• Tata AIA Life Insurance Wealth Maxima Plan

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    Plan Benefits

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    Policy Coverage

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    When you want the best in life, the finances need to be able to give you the best. And good financial planning can help you with that, Tata AIA Life Insurance Wealth Maxima is a non-participating unit linked whole life insurance plan that maximizes your financial security in the long term. For you childrens education, your laid back retirement plan, an investment under this plan will help you achieve those long term goals.

    The key features of Tata AIA Life Insurance Wealth Maxima

    • The basic sum assured
      • For single pay - 1.25 times of the single pay.
      • For limited pay - the higher of 10 * annual premiums at the beginning of the policy or 0.5 * policy term * annual premiums.
    • Get protection for life with paying premiums in one shot or over a short period of time.
    • Choose your investment plan, with the flexibility of having 6 different fund options.
    • Get a top-up facility further increase your financial portfolio.
    • Want to take a loan, get to make partial withdrawals after the policy has been in effect for 5 years to meet an financial expenses.
    • Enjoy Tax benefits under section 80C and 10(10D) of the Income Tax Act 1961.
    • Get a boost to your investments, with regular loyalty additions credited to your policy.
    • A grace period of 30 day will be provided to make regular premium payments, policies on monthly mode the grace period would be 15 days.
    • Customize your plan, by adding a choice of 3 additional unit deducting riders.
    • Enhanced Systematic Money Allocation or Regular Transfer investment portfolio strategy, choose between them.
    • Free look period of 15 days is provided to you, you can decide if you are satisfied with the terms and conditions of the policy. A 30 day free look period will be offered is the policy source is through distance marketing.
    • There are many optional riders you add to your policy, these can be added to the policy at the start or inception of the policy. The riders are applicable for the payment term you have chosen. If you have chosen the limited pay option, the riders available are
      • Tata AIA Life Insurance Waiver of Premium (Linked) Rider
      • Tata AIA Life Insurance Waiver of Premium Plus (Linked) Rider
      • Tata AIA Life Insurance Accidental Death and Dismemberment (Long Scale) (ADDL) Linked Rider

    If you have chosen the single pay option, then the riders applicable is Tata AIA Life Insurance Accidental Death and Dismemberment (Long Scale) (ADDL) Linked Rider.

    The eligibility criteria for Tata AIA Life Insurance Wealth Maxima plan:

    Particulars

    Details

    Minimum issue age

    30 days

    Maximum issue age

    60 years

    Maturity age

    100 years

    The premium paying terms, methods and modes are in the table mentioned below:

    Particulars

    Details

    Policy Term

    100 years minus the issue age

    example 100 years - issue age (30) = policy term of 70 years

    Premium paying modes

    Premium can be paid annually, half yearly, quarterly, monthly, or in a lump sum single payment

    Paying term for premiums

    Single pay

    Limited pay - 7, 8, 9, 10, 15 and 20 years

    Minimum premium

    Single pay - Rs. 5, 00, 000

    Limited pay - Rs. 2, 50, 000 per annum

    Maximum premium

    No limit

    Benefits/Advantages of the Tata AIA Life Insurance Wealth Maxima Plan

    1. Maturity Benefit - At the end of the policy term if the policyholder has survived, he/she will receive the total fund value which will be valued at an applicable net asset value (NAV) on the date the policy matures.
    2. Death Benefit - In case of the unfortunate demise of the policyholder during the term of the policy, the nominee or the legal heir will get the benefits. This benefit will be the highest of the basic sum assured minus any partial withdrawals from a single or regular premium fund value.OR will get a total maturity benefit plus loyalty additions exclusive of taxes.
    3. Loyalty additions - As a reward to your loyalty, at a rate of 0.20% of the unit in each fund under a regular premium account loyalty additions will be credited.

    How does the Tata AIA Life Insurance Wealth Maxima work ?

    Let’s take an example of Mr. Jain, a healthy male aged at 35 years, paying a fund premium of Rs. 5, 00, 000 per annum. He makes these payment in an annual mode. He’s chosen a fund allocation of 50% in a large capital equity fund and 50% in a whole life mid cap equity fund.

    Age

    Annual Premium

    Policy Term

    Premium paying term

    Premium Multiple Chosen

    Basic sum assured

    35

    5,00,000

    65

    Single

    1.25

    6,25,000

    35

    5,00,000

    65

    7

    17.5

    8,750,000

    35

    5,00,000

    65

    10

    17.5

    8,750,000

    35

    5,00,000

    65

    15

    17.5

    8,750,000

    The non guaranteed benefits are at the discretion of the company.

    Riders

    The riders available with the Tata AIA Life Insurance Wealth Maxima

    1. Tata AIA Life Insurance Waiver of Premium (Linked) Rider - This rider waives all future premiums of the basic policy when the policyholder is totally and permanently disabled.
    2. Tata AIA Life Insurance Waiver of Premium Plus (Linked) Rider - With this rider, the policyholder will have future premiums waived in the case of death or a permanent disability before the policyholder is 65 years of age or if premium payment term is at the end whichever is earlier. The rider is allowed for a entry age of 18 years till 57 years with a maximum of 65 years (maturity age).
    3. Tata AIA Life Insurance Accidental Death and Dismemberment (Long Scale) (ADDL) Linked Rider - By adding this rider the policyholder ensures the protection of his/her family. In the case of any unfortunate incident occurring leading to disability or even death. The company will be paying the policyholder’s nominee an amount equal to the rider sum assured in case of an accidental death, and in case of disabilities or burns due to an accident, The nominee will be paid a percentage of the rider sum assured.

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    This Insurance Company has not partnered with BankBazaar.com. For more details, please visit its website/branch office. The trademarks, logos and other subject matters of intellectual property belong to their respective owners.

    GST of 18% is applicable on life insurance effective from the 1st of July, 2017

    Tata AIA Life Insurance Wealth Maxima Plan Reviews

  • Page 1 of 7 1 2 3 4 5
    • Tata AIA Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I hold a term insurance with TATA AIA from last 3 years and it is one of the good policy to use. I am happy with the coverage and returns of this insurance policy. I pay a premium of Rs 30000 on yearly basis and the payment options are convenient for me.
      Was this review helpful? 0
      , lucknow
      Reviewed on May 23, 2018
    • Tata AIA Life Insurance
      "Better policy to use"
      0.5 5.0/5 "Blown Away!"
      I use the life insurance policy from TATA AIA LIFE INSURANCE around a year ago. The customer support service is good with the TATA AIA. This policy has the tenure of 5years . I pay the premium amount of Rs,52,400 to this policy every year once. The plan benefits and the policy coverage is good with the TATA AIA LIFE INSURANCE company.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 19, 2018
    • Tata AIA Life Insurance
      "Quick follow up"
      0.5 3.0/5 "Satisfactory"
      I applied for the term insurance through bank bazaar just to experience and they were not disappointed. Though my application process was struck in between I immediately got a call from the customer care executive for the follow up snd assist. Though I did not have plans to buy the insurance I had to . But the customer care executive was kind enough to explain in detail and bare with me. Thank you.
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 04, 2018
    • Tata AIA Life Insurance
      "Good"
      0.5 4.0/5 "Great!"
      I am using the TATA AIA service for last 7 years. I have taken a pension plan from TATA AIA LIFE INSURANCE. I never faced any problems till now so there is no need to interact the customer support. The policy coverage and plan benefits are average.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Mar 07, 2018
    • Tata AIA Life Insurance
      "Good Investment"
      0.5 5.0/5 "Blown Away!"
      I took this Insurance some 2 years back and the experience with it has been pretty good. I have been paying Rs.25000 as premium in this Insurance. I would be getting a Money back for every 2 years. The overall experience with it has been pretty good.
      Was this review helpful? 0
      , mumbai
      Reviewed on Feb 16, 2018
    • Tata AIA Life Insurance
      "Reliable one"
      0.5 4.0/5 "Great!"
      I am having the life insurance policy with the TATA AIA life insurance company, They are very straight forward and the service is good. Whatever they have committed was very reasonable one with the TATA AIA life insurance company.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 06, 2018
    • Tata AIA Life Insurance
      "Good"
      0.5 5.0/5 "Blown Away!"
      It is a retirement policy and taken before 7 years. I have chosen TATA AIA because the benefits are good. The customer service and response was up to the mark. After maturity period, I will get good return and which is guaranteed. The tenure period is 35 years.
      Was this review helpful? 0
      , thane
      Reviewed on Jan 25, 2018
    • Tata AIA Life Insurance
      "Great service provider"
      0.5 4.0/5 "Great!"
      I am having the life insurance policy with the TATA AIA life insurance company . I had been with them from the last ten years of time. So far, I have not faced any issues with them till now. Customer service and the response is better one with them till now.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 19, 2018
    • Tata AIA Life Insurance
      "Good Insurance"
      0.5 4.0/5 "Great!"
      The experience with Tata AIA has been pretty good. I have been paying Rs.33000 yearly and the total plan is for 24 years. I only need to make payment for first 12 years, from the 13th year they will be paying me Rs.50000 on yearly basis. This is one of the better Insurance available.
      Was this review helpful? 0
      , bangalore
      Reviewed on Dec 20, 2017
    • Tata AIA Life Insurance
      "Good One"
      0.5 5.0/5 "Blown Away!"
      it has been a good experience over all with TATA for my life insurance . The Tenure for the life insurance i took is of 15 years i have to pay premium . Yearly i pay for the emi of the insurance . I got a Full cover Only for me .the customer service was good from the TATA side for the insurance .
      Was this review helpful? 0
      , nagpur
      Reviewed on Dec 20, 2017
    • Tata AIA Life Insurance
      "Good "
      0.5 5.0/5 "Blown Away!"
      I do have life insurance policy with the TATA AIA life insurance company and am holding it from the last three years of time. I would like to say that the plan benefits are good one with the TATA AIA life insurance company.
      Was this review helpful? 0
      , chennai
      Reviewed on Dec 09, 2017
    • Tata AIA Life Insurance
      "Good policy"
      0.5 4.0/5 "Great!"
      I have taken life insurance with Tata Aia before two years. This policy has been taken through online without any inconvenience. I pay premium of 3200 rupees every month through net banking. The customer support was fine. The payment method is convenient.
      Was this review helpful? 0
      , bangalore
      Reviewed on Dec 04, 2017
    • Tata AIA Life Insurance
      "Average service"
      0.5 2.0/5 "Expected more"
      I have life insurance service with tata aig and I have taken one policy for the term period of 15 years and the payments where generally through online for every quarter they never update me regarding new schemes and offers also there is no proper response from tata aig it was a average service from tata aig life insurance service.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 23, 2017
    • Tata AIA Life Insurance
      "Best"
      0.5 4.5/5 "Excellent!"
      I am having the life insurance policy with the Tata AIA life insurance company and the customer service is good too. Customer service is really good one with the TATA AIA life insurance company, also the services are better one.
      Was this review helpful? 0
      , noida
      Reviewed on Nov 23, 2017
    • Tata AIA Life Insurance
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have taken a term plan from TATA AIA life insurance. There are other insurance providers where for term plans they would not get the benefits after the matured term. But this plan I would get back my money after the tenure of 30 years. The premium is to be paid only for five years.
      Was this review helpful? 0
      , lucknow
      Reviewed on Nov 09, 2017
    • Tata AIA Life Insurance
      "Good customer services"
      0.5 4.0/5 "Great!"
      I bought TATA AiA policy in 2008 & It was 6 year term for premium payment. I closed this policy in 2015 but I got good amount & customer service was very good. It was Ulip plan. I can recommed others for TATA AIA company products. Their employees are very good.
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 02, 2017
    • Tata AIA Life Insurance
      "Good for savings"
      0.5 4.0/5 "Great!"
      Nearly I pay Rs.1000 as premium on monthly basis, it has the tenure of 15 years. They provides useful benefits, they will provide the sum assured value of Rs.2 lakhs with accidental coverage, accidental death, life cover. I used to make the payment through ECS.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 26, 2017
    • Tata AIA Life Insurance
      "Good policy to use"
      0.5 3.0/5 "Satisfactory"
      It is good to have a life insurance policy with TATA AIA for past 5years. The customer support is good with this policy. I pay the premium of Rs.18,000 every year. The plan benefits and the coverage is good with this policy. I pay the premium through cash.
      Was this review helpful? 0
      , dharwad
      Reviewed on Oct 26, 2017
    • Tata AIA Life Insurance
      "Good protection for Life"
      0.5 5.0/5 "Blown Away!"
      Last three years back, I have Life insurance with TATA AIA. I am making the premium of Rs. 78,000 on annual basis for the tenure of ten years. After the tenure period I will get getting an amount of Rs.1.30 crores with accidental coverage and tax benefits. I normally make online payment to pay my premium its good.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Jul 07, 2017
    • Tata AIA Life Insurance
      "Good for small investment"
      0.5 4.0/5 "Great!"
      I do have Tata AIA life insurance company and the coverage is up to 7 lakh Rupees, also am paying around 5000 Rupees. Response and other things are really good one with them and the regular alerts, payment modes are fine one with he Tata AIA life insurance company.
      Was this review helpful? 0
      , guwahati
      Reviewed on Jun 22, 2017
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