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Tata AIA Sampoorna Raksha Promise is a term insurance plan by Tata AIA Life Insurance that allows customers from varying backgrounds to secure their loved ones at affordable premiums. The plan not only provides long term cover (till 100 years of age) but also provides the option to transfer the sum assured as a legacy to your child on the survival of the policyholder with the Family Plan option. Let us take a look at some of the other features of this plan:
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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
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
Term Plans
Here is a list of conditions you need to qualify before buying this Tata AIA life insurance plan:
| Parameters | Minimum | Maximum |
| Entry Age | 18 years | 65 years |
| Maturity Age | 23 years | 100 years |
| Policy Term | 1.1 years | 82 years |
| Premium Payment Term | Regular/Limited/Single Premium Pay Term | |
| Basic Sum Assured | 25 Lacs | No Limit |
| Premium Payment Modes | Monthly/yearly/half-yearly | |
* You can use the term insurance calculator to check the applicable premiums for your profile.
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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
Here is a list of benefits you get by buying the Tata AIA Sampoorna Raksha Promise:
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
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.
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.
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.
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
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.
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.
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.
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.
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,
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.
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.
Under this program, the company offers several benefits, such as redemption benefits and service providers’ ecosystem.
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.
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
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+All savings provided by insurers as per IRDAI approved insurance plan. Standard T&C apply.
