Click on the ‘Submit’ button

Conclusion

Tata AIA Life Insurance rank in India as among one of the top insurance companies that are known for providing best services to its customers. With the incorporation of modern aesthetics such as online payments and registration, this company is keen on providing state of the art services to its customers. Moreover, according to the above Tata AIA Life Insurance review, most of the plans are designed to be very flexible where customers can get a Tata AIA insurance policy with a minimum premium. Also, each plan provides amazing returns and survival benefits as well as maturity, which makes this life insurance company a perfect financial backup to count on for securing the financial conditions of your family.

Note – The Claim Settlement Ratio of TATA AIA Life Insurance is sourced from Economic Times, which puts the figure from the IRDAI Report 2019-20.

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