Multiple return options: Enjoy flexible benefits with the choice of regular cash bonuses2 (if declared) or a lump sum payout at the end of the policy term.
Long-term life cover: Get life insurance coverage up to 100 years of age, offering protection and peace of mind for the long term.
Flexible premium payment modes: Choose a premium payment frequency that suits your financial planning options, including single, annual, half-yearly, quarterly, or monthly payments.
Plan Eligibility
To invest in the Tata AIA Smart Value Income Plan, individuals must meet the following eligibility criteria set by the insurer.
| Minimum | Maximum | ||||
|---|---|---|---|---|---|
Age at Entry (years)# |
30 days |
Payment Option |
Maximum Entry Age |
||
Limited Pay |
65 |
||||
Regular Pay |
65 |
||||
Single Pay Sum Assured- 1^ |
45 |
||||
Single Pay Sum Assured- 2^ |
65 |
||||
Age at Maturity (years)# |
18 |
Payment Option |
Whole Life |
Other than whole Life |
|
Limited Pay |
100 |
85 |
|||
Regular Pay |
NA |
85 |
|||
Single Pay |
'SA-I'^ |
NA |
65 |
||
'SA-II'^ |
NA |
85 |
|||
Note:
- #All references to age are as on the last birthday.
- ^Death Multiple choice under Single Pay.
Commission Related Information
| LoB | Category | First Year Commission (Min) | First Year Commission (Max) | Renewal Commission (Min) | Renewal Commission (Max) | Single Premium Commission (Min) | Single Premium Commission (Max) |
|---|---|---|---|---|---|---|---|
Pension |
Pension |
5.00% |
70.00% |
0.50% |
3.00% |
1.00% |
2.00% |
Term |
Protection |
20.00% |
90.00% |
2.00% |
2.00% |
1.00% |
2.00% |
Par & Non Par |
Savings & Investment |
20.00% |
70.00% |
0.25% |
7.50% |
1.00% |
2.00% |
Health |
Health |
15.00% |
70.00% |
1.00% |
1.00% |
2.00% |
2.00% |
ULIP |
ULIP |
5.00% |
10.00% |
0.50% |
1.00% |
1.00% |
1.00% |
ILP |
- |
15.00% |
65.00% |
0.50% |
1.00% |
2.00% |
2.00% |
Note: The commission varies depending upon the product in each category, tenure, amount of premium and premium paying term.
Disclaimer
The complete name of Tata AIA Smart Value Income Plan is Tata AIA Life Insurance AIA Smart Value Income Plan - Individual, Non-Linked, Participating Life Insurance Savings Plan
- A monthly mortality charge will be levied. Please refer to the complete sales brochure for details.
- ²Cash bonuses (if declared) may be opted to be paid out at the end of the chosen pay-out frequency or as premiums offset. Alternatively, the cash bonus (if declared) can be chosen to be accumulated and paid out on maturity, death or surrender. Please refer to the brochure for additional details.
- ³Only available with cash bonus option.
- ⁴Tax benefits of up to ₹46,800 u/s 80C is calculated at the highest tax slab rate of 31.20% (including cess excluding surcharge) on life insurance premium paid of ₹1,50,000 as per the old tax regime. Tax benefits under the policy are subject to conditions laid under Section 80C, 80D, 10(10D), 115BAC and other applicable provisions of the Income Tax Act, 1961. Goods and Service Tax and cess, if any, will be charged extra as per prevailing rates. Tax-free income is subject to conditions specified under Section 10(10D) and other applicable provisions of the Income Tax Act, 1961. Tax laws are subject to amendments made thereto from time to time. Please consult your tax advisor for details before acting on the above.
- ⁵Income 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 for tax implications mentioned anywhere in this document. Please consult your own tax consultant to know the tax benefits available to you.
- ⁶Rider is not mandatory and is available for a nominal extra cost. For more details on benefits, premiums, and exclusions under the Rider, please contact Tata AIA Life's Insurance Advisor/branch.
- Tata AIA Life Insurance Non-Linked Comprehensive Protection Rider - A Non-Linked, Non-Participating Individual Health Rider, Tata AIA Life Insurance Non-Linked Comprehensive Health Rider - A Non-Linked, Non-Participating Individual Health Rider are available under this plan.
- ⁷The remaining amount you are eligible for will be determined based on the amount of the unpaid debt that needs to be recovered when it is terminated.
- This product is underwritten by Tata AIA Life Insurance Company Ltd. Insurance cover is available under this product. This plan is not a guaranteed issuance plan, and it will be subject to the Company’s underwriting and acceptance.
- No Goods and Service Tax shall be applicable on Individual life insurance products as per prevailing laws. Tax laws are subject to amendments from time to time. If any imposition (tax or otherwise) is levied by any statutory or administrative body under the Policy, Tata AIA Life Insurance Company Limited reserves the right to claim the same from the Policyholder.
- Risk cover commences along with policy commencement for all lives, including minor lives. 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 all the Premiums Paid. In case of non-standard lives and on submission of non-standard age proof, extra premiums will be charged as per our underwriting guidelines. All premiums and interest payable under the policy are exclusive of applicable taxes, duties, surcharge, cesses, or levies which will be entirely borne/paid by the Policyholder, in addition to the payment of such premium or interest. Tata AIA Life shall have the right to claim, deduct, adjust, and recover the amount of any applicable tax or imposition, levied by any statutory or administrative body, from the benefits payable under the Policy.
- The risk factors of the bonuses projected under the product are not guaranteed.
- Past performance does not construe any indication of future bonuses, and
- These products are subject to the overall performance of the insurer in terms of investments, management of expenses, mortality and lapses.
- For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale. For more details on risk factors, terms and conditions please visit us at: www.tataaia.com.
- L&C/Advt/2026/Feb/1144
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 Life's nearest branch office or call 1-860-266-9966 (local charges apply) or write to customercare@tataaia.com. Visit us at: www.tataaia.com
Frequently Asked Questions
Yes, the plan allows optional riders⁶ to enhance coverage based on your specific protection needs.
Yes, it can support retirement goals by offering steady income and life cover up to 100 years of age.
This plan can be suitable for individuals seeking life cover with regular income or long-term savings for future financial goals.
Yes, tax⁵ benefits may be available under Sections 80C and 10(10D) of the Income Tax Act, as per prevailing laws.
- Under the Life Protect Fetaure, Life Cover continues if premium payment needs to be postponed on event of loss of income / unemployment
- This feature can be exercised by the Policyholder during the revival period
- It is available for Reduced Paid-Up policies
- On opting, full Sum Assured on Death gets restored
At the end of the Policy Term, provided all due premiums have been paid and the policy is in-force, the Maturity Benefit will be:
- Sum Assured on Maturity (Guaranteed) + Last Cash Bonus (if declared) or Balance in Sub-wallet, if any + Terminal Bonus (if declared)
The policy shall terminate on payment of the Maturity Benefit and no further benefits will be payable
Sum Assured on Maturity = Maturity Benefit Multiple (MBM) × Total Premiums Payable
- Cash Bonus paid in Bank Account – Cash Bonus (if declared) credited directly in bank account of the customer. Bonus Can be withdrawn anytime and anywhere.
- Cash Bonus paid in Sub-Wallet – Cash Bonus (if declared) paid in Sub-Wallet powered by Tata AIA. Bonus can be withdrawn anytime and anywhere partially or in full. Accumulated bonus will earn Loyalty additions on daily basis.
Premium Offset – Cash Bonus (if declared) can be used to offset the due premiums throughout the Premium Payment Term. Frequency of PPT and Bonus Payout should be same.
E.g. If PPT frequency is Quarterly, then bonus payout frequency should also be Quarterly. Only then the bonus received will be offset by the premium to be paid.
- Cash Bonus = Due Premium Payable: Entire Premium offset
- Cash Bonus > Premium Payable: Excess Cash Bonus ‘Paid-in Cash’ to the policyholder
- Cash Bonus < Premium Payable: Policyholder pays the Balance Premium
(Change of Cash Utilisation mode can be done at Policy Anniversary)
Yes
On death of the Life Insured for an in-force policy (all due premiums have been paid) during the policy term, the Death Benefit will be:
- Basic Sum Assured on Death (Guaranteed) plus
- Balance in Sub-wallet, if any plus
- Interim Bonus (if any) plus
- Terminal Bonus on Death (if declared)
The policy shall terminate on payment of the Death Benefit and no further benefits will be payable
The Death Benefit shall be minimum 105% of Total Premiums paid (excluding modal loadings)
1. Flexibility to choose Premium Payment Term
Whole Life: Limited Pay (5 Y to 12 Y)
Non-Whole Life: Limited Pay – 5 Y to 12 Y / Regular Pay – Same as Policy Term / Single Pay
2. Flexibility to choose Policy Term
Whole Life: 100 – Entry Age
Non-Whole Life: Limited Pay – 20 Y to 50 Y / Regular Pay – 10 Y to 30 Y / Single Pay – 10 Y to 50 Y
3. Change of Premium Payment Frequency during the Policy Term
4. Change of Cash Bonus Pay-out Frequency can be done at Policy Anniversary
5. Change of Cash Utilisation mode can be done at Policy Anniversary
- Whole Life – Plan will continue till 100 years of age with bonus payment and life cover.
- Non-Whole Life – Plan will continue till the chosen policy term with bonus payment and life cover.
Cash Bonus in SVIP, if any shall be a percentage of Annual Premium.
Cash Bonus Rate (if declared) will depend on Entry age, PPT, and Premium Amount.