Tata AIA Smart Sampoorna Raksha Supreme Plan

What is Tata AIA Smart Sampoorna Raksha Supreme Plan?

Tata AIA Smart Sampoorna Raksha Supreme is a Unit Linked, Non-Participating Individual Life Insurance Plan designed to offer a blend of security, wealth, and goal achievement. This ULIP plan provides high-life coverage, ensuring financial protection for your loved ones in case of any unforeseen event. 

By combining this investment plan with additional riders, you can further enhance your coverage, making it a true shield for your future aspirations. This plan allows you to turn your dreams into reality by securing your family's financial future while helping you build wealth over time.

Features of Tata AIA Smart Sampoorna Raksha Supreme Plan

Following are the key features of the Tata AIA Smart Sampoorna Raksha Supreme Plan: 

• High Sum Assured: Provides a large amount of money to protect your family in case of unexpected events.

• Flexible Payment Terms: Lets you choose different ways to pay premiums, including options for lifetime coverage.

• Customizable to Your Goals: Can be adjusted to fit your long-term financial needs.

• Wide Fund Options: You can select from various investment funds, such as debt or equity, based on your choice.

• Partial Withdrawals Available: You can withdraw part of your money if you need extra income.

• 2X Premium Allocation Refund: You get a refund of double the premium allocation charges.

• Mortality Charges Refund: Mortality charges are refunded to reduce your overall cost.

• Smart Lady Benefit: Special benefits are offered to female policyholders.

List of ULIP Funds ^~

Returns 3 Years 5 Years 10 Years

Fund Name

AUM

NAV

Returns (in %)

3 Year

5 Year

10 Year

High Growth Fund

Max Life

AUM:8,941 Cr

8,941 Cr

NAV

99.26

2.70%

Returns

22.33%

Returns

24.84%

Highest Returns

Returns

16.4%

Get Details

Top 200 Fund

Tata AIA

AUM:2,165 Cr

2,165 Cr

NAV

157.3

2.99%

Returns

20.6%

Returns

24.04%

Highest Returns

Returns

16.77%

Get Details

Accelerator Mid-Cap Fund II

Bajaj Allianz

AUM:6,113 Cr

6,113 Cr

NAV

72.82

1.60%

Returns

15.25%

Returns

17.43%

Highest Returns

Returns

13.2%

Get Details

Opportunities Fund

HDFC Standard

AUM:38,723 Cr

38,723 Cr

NAV

67.05

1.42%

Returns

14.92%

Returns

17.56%

Highest Returns

Returns

13.33%

Get Details

Equity II Fund

Canara HSBC Oriental Bank

AUM:3,424 Cr

3,424 Cr

NAV

38.13

0.26%

Returns

10.43%

Returns

11.56%

Highest Returns

Returns

8.64%

Get Details

Accelerator Fund

AEGON Life

AUM:232 Cr

232 Cr

NAV

44.03

0.60%

Returns

15.21%

Returns

16.77%

Highest Returns

Returns

11.62%

Get Details

Grow Money Plus Fund

Bharti AXA

AUM:425 Cr

425 Cr

NAV

63.16

0.48%

Returns

12.32%

Returns

15.75%

Highest Returns

Returns

12.67%

Get Details

Multiplier

Birla Sun Life

AUM:4,537 Cr

4,537 Cr

NAV

81.04

2.43%

Returns

15.23%

Returns

18.22%

Highest Returns

Returns

14.04%

Get Details

Equity Top 250 Fund

Edelwiess Tokio

AUM:537 Cr

537 Cr

NAV

53.71

0.71%

Returns

12.07%

Returns

14.1%

Highest Returns

Returns

10.82%

Get Details

Future Apex Fund

Future Generali India

AUM:86 Cr

86 Cr

NAV

49.86

0.81%

Returns

12.51%

Returns

17.14%

Highest Returns

Returns

11.19%

Get Details

Opportunities Fund

ICICI Prudential

AUM:3,200 Cr

3,200 Cr

NAV

53.1

0.65%

Returns

13.83%

Returns

15.71%

Highest Returns

Returns

10.97%

Get Details

Frontline Equity Fund

Kotak Mahindra OM

AUM:4,197 Cr

4,197 Cr

NAV

63.03

1.00%

Returns

14.76%

Returns

17.3%

Highest Returns

Returns

12.76%

Get Details

Flexi Growth Fund

LIC

AUM:396 Cr

396 Cr

NAV

10.84

0.04%

Returns

-

Returns

-

Returns

-

Get Details

Virtue II

PNB Metlife

AUM:3,337 Cr

3,337 Cr

NAV

65.67

1.31%

Returns

14.43%

Returns

20.71%

Highest Returns

Returns

14.2%

Get Details

Pension Dynamic Equity Fund

Pramerica Life Insurance Limited

AUM:7 Cr

7 Cr

NAV

68.07

0.28%

Returns

11.52%

Returns

13.53%

Highest Returns

Returns

9.39%

Get Details

Equity Fund

SBI

AUM:76,236 Cr

76,236 Cr

NAV

188.48

1.46%

Returns

11.97%

Returns

13.7%

Highest Returns

Returns

10.45%

Get Details

Blue-Chip Equity Fund

Star Union Dai-ichi

AUM:1,256 Cr

1,256 Cr

NAV

32.73

0.20%

Returns

10.09%

Returns

11.63%

Highest Returns

Returns

9.07%

Get Details

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Disclaimer :
˜Top 5 plans based on annualized premium, for bookings made in the first 6 months of FY 24-25. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in

Eligibility Criteria for Tata AIA Smart Sampoorna Raksha Supreme Plan

Benefits of Tata AIA Smart Sampoorna Raksha Supreme Plan

• Two Plan Options:

  • Classic Plan: Adds mortality and premium allocation charges to your fund, boosting its value to help you achieve your financial goals.

  • Optima Plan: Offers zero premium allocation and policy admin charges, reducing deductions and increasing the overall fund value.

• Maturity Benefit: At policy maturity, you will receive the Total Fund Value, including any Top-Up Premium Fund Value, calculated at the applicable NAV.

• Death Benefit: In case of death during the policy term, the nominee receives the highest of:

  • Basic Sum Assured (after Partial Withdrawals).

  • Premium Fund Value.

  • 105% of premiums paid (after Partial Withdrawals).

  If applicable, the highest of either Top-Up Sum Assured or Top-Up Premium Fund Value will also be paid.

• Loyalty Additions/Fund Boosters

  • Classic Plan: Mortality charges (excluding taxes) are added to your fund value starting from the 11th policy year, until age 85 or policy term ends.

  • Optima Plan: Not applicable.

• Refund of Mortality Charges: 

  • Classic Plan: Mortality charges deducted in the first 120 months are refunded as unit additions starting from the 11th policy year.

  • Optima Plan: Not applicable.

• Refund of Premium Allocation Charges: 

  • Classic Plan: Twice the premium allocation charges (excluding taxes) deducted in earlier years are refunded as unit additions at the end of the 10th, 11th, 12th, and 13th policy years.

  • Optima Plan: Not applicable; Cover Continuance Booster applies.

  • Cover Continuance Booster: Optima Plan: Additional non-negative amounts are added to your fund value if premiums are paid and the policy is in force. Details in Annexure A.

  • Smart Lady Benefit: For female policyholders, 0.50% of the instalment premium or 0.25% of the single premium is added to the fund value at the first premium allocation. This benefit is available under both plan options.

  • Investment Options: You can choose from 25 investment fund options based on your preferences or from the two portfolio strategies:

    • Enhanced SMART: Systematic money allocation with regular transfers.

    • Life-Stage Portfolio: Investments based on your life stage.

  • Discontinued Policy Fund: The fund aims to provide capital protection with a minimum return, ensuring safety and liquidity through investment in high-quality short-term debt. It has a very low-risk profile and offers a minimum guaranteed interest of 4% p.a., or as prescribed by IRDAI from time to time.

  • Partial Withdrawals for Second Income: After 5 policy anniversaries, you can make partial withdrawals starting from the Top-Up Fund (post lock-in). If the Top-Up Fund is insufficient, withdrawals are made from the Regular/Special Fund. Minimum withdrawal amount is ₹1,000, and no charges apply. The remaining Fund Value must meet specific requirements.

  • Systematic Withdrawal Plan (SWP): Allows you to withdraw a fixed amount or percentage (1%-15%) of your fund value at regular intervals (monthly, quarterly, half-yearly, or yearly) after 5 policy anniversaries. You can modify or opt out with a 30-day notice.

  • Chosen-Rate Withdrawal Plan (CWP): If the fund’s performance exceeds your chosen rate of return, the difference is paid out. CWP and SWP cannot be used together, but both can be availed alongside partial withdrawals if fund value requirements are met.

  • Index-Based Withdrawal Plan (IWP): Linked to external indices (e.g., G-Sec rate, CPI inflation). If the fund’s performance exceeds the index return, the positive difference is paid out. You can select from various indices like G-Sec rates or CPI.

  • Top-Up Premiums: You can pay additional premiums (minimum ₹1,000), except in the last 5 years of the policy. Top-ups have a 5-year lock-in period and are subject to policy charges. The Top-Up Sum Assured cannot be changed.

  • Settlement Option: At maturity, choose to receive the benefit as a lump sum or periodical payments over 5 years. Life cover continues, and the higher of the fund value or 105% of premiums paid will be returned to the nominee in case of death.

  • Switching Between Funds: Policyholders can request to switch investments between available funds by submitting a written request specifying the funds to redeem and allocate. The change is made based on the applicable NAV, but switching may be restricted if a portfolio strategy is chosen.

  • Premium Re-direction: The Premium Re-direction facility allows policyholders to allocate future premiums to different funds, with the percentage for each fund adding up to 100%. There is no charge for this facility, but it is not available for the Enhanced SMART portfolio option.

Optional Health Riders Available with Tata AIA Smart Sampoorna Raksha Supreme Plan

You can further enhance your coverage by adding the following non-participating, premium-paying health riders:

1. Tata AIA Life Insurance Linked Comprehensive Protection Rider

   Covers death, disability due to accident, critical illnesses, and terminal illness. Benefits can be received as lump sum or income for a fixed period, income till partner’s survival, or waiver of premium. Available at policy inception or any anniversary.

2. Tata AIA Life Insurance Linked Comprehensive Health Rider

   Provides coverage for disability, hospitalization, and critical illnesses (e.g., cancer, cardiac arrests). Allows multiple claim payouts for major and minor illnesses. It can be opted at policy inception or any anniversary.

3. Tata AIA Vitality Protect Plus

   Covers death, disability, critical illnesses, and terminal illness. Allows flexible benefits (lump sum or income). Includes 'Tata AIA Vitality' wellness program offering rewards for health goals. Available at policy inception or any anniversary.

4. Tata AIA Vitality Health Plus

   Offers coverage for disability, hospitalization, and critical illnesses, with multiple claim payouts. Motivates a healthy lifestyle with 'Tata AIA Vitality' wellness program and rewards for health achievements. It can be opted at policy inception or any anniversary.

5. Tata AIA Sampoorna Health

   Provides fixed benefit payouts for health needs, including 57 critical illnesses, surgeries, and hospitalization. Covers day-care procedures and surgeries, regardless of medical bills. It can be added to the base policy for comprehensive health coverage.

Other Key Rider Benefits Available with the Tata AIA Smart Sampoorna Raksha Supreme Plan

Following are the non-participating and unit-deducting riders that can be added to your base plan:

1. Tata AIA Life Insurance Waiver of Premium (Linked) Rider

   Ensures continued coverage even if premiums are unpaid due to total and permanent disability. Available at policy inception or anniversary.

2. Tata AIA Life Insurance Waiver of Premium Plus (Linked) Rider

   Ensures continued coverage if premiums are unpaid due to total permanent disability or death of the proposer. Available at policy inception or anniversary.

3. Tata AIA Life Insurance Accidental Death and Dismemberment (Long Scale) Rider

   Provides financial support in case of accidental death or dismemberment. Helps fill the financial gap for your family after such an unfortunate event. It can be opted at policy inception or anniversary.

4. Tata AIA OPD Care

   Offers end-to-end healthcare solutions, including consultations, physiotherapy, prescribed medicines, nutrition management, and emotional wellness tools (podcasts, guided meditation, mood tracker). Available for added healthcare benefits.

Key Terms for Adding Unit-Deducting Riders

• Waiver of Premium Rider and Waiver of Premium Plus Rider: The policy term of these riders should not exceed the outstanding premium-paying term of the base policy.

• Accidental Death and Dismemberment Rider: The policy term should not exceed the remaining term of the base policy.

Portfolio Management Strategies of Tata AIA Smart Sampoorna Raksha Supreme Plan

The following two types of portfolio management strategies are available under the Tata AIA Smart Sampoorna Raksha Supreme Plan:

1. Enhanced Systematic Money Allocation & Regular Transfer (Enhanced SMART):

   • Systematic Transfer Plan: Allows structured entry into the equity market with Regular, Limited, or Single Premium policies. Premiums are invested in a debt-oriented fund, which is systematically transferred to an equity-oriented fund monthly.

   • Activation & Flexibility: Can be activated at policy inception or on any policy anniversary with a 30-day prior notice. You can stop it anytime with a written request.

   • Conditions:

     • Only applicable during the premium payment term (not for top-up premiums).

     • Manual switching is not allowed between the two chosen funds but can be done for other available funds with applicable charges.

     • Option is unavailable during premium discontinuance but can be resumed upon policy revival.

2. Life-Stage Based Portfolio Strategy

   • Structured Investment: Your portfolio is structured based on your age and chosen risk profile (Conservative, Moderate, Aggressive), with a mix of debt and equity funds in predetermined proportions.

   • Automatic Adjustment: As you age, your fund value shifts automatically from equity-oriented to debt-oriented funds according to the applicable age-based equity-debt ratio.

   • Conditions:

     • Can be activated at policy inception or any policy anniversary with a 30-day prior notice.

     • No Premium-Redirection or Fund-Switching options allowed while enrolled.

     • The strategy is free and can be stopped anytime with 30-day notice.

     • Unavailable during premium discontinuance but can be resumed upon policy revival.

Policy Details of Tata AIA Smart Sampoorna Raksha Supreme Plan

• Discontinuance of Premiums (Within Five Years from Commencement):

  • For Regular/Limited Pay Policies: If premiums are not paid after the grace period, the policy is discontinued. The fund value (after discontinuance charges) is moved to the discontinued policy fund, and the risk cover ceases. The policyholder has a 3-year revival period. If the policy is not revived, the proceeds are paid at the end of the revival or lock-in period, and the policy will terminate.

  • For Single Pay Policies: The policyholder can surrender anytime during the lock-in period. The fund value (after discontinuance charges) is moved to the discontinued policy fund, and the policy remains invested. Only fund management charges are deducted, with no risk cover during this period. Proceeds are paid at the end of the lock-in period.

• Minimum Guaranteed Interest Rate for Segregated Discontinued Policy Fund: The minimum guaranteed interest rate for the discontinued fund is 4% per annum, with any excess income above this rate being added to the fund, benefiting the policyholder, not shareholders.

• Surrender Value: 

  • Before Lock-in Period: If the policy acquires a surrender value within the first five years, the value becomes payable only after the lock-in period.

  • After Lock-in Period: For regular or limited pay policies, the policy becomes a reduced paid-up policy if discontinued after the lock-in period. The policy will continue without rider cover, and charges will apply during the revival period. The policyholder has the option to revive the policy or withdraw completely.

• Discontinuance After the Lock-in Period:

  • Regular/Limited Pay Policies: After the lock-in period, the policy is converted into a reduced paid-up policy with no rider cover. The policyholder can choose to revive the policy within three years or withdraw completely.

  • Single Pay Policies: The policyholder can surrender the policy anytime after the lock-in period. The surrender value, based on the fund value at the time of surrender, will be paid out.

• Sum Assured of Reduced Paid-Up Policies: The reduced paid-up sum assured is calculated based on the premiums paid relative to the total premium term. The death benefit is the highest of the reduced paid-up sum assured, the policy’s fund value, or 105% of premiums paid.

• Surrender Terms & Conditions:

  • During Lock-in Period: If the policy is surrendered during the lock-in period, the fund value after deducting applicable charges will be credited to the discontinued policy fund. The proceeds will be paid after the lock-in period with guaranteed interest.

  • After Lock-in Period: The total fund value at the time of withdrawal will be paid to the policyholder, and all policy benefits will cease.

• Change in Premium Payment Modes: Policyholders can change the frequency of premium payments, subject to policy conditions and approval, with monthly premiums auto-deducted unless otherwise agreed. 

• Change in Sum Assured: Increase or decrease in the Basic Sum Assured is allowed within specified limits, but changes to Top-Up Sum Assured are not permitted.

• Change in Premium: No increase or decrease in the Basic Premium is allowed.

• Change in Premium Payment Term: Increase in the premium payment term is allowed if the policy is in force and premiums have been paid. 

• Change in Policy Term: Increase in policy term is allowed under specific conditions if the policy is in force and premiums have been paid.

• Free Look Period: Policyholders can cancel the policy within 30 days of receiving it and receive a refund after deductions for certain charges.

• Grace Period: A 30-day grace period applies for Annual, Half-Yearly, or Quarterly payments, and 15 days for Monthly payments, with coverage still active during this period.

• Policy Loan: No policy loan is available under this plan.

How Does the Tata AIA Smart Sampoorna Raksha Supreme Plan Work?

You can secure and grow your investments by following these simple steps by Tata AIA ULIP plans:

Step 1: Choose one of the two available options.
Step 2: Pick how long you want to invest and pay premiums in a way that suits you.
Step 3: Choose the amount you want to be assured and select an investment strategy that fits your needs.

This plan gives you flexibility to manage your investment.

Suicide Exclusion Criteria of Tata AIA Smart Sampoorna Raksha Supreme Plan

If the policyholder dies by suicide within 12 months from the commencement or revival date, the nominee receives the fund value but no additional charges. For rider exclusions, refer to the respective contract.