Tata AIA Life Insurance Company Limited (Tata AIA Life), a joint venture established by Tata Sons Pvt. ltd. and AIA Group Ltd. (AIA), have launched a “Smart Value Income Plan”, an untied participatory life insurance savings plan where the bonus can be adjusted according to premium payments. This plan includes industry-first features such as the ability to accumulate cash bonuses that will earn rewards in the form of loyalty bonuses in the sub-wallet and favorable interest rates on loans for MSMEs and women entrepreneurs, as well as an additional 1% concession on loan facilities for women entrepreneurs. Individuals between the ages of 1 and 65 can purchase the Smart Value Income Plan, with a maximum maturity age of 100. The policyholder may also receive tax benefits under sections 80 C and 10 (10 D) of the Income Tax Act 1961.