Tata AIA Life Insurance Diamond Savings Plan

1. What is the income term offered by Tata AIA Life Insurance Diamond Savings Plan?

Under the Diamond Savings Plan from Tata AIA Life Insurance, you have the flexibility to choose from the following income terms, depending on the policy term and the premium payment term.

• For a 15-year policy with a 5-year premium payment term, the income term is 10 years
• For a 20-year policy with a 5-year premium payment term, the income term is 15 years
• For a 15-year policy with a 6-year premium payment term, the income term is 9 years
• For an 18-year policy with an 8-year premium payment term, the income term is 10 years
• For a 25-year policy with a 12-year premium payment term, the income term is 13 years
  
  

2. What is the premium payment frequency for this life insurance investment plan?

You can choose from the following premium payment frequencies

• Annual
• Half-yearly
• Quarterly
• Monthly
  
  

3. What documents would I require to buy an insurance policy?

To buy an insurance policy, you need to submit the following mandatory documents.

Proof of address:

The following documents are accepted as valid proof of your address.

• Bank Statement (or passbook) with the latest entries for six months
• Aadhaar card
• Passport
• Voter's ID
• Driving license
• Electricity/telephone bill
• Ration card

Proof of identity:

Some of the documents that are accepted as valid proof of your identity include:

• PAN card
• Aadhaar card
• Passport
• Driving license

Documents showing proof of income:

These documents, which are required only for a few plans, include:

• Salary slips of the previous 3 months
• Income tax returns/Employer certificate
• Bank statement of the previous 6 months
• Latest Form 16
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4. What are riders? Which rider can I purchase with Tata AIA Diamond Savings Plan?

Riders are additional provisions that you can add on to your basic insurance policy, in order to enhance the protection and the benefits you receive.

With Tata AIA Life Insurance Diamond Savings Plan, you can purchase the following riders.

• Tata AIA Vitality Protect - A Non-Linked, Non- Participating Individual Health rider (UIN:110B046V02)
• Tata AIA Vitality Health - A Non-Linked, Non- Participating Individual Health rider (UIN:110B045V02)
• Tata AIA Life Insurance Non-Linked Comprehensive Protection Rider - A Non-Linked, Non- Participating Individual Health Rider (UIN: 110B033V02)

Tata AIA Life Insurance Non-Linked Comprehensive Health Rider - A Non-Linked, Non- Participating Individual Health Rider (UIN: 110B031V02)

• This is not a contract of insurance. The precise terms and conditions of this plan are specified in the Policy contract
• Buying a Life Insurance Policy is a long-term commitment. An early termination of the Policy usually involves high costs and the Surrender Value payable may be less than the all the Premiums Paid.
• This product brochure should be read along with Sales Illustration.
• This product is underwritten by Tata AIA Life Insurance Company Ltd. This plan is not a guaranteed issuance plan and it will be subject to Company’s underwriting and acceptance.
• Insurance cover is available under this product.
• This product will be offered only to Standard lives.
• Income Tax benefits would be available as per the prevailing income tax laws, subject to fulfillment of conditions stipulated therein. Income Tax laws are subject to change from time to time. Tata AIA Life Insurance Company Ltd. does not assume responsibility on tax implication mentioned anywhere in this document. Please consult your own tax consultant to know the tax benefits available to you.
• HDFC Bank Limited (4621612) (IRDAI Registration No: CA0010) is the Corporate Agent of Tata AIA Life Insurance Company Limited and does not underwrite the risk or act as an insurer. HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400 013. Participation by the Bank’s clients in the Insurance products is purely on a voluntary basis. The contract of Insurance is between Tata AIA Life and the Insured and not between HDFC Bank and the Insured.
• Tata AIA Life Insurance Company Limited (IRDAI Regn. No.110 • CIN: U66010MH2000PLC128403). Registered & Corporate Office: 14th Floor, Tower A, Peninsula Business Park, Senapati Bapat Marg, Lower Parel, Mumbai - 400013. Trade logo displayed above belongs to Tata Sons Ltd and AIA Group Ltd. and is used by Tata AIA Life Insurance Company Ltd under a license. For any information including cancellation, claims and complaints, please contact our Insurance Advisor / Intermediary or visit Tata AIA Lifes nearest branch office or call 1-860-266-9966 (local charges apply) or write to us at customercare@tataaia.com. Visit us at: www.tataaia.com L&C/Advt/2023/Oct/3405
  
  “As per recent changes in section 10(10D) of Income Tax Act, where the amount of aggregate annual premium payable in the financial year in case of Traditional plans (all non-unit linked plans except Annuity, Pension and Pure Risk Plans) issued on or after 1st April 2023 exceeding INR 5,00,000 the benefits of the policy/policies shall not be eligible for exemption under section 10(10D) except in case of death”. The customer is requested to seek advice of a tax advisor with respect to his/her personal tax liabilities under the Indian Income-tax law."