Tata Pension Plan Calculator

Retirement is a crucial period in an individual’s life and planning for it can be stressful sometimes. Sometimes, we don’t find enough time to plan for our future for various reasons. A pension plan can solve this problem in a jiffy. Tata AIA Life Insurance introduced pension Plans to help their customers plan a sum assured amount, which can help them during their retirement.

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Best Pension Options
  • Get Tax Free Pension For Life

  • Flexibility to withdraw fund value any time

  • Guaranteed Tax Savings

    Under Sec 80 C & 10(10D)

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

Invest ₹6,000/month & Get Tax Free Monthly Pension of ₹60,000

Get the best returns & make the most of your Golden years

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Tata Pension Plan Calculator can help a customer to choose from various available options provided by insurance agencies. Since it is available online for free, customers can use it according to their convenience.

Why Should You Use Tata Pension Plan Calculator?

Many customers don’t have an idea about their insurances, premium amounts, or even how much premium is paid for a particular sum assured amount. With the help of Tata Pension Plan Calculator, customers can know details about their policy, sum assured amount, and even have accuracy on their premium payments. 

Among various available pension plans provided by various insurance agencies in India, customers may find it challenging to choose "the one" plan that is apt for their lifestyle and convenience. Tata Pension Plan Calculator acts as a medium by providing the right plan for their customers.

Tata Pension Plan Calculator is available online for free. So, the customers can easily use it to differentiate between various retirement solutions and know the exact premium amount to be paid for each plan. 

How To Use Tata Pension Plan Calculator?

The process involved in using Tata Pension Plan calculator is simple. This calculator is available online on the official website of the Tata AIA Life Insurance. 

Information to be provided and other steps to follow for using the calculator are:

  • Access the official website.
  • Click on the ‘Retirement Calculator’ option. 
  • Click on that option, and the following page with the online calculator will be opened.
  • One needs to enter information that is requested on the Pension Plan Calculator page. E.g., Name, Gender, Age, Date of Birth, Smoking habits, etc.
  • On the next page, the customer has to enter 'Salary,' 'Retirement Age,' and 'Customer Age.'
  • The calculator will provide an estimation of the sum assured amount, and the premium amount that is needed for the sum assured amount. 
  • If the customer is satisfied with the results, they can proceed and choose the policy.
  • If the result is not up to the customer's expectations, they can provide different details for getting different results.

Advantages of Tata Pension Plan Calculator

Tata Pension Plan provides a set of specifically designed policy options for the customer to choose from. These options can be easily calculated on the online calculator, which is available on their website. 

There are various benefits to using a Tata Pension Plan Calculator. Calculating the premium before finalizing on any Insurance will help a customer. This calculator can differentiate between various plans and provide the best plan that is suitable for the customer. A few of the advantages are given below:

  1. Time and Cost-Efficient

    Since this calculator can be used online, this saves time that is spent on waiting in line at the office of any bank or Insurance Agency. This is free of cost and saves the time and energy for personally visiting an agent to calculate premiums. 

  2. Retirement Insurance Clarity

    Many customers may not be aware of the various provisions of premium calculation or retirement benefit payouts. Policyholders can use this Retirement plan calculator to get an idea of how a retirement plan works. They can also know whether the premium rate offered by the policy is affordable. Thus, a customer can make a sound investment decision and choose the best retirement plan for themselves based on these calculations.

  3. Plan financials

    Once customers can have a clear idea of the premium, they can easily save themselves from issues like unaffordable premiums and delay in payment. Customers can prepare beforehand for paying the premium once they know the policy terms and the exact premium amount that has to be paid.

  4. Premiums calculations for multiple policies

    The online calculator can compare various retirement options available TATA AIA policies and their sum assured amount.

Information Required for Using Tata Pension Plan Calculator

Tata Pension Plan Calculator may require basic information that has to be entered is by the customers:

  • Personal Information – Name, DOB, Age, Retirement Age Gender, annual income, debts, etc.
  • Health Information – Information about health-related issues like smoking habits should be provided.
  • Sum Assured Amount –The retirement Sum assured amount that will be provided at the end of maturity.

Benefits of Buying Tata Pension Plan 

There are various benefits to buying a Tata Pension plan. Some significant benefits are listed below:

  • TATA AIA provides various retirement solutions like Guaranteed Monthly Income Plan, Smart Annuity Plan, and TATA Saral pension Plan. 
  • They provide various options for the customer to choose from for payout modes, policy terms, and single or joint plans. 
  • Customers can choose their retirement age as 55 or 60.
  • Tata Life Insurance provides some great rider benefits. These include accidental death riders and dismemberment riders.
  • Around 10% discount is provided for the premium that is paid annually.
  • Terminal Bonus and Compounded Reversionary Bonus are provided by this plan to enhance the customer's financial status while receiving their sum assured amount. 

Tata Pension Plan Premium Rates

  1. Special Premium Rates

    A special premium rate is available for people who are trying to follow a healthy lifestyle. The non-smokers get special premium rates for their policies. Additional premium savings are available for female customers.

  2. Tax Benefits

    Income tax laws change from time to time. So, the insurance premium rates and sum assured amount comes under the tax laws. However, Tata Life Insurance provides a plan with tax benefits according to the customer's needs. 

    *Standard T&C Apply

    *Tax benefits are subject to change as per tax laws.

  3. Affordable

    Premium rates offered by Tata Life Insurance are affordable and can be customized according to the customer’s needs. As the calculator calculates the customer's salary, expenses, and savings, the premium rates will be 100% affordable for their customers.

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Written By: PolicyBazaar - Updated: 09 August 2021
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