Tata AIA Term Plan Calculator

The Process to use Tata AIA Term Plan Calculator

The process for using the Tata AIA Term Plan Calculator is very simple and can be done online free of cost. To use the Term Plan Calculator, the individual has to go to the official website of Tata AIA Life Insurance.

The ‘Term Plan Calculator’ tab is available on the homepage of the website. Before using the calculator, the following steps are to be followed:

Enter the Basic Details

The first step to being done before using the calculator is to enter all the essential details that are asked on the web page. There will be simple details like – Name, D.O.B., Gender, Age, E-mail ID, Mobile Number, Address, Salary per Annum, Marital status, Required Coverage amount. After filling in all these tabs, the customer needs to click on the submit button.

Enter the Assured Sum

After getting through the first procedure, the customer gets access to the main tab of the calculating process. The customer needs to enter the assured sum, which covers their future financial needs. The premium payment term can be viewed monthly, half-yearly, or yearly. The customer can choose the term of payment based on their convenience.

Check the Premium Amount and Finalize

Once after getting an assumption of premium that is to be paid for term insurance, the customer can come to a conclusion on taking up the policy. If the premium doesn't fall under the budget of the customer, then they can choose some other insurance plan and check if the premium of that plan suits their needs while coming under their budget.

Before using the term plan calculator, the policyholder needs to choose a plan wisely that suits their benefits.

Key Advantages of Tata AIA Term Plan Calculator

There are many advantages to using Tata AIA Term Plan Calculator. Calculating the premium before finalizing on any insurance helps the customers a lot. Tata AIA Term Plan Calculator can differentiate between various plans and provide the best plan that is suitable for the policyholder. Some of the advantages are given below:

Clarity on any Insurance Plan

Many policyholders have no idea about their insurance plan. Using the term plan calculator can help the policyholder to get a clear idea of the insurance plan and premium rates of particular insurance before choosing to invest in it.

Time and Cost-Efficient

This calculator can be used online for free. Thus, this saves the time that it takes for the customer to wait in line at the office for calculating their premium rates. Since it is free, it saves the money that is spent for travelling purposes.

Prepared Beforehand

Knowing the premium amounts of a policy beforehand saves the customer from uncomfortable situations like delays in the premium payments or if the customer couldn't afford to pay a premium. By knowing the premium rates and the term for their policies, the policyholder can prepare before paying their premiums.

Check Premium for Multiple Policies

The policyholder can check premium for multiple policies in the term Insurance calculator if they are willing to take multiple policies from the insurance company.

Information required while using Tata AIA Term Plan Calculator

Several basic information is needed while using the Tata AIA Term Plan Calculator online. The information needed is given below:

• Personal Information – Full Name, Age, Date of Birth, Gender, Address, E-mail ID, Contact Number, Salary per Annum, Loan Amount, Marital Status, Debts, etc.
• Sum assured amount that is needed for life insurance coverage.
• Health information – Information about any critical illnesses like Cancer and other habits that are harmful to health, like smoking.
• An estimated amount is needed to fulfil the future financial goals and dreams of the customer. Dreams and plans of the policyholder's family etc.

Core Benefits of buying Tata AIA Term Insurance Plan

Tata AIA Insurance provides various coverage schemes under their policies. Some of the significant benefits of buying this insurance are discussed below:

Coverage Policy

Tata AIA Term Insurance has life coverage up to 85 years of age. Some policies of Tata AIA have life coverage up to 100 years of age of the policyholder. This is one of the highlighted benefits of Tata AIA Term insurance, among the other insurances that are available on the market.

Life Stage Milestone Options

The cover on the existing policy can be increased to a higher amount during the policyholder's life milestones like – marriage, the birth of a child, retirement, etc. By increasing the life cover on the already existing policy saves the policyholder from the trouble of getting a new policy.

Discounts on Premium

Discounts are provided for premium rates of the policies with a higher sum assured amount in them. Tata AIA term insurance even provides discounts for women and non-smokers as a token of gratitude from their side.

Riders

Some add-on riders are also available in Tata AIA Term Insurance under the term 'risk-averse. This scheme helps the policyholder at the time of death, accidental deaths, disability, critical illnesses, and terminal illnesses. All of these risk factors have a probability of arising in any policyholder's life at any time. Tata AIA Term Insurance prepares their customers for one such unfortunate time also.

Affordability

Tata AIA has its premium designed according to the convenience of their customers. They consider the policyholder's trouble when it comes to the premium payments. So, they have options like – monthly, thrice a year, twice a year, and only once in a year.

The customer can choose among this option that suits the best for them and comes under their budget line.

Claim Percentage

Tata AIA provides a 99.1% claim percentage for the customer's insurance claims. This is also one of the significant benefits of Tata AIA term insurance. The customers can quickly get their claims online. So, the claim amount can be received as soon as possible, and the customer gets the claim from the comfort of their homes.

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

Tata AIA Term Insurance Premium Rates

The premium rates of TATA AIA term insurance plans are as follows:

Special Premium Rates

A special premium rate is available for people who are trying to follow a healthy lifestyle. The non-smokers get a special premium rate and discounts for their policies. Additional discounts are available for female customers.

Tax Benefits

Income tax laws change from time to time. So, the insurance premium rates and sum assured amount comes under the tax laws. However, Tata AIA Insurance provides a plan with tax benefits according to the customer's needs.  

*Standard T&C Apply

*Tax benefits are subject to change as per tax laws.

Grace Period

Grace Period is provided by Tata AIA on the delay of premium payments by their customers. Fifteen days of grace period for monthly premium payments and 30 days grace period for other options of premium payments.

Free Look Period

Suppose the customer is not satisfied with the terms and conditions of any policy offered by the Tata AIA Insurance. In that case, they can cancel the policy by submitting a written notice to the company that states the reason for the cancellation. They can get a full refund of all premium payments made by them. No more premiums will be collected from the customer after cancellation.

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