Mumbai,
India : One of
India's leading life insurance companies, Tata AIA Life Insurance, is witnessing
remarkable growth for its Tata AIA Premier SIP, a market-linked,
insurance-plus-investment solution. The unique SIP plan provides an innovative
offering that enables young professionals to grow their wealth while ensuring
their families' financial security.
Key Highlights of Tata AIA Premier SIP
·
Tata
AIA Smart SIP combines market-linked investment growth with health protection
benefits into a single plan.
·
With
zero premium allocation charges, you can invest a larger share of your premium
in your chosen fund option.
·
Future
premiums are waived off in case of an unforeseen event, so the policyholder can
still reach his financial goals. The Waiver of Premium benefit is exclusively
available under the Future Secure plan option.
·
Provides
teleconsultations, medical second opinions, preventive health checkups, and
discounts on vaccinations, medicines, and diagnostic tests.
Tata AIA Premier SIP bundles
a host of benefits, enabling investors to build long-term wealth by taking
advantage of a ULIP (Unit Linked Insurance Plan) — a
market-linked product that combines investment and insurance in one plan. A
portion of your insurance premium goes toward life and health insurance
coverage, and the remainder is invested in market-linked funds. Over time, your
investment could bring you higher returns over time, helping you achieve your
financial goals while ensuring protection as well. The plan is designed to help
working professionals achieve a "fikar-free future" through
consistent savings and investing.
A unique feature of
Tata AIA Premier SIP is its Zero Allocation Charges, which ensure that 100% of
the premium paid is invested in the fund option selected. With this approach,
investors get the most out of their investments, and the corpus grows rapidly
from the beginning.
The Waiver of Premium
Benefit ensures that if something unfortunate happens, future premiums are
waived, allowing the investment to keep going. This feature protects the
policyholder's investment plans and gives their family peace of
mind.
Tata AIA Premier SIP
go beyond financial protection by offering health and wellness benefits. From
the comfort of their home, policyholders can get medical second opinion from
doctors, teleconsultations with top doctors, and preventive health checks. They
can also avail discounts on vaccinations, medicines, and diagnostic tests, so
they can be proactive about their health.
The Smart Lady Benefit
gives women policyholders 0.5% more fund units on their first-year premium
(under Limited and Regular Pay options). With this initiative, Tata AIA
continues its commitment to supporting gender-inclusive financial growth and
empowering women investors.
A key component of the
Tata AIA Premier SIP is its flexibility. After the initial five-year lock-in
period, policyholders can select multiple partial withdrawal options based on
their financial needs. These include:
·
Systematic
Withdrawal Plan (SWP):
Allows investors to withdraw a fixed amount or percentage at regular intervals.
·
Chosen-rate
Withdrawal Plan (CWP): This
option lets investors set a target growth rate, and any surplus will be distributed
as payouts.
·
Index-based
Withdrawal Plan (IWP): Offers
payouts when fund value exceeds selected benchmark index, linking withdrawals
to market performance.
Policyholders can
switch between available investment funds at any time without incurring extra
fees or taxes. This enables them to rebalance their portfolios based on market
conditions or evolving financial goals.
Under current tax
laws, the plan also provides tax-free withdrawals and income tax benefits on
premiums paid, as per applicable income tax laws making it a tax-efficient plan
tailor-made for wealth-building.
A wide range of
financial profiles and life stages can be catered to through the Tata AIA
Premier SIP. With a policy term of up to 50 years, the plan secures your long-term
financial standing and wealth generation for individuals between 18 and 50
years of age.
Policyholders can
further enhance protection with Health Buddy benefits, including Terminal
Illness with Term Booster (TTB), Accidental Death Benefit (ADB), and Accidental
Total and Permanent Disability (ATPD). The optional riders enhance financial
security by offering comprehensive coverage against life's unpredictable
events. So, Tata AIA Premier SIP brings forth a comprehensive solution that
offers both health and wealth protection.
Tata AIA Premier SIP
has gained traction as a preferred investment option among India's millennial
and Gen Z workforce due to their strong preference for financial independence
and systematic investing. Today's professionals who desire growth, liquidity,
and security, all in one plan, find the plan's market-linked growth, zero
allocation fees, and flexible withdrawal strategies ideal for their personal
financial goals.
Tata
AIA Premier SIP is 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, Non-participating, Non-Linked,
Individual Health Product (UIN:110N183V01). Both Tata AIA Smart SIP and Tata
AIA Health Buddy are also available for sale individually.
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”.
For further inquiries or media details, please contact:
Media Contact:
Name: Niladri Bhattacharya
Contact: niladri.bhattacharya@tataaia.com