Tata AIA Life Insurance on Thursday launched the Shubh Flexi Pension Plan, a retirement product that combines guaranteed lifetime annuity pay-outs with equity-linked growth, targeting India’s expanding retiree and pre-retiree market.
The plan allows policyholders to allocate a portion of their annuity — between 10 per cent and 40 per cent — to the Nifty 50 index, while the remainder is secured as fixed income. This structure is designed to address inflation risk, a gap the company says traditional debt-oriented pension plans leave unresolved.
Policyholders can opt for immediate or deferred annuity, with the deferment period extending up to 20 years beyond the premium payment term. Entry is available from age 35, and premiums can be paid as a lumpsum or spread over two to 12 years. The plan includes a Return of Purchase Price option, allowing nominees to recover the original corpus on the policyholder’s death.
Kshitij Sharma, Appointed Actuary at Tata AIA Life, said the product responds to longer life expectancies and rising healthcare costs, which have made traditional retirement plans insufficient for many customers.
The plan is registered as a Non-Linked, Non-Participating Annuity Plan (110N209V02). Tata AIA reported a total premium income of ₹31,484 crore for FY25, a 23 per cent increase year-on-year, and ranks among the top three private life insurers by individual weighted new business premium.
Published on March 5, 2026
