Tata AIA Life Insurance Company, a joint venture between Tata Sons and AIA Group Ltd, has announced a major expansion to its life insurance solutions. The company launched its Tata AIA Vitality novel wellness programme in India. This is the first time that Tata AIA is introducing the Vitality platform in the Indian market. The platform which has a presence in 40 countries around the globe, claims to have benefitted more than 30 million people in the last 25 years. In India, the programme will be available through Vitality Protect and Vitality Health- the rider packages of the company’s wellness scheme.
Tata AIA’s policyholders will be able to access the programme through an easy-to-use mobile app. Customers may use it for health check-ups and adopt wellness activities. The company claims that the programme is information-oriented, using data-driven analytical tools to assist policyholders in taking necessary steps towards holistic well-being.
Commenting on the launch, Venky Iyer, President & Chief Distribution Officer, Tata AIA Life Insurance, said, Introducing Vitality proposition is a significant step in our transition from a Payor to Partner. We are confident that our initiative will provide the opportunity to our consumers to adopt a healthier lifestyle and give them additional benefits, over and above what they enjoy from our other solutions”
The interface of the mobile app is split into three sections. The first section, termed “Know Your Health”, allows clients to check their current health and wellness status. The “Improve Your Health” section consists of weekly challenges and activities that customers can partake in to enhance their physical, mental, and social well-being. Lastly, the “Get Rewarded” section is designed to let policyholders benefit from discounts on premiums. They can claim these price cuts upon reaching certain wellness milestones.
“We are very proud to be associating with TATA AIA to expand the reach of Vitality program and its ability to make millions of people healthier,” said Barry Swartzberg, CEO of the Vitality Global
To access the Vitality platform, customers will have to purchase riders offered with Tata AIA’s insurance products for term, saving, and retirement. Customers also have the option of paying an additional nominal fee in addition to the primary insurance policy for extra benefits.
While the Vitality Protect Rider will enable users to boost their term insurance coverage (including cover extended to accidental death and accidental total and permanent disability), the Vitality Health rider benefits will provide critical illness insurance and daily cash if a person requires hospitalisation.
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