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. 

Read more
Get ₹1 Cr. Life Cover at just ₹449/month*
No medical checkup required
Save more with upto 10% discount
Covers COVID-19
Tax Benefit
Upto Rs. 46800
Life Cover Till Age
99 Years
8 Lakh+
Happy Customers
*Tax benefit is subject to changes in tax laws. *Standard T&C Apply
** Discount is offered by the insurance company as approved by IRDAI for the product under File & Use guidelines
Get ₹1 Cr. Life Cover at just ₹449/month*
No medical checkup required
Save more with upto 10% discount
Covers COVID-19
+91
View plans
Please wait. We Are Processing..
Get Updates on WhatsApp
By clicking on "View plans" you agree to our Privacy Policy and Terms of use

On 25th 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.

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 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

 

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. 

Types of Term Plans

Term insurance articles

Recent Articles
Popular Articles
Unique Features In Term Insurance

27 Jun 2022

Policybazaar has actively striven to make insurance buying easy...
Read more
Term Life Insurance For 65-year-Old Male

26 May 2022

Term insurance has traditionally been considered a protection...
Read more
How Term Insurance Plans Cover Home Loan Risks?

26 May 2022

Owning a house is one of the goals that everyone set for...
Read more
How I Can Secure My Wife's Future with MWP Act?

26 May 2022

Starting a family is a big responsibility. While people consider...
Read more
Term Insurance For Over 50s

26 May 2022

Old age is the time when most individuals want to enjoy their...
Read more
Term Insurance Calculator 2022 - Calculate your Term Insurance Premium Online
Term Insurance Calculator A term plan premium online calculator is a freely accessible online tool that helps to...
Read more
2 Crore Term Insurance Plan
The pandemic has surely generated a global panic and emphasised the importance of financial planning that would...
Read more
Term Plan with Return of Premium - TROP 2022 | Policybazaar
Term Insurance is a simple life insurance plan that provides financial coverage in the form of a life cover for a...
Read more
LIC Term Insurance 1 Crore
If you have a LIC term insurance 1 Crore handy, you can cherish all your happy moments as you have made a fine...
Read more
Term Insurance For Housewife
Being a housewife seems an easy and thankless job to people. On the contrary, being a housewife should be the...
Read more
top
View Plans
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL