TATA AIA Policy Statement

TATA AIA Policy Statement is a documents that contains the written details of the premium transactions and related things. It is obtainable when an individual purchase an investment plan or life insurance policy.

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What is TATA AIA Policy Statement?

To continue a policy smoothly one needs to be updated with the premiums and other policy details from time to time. The life assured may also find it difficult to keep track of every detail of the policy. This is especially true if one possesses more than one policy. That’s why keeping a policy statement is important. A policy statement is also referred to as a unit statement in the case of investment policies. This is a document that contains the written details of all transactions of an insurance policy.

The TATA AIA Policy Statement can be obtained when a customer purchases an investment policy with the company. It provides all relevant information to the customer regarding the specifications of the policy.

Benefits:

TATA AIA Policy Statement is beneficial to its customers. This document should be kept safe and handy when the policyholder is dealing with policy-related queries. The policy statement is a guide for the policyholder. The policyholder stands to gain the following benefits when he/she refers to and uses the policy statement:

  • It can act as a time and effort saving mechanism for the policyholder. It has all the particulars of the policy listed in one place, and the policyholder doesn’t need to run from pillar to post to clear different doubts.

  • It acts as a guide for the policyholder if and when he/she wants to make any future investments.

  • The policyholder can ascertain how much savings he has in a particular policy by referring to this document. This allows policyholders to plan certain major events in their lives concerning their finances and savings.

  • It allows the policyholder to make informed decisions related to the policy.

  • It clears any confusions that the policyholder might have, especially if he owns more than one policy.

  • It can be used to claim tax benefits at the time when the policyholder files his tax returns, as this document is proof that the policyholder is invested in a specific insurance policy.

How to Get the Policy Statement?

A policyholder may obtain the TATA AIA Policy Statement either online or offline. The procedure to be followed for procurement of the policy statement is explained below:

  1. Online

    To obtain the policy statement online, the policyholder must visit the official website of the company and click on the "Customer Service" option. This will redirect the customer to a page where the customer must search for the tab "Policy Servicing" and click on it. Click on the "Download Statements" option. Now the customer must locate the tab called "Unit Statement" and click on it. The customer must then input the details requested, that is, his user id and password. Once he hits "Submit", the policy document will be displayed.

  2. Offline

    To procure the policy statement offline, the policyholder must visit the nearest TATA AIA branch office and request the document. This is a more labour and time-intensive method and is hence not very popular among policyholders.

Information Required:

The TATA AIA Policy Statement can be viewed by the policyholder online. One simply has to locate the company's official website online and then input the username and password to login into his/her account. The policyholder will then be asked some specifications to mention like:

  • Policy number

  • Date of birth of the policyholder

  • Mobile number of the policyholder

  • Name of the policyholder

Once all these details are received, the policyholder will be redirected to a page where he/she can view the policy statement and get the correct information regarding his policy.

FAQ's

  • What are the Premium Payment options available to policyholders of TATA AIA Insurance Policies?

    Ans: There are numerous premium payment options that a policyholder may make use of to pay his premiums. These include:
    • Online payments through credit/debit cards, net banking etc.
    • E-wallets like Paytm, Jio Money, Amazon Pay etc.
    • Bill Pay
    • Payments made to banking partners of TATA AIA Life Insurance like State Bank of India, Axis Bank, etc.
    • Payment at other retail outlets
    • Payment through Standing Instructions on the credit card, NACH, E mandate etc.
    • Payment through IVR
    • Payment made to any branch office of TATA AIA Life Insurance Co. Ltd.
  • Is it possible for a customer to change the term of the policy?

    Ans: Yes. If a customer decides to make a change in the terms of the policy, he/she may do so. One will have to visit a branch office of TATA AIA to find out the procedure to do the same. It is, however, beneficial to remain invested in a policy for a longer period of time to reap larger benefits.
  • Is it possible to transfer the ownership of an insurance policy?

    Ans: Transfer of ownership of a policy is possible so long as the policy is in force and has not lapsed. This can be done online by the customer. He must raise a request on the company website for the same and upload the documentation that has been requested.
  • What is the procedure to take a loan on a TATA AIA insurance policy?

    Ans: A loan may be applied on an insurance policy online. The customer must raise a request on the company website and upload the documentation that has been requested. Usually, a loan of around 80% of the Surrender Value is granted, so long as the policy has not lapsed and all the premiums have been paid on time.
  • How can a duplicate policy document be obtained if the original one is lost?

    Ans: If the original policy document is lost or misplaced, the policyholder can obtain a duplicate one by raising a service request on the official website of the company. The life assured will be required to pay a fee of Rs 250 along with GST.

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