Tata AIA launches Shubh Flexi Income Plan for smart savings and life cover

The plan caters to a wide range of financial objectives with its three tailored options

Tata AIA Life Insurance (Tata AIA) has launched the Shubh Flexi Income Plan, a life insurance savings solution offering a flexible approach to financial security and wealth creation.

 

The plan is a non-linked, participating life insurance savings plan that allows individuals to personalise their financial strategies. With three tailored options, the plan caters to a wide range of financial objectives:

 

Endowment option: Designed for long-term savings, this option provides a lump sum payout at maturity, making it ideal for major financial milestones such as purchasing a home or funding a child’s education.

 

Early income option: This option delivers yearly cash bonuses starting from the first policy year, ensuring a steady cash flow for those seeking regular income.

 

Deferred income option: Suited for individuals focused on long-term wealth accumulation, this option provides cash bonuses after the premium payment term and allows policyholders to defer payouts for enhanced financial growth.

 

Beyond wealth creation, the Shubh Flexi Income Plan includes essential protective features to offer financial security to policyholders and their families.

 

Waiver of premium option: In case of the policyholder’s demise, all future premiums are waived while the policy benefits continue.

 

Cover continuance benefit: This ensures that the policy remains active even after the policyholder’s passing, with all bonuses and benefits still payable to beneficiaries.

 

‘Sub wallet’ feature: It allows policyholders to accumulate bonuses in a wallet, which earns interest and can be used for future premium payments.

 

Smart lady benefit: It offers special discounts for female policyholders.

 

Family discount: This extends additional discounts to family members and nominees of existing policyholders.

 

“For the financial year 2024, the company declared Rs 1,465 crore bonus, 24 per cent higher than the previous year’s Rs 1,183 crore. This consistent performance ensures that policyholders benefit from enhanced wealth growth over time,” according to the press release.

 

“The Shubh Flexi Income Plan is designed to empower individuals to take control of their financial future, offering guaranteed benefits and the agility to adapt to life’s changing needs. Our vision is to ensure that every policyholder feels confident in their journey towards financial independence, knowing they have a partner who understands their aspirations and supports them at every stage,” said Sujeet Kothare, Executive Vice President, Head – Products, Business Mid Office and Digital Marketing, Tata AIA Life. 

 

The plan provides a structured approach to financial growth and security:

 

For young professionals: Early investment opportunities help build wealth and secure long-term financial goals.

 

For parents and families: Tailored solutions assist in planning for major milestones, including children's education and marriage.

 

For retirement planners: A reliable income stream ensures financial stability and a comfortable post-retirement life.