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Tata AIA 75 Lakh Term Insurance

Protecting your family's financial stability involves long-term planning and a dedicated effort to ensure their future security. If you find yourself unsure about where to start, now is the ideal time to purchase the best 75 lakh term insurance policy. Tata AIA Life Insurance presents budget-friendly term insurance options providing coverage of 75 lakhs, thereby guaranteeing financial security in the face of unexpected life events. This article provides detailed information about Tata AIA 75 Lakh Term Insurance, helping you to make a well-informed decision.

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

What is Tata AIA 75 Lakh Term Insurance Plan? 

Tata AIA 75 Lakh Term Insurance Plan is designed to offer financial protection to your nominees in the case of your unfortunate death. Therefore, a 75 Lakh term plan offered by Tata AIA Life Insurance helps by providing a sum assured of Rs. 75 Lakhs.

one crore term plan
plus

Term Plans

₹1
Crore

Life Cover

@ Starting from ₹ 16/day+

₹50
LAKH

Life Cover

@ Starting from ₹ 8/day+

₹75
LAKH

Life Cover

@ Starting from ₹ 12/day+

How Does The Tata AIA 75 Lakh Term Insurance Plan Work? 

Let us understand how this life insurance plan works with the help of this example: 

You can choose a 75 Lakh Term Insurance plan from Tata AIA Life Insurance for a definite policy term, and the assigned nominee will get the death benefit of Rs. 75 Lakhs in the case of your untimely death. Offering a reliable financial safety net for your family and loved ones during challenging times, such as disease or death, the Tata AIA 75 Lakh term insurance plan stands out as a trustworthy option. With affordable premium rates and comprehensive life coverage, it is an ideal term plan choice for individuals seeking to safeguard their family's future.

Why Buy Tata AIA 75 Lakh Term Insurance? 

Here are why you should buy Tata AIA 75 Lakh Term Insurance:

  • Comprehensive coverage at affordable premiums: Tata AIA 75 Lakh term insurance is a policy that will be less of a burden to you. Moreover, starting off the plan at an early age lets you enjoy its benefits with premiums as affordable as Rs. 553/month.

  • Added Coverage Advantages: Tata AIA 75 Lakh term insurance offers additional coverage benefits, including rider benefits like accidental death benefits, terminal illness benefits, and waiver of premium riders.

  • Financial family support: The Tata AIA 75 Lakh Term Insurance plan guarantees the fulfilment of your loved ones' financial needs in your absence. Moreover, the nominees can utilise the death benefit to settle debts/loans and liabilities or to cover household expenditures.

How to Determine the Right Coverage Amount? 

Here is a list of some factors that can help determine if buying a 75 Lakh term life insurance plan is the right choice for you: 

  • Your Annual Income: When assessing all the term plan options to buy the best term insurance plan, it's a wise step to make sure that your cover amount is at least 10 times your yearly income. For example, if the annual income is Rs. 5 Lakhs, the term plan should at least be Rs. 75 Lakhs. You can easily use Policybazaar’s term insurance calculator for a more appropriate estimate.

  • Current Age: Age is important in determining the most suitable coverage for your term life insurance plans. As individuals age, the likelihood of having health issues increases, leading to higher premium rates. Therefore, it is advisable to consider buying the best 75 Lakh term insurance plan at a younger age. This approach enables you to secure extensive coverage at lower premium rates, ensuring financial well-being for your loved ones while maintaining affordable premiums over an extended period.

  • Assessing Financial Dependents and Their Needs: Evaluating the financial well-being of your dependents is crucial in determining whether a 75 Lakh term insurance policy aligns with your goals and needs. Consider the number of family members reliant on you for financial support and carefully analyze their future needs, including education, marriage, loans, etc. It is crucial to ensure that the financial requirements of all your dependents, particularly those depending on your financial support, are appropriately addressed.

  • Settling Loans and Liabilities: When considering buying a term plan, thoroughly assess any existing loans or debts, such as home, car, or education. Choosing a 75 Lakh term insurance policy is beneficial because it provides a comprehensive life cover that caters to all your requirements.

What are the Benefits of Tata AIA 75 Lakh Term Insurance? 

Here are the benefits of Tata AIA 75 Lakh Term Insurance:

  • Cost-Effectiveness: The premium rate of 75 Lakh term insurance is affordable, and if you buy term plan at a younger age, you can get this plan at low premium rates. 

  • Enhanced Coverage with Add-ons: The Tata AIA 75 Lakh term insurance plan not only offers comprehensive coverage for the protection of your loved ones but also provides the flexibility to enhance it with additional add-ons such as critical illness, premium waiver, and accidental death riders. While these riders are not obligatory, they offer extra protection against various risks tailored to your specific needs. But keep in mind that you will be able to add these riders to your term plan only while buying it.

  • Effortless Online Purchase: Buying the Tata AIA 75 Lakh Term Insurance plan online is a convenient and hassle-free process, eliminating the tiring offline process, i.e. visiting Tata AIA's branches or office or standing in long queues. Moreover, through Policybazaar, you can avail a 10% discount when purchasing term plans online.

  • Flexible Payout Options: Unlike many life insurance companies that typically provide the death benefit of term insurance plans as a lump sum, you have the flexibility to choose from various payout methods. For instance, you can select a combination of a lump sum and monthly income payout, granting you better control over managing your expenses.

  • Tax Advantages: Another noteworthy benefit of securing the best 75 Lakhs term plan is eligibility for tax deductions under section 80C and 10(10D) of the Income Tax Act, 1961.

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Who Should Opt for Tata AIA 75 Lakh Term Insurance?

Here is a list of all eligible people who can buy 75 Lakh Term Insurance:

  • Young individuals

  • Business Owners/Self-employed

  • Sole earning member of a family

  • People with outstanding debts 

  • Newly wedded people

  • Parents with children

How do you buy Tata AIA 75 Lakh Term Insurance from Policybazaar?

Here are the steps to buy Tata AIA 75 Lakh Term Insurance from Policybazaar:

Step 1: Visit Policybazaar's official website and go to 'Term Insurance'.

Step 2: Fill in your basic details such as Name, Date of Birth, and contact number, then click on 'View Plans'.

Step 3: Respond to all the necessary questions about your smoking habits, annual income, occupation type, and educational qualifications.

Step 4: Select 75 Lakhs as your life cover to view all the available term plans.

Step 5: Once you have submitted all your details, a list of the best term insurance plans will be displayed.

Step 6: Choose the Tata AIA plan from the list and proceed to payment using your preferred mode.

FAQs

  • Q: What does the Tata AIA 75 Lakh Term Insurance Plan offer?

    Ans: The Tata AIA 75 Lakh Term Insurance Plan provides a financial safety net for your loved ones, delivering a death benefit of Rs. 75 Lakhs in the event of your untimely demise.
  • Q: What are the key benefits of Tata AIA 75 Lakh Term Insurance?

    Ans: Tata AIA 75 Lakh Term Insurance offers cost-effectiveness, optional add-ons for extra benefits, easy online availability, flexible payout options, and tax benefits under section 80C and 10(10D) of the Income Tax Act.
  • Q: Who should buy Tata AIA 75 Lakh Term Insurance?

    Ans: Tata AIA 75 Lakh Term Insurance is suitable for young individuals, self-employed/business owners, newly married couples, parents with children, sole earning members, and those with debts.
  • Q: Why should one consider purchasing Tata AIA 75 Lakh Term Insurance?

    Ans: Buy Tata AIA 75 Lakh Term Insurance for high coverage at low premiums, additional benefits like accidental death coverage, terminal illness benefits, and waiver of premium riders. It ensures financial support for dependents, covering loans, debts, and household expenses.
  • Q: How to determine the right coverage amount?

    Ans: Consider factors such as annual income, age, financial dependents, future needs, and outstanding loans when deciding the appropriate life cover. Use Policybazaar’s term insurance calculator for accurate calculations.
  • Q: How does the Tata AIA 75 Lakh Term Insurance Plan function?

    Ans: The Tata AIA 75 Lakh Term Insurance plan ensures your nominated beneficiary receives a death benefit of Rs. 75 Lakhs in case of your demise, providing financial stability for your loved ones. Affordable premiums and comprehensive coverage make it a reliable choice for securing your family's future.
  • What are the benefits of term life insurance?

    Ans: Here are 4 common term insurance benefits:
    • Low premium rates
    • Tax Benefits
    • Death Benefit
    • Long term coverage

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