Mumbai :
Tata AIA Life Insurance’s Premier SIP continues to gain attention from
investors looking for a balanced approach to wealth creation and protection. As
market volatility rises, ULIPs are becoming a favoured option. Individuals
seeking systematic investment discipline combined with insurance coverage can
explore Tata AIA Premier SIP. Along with protection, it assists goal-oriented
investing with its unique features.
Key Highlights of Tata AIA Premier SIP
●
Zero Allocation Charges:
This plan has zero premium allocation charges, ensuring a larger share of your
premium is invested in your chosen fund option.
●
Premium Waiver Benefit:
Ensures continuation even when premium payment becomes challenging due to
critical circumstances.
●
Integrated Protection & Growth:
Combines life insurance coverage with market-linked investment opportunities,
helping you secure your family’s future while building long-term wealth.
●
Comprehensive Wellness Support:
Extends beyond financial benefits to include healthcare consultations,
preventive checkups, and medical guidance.
The product functions
as a Unit Linked Insurance Plan, where premium contributions are split between
insurance coverage and market-linked fund investments. This structure of the ULIP plan allows policyholders to participate in
equity and debt markets while maintaining life insurance protection. The
insurance component provides financial security for dependants, while the
investment portion works toward long-term wealth goals.
One aspect that
differentiates Tata AIA Premier SIP is its zero allocation charge policy.
Traditional ULIPs often deduct allocation charges from initial premiums, which
can impact early corpus growth. By eliminating this charge, the plan ensures
that larger share of your premium amount is invested immediately in the
selected fund.
The Premium Waiver
Benefit addresses a practical concern for systematic investors. Should the
policyholder face critical illness or disability, future premiums are waived
while the policy continues. This feature helps maintain investment continuity
during difficult times, preventing lapses that could derail long-term financial
planning.
Beyond financial
protection, the plan includes wellness features that policyholders can utilise.
These range from doctor teleconsultations and medical second opinions to
discounted health checkups and pharmacy benefits. The integration of health
services reflects a broader approach to financial planning that considers
overall well-being.
The Smart Lady Benefit
provides female policyholders with an additional 0.5% in fund units on their
first-year premium under specific payment options. This initiative recognises
the importance of encouraging women’s participation in systematic investment
and wealth-building activities.
Flexibility becomes
relevant after the mandatory five-year lock-in period. This investment plan offers three
withdrawal mechanisms to suit different financial situations:
●
Systematic Withdrawal Plan (SWP) enables
regular withdrawals of a predetermined amount or percentage, useful for
creating supplementary income streams.
●
Chosen-rate Withdrawal Plan (CWP) allows
investors to set a desired growth rate, with excess returns available for
withdrawal while maintaining target corpus growth.
●
Index-based Withdrawal Plan (IWP) ties
withdrawals to market performance, releasing funds when the portfolio value
exceeds benchmark indices.
Fund-switching facility
gives policyholders the ability to reallocate between available investment
options based on changing market conditions or revised financial objectives.
This can be done without incurring tax implications or any additional charges,
allowing for dynamic portfolio management.
The plan’s tax
treatment under current regulations includes deductions on premium payments and
tax-free maturity benefits, subject to applicable conditions. This tax
efficiency adds to the product’s appeal for long-term wealth accumulation
strategies.
Eligibility spans
individuals aged 18 to 50 years, with policy terms extending up to 50 years.
This range accommodates various life stages, from young professionals starting
their investment journey to mid-career individuals consolidating their
retirement planning.
Optional riders such as
Terminal Illness with Term Booster, Accidental Death Benefit, and Accidental
Total and Permanent Disability coverage can be added for enhanced protection.
These riders address specific risk scenarios that policyholders may want to
safeguard against.
The product appears to
resonate with working professionals who prefer systematic investment
approaches. The combination of disciplined premium payment, market
participation, and insurance coverage aligns with the planning preferences of
individuals seeking to build financial resilience over extended timeframes. The
structured nature of SIP investments helps maintain consistency regardless of
market timing concerns.
Tata AIA Premier SIP is
a combination of the Tata AIA Smart SIP, a non-participating, unit-linked,
individual life insurance savings plan (UIN: 110L174V02), and Tata AIA Health
Buddy, Non-participating, Non-Linked, Individual Health Product
(UIN:110N183V01). Both Tata AIA Smart SIP and Tata AIA Health Buddy are also
available for sale individually.
About Tata AIA
Life
Tata
AIA Life Insurance Company Limited (Tata AIA) is a joint venture Company formed
by Tata Sons Pvt. Ltd. and AIA Group Ltd. (AIA). Tata AIA Life combines Tata’s
pre-eminent leadership position in India and AIA’s presence as the largest,
independent listed pan-Asian life insurance group in the world, spanning 18
markets in the Asia Pacific region.
Tata
AIA reported a total Premium Income of INR 31,484 crore for FY25, up 23% from
FY24. The Company continues to rank among the Top 3 Private Insurers in
Individual Weighted New Business Premium (IWNBP) with an IWNBP income of INR
8,511 crore.
About
the Tata Group
Founded
by Jamsetji Tata in 1868, the Tata group is a global enterprise, headquartered
in India, comprising 30 companies across ten verticals.
The
group operates in more than 100 countries across six continents, with a mission
‘To improve the quality of life of the communities we serve globally, through
long-term stakeholder value creation based on Leadership with Trust’. In
2023-24, the revenue of Tata companies, taken together, was more than $165
billion. These companies collectively employ over 1 million people.
Each
Tata company or enterprise operates independently under the guidance and
supervision of its own board of directors. There are 26 publicly listed Tata
enterprises with a combined market capitalisation of more than $365 billion as
on March 31, 2024.
About
AIA
AIA
Group Limited and its subsidiaries (collectively “AIA” or the “Group”) comprise
the largest independent publicly listed pan-Asian life insurance group. It has
a presence in 18 markets –wholly-owned branches and subsidiaries in Mainland
China, Hong Kong SAR (3), Thailand, Singapore, Malaysia, Australia, Cambodia,
Indonesia, Myanmar, New Zealand, the Philippines, South Korea, Sri Lanka,
Taiwan (China), Vietnam, Brunei and Macau SAR (4), and a 49 per cent joint
venture in India. In addition, AIA has a 24.99 per cent shareholding in China Post
Life Insurance Co., Ltd.
The
business that is now AIA was first established in Shanghai more than a century
ago in 1919. It is a market leader in Asia (ex-Japan) based on life insurance
premiums and holds leading positions across the majority of its markets. It had
total assets of US$305 billion as of 31 December 2024.
AIA
meets the long-term savings, and protection needs of individuals by offering a
range of products and services including life insurance, accident and health
insurance and savings plans. The Group also provides employee benefits, credit
life and pension services to corporate clients. Through an extensive network of
agents, partners and employees across Asia, AIA serves the holders of more than
43 million individual policies and 16 million participating members of group
insurance schemes.
AIA
Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong
Limited under the stock codes “1299” for HKD counter and “81299” for RMB
counter with American Depositary Receipts (Level 1) traded on the
over-the-counter market under the ticker symbol “AAGIY”.
For
further inquiries or media details, please contact:
Media
Contact:
Name:
Niladri Bhattacharya
Contact:
niladri.bhattacharya@tataaia.com
