How URJA is Helping SME Entrepreneurs & Why it is the Need of the Hour?

2022-11-04 URJA TATA AIA's

Small and Medium Enterprises, widely known as SMEs, play a key role in any country's economic growth. Aside from generating more job opportunities even in the remotest corners, it also adds to economic growth.

Despite this fact, SME entrepreneurs have to face prodigious challenges, the top three of them being bureaucratic problem, access to credit, and employee retention. Thanks to the relaxation in current rules and regulations, India is now on the right path. In fact, the country's ranking has also improved on the World Bank's Ease of Doing Business Index.

While one challenge is being resolved gradually but effectively, the other two challenges are still impeding the growth of these SMEs. Lack of capital due to inadequate credit leads to poor production quality and failure in employee retention. According to the ACCA report of 2021, 50.7 million SMEs have no access to the available credit, which makes for 80% of MSMEs in India.

This takes us to another top challenge the SMEs face, that is employee retention. With less or no funds to run the business and their dependence on the monthly revenue, employee retention becomes a cumbersome process as the latter starts exploring the job market in pursuit of a better package.

Since SMEs runs on their monthly profits, even a single discrepancy can lead to an extremely challenging situation which can further effectuate not meeting next month's goals and even non-payment of salaries. That is when Tata AIA's URJA plan comes into the picture. A one-of-its-kind insurance app launched for Tata AIA's SME business customers! URJA is your Life Insurance partner in your business growth!

We, at Tata AIA, understand that your employees are your biggest assets, no matter what the size of your company is. And that is why we offer life cover for your employees even if it is just for a single employee. A loan against this policy helps you turn your business dreams and plans into reality without stressing over whopping installments. Yes! URJA interest rates are low, keeping in mind the SME sector and what challenges they go through.

Why do You Need URJA for Your Business?

  • Digital working capital solutions in 24 hours
  • Provides life cover for your employees, even if you have a single employee
  • Zero paperwork on your existing policy

Highlights of the URJA Plan

  • Low-interest loan* @ 7% fixed P.A. offered digitally in just 24 hours#
  • The policy can be bought online with digital servicing
  • Avail life cover for as less as 1 employee
  • Keep all the policy details at your fingertips

URJA offers all this and much more for your business to thrive and for your employees to feel secure. To take your business to new heights, choose URJA. Touch base with one of our representatives to know more about the many benefits of the plan!

Disclaimer
Insurance cover is available under the product. The product is underwritten by Tata AIA Life Insurance Company Ltd. The plan is not a guaranteed issuance plan and it will be subject to Company's underwriting and acceptance. For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale.
*Loan is available against in force savings policies only. Loan can be availed as per policy terms and conditions of your savings policies only. For more details on risk factors and terms and conditions of your policy please read your policy document carefully.
#24 Hour processing is applicable for Tata AIA Life Insurance working days (Monday to Friday) excluding Bank holidays. Not applicable to policyholders with account in a rural or non-scheduled bank.
^This is subject to change every 6 months. Request you to check the rate before applying for loan.
Tata AIA Life Insurance Company Limited (IRDAI Regn. No.110 - CIN: U66010MH2000PLC128403). Registered & Corporate Office: 14th Floor, Tower A, Peninsula Business Park, Senapati Bapat Marg, Lower Parel, Mumbai - 400013. Trade logo displayed above belongs to Tata Sons Ltd and AIA Group Ltd. and is used by Tata AIA Life Insurance Company Ltd under a license. For any information including cancellation, claims and complaints, please contact our Insurance Advisor / Intermediary or visit Tata AIA Life's nearest branch office or call 1-860-266-9966 (local charges apply) or write to us at customercare@tataaia.com. Visit us at: www.tataaia.com. L&C/Advt/2022/Nov/2897

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