Tata AIA Life Guaranteed Return Insurance Plan

life insurance
Protect your loved ones against death, disability and Illness
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Tata AIA Life Guaranteed Return Insurance Plan

Tata AIA Life Guaranteed Return Insurance Plan is a non-linked and non-participating savings cum life insurance plan. It is available in 3 variants namely Endowment Plan, Regular Income Plan, and Whole Life Income Plan to help you achieve your varied financial goals. The plan also provides guaranteed benefits on plan maturity and death of the life assured.

Moreover, the plan offers guaranteed additions throughout the policy term under the endowment plan variant to maximise your corpus. It also allows you to choose to cover your spouse under the same plan under the whole life income plan variant. You can further enhance the coverage of the plan with the help of 2 optional riders.

Best Features of Tata AIA Life Guaranteed Return Insurance Plan

The Tata AIA Life Guaranteed Return Insurance Plan comes with the below-mentioned key features - 

  • Plan Options- The plan comes with 3 plan options namely Endowment, Regular Income, and Whole Life Income to help you receive the benefits in accordance with your investment objective.
  • Guaranteed Additions-  Guaranteed additions equivalent to 5% of the guaranteed maturity benefit are added each year to the savings corpus under the endowment option.
  • Joint Life Option- The plan provides an option to cover your spouse under the same policy under the whole of life option. 
  • Policy Loan- You can avail a loan of up to 80% of the surrender value of the policy to meet any unplanned financial requirement. 
  • Rider Options- The plan offers 2 rider options namely Accidental Death and Dismemberment Rider and Waiver of Premium Plus (WOPP) Rider.
  • Paid-up Policy- In case you fail to pay the premiums after the payment of at least 2 years’ premiums, the policy will acquire the status of a paid-up policy which will continue with reduced benefits.
  • Policy Revival- A lapsed or paid-up policy can be revived within 5 years from the date of the first unpaid premium. 

Benefits of Tata AIA Life Guaranteed Return Insurance Plan

 

The Tata AIA Life Guaranteed Return Insurance Plan offers the following benefits - 

     1.Maturity Benefit

In case of the survival of the life assured till the end of the policy term, a maturity benefit is payable on the basis of the plan option chosen - 

        A.Endowment Option

A lump sum benefit equivalent to the guaranteed maturity benefit plus the accrued guaranteed additions is payable as the maturity benefit.

Guaranteed Maturity Benefit (GMB) = GMB Factor * Total Premiums Payable 

Guaranteed additions are equivalent to 5% of the GMB. No guaranteed additions are accurable for reduced paid-up policies.

        B.Regular Income Option 

Under this variant, the maturity benefit is equivalent to a guaranteed annual income equivalent to the following - 

Premium Payment TermGuaranteed Annual Income 
10 years186.05% of the annualised premium
12 years208.90% of the annualised premium

The guaranteed annual income is payable from the end of the 12th year till the end of the 21st year in case of a policy term of 11 years and from the end of the 14th year till the end of the 25th year in case of a 13-year policy term. 

You can choose to receive the value of the future guaranteed annual income as a lump sum benefit at the time of plan maturity, discounted at 7.05% per annum.

        C.Whole Life Income Option

Under this option, a guaranteed annual income equivalent to a certain percentage of the total premiums paid is payable from the end of the first year following the plan maturity till the death of life assured or the second death in case of joint life cover. 

Guaranteed Annual Income In Case of Single Life = Rate A * (Total Premiums Payable up to INR 1.25 Lakh) + Rate B * (Total Premiums Payable in excess of INR 1.25 Lakh)

Guaranteed Annual Income In Case of Joint Life = Rate A * (Total Premiums Payable up to INR 1.5 Lakh) + Rate B * (Total Premiums Payable in excess of INR 1.5 Lakh)

You can choose to receive the guaranteed annual income in the form of monthly instalments subject to a conversion factor.

     2.Death Benefit

In case of an untimely death of the life assured, the sum assured on death is payable in accordance with the chosen plan option - 

        A.Endowment and Regular Income Options

The death benefit is equivalent to the highest of the following - 

  • 10 times of the annualised premium for age less than 45 years or 7 times of the annualised premium for age 45 years and above 
  • 105% of the total premiums paid as on date of death 
  •  Guaranteed maturity benefit 
  •  Basic sum assured 

Under the endowment option, the accrued guaranteed additions are also payable.

        B.Whole Life Income Option

The death benefit is equivalent to the highest of the following - 

  • 1.25 times of the annualised premium in case of single pay or 7 times of the annualised premium in case of premium paying term of 5/10 years
  • 105% of the total premiums paid till the date of death 
  •  Guaranteed maturity benefit 
  •  Basic sum assured 

Tata AIA Life Guaranteed Return Insurance Plan Eligibility 

Tata AIA Life Guaranteed Return Insurance Plan comes with the following eligibility conditions - 

Eligibility Criteria For Tata AIA Life Guaranteed Return Insurance Plan

Endowment Option

Regular Income Option

Whole Life Income Option

Minimum Age at Entry


 

Policy Term 

Entry Age 

10 years

8 years

12 years

6 years

20 years

0 years


 


 

Policy Term 


 

Entry Age 

11 years

7 years

13 years

5 years


 





 

45 years

Maximum Age at Entry


 

Policy Term


 

Entry Age

10/12 years

60 years

20 years

55 years


 






 

55 years






 

65 years


 

Policy Term and Premium Payment Term (PPT)


 

Policy Term 

PPT


 

10 years

5 years

12 years

6 years

20 years

10 years


 


 

Policy Term


 

PPT


 

11 years

10 years

13 years

12 years


 


 

Policy Term


 

PPT


 

5 years

Single Pay / 5 years

10 years

10 years


 

Premium Payment Frequency

Single, Yearly, Half-yearly, Quarterly, Monthly

Minimum Annual Premium Amount 

INR 24,000

Maximum Annual  Premium Amount

No limit, subject to underwriting

Basic Sum Assured

Basic sum assured will vary with plan option, entry age, and policy term

Tata AIA Life Guaranteed Return Insurance Plan Review

Tata AIA Life Guaranteed Return Insurance Plan is an endowment plan which helps you achieve long term objectives like your child’s education, child marriage, or retirement planning with the help of its guaranteed returns. The plan is available in 3 options namely Endowment, Regular Income, and Whole Life Income. 

The plan provides substantial flexibility by offering a wide array of premium payment term and policy term. The plan takes care of your liquidity requirements by allowing you to avail policy loans of up to 80% of the surrender value of the policy. It is a suitable plan for people looking for a customisable savings plan which offers guaranteed benefits.

Tata AIA Life Guaranteed Return Insurance Plan FAQs
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