Tata AIA Term Life Insurance Plans

Why Choose Tata AIA Term Insurance Plans?

• 98.53% Claim Settlement Ratio: The company has a claim settlement ratio of 98.53% in FY 2021-22. This ensures that your loved ones receive the financial support needed in your absence, hassle-free.

• 4 Hours Claim Settlement: With ‘Express Claims’, TATA AIA endeavors to provide claim payment within 4 hours for policies with Death Benefit up to 50 Lacs.

• 40 Critical Illnesses Benefit: Additional Payout on 40 Critical Illnesses including Minor and Major Cancer related, Cardiac related, and other Critical Illnesses. This benefit safeguards your family against financial urgency resulting from these illnesses.

• Whole Life Cover: Ensure financial protection and create a financial cushion for the family even in your absence with a whole life cover plan.

• Accidental Death Benefit: One death every minute in India happens due to a road accident. This optional benefit provides your loved one’s additional pay-out in case of death due to an accident.

++Tax benefit is subject to changes in tax laws.

++All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

Benefits of Tata AIA Term Insurance Plans

• Low Cost: The greatest benefit of a term plan is that allows you to buy a substantial amount of life insurance at a very low cost. This makes it possible for people of all financial levels to have term insurance.

• Fixed premium: No matter what length you take the plan for, your premium will be fixed throughout, so you don’t have to appear for medical tests, etc during the policy tenure and have the premium increased.

• Special offers: Discounted and low premium rates are available for smokers and non-smokers.

• Tax Benefits: Get tax benefits u/s 80C and 10(10D) of Income Tax Act, 1961.

• Flexible payment mode: You can pay the premium annually, half-yearly, quarterly, and monthly.

• Return of premium:  You can offer to pay higher premiums and opt for a return of premium plan, where at the end of the policy period, the premium would be returned to you if you survive.

• Easily available Online:  Most term insurance plans are available online and so buying them becomes extremely simple. All you have to do is log in, select the plan you want, and buy it instantly.

Tata AIA Life Term Insurance Plans

With four different term life insurance available both online and offline, TATA AIA life term insurance is something new to the customers in all their plans. A complete feature analysis of the plans sold by the company is done below.

Let’s discuss Tata AIA term insurance plans in detail:

1. Tata AIA Sampoorna Raksha Supreme

   Tata AIA Sampoorna Raksha Supreme is a comprehensive and wide-ranging term insurance plan that provides you with flexible plan options to protect the financial future of your family.

   Key Features of Tata AIA Sampoorna Raksha Supreme

   • You can easily choose from the following death benefit options: Life, Life Plus, Life Income, and Credit Protect Option.

   • The plan offers the option for whole-life coverage i.e., till 100 years

   • Flexibility to get death payout as a one-time (lump sum) or as income for up to 60 months or as a combination of both.

   • Option to enhance coverage at major milestones with an option of Life Stage

   • You have the option to increase the life cover using top-ups

   • Option to receive income payouts at 55, 60,65 years of age

   • Flexibility to select premium paying term and policy tenure

   • The plan offers lower and discounted rates for females

   • Increase your protection with optional riders

   • Get tax benefits as per the prevailing laws of the Income Tax Act, of 1961.

2. Tata AIA Life Insurance MahaRaksha Supreme

   A pure-term insurance plan provides you with a number of choices to fulfill the financial protection needs of your family. It also offers you an option to enhance the sum assured at important milestones of life.

   Key features of Tata AIA Maha Raksha Supreme

   • It is the simplest and pure protection cover.

   • You can select an option to increase your protection coverage in the long run. Using Life Stage Plus Option, you can enhance cover at future important stages of life without undergoing any fresh medical underwriting.

   • Option to pay as regular or single premiums to suit your needs

   • Discounted premium rates for non-smokers and females

   • The inbuilt payout accelerator benefit offers 50 percent of life cover in case of a diagnosis of a terminal illness.

   • Tax benefits are applicable u/s 80C and 10(10D) of the ITA, 1961.

3. Tata AIA Saral Jeevan Bima

   Saral Jeevan Bima is an affordable and simple term insurance plan that offers financial protection to you and your family.

   Key features of Tata AIA Saral Jeevan Bima

   • Flexibility to select policy tenure and premium-paying term

   • Lower premium rates for non-smokers and females

   • Increase your protection using option term riders

   • Tax benefits as per the applicable laws of the Income Tax Act, of 1961.

4. Tata AIA Smart Sampoorna Raksha

   This plan is a combination of savings and protection that helps fulfill your long-term objectives such as retirement planning, wealth creation, and children’s education along with protecting your life goal with a sufficient sum assured.

   Key Features of Tata AIA Smart Sampoorna Raksha

   • You can select from 11 fund options ranging from equity-oriented to income-focused fund, depending on your risk appetite.

   • Protect your family's financial objectives from death benefits in case of an unforeseen death during the policy tenure

   • Tax benefit applicable as per ITA, 1961

   • Option to pay limited or regular premiums of 5/10/12 years.

5. Tata AIA Insta Protect Solution Plan

   Tata AIA InstaProtect Solutions plan is a complete term insurance plan that offers financial protection to you and your loved ones. This plan combines the long coverage benefits with accidental death, critical illness, total and permanent disability hospitalization expenses, and others.

   Key Features of Tata AIA InstaProtect Solution Plan

   • Comprehensive health and life cover for you and your family. It covers hospitalization, heart conditions, terminal illness, cancer, disability, and critical illness.

   • Flexibility to choose premium paying term and policy term

   • Option of choosing return of premium benefit

   • The smooth easy policy buying process with no medical examinations, claim settlement procedure, and renewal with easy online transaction modes.

   • Tax benefit applicable as per ITA, 1961

How to Buy Tata AIA Term Insurance Plans From Policybazaar?

Step 1: Visit the Tata AIA Term Insurance Plan page of Policybazaar

Step 2: Fill out the form by providing the requested details such as Name, age, and contact details.

Step 3: Then, click on ‘View Free Quotes’

Step 4: After this, answer some questions related to your job, annual income, education, and smoking habits

Step 5: As soon as you submit all these details, a list of available term plans will be displayed

Step 6: Choose a Tata AIA Term insurance Plan as per your convenience and then choose life cover, premium payment term, and cover till age to get detailed information

Step 7: Click on ‘Proceed’ and you will be redirected to the payment section

Step 8: Pay the premium amount.

Claim Settlement Process of Tata AIA Term Insurance Plans

Tata AIA Term insurance company offers you an easy way to file a claim online without going through any documentation process. The online claim procedure is simple and consists of 3 steps:

• Claim intimation

• Submission of claim documents

• Claim settlement decision and payment

Documents Required for Filing a Claim

• Original Policy documents

• Original certificate of death

• Rider policy documents

• Copy of FIR, post-mortem report, police panchnama, etc. duly attested by the police personnel.

• Certificate provided by the last attending medical practitioner

• ID Proof, claimant’s proof, and supporting documents showing the claimant’s right.

Exclusions of Tata AIA Term Insurance Plans

Suicide: If the life assured commits suicide within a year (12 months) from the date of starting of the policy or from the date of the policy revival, then the nominee is not eligible to get the sum assured amount and will only be liable to receive the total premium amount paid, provided the policy is active.

Tata AIA Term Insurance Plans - FAQ