Tata AIA Life Smart Sampoorna Raksha

Tata AIA Life Smart Sapoorna Raksha is a unit-linked and non-participating individual life insurance plan that helps fulfill all your long-term objectives such as a child's higher education, retirement planning. It also protects your life milestones with the right life cover in case of any unfortunate event during the policy term. A protection and savings plan provides you an option to invest in several funds and also keeps you invested for the long run by refunding the 2 times the premium allocation charges and mortality charges along with the cover continuous boosters.

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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?

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  • 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

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Key Features of Tata AIA Life Smart Sampoorna Raksha 

Here’s a quick laydown of the features of Tata AIA Life Smart Sampoorna Raksha: 

  • 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 or adequate life cover 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 10,11, 12, and 13th years of the policy. 
  • You can choose to pay a regular or limited premium of 5, 10, and 12 years. 

Eligibility Criteria of Tata AIA Life Smart Sampoorna Raksha

Parameters 

Minimum 

Maximum 

Entry Age 

18 years 

60 years 

Maturity Age

48 years 

100 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 

10 times of the annualized premium 

No limit 

Frequency of paying the premium 

Annual/Half-yearly/Quarterly/Monthly

Premium 

For Limited pay of 5 years - Rs. 60,000

For Others - Rs. 18,000

For Top-up premium Rs. 5000/top-up

Benefits of Tata AIA Life Smart Sampoorna Raksha 

Tata AIA Life Smart Sampoona Raksha offers 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 
    • Policy’s regular premium fund value 
    • 105% of the complete regular premiums payable 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 payable up to the death date 

    The partial withdrawals specified in the above cases can also be made during the last two years of the policy instantly before the death date of the life assured. 

  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 Top-up premium is payable to the nominee or legal heir. 

  3. Refund of 2 Times of 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 returned along with the fund value. 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 Two Times of the Premium Allocation Charges 

    After the 10th, 11th, 12th, and 13th years of the policy, 2 times of the premium allocation charges deducted 10 years before shall be refunded in the form of the addition of units. 

  5. Cover Continuous Booster 

    These funds are added to the fund value in the form of the addition of units. During the credit time, if the fund value descends below the estimated levels for the continuation of the policy, the insurers add units to it to keep the policy in force. These types of conditions occur when there is a substantial fall in the market and the fund value also drops considerably. 

  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 as per the prevailing laws 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

    3

    5 year onwards

    -

  2. Policy Administration Charges 

    This charge of 0.41% per year of annualized premium from the 5th year of policy is deducted from your funds at the starting of every 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

    Super Select Equity Fund 

    1.20

    India Consumption Fund 

    1.20

    Large Cap Equity Fund 

    1.20

    Top 50 Fund 

    1.20

    Whole Life Mid-cap Equity Fund 

    1.20

    Top 200 fund 

    1.20

    Whole life Aggressive Growth Fund 

    1.10

    Whole Life Income Fund 

    0.80

    Whole Life Short Term Fixed Income Fund 

    0.65

    Whole Life Stable Growth Fund

    1.00

    *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 with a charge of Rs.100 per switch. 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 (%)

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

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. 

Rider Benefits 

  1. Tata AIA Life Insurance-Linked Comprehensive Protection Rider 

    This rider provides financial coverage against any unforeseen events such as disability, death due to accident, or the diagnosis of critical or terminal illnesses. 

  2. Tata AIA Life Insurance-Linked Comprehensive Health Rider - 

    This rider provides coverage in case of disability, hospitalization, or major and minor illnesses or injuries. Rider also provides the option to receive the benefit: 

    • Lump-sum +  income for a fixed time 
    • Lump-sum 
    • Monthly income for 10 years 

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 the policy 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 this plan. 

  4. Switching of Funds 

    The policyholder can switch the investment fund option from one to other 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 5 years time of purchasing the policy, the fund value is transferred to the discontinuous policy fund and credited to the life assured after 5 policy years. 

    Revival Period - All the discontinued policies have a revival period of 3 years from the date of 1st un-paid premiums. 

Sample Premium Illustration 

The below table illustrates the maturity benefit for a 35 year healthy-non-smoker individual with the 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. 24,96,680

Rs. 40,22,575

Rs. 9,03,428

Maturity Benefit @ 4% 

Rs. 4,21,716

Rs. 9,03,428

Rs. 12,52,324

*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

Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Average Rating
(Based on 28 Reviews)
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Tata AIA Life Smart Sampoorna Raksha Reviews & Ratings

4.2 / 5 (Based on 28 Reviews)
(Showing Newest 25 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.
Raghav
Agartala, April 21, 2016
Great Service
My tata aia term insurance policy plan is wonderful with huge benefits like low premiums and the policy coverage is high 89%. Claims are are good and the payback amount is around Rs.38 L after the policy get mature. Internet services are great with easy interface and vast variety of policies are there with full descriptions. Daily update are mailed to me.
Harindra
Bageshwar, April 21, 2016
Below Average
The term policy plan i have is not as i expected. The policy coverage is 69% and the claims are less. The premiums are 22 K twice a year. Services are fast and the behaviour of the executives and staff members are good. Some improvement needed in the web site. Manageable policy plan.
Gautam
Kadipur, April 21, 2016
High Returns In Low Premium
My term insurance policy plan is with tata aia life insurance. The policy coverage is high and the claims are high too. Claims are easily sanctioned because of fast services provided by the executives. Fantastic policy plan which provides good terms and conditions.
Fabian
Pune, April 21, 2016
Awesome Policy
I purchase tata aia life insurance term policy plan. The policy plan is an average one but the premiums are low with good policy coverage ~89%. This is an online policy plan, easy to buy. The plan has 5% less on premiums for women. Premiums and claims are free from taxes.
Mayank
Dahiwadi, April 21, 2016
Super Policy
I have term insurance policy plan from tata aia life insurance. Policy coverage is good and the premiums are low approx. 32 K. Claiming is easy and the waiting time is very less due to fast and on time services from executives and the staff members. Nice work.
Waqar
Rampur, April 21, 2016
Poor Policy
My policy is not good because the service is slow, the policy coverage is less, Claims are not enough, premiums are high, not provided help when needed by the staff members not in the company or either on the call. Not satisfied with this policy.
Ojasvi
Krishnagiri, April 21, 2016
Trustworthy
Got term insurance policy plan with tata aia life insurance. The policy plan is above average and the premiums are low. Policy coverage and the claims are high with high payback returns. Services provided by you guys is appreciable with good behaviour of your staff members and the extra good treatment provided by the executives is very nice.
Dhruba
Yamunanagar, April 21, 2016
Fantastic Plan
The term insurance policy plan i have is tata aia life insurance. The policy coverage is high with high claiming amount. The premiums are low and the payback returns are approx. rs.41 L. The service provided by the executives and the staff members is good with nice behaviour.
Gautam
Dungargarh, April 21, 2016
Best Plan
Great term insurance policy plan i got from tata aia life insurance. They has good speed and responsive for any query and for any help. Policy coverage is 88% and the claims are good with easy claiming process. The investment is good and it saves taxes also.
Jiten
Sultanpur, April 21, 2016
Happy With Services
I have term insurance policy plan from tata aia life insurance. The policy is good and the premiums are very less. The best investment and the taxes are also saved. Policy coverage and claims are good and the services are super fast. I really like my policy plan.
Karan
Lonavla, April 21, 2016
Damn Good
Tata aia life insurance is one of the best insurer for term insurance policy plan. The policy coverage is 92% and the claims are good even the the claiming procedure is easy because the service provided by the company members are good and even the web services are even better. The premiums are low and for women get 5% less extra benefits on premiums. My future is secure.
Sandeep
Ponda, April 21, 2016
Wonderful
Policy coverage is less around 78% and the premiums are low around 25 K twice a year. Service are good and always on time till now. The claims are cleared easily due to quick response from the executives and staff members. Please improve your policy coverage for better performance.
Rahul
Kundra, April 21, 2016
Awesome
The term policy plan i have is not as i expected. The policy coverage is 68% and the claims are less. The premiums are 27 K twice a year. Services are fast and the behaviour of the executives and staff members are good. Some improvement needed in the web site. Good tax saving benefit.
Ishant
Panipat, April 21, 2016
Really Good
Tata aia life insurance is one of the perfect insurance providers, i took term insurance policy plan from them. The policy is good in service and it can be buy online also. The web service is awesome and 5% less for women on premiums. Policy coverage and the claims are high. Due to online facility, it reduces the paper work and the waiting part is erased. It saves taxes also.
Akash
Gurgaon, April 21, 2016
Fair Policy
My term insurance policy plan is with tata aia life insurance. The policy coverage is high ~88% and the claims are approx. 36 L after policy get mature. Claims are easily sanctioned because of fast services provided by the executives. Fantastic policy plan which provides good terms and conditions.
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