The Smart Value Income plan of Tata AIA Life Insurance offers many great features to the customers including regular income.
Tata AIA Life Insurance: Tata AIA Life Insurance, one of India’s leading life insurers has launched Smart Value Income Plan, a non-linked, participating life insurance savings plan. In this plan, many great features have been offered to the customers including regular income. Anyone in the age group of 1 to 65 years can buy this plan. Let us know what is special in this plan.
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Features of the plan
- Cash bonus from first month: Consumers can get the cash bonus from the first month of policy purchase and continue with the bonus. Even if you are unable to pay the premium due to any reason, you will continue to get the cash bonus.
- Premium Offset Feature: A policyholder who has opted for the regular premium payment option can adjust the premium payable against the cash bonus, provided the frequency and timing of bonus payments match the premium payment.
- In-built sub-wallet: It allows the consumers to avail cash bonus and the bonus amount can be withdrawn as per the requirement. The amount of the sub wallet will continue to earn returns in the form of daily loyalty additions, which can also be used to offset future premium payments.
- Life Protect Feature: Tata AIA Smart Value Income Plan also comes with Life Protect feature. Under this, the policyholder will continue to get the benefit of life cover, even if you have not paid the premium due to financial crisis.
- Special benefits for SME owners and women entrepreneursUnder this policy, special benefits have been offered for SME owners and women entrepreneurs. Under the policy, loans to small and medium businesses have been given the additional benefit of preferential rate. Women entrepreneurs will get an additional special discount of 1% on the policy loan interest rate.
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For example let’s take a 35 year old male who does not smoke. Suppose he opts for a premium paying term of 10 years and a policy term of 40 years. In addition to the life cover of Rs 12,00,000 during the policy term, the person will get the following benefits:
(Article: Sunil Dhawan, Source: TATA AIA Life Insurance)
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