Tata AIA Life Smart Sampoorna Raksha

Tata AIA Life Smart Sampoorna Raksha is a comprehensive term insurance plan that helps fulfill all your long-term objectives such as a child’s higher education, retirement planning, and wealth creation. It is a protection and savings plan that helps safeguard your life goals with a suitable life cover. 

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Get ₹1 Cr. Life Cover at just ₹449/month+
Why Tata Aia Life Insurance? Know More
98.02% Claim Settlement Ratio+
4 Hours Claim Settlement+
40 Critical Illnesses Benefit+
Whole Life Cover+
Accidental Death Benefit+

Why Tata Aia Life Insurance?

×
  • 98.02% Claim Settlement Ratio

    The company ensures your loved ones receive the financial support needed in your absence, hassle-free.

  • 4 Hours Claim Settlement

    With ‘Express Claims’, TATA AIA endeavors to provide claim payment within 4 hours for policies with Death Benefit upto 50 Lacs.

  • 40 Critical Illnesses Benefit

    Additional Payout on 40 Critical Illnesses including Minor and Major Cancer related, Cardiac related and other Critical Illnesses. This benefit safeguards your family against financial urgency resulting from these illnesses.

  • Whole Life Cover

    Ensure financial protection and create a financial cushion for the family even in your absence with a whole life cover plan.

  • Accidental Death Benefit

    One death every minute in India happens due to a road accident. This optional benefit provides your loved one’s additional pay-out in case of death due to an accident.

*Tax benefit is subject to changes in tax laws.

**All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

Disclaimers

Get ₹1 Cr. Life Cover at just ₹449/month+
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Key Features of Tata AIA Life Smart Sampoorna Raksha

Here are the features of Tata AIA Life Insurance Smart Sampoorna Raksha:

  • It is a Unit-linked and non-participating individual life insurance plan

  • Tata AIA term insurance plan offers the flexibility to choose from 11 funds based on your risk appetite, ranging from fixed income to equity-oriented.

  • Protects your life objectives by providing the death benefit in case of untimely death during the policy term.

  • Refund of twice the mortality charges from the commencement of the 11th year of the policy.

  • Refund of twice the premium allocation charges in the 10,11, and 12th years of the policy.

  • You can choose to pay a regular or limited premium of 5, 10, and 12 years under this term insurance plan.

  • Get tax benefits as applicable in Income Tax Laws

Eligibility Criteria of Tata AIA Life Smart Sampoorna Raksha

Parameters Minimum Maximum
Entry Age 18 years 45 years
Maturity Age 48 years 85 years
Policy Term 30 years - 40 years
Premium Paying Term (PPT) For Limited Pay - 5/10/12 years
For Regular Pay - Equal to Policy Term
Sum Assured 50 Lacs 5 Crores
Frequency of paying the premium Monthly, Quarterly, Semi-Annual, Annual

Benefits of Tata AIA Life Smart Sampoorna Raksha

Tata AIA Life Insurance Smart Sampoona Raksha is a wide-ranging term insurance plan. It provides various benefits that might help you in fulfilling your long-term goals. Let’s understand the benefits in detail:

  1. Death Benefit

    In case of the death of the life assured during the policy tenure, providing the policy to be in force, the legal heir or the nominee will get the highest of the following:

    • The basic sum assured

    • Current fund value

    • 105% of the complete regular premiums paid up to the death date

    Also, the following benefits are payable if the policyholder has opted for the top-up premium fund value. The nominee will get the highest of the following:

    • Top-up sum assured (approved)

    • Fund value of top-up premium

    • 105% of the complete top-up premium paid up to the death date

  2. Maturity Benefit

    Upon the survival of the life assured to the end of the policy tenure, the complete fund value that includes the Fund value of the Top-up premium is payable to the nominee or legal heir.

  3. Refund of 2 Times the Mortality Charges

    From the 11th year of the policy, two times of the mortality charges which were deducted in the 120th month (10 years) of the policy will be added along with the fund value in form of adding units. Let’s say, at the start of the 11th year, 2 times the mortality charges deducted in the 1st month of the policy shall be refunded to you.

  4. Refund of 2 Times the Premium Allocation Charges

    After the 10th, 11th, and 12th year of the policy, 2 times the premium allocation rates are deducted 10 years before (for policy years 1,2, and 3 respectively) shall be added to the value of funds in the form of units’ addition. These types of additions shall continue till the plan is active and all due amounts of premiums have been paid.

  5. Cover Continuous Booster

    These funds are added to the fund value in the form of the addition of units.

    Time First 15 years of policy From the 16th year of the policy till the end of the policy tenure
    Credit Timing At the last of the policy months, if fund value comes below 1 yearly premium At the last of each month of the policy if the fund value comes below the fund value inferred by the target
  6. Surrender Value

    The surrender value will be payable after the completion of the lock-in time if the policy obtains a surrender value during the first 5 policy years.

  7. Tax Benefit

    Get the Income tax benefit on the premium paid under section 80C of the Income Tax Act, 1961.

    ++Tax Benefit is subject to changes in tax laws. Standard T&C apply

Policy Charge of Tata AIA Smart Sampoorna Raksha

  1. Premium Allocation Charges

    This charge is deducted from the regular premiums and the balance amount is invested in funds as per your selection. The below table shows the premium allocation charge in terms of % of annualized premiums:

    Policy Year Annualized premium (in %)
    1 12
    2 6
    3 5
    4 years onwards Nil
  2. Policy Administration Charges

    The charge of 0.41% per year of annualized premium from the 4th year of policy will be deducted from your funds at the start of each month.

  3. Fund Management Charge

    This charge is deducted for each fund on every valuation date at the following yearly rates.

    Funds % of Fund management charges per year
    Multi-Cap Fund 1.20
    Indian Consumption Fund 1.20
    Top 50 Fund 1.20
    Top 200 Fund 1.20
    Super Select Equity Fund 1.20
    Large Cap Equity Fund 1.20
    Whole Life Mid-Cap Fund 1.20
    Whole Life Aggressive Growth Fund 1.10
    Whole Life Stable Growth Fund 1.00
    Whole Life Income Fund 0.80
    Whole Life Short Term Fixed Income Fund 0.65

    ++All savings are provided by the insurer as per the IRDAI approved insurance plans. Standard T&C applies.

    ++Disclaimer: Policybazaar does not endorse, rate, or recommend any particular insurer or insurance product offered by an insurer.

  4. Mortality Charge

    This is deducted by canceling the units from the fund value monthly. If the fund value for the regular premium is not adequate, then the mortality charges will be deducted from the fund value of the top-up premium.

  5. Discontinuance Charge

    The life assured has the option to discontinue the premium payments anytime during the policy tenure by informing the insurer. If the request is made to discontinue the policy within 5 years from the commencement date of the policy, the fund value and the net discontinuance charges will be transferred to the Discontinuous policy fund.

  6. Partial Withdrawal Charges

    No partial withdrawal charges are available under this plan.

  7. Charges for Switching Funds

    The policy offers 12 free switches in a year beyond which a charge of Rs.100 per switch applies The charges are subject to change as per the IRDAI guidelines but shall not exceed Rs.250 as per IRDAI rules and regulations.

Fund Options in Tata AIA Smart Sampoorna Raksha

Fund Options Risk Profile Allocation of Assets Minimum (%) Maximum (%)
Multi Cap Fund High Equity 60 100
Debt Instruments 0 40
Money/Cash Market Instruments 0 40
Indian Consumption Fund High Equity 60 100
Debt Instruments 0 40
Money/Cash Market Instruments 0 40
Top 50 Fund High Equity Instruments 60 100
Money/Cash Market Instruments 0 40
Top 200 Fund High Equity Instruments 60 100
Money/Cash Market Instruments 0 40
Multi Cap Fund High Equity 60 100
Debt Instruments 0 40
Money/Cash Market Instruments 0 40
Super Select Equity Fund High Equity-linked and Equity instruments 60 100
Debt 0 40
Cash/Money Market 0 40
Large Cap Equity Fund High Equity-linked and Equity instruments 80 100
Cash/Money market 0 20
Whole Life Mid Cap Equity Fund High Equity and instruments linked to equity 60 100
Cash/Money market 0 40
Whole Life Aggressive Growth Fund Medium to High Equity-linked and Equity instruments 50 80
Debt 20 50
Cash/Money market 0 30
Whole Life Stable Growth Fund Low to Medium Equity and instruments linked to equity 30 50
Debt 50 70
Cash/Money market 0 20
Whole Life Income Fund Low Debt 60 100
Cash/Money Market 0 40
Whole Life Short-term Fixed Income Fund Low Debt (for <3 years) 60 100
Cash/Money Market 0 40

++Disclaimer: Policyholder does not endorse, rate, or recommend any particular insurer or insurance product offered by an insurer.

Best term Insurance Plans in India Best term Insurance Plans in India

Riders

Below are the term insurance riders/add-ons available under this product:

  • Tata AIA Life Term Insurance Non-Linked Comprehensive Protection Rider

    • Accidental Death Benefit: An amount of 50 Lacs under this Benefit Option will be payable in the event of the death of the Life Insured due to an accident within the Benefit Option Term, provided the death occurs within 180 days from the accident.The nominee will receive Double the Benefit amount in case of death due to an accident in Public Transport.

    • Accidental Total and Permanent Disability Benefit: An amount of 50 Lacs under this Benefit Option will be payable in the event of the Total and Permanent Disability of the Life Insured due to an accident within the Benefit Option Term, provided the disability occurs within 180 days from that accident.

  • Tata AIA Life Term Insurance Non-Linked Comprehensive Health Rider

    • Hospital Cash Benefit: 0.5% per day will be paid in case of hospitalization for treatment of any injury or illness for a minimum time of 1 day. The annual limit is 30 days for a policy year subject to a maximum of 200 days during the complete policy term.

    • ICU Benefit: 0.5 percent per day will be paid for each day of stay in ICU. The annual limit is a maximum of 15 days per policy year.

    • Recuperation Benefit: 15 percent of the benefit amount will be paid in case of continuous hospitalization in 1 or more hospitals for seven or more days for the same disease or injury. This benefit will be paid one time in a plan year.

Policy Details

  1. Free Look Period

    If you are not satisfied with the terms and conditions of the policy, the life assured has the option to cancel the policy by providing written notice to the company stating the reasons. After the approval, all the non-allocated amounts along with the fund value (excluding the medical tests, risk premium amount for the short term, and charges of stamp duty) will be refunded.

    30 days of free look period is provided if this term insurance plan has been purchased through distance marketing mode and 15 days if it is purchased through any other mode.

  2. Grace Period

    If you are not able to pay your regular premiums on time, commencing from the date of your 1st unpaid premiums, a grace period of 30 days is offered by the company for annual/half-yearly, or quarterly modes of premium payment.

  3. Loan

    The loan facility is not available under Tata AIA Term Insurance Plans.

  4. Switching of Funds

    The policyholder can switch the investment fund option from one to another during the policy term as per your requirements. 12 free switches are allowed in a year.

  5. Re-direction of Premiums

    This helps the assured to allocate future premiums to a distinct set of funds. No premium Re-direction charges are allowed under this policy.

  6. Discontinuance of Premiums

    If in case the premiums are not duly paid even after the grace period, within the time of 5 years of purchasing the policy, the fund value is transferred to the discontinuous policy fund and credited to the life assured after 5 policy years.

  7. Revival Period

    All the discontinued policies have a revival period of 3 years from the date of 1st unpaid premiums.

Sample Premium Illustration of Tata AIA Term Insurance Smart Sampoorna Raksha

The below table illustrates the maturity benefit for a 35 year healthy-non-smoker individual with a fund value allocation of 50% in Midcap equity and 50% in large-cap equity funds.

Age 35 35 35
Policy Term 40 40 40
Annualized Premium Rs. 60,000 Rs. 50,000 Rs. 20,000
Basic Sum Assured (Guaranteed Benefits) Rs. 6,00,000 Rs. 10,00,000 Rs. 6,00,000
Non-Guaranteed Benefits
Maturity Benefit @ 8% Rs. 24,78,672 Rs. 40,09,761 Rs. 33,95,965
Maturity Benefit @ 4% Rs. 4,21,716 Rs. 8,98,981 Rs. 12,53,372

++Policyholder does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.

Exclusions

Suicide

If the life assured dies because of suicide within 12 months (1 year) from the commencement date of the policy or the policy’s revival date, the nominee/beneficiary will receive fund value as mentioned on the date of intimation of the policyholder’s death.

FAQ's

  • Q: What is the frequency of paying premiums for Tata AIA Life Smart Sampoorna Raksha?

    Ans: You can select any of the following premium payment frequencies:
    • Annual
    • Half-yearly
    • Quarterly
    • Monthly
  • Q: How can I file a claim under this plan?

    Ans: You can choose the following options to contact them for raising a claim:
    • Reach out to them via email:claims@tataaia.com
    • Toll-free number - 1860-266-9966
    • Write directly to Tata AIA Claim Departments
  • Q: What are the documents required while purchasing the policy?

    Ans: The following list of documents is required to purchase the policy:
    • Address proof
    • Identity Proof
    • Income Proof
  • Q: How many funds can I choose from the Tata AIA SSR plan?

    Ans: Under Tata AIA Sampoorna Raksha Plan, you can select from 11 funds i.e., ranging from equity to income, depending on your appetite.
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Tata AIA Life Smart Sampoorna Raksha Reviews & Ratings

4.2 / 5 (Based on 28 Reviews)
(Showing Newest 10 reviews)
Arya
Kanpur, March 10, 2021
Different companies
Last year when I bought a tata aia term plan I have found various good plans into the policybazaar website. Such a good place to plan a term plan. They helped me a lot to get the best term plan. Thanks.
Nikunj
Aranthangi, March 09, 2021
Stress-free process
I am happy that I have been a part of policybazaar and tata aia term plan. As their process is stress free and best. I really like the product which is been given by the policybazaar.
Vimal
Dwarka, January 23, 2019
Very Good
I have opened a Sampoorna Raksha+ plan with TATA AIA term insurance. I was not sure about the in-depth details of the plan and its benefits. I logged on to the Policybazaar website as I had seen many advertisements for the brand on TV. I entered my details on their website and one of their representatives contacted me. I had talked to other people too about the term insurance but the way Policybazaar executive explained the plan, was very simple and easy to understand. I was able to get all my confusions cleared beforehand and got the insurance policy opened. The documents involved were minimal and the process was also easy to follow. It took only 4 days to complete the process and I received my policy documents on my communication address as well as my email. All in all, I am really happy and satisfied with my experience with Policybazaar and Tata AIA.
Jaswant
Guwahati, October 18, 2016
Marvelous Insurance Plan
Having term insurance policy which is so beneficial and the investment is also low. Service provided is quick and on time. Online renewals are made so simple through online portal service. Policy coverage is good and claims are even better.
Yashvir
Gurgaon, September 27, 2016
TATA Term Policy
Got the tata aia term insurance policy in low budget and coverage is high as promised. Service given is very nice and staff member of the company available 24X7. Claiming is simple and renewals are done through online portals which is very good service.
Rahul
Dangar, July 27, 2016
Quality Investment
The term insurance plan i have is very perfect in all other policies. Maximum returns and many benefits. The 24X7 service of yours is the most attractive point which is very clam and nice behaviour of the staff. Renewals are simple to do through online portal service.
Vishu
Mirzapur, July 12, 2016
Term plan
My term insurance plan is an above average policy which comes in low premiums. Policy coverage is high and claims are high too. Service is fantastic and because of that the documentations become hassle free. Renewal is easy by online portal.
Lakshay
Bawal, June 30, 2016
Good
I bought a term insurance plan and the policy provide me many benefits like low premiums and returns are high. Service you gave is superb and policy coverage is good but the investment is less. My family is very happy with your services.
Nakul
Sant_kabir_nagar, April 21, 2016
slow service
The tata aia term plan has slow service issue. Policy coverage and claims are high with low investments. The executives and staff members behave well with the customers and providing nice outputs. The daily updates are mailed and texted to me regularly. It saves taxes.
Abhinav
Ooty, April 21, 2016
Nice Policy
Tata aia term policy plan is wonderful with huge benefits like low premiums and the policy coverage is high 91%. Claims are good and the payback amount is around Rs.40 L after the policy get mature. Internet services are great with easy interface and vast variety of policies are there with full descriptions. Good future investment with tax savings.
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