Tata AIA Sampoorna Raksha Promise

Key Features of the Tata AIA Sampoorna Raksha Promise

Here is a list of key features that you need to know about this Tata AIA term insurance plan:

• Choose the most suitable plan option from 4 plan options 

• Option to choose whole life cover 

• 50% base sum assured is provided as an accelerated payout on the diagnosis of a terminal illness

• Choose from the Tata AIA Sampoorna Raksha Promise Shubh Shakti or Shubh Rakshak variants illness

• The plan has an in-built waiver of premium benefit on the diagnosis of a terminal illness

• You get the option to cover your spouse within the same plan

• Choose to receive the payout as a lump sum or in installments 

• Option to defer premium payments by up to 12 months with the FlexiPay benefits

• The plan offers an instant payout on claim intimation

• Get up to 15% lower premiums for female customers

• Enhance the base cover with additional riders

• Choose to transfer the legacy sum assured to your child with the plan’s Family Plan option

Eligibility Conditions of Tata AIA Sampoorna Raksha Promise

Here is a list of conditions you need to qualify before buying this Tata AIA life insurance plan:

* You can use the term insurance calculator to check the applicable premiums for your profile.

Plan Options Offered with Tata AIA Sampoorna Raksha Promise

The 4 different plan options offered under this Tata AIA term insurance plan:

• Life Promise Option

• Life Promise Plus Option

• Joint Life Promise Option

• Joint Life Promise Plus Option

Benefits of Tata AIA Sampoorna Raksha Promise

Here is a list of benefits you get by buying the Tata AIA Sampoorna Raksha Promise:

1. Death Benefits:

   The highest of the following will be paid out to the nominee of the policy:

   • 1.25 x Single Premium (excluding discount) or DB multiple1 x Annualised Premium2 (excluding discount)

   • 105% of Total Premiums Paid (excluding loading for modal premiums and discount) up to the date of death; or

   • An absolute amount assured to be paid on death

2. Maturity Benefits

   This type of life insurance pays an amount equal to 100% of the premiums paid will be paid to the policyholder at the time of the maturity of the policy.

3. Flexible Payout Option

   The policyholder gets the option to choose the payout benefit to be paid as a lump sum or as regular installments paid in monthly, quarterly, half-yearly, or yearly modes.

New Variants Under Tata AIA Sampoorna Raksha Promise

The new variants launched for customers under Tata AIA Sampoorna Raksha Promise are as follows:

Tata AIA Sampoorna Raksha Promise – Shubh Shakti

The Tata AIA Sampoorna Raksha Promise – Shubh Shakti is for female customers and offers the following benefits :

• The variant mandatorily offers OPD Plus benefits worth Rs. 64,000 per year for 2 members (cashless or reimbursement). 

• The Premium Holiday during Pregnancy is a free of cost benefit that offers the option to defer or delay premium payments by 12 months while keeping the plan cover active.

• The Child Education Protect is an optional benefit that provides fixed income benefit for up to 2 children till they turn 21 or 25 years of age.

• Another optional benefits are Waiver of Premium on Husband’s Accidental Death that waives off all the remaining premiums in case of the husband’s accidental death.

Tata AIA Sampoorna Raksha Promise – Shubh Rakshak

The Tata AIA Sampoorna Raksha Promise – Shubh Rakshak variant is for male customers and offers the mandatory benefit of OPD Plus worth ₹64,100/year for 2 members. 

Additional Benefits of Tata AIA Sampoorna Raksha Promise

1. Cover Enhancement Options

   • Life Stage

     Under this option, the policyholder gets the option to increase the sum assured with the changing and evolving needs at different stages of life. You can increase the sum assured by 50% on marriage, by 25% on the birth or adoption of the 1st and 2nd child, and by 100% on home loan disbursal.

   • Top-up Sum Assured

     Under the top-up sum assured option, the policyholder can opt to increase the sum assured of the policy by a fixed percentage ranging between 5% to 20% of the base sum assured at any policy anniversary by paying an additional premium. This option can only be exercised for premium payment terms of at least 5 years. 

2. Renewability Upon Maturity

   This plan offers the option of extending the policy term at the maturity of the policy. However, you can exercise this option a total of 5 times in exchange for additional premiums for the extended tenure. The additional premiums will be charged as follows:

   • Attained age at the time of maturity

   • The chosen increase in policy term

3. Cover Continuation Option

   In joint life cover options, on the death of either of the two life assured, the surviving partner gets the option of continuing the policy as a single premium policy. The premium applicable at that point will depend on the surviving partner’s age at the time.

4. Accidental Death Benefit

   This feature is only applicable in Joint life policies, and in case of the simultaneous deaths of both the life assured due to an accident, the death benefit along with the Base sum assured will be payable to the nominee.

5. Flexi Pay Benefits

   With this option, the policyholder can choose to defer the premium payments by up to 12 months from the date of due premium payments without worrying about policy lapse. This is a free-of-cost feature, and in case of a claim during this period, the unpaid premiums will be deducted from the death benefit.

6. Premium Payment Modes

   You can choose to pay the premiums in a single, annual, monthly, quarterly, or half-yearly mode. You can also use the Tata AIA term insurance premium calculator to check the premiums applicable to your profile.

7. Instant Payout on Claim Intimations

   In case of the policyholder’s death after the waiting period of 3 years (from the date of policy purchase or policy revival) but during the policy term, 

8. Family Plan Option

   While regular term insurance does not offer any legacy amount on survival, the family plan option of this plan allows you to transfer the sum assured to his/her child on survival, provided that the policy is still in force.

9. Health Management Services

   The health management services offer a second opinion from the service providers affiliated with the Tata AIA Life insurance company. To avail these services, the policyholder must be eligible, and the policy must still be in-force.

10. Loyalty Program 

    Under this program, the company offers several benefits, such as redemption benefits and service providers’ ecosystem.

Riders Offered Under Tata AIA Sampoorna Raksha Promise

Here are the riders available with the Tata AIA Sampoorna Raksha Promise plan:

• Tata AIA Life Insurance Non-Linked Comprehensive Protection Rider

• Tata AIA Life Insurance Non-Linked Comprehensive Health Rider

• Tata AIA Vitality Protect

• Tata AIA Vitality Health

* These riders can be attached at the time of buying the policy or at the time of the policy anniversary.

Exclusions Under Tata AIA Sampoorna Raksha Promise

Death due to Suicide within the 12 months of Policy Purchase

• The nominee will be entitled to receive 80% on the total premiums paid till the point of the policyholder’s death. 

• In the Family Plan option, after the payment of the suicide claim no additional payout will be made, and the policy will terminate.

How to Buy Tata AIA Term Insurance Plan from Policybazaar? 

Here is how you can buy the Tata AIA Sampoorna Raksha Promise online from Policybazaar:

Step 1: Visit the term insurance page of Policybazaar

Step 2: Fill in the required details like name, gender, contact information, and more

Step 3: Select the right options like smoking habits, occupation types, educational background, and annual income

Step 4: Choose the Tata AIA Sampoorna Raksha Promise plan and proceed to pay

Note: You should also check the term insurance benefits if you are planning to purchase the term insurance plan.

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