TATA AIA Term Insurance offers an ideal solution to those who wish to secure the financial future of their family in their absence. With 3 different term plans, TATA AIA ensures to provide extensive coverage at an affordable price.
With several benefits and features, TATA AIA Term plans look after the financial needs of your loved ones after you. The company has PAN India presence and is always available to assist you with your queries.
Continue reading to explore more about TATA AIA Term Insurance.
Key Features of TATA AIA Term Insurance
Annual Premium: As per the IRDAI report 2020-21, TATA AIA Term Insurance recorded an annual premium of Rs. 11,105.09 Crores.
Solvency Ratio: The solvency ratio of the company helps an individual ascertain the company's ability to meet its long-term financial obligations. As per the IRDAI, it is mandatory for every life insurer to maintain a solvency ratio of 1.5. The Solvency Ratio of TATA AIA Term Insurance company for 2020-21 is 2.05.
Claim Settlement Ratio: Claim Settlement Ratio helps the policyholder to analyze the company's claim settling ability. As per the IRDAI Annual Report of 2020-21, TATA AIA Term Insurance holds a good and reliable claim settling process with a CSR of 98.02%.
All You Need To Know About TATA AIA Term Insurance? Find complete details in one go!
Everyone wants to make sure that their loved ones have a comfortable life and a secure future. Most of us thrive to provide joy, comfort, and security to our family members making sure they are never short of financial resources. Read more to understand the key benefits of buying Term Insurance.
Invest Early and Pay Low Premiums The golden rule for buying a term plan is to buy it as early as you can, because the earlier you buy a term plan, the less will be the premium. The term plans offered by TATA AIA let you invest as soon as you turn 18.
Availability of Riders: To enhance yours and your family's overall protection, TATA AIA term insurance plans allow you to add several riders to your basic term plan. These riders help you avail of additional coverage for your family members against the uncertainties of life.
Multiple Premium Payment Option: To make premium payment convenient for you, these plans let you choose your premium payment option. The options available are Limited Pay, Single Pay, and Regular Pay.
Flexible Payout Option: With TATA AIA Term Insurance plans, you have the flexibility to choose how your family will receive the sum assured. The pay-out can be in the form of a lump sum, a monthly or annual income, or a combination of lump sum and income as per the needs.
Special Rates for Females & Non-Smokers: TATA Term Insurance offers discounts on premiums for women policyholders. Not only this, but to encourage a healthy lifestyle, the company also offers special premium rates for non-smokers.
TATA AIA Term Insurance Plans
Take a look at the below section to understand the different term plans offered by TATA AIA. For your understanding, we have mentioned TATA AIA term plans along with some of their unique features. Scroll below to read.
Tata AIA Life Insurance Sampoorna Raksha Supreme
Sampoorna Raksha Supreme is a comprehensive plan that comes with a "The Life Stage Option benefit" under which you increase insurance cover in accordance with the requirement during a certain life stag.
Get a 105% Return on Premium
Whole life coverage
Avail Online Medical E-consultation
TATA AIA Insta Protect Solution
InstaProtect is a comprehensive solution that provides financial protection to your family by combining the life coverage with critical illness, hospitalization expenses, accidental death and more.
Quick issuance of policy
Return of Premium in maturity
Coverage for 40 critical illnesses
Tata AIA Life Insurance Saral Jeevan Bima
TATA AIA Saral Jeevan Bima is a simple and affordable insurance plan that protects your family financially. The plan allows you to enhance your protection with the help of optional riders.
Tata AIA Life Insurance Non-Linked Comprehensive Protection Rider
The rider offers additional coverage against unforeseen events like accidental death, accidental disability, critical illnesses including cancer and cardiac conditions, terminal illnesses, and more. Along with this, the rider also allows you to extend the rider coverage to protect your loved ones under the same plan.
Tata AIA Life Insurance Non-Linked Comprehensive Health Rider
Under this rider, one can avail of additional coverage against different risks such as hospitalization, accidental disability and critical illnesses like cancer and cardiac arrests at minor and major stages, and more. Also, the rider offers coverage against major ailments as well as major and minor illnesses or injuries along with multiple claim payouts.
How to buy TATA AIA Term Plans?
The insurers sell two-term plans online and you can purchase them easily from their official website. The two plans are TATA AIA LIFE Insurance Sampoorna Raksha Supreme and a newly launched plan TATA AIA LIFE Insurance Insta protect solution.
We have provided a clear breakdown to help you navigate the buying process easily:
Visit the official website of TATA AIA.
Click on "Buy Term Plan" on the navigation panel.
Fill in your details required such as name, email address and number on the form provided.
Enter the OTP received on your registered mobile number and Email ID.
Enter details such as gender, smoker-non smoker, date of birth, annual income, education qualification, and profession, and click on "Continue".
Check policy and premium details.
Pay the premium online.
After making the payment, the company will send a soft copy of the policy to the registered email address of the customer.
How to Register a Claim Online?
All claim settlements are the topmost priority for any insurance provider. To claim a policy only these are the steps one needs to follow for a smooth process
Visit the official website of TATA AIA
Register your claim by uploading all the necessary documents for verification
Once all the documents are verified by the insurer, the claim will be processed and the claim amount will be disbursed.
TATA AIA has commenced two new initiatives to make the claim process smoother. Read below to know more about the same:
Easy claim doorstep service -Easy Claim Initiative provides convenient claim service at your doorstep. The Beneficiary can call our helpline to schedule an appointment.
Express claim 4-hour settlement-Express Claims service, a unique service initiative, the Beneficiary can submit the necessary documents with TATA AIA agent who will initiate the claim process and ensure that the claim amount is received within 4 hours.
Payment to company's banking partner - State Bank of India/ Axis Bank /IndusInd Bank
Payment at the Retail Outlets (Suvidhaa, Andhra Pradesh Online, Common Service Centres)
Online Standing Instruction through Credit Card, Visa Master, and American Express card.
Contacting the customer care number of the company
2. How can I track information about my policy?
Customers have a variety of options available for tracking their policy status. Given below are some of these methods-
Visiting the 'Quick Links' page or 'Customer Service' page available at the company page.
Contact at the Customer Support WhatsApp number- 7045669966. (Just type 'Hi' at this number and you will be guided with the menu options)
Write SMS on 5676799 from your registered mobile number.
Speak with the customer support team at 1860 266 9966.
Download the UBIQC app and avail online services like pay premium, download statements, policy documents, get all the policy-related information.
3. Does being a smoker affect my term insurance premium amount?
Yes. If you are a smoker, you have to pay a higher premium amount than a non-smoker.
4. Can the premium amount change after some time?
No, one can't change a term plan's specifications after buying it. However, if required, one can opt for a plan that has an increasing or decreasing sum assured.
5. What are the documents required to file a death claim?
Photo identification proof
Current address proof
Proof of legal title to the claim proceeds
Cause of death â€“ related document
6. Is it possible to change the beneficiary of the tata aia term plan?
Yes, you can change the beneficiary of the tata aia term plan during the tenure of the policy.
7. Can I cancel the tata aia term insurance plan after it has been issued?
Tata aia term plan offers 30 days free look period to cancel your policy and the premium paid will be refunded.
8. What happens if I don't pay my premiums on time?
Tata aia term insurance offers a grace period of 30 days in which you can pay your premium. If the premium is not paid during the grace period, your insurance policy will lapse, and you will have two years to revive it.
9. Do tata aia term insurance plan offer maturity benefits?
No, Tata AIA Term Insurance plan does not offer maturity benefits. You can choose the Term Insurance with Return of Premium (TROP) Plan in which you can get back the premiums paid on term insurance.
10. Is it possible to purchase term insurance for my spouse or child?
You can buy term insurance for yourself but you cannot buy a term insurance plan for your spouse or children. If your spouse is employed, he or she can buy it for themselves. You can make them the nominee of your policy for receiving the death benefits.
11. What are the types of plans introduced by the company TATA AIA?
TATA AIA Sampoorna Raksha Supreme
TATA AIA Maha Raksha Supreme
Saral Jeevan Bima
TATA AIA Smart Sampoorna Raksha
TATA AIA Insta Protection Solution
12. What is the Claim Settlement ratio of TATA AIA Term Insurance Plan?
The Claim Settlement Ratio of TATA AIA Term Insurance plan 98.53% .
13. What is the flexible payment mode of TATA AIA Term Insurance?
The mode of payments of TATA AIA Term Insurance plans are: yearly, half-yearly, quarterly, and monthly.
14. Documents required for claim settlement online in TATA AIA term insurance plan?
Documents required for online claim settlement are:
Submission of claim Documents
Claim Settlement decision and Payments.
15. What if we want to cancel the TATA AIA Term Insurance Plan?
The Policyholder must first fill the surrender form and then attach the relevant documents at the nearest branch. After going through the documents the company will transfer the amount in the policyholder's bank account. And the policy will be cancelled forever.
Tata AIA Term Insurance Reviews
Read what our customers have to say about Tata AIA term insurance company
February 24, 2022
I have a home loan, a 4 year daughter, old mother and wife. I am a salaried person and always worried about future saving for them. TATA gave me a good cheap plan that fulfills my wishes for fu...
February 18, 2022
My husband passed away and I felt stuck but then when i contacted the company they helped me without giving me any issues.
October 5, 2021
It is a very good company. Not only it looks after the customers needs but also is always available whenever the customer has any queries
September 21, 2021
If you are looking to buy a Term Life insurance policy, go for Tata aia Insurance company. their customer support team is very supportive and very helpful.
September 16, 2021
Happy with the services of the company, Full satisfied. The customer care team helps its customers very patiently and nicely.
June 28, 2021
TATA AIA offers a wide range of life insurance products. I have bought two life insurance plans from the company, and I am happy about my decision.
Vivek Kumar Sahni
June 28, 2021
One of the best thing I have bought for my family. I have this assurance that in my absence my family s dreams would be fulfilled without any roadblocks.
Thank you TATA AIA for supporting every...
November 5, 2015
I visited this portal after the advice of one of my friends. While comparing i got a bit confused regarding which plan to chose. Got a call from their custoemr support team who guided me throug...
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