Tata AIA Life launched Smart Pension Secure Plan – CNBC TV18

Tata AIA Life launched Smart Pension Secure Plan – CNBC TV18

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Tata AIA Life Insurance has launched a new Unit-Linked Pension Plan (ULIP) Smart Pension Secure Plan with the objective of addressing the increasing demand for retirement solutions. The scheme is designed to meet individuals seeking flexible, market -related development opportunities for the construction of its retirement corpus.

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Name of the scheme 1-year back Invest now Fund category expense ratio
Axis Nifty 50 Index Fund +32.80% Invest now Equity: Big Cap 0.12%
Axis Nifty 100 Index Fund +38.59% Invest now Equity: Big Cap 0.21%
Axis Nifty Next 50 Index Fund +71.83% Invest now Equity: Big Cap 0.25%
Axis Nifty 500 Index Fund , Invest now Equity: Flexi Cap 0.10%
Axis Nifty Midcap 50 Index Fund +46.03% Invest now Equity: Mid Cap 0.28%

The Smart Pension Secure Plan Tata AIA is associated with Alpha 50 Index Pension Fund, which invests 80-100% of its assets in the equity alliance with the Nifty Alpha 50 index.

The new fund offer (NFO) is priced at 10 per unit and is open to 31 January 2025.

The scheme offers policyholders to allocate their premiums in several funds, which has flexibility to allocate 100% to equity for high possible returns. Some of the major features of the Smart Pension Secure Plan include unlimited fund-switching, tax profit under Section 80CCC and comprehensive coverage options for additional security.

The plan is available in two options:

Smart Pension Safe: Provides market -related returns and death benefits.

Smart Pension Safe Plus: Additional premium discount benefits in case of policy holder’s death.

The main details of the policy include:

  • Entrance age: 35–75 years (vary by payment period).

  • Westing Edge: Starts at 45 years, maximum 85 years for single/limited pay and 75 years for regular salary.

  • Policy Term: From 10 years to maximum westing age. This plan can be purchased through Tata AIA’s online platform and digital partners such as policy market, Tata Nu and PhonePe. These platforms allow users to manage and optimize their plans digitally, without the need for physical documents.

Jilani Basha, President and Chief Distribution Officer of Tata AIA Life Insurance, said that the scheme has been designed for individuals who prefer financial planning flexibility and development.

first published: January 30, 2025 10:31 AM First

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