Tata AIA Life Insurance Wealth Pro Plan

The key features of the Tata AIA Wealth Pro:

The basic sum assured

All amount mentioned are excluding taxes.

1. With this plan you get regular loyalty additions to help increase your investments.
2. Having the ability to choose from up to25 investment fund options to increase and enhance your investments.
3. Get a top-up facility and make an increase to your financial portfolio.
4. With this plan you can add a rider from a choice of 3 different investment funds.
5. Enjoy Tax benefits under section 80C and 10(10D) of the Income Tax Act 1961.
6. Get the flexibility with your premium payments, choose to pay your premiums in one shot or for a limited time span.
7. Enhanced Systematic Money Allocation or Regular Transfer investment portfolio strategy, choose between them.
8. A grace period of 30 day will be provided to make regular premium payments, For policies on monthly mode the grace period would be 15 days.
9. A 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 if the policy is purchased online.

Are you wondering what are the benefits of the Tata AIA Wealth Pro plan?

1. You can avail tax benefits under section 80C and 10(10D) of the Income Tax Act 1961 with this plan.
2. With this plan you can earn additions of loyalty to your investment, 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.
3. 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
4. In case of the unfortunate demise of the policyholder during the term of the plan, and the death benefit availability with this plan, the nominee or the legal heir will get the benefits. This highest benefit will be the distributed as mentioned below:
   1. Basic sum assured - any partial withdrawals from a single or regular premium fund value. OR
   2. The regular/single premium fund value of the policy. OR
   3. 10 times the annual premium in both cases of limited premium payment term/regular payment term. OR
   4. 105% of the total premiums paid regular/single. In addition to this payment the highest of the below will be paid.
   5. 105% of the top-up premiums paid. OR
   6. The top-up premium fund value of the policy. OR
   7. The approved top-up sum assured.

Documents Required for Tata AIA Wealth Pro 

Given below is the list of documents required to purchase the Tata AIA Wealth Pro insurance plan: 

Aadhaar card 

PAN card 

Bank statement for the last 6 months 

Salary slip 

Income Tax receipt 

How does the Tata AIA Wealth Pro work ?

Let's take an example of Ms. Shilpa, a healthy female aged at 35 years, Shilpa pays a fund premium of Rs. 5, 00, 000 per annum and makes the payments on an annual mode. At the time of inception of the policy she decide a fund allocation of 50% in a large capital equity fund and 50% in a whole life mid cap equity fund.

The plan will also give you non-guaranteed benefits as well, these are at the discretion of the company.

Add extra coverage to your policy with the below riders:

When you choose to add extra coverage and are paying in a regular or limited pay mode you can opt for any of the below mentioned riders:

1. Tata AIA Life Insurance Waiver of Premium (Linked) Rider - This particular rider will waive the remaining future premiums of the basic policy if the policyholder is totally and permanently disabled.
2. Tata AIA Life Insurance Waiver of Premium Plus (Linked) Rider - With this rider, the policyholder a waiver of all future premiums and in the case of death or a permanent disability before maturity age or end of the policy term 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) - With this rider the policyholder is ensured of the protection of his/her family if and when an unfortunate event occurs. In the case of disability or death in an unfortunate event the nominee or legal heir will receive the amount of the rider sum assured in case of an accidental death, and in case of disabilities.

If you are choosing to add extra coverage and are paying in a single pay then you can opt for the Tata AIA Life Insurance Accidental Death and Dismemberment (Long Scale) (ADDL) sage.