TATA AIA Child Plans

TATA AIA Child Plans are insurance policies specifically designed to meet children's financial needs. These plans offer a combination of life insurance coverage and investment opportunities to help parents save and grow funds for their child's future needs, such as education, marriage, or other milestones.

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Investing in your child's future:A wise decision & a loving choice
  • Insurer pays premium in case of loss of life of parent

  • Create wealth for child’s aspirations

  • Tax Free maturity amount+

  • 12+ plans available

Nothing Is More Important Than Securing Your Child's Future

Invest ₹10k/month your child will get ₹1 Cr Tax Free*

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What are Child Plans?

Child plans are financial products designed to help parents or guardians save and invest money for the future needs of their children. These plans offer a combination of savings and insurance benefits aimed at securing a child's future education, marriage, or other significant life events.

  • Savings Component: Child plans allow parents to save money regularly over a specified period, which accumulates to meet future financial needs such as education expenses or marriage costs.

  • Insurance Protection: Many child plans also provide life insurance coverage for the parent or guardian who is the policyholder. This ensures financial security for the child in case of any unforeseen events that may impact the earning capacity of the parent or guardian.

TATA AIA Child Plans

  1. Tata AIA Fortune Guarantee Plus

    • Type: Non-Linked, Non-Participating, Individual Life Insurance Savings Plan

    • Key Features:

      • Guaranteed returns: Provides a fixed percentage of the paid premium as guaranteed annual income after maturity for a chosen income period, regardless of the policyholder's survival.

      • Life insurance cover: Offers financial protection to your family in case of your unfortunate demise.

      • Income options: Choose between regular income or regular income with an inbuilt critical illness benefit.

      • Flexible payment terms: Pay premiums as per your convenience in monthly instalments or one-time payments.

      • Income term options: Choose an income term ranging from 20 to 45 years.

    • Benefits: Guaranteed income stream, life insurance cover, tax benefits (under applicable tax laws) and optional rider benefits. 

    • Suitable for: Individuals seeking guaranteed returns and income generation along with life insurance for their family.

    Plan at Glance:

    Criteria  Regular Income  Regular Income with an Inbuilt Critical Illness Benefit 
    Minimum Entry Age 1 years  18 years 
    Maximum Entry Age  60 years  60 years 
    Minimum Age at Maturity 18 years  23 years 
    Maximum Age at Maturity  77 years  70 years 
    Income Period  20 to 45 years (in multiples of 5 years).
    The Policy Term + Income period is within the range of 25 years to 50 years
    30 years for 5 pay and 25 years for 10 pay
    Mode of Payment   Annually & Monthly Annually & Monthly
    Coverage  Single Life & Joint Life (Joint Life for Single Pay option only) Single Life & Joint Life (Joint Life for Single Pay option only)
    Minimum Premium  Single Pay- ₹5,000 Limited Pay / Regular Pay- ₹24,000 p.a. Single Pay - ₹5,000 Limited Pay / Regular Pay – ₹24,000 p.a.
    Maximum Premium  No Limit  No Limit 
  2. Tata AIA Capital Guarantee Solution

    Tata AIA Capital Guarantee Solution is a financial product offered by Tata AIA Life Insurance. It combines two insurance products: Tata AIA Life Insurance Smart Income Plus and Tata AIA Life Insurance Fortune Pro/Tata AIA Life Insurance Wealth Pro.

    Plan at Glance:

    Criteria  Minimum Maximum
    Plan Option Endowment, this option can be chosen at the end of the plan
    Age at Entry (years) 18  50
    Premium (Rs)
    (Premium in multiples of 1000)
    ₹50,000   No Limit, subject to Board approved
    underwriting guidelines
    Premium Payment Term (PPT) (years) / Policy Term(years)
    PPT  PT
    7 15
    10 21

    Investment Investment
    Secure Secure
    Child Banner
    Secure your child’s future with or without you
    Start Investing
    ₹10,000/Month
    & Get
    ₹1 Crore*
    *Standard T & C Apply

    People also read: Sukanya Samriddhi Yojana

  3. Tata AIA Fortune Pro- WOP

    Tata AIA Fortune Pro- WOP is a Unit Linked Insurance Plan (ULIP) offered by Tata AIA Life Insurance that combines investment, life insurance, and critical illness protection with an added Waiver of Premium (WOP) benefit. 

    Waiver of Premium (WOP) Benefit:

    This is the unique feature of the "WOP" variant. If you are diagnosed with a critical illness covered under the rider, future premiums are waived off while the policy continues, ensuring your family's financial security and continued coverage even if you cannot pay premiums due to the illness.

    Features of this plan:

    • Flexible Premiums: Choose your policy term, payment term, and frequency to match your budget and goals.

    • Optional Riders: Add extra protection with riders, like critical illness cover or premium waiver.

    • Strategised Investment: Invest wisely with the "Enhanced SMART" strategy for structured market exposure.

    • Tax Benefits: Enjoy potential income tax savings under current laws.

    Plan at Glance:

    Minimum Issue Age  0 years (30 days)
    Maximum Issue Age  65 years
    Minimum Maturity Age  18 years
    Maximum Maturity Age  80 years
    Policy Term 6 to 40 years
    Premium Paying Term Single Pay and Limited Pay – 5 to 20 years
    Regular Pay – 12 to 40 years
    Pay Mode Single, Annual, Semi-Annual, Quarterly, Monthly
    Minimum Premium Single Pay – ₹25,000
    Regular/Limited Pay – ₹12,000 per annum
    Maximum Premium Single Pay – ₹5,00,000
    Regular/Limited Pay – ₹5,00,000 per annum
    Minimum Basic Sum Assured For Single Pay – 1.25 times the Single Premium
    For Regular / Limited Pay – 7*AP
Invest More Get More
Invest ₹10K/Month YOU GET ₹1 Crores* For Your Child View Plans
Invest ₹8K/Month YOU GET ₹80 Lakhs* For Your Child View Plans
Invest ₹5K/Month YOU GET ₹50 Lakhs* For Your Child View Plans
Standard T&C Apply *

People also read: Tata Life Flexi Growth Fund NFO

Why Choose Child Plans?

Child plans are specifically designed financial products that offer a combination of insurance and investment benefits modified to meet the future financial needs of a child.

  • Financial Protection: Ensures financial security for children in case of unexpected events.

  • Long-term Savings: Helps in disciplined saving for future needs like education or marriage.

  • Tax Benefits: Offers tax advantages on premiums and maturity proceeds.

  • Flexible Options: Allows customisation based on financial goals and risk tolerance.

  • Discipline and Commitment: Encourages regular savings and financial planning.

  • Peace of Mind: Provides assurance that children's future needs will be met.

Applying For Child Plans Through PolicyBazaar

To buy a child plan from PolicyBazaar, follow these steps:

  • Visit the PolicyBazaar homepage and navigate to the "Personal" tab.

  • Click on "Child Plans" from the dropdown menu.

  • Fill out the lead form by providing your name and mobile number.

  • After filling out the lead form, click on the "View Plans" button.

  • Provide details such as your city, income, your age, and your child's age on the next page then, click "Continue."

  • You will be directed to the quotes page, where you will find quotes from more than 10 insurers.

  • Next, choose the plan type based on the payment schedule – whether it's a One Time Payout or Monthly Payout Plan.

  • Select the plan that best suits your needs and click on "Get details". 

Following these steps will guide you through the process of purchasing a child plan from Policybazaar.

Conclusion

TATA AIA Child Plans offer a comprehensive solution for parents seeking to secure their children's future financial needs. By choosing TATA AIA Child Plans, parents can ensure a stable financial foundation that nurtures their children's dreams and aspirations, providing a pathway to a secure and prosperous future.

Frequently Asked Questions

  • Who can buy a TATA AIA Child Plan?

    Any Indian resident parent or guardian can purchase a TATA AIA Child Plan for a minor child.
  • Do TATA AIA Child Plans offer any tax benefits?

    Premiums paid towards TATA AIA Child Plans are eligible for tax deductions under Section 80C and 10(10D) of the Income Tax Act, subject to the prevailing limits.
  • What are the charges associated with TATA AIA Child Plans?

    All plans have different charges like policy administration fees, fund management charges, etc. Review the plan brochure carefully to understand the associated costs.
  • How to pay premium? What are the modes of payment available?

    TATA AIA life Insurance offers 5 modes of premium payment namely;
    • Online Payment

    • DropBoxes

    • Auto debit

    • Cheque collection center

    • Payment Collection Center.

    For online payment mode, the policyholder can pay via;

    • NEFT transfer

    • Activating auto debit facility in the bank account

    • Quick pay via ICICI portal

    • Internet Mobile Payment Service

    Alternatively, the policyholder can pay in cash or drop cheque at any of the payment collection centers or dropboxes mentioned on the TATA AIA website.

  • How can I check policy status for Tata AIA Child Plans?

    If you are a registered user, directly log into TATA AIA website with relevant username and password. You would be directed to the homepage of your policy account. Now simply click the tab “Check Policy Details” to check the status of your policy and other relevant details. For new policyholders they must register on the website and proceed with the same steps.
  • What is the policy renewal process for Tata AIA Child Plans?

    TATA AIA offers the policyholders a chance to renew their policy online. Simply log into the portal and follow the link that leads to secured payment process. You can renew your policy by using debit, credit card, or net banking option.Opt for Auto Renewal, when you initially sign up for the policy to save efforts and time. If you did not then you can do now by contacting customer helpdesk at the same toll free number.
  • What is the company’s process to settle claim for Tata AIA Child Plans?

    Company offers a transparent claim process. The policyholder can register claims by submitting their request at the customer care helpdesk or via an SMS. Upon receiving complete documents, the claim is settled within 7 working days. There are dedicated offices at certain locations to directly file the claims.
  • What is the policy cancellation process for Tata AIA Child Plans?

    The policyholders must attach the relevant policy documents along with a filled surrender form at any of the branch locations in their city. Upon receiving the correct documents, the deposited amount is credited into the policyholder’s bank account as per the company’s records, and the policy is cancelled.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Please note that the quotes shown will be from our partners
*Tax benefit is subject to changes in tax laws
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
#The lumpsum benefit is calculated if policyholder invested ₹10000 monthly for 10 years in the fund with a policy term of 20 years. This Point To Point past performance data of last 10 years has been used to illustrate a scenario for the customers benefit. It is assumed that the past 10 years returns would have also been delivered in last 20 years. This is not guaranteed and not in anyway indicative of what the customer may actually get 20 years from now. The investment is subject to market risk and the risk is borne by the policyholder.

Child Plan

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Child Plan

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Secure your Child’s
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Start Investing ₹10,000/Month
& Get ₹1 Crore*
*Standard T & C Apply
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Child Plan 2
Average Rating
(Based on 25 Reviews)

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Tata AIA Child Plans Reviews & Ratings

4.1 / 5 (Based on 25 Reviews)
(Showing Newest 10 reviews)
Gautam
Amritsar, October 18, 2016
TATA AIA Insurance Company.
TATA AIA life insurance company provides wide range of insurance plans. I took child insurance policy from them in low investment. The coverage is high approx. 90% and the premium is less. Services facilitated by the executives and staff members is fast and on time.
Namit
Holalkere, August 25, 2016
Trustable Plan
My father gave me child insurance policy which he purchase's from tata aia life insurance. The policy is great and it has very flexible terms and conditions. Premium of the insurance plan is low and claims are high.
Ratikant
Bhojpur, July 27, 2016
Nice Insurance
The child insurance i purchase for my child is very nice and service provided by tata aia life insurance is fantastic. Good coverage for the future of the child and maximum expenditure spend by the plan. Claims are easy to sanctioned because of fast service given by the staff members.
Devesh
Atariya, July 12, 2016
Child Plan
Child insurance plan in less premiums which facilitate all the benefits. Policy coverage is high it covers maximum expenditures. Claiming is easy part due to fast service provided by the company. Online service provides easy renewals.
Darpan
Agra, June 30, 2016
Good Policy
The child insurance plan i purchase for my grandson is good. Service is okay and manageable. Policy coverage and claims are fantastic. Internet site service is simple everybody use is easily. I'm now tension free for my grandson's future.
Omesh
Palwal, May 06, 2016
Great Deal
I have tata aia child plan. The policy coverage is high ~92% and the claims are even better. Services provided by the executives and the staff member of the company is great and very responsive at anytime. The policy premium is low. Good future investment plan which save my taxes. Great work guys.
Lalit
Bangalore, May 06, 2016
Better Plan
I have tata aia child insurance policy. Policy coverage is good 87% and the claims are easily sanctioned. Premiums are low 12 K quarterly. The payback return is around 34 L after policy get mature. The service is fast and on time. Nice future investment with tax saving. I like it.
Karan
Jammu, May 06, 2016
Tax Saver
I got tata aia child plan which provides good services and even the policy premiums are low approx. Rs.14 k thrice Per year for 19 years. The paybacks are high with good interest and the response is always i get from your company members. Great future investment.
Jiten
Mussorie, May 06, 2016
Excellent Policy
The policy i have is tata aia child plan. The policy premium is low and the payback returns are very high. The policy coverage is high ~90% and the claims are good. Service are good and great experience with your executives and staff members. I like the policy plan.
Prashant
Manipal, May 06, 2016
Poor Policy
I purchase tata aia child plan is very okay. The policy coverage is 69%. The claims are okay and the premiums are normal. The claiming is easily sanctioned because service facilitate by executives and staff members. The best thing is it save taxes.
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