TATA AIA Term Plan Calculator provides the details of the premium rates of plans offered by TATA AIA Life Insurance Company, and the calculation can be done online for free. Life term insurance policies by the insurance company provide the policyholder and their families with a sense of security and stress-free life. By choosing among the wide range of policies provided by the Tata AIA Life Insurance, the policyholder, can get significant benefits and even plan their future.
Different insurances are on the rise on the market every day. Using Tata AIA Term Plan Calculator may provide the policyholder with detailed information on the premium rates and maturity rates of a particular plan. By using an online calculator, the policyholder can easily compare the Tata AIA Life Term Plan with the others.
On comparing, the customer can quickly come to a conclusion about which of the plans serves their needs the most. This comparison can also help the policyholder to know whether the premium amount suits their budget or not.
The key reasons to use the TATA AIA term insurance plan calculator are as follows:
Your premium is decided on age at which you buy the policy and remains same, throughout your life
Premiums can increase between 4-8% each year after your Birthday
Your policy application could be rejected or premiums increase by 50-100%, if you develop a lifestyle disease
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:
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.
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.
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.
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:
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.
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.
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.
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.
Several basic information is needed while using the Tata AIA Term Plan Calculator online. The information needed is given below:
Tata AIA Insurance provides various coverage schemes under their policies. Some of the significant benefits of buying this insurance are discussed below:
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.
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 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.
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.
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.
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.
The premium rates of TATA AIA term insurance plans are as follows:
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.
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 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.
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.
A1. Yes. If the policyholder's death happens due to suicide, then the beneficiary or the Nominee gets the higher of the death benefit, which is at least 80% of the total premiums paid till the death date, or the surrender value.
A2. The death benefit payable to the Nominee is the sum assured on death along with the additional sum assured under the life stage plus option. Sum Assured on death is the basic sum assured, ten times the annualized premium and 105% of total premiums paid up to the date of death.
A3. There are a few additional benefits to Tata AIA. Life Insurance like ADDL (Accidental Death and Dismemberment Long Scale) and other riders that ensure to pay the Nominee the sum assured amount that is to be paid at the end of the policy.
A4. Yes. The Tata AIA Term Insurance can be calculated online for free on the official website of Tata Life Insurance by providing a few basic details of the customers.
A5. Yes. A policy can be taken online in Tata AIA Insurance. The customer needs to provide a few basic details and upload a few documents if necessary to get their policies approved online.
A6. The highest sum assured by Tata AIA is 1 Cr. and above. It depends on the plan or the policy that the customer chooses to be the best fit for them.
A7. The steps involved in buying plan in TATA AIA insurance are as follows:
Step 1: Choose the basic sum assured that suits the needs.
Step 2: Choose the term of the policy and the premium payment option.
Step 3: The agent or advisor will help the customer to calculate the amount of premium that is to be paid.
A8. Yes. The tax benefits of the policies will be provided by the Tata AIA Insurance under the tax benefits laws. Tata AIA Insurance tries its best to meet the customers' needs through any mode of tax benefit they could afford.
*Standard T&C Apply
*Tax benefits are subject to change as per tax laws.
A9. The eligibility criteria for getting a policy in Tata AIA Insurance is – Minimum age 18 to maximum age 70, Basic sum Assured, Salary per annum, Premium payment modes, Maturity age, and Plan options. (Plan option depends on the mode of payment or the type of plan chosen by the customer).
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