Tata AIA Life Insurance has launched the Smart Pension Secure Plan, a new Unit-Linked Pension Plan (ULIP) aimed at addressing the growing demand for retirement solutions. The plan is designed to cater to individuals looking for flexible, market-linked growth opportunities to build their retirement corpus.

The Smart Pension Secure Plan is linked to the Tata AIA Alpha 50 Index Pension Fund, which invests 80–100% of its assets in equity aligned with the Nifty Alpha 50 Index.

The New Fund Offer (NFO) is priced at ₹10 per unit and is open till January 31, 2025.

The plan provides policyholders the option to allocate their premiums across multiple funds, with the flexibility to allocate 100% to equity for higher potential returns.
Some of the key features of the Smart Pension Secure Plan include unlimited fund-switching at no cost, tax benefits under Section 80CCC, and comprehensive coverage options for added protection.

The plan is available in two options:

Smart Pension Secure: Provides market-linked returns and death benefits.

Smart Pension Secure Plus: Includes additional premium waiver benefits in case of the policyholder’s demise.

Key details of the policy include:

• Entry age: 35–75 years (varies by payment term).
• Vesting age: Starts at 45 years, with a maximum of 85 years for single/limited pay and 75 years for regular pay.
• Policy term: Ranges from 10 years to the maximum vesting age.The plan can be purchased through Tata AIA’s online platform and digital partners such as Policybazaar, Tata Neu, and PhonePe. These platforms allow users to manage and customize their plans digitally, without the need for physical documentation.

Jeelani Basha, President & Chief Distribution Officer, Tata AIA Life Insurance, stated that the plan is designed for individuals prioritising financial planning flexibility and growth.