Tata AIA Life Insurance offers an innovative investment plan, the Tata AIA Premier SIP, which seamlessly blends systematic investing with life and health insurance protection. With this unique offering, individuals can grow their wealth steadily while ensuring the financial well-being of their families.
Key Highlights
- The Tata AIA Premier SIP combines mutual fund investment growth potential with life and health insurance coverage to meet both investment and security needs.
- Ensures that 100% of the premiums are invested toward fund growth, and policyholders can switch funds at any time.
- Future premiums are waived when the policyholder dies or becomes disabled, keeping the investment protected without additional financial burden.
- Supports women’s financial growth and empowerment by giving 0.5% additional fund units on the first-year premium.
Tata AIA Premier SIP, a combination of the Tata AIA Smart SIP, a Non-participating, Unit-linked, Individual Life Insurance Savings Plan (UIN: 110L174V01), and Tata AIA Health Buddy, a Non-participating, Non-linked, Individual Health Product (UIN:110N183V01,) is a great bridge between mutual fund investing and life insurance. Investing in mutual funds allows investors to grow their wealth by participating in the market, but they do not provide any financial protection against life’s uncertainties. Alternatively, traditional life insurance does not offer market-linked growth, but it does provide security. Through its ULIP plan structure, Tata AIA Premier SIP offers market-linked returns along with life cover and health benefits.
Tata AIA Premier SIP combines the benefits of Tata AIA Smart SIP with Tata AIA Health Buddy. With them, you get a comprehensive solution that covers wealth creation, asset protection, and holistic well-being.
As a ULIP, it enables customers to invest in top-performing, market-linked funds while enjoying life insurance coverage under the same plan. By combining these advantages, individuals can systematically create wealth, while also making sure their loved ones remain protected in difficult times. The plan eliminates allocation charges, ensuring every rupee of premiums is invested to maximise long-term wealth creation.
A zero allocation charge and unlimited fund switch give policyholders complete transparency and control. They can change their investment dynamically to adapt to changing market conditions or financial goals without incurring extra fees. Upon death or disability, the Waiver of Premium Benefit automatically waives all future premiums, protecting your investment.
Moreover, Tata AIA Health Buddy offers optional covers like Terminal Illness with Term Booster (TTB), Accidental Death Benefit (ADB), and Accidental Total and Permanent Disability (ATPD). With these features, your plan adapts to real-life contingencies and offers holistic financial protection.
Apart from market-linked returns and protection, Tata AIA Premier SIP includes health and wellness support, which sets it apart. With teleconsultations, medical second opinions, and preventive health check-ups, policyholders can stay proactive about their health. Plus, customers get discounts on diagnostics, vaccinations, and medicines, making healthcare management easier and more affordable.
A Smart Lady Benefit gives women policyholders 0.5% extra fund units on their first-year premium (under Limited and Regular Pay). The addition of this simple yet impactful feature will facilitate the growth of wealth for women investors and help them achieve greater financial independence.
After the initial lock-in period, policyholders may access their funds through various withdrawal options, such as the Systematic Withdrawal Plan (SWP), Chosen-rate Withdrawal Plan (CWP), or Index-based Withdrawal Plan (IWP). With these smart methods, investors can generate secondary income streams while keeping their core investmentsintact – just like mutual funds but with insurance coverage.
This investment plan is open to individuals aged 18 to 50 years, with flexible policy terms up to 50 years. Depending on the customer’s preference, Limited Pay (5 to 20 years) and Regular Pay (10 to 50 years) options are available.
Tata AIA Premier SIP offers tax benefits under prevailing laws on both premiums paid and returns received, enabling policyholders to enhance savings while building wealth over time.
With these benefits, Tata AIA Premier SIP serves as a complete solution for customers who are seeking more than just traditional investment and insurance products. In one convenient plan, you get the security of life and health insurance and the growth potential of mutual funds.
About Tata AIA Life
Tata AIA Life Insurance Company Limited (Tata AIA) is a joint venture Company formed by Tata Sons Pvt. Ltd. and AIA Group Ltd. (AIA). Tata AIA Life combines Tata’s pre-eminent leadership position in India and AIA’s presence as the largest, independent listed pan-Asian life insurance group in the world, spanning 18 markets in the Asia Pacific region.
Tata AIA reported a total Premium Income of INR 31,484 crore for FY25, up 23% from FY24. The Company continues to rank among the Top 3 Private Insurers in Individual Weighted New Business Premium (IWNBP) with an IWNBP income of INR 8,511 crore.
About the Tata Group
Founded by Jamsetji Tata in 1868, the Tata group is a global enterprise, headquartered in India, comprising 30 companies across ten verticals.
The group operates in more than 100 countries across six continents, with a mission ‘To improve the quality of life of the communities we serve globally, through long-term stakeholder value creation based on Leadership with Trust’. In 2023-24, the revenue of Tata companies, taken together, was more than $165 billion. These companies collectively employ over 1 million people.
Each Tata company or enterprise operates independently under the guidance and supervision of its own board of directors. There are 26 publicly listed Tata enterprises with a combined market capitalisation of more than $365 billion as on March 31, 2024.
About AIA
AIA Group Limited and its subsidiaries (collectively “AIA” or the “Group”) comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets –wholly-owned branches and subsidiaries in Mainland China, Hong Kong SAR (3), Thailand, Singapore, Malaysia, Australia, Cambodia, Indonesia, Myanmar, New Zealand, the Philippines, South Korea, Sri Lanka, Taiwan (China), Vietnam, Brunei and Macau SAR (4), and a 49 per cent joint venture in India. In addition, AIA has a 24.99 per cent shareholding in China Post Life Insurance Co., Ltd.
The business that is now AIA was first established in Shanghai more than a century ago in 1919. It is a market leader in Asia (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$305 billion as of 31 December 2024.
AIA meets the long-term savings, and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia, AIA serves the holders of more than 43 million individual policies and 16 million participating members of group insurance schemes.
AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock codes “1299” for HKD counter and “81299” for RMB counter with American Depositary Receipts (Level 1) traded on the over-the-counter market under the ticker symbol “AAGIY”.
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