TATA AIA Life Insurance Premium Calculator

TATA AIA Life Insurance Co. Ltd. offers life insurance at a nominal cost with a variety of products, intending to cater to the varied needs of all its customers.  A customer can avail of life coverage up to the age of 85 years or even opt for whole life coverage, which guarantees coverage to the age of 100 years.

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TATA AIA Life Insurance Premium Calculator can easily be put to use by the customers in order to calculate the premiums that they will be expected to pay for the policy that provides them with the best returns. It can be used for a wide variety of TATA AIA insurance policies for premium calculations.

 Process of Using the Calculator

Using the TATA AIA Premium Calculator is a simple process and can be easily done online.  The customer is required to locate the official website of the company online and search for the calculator.  The calculator provides premiums for three different categories, i.e., Term, Savings, and Retirement.

This is how it can be used:

In the case of Term Policies

  • Select gender.
  • Input date of birth.
  • Select if one is a smoker or a non-smoker.
  • Click on generate a quote.
  • The sum assured, policy term, and premium value etc. will be displayed on the screen.

In the case of Savings Policies

  • Select gender.
  • Input date of birth.
  • Input annual income.
  • Click on generate a quote.
  • The annualised premium, premium payment term, and total guaranteed benefit etc. will be displayed on the screen.

In the case of Retirement Policies

  • Select gender.
  • Input date of birth.
  • Input annual income.
  • Click on generate a quote.
  • The annualised premium, premium payment term, guaranteed monthly payout, and total guaranteed income are displayed on the page.
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Advantages of TATA AIA Premium Calculator

TATA AIA Life Insurance Premium Calculator helps a customer to manage the finances in a way that one can achieve his/her life goals easily.  It offers the following benefits:

  1. Accurate

    The calculator can be used to accurately calculate the premiums required to achieve the respective goals of a customer's life.  It can calculate premiums for a number of policies at the same time.  It cuts down the labour and time that a customer would otherwise need to put in.

  2. Cost-effective

    The calculator can be used free of cost at the official website of the company.  This saves the customer unnecessary trips to the branch office of the company.  The person looking for an insurance policy also need not pay a facilitator to do the work.  He/she can easily purchase the policy based on the estimation that fulfils one’s requirements and fits in the budget.

  3. Helps to Plan Life Events

    With the help of the TATA AIA Premium Calculator, a customer will have an estimate of the future expenses.  This gives a person the opportunity to plan certain major events of life, e.g., marriage, switching job at a time where he/she will be financially secured.

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

Information Required for Using the Calculator

Customers using the TATA AIA Premium Calculator are required to supply the following information on the company website:

  • Personal Information: Gender and date of birth of the customer
  • Health Information: Whether or not the customer is a smoker
  • Financial Information: Annual Income
  • Sum Assured Amount

Benefits:

Life insurance is a long-term commitment, and hence they inculcate the habit of saving in policyholders.  They are a guarantee of the future financial stability that a policyholder will enjoy after the completion of the term of the policy.  They assist in streamlining the life of the policyholder.  

Below are listed the benefits of investing in TATA AIA Life Insurance policy:

  1. Option to Enhance Protection by Using Riders

    Riders are add-ons that customers can purchase at a nominal price to add to the base policy.  This gives the customers extra protection against unforeseen incidents that they might encounter in the future. Some examples are Accident Benefit Rider, Disability Rider, etc.

  2. Savings on Premiums for Higher Coverage

    If a customer opts for a higher level of protection, he can automatically avail the benefits of availing the premiums at a reduced rate.

  3. Tax Benefits

    A customer can enjoy tax benefits on the purchase of TATA AIA Premium Life Insurance.  The tax benefits will be subject to the Income Tax Act.

  4. Life Cover

    A customer can avail of life cover up to the age of 85 years or invest in Whole Life Coverage, which will provide him with cover up to the age of 100 years.

  5. Inbuilt Payout Accelerator

    The policy has an inbuilt pay-out accelerator, which can be used in the event of diagnosis of a terminal illness.  In such a case, the benefits under Basic Sum Assured will automatically increase by 50%

  6. Flexibility in Payment of Premiums

    The customer has the option to choose whether he wants to pay the premiums only once, for a limited period, or in installments throughout the policy term.  This gives him the advantage of more control over his finances.

Why buy Term Insurance early?

Your premium is decided on age at which you buy the policy and remains same, throughout your life

Premiums can increase between 4-8% each year after your Birthday

Your policy application could be rejected or premiums increase by 50-100%, if you develop a lifestyle disease

See how age affects Term Insurance Premiums
See how age affects Term Insurance Premiums
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Reasons for Using the Calculator

The innumerable policies available in the market today can easily intimidate and confuse a first-time customer.  The process of comparing the premiums and maturity benefits of each policy is tedious.  It is also likely that the customer might make mistakes if he attempts to figure out the best options available to him manually.  

Using a calculator eliminates all these risks and provides the customer with an easy, accurate, and quick fix for his problems.

TATA AIA Premium Calculator is a digital tool that helps to determine the premium for a particular policy.  It can provide accurate and quick calculations and can also be used to calculate the premiums of multiple policies.

Here are the reasons why a customer should use a premium calculator:

  • It presents the customer with a clear picture of the investment required from his/her side.
  • It helps the customer understand the difference between the products provided by a company.
  • It is easily available and can be accessed free of charge.
  • It helps the customer to make an informed decision taking into consideration one’s financial constraints.
  • It provides accurate estimates no matter how many times it is used.

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

TATA AIA Life Insurance Premium Rates

TATA AIA Premium Life Insurance offers attractive premium rates that are affordable to people from all walks of life.  However, life insurance rates vary on certain factors, they are as follows:

  • Age of the customer – Younger customers enjoy lower premium rates.
  • Gender – Women get the benefit of lower premiums as compared to men.
  • Sum Assured – A higher sum assured generally guarantees a higher premium rate.
  • Policy Tenure – A longer-term of the policy assures a lower premium amount.
  • Occupation – Customers in high-risk jobs, like miners, pilots, and sailors, automatically have to pay a higher premium.

TATA AIA Premium Calculator can conveniently be used by the customer to obtain a quick, hassle-free, and accurate estimate on the premiums that one will have to pay if he/she intends to invest in the policy.  The tool is useful and assures the customer of a policy that is best suited to his needs.

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Written By: PolicyBazaar
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Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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