iRaksha Supreme: Online Term Insurance Plan offered by TATA AIA Life

Your family deserves the assurance that the standard of life which you have provided them will always be available at all times. However, we cannot foresee eventualities beforehand. Hence, we need to make plans in advance to ensure that our family members do not have to compromise on the standards in our absence. They should not be burdened with debt and financial obligations in case of an untoward incident which may happen to the breadwinner.

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Note: Know more about what is term insurance first before reading this article.

On 25^th January 2013, Tata AIA Life Insurance launched “iRaksha Supreme”, an online term insurance plan. This plan offers high life coverage at cheap rates which secures the family against premature death of the policy holder. This non-participating term plan is available online.

Choices of Premium Payment

The attractive and affordable policy can be bought from any location at any time with the click of a mouse. In a few simple steps you can opt for the life cover when required. It offers the choice of premium payment which will suit your convenience. You can opt for:

Regular Pay: You can choose to pay premium till the end of the policy term annually or semi-anually
Limited Pay: You can choose to pay premium for a limited period of 5 to 10 years and get coverage for a longer time period.
Single Pay: You can pay the premium once in lump sum for the entire coverage.

Term Plans

₹1
Crore

Life Cover

@ Starting from ₹ 13/day⁺

₹50
LAKH

Life Cover

@ Starting from ₹ 8/day⁺

₹75
LAKH

Life Cover

@ Starting from ₹ 12/day⁺

Preferential Rates Offered Under the Plan

Preferential rates are offered to policy holders who follow a healthy lifestyle and abstain from smoking. Additionally, women can avail the benefits of the policy at lower rates. For customers who opt for high level of protection, Rs. 75 lakhs or above, rate benefits are offered. It is important to note that if you invest in iRaksha Supreme, you will be eligible for tax benefits under section 80 C of the Income tax Act, 1961.

The age at entry for TATA AIA iRaksha Supreme Plan is 18 years and the maximum age is 65 years. The maximum age at maturity is 75 years. Let’s take a look at the features and term insurance benefits of iRaksha Supreme:

Entry Age	18 years to 65 years
Term of the plan	Minimum:10 years, Maximum:35 years
Provision for renewability	The lapsed policy can be renewed within 2 years from the date of the lapse
Sum assured	Minimum: Rs.50 lakhs, Maximum: No Limit
Premium	Minimum annual premium: Rs.17,854 Maximum annual premium: Calculated on total sum assured Premium differs between men and women Premium differs between non-smokers and smokers Depends on the applicant’s age. Higher for those whose age is closer to the maturity. Premium also depends on payment frequency (whether regular, limited or single pay)
Surrender Period	The lender pays the surrender benefit if: 3 years premium is paid and the policy is limited pay for 10 years or regular pay 2 years premium is paid and the policy is limited pay for 5 years A single pay policy can be surrendered at any time.
Free look period	30 days

Disclaimer: Policybazaar does not rate, endorse or recommend any specific insurance provider or insurance product offered by any insurer.

If you opt for high level of protection, discount is offered as described below:

For Regular and Limited Pay:

Sum Assured in Rupees	Discount Every 1000 of Sum Assured
75,00,000 -99,99,999	0.1
1,00,00,000 -1,99,99,999	0.15
2,00,00,000 - 4,99,99,999	0.2
5,00,00,000 and above	0.25

For single pay:

Sum Assured in Rupees	Discount Every 1000 of Sum Assured
75,00,000 - 99,99,999	0.5
1,00,00,000 and above	1

Note: You can easily calculate the term plan premium by using the term insurance calculator online tool.

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₹1 CRORE

Term Plan Starting @

Get an online discount of upto 15%^#

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⁺Standard T&C Applied

Cancelling the policy in the free look period

This policy comes with a free look period of 30 days after the policy is handed over. If you are not satisfied with the terms and conditions and features of the policy you can cancel the policy by providing a notice to the company. You will get a refund of all the premiums which you paid without interest after the deduction of proportionate risk premium, stamp duty, and medical examination cost which you may have incurred while issuing the policy.

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˜The insurers/plans mentioned are arranged in order of highest to lowest Sum Assured(SA) offered by Policybazaar’s insurer partners offering term insurance plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI.

Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in

Rs. 400/month is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

Rs. 400/month (Rs.13/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 230 is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 8/day is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 12/day is starting price for a 75 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 497/month is starting price for a 1.5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 487/month is starting price for a 2 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 626/month is starting price for a 3 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 905/month is starting price for a 5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 1,267/month is starting price for a 7 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

*The full refund of premium is available on availing the one-time option of refund of premium. Total premium paid for policy (paid for add-ons) will be the special exit value, payable on availing the one-time option of refund of premium if you wish to completely exit the policy.

+Rs. 447/month is starting price for a 1 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs.679/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 910/month is starting price for a 3 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 1,374/month is starting price for a 5 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 1,924month is starting price for a 7 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

Women

+Rs. 400/month is Starting price for a 1 crore term life insurance for an 18 year-old Female, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

Rs. 461/month is the starting price for a 1 crore term life insurance for an 24 year-old female, non-smoker, with no pre-existing diseases, cover upto 54 years of age.

1,642/month is the starting price for a 1 crore term life insurance for an 44 year-old female, non-smoker, with no pre-existing diseases, cover upto 74 years of age.

Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited

We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881

For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale

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