Tata AIA ₹1 Crore Term Insurance Plan
Tata AIA is one of the leading life insurers with a market share of approximately 27% in the life insurance business. A Tata AIA ₹1 crore term insurance plan offers a sum assured of ₹1 crore to your family in case of your demise during the policy tenure. There are various term plans offered by Tata AIA, but only a few plans offer ₹1 crore coverage. The different Tata AIA ₹1 crore term plans include Tata AIA Maha Raksha Supreme, Tata AIA Sampoorna Raksha Promise Plan, and Tata AIA SRS Vitality Protect.
Buying a ₹1 crore Tata AIA term insurance offers many benefits, including financial security, tax benefits, affordable premiums, and high sum assured discounts.
₹1 Crore Term Plans By Tata AIA Life Insurance
Here are the term plans offered by Tata AIA Life Insurance that provide ₹1 crore coverage:
| Plan Name | Entry Age | Maturity Age | Policy Tenure | Unique Features |
|---|---|---|---|---|
| Tata AIA Sampoorna Raksha Promise Plan | 18 to 65 years | 100 years | Minimum: 1 year, Maximum: 84 years |
|
| Tata AIA Maha Raksha Supreme | 18 to 70 years | 80 years | Minimum: 10 years, Maximum: 40 years |
|
| Tata AIA SRS Vitality Protect | 18 to 65 years | 100 years | Minimum: 10 years, Maximum: 82 years |
|
₹1 Crore Term Insurance Tata AIA: Overview
Below is an overview of the ₹1 crore term insurance plans offered by Tata AIA for better clarity.
Tata AIA Sampoorna Raksha Promise Plan
Tata AIA Sampoorna Raksha Promise Plan is a ₹1 crore pure protection plan that offers financial protection to your loved ones in case of your demise during the policy term. This plan offers four variants for policyholders to choose from: Life Promise, Life Promise Plus, Joint Life Promise, and Joint Life Promise Plus.
Why Buy Sampoorna Raksha Promise Plan?
- Flexibility to choose a plan variant.
- Choice of death benefit payout options, including lump sum, regular payouts, or a combination of both.
- Instant payout (within 24 hours) upon claim intimation.
- Multiple premium payment options include monthly, quarterly, half-yearly, and yearly.
- Cover continuance benefit under joint life plan options.
Tata AIA Maha Raksha Supreme
Tata AIA Maha Raksha Supreme is a term insurance plan that allows you to increase the life cover at various stages of life, such as marriage, childbirth, etc. You also have the option to delay your premium payment by up to 12 months with the Flexi Pay benefit.
Why Buy Tata AIA Maha Raksha Supreme?
- Enhance your plan coverage with Education Secure to protect your child’s future.
- Waiver of premium if diagnosed with any critical illnesses mentioned in the policy brochure.
- Lower premiums for women policyholders.
- Option to renew your policy at maturity (applicable a maximum of 5 times).
- Cover continuance benefit under the joint life option.
Tata AIA SRS Vitality Protect Plan
Tata AIA SRS Vitality Protect Plan is a combination of the Sampoorna Raksha Promise Plan and Vitality Protect (a health rider). This plan offers built-in wellness programs, unlike many other term insurance plans. Policyholders are rewarded for maintaining a healthy lifestyle.
Why Buy Tata AIA SRS Vitality Protect Plan?
- Provides coverage against 40 critical illnesses, including cancer and cardiac conditions.
- Free health check-ups to help maintain a healthy lifestyle.
- Discounts on premiums.
- Terminal illness cover.
- Additional riders to enhance coverage.
Features of ₹1 Crore Tata AIA Term Plan
Here are the features of ₹1 crore Tata AIA term insurance plans:
-
Simple and Easy to Understand
A ₹1 crore term insurance plan is the simplest form of life insurance policy to secure your family’s financial future.
-
Choice of Rider Options
You can choose additional riders with your ₹1 crore term policy to enhance overall coverage. Tata AIA offers various rider options, including a waiver of premium rider, an accidental death benefit rider, and a critical illness rider.
-
Special Discounts for Women and Non-smokers
Women and non-smokers receive exclusive discounts on Tata AIA ₹1 crore term insurance premiums. This discount can be availed when purchasing a plan from the Tata AIA website or PolicyX.com.
-
Multiple Premium Payment Options
Tata AIA ₹1 crore term insurance plans offer multiple premium payment options, including monthly, quarterly, half-yearly, and yearly.
-
Affordable Premiums
Premiums for a Tata AIA ₹1 crore term insurance policy are affordable. You can buy a ₹1 crore term insurance from Tata AIA at monthly premiums starting from just ₹501.
Benefits of Tata AIA ₹1 Crore Term Plan
Tata AIA ₹1 crore term insurance offers multiple benefits to policyholders and their loved ones. Let's understand these benefits in detail:
-
Death Benefits
Tata AIA ₹1 crore term insurance offers ₹1 crore to your family in case of your unfortunate demise during the policy term. Your family can use this amount to cover their expenses and live a comfortable life.
-
Tax Benefits
Buying a Tata AIA ₹1 crore term insurance plan offers tax benefits of up to ₹1.5 lakhs annually under Section 80C of the Income Tax Act, 1961.
-
Peace of Mind
A ₹1 crore term insurance by Tata AIA offers peace of mind, ensuring your family's financial safety even in your absence.
-
Loan Coverage
If you have taken a loan to cover financial needs or emergencies, a ₹1 crore term insurance plan by Tata AIA ensures the loan amount does not become a burden for your family in your absence.
-
Financial Safety Net for Dependents
Tata AIA ₹1 crore term insurance acts as a financial safety net for your dependents, ensuring they can maintain a comfortable life even in your absence.
Documents Required to Buy a Tata AIA ₹1 Crore Term Plan
To buy a Tata AIA Life ₹1 crore term insurance, you need to provide certain documents as proof of identity, income, and residence. Below is the list of required documents.
| Types of Documents | Documents |
|---|---|
| Identity Proof (Any one of the following) | Passport, Voter ID, Aadhaar Card, PAN Card |
| Income Proof | If salaried: Last 3 months’ salary slips and bank statements showing salary credit. |
| If self-employed: Last 3 years' Income Tax Returns (ITR) with Computation of Income (COI). | |
| Address Proof (Any one of the following) | Water Bill, Telephone Bill, Aadhaar Card, Rent Agreement, Electricity Bill |
| Medical Proof | Latest medical test reports as requested by the insurer |
How to Buy Tata AIA Life ₹1 Crore Term Plan?
You can buy a Tata AIA ₹1 crore term insurance plan either from PolicyX.com or the insurer’s website.
Buying From PolicyX.com
- Visit the PolicyX website.
- Select your age, gender, city, annual income, name, and mobile number.
- Choose your date of birth, education qualification, occupation, and smoking habits. Then click on ‘Continue’.
- Choose your coverage amount as ₹1 crore and company as ‘Tata AIA Life Insurance’.
- The list of ₹1 crore Tata AIA term plans will be displayed on your screen.
- Choose a plan that best suits your needs and make the premium payment.
Once payment is made, you will receive the payment receipt shortly.
Buying From the Insurer’s Website
You can buy the Tata AIA ₹1 crore term insurance policy from their website or one of Tata AIA’s official branch offices.
Conclusion
In today’s fast-paced world, where inflation is reaching new heights, buying a ₹1 crore term insurance helps your dependents live a comfortable life in your absence. A ₹1 crore term plan by Tata AIA is an ideal choice for securing your family’s financial future. You can use the PolicyX.com term insurance calculator to calculate your premiums.
If you are still unsure which Tata AIA ₹1 crore term insurance plan is best, you can contact us at PolicyX.com or call us at 1800-420-0269.
We offer No Spam, No Gimmicks, Only Expert Insurance Advice.
Book a free call with a PolicyX expert
5-min consultation · No spam · No pushy sales
- Step 1 of 3
- Step 2 of 3
- Step 3 of 3
Term Insurance Companies
Compare term insurance policies with other top insurers in India.