Tata AIA Pension Plans

Tata AIA Pension Plans offer a robust solution for individuals seeking to secure their financial future post-retirement. With a focus on reliability and flexibility, these plans provide a structured approach to building a retirement corpus while offering various benefits such as tax advantages and guaranteed returns.

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  • Peaceful Post-Retirement Life

  • Tax Free Regular Income

  • Wealth Generation to beat Inflation

Invest ₹6,000/month & Get Tax Free Monthly Pension of ₹60,000
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What is Tata AIA Pension Plan?

Tata AIA Pension Plan is a retirement investment option offered by Tata AIA Life Insurance Company Limited, a joint venture between Tata Sons and AIA Group Limited. This best pension plan is designed to help you accumulate funds during your working years to secure a steady income post-retirement.

It offers various benefits such as regular income payments after retirement, tax benefits on contributions, flexibility in choosing the retirement age, and options for guaranteed or market-linked returns depending on the chosen plan variant. The Tata AIA Pension Plan aims to provide you with financial security and stability during your retirement years.

Best Tata AIA Pension Plans in India in 2024

The following table lists the three best investment plans offered by Tata AIA Pension Plans in India:

Tata AIA Pension Plans Entry Age Vesting Age Premium Payment Term (PPT) Policy Term (PT) Sum Assured on Vesting*
Tata AIA Fortune Guarantee Retirement Ready Option 1 & 2: 18 – 75 years;
Option 3 (Primary Life): 18 – 65 years;
Option 3 (Secondary Life): 18 – 75 years. 
40 – 85 years Single Pay;
Regular/ Limited: 5 – 15 years
Single Pay: 5 – 50 years;
Regular: 5 – 15 years;
Limited: 6 – 50 years.
Rs. 30,000 p.a. – No Limit

Tata AIA Fortune Guarantee Pension Option 1 & 2: 30 – 85 years;
Option 3 & 4: 30 – 84 years.
NA. Single Pay; Regular/ Limited: 5 – 12 years Single: 1 – 10 years;
Regular: Same as PT;
Limited: PPT + 1 year to PPT + 5 years
Rs. 12,000 p.a. – No Limit
Tata AIA Saral Pension 40 – 80 years NA.  Single Pay 1 year Rs. 12,000 p.a. – No Limit

*The sum assured on vesting is subject to the Board Approved Underwriting Policy (BAPU).

Details of Top Tata AIA Pension Plans in 2024

  1. Tata AIA Fortune Guarantee Retirement Ready Plan

    The Tata AIA Fortune Guarantee Retirement Ready Plan is a retirement plan offered by Tata AIA Life Insurance. It is a non-linked, non-participating plan, which means that the returns are not linked to the market performance, and there are no bonus payments.

    Features of Tata AIA Fortune Guarantee Retirement Ready Plan:

    • Flexibility: Choose from three plan options: My Pension, Partner Pension, and Partner Pension Plus.

    • Guaranteed Additions: Get guaranteed additions of 6% of the sum assured on vesting, boosting your retirement savings.

    • Lump Sum Vesting Addition: Receive a lump sum Vesting Addition payment upon reaching the vesting period.

    • Premium Payment Options: Choose between Single, Limited, or Regular premium payment terms.

    • Special Discounts: Enjoy special discounts for Women, Transgender individuals, and young policyholders.

    • Tax Benefits: Take advantage of tax benefits under Section 80C of the Income Tax Act, 1961, to save on taxes while securing your retirement.

  2. Tata AIA Fortune Guarantee Pension Plan

    The Tata AIA Fortune Guarantee Pension Plan is a non-linked, non-participating individual life insurance plan designed to provide you with a guaranteed income after retirement.

    Features of Tata AIA Fortune Guarantee Pension Plan:

    • Lifetime Guaranteed Income: Receive a guaranteed income for life after a deferment period, payable monthly, quarterly, half-yearly, or annually.

    • Deferment Period: Time between purchasing the policy and the start of annuity payments, ranging from 1 to 10 years.

    • Premium Payment Options: Choose from single pay, limited pay, or regular pay options.

    • Death Benefit: If the policyholder dies during the deferment period, the nominee receives the higher of total premiums paid or a guaranteed amount, plus accrued guaranteed additions.

    • Tax Benefits: Premiums qualify for tax deductions under section 80C of the Income Tax Act (subject to changes).

  3. Tata AIA Saral Pension Plan

    The Tata AIA Saral Pension Plan is a single premium, non-linked, non-participating, individual, immediate annuity plan offered by Tata AIA Life Insurance. This retirement plan is designed to provide you with a guaranteed income stream for your entire lifetime after you invest a lump sum amount.

    Features of Tata AIA Saral Pension Plan:

    • Lifetime Guarantee: Receive a steady income for your whole life, as per policy conditions.

    • One-time Investment: Begin with a single lump sum.

    • No Medical Tests: Avoid the hassle of medical exams.

    • Flexible Payout Options: Customize your annuity payments to match your preferences—monthly, quarterly, half-yearly, or yearly.

    • Life Annuity with 100% Return of Purchase Price (ROP): Get back at least what you invested, even if you pass away before the policy ends.

    • Joint Life Last Survivor Annuity with 100% Return of Purchase Price (ROP): Ensure income for both you and your spouse while either of you is alive, with a refund to the nominee if both pass away.

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Invest ₹10K/Month YOU GET ₹1.5 LAKHS* MONTHLY PENSION View Plans
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Invest ₹5K/Month YOU GET ₹75 THOUSAND* MONTHLY PENSION View Plans
standard T&C Apply *

People also read: Tata Life Flexi Growth Fund

Steps to Buy Tata AIA Pension Plans from Policybazaar

You can follow the steps mentioned below to purchase the best-suited Tata AIA Pension Plans through Policybazaar:

Step 1- Visit Policybazaar Website: Open your preferred web browser and go to the Policybazaar website.

Step 2- Navigate to Pension Plans: Locate the section dedicated to pension plans, usually found under the "Insurance" or "Pension" category.

Step 3- Select Tata AIA: Explore the list of available pension plans and choose Tata AIA from the options provided.

Step 4- Compare Plans: Review the features, benefits, and premiums of different Tata AIA pension plans to find the most suitable one for you.

Step 5- Customize Your Plan: If offered, personalize your chosen plan according to your preferences, such as premium amount and coverage period.

Step 5- Use the Tata Pension Plan Calculator: Policybazaar also offers a Tata Pension Plan Calculator to help you estimate your potential returns. This can be helpful in understanding how much retirement income you might generate.

Step 7- Provide Personal Information: Enter your personal details, including name, age, and contact information as required during the application process.

Step 8- Fill Out Application Form: Complete the application form accurately, ensuring all necessary fields are filled.

Step 9- Submit Documents: Upload any required documents, such as proof of identity, address, and income.

Step 10- Review and Finalize: Double-check all the information provided in the application form before finalizing your purchase.

Step 11- Make Payment: Pay the premium amount using the available payment options like net banking, debit/credit card, etc.

Step 12- Confirmation: Expect to receive a confirmation of your purchase from both Policybazaar and Tata AIA, containing details of your policy and payment receipt.

Step 13- Policy Issuance: Await the issuance of your Tata AIA pension plan policy documents, which will be sent to you electronically or via mail.

Benefits of Buying Tata AIA Pension Plans through Policybazaar

Policybazaar can be a helpful platform to research and compare different plans in the following ways:

  • Comparison: Policybazaar simplifies comparing Tata AIA pension plans for easier decision-making. You can use the NPS Calculator to compare the pension amount from Tata AIA pension plan and the National Pension Scheme (NPS).

  • Tax Benefits: Policybazaar clarifies tax advantages for Tata AIA pension plans under Indian tax law.

  • Convenience: Policybazaar offers online purchasing, saving time over direct dealings with Tata AIA.

  • Customer Support: Policybazaar provides assistance with queries and the application process.

  • User Reviews: Policybazaar hosts user reviews for insights on Tata AIA pension plans.

  • General Convenience: Policybazaar consolidates insurer research in one place, saving time.

  • Neutral Advice: Policybazaar offers unbiased guidance as it is not affiliated with any specific insurance company. 

In Summary

Tata AIA Pension Plans are a great way to make sure you have enough money for when you retire. They give you choices, good returns, and support when you need it, making them a smart option for securing your future.

Tata AIA Pension Plans - FAQ

  • What types of pension plans does Tata AIA offer?

    Tata AIA offers two main types of pension plans:
    • Annuity Plans: These annuity plans provide guaranteed regular income after you retire. You can choose to receive payouts immediately or defer them for a set period.

    • Guaranteed Returns Retirement Plans: These plans offer guaranteed returns on your investment and come in three options: lump sum payout, regular income, or whole life income.

  • What are the benefits of investing in a Tata AIA Pension Plan?

    Following are the key benefits offered by Tata AIA Pension Plans in India:
    • Guaranteed income: These plans offer predictable income after retirement.

    • Flexible payout options: Choose to receive payouts immediately or defer them.

    • Tax savings: You may get tax benefits on your contributions.

    • Loan options: Get loans against your policy in some plans (subject to conditions).

  • What are the different annuity options available in Tata AIA plans?

    The different annuity options offered by Tata AIA Plans are as follows:
    • Immediate Life Annuity

    • Immediate Life Annuity with Return of Purchase Price

    • Deferred Life Annuity (with or without Return of Purchase Price)

  • How do I choose the right Tata AIA Pension Plan for me?

    You should consider your retirement goals, risk appetite, and desired income stream to choose the appropriate Tata AIA Pension Plan.
  • 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
    • Cash/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 Pension 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 Pension 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 toll free number.
  • What is the company’s process to settle claim for Tata AIA Pension Plans?

    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 for Tata AIA Pension 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.

    Please check Retirement Plans India

*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

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Tata AIA Pension Plans Reviews & Ratings

4.1 / 5 (Based on 25 Reviews)
(Showing Newest 10 reviews)
Prabhat
Bishnugarh, October 18, 2016
Perfect
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.
Pranav
Maidinipur, August 25, 2016
"Coverage Is Good"
Recently my son purchased me a pension plan from tata aia life insurance company ltd. The premium is normal of the policy and the return amount is big. I'm very happy to have this insurance policy which give me such service.
Prashant
Nilgiris, July 27, 2016
Retirement plan
TATA AIG life insurance facilitate me pension plan which has low investment and less premiums too. The service you provided is best, because of this the claiming procedure is simple. Policy coverage is maximum and updates are mailed daily.
Bhupesh
Lohaghat, July 12, 2016
Pension Policy
My pension plan is the best among all the other plans. Service is superb provided by the company. Policy coverage and claims are fantastic. The claiming procedure is easy because of fast service given by the company.
Gambhir
Ballabhgarh, June 30, 2016
Average Pension Plan
The pension plan is very necessary insurance for everyone in this risky life and hard future time for middle class people. I have one which has low premiums but the paybacks are really very high. Service you provided is good and claiming become easy.
Kamal
Gwalior, May 10, 2016
Very Good
I have tata aia pension plan. Policy is good and the paybacks are high. Policy coverage is good ~93% and the claims are high too. Premiums are around 15.7 K trice per year and the amount i get at the end of the policy is 41.2 L. Great work, I like this plan.
Tushar
Allahabad, May 10, 2016
Excellent Work
I buy tata aia pension policy plan and now tension free for my future. The policy coverage is nice ~87% and the claims are good. The premiums are low but the paybacks are really good in respect to premiums. The service is fast and on time. Behaviour is also nice shown by executives.
Vijay
Jaipur, May 10, 2016
Fine
My pension policy plan is with tata aia life insurance. The policy coverage and claims are high. The premiums are low and the payback returns are really very high. I must say you guys doing great work. The services have super sonic speed. Good work by executives and staff members.
Amitabh
Mangalore, May 10, 2016
Great
The pension policy plan i bought from tata aia life insurance is great. The policy coverage is 89% and the claims are of Rs.43 L after the policy ends. The investment is low approx. Rs.21 K thrice per year. The services are nice which provided by the company. Nice future savings. I like the plan.
Badri
Gurgaon, May 10, 2016
Perfect
The tata aia pension plan i have is the perfect one. The policy coverage is good ~92% and the claims are high. The premiums are low ~19 K quarterly per year. And the returns are much more than this around Rs.45 L. Service is very fast and the executives with staff members are behave well. Good investment and tax saving.
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