Tata
AIA Life launches 'Navkalyan Yojana' Pure Term Micro Insurance solution..!
Tata AIA Life launches Pure Term Micro Insurance
solution
Tata AIA Life Insurance ‘Navkalyan Yojana’ for
economically vulnerable members of the society
Key features..!
· A Pure Term insurance
plan with life coverage throughout the policy term
· Policy and Premium
Paying Term of 5 years fixed
· Annual premium as low
as Rs. *116 for Rs.10,000 Sum Assured for one Year.
· No medical tests
required to buy the product
Tata AIA Life
Insurance Ltd. (Tata AIA Life) today announced the launch of Tata AIA Life
Insurance Navkalyan Yojana (Navkalyan Yojana), a micro life insurance
solution for people below poverty line living either in villages or cities.
Navkalyan Yojana is a
non-participating, regular premium paying, Term Insurance solution with a
minimum entry age of 18 years and maximum entry age up to 60 years. The
solution offers a fixed policy term of five years with basic sum assured from
Rs.10,000 to Rs.50,000. Customers can choose to pay their premiums in annual,
semi-annual, quarterly mode as per their convenience.
The solution will be
distributed through the licensed Micro Insurance agents of Tata AIA Life,
consisting of Non-Government Organizations (NGOs), Micro Finance Institution
(MFIs) and Self-Help Groups.
Tata AIA Life
insurance has a strong network of Micro Finance agents operating in 51
districts in 12 states.
Announcing the launch
of the life insurance solution Ravi Vishwanath, Deputy CEO of Tata
AIA Life, said “The launch of Navkalyan Yojana will further strengthen our
commitment to deepen life insurance penetration in the country and ‘make
Good happen’ to economically vulnerable members of the society. We are
confident that our association with various NGOs, MFIs and Self-Help groups
will enable us to reach out to these members across the length and breadth of
India.”
*This premium is for a healthy person aged 18 years
About Tata AIA Life..!
Tata AIA Life Insurance Company
Limited (Tata AIA Life) is a joint venture company, formed by Tata Sons 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-Asia life insurance group in the world spanning 17 markets in Asia Pacific.
Tata Sons holds a majority stake (74 per cent) in the company and AIA holds 26
per cent through an AIA Group company. Tata AIA Life Insurance Company Limited
was licensed to operate in India on February 12, 2001 and started operations on
April 1, 2001.
About Tata
The Tata group’s mission is to
improve the quality of life of the communities it serves globally, through
long-term stakeholder value creation based on leadership with trust.
Founded by Jamsetji Tata in 1868,
the Tata group is a global enterprise headquartered in India, and comprises
over 100 operating companies, with operations in more than 100 countries across
six continents, exporting products and services to over 150 countries. The
revenue of Tata companies, taken together, was $103.27 billion (around
Rs624,757 crore) in 2013-14, with 67.2 percent of this coming from businesses
outside India. Tata companies employ over 581,470 people worldwide.
Good corporate citizenship is
part of the Tata group’s DNA. Sixty six percent of the equity of Tata Sons, the
promoter holding company, is held by philanthropic trusts, thereby returning
wealth to society. As a result of this unique ownership structure and ethos of
serving the community, the Tata name has been respected for more than 140 years
and is trusted for its adherence to strong values and business ethics.
Each Tata company or enterprise
operates independently and has its own board of directors and shareholders, to
whom it is answerable. There are 32 publicly-listed Tata enterprises and they
have a combined market capitalisation of about $140.98 billion (as on September
11, 2014), and a shareholder base of 3.9 million. Tata companies with
significant scale include Tata Steel, Tata Motors, Tata Consultancy Services,
Tata Power, Tata Chemicals, Tata Global Beverages, Tata Teleservices, Titan,
Tata Communications and Indian Hotels.
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 operations
in 17 markets in Asia-Pacific – wholly-owned branches and subsidiaries in Hong
Kong, Thailand, Singapore, Malaysia, China, Korea, the Philippines, Australia,
Indonesia, Taiwan, Vietnam, New Zealand, Macau, Brunei, a 97 per cent
subsidiary in Sri Lanka, a 26 per cent joint venture in India and a
representative office in Myanmar.
The business that is now AIA was
first established in Shanghai over 90 years ago. It is a market leader in the
Asia-Pacific region (ex-Japan) based on life insurance premiums and holds
leading positions across the majority of its markets. It had total assets of
US$159 billion as of 31 May November 2014.
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-Pacific, AIA serves the holders of more than 28
million individual policies and over 16 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 code
“1299” with American Depositary Receipts (Level 1) traded on the
over-the-counter market (ticker symbol: “AAGIY”).
DISCLAIMER:
Ø Tata AIA Life Insurance Company Limited (IRDA
Regn. No. 110). Registered & Corporate address: 14th Floor,
Tower A, Peninsula Business Park, Senapati Bapat Marg, Lower Parel, Mumbai –
400 013.
Ø Insurance is the subject matter of the solicitation.
Ø For complete details please contact our Insurance advisor or visit
nearest branch office of Tata AIA Life or call 1-860-266-9966 (local charges
would apply) or 1-800-267-9966 (toll free no) or write to us at
customercare@tataaia.com. Visit us at: www.tataaia.com or SMS 'LIFE’ to 58888.
Ø UIN: 110N115V01
Ø Insurance cover is available under this product.
Ø This product is underwritten by Tata AIA Life Insurance Company Limited.
Ø For more details on risk factors, terms and conditions please read sales
brochure carefully before concluding a sale.
Beware of Spurious Phone calls and
Fictitious/Fraudulent offers:
IRDA clarifies to public that
· IRDA or its officials do not involve in activities like sale of any kind
of insurance or financial products nor invest premiums.
· IRDA does not announce any bonus. Public receiving such phone calls are
requested to lodge a police complaint along with details of phone call, number.
For further information contact:
Arunava Khan
Tata AIA Life Insurance Company Ltd
98205 35436
arunava.khan@tataaia.com
Saksham Maheshwari
Adfactors PR Pvt. Ltd.
99309 90927
saksham.maheshwari@adfactorspr.com
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