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Tata AIA Life Insurance Insta Wealth Plan

What is the Plan all About?

Tata AIA Life Insurance Insta Wealth Plan is a non-linked, participating endowment assurance plan that offers you the benefit of savings and life cover. This plan provides the Maturity Benefit along with Guaranteed Additions. Get the life insurance without going through tedious medical tests.

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What are the Key Features?

  • Get Maturity Benefit
  • Enjoy Guaranteed Additions
  • Life cover with limited premium paying term
  • Hassle - free insurance cover with no financial underwriting
  • Get bonuses to boost savings
  • Premium discount on opting sum assured of Rs 2 Lacs & above
  • Avail tax benefits

What are the Plan Benefits?

Death Benefit

    In case of an unfortunate demise of the life Insured during the policy term, Sum Assured on death along with accrued Guaranteed Additions, plus vested Compound Reversionary Bonus and Terminal Bonus is payable. Sum Assured on death is higher of Basic Sum Assured on Death or 10 times of annualized premium.

    The total death benefit is subject to a minimum of 105% of total premiums paid.

Maturity Benefit

    On survival of the life Insured till the end of the policy term, Basic Sum assured along with accrued Guaranteed Additions, plus Vested Compound Reversionary Bonus (CRB) and Terminal Bonus is payable, provided the policy is in-force.

Guaranteed Addition

    Guaranteed Addition as 1% of the basic sum assured every year is accrued from the policy anniversary after end of the premium payment term till maturity of the policy. The accrued Guaranteed Addition is payable on maturity, surrender or death.

Loan Benefit

    Policy Loan up to 65% of Surrender Value is available in Tata AIA Life Insurance Insta Wealth Plan.

Surrender Value

    Surrender Value payable is higher of Special Surrender Value or Guaranteed Surrender Value. The surrender value can be acquired any time during the term of the policy, provided at least first full policy year’s premium has been paid.

Tax Benefit

    This policy provides tax benefits under Section 80C for the premiums paid and the policy proceeds can also get the tax benefits as per Section 10(10D) of the Income Tax Act, 1961.

Who can Buy the Plan?

Factor Minimum Maximum
Age (as on last birthday) 30 Days 45 Years
Age at Maturity 18 Years 65 Years
Policy Tenure 10/15 Years 20 Years
Premium Paying Term 7/10 Years, 15 Years -
Premium Paying Mode Annually, Semi Annually & Monthly -
Premium Amount Rs 10,000 -
Sum Assured Rs 1 Lac Rs 10 Lacs (0-35 Years), Rs 5 Lacs (36-45 Years)
Freelook Period 15 Days/30 Days (for Distance Marketing Channel) From The Receipt Of The Policy -
Grace Period 30 Days (15 Days For Monthly Mode) -
Plan Type Offline -

Is any Rider Available with this Plan?

No riders can be opted under this plan.

How the Plan Works?

Raman at 35 years, wants to buy Tata AIA Life Insurance Insta Wealth Plan to save regularly with the life cover. He opts this plan with the policy term of 20 years, annual premium of Rs 36,205 and the basic sum assured of Rs 5 Lacs.

Scenario A: Raman Survives the Policy Term

If Mr. Raman survives till the maturity of the policy term, Rs 5 Lacs plus accrued Guaranteed Additions, plus Vested Compound Reversionary Bonus (CRB) and Terminal Bonus is payable. This maturity benefit helps fulfill your financial obligations.

Scenario A: Raman dies during the Policy Term

If Mr. Raman dies during the policy term, his nominee will receive Rs 5 Lacs along with accrued Guaranteed Additions, plus vested Compound Reversionary Bonus and Terminal Bonus.

Benefit Illustration:

Tata AIA Life Insurance Insta Wealth Plan Scenario

Note: The bonus illustration mentioned above are calculated at future investment returns of 8% and 4% respectively. These are non-guaranteed returns and are not the upper and lower limits of rate of returns.