Tata AIA Life Insurance Company Limited (Tata AIA Life) 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.
How to pay premium? What are the modes of payment available?
Tata AIA life Insurance offers 5 modes of premium payment namely;
Cash/Cheque collection center
Payment Collection Center.
For online payment mode, the policyholder can pay via;
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?
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?
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.
What is the company’s process to settle claim?
Company offers a transparent claim process. The policyholder can register claims by submitting their request at the customer care helpdesk . 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?
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.
Tata AIA Life Insurance - Latest News
AIA Group Receives Approval to purchase 23% additional Stake in Tata AIA Life
January 18,2016 : CCI (Competition Commission of Indi, the fair trade regulator, has approved the purchase of an additional 23% by AIA Group in Tata AIA Life Insurance, its joint venture with the TATA group. Currently AIA group holds a 26% stake in the JV and this additional purchase would raise its stake in Tata AIA Life Insurance to 49%.
This decision to purchase an additional stake by the AIA Group is viewed to be a direct result of government’s decision to allow an increase in foreign direct investments in private insurance companies to 49%. Though the details of the deal have not yet been confirmed, Tata AIA Life Insurance is set to receive a fresh cash infusion at completion of the deal. The JV which initiated operations in the year 2001, features a wide range of products that cater to the wealth creation, savings and protection needs of Indians.
Tie up between Tata AIG Insurance and Vakrangee took shares up by 2%
Shares of Vakrangee grew by 2 % as the company publicized its corporate tie up with Tata AIG General Insurance Company, which is a joint venture between American International Group (AIG) and Tata Group. This tie-up will assist in distributing value general insurance products by the means of Vakrangee distribution network. As per the BSE filing, this tie-up will ensure easy access to quality general insurance products offered by Tata AIG General Insurance Company for the citizens in underserved and un-served areas. The company will be announcing its results for the third quarter (i.e. the quarter ended December 31, 2015) on February 6, 2016. Presently, Vakrangee is trading at Rs 185.2, up Rs 2.45, or 1.34 % from its earlier closing of Rs. 182.75 on the BSE.
Tata AIA’s #CatchUp Campaign Still Going Strong
Tata AIA Life Insurance, the leading private sector life insurance JV between Tata Sons and AIA group, has continued running its #CatchUp campaign to rope in new customers. The campaign has focused on the key issue of most Indian families specially those in the middle class being under insured or uninsured. Tata AIA uses its proprietary “CatchUp Calculator” to let individuals know how far behind they are from their actual insurance requirement as compared to their current insurance coverage.
The campaign was launched in January 2016 and has continued trending since that time. Apart from letting prospective future customers know how much additional insurance they and their family members need with respect to their income, the calculator will also provide options regarding Tata AIA products that the prospect may be eligible for. The Quick Check CatchUp Calculator take only 30 seconds to provide results, while the Advance Check feature of the calculator requires 2 minutes and takes into account multiple criteria provided by the user.
AIA increases its stake to 49% in Tata AIA/AIG Life joint venture
AIA group completed the purchase of 23% additional stake in the Tata AIA life joint venture on Monday (April 26, 2016) for a total sum of Rs 2,055 Crore. This takes AIA’s total stake to 49%. The other 51% is held by Tata Sons. This also means that the total valuation of the Tata AIA Life Insurance Company stands at Rs 8,935 Crore. The increase in stake comes after the Indian government relaxed the investment norms in Insurance sector.
Tata AIA Life Insurance was launched in April 2001 as a joint venture in India. Since then it has registered premiums of Rs 2,122 crore. Their net profit stands at Rs 264 in the fiscal year 2014-15. AIA group spun off from the American AIG group in 2012 and it is now headquartered in Hong Kong. AIA group is the world’s second-largest insurance company by virtue of market value. This increase in stake means that AIA is taking a keen interest in expanding their business in India.
Tata AIA to Purchase 70% Stake in PNB Metlife
In a recent board meeting, Tata group and its partner AIA group have placed a proposal to obtain 70% stake in PNB Metlife upto the limit of Rs. 2700 Cr. They have also proposed to merge it further with Tata AIA Life Insurance Company.
The decision was finalized in the meeting that was held on 24th October, 2016. The details of this decision have been filed as a part of the petition of Cyrus Mistry against the trust in National Company Law Tribunal (NCLT).
The sources have revealed that according to the deal structure, as far the stakes are concerned, PNB will either sell the put option in the merged set-up within 3 years or AIA and Tata group will sell the call option in 4-5 years post merger. Started its operation in April 2001, Tata AIA Company aims to serve and secure the lives of approximately 3 million consumers by the year 2020.
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Tata AIA Life Insurance Reviews & Ratings
4.1 / 5 (Based on 129 Reviews)
(Showing Newest 10 reviews)
Kanpur, March 10, 2021
Last year when I bought a tata aia term plan I have found various good plans into the policybazaar website. Such a good place to plan a term plan. They helped me a lot to get the best term plan. Thanks.
Aranthangi, March 09, 2021
I am happy that I have been a part of policybazaar and tata aia term plan. As their process is stress free and best. I really like the product which is been given by the policybazaar.
Barchana, March 20, 2019
Finally I found a trustable policy after comparing with all different policies of different policy providers. Tata Aia Ulip Plan provides low premiums and policy coverage meet my requirements.
Dwarka, January 23, 2019
I have opened a Sampoorna Raksha+ plan with TATA AIA term insurance. I was not sure about the in-depth details of the plan and its benefits. I logged on to the Policybazaar website as I had seen many advertisements for the brand on TV. I entered my details on their website and one of their representatives contacted me.
I had talked to other people too about the term insurance but the way Policybazaar executive explained the plan, was very simple and easy to understand. I was able to get all my confusions cleared beforehand and got the insurance policy opened.
The documents involved were minimal and the process was also easy to follow. It took only 4 days to complete the process and I received my policy documents on my communication address as well as my email. All in all, I am really happy and satisfied with my experience with Policybazaar and Tata AIA.
Guwahati, October 18, 2016
Marvelous Insurance Plan
Having term insurance policy which is so beneficial and the investment is also low. Service provided is quick and on time. Online renewals are made so simple through online portal service. Policy coverage is good and claims are even better.
Bishnugarh, October 18, 2016
The benefits and advantages of the pension policy is amazing and comes after policy get matured. My policy is from tata aia life insurance company ltd. Service is also absolutely fabulous and on time. Policy coverage and claims are high.
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.
Gorakhpur, September 27, 2016
When anyone talk about insurance policy, I suggest a tata aia life insurance because it is very trust worthy company and comes from ages to ages. I purchased ulip insurance plan from them in less premiums and the returns are big. Service is fast and on time which is facilitate by the executives and members of the insurance company.
Kolavada, September 27, 2016
After a long web search, got great traditional insurance policy which i took from tata aia life insurance company. Service is fantastic provided by the executives and staff members of the insurance company. Policy coverage is high approx.89% and the claims are even better. Procedure of the claims are very easy due to fast service.
Gurgaon, September 27, 2016
TATA Term Policy
Got the tata aia term insurance policy in low budget and coverage is high as promised. Service given is very nice and staff member of the company available 24X7. Claiming is simple and renewals are done through online portals which is very good service.
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