Tata AIA 50 Lakh Term Insurance
  • 50 Lakh Coverage
  • Multiple Customisation Options
  • Premiums Start @360/- Per Month
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Himanshu Kumar
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Himanshu

Himanshu Kumar

Term & Life Insurance

Himanshu is a content marketer with 2 years of experience in the life insurance sector. His motto is to make life insurance topics simple and easy to understand yet one level deeper for our readers.

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Reviewed By:
Anchita Bhattacharyya

Anchita Bhattacharyya

Health, Term & Life Insurance

Anchita has over 6 years of experience in content marketing, insurance, and healthcare sectors. Her motto to make health and term insurance simple for our readers has proven to make insurance lingos simple and easy to understand by our readers.

What is the Tata AIA 50 Lakh Term Insurance Plan?

Tata AIA 50 lakh term insurance plan offers a sum assured of Rs 50 lakhs to your family in case of your unfortunate demise during the policy duration. You can buy a 50 lakh term plan at a monthly premium that is less than the cost of a good pizza. There are various term insurance plans offered by Tata AIA Life Insurance, but only a few plans offer coverage of Rs 50 lakhs. These plans include Sampoorna Raksha Promise, Maha Raksha Supreme, SRS Vitality Protect Plan, and Insta Protect Plan.

Opting for a 50 lakh term insurance by Tata AIA helps your family fulfil their financial obligations without any worries. We have provided the details of 50 lakh term insurance plans by Tata AIA so that you can choose the best plan.

Tata AIA 50 Lakh Term Insurance Plans

We have provided a list of the term insurance plans offered by Tata AIA Life Insurance that offer Rs 50 lakhs coverage to the policyholders. You can compare and choose the plan that best suits your requirements with the help of the PolicyX Term Insurance Calculator.

Plan NameEntry AgeMaturity AgePolicy TenureUnique Features
Tata AIA Sampoorna Raksha Promise18 to 65 years100 yearsMinimum- 1 year  Maximum- 84 years
  • Choice of Plan Options
  • Instant Payment on Claim Intimation
  • Whole Life Coverage Option
Tata AIA Maha Raksha Supreme18 to 70 years80 yearsMinimum- 10 years  Maximum- 40 years
  • Payout Accelerator Benefit
  • Life Stage Plus Option
  • Special Rates for Non-smokers and Women
Tata AIA SRS Vitality Protect18 to 65 years100 yearsMinimum- 10 years  Maximum- 82 years
  • Terminal Illness Cover
  • Free Health Check-up
  • Wellness Programs
Tata AIA Insta Protect Plan18 to 45 years75 yearsMinimum- 5 years  Maximum- 50 years
  • Hospitalization Benefit
  • Accidental Death Benefit
  • Cancer Protection

How Does Tata AIA 50 Lakh Term Insurance Work?

Tata AIA 50 lakhs term insurance is a pure term insurance plan that offers a sum assured of Rs 50 lakhs to the policyholder’s loved ones in case of the policyholder’s unfortunate demise. Let’s understand how a 50 lakh term insurance plan offered by Tata AIA works with a simple illustration table.

Ramesh is a 30-year-old working in a private company, is looking for a 50-lakh term insurance to secure his family’s financial future. So he visited PolicyX.com and compared various 50 lakh term plans and chose Tata AIA Sampoorna Raksha Promise. 

Policyholder’s AgeAnnual PremiumsPolicy TenurePremium Payment TenureTotal Premiums PaidSum Assured
30 yearsRs 14,33140 years40 yearsRs 5,73,240Rs 50 lakhs

Key Takeaways

  • In case of Ramesh’s demise during the policy tenure, his family would receive Rs 50 lakhs as sum assured to cover their financial needs.
  • If he survives the policy tenure, no death benefits would be paid, and the policy will lapse on the maturity date.

Features of Tata AIA 50 Lakh Term Plan

We have provided the features of the Tata AIA 50 lakh term insurance plan below to help you understand it better.

  • Easy to Understand

    A 50 lakh term insurance policy by Tata AIA is simple and easy to understand for the policyholders. It is the most affordable form of life insurance that you can buy to safeguard your family’s financial future.
  • Flexible Policy Tenure

    Tata AIA 50 lakh term insurance plan allows flexibility to choose the policy tenure that best matches your future financial goals.
  • Choice of Premium Payment Mode

    There are different payment modes offered by Tata AIA Life Insurance to make the premium payment, including one-time, monthly, quarterly, half-yearly, and yearly. You can choose the one that best suits your budget.
  • Long Term Coverage

    Tata AIA 50 lakh term insurance policies allow policyholders to opt for long-term coverage up to 100 years of age.
  • Choice of Riders

    You have the option to choose additional riders with your Tata AIA 50 lakh term insurance plan as per your requirement. There are various rider options available, including an accidental death benefit rider, a critical illness rider, a waiver of premium rider, etc.
  • Special Premiums for Females and Non-Smokers

    Tata AIA 50 lakh term insurance policy offers a special discount on premium to female policyholders and non-smokers.

What are the Benefits of Tata AIA 50 Lakh Term Insurance?

Buying a 50 lakh term insurance policy offers various benefits, including death benefits, financial protection, debt coverage, etc. Let’s understand these benefits in detail.

  • Financial Coverage

    A 50 lakh term insurance plan by Tata AIA offers a 50 lakh sum assured to your loved ones in case of your uncertain death during the policy tenure. They can use the amount to fulfil their financial obligations and future goals.
  • Tax Benefits

    You can avail of tax benefits up to Rs 1.5 lakhs on the premiums paid for the 50 lakh term insurance plan under Section 80 (C) of the Income Tax Act, 1961.
  • Affordable Premiums

    The premiums of a 50 lakh term insurance by Tata AIA are very affordable. You can buy a 50 lakh Tata AIA term insurance at monthly premiums starting at just Rs 360/- per month.
  • Multiple Customisation Options

    Tata AIA 50 lakh term insurance offers multiple customisation options to the policyholders, such as choice of additional riders, flexible payment options, etc.
  • Loan Protection

    A 50 lakh term insurance by Tata AIA ensures that the loan taken by the policyholders does not become a burden for their family members.
  • Peace of Mind

    Tata AIA 50 lakh term insurance offers peace of mind knowing that your family is financially safe even when you are not with them.

How to Buy Tata AIA 50 Lakh Term Insurance?

To buy a Tata AIA 50 lakh term insurance, you can either visit PolicyX.com, Tata AIA’s official website, or one of their nearest branch offices.

Buying From PolicyX.com

Step 1: Visit the official website of PolicyX.com.

Step 2: Select your age, gender, city, annual income, name, and mobile number.

Step 3: Choose your date of birth, education qualification, occupation, and smoking habits. Then click on ‘Continue’.

Step 4: Choose your coverage amount as 50 lakhs and the company as ‘Tata AIA Life Insurance’.

Step 5: The list of 50 lakh Tata AIA term plans will be displayed on your screen.

Step 6: Choose a plan that best suits your needs and make the premium payment.

Once payment is made, you will shortly receive the payment receipt. 

Buying From Tata AIA

You can buy a Tata AIA 50 lakhs term insurance from Tata AIA’s website or by visiting one of their nearest branch offices.

Documents Required to Buy A Tata AIA 50 Lakhs Term Plan

Buying a 50 lakh term insurance from Tata AIA Life Insurance requires several documents such as identity proof, address proof, income proof, etc. We have provided a list of documents required to buy a Tata AIA 50 lakh term insurance policy.

Types of DocumentsDocuments
Identity Proof (Any one)Passport, Voter ID, Aadhaar Card, PAN Card
Income ProofIf salaried - Last 3 months’ salary slips and bank statements having salary credit information.
If self-employed, the last 3 years with the Computation of Income (COI).
Address Proof (Any one)Water Bill, Telephone Bill, Aadhaar Card, Rent Agreement, Electricity Bill
Medical ProofThe latest medical test reports allocated by the insurer

Conclusion

A 50 lakh term insurance by Tata AIA Life Insurance is the best investment you can make to protect your loved ones financially in your absence. It offers a range of benefits, including affordable premiums, multiple customisation options, financial protection, tax benefits, and a lot more. You can use the PolicyX term insurance calculator to calculate your premiums.

If you are still wondering about which Tata AIA 50 lakh term plan is best, you can visit PolicyX.com or contact our expert advisors at 1800-420-0269.

We offer No Spam, No Gimmicks, Only Expert Insurance Advice.

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FAQs: Tata AIA 50 Lakh Term Insurance

1. Is it safe to invest in TATA AIA?

Yes, it’s safe to invest in a Tata AIA as it is one of the leading life insurance companies with a claims settlement ratio of 99.13% as per the IRDAI report 2023-24.

2. Can I cancel my TATA AIA term insurance?

Yes, you can cancel your Tata AIA term insurance plan by contacting their customer support.

3. What is the claim settlement ratio for TATA AIA term insurance?

The claim settlement ratio for TATA AIA term insurance is 99.13% as per the IRDAI report 2023-24.

4. Which is better, LIC or TATA AIA?

Both Tata AIA and LIC are good term insurance companies. While LIC offers low-cost term plans with minimum customisation, Tata AIA offers more customisation options.

5. What is the minimum age to apply for Tata AIA 50 lakh term insurance?

The minimum age to apply for Tata AIA 50 lakh term insurance is 18 years.

6. Can I add critical illness cover to Tata AIA’s 50 lakh term plan?

Yes, you have the option to add a critical illness rider to the Tata AIA 50 lakh term insurance plan.

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Himanshu Kumar

Written By: Himanshu Kumar

Himanshu is a seasoned content writer specializing in keeping readers engaged with the insurance industry, term and life insurance developments, etc. With an experience of 2 years in insurance and HR tech, Himanshu simplifies the insurance information and it is completely visible in his content pieces. He believes in making the content understandable to any common man.