VMPL
Mumbai (Maharashtra) [India], May 27: Life insurance plans are one of the most important financial instruments to secure the financial future of your loved ones. While safeguarding your family remains the core purpose, consumers are looking beyond just security. They want solutions that also serve their investment objective.
Recognizing this demand for all-in-one insurance solutions, Tata AIA Life Insurance, one of India's leading life insurers, has introduced Tata AIA Param Raksha Life Pro+, a plan that brings together protection and wealth creation under a single umbrella.
It comes with key features like:
* Market-linked Wealth Creation: Invest in a wide range of Tata AIA Funds (Equity, Debt, Balanced) to grow your wealth based on your risk appetite. Tata AIA funds are rated 4 or 5 by Morningstar
* Unlimited Free Fund Switching: Flexibility to switch between funds at no additional cost, anytime during the policy term.
* Comprehensive Life Cover: Get financial protection to secure your family with a high sum assured in case of unfortunate demise.
* Terminal Illness Cover: Advance payout of 10% of sum assured on diagnosis of a terminal illness with term booster
* Accidental Disability Cover: Comprehensive cover in case of disability due to an accident
* Accidental Death Cover: Comprehensive cover in case of death due to an accident
Which consumer needs does it cater to?
* Consumers want more than just a payout, they want plans that help meet long-term goals like children's education, retirement planning, or wealth accumulation.
* They want to ensure that their family stays protected even in their absence without any impact on their standard of living
* They look for investment plans that can grow their wealth
* Provide tax benefits on premiums paid as well as returns
This evolving consumer mindset has driven interest in life insurance products that integrate protection with investment benefits. By blending robust protection with investment flexibility, these plans have become a key component of modern financial planning.
Over the years, the role of insurance has expanded from merely providing a lump-sum payout to offering comprehensive financial solutions. As a result, traditional insurance products are now often complemented with market-linked options.
In today's insurance landscape, value-driven and flexible products are essential. Consumers demand more control, reasonable returns, and meaningful benefits. This is where comprehensive plans truly stand out - especially those that offer returns, life cover, and additional coverage for health and accident coverage.
With features like Terminal illness cover, Return of premiums, Accidental Disability Cover,
Accidental Death Cover and unlimited free fund switching, Tata AIA Life Pro + plan ensures both security and flexibility. They can also benefit from tax savings under Sections 80C and 10(10D).
For those seeking a product that evolves with their needs while securing their family's future, the Tata AIA Param Raksha Life Pro+ offers the right blend of protection, investment, and peace of mind. To learn more or speak with an advisor, visit www.tataaia.com.
About Tata AIA Life
Tata AIA Life Insurance Company Limited (Tata AIA) is a joint venture Company formed by Tata Sons Pvt. Ltd. and AIA Group Ltd. (AIA). Tata AIA Life combines Tata's pre-eminent leadership position in India and AIA's presence as the largest, independent listed pan-Asian life insurance group in the world, spanning 18 markets in the Asia Pacific region. Tata AIA reported a total Premium Income of INR 25,692 crore for FY24, up 25% from FY23. The Company continues to rank among the Top 3 Private Insurers in Individual Weighted New Business Premium (IWNBP) with an IWNBP income of INR 7,413 crore. The Individual Death Claims Settlement ratio improved to 99.13%. The Company also achieved industry-leading Persistency performance (based on premiums), ranking #1 in four out of five cohorts.
About the Tata Group
Founded by Jamsetji Tata in 1868, the Tata group is a global enterprise, headquartered in India, comprising 30 companies across ten verticals. The group operates in more than 100 countries across six continents, with a mission 'To improve the quality of life of the communities we serve globally, through long-term stakeholder value creation based on Leadership with Trust'.
Tata Sons is the principal investment holding company and promoter of Tata companies. Sixty-six percent of the equity share capital of Tata Sons is held by philanthropic trusts, which support education, health, livelihood generation and art and culture.
In 2023-24, the revenue of Tata companies, taken together, was more than $165 billion. These companies collectively employ over 1 million people.
Each Tata company or enterprise operates independently under the guidance and supervision of its own board of directors. There are 26 publicly listed Tata enterprises with a combined market capitalisation of more than $365 billion as on March 31, 2024.
About AIA
AIA Group Limited and its subsidiaries (collectively "AIA" or the "Group") comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets - wholly-owned branches and subsidiaries in Mainland China, Hong Kong SAR (1), Thailand, Singapore, Malaysia, Australia, Cambodia, Indonesia, Myanmar, New Zealand, the Philippines, South Korea, Sri Lanka, Taiwan (China), Vietnam, Brunei and Macau SAR (2), and a 49% joint venture in India. In addition, AIA has a 24.99% shareholding in China Post Life Insurance Co., Ltd.
The business that is now AIA was first established in Shanghai more than a century ago in 1919. It is a market leader in Asia (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$286 billion as of 31 December 2023.
AIA meets the long-term savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia, AIA serves the holders of more than 42 million individual policies and over 18 million participating members of group insurance schemes. AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock codes "1299" for HKD counter and "81299" for RMB counter with American Depositary Receipts (Level 1) traded on the over-the-counter market under the ticker symbol "AAGIY".
For further inquiries or media details, please contact:
Media Contact:
Name: Arunava Khan
Contact: arunava.khan@tataaia.com
(ADVERTORIAL DISCLAIMER: The above press release has been provided by VMPL. ANI will not be responsible in any way for the content of the same)
