Tata AIA Shubh Family Protect

Key Features of Tata AIA Shubh Family Protect Term Plan

• Tata AIA Shubh Family Protect provides financial protection to your family in the event of your unfortunate demise

• With this term insurance plan, you can get an early payout on terminal illness diagnosis and waiver of remaining premiums

• You can choose from single, limited, or regular pay options as per your convenience

• Select the most suitable death benefit payout frequency from annual, half-yearly, quarterly, or monthly installments

• You can choose income tenures from 10 to 30 years (only in multiples of 5) to ensure financial support in the form of income for your family.

Benefits of Tata AIA Shubh Family Protect Term Insurance

Let us take a look at the benefits offered by this term insurance for family in India:

Financial Security for Family

This Tata AIA Shubh Family Protect term plan provides financial protection to your family in your absence by paying a lump sum death benefit along with a fixed income for the selected income tenure as well. 

Terminal Illness Benefit

The Payor Accelerator benefit, or the terminal illness benefit, pays 50% of the sum assured on a terminal illness diagnosis of the policyholder. Not only that, but the insurer also waives all the remaining premiums, and keeps the policy active. 

Lump Sum Payout on Death

This Tata AIA term insurance plan offers immediate financial help to your grieving family members in your absence that can help them cover any outstanding debts, funeral costs, or medical bills.

Regular Income for Family

The plan pays a regular income to your family in your absence. You can choose the income tenure for up to 30 years and the preferred payout options like annual, monthly, half-yearly, and quarterly. 

Tax Benefits

You can claim term insurance tax benefits as per the prevailing tax laws on the premiums paid under section 80C of the Income Tax Act, 1961. Also, the death benefit paid to your family in your absence is completely tax-free under Section 10(10D) as well.

Eligibility Conditions for Tata AIA Shubh Family Protect

How Does Tata AIA Shubh Family Protect Work?

Tata AIA Shubh Family Protect is designed to make sure your loved ones remain financially secure, even if life takes an unexpected turn. You pay premiums regularly for the chosen policy term, and in return, the plan promises dependable support for your family if the life insured passes away during the term. When a term insurance claim is verified, the nominee receives the benefits in two parts:

• Immediate lump sum payout
  Your family gets an upfront lump sum amount to take care of urgent financial needs. This can help with ongoing loan repayments, household expenses, medical bills, or any other immediate responsibilities during a deeply difficult time.

• Guaranteed fixed income for the selected period
  Beyond the one-time payout, the plan continues to support your family through a steady income stream for the duration you choose, up to 30 years. This ensures regular cash flow for day-to-day living, children’s education, and long-term financial commitments.

Families can choose how they want to receive this income, monthly, quarterly, half-yearly, or annually, making the plan flexible enough to match different financial habits and needs.

When Should You Buy Tata AIA Life Shubh Family Protect?

Tata AIA Shubh Family Protect is designed to support your family’s financial security across different stages of life. You may consider buying this term life insurance plan under the following circumstances:

Early Career
If you are just starting your professional journey, this is an ideal time to secure essential life cover at competitive premiums. You can opt for up to ₹1 crore term insurance while keeping your long-term financial commitments manageable.

During Marriage
As you begin a new chapter with your spouse, the plan helps you build a strong financial foundation. The combination of an immediate lump-sum benefit and long-term income makes it easier for your partner to manage expenses and maintain stability in your absence.

When Starting a Family
With growing responsibilities, ensuring your children’s education, lifestyle, and future security becomes a priority. The plan provides your family with an income for up to 30 years, offering dependable support for day-to-day needs and long-term goals.

If You Have an Ongoing Loan
Outstanding loans can become a burden on your family if something unexpected happens. The immediate lump-sum benefit helps settle large liabilities, while the regular income ensures your family can continue managing monthly expenses without stress.

Mid-Career
Even if you decide to buy the plan later, it continues to offer competitive premiums and solid financial protection. It acts as a reliable safety net for your dependents during your peak responsibility years.

When Diagnosed With a Terminal Illness
The plan includes a terminal illness benefit that pays 50% of the sum assured and waives all future premiums. This provides meaningful financial support during challenging times while ensuring that your family continues to stay protected for the remainder of the policy term.

Who Should Consider Buying Tata AIA Shubh Family Protect?

Tata AIA Shubh Family Protect is designed for individuals who want comprehensive financial security along with flexible benefits. The following categories of people may find this plan particularly suitable:

• Young Professionals
  Young earners can secure long-term protection at competitive premiums by purchasing this plan early in their careers. It supports growing responsibilities and provides financial stability for the future.

• Graduates and Above
  As this term insurance plan is available only to graduates and above, it offers a structured and reliable financial safeguard that aligns with the goals of individuals who meet this eligibility.

• Salaried Individuals
  Those with a steady monthly income can benefit from an exclusive 8.5% discount on the first-year premium, making the plan more accessible while ensuring adequate life cover.

• Female Policyholders
  Women receive 15% lower premiums throughout the entire policy term, allowing them to secure robust protection at more attractive rates.

• Parents with Young Children
  The plan offers regular income for up to 30 years, helping ensure that children’s education and day-to-day needs are taken care of even in the policyholder’s absence.

• Individuals with Ongoing Loans
  The immediate lump-sum benefit of 45.45% of the sum assured can help clear outstanding loans, preventing financial strain on the family and safeguarding their assets.

• Sole Earning Members
  With a balanced combination of lump-sum and long-term income benefits, sole earners can ensure that their family’s lifestyle, essential needs, and monthly expenses remain uninterrupted.

What are Some Things to Consider Before Buying Tata AIA Shubh Family Protect?

Before you choose Tata AIA Shubh Family Protect, it is important to review a few key factors to ensure the plan truly fits your needs and long-term goals. This helps you make an informed, confident decision for your family’s financial security.

Age Eligibility
The plan is specifically designed for individuals aged 36 to 45 years. Before applying for the plan, confirm that you fall within this eligible age range.

Educational Qualification
Tata AIA Shubh Family Protect is available only to applicants who are graduates or above. You should make sure you meet this requirement to avoid any issues during underwriting.

Coverage Amount
Select a coverage amount that reflects your family’s long-term lifestyle needs and financial responsibilities. Consider future goals, children's education, household expenses, and any existing liabilities such as home, car, or personal loans. The right coverage should act as a meaningful safety net.

Financial Dependents
Think about the people who rely on your income, your spouse, children, or dependent parents. The plan should act as a strong income replacement in your absence, ensuring your loved ones can continue meeting their financial needs without disruption.