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About TATA AIA Diamond Savings Plan

  • Experience the best of both worlds with our Non-Linked, Participating Life Insurance Plan—a savings solution that offers guaranteed income to secure your plans and a bonus component that helps you fulfill your and your loved ones’ life goals.
  • Age at Entry: Minimum 0 years to maximum 50 years
  • Age at Maturity: Minimum 18 years to maximum 75 years
  • Premium
  • Minimum: ₹18,000 per annum (in multiples of ₹1,000).
  • Maximum: No limit (subject to underwriting policy).
  • Note: All age references are as per the last birthday.
  • Premium Payment Mode: Annual, Half-yearly, Quarterly, or Monthly
  • Policy Term: Options: 18 years or 25 years
  • Premium Payment Term
  • For Policy Term 18: 8 years
  • For Policy Term 25: 12 years
  • Basic Sum Assured: 11 times the annualized premium

Benefits of TATA AIA Diamond Savings Plan

  • Guaranteed Income
  • Receive a guaranteed income after the premium payment term ends.
  • Get Bonuses
  • Get vested Compound Reversionary Bonus and Terminal Bonus, if any, on maturity or death.
  • Flexible Premium Payment
  • Pay premiums for 8 or 12 years, depending on the policy term of 18 or 25 years respectively.
  • Life Coverage
  • Enjoy life cover protection for the entire policy term.
  • Tax Benefits
  • Avail tax benefits as per Sections 80C and 10(10D) of the Income Tax Act, 1961.
  • Survival Benefit:
  • Policy Term 18 years: 20% of Assured Benefit annually from the end of year 9.
  • Policy Term 25 years: 25% of Assured Benefit annually from the end of year 13.
  • Paid until maturity or death of the insured, whichever is earlier.
  • Assured Benefit calculated as Annualised Premium x 1000/Premium Rate per 1000 Assured Benefit.

Key Features of Tata AIA Life Insurance Diamond Savings Plan

Convenience

Choice of Policy Term

  • Facility to choose your preferred policy and premium payment term  

  • Terms of 18 or 25 years with premium payment terms of 8 and 12 years respectively available.

Survival Benefit

  • Guaranteed Income as a % of Assured Benefits, provided premiums are paid on time.

  • Annual guaranteed income starting from year 9 or 13, based on the policy term.

Maturity Benefit

  • Last Guaranteed Income instalment payable at maturity (20% for 8-year term, 25% for 12-year term).

  • Annual bonus credited from the 1st policy anniversary, based on Assured Benefit.

  • Paid at maturity, based on the company’s performance. Requires at least 5 premiums paid for an 8-year term or 7 premiums for a 12-year term.    

Death Benefit

  • Highest of 11 times Annualised Premium, Sum Assured on Maturity, or absolute amount assured on death.

  • Vested Compound Reversionary Bonus and Terminal Bonus (if any).

  • At least 105% of Total Premiums Paid as of the death date.

  • Payable if death occurs before the next policy anniversary.

*Disclaimer: For Maturity Benefit – Compound Reversionary Bonus and Terminal Bonus will be based on Company’s performance and are not guaranteed.

**Additional Disclaimer: The Policy will terminate on payment of death benefit and no other benefit under the Policy shall be payable. Please refer to the Product Brochure for complete details of the product.

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Commission

The following describes the commission that the Bank received from the marketing of life insurance as a corporate agent:

Category First Year Commission   2nd Year Renewal Commission   Single Premium Commission  
  Min Max Min Max Min Max
Pension 15% 35% 1% 3% 2% 2%
Protection 12% 35% 1% 5% 2% 7.50%
Savings and Investment 15% 35% 1% 7.50% 2% 2%
Health 15% 35% 1% 5.00% - -

Please note commission payable for group products is 5%

Note: The commission is subject to change based on the product within each category, tenure, premium amount, and premium payment period.

Commission payable for Group Products is subject to a maximum payment cap set from time to time by the Insurance Regulatory and Development Authority of India (IRDAI).

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Important Disclaimer

This product is underwritten by Tata AIA Life Insurance Company Limited. For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale. 
 
All Premiums, Charges, 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, charges 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. 
 
Income Tax benefits would be available as per the prevailing income tax laws, subject to fulfillment of conditions stipulated therein. Tata AIA Life Insurance Company Ltd. does not assume responsibility on tax implication mentioned anywhere on this site. Please consult your own tax consultant to know the tax benefits available to you. 
 
#A Guaranteed Income of 20% or 25% of Assured Benefit shall be paid annually commencing from the end of policy year 9 or 13, for premium payment term 8 or 12 respectively and shall be payable till maturity of the Policy or till death, whichever is earlier. Tata AIA Life Insurance Accidental Death and Dismemberment (Long Scale) (ADDL) Rider (UIN: 110B028V01) & Tata AIA Life Insurance Waiver of Premium Plus (WOPP) Rider (UIN:110B029V01) are available under this plan. Riders are not mandatory and are available for a nominal extra cost. For more details on benefits, premiums and exclusions under the Riders, please contact your nearest HDFC Bank branch. 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. This plan is not a guaranteed issuance plan and it will be subject to Company’s underwriting and acceptance. This product will be offered only to Standard lives. Insurance cover is available under this product. 
 
UIN: 110N133V01 | L&C/Advt/2017/ 
 
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. 
 
For any information including cancellation, claims and complaints, please contact our Insurance advisor 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 or SMS 'LIFE’ to 58888. 
 
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

Beware of Spurious Phone calls and Fictitious/Fraudulent offers: IRDAI clarifies to public that:

IRDAI or its officials do not involve in activities like sale of any kind of insurance or financial products nor invest premiums.

IRDAI does not announce any bonus. Public receiving such phone calls are requested to lodge a police complaint along with details of phone call and number.

Most Important Terms & Conditions

*The Most Important Terms and Conditions for each of our banking offerings features all the specific terms and conditions that govern their use. You must go through it thoroughly to fully understand the terms and conditions applicable to any banking product you choose.

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More About Plot Loans for NRIs

The HDFC Bank Tata AIA Life Insurance Diamond Savings Plan offers a combination of savings and protection. Key features include:

  • Guaranteed annual income for financial stability.

  • Life cover for policy term providing financial security to the family.

  • Flexibility in premium payment options.

  • Maturity benefit including total premiums paid plus bonuses.

  • Additional riders for enhanced coverage.

  • Tax benefits under Section 80C and 10(10D) of the Income Tax Act.

  • Loan facility against the policy for emergency needs. 

This plan is designed to meet long-term financial goals while ensuring protection.

The Diamond Savings Plan offers a guaranteed income and bonuses. You can also enjoy life cover benefits, tax savings facilities, and the flexibility to choose your preferred payment terms. This plan is a smart way to ensure financial security for your family and plan for long-term goals.

Applying for the Tata AIA Life Insurance Diamond Savings a straightforward process. Visit the Tata AIA website or contact an advisor. Provide your personal details, select your preferred payment term, and choose any additional riders for extra security. It’s a hassle-free process to start securing your financial future today.

Frequently Asked Questions

The Tata AIA Life Insurance Diamond Savings Plan is a comprehensive insurance product that offers a combination of life insurance coverage and guaranteed savings. This plan is designed to provide financial security and ensure a steady income for policyholders and their families. It includes benefits such as guaranteed returns, flexible premium payment options, tax advantages and various maturity benefits, making it a reliable choice for securing future financial needs.

Eligibility criteria for the TATA AIA Life Diamond Savings Plan typically include:

  • Minimum Age at Entry: 0 years (child) or 30 days, depending on the policy terms.

  • Maximum Age at Entry: Generally, up to 60 years, depending on the specific policy conditions.

  • Maximum Maturity Age: Up to 75 years, based on the policy terms.