Tata AIA introduces Pro-Fit~A complete health plan to take care of your medical expenses, wellness needs and wealth creation goals~

  • Complete medical cover for surgical, daycare and critical illness treatment-related expenses 
  • The whole-life option offers health coverage until 100 years, including critical illnesses
  • Best-in-class, worldwide medical cover – with treatment options in India and 49 countries

National, 21 August, 2023: Tata AIA Life Insurance (Tata AIA Life), one of India’s leading life insurance companies, has launched Tata AIA Pro-Fit, an innovative and personalised health solution that caters to one’s unique needs. This exceptional plan provides comprehensive coverage for one’s medical expenses and health & wellness benefits and presents an opportunity for wealth creation, which doubles up as a health emergency fund.

As per the 2021 Indian Economic Survey, 65% of medical expenses are paid as Out-Of-Pocket (OOP) fees. In several cases, people dipped into their long-term savings during health emergencies as they found their basic health cover policy insufficient. Tata AIA’s Pro-Fit comes to the rescue with benefits that include:  

  • Cover for more than 130 surgeries, daycare procedures and 57 critical illness
  • Avail cashless claim services at network hospitals in India
  • Reimbursement for diagnostic tests up to Rs. 25,000
  • Cover for medical expenses related to treatments done in India and 49 countries. 
  • The Overseas Treatment Booster pays additional benefits up to Rs. 10,00,000 for Critical Illness treatment abroad (can be used for travel, accommodation, companion costs, etc.)
  • Tax-free redemptions made for treatment-related expenses 
  • Unique benefits to encourage women and the younger population to start investing towards their health. 
  • ‘Pride’ discount for transgender people  
  • Health & wellness benefits with the world-renowned programs – Vitality & Medix
  • Photocopies of medical reports are accepted; no need for original papers

Announcing the launch of the new solution, Samit Upadhyay, President & Chief Financial Officer of Tata AIA Life Insurance, said, Critical illness can happen at any age and these often-extortionate living and medical costs. Even if treated entirely, many such diseases can recur. Further, the post-diagnosis and care payments cause a significant financial drain. The fact that 65% of all health spending in India is out-of-pocket expenses points to the significant gap in the nature and extent of health coverage in India. Tata AIA Pro-Fit Health plan is a plan that is designed to accompany your health journey and provide you coverage for up to your chosen term or even the whole of your life. The plan covers you from early detection to prevention and treatment to recovery, using value-added services such as of Medix and Vitality – a unique behavioural change programme that actively supports and rewards your healthy choices.”

When a registered medical practitioner recommends, health-related withdrawals from the plan will be tax-free (Income Tax benefits would be available as per the prevailing income tax laws). This would include expenses related to Complementary and Alternative Medicines such as Ayurveda, homoeopathy, panchakarma, nutrition etc. The solution even offers coverage for health-related costs in India or abroad. In addition, consumers can benefit from the Vitality wellness program, including rewards for following a wellness regime, free health check-up services etc. Consumers also get access to Medix’s empaneled Doctors and consultants worldwide, thereby obtaining expert advice for treating critical illness with Medical Case Management (PMCM).

Looking at the investment side of the plan, Pro-Fit allows policyholders to grow their investments with market-linked returns offered under ULIP funds. Policyholders receive a lump-sum payout in case of Total and Permanent Disability due to an accident, apart from an in-built death cover that ensures financial protection for the loved ones in the absence of the policyholders. 

Policyholders can enjoy all these benefits until they are 100, ensuring complete peace of mind. Moreover, Smart Lady Discounts provide female policyholders with a 2% discount on first-year rider premiums and 0.5% additional units in the ULIP fund. Consumers purchasing the plan before they turn 30 get an extra 2% discount on their premiums. A unique 2% ‘Pride’ discount is also available to transgender consumers for the first year.

About Tata AIA Life

Tata AIA Life Insurance Company Limited (Tata AIA Life) 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 world’s largest, independent listed pan-Asian life insurance group, spanning 18 markets in the Asia Pacific region.

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 per cent of the equity share capital of Tata Sons is held by philanthropic trusts, which support education, health, livelihood generation and art and culture. In 2021-22, the revenue of Tata Companies, taken together, was $128 billion (INR 9.6 trillion). These companies collectively employ over 935,000 people.

Each Tata company or enterprise operates independently under the guidance and supervision of its board of directors. There are 29 publicly listed Tata enterprises with a combined market capitalisation of $311 billion (INR 23.6 trillion) as on March 31, 2022. Companies include Tata Consultancy Services, Tata Motors Tata Steel, Tata Chemicals, Tata Consumer Products, Titan, Tata Capital, Tata Power, Indian Hotels, Tata Communications, Tata Digital, and Tata Electronics.

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 per cent joint venture in India. In addition, AIA has a 24.99 per cent 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 most markets. It had total assets of US$303 billion as of 31 December 2022.

AIA meets individuals’ long-term savings and protection needs by offering various products and services, including life insurance, accident and health insurance and savings plans. The Group also provides corporate clients employee benefits, credit life and pension services. Through an extensive network of agents, partners and employees across Asia, AIA serves the holders of more than 41 million individual policies and over 17 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” for the HKD counter and “81299” for the RMB counter with American Depositary Receipts (Level 1) traded on the over-the-counter market under the ticker symbol “AAGIY”.


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