The Tata Aia Diamond Savings Plan Review is one of the best insurance products in the Indian market. The plan offers guaranteed income, waiver of premiums for linked riders, and a massive discount on premiums. There is a 94% claim settlement ratio which is quite impressive.
Guaranteed income
The Tata AIA Diamond Savings Plan is a limited-pay life insurance plan. It offers guaranteed income, terminal bonuses,es and survival benefits. This is a great option to fund your retirement or help your child’s education. You can even avail of a loan against this policy.
The Tata AIA Life Insurance Company offers a large discount on the assured benefit. In addition, you can also choose from a variety of premium payment options. If you wish to increase your coverage, you can add additional riders such as Accidental Death & Dismemberment Rider and Waiver of Premium Plus Rider.
The Tata AIA Life policy is guaranteed and tax-free. A life insurance policy protects your family and your financial future. Generally, it pays a fixed guaranteed benefit each month.
Waiver of premium (linked) rider
Waiver of Premium (Linked) Rider is a type of insurance rider available only with Tata AIA Life Insurance ULIP plans. It is an optional rider that helps in ensuring the continuation of your insurance plan in case of disability or total permanent disability. This rider waives future premiums from the date of the accident.
The premiums of this rider can be refunded by the insurer if the policy is terminated early. However, you must ensure that your premiums do not exceed 10% of the sum assured. If you opt for this rider, you can enjoy a tax advantage, as it can be claimed as a deduction under Section 80C.
The benefits of this rider include protection against various risks. It also covers hospitalization expenses. In the event of death, it provides money to cover the medical costs of your dependents.
Large-scale discount
Tata AIA offers a large-scale discount on their Diamond Savings Plan. They have also come up with an online buying process that is easy and convenient to use. The company has also incorporated a smartphone app to make it easier to shop around for a plan that best suits your needs. It has all of the features you would expect in a modern-day life insurance product.
Among the many benefits that the Diamond Savings Plan has to offer, one of the more intriguing ones is its ability to offer you a loan against your policy. You can borrow up to 80% of your surrender value. In addition, you can add optional riders such as the Accidental Death and Dismemberment Rider. The best part is that you can start your new policy as early as the day you choose to get started.
Online payment for premiums
Tata AIA Diamond Savings Plan is a life insurance plan which can provide a variety of benefits. It is designed to address various life stages and goals. The main objective of the policy is to ensure the protection of your loved ones while also providing you with a lifetime of guaranteed income.
The Tata AIA Diamond Savings Plan is an individual non-linked life insurance plan. It offers several benefits, including an option to make a loan against the policy. This loan can be up to 80% of the surrender value. When you take a loan, the interest rate will be plus two percent per annum.
You will receive a guaranteed income for up to 25 years. In addition, you will receive a vested compounded reversionary bonus.
The claim settlement ratio reached 94%
One of the newest entries in the plethora of insurers to hit the market is Tata AIA Life insurance. The company is based in Hong Kong and has been in business for more than five years, but its products are also sold across eleven markets, primarily through Citibank. Its offerings include group insurance, microinsurance, rider options, endowment benefits, and more.
Tata AIA Life has been on the ball with regard to service and product offerings. This is a good thing, providing a sense of security to policyholders and their families. For instance, the company recently tied the best customer satisfaction score in India and is rated among the top life insurance providers in Asia and the world. Also, the company offers several premium payment term options, ranging from 20 to 45 years.
