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Invest In Top Rated1 Funds to Get the Returns You Deserve
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ULIP - Unit Linked Insurance Plans
ULIP - Unit Linked Insurance Plans
A ULIP policy is a type of life insurance plan that offers dual benefits, life cover and the option to invest in the financial market for wealth creation. Secure your family while creating wealth for your financial future with Tata AIA Life Insurance Wealth Solutions!
Investment plans play a crucial role in financial planning by creating wealth, securing financial goals, and preparing a stable platform for a steady future. Tata AIA Life Insurance offers varied ULIP plans tailored to individual financial needs.
Life cover and Wealth Solutions Under One Roof
In This Policy, The Investment Risk in Investment Portfolio Is Borne by The Policyholder
Param Rakshak Pro
Solution Composition
Param Rakshak Pro solution comprises of Tata AIA Smart Sampoorna Raksha Pro, A Unit-linked, Non-participating, Individual Life Insurance Plan (UIN: 110L172V01) and Tata AIA Vitality Protect Plus, A Non-linked, Non-participating, Individual Health Rider (UIN: 110A048V03). Tata AIA Smart Sampoorna Raksha Pro is also available individually for sale.
Param Rakshak (Return of Premium)
Solution Composition
Param Rakshak solution comprises of Tata AIA Life Insurance Smart Sampoorna Raksha - A Unit-linked, Non-participating, Individual Life Plan for Savings and Protection (UIN:110L156V03) and Tata AIA Vitality Protect Plus - A Non-linked, Non-participating, Individual Health Rider (UIN: 110A048V03). Tata AIA Life Insurance Smart Sampoorna Raksha is also available individually for sale.
ULIP – Unit-Linked Insurance Plan
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What Is A ULIP Policy?
A Unit Linked Insurance Plan, the ULIP Policy, is a life insurance plan that combines life insurance coverage with investment options.
- The life insurance component - One part of the ULIP premium is utilised for providing the life cover that provides the death benefit to your loved family members in the event of your unexpected demise.
- The investment component - The other part of the premium is utilised to invest in the financial securities market. In addition, you can choose to invest in equity, debt, or hybrid funds based on your risk profile. Furthermore, ULIP insurance offers the option to switch between the fund options to help you adapt and grow with the varying market conditions.
Why Invest in A ULIP Policy?
With that brief, let us understand why you should invest in a ULIP Policy.
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![Maximize Returns: ULIPs with Life Cover]( "Maximize Returns: ULIPs with Life Cover")
Get Dual Benefits
ULIP plans offer market-linked returns8 along with the benefit of life cover.
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Avoid the Hassle of Managing Funds
Once you pay your premiums, you can stop worrying about your investment, as our expert fund managers will manage the funds on your behalf.
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![Diverse Fund Choices: ULIPs for Market Growth]( "Diverse Fund Choices: ULIPs for Market Growth")
Multiple Fund Options
With ULIP Plans, you can choose from multiple fund options and switch between the funds to ensure that your investment continues growing in the market.
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![Transparent Charges: Choose ULIP Funds Wisely]( "Transparent Charges: Choose ULIP Funds Wisely")
Benefit from Withdrawal Options
Once the lock-in period is through, you can make partial withdrawals on your ULIP policy and fulfil any financial commitments as needed.
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![Liquidity: Partial Withdrawals After Lock-In Period]( "Liquidity: Partial Withdrawals After Lock-In Period")
Save on Tax
The premiums paid for ULIP plans are eligible for Section 80C tax deduction, and the payouts qualify for Section 10(10D) tax exemption, subject to the applicable tax7 laws.
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![Liquidity: Partial Withdrawals After Lock-In Period]( "Liquidity: Partial Withdrawals After Lock-In Period")
Flexibility
ULIP Plans offer adequate flexibility to the policyholder, be it the fund options, fund allocation and policy tenure.
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Key Features of ULIP Plans
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Investment and Life Insurance Under One Plan
ULIP Plans are known for the dual advantage of investment and insurance they offer under a single policy. The life insurance cover will secure your family in your absence, and the investment option will help you create wealth for your future financial goals. -
02
Fund Options Based on Risk Profile
With a ULIP policy, you can choose between equity, hybrid, and debt fund options based on your high-risk, medium-risk, or low-risk profile. For example, young earners can choose a high-risk equity fund, and a person nearing retirement can choose a low-risk conservative debt fund. -
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Switch Between Fund Options
You can keep track of the performance of the ULIP funds based on the market movement and switch between them to enhance the potential gains. -
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Lock-in Period
ULIP Plans have a mandatory lock-in period of 5 years. After the lock-in period, you can make partial withdrawals on your ULIP policy to meet any immediate financial needs.
Key Features of ULIP Plans
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![ULIP Wealth Creation]( "ULIP Wealth Creation")
Investment and Life Insurance Under One Plan
ULIP Plans are known for the dual advantage of investment and insurance they offer under a single policy. The life insurance cover will secure your family in your absence, and the investment option will help you create wealth for your future financial goals.
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![ULIP Education Fund]( "ULIP Education Fund")
Fund Options Based on Risk Profile
With a ULIP policy, you can choose between equity, hybrid, and debt fund options based on your high-risk, medium-risk, or low-risk profile. For example, young earners can choose a high-risk equity fund, and a person nearing retirement can choose a low-risk conservative debt fund.
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![ULIP Health Benefits]( "ULIP Health Benefits")
Switch Between Fund Options
You can keep track of the performance of the ULIP funds based on the market movement and switch between them to enhance the potential gains.
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![ULIP Retirement Plan]( "ULIP Retirement Plan")
Lock-in Period
ULIP Plans have a mandatory lock-in period of 5 years. After the lock-in period, you can make partial withdrawals on your ULIP policy to meet any immediate financial needs.
ULIP Benefits
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![Flexible ULIP Options]( "Flexible ULIP Options")
Get Market-Linked Returns
ULIP Plans offer market-linked returns8, and you can choose from the available funds to grow your wealth.
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![ULIP for Life's Milestones]( "ULIP for Life's Milestones")
Make Regular Investments
You can pay your premiums in easy monthly instalments without having to worry about multiple plans or investments to grow your wealth.
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![ULIP Funds for Child's Future]( "ULIP Funds for Child's Future")
Get Death or Maturity Benefits
In case of the policyholder’s death, the nominees can receive either the sum assured or the fund value, whichever is higher. On the other hand, if the policyholder survives the policy period, he will be entitled to receive the fund value as the maturity benefit.
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![Retirement Security: ULIP Returns for Comfortable Life]( "Retirement Security: ULIP Returns for Comfortable Life")
Benefit from Long-term Investments
ULIPs are market investment instruments with a mandatory lock-in of 5 years, which makes them ideal for achieving long-term financial goals.
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![Fund Switching: Monitor ULIP Performance, Adapt Strategically]( "Fund Switching: Monitor ULIP Performance, Adapt Strategically")
Opt for Partial Withdrawals
After the mandatory lock-in period of 5 years, ULIPs allow partial withdrawals, which can be helpful to fund an emergency.
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![Dual Advantage: ULIPs for Investment and Insurance]( "Dual Advantage: ULIPs for Investment and Insurance")
Include Add-on Riders
ULIP insurance plans also offer optional riders9 that can enhance coverage, such as the critical illness benefit, accidental death benefit, etc. For example, the rider9 for the critical illness benefit provides an additional financial benefit to pay for the policyholder's medical expenses if diagnosed with a critical illness during the policy period.
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![Liquidity: Access Funds After Lock-In Period]( "Liquidity: Access Funds After Lock-In Period")
Benefit From Tax Deduction and Exemption
ULIP premiums and payouts are eligible for tax7 deductions under Section 80C and exemptions under Section 10(10D), subject to the applicable tax laws.
Read more: Most Common FAQs on ULIP Taxation
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How Does A ULIP Policy Work?
One portion of the ULIP Premium is utilised to provide life coverage, and the other portion is utilised to invest in equity, hybrid, or debt funds based on your risk appetite.
In the event of your unexpected demise, your nominee will receive the death benefit or the ULIP fund value, whichever is higher. And if you survive the policy period, you will get the fund value as the maturity benefit. While you decide on the fund option based on your risk profile, you can revise your decision and switch to a different fund option, considering the fluctuating market conditions to grow with the changing market leaders.
Types Of ULIP Plans
ULIP Plans can be categorised based on the funds and the purpose. Here is a detail explaining them in brief.
Based On Fund Options
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01
Equity-Based ULIP Funds
In Equity ULIP funds, the premium is utilised to purchase equities of multiple companies. These funds are quite closely connected to the market movement and, therefore, carry higher risks. However, as risk is proportional to returns in the financial market, high-risk equity funds can yield higher returns over the long term. -
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Hybrid or Balanced Funds
Hybrid funds or balanced funds are a combination of equity funds and fixed-interest instruments and are suitable for medium-risk investors. Such funds provide adequate exposure to the market, and the debt investments balance the risk in equity. -
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Debt-Based ULIP Funds
Debt funds offer investments in debt instruments such as corporate bonds and government securities. They are low to moderate-risk investments and are considered safe for conservative investors. However, the returns are lower compared to Equity or Balanced fund options. -
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Cash Funds
Also known as money market funds, these funds are considered to be low-risk investments since they invest in bank deposits, cash, and money market instruments
Based On Purpose
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01
ULIP Plans for Wealth Creation
A ULIP can be used to create and grow wealth through market-linked investments over the long term to meet financial goals and significant expenses that regular savings cannot fulfil. -
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ULIP Plans for Children’s Education
The returns from a ULIP can be used to fund your child’s education if you align the investment horizon and the goals. You can also make partial withdrawals from the ULIP after the 5-year lock-in period to make tuition fee payments, plan higher education, etc. -
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ULIP Plans for Health Benefits
ULIP returns can be used as a future emergency fund in case of medical emergencies. Moreover, you can also add an optional health rider9 to your ULIP so that you can be protected against the costs arising from a health emergency. -
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ULIP Plans for Retirement
You can make long-term investments in ULIPs, and the returns received can be used to help you lead a comfortable life during your retirement years and handle financial emergencies when you have no steady source of income.
Our Best-Selling Unit Linked Insurance Plan
ULIP Charges
As ULIP Plans offer life insurance and extended investment benefits, there are a few charges associated with managing the policy that you need to know.
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![Lower Premium Rates for Women - Highlights of Tata AIA Life Insurance Sampoorna Raksha Supreme]( "Lower Premium Rates for Women - Highlights of Tata AIA Life Insurance Sampoorna Raksha Supreme")
Premium Allocation Charge
A percentage of the premium paid on the policy that is charged on the allocation of the premium allocation in different funds under the Unit-Linked Insurance Plan is known as the premium allocation charge.
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![Death Benefit Pay-out - Highlights of Tata AIA Life Insurance Sampoorna Raksha Supreme]( "Death Benefit Pay-out - Highlights of Tata AIA Life Insurance Sampoorna Raksha Supreme")
Fund Management Charges
This charge is a percentage of the value of all the assets and is calculated, mostly on a daily basis, by adjusting the Net Asset Value of the fund. This charge is levied at an annual rate and is divided by 365 and then multiplied by the number of days that have passed since the last unit valuation date.
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![Flexibility to Choose Plan Option - Highlights of Tata AIA Life Insurance Sampoorna Raksha Supreme]( "Flexibility to Choose Plan Option - Highlights of Tata AIA Life Insurance Sampoorna Raksha Supreme")
Policy Administration Charge
This charge is a percentage of the Single / Annualised premium and is calculated monthly at each anniversary by deducting the units starting from the date of the policy inception.
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![Option to get Income Pay-outs - Highlights of Tata AIA Life Insurance Sampoorna Raksha Supreme]( "Option to get Income Pay-outs - Highlights of Tata AIA Life Insurance Sampoorna Raksha Supreme")
Mortality Charges
These are the charges levied for offering the life insurance risk cover to the policyholder during the policy tenure. These charges are guaranteed for the whole policy term and are levied on the age of the policyholder and the risk.
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![Maturity Benefits - Highlights of Tata AIA Life Insurance Sampoorna Raksha Supreme]( "Maturity Benefits - Highlights of Tata AIA Life Insurance Sampoorna Raksha Supreme")
Surrender / Discontinuance Charge
If you choose to surrender your policy, then a charge will be levied on the fund value when the policy is discontinued or when the funds are withdrawn, whichever comes first.
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![Top-Up Sum Assured - Highlights of Tata AIA Life Insurance Sampoorna Raksha Supreme]( "Top-Up Sum Assured - Highlights of Tata AIA Life Insurance Sampoorna Raksha Supreme")
Switch Charges
To ensure that you can manage and customise your own investments, some Tata AIA Life Insurance plans offer unlimited switches for each policy year, which is free of cost.
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![Income Term and Payment Flexibility - Highlights of Tata AIA Life Insurance Sampoorna Raksha Supreme]( "Income Term and Payment Flexibility - Highlights of Tata AIA Life Insurance Sampoorna Raksha Supreme")
Premium Redirection Charges
Some ULIPs allow a maximum of 6 premium redirections or future premium allocations for each policy year, which are all free of charge. Premium redirections after this will attract a fee. Tata AIA Unit Linked Products like Fortune Pro, Fortune Maxima, Wealth Pro, Wealth Maxima, etc., do not have any premium redirection charge.
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Partial Withdrawal
After the mandatory lock-in period of 5 years, you can make partial withdrawals from your ULIP each policy year. The number of free partial withdrawals allowed may vary from product to product.
What is a ULIP Calculator?
A ULIP calculator is an online tool that helps you know the maturity amount or the ULIP returns that you can receive from your Unit-Linked Insurance Plan and determine the applicable premium. Once you provide a few details about your investment and other requirements based on the ULIP features, you can determine the premium and the expected returns.
With the help of the ULIP return calculator, you can make a reasonable comparison and analysis instead of simply going by the ULIP charges, which is only one factor for selecting a ULIP. Read More: What is a ULIP Calculator? - Features & Benefits
Which Investor Class is Most Suited for ULIP Insurance?
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![Active Investors: ULIPs for Hands-On Management]( "Active Investors: ULIPs for Hands-On Management")
Hands-on Investors
Investors who prefer tracking fund movements regularly for increased gains can invest in ULIP. While fund managers manage your funds, it is always based on your preferences. Since ULIP Plans provide the flexibility of switching between funds, hands-on investors can track their market performance and make changes to their funds to get better returns.
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![Diverse Life Stages: ULIPs for All Investors' Needs]( "Diverse Life Stages: ULIPs for All Investors' Needs")
Investors Across Different Life Stages
ULIP Plans are investments that are flexible enough to meet the needs of investors across different age groups. For example, someone who has just started their career and would like to build their wealth can start investing in an equity based ULIP fund option and also avail of a life cover to protect their family. On the other hand, a married individual with a family can choose a balance between risk and return with hybrid funds and the life cover it offers.
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![Diverse Risk Appetites: ULIPs Cater to All Investors]( "Diverse Risk Appetites: ULIPs Cater to All Investors")
People with Varying Risk Appetites
ULIP Plans are known to offer a variety of options in debt, equity, and hybrid funds that cater to investors of all kinds. Aggressive investors and conservative investors can also choose the funds based on their risk appetite and the type of returns they seek. By keeping an eye on the historical Net Asset Value (NAV), an investor can find the fund they are looking for.
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![Medium to Long-Term Investors: ULIPs for Future Goals]( "Medium to Long-Term Investors: ULIPs for Future Goals")
Investors with Medium to Long-Term Investment Horizon
Investors who are looking for long-term investments tend to opt for ULIPs since this investment is better suited for medium to long-term goals. With a mandatory lock-in period of 5 years, ULIPs help investors prepare for their future financial goals that are planned out for 5-10 years or more.
How To Choose the Best ULIP Plan?
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Analysis of Personal Investment Goals
Since each investor has different goals, first, be sure to analyse your personal goals and the time needed to achieve them, and then look for a ULIP investment plan that will help you fulfil these goals within the given investment horizon.
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![Hassle-Free Investing: ULIPs Managed by Insurer]( "Hassle-Free Investing: ULIPs Managed by Insurer")
Decide Insurance Objectives
ULIPs also offer the benefit of a life insurance cover that can be adjusted to meet your needs. If you have more financial liabilities and commitments, the insurance protection should also be more significant so that your family can be protected.
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Evaluate Risk Profile
Not every investor’s risk profile and risk appetite are the same. Therefore, when choosing a fund, risk-averse investors choose plans with low-risk funds, while aggressive investors opt for plans with high-risk funds.
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Compare ULIP Plans
Since every ULIP Plan will be different, you will need to compare the plans to understand which ULIP features, benefits, and funds are better suited for your investment goals.
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Performance of ULIP Funds
ULIPs have funds whose performances are linked to the market. To ensure that you have a good selection of funds in your plan, check the fund performance of our Unit Linked Insurance plans so that you can make the most out of your investment.
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Flexibility
A ULIP plan should offer a flexible tenure as per your investment horizon as well as a good choice of funds so that you are not restricted to limited options that may not be aligned with your investment goals.
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![Independent ULIP Purchase: Informed Decision, Online Payment]( "Independent ULIP Purchase: Informed Decision, Online Payment")
Understand Different Charges Levied
ULIPs carry certain charges, such as fund management expenses, premium allocation charges, etc., that can affect your investment value. Therefore, keep these ULIP charges in mind before you start investing in a ULIP.
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![Hassle-free Online Experience: Quick, Convenient]( "Hassle-free Online Experience: Quick, Convenient")
Solvency Ratio
The insurance company that offers the ULIP should have a good solvency ratio. This term means that the company’s financial health is good, and you will be able to receive your ULIP returns and benefits as and when they are due.
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Claim Settlement Ratio
Your insurer’s claim settlement ratio will also matter while choosing a Unit-Linked Insurance Plan since this figure indicates the number of claims they have settled against the number of claims they receive in a financial year.
Why Choose Tata AIA?
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Range of ULIP plans
Multiple plan options to fulfil your financial goals
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High Rated Funds
Our fund options are rated 4 or 5 stars1 by Morning Star2
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Presence across India
500+ Branches presence across major cities in India.
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Assets Under Management (AUM)
₹81,601.11 Crores Assets Under Management10
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Pay as per convenience
You can select a flexible premium payment term and policy term as per your investment goals.
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Seamless claim settlement
Our individual death claim settlement ratio of 99.01% for FY 2022-2311 shows that we ensure timely claim settlements for your family’s financial security.
Why Buy ULIP Online with Tata AIA?
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![Independent ULIP Purchase: Informed Decision, Online Payment]( "Independent ULIP Purchase: Informed Decision, Online Payment")
Independent Purchase
When you purchase our ULIP plans online, you can make an independent and informed decision based on your research using online reviews, the information on our website, and our ULIP brochures.
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![Hassle-free Online Experience: Quick, Convenient]( "Hassle-free Online Experience: Quick, Convenient")
Check our ULIP Plans and their Performance
You can check and evaluate our top-performing funds online by viewing the NAV. Click here to view the NAV of our ULIP funds.
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![Paperless ULIP Purchase: Easy, Environmentally Friendly]( "Paperless ULIP Purchase: Easy, Environmentally Friendly")
Hassle-free experience
Our convenient and quick online experience ensures that you can refer to all the information on our website, easily get in touch with our customer service team for any queries and make easy online payments through your preferred online payment mode.
How To Buy a ULIP Plan Online?
To buy a ULIP plan online in a hassle-free manner, follow the below steps:
Visit our Tata AIA Life Insurance page.
Below the Plans tab, navigate through the Unit Linked Insurance Plans (ULIPs) to view the different products.
Choose the plan you want to purchase and go through the features and benefits of the policy.
You can also download the product brochure and use our online ULIP calculator to get an estimate of the returns and calculate the premium.
Next, provide the essential details, and choose the policy tenure and the premium payment term of the policy.
Choose the mode of online payment and proceed to make the payment.
How To Maximise ULIP Returns?
Invest early
Start investing in a ULIP scheme early in life. It will help you choose a longer policy period that helps minimise the risk of short-term volatility. Also, you can pay an affordable premium for the required coverage and the expected returns.
Invest wisely
Choose fund options based on your risk profile and plan to invest in it for the long term. Make use of the switching option to maximise the returns based on the prevailing market conditions.
Keep monitoring your portfolio
It is important that you review your ULIP policy in a timely manner to make the necessary revisions and align the investment based on your changing requirements or market conditions.
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Myths About A ULIP Policy
Now that we have seen different aspects of a ULIP policy let us also get into some of the most common myths about a ULIP policy.
Myth 1: ULIP is a high-risk investment
No, ULIP plans offer fund options that suit individuals with different risk profiles. It can be utilised for high-risk, high-return investments or low-risk moderate returns investments.
Myth 2: ULIP Plans are expensive
Although ULIP plans have different charges associated with managing the fund options, they can be managed with an affordable premium by aligning the life cover and the investment goals over the required policy tenure for increased returns.
Myth 3: ULIP Plans are not flexible
ULIP plans are the most flexible investment options that also offer a life cover. You can choose the fund options, investment strategy, life cover, policy term and the premium payment term.
How To Manage Your ULIP Investment?
Managing ULIP funds can be based on your investment preferences. At Tata AIA, you can choose the investment approach based on the following options to manage your ULIP funds.
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Custom preference
It refers to manual selection, which means you can choose the fund options based on their performance and requirements all by yourself!
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Minimise losses
If your objective is to minimise losses, we provide fund options that offer intermediate growth and ensure safety.
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Maximise gains
If you want to maximise the potential gains, we offer fund options for high growth with risk.
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Both equally
We also offer options to balance risk and return for your investment goals.
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![Save Time: Online Term Insurance Purchase]( "Save Time: Online Term Insurance Purchase")
Automatic Asset Allocation
We offer the Enhanced SMART (Systematic Money Allocation & Regular Transfer) for a structured investment into the volatile market based on your choice of an equity-oriented fund and a debt-oriented fund.
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Factors To Consider While Purchasing ULIP Plans
Opt for adequate life cover
While purchasing a ULIP scheme, ensure to choose an adequate life cover that will protect your family's financial future by helping them manage their routine lifestyle, clear off debts, etc.
Determine affordable premiums
Utilise our Tata AIA ULIP calculator to determine the most affordable premium to ensure you stay invested during the long term for increased benefits.
Know the ULIP charges
Make yourself aware of the ULIP charges and their impact on the returns to make wise investment decisions.
Do not hide crucial information
As ULIP plans have a life cover component, be transparent about your medical history for adequate coverage and avoid hassles during claim settlement.
Do not miss paying the premiums
Ensure to make regular investments to avoid missing a premium payment that can affect your life cover and investment objectives. It can lead to a policy lapse that can affect the investment returns.
Terms Related to ULIP Plans
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01
Death Benefit
In ULIP plans, the death benefit is the payout given to the nominee If the life assured passes away during the policy term. -
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Fund Value
Refers to how much your investment is worth at any given point in time. It can be calculated by multiplying the monetary value of each unit or the Net Asset Value (NAV) by the number of units owned. -
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Maturity Benefit/ Survival Benefit
It is the ULIP policy fund value payable as the survival benefit at the end of the policy tenure. -
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Partial Withdrawal
Policyholders can opt for a partial withdrawal, which is a specified portion of the fund value after the lock-in period to fund an emergency. -
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Surrender Value
It is the fund value of your ULIP policy at the time of surrender less the applicable discontinuance charges. -
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Switch Funds
Refers to the option of switching between the fund options based on the market conditions to minimise losses. -
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Top-Up Premium
Refers to the additional premium that you pay to increase your investment. -
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ULIP Charges
Refers to the various ULIP charges applicable to a ULIP policy, such as the Fund Allocation, Mortality, Premium Allocation, Policy Administration charges, etc.
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Frequently Asked Questions (FAQs)
Do ULIP Plans have a lock-in period?
Yes, ULIP Plans have a lock-in period of 5 years, after which partial withdrawals are permissible.
Are ULIP Plans risky investments?
ULIP plans offer varied fund options to suit individual risk profiles. For example, you can choose between high-risk equity funds, low-risk debt funds, and medium-risk hybrid funds. Also, you can choose a different fund option based on the varying market cycles to minimise losses.
What are the eligibility criteria for purchasing a ULIP Policy?
The eligibility criteria vary for the individual options. You can check the respective product page for detailed information on the eligibility criteria.
Does a ULIP have life insurance coverage?
Yes, ULIPs offer a life insurance cover to your family. In case of your untimely demise during the policy term, your nominee will receive either the sum assured or the fund value as a death benefit, whichever is higher.
Can low-risk investors choose a ULIP?
Yes, there are ULIPs available for low-risk investors as well. You can choose the funds that you want to include in your portfolio and the fund allocation for these depending on your risk appetite.
Can I buy a ULIP plan online?
Yes, you can buy a ULIP plan online on the Tata AIA Life Insurance official website. Before you purchase the plan, you can also use the Unit-Linked Insurance Plan calculator to learn about the ULIP charges and the returns you can get from the plan.
Can I invest the entire amount in investment and opt out of life cover?
No, while it is not possible to avoid the life cover in a ULIP, you can choose how much life cover you need and how much you would like to invest in the ULIP funds. Remember that the life cover is an important part of the ULIP.
Do I get to choose the fund options in the ULIP?
Yes, you can choose the fund options and the investment strategy, whether to minimise losses, maximise gains, or the balance between the two, etc., based on your investment goals.
How are the premiums divided in a ULIP?
The premiums paid towards a ULIP policy are divided into the life cover as well as the investment amount of the policy.
What are the premium payment modes under a ULIP plan?
You can choose between the single premium payment, regular premium payment, and limited premium payment options. Furthermore, you can choose to pay the ULIP premium for the regular and the limited premium payment in the monthly, quarterly, semi-annual, and annual payment modes.
What is the limited premium payment option?
In a limited premium payment option, you can pay the premium for a limited period while ensuring the ULIP policy benefits, the life cover, and the investment for the entire policy tenure.
Do ULIPs have a waiver of premium benefit?
Yes, you can add the Tata AIA Life Insurance Waiver of Premium Plus (Linked) Rider (UIN:110A025V02) - Linked, Individual, Health Insurance Rider or Tata AIA Life Insurance Waiver of Premium (Linked) Rider (UIN: 110A026V02) - Linked, Individual, Health Insurance Rider to the ULIP policy to avail of the waiver of premium benefit under specified circumstances.
What are the documents needed to file a claim?
Please click here to know the list of documents needed for the claim intimation and settlement process.
What claims can you file under a ULIP plan?
Your nominee can file a claim for the death benefit under a ULIP. The death benefit can either be paid out in the form of the sum assured or the fund value, whichever is higher.
How do I file a claim on my ULIP?
You can file a claim on ULIP by getting in touch with us:
- Online using our Online Claim Intimation page
- Send us an email: customercare@tataaia.com
- Call our helpline number - 1860-266-9966 (local charges apply)
- Visit us at any Tata AIA Life Insurance Company branch offices
- Write to us at:
- The Claims Department,
- Tata AIA Life Insurance Company Limited
- B- Wing, 9th Floor,
- I-Think Techno Campus,
- Behind TCS, Pokhran Road No.2,
- Close to Eastern Express Highway,
- Thane (West) 400 607.
- IRDA Regn. No. 110
How can a ULIP plan claim be processed if the nominee is outside India?
If the nominee wants to file a claim but is outside of India, they can either upload the attested copies of the relevant documents online or email them to us. If they want to file the claim offline, they can send the documents to their representative in India, who can visit any of our offices and file the claim on their behalf.
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Param Rakshak Pro solution comprises of Tata AIA Smart Sampoorna Raksha Pro, A Unit-linked, Non-participating, Individual Life Insurance Plan (UIN: 110L172V01) and Tata AIA Vitality Protect Plus, A Non-linked, Non-participating, Individual Health Rider (UIN: 110A048V03). Tata AIA Smart Sampoorna Raksha Pro is also available individually for sale.
Param Rakshak solution comprises of Tata AIA Life Insurance Smart Sampoorna Raksha - A Unit-linked, Non-participating, Individual Life Plan for Savings and Protection (UIN:110L156V03) and Tata AIA Vitality Protect Plus - A Non-linked, Non-participating, Individual Health Rider (UIN: 110A048V03). Tata AIA Life Insurance Smart Sampoorna Raksha is also available individually for sale.
The complete name of Tata AIA Smart Sampoorna Raksha is Tata AIA Life Insurance Smart Sampoorna Raksha - Unit-linked, Non-participating, Individual Life Insurance Plan for Savings and Protection (UIN: 110L156V03)
Tata AIA Smart Sampoorna Raksha Pro - Unit Linked Non- Participating, Individual Life Insurance Plan (UIN: 110L172V01)
The complete name of Tata AIA Smart Sampoorna Raksha Plus is Tata AIA Life Insurance Smart Sampoorna Raksha Plus. This solution comprises of Tata AIA Life Insurance Smart Sampoorna Raksha, A Unit-linked, Non-participating, Individual Life Insurance Plan for Savings and Protection (UIN:110L156V03), Tata AIA Vitality Protect Plus, A Non-linked, Non-participating, Individual Health Rider (UIN: 110A048V03 or any other later version). Tata AIA Life Insurance Smart Sampoorna Raksha is also available individually for sale.
The complete name of Tata AIA Fortune Maxima is Tata AIA Life Insurance Fortune Maxima - Non-Participating, Unit Linked Individual, Whole of Life Insurance Savings Plan (UIN: 110L113V07)
The complete name of Tata AIA Fortune Pro is Tata AIA Life Insurance Fortune Pro (UIN: 110L112V06) - Unit Linked Individual Life Insurance Savings Plan.
The complete name of Tata AIA Wealth Maxima is Tata AIA Life Insurance Wealth Maxima - Unit Linked Individual, Whole of Life Insurance Savings Plan (UIN:110L114V04)
The complete name of Tata AIA Wealth Pro is Tata AIA Life Insurance Wealth Pro (UIN: 110L111V04) - Unit Linked, Individual Life Insurance Savings Plan
*5-year computed NAV for Multi Cap Fund as of February 2024. Other funds are also available. Benchmark of this fund is S&P BSE 200.
1All funds open for new business which have completed 5 years since inception are rated 4 or 5 stars by Morningstar on a 5-year basis as of February’2024
2© 2024 Morningstar. All rights reserved. The Morningstar name is a registered trademark of Morningstar, Inc. in India and other jurisdictions. The information contained here: (1) includes the proprietary information of Morningstar, Inc. and its affiliates, including, without limitation, Morningstar India Private Limited (“Morningstar”); (2) may not be copied, redistributed or used, by any means, in whole or in part, without the prior, written consent of Morningstar; (3) is not warranted to be complete, accurate or timely; and (4) may be drawn from data published on various dates and procured from various sources and (5) shall not be construed as an offer to buy or sell any security or other investment vehicle. Neither Morningstar, Inc. nor any of its affiliates (including, without limitation, Morningstar) nor any of their officers, directors, employees, associates, or agents shall be responsible or liable for any trading decisions, damages or other losses resulting directly or indirectly from the information.
3The Insured Amount under Term Booster option (in Vitality Protect Plus rider) is payable on earlier of death or diagnosis of Terminal illness of the Life Insured. Please refer Terms and Conditions for more details.
4Tata AIA Vitality - A Wellness Program that offers you an upfront discount at policy inception. You can also earn premium discount / cover booster (as applicable) for subsequent years on policy anniversary basis your Vitality Status (tracked on Vitality app). Please refer rider brochures for additional details on health and wellness benefits.
Vitality is a trademark licensed to Tata AIA Life by Amplify Health Assets PTE. Limited, a joint venture between Vitality Group International, INC. and AIA Company Limited. The assessment under the wellness program shall not be considered as a medical advice or a substitute to a consultation/treatment by a professional medical practitioner.
5Subject to a maximum policy term of 40 years
6On survival to the end of the policy term, the Total Fund Value including Top-Up Premium Fund Value valued at applicable NAV on the date of Maturity will be paid. Tata AIA Life Insurance Smart Sampoorna Raksha is also available individually for sale. The customer is advised to refer the detailed sales brochure of respective individual product and riders mentioned herein before concluding sale.
7Income Tax benefits would be available as per the prevailing income tax laws, subject to fulfillment of conditions stipulated therein. Income Tax laws are subject to change from time to time. Tata AIA Life Insurance Company Ltd. does not assume responsibility on tax implications mentioned anywhere on this site. Please consult your own tax consultant to know the tax benefits available to you.
8Market-linked returns are subject to market risks and terms & conditions of the product. The assumed rate of returns or illustrated amount may not be guaranteed and depends on market fluctuations.
9Rider is not mandatory and is available for a nominal extra cost. For more details on benefits, premiums, and exclusions under the Rider, please contact Tata AIA Life's Insurance Advisor/ branch.
10As on 31st August 2023, the company has a total Assets Under Management (AUM) of Rs. 81,601.11 Crores.
11Individual Death Claim Settlement Ratio is 99.01% for FY 2022-23 as per the latest annual audited figures.
- For ULIP products
The fund is managed by Tata AIA Life Insurance Company Ltd. For more details on risk factors, terms and conditions please read Sales Brochure carefully before concluding a sale. The precise terms and condition of this plan are specified in the Policy Contract.
Past performance is not indicative of future performance. Returns are calculated on an absolute basis for a period of less than (or equal to) a year, with reinvestment of dividends (if any).
Investments are subject to market risks. The Company does not guarantee any assured returns. The investment income and price may go down as well as up depending on several factors influencing the market.
Please make your own independent decision after consulting your financial or other professional advisor.
Tata AIA Life Insurance Company Limited is only the name of the Insurance Company & the Unit linked insurance product with Tata AIA /Tata AIA Life Insurance as its prefix is only the name of the Unit Linked Life Insurance contract and does not in any way indicate the quality of the contract, its future prospects or returns.
Unit Linked Life Insurance products are different from the traditional insurance products and are subject to the risk factors. Please know the associated risks and the applicable charges, from your Insurance Agent or Intermediary or Policy Document issued by the Insurance Company.
Various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these plans, their future prospects and returns. The underlying Fund's NAV will be affected by interest rates and the performance of the underlying stocks.
The performance of the managed portfolios and funds is not guaranteed, and the value may increase or decrease in accordance with the future experience of the managed portfolios and funds.
Premium paid in the Unit Linked Life Insurance Policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the Insured is responsible for his/her decisions.
Please know the associated risks and the applicable charges, from your insurance agent or the Intermediary or policy document issued by the Insurance Company.
IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER. THE LINKED INSURANCE PRODUCT DO NOT OFFER ANY LIQUIDITY DURING THE FIRST FIVE YEARS OF THE CONTRACT. THE POLICY HOLDER WILL NOT BE ABLE TO SURRENDER/WITHDRAW THE MONIES INVESTED IN LINKED INSURANCE PRODUCTS COMPLETELY OR PARTIALLY TILL THE END OF THE FIFTH YEAR.
This product is underwritten by Tata AIA Life Insurance Company Ltd.
The plan is not a guaranteed issuance plan, and it will be subject to company’s underwriting and acceptance.
Insurance cover is available under this product.
For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale. The precise terms and condition of this plan are specified in the Policy Contract.
Buying a Life Insurance Policy is a long-term commitment. An early termination of the Policy usually involves high costs, and the Surrender Value payable may be less than the all the Premiums Paid.
In case of non-standard lives and on submission of non-standard age proof, extra premiums will be charged as per our underwriting guidelines.
L&C/Advt/2024/Apr/1026
