TATA AIA Life Insurance Param Rakshak Plus 2.0

What is Tata AIA Life Insurance- Param Rakshak Plus 2.0?

Param Raksha Plus 2.0 is not a single, standalone product. It's a combination plan that bundles together two individually available TATA AIA products:

TATA AIA Smart Sampoorna Raksha Supreme: A Unit Linked, Non-Participating Individual Life Insurance Plan (ULIP)

TATA AIA Health Buddy: A Non-Linked, Non-Participating Individual Health Product

These two products can also be purchased separately, but when combined under Param Raksha Plus 2.0, they offer a single integrated solution: market-linked life cover and wealth creation from the ULIP side, plus critical illness cover, HospiCash, and OPD benefits from the health side — with the added option of getting the Health Buddy premiums refunded at maturity.

In simple terms: it's designed for someone who wants life insurance, health protection, and a wellness program working together under one policy, rather than managing them separately.

Key Features of TATA AIA Life Insurance Param Rakshak Plus 2.0

Here is a list of all the key features of TATA AIA life smart sampoorna raksha param rakshak plus

• Top-rated funds:The plan offers a total of 11 fund options from which policyholders can choose their suitable risk profile

• Critical illness cover with a 30-year premium guarantee, covering over 60 critical illnesses with customizable combinations

• HospiCash Benefit : Daily cash payouts for each day of hospitalization, to help manage out-of-pocket medical expenses

• Dual-Life OPD cover : Outpatient coverage (doctor visits, diagnostics, prescribed medication) for two family members under a single plan

• High life cover to safeguard your family's financial future

• Accidental Death Protection: Additional sum assured on accidental death, doubled in case of death in public transport or other specified circumstances

• Accidental Total & Permanent Disability cover: Extra payout for accidental disability, doubled under specified circumstances

• Health Buddy Wellness Program: Access to health coaching, diagnostics, and treatment support

• Return of Premium option : Get back all Health Buddy premiums paid, in addition to the total fund value, at the end of the policy term

• 0% GST on individual life insurance policies

• Tax savings up to ₹46,800 on premiums paid under Section 80C

• Unlimited free fund switches to realign your investments with your financial goals or market conditions

Eligibility Criteria of TATA AIA Life Insurance Param Rakshak Plus 2.0

Let us see the eligibility conditions of this TATA AIA life insurance plan:

Benefits of TATA AIA Smart Sampoorna Raksha - Param Rakshak Plus 2.0

Life Cover & Wealth Creation

The plan provides high life cover to protect your family financially, along with exposure to top-rated, Morningstar-rated funds that have historically outperformed their benchmarks. Policyholders get unlimited free fund switches, allowing continuous realignment of investments as goals or market conditions change.

Critical Illness Protection

Covers over 60 critical illnesses, backed by a 30-year premium guarantee- meaning the premium for this benefit doesn't change over that period, offering long-term cost predictability. Coverage combinations can be customized based on individual needs.

HospiCash Benefit

Provides a daily cash payout for every day spent in the hospital, helping offset costs not typically covered by a standard health insurance reimbursement plan such as transportation, attendant costs, or loss of income during recovery.

Dual-Life OPD Cover

Covers outpatient expenses like doctor consultations, diagnostic tests, and prescribed medicines for two family members under a single plan, adding everyday healthcare value beyond hospitalization-only coverage.

Accidental Death & Disability Protection

Pays an additional sum assured to the family in case of accidental death, with the benefit doubling if the death occurs due to an accident in public transport or other specified circumstances. A similar additional payout and doubling structure applies for accidental total and permanent disability.

Health Buddy Wellness Program

Gives policyholders access to health coaching, diagnosis and treatment support, and other wellness services aimed at supporting long-term health management rather than only reacting to illness or hospitalization.

Return of Premium (Health Buddy)

At the end of the policy term, in addition to receiving the total fund value as the maturity benefit, policyholders also get back all the Health Buddy premiums paid over the policy term — combining growth potential with a guaranteed refund on the health component.

Tax and Cost Advantages

• 0% GST on individual life insurance policies

• Tax savings up to ₹46,800 available on premiums paid under Section 80C (subject to prevailing tax laws and the tax regime chosen)

Inbuilt Riders of TATA AIA Smart Sampoorna Raksha - Param Rakshak Plus 2.0

There are four inbuilt riders in the plan, and they are as follows:

• Accidental Death Benefit
  Provides an additional sum assured in case of accidental death. The benefit doubles if the accident occurs while traveling on public transport.

• CritiCare Plus Rider
  The plan offers comprehensive coverage against 60+ Critical illnesses. Choose between Mega Critical Illness (CI) and Select Critical Illness (CI) coverage for broader protection against a wide range of major and minor illnesses.

Accidental Total and Permanent Disability Rider
Offers financial support in the event of total and permanent disability caused by an accident. A double benefit is payable if the disability results from an accident on public transport.

• Hospicash Benefit Rider
  Receive a daily cash allowance for every day of hospitalization. For ICU stays, the benefit is doubled, helping manage out-of-pocket medical expenses while enjoying guaranteed premiums for 20 years.

Policy Details of the TATA AIA Smart Sampoorna Raksha - Param Rakshak Plus 2.0

• Grace Period
  The grace period for the monthly premium payments will be 15 days and for the quarterly, bi-annual, and annual premium payments will be 30 days.

• Policy Switches
  The policyholder can switch and transfer between funds for free for a maximum of 12 times each policy year. This allows the policyholders to maximize their savings and returns.

• Revival Period
  A revival period of 3 years starting from the date of the first unpaid premium will be provided for policyholders to revive their lapsed policies.

• Free-look Period
  The policyholders can go through the policy documents and return the plan if unsatisfied with the policy’s T&Cs within the free-look period of 30 days for policies purchased online.

• Policy Loan
  There is no policy loan allowed under the plan.

Exclusions

In case the policyholder dies during the first 12 months of policy purchase or policy revival, the Fund or Policy Account Value will be payable to the nominee. Along with that, any other charges excluding FMC (Fund Management Charges) will also be paid back.

Note: Check all the best term insurance plan in India.

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

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