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Tata AIA Term Plan

TATA AIA Life Insurance Company Limited (Tata AIA Life) is a joint venture company, formed by Tata Sons Pvt. Ltd. and AIA Group Ltd. (AIA). Tata AIA Life combines Tata's pre-eminent leadership position in India and AIA's presence as the largest, independent listed pan-Asian life insurance group in the world spanning 18 markets in the Asia Pacific region. Tata AIA life started its operations on April 1, 2001.

For the financial year 2020-21, the total premium income of Tata AIA Life increased to Rs. 11,105.09 crore, a growth of 34%. With a claim settlement ratio of 98.02% and varied term plans to choose from for the financial protection of your family, Tata AIA Life is amongst the most trusted insurers.

Who Should Buy TATA AIA Term Plans?

  • Young Individuals- Buying Term Insurance at a young age ensures that you can provide insurance coverage to your family at the earliest and for a greater number of years. 
  • Parents- Parents in a family or at least one of them is generally the breadwinner of the family and the rest of the members depend on them for financial and educational support. Term insurance equips parents to secure the future of the dependents in case of a disability or demise. 
  • Newly wedded couples- If you have taken the steps towards marital life it is necessary to consider the safety and security of your spouse. A term life insurance can take care of many financial liabilities when needed. 
  • Professional working women- A working woman has many responsibilities like financially supporting their old parents, managing expenses, a new business venture, or a wedding. In the absence of the woman, the sum assured of a term plan can enable the bereaved family financially. 
  • Investors- As an investor, you need to pay regular monthly amounts of money towards your investments which will grow and can be used for various purposes in the future. However, if something happens to you, these investments and financial benefits will stop. Buying term insurance will secure your family's future.
  • Retired Individuals- Term insurance for a retired person can be beneficial, especially if they have dependent family members. Term policy benefits are also like an inheritance that the retiree leaves behind.

Why TATA AIA Term Plans?

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.

Read along to explore the features of TATA AIA Term Insurance Plans:

1 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.

2 Availability of Riders

As Age Grows Term Insurance Premium Also Increases
Premium: Rs.900/month
Age: 25

To enhance your 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.

3 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.

4 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.

5 Covers COVID-19

Life is unpredictable, and this stands true when we look out at the current situation of this pandemic hovering over our heads. Fortunately, IRDAI has now made it mandatory for every insurance provider to cover the deaths due to the COVID-19, which means, in case of your death due to COVID, TATA AIA Term plans will pay your nominee the sum assured.

Benefits of TATA AIA Term Insurance Plans

TATA term insurance provides a multitude of advantages to its customer and a few of the benefits are given below:

Secure your family's futureDiscounts on premium for women policyholdersDiscounts on premium for non-smokersDiscount on premium rates for higher sum assured

Claim Settlement Ratio of TATA AIA Term Insurance

Claim settlement ratio is one of the important factors that you should consider while deciding on the insurance provider to buy a term life insurance plan. Claim settlement ratio (CSR) is the % of claims that an insurance provider settles in a year out of the total claims. It acts as an indicator of their credibility. As a general rule, the higher the ratio, the more reliable the insurer is.

As per IRDA's Annual Report 2020-21, the Claim Settlement Ratio of TATA AIA was 98.02%.

Comparison between TATA AIA and other top insurance companies based on claim settlement ratio

Comparison between TATA AIA and other top insurance companies based on claim settlement ratio

Different TATA AIA Term Insurance Plans Available

S.no Tata Term Plan Name Plan Highlights
1. TATA AIA Life Sampoorna Raksha Supreme  Multiple payment options, lower premium rates for women, Death benefit payout, maturity benefits and more.
2. Insta Protect Solution Comprehensive coverage, Express Insurance, Affordable Premiums, Flexibility to choose policy term and payment term and more.
3. Tata AIA Life Saral Jeevan Bima This TATA AIA term plan is suitable for people who want to provide financial protection to their families with comprehensive coverage at an affordable cost. 

To understand which plan is best for you and your family PolicyX has further simplified and provided a breakdown of the benefits and of the above mentioned Term Plans. Please scroll below to read.

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  1. Tata AIA Life Insurance Sampoorna Raksha Supreme

    Tata AIA Life Insurance Sampoorna Raksha Supreme plan is a non-linked non- participating individual life insurance plan ensuring a safe financial future for your family, especially in your absence. Tata AIA Life Insurance Sampoorna Raksha Supreme is a comprehensive term life insurance plan that offers you flexible plan options to secure your family's financial future.

    Key Features

    • Under this plan, you can avail of whole life coverage up to 100 years of age*.
    • With a range of rider options, you can be covered against critical illness, accidental death, etc., under this plan.
    • This plan allows you to choose between Single Pay, Limited Pay and Regular Pay as well as flexible premium payment modes.
    • The plan comes with a feature known as "The Life Stage Option benefit" that lets you increase your insurance cover by 25%, 50% or 100%, in accordance with the requirement during a certain life stage.
    • you can opt for a lump sum payout or a regular income of up to 60 months or a combination of both options.
    • The rider option under this plan enables you to uphold the policy and waives off future premiums while keeping the policy in effect.

    TATA AIA Life Insurance Sampoorna Raksha Supreme has further provided plans to cater to each individual's requirements.

    • Life Option

      This is a pure risk variant wherein the customer chooses the Base sum assured at the time of purchase.

      Eligibility Criteria

      Plan Option Min age at entry Max age at entry Age at Maturity Premium Payment Mode Premium Payment Term (PPT)- Minimum Premium Payment Term (PPT)- Maximum
      Life (POS) 18 years 60 years 65 years Annual, Quarterly, Half yearly, Monthly, Single Regular Pay- 60 months, Limited Pay- 60 months Regular Pay- 564 months, Limited Pay- 563 months
      Life (non-POS) 18 years 65 years 100 years Annual, Quarterly, Half yearly, Monthly, Single Regular Pay- 13 months, Limited Pay- 13 months Regular Pay- 984 months, Limited Pay- 983 months
    • Life Plus Option

      This is a protection oriented variant wherein the customer chooses the Base Sum Assured at the time of purchase subject to underwriting eligibility.

      Eligibility Criteria

      Plan Option Min age at entry Max age at entry Age at Maturity Premium Payment Mode Premium Payment Term (PPT)- Minimum Premium Payment Term (PPT)- Maximum
      Life Plus (POS) 18 years 55 years 65 years Annual, Quarterly, Half yearly, Monthly, Single Regular Pay- 120 months, Limited Pay- 60 months Regular Pay- 480 months, Limited Pay- 479 months
      Life Plus (non-POS<) 18 years 65 years 100 years Annual, Quarterly, Half yearly, Monthly, Single Regular Pay- 120 months, Limited Pay- 60 months Regular Pay- 480 months, Limited Pay- 479 months
    • Life Income

      This option provides for the Death Benet along with the regular monthly income.

      Eligibility Criteria

      Plan Option Min age at entry Max age at entry Age at Maturity Premium Payment Mode Premium Payment Term (PPT)- Minimum Premium Payment Term (PPT)- Maximum
      Life Income (non-POS ) 30 years 50 years 100 years Annual, Quarterly, Half yearly, Monthly, Single Regular Pay- N/A
      Limited Pay- 60 months
      Regular Pay- N/A
      Limited Pay- 120 months
    • Credit Protection

      This is a pure risk variant wherein the policyholder chooses the Base SA at the time of purchase subject to underwriting eligibility

      Eligibility Criteria

      Plan Option Min age at entry Max age at entry Age at Maturity Premium Payment Mode Premium Payment Term (PPT)- Minimum Premium Payment Term (PPT)- Maximum
      Credit Protect (POS) 18 years 60 years 65 years Annual, Quarterly, Half yearly, Monthly, Single Regular Pay- 60 months, Limited Pay- 60 months Regular Pay- 360 months, Limited Pay- 359 months
      Credit Protect (non-POS) 18 years 65 years 100 years Annual, Quarterly, Half yearly, Monthly, Single Regular Pay- 60 months, Limited Pay- 13 months Regular Pay- 360 months, Limited Pay- 359 months

    Tata AIA Life Insurance Sampoorna Raksha Supreme and its flexible plan options are designed to help you meet your insurance needs. At each life stage, regardless of one's gender, occupation, age, etc. It also gives you the option to enhance your cover with the following riders.

    Tata AIA Life Insurance Non-Linked Comprehensive Protection Rider

    • Additional coverage against unforeseen events like accidental death, accidental disability, critical illnesses including cancer and cardiac conditions, and terminal illnesses, and more.
    • Option to extend the rider coverage to protect your loved ones under the same plan. Option to receive the balance premiums on maturity.

    Tata AIA Life Insurance Non-Linked Comprehensive Health Rider

    • 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.
    • Coverage against major ailments as well as major and minor illnesses or injuries along with multiple claim payouts.
    • Flexible choice of benefit payout as a lump sum, monthly income for 10 years, or lump sum and income for a fixed period.
  2. Insta Protect Solution

    InstaProtect is a comprehensive solution that provides financial protection to you and your family. This Smart Solution combines the benefit of a life cover along with critical illness, hospitalization expenses, accidental death, total and permanent disability, and more.

    Key Features

    • Criticare plus benefit- Under Criticare Plus Benefit, you will be entitled for lumpsum payout# on the first diagnosis of any of the specified 40 critical illnesses or undergoing any covered procedures. Hence, this benefit provides comprehensive coverage against multiple illnesses, including cancer and cardiac.
    • Hospicare benefit- Hospicare Benefit option will pay out# a per day hospitalization benefit of 0.5% of the sum assured. And if you are admitted to the Intensive Care Unit (ICU), an additional 0.5% of the sum assured will be paid out.
    • Accidental Total and permanent disability benefit- In case of an unfortunate event of a total and permanent disability due to an accident, a lump sum will be paid# which can help you cover the treatment expenses, and expenses to modify your home/vehicle, loss of income, etc.
    • Accidental death benefit- This feature pays out an additional lump sum to your family in case of death due to an accident.

    Eligibility Criteria

    Criteria Minimum Maximum
    Entry Age 18 Years 45 Years
    Maximum Age 23 Years 75 Years
  3. Tata AIA Life Insurance Saral Jeevan Bima

    Tata AIA Life Insurance Saral Jeevan Bima provides financial protection to family members of the insured person.

    Key Features

    • Customers have the flexibility to choose policy term and premium paying term at their convenience.
    • Female customers can avail the benefit of lower premium rates.
    • The plan also comes with optional riders to provide comprehensive protection.

    Eligibility Criteria

    CriteriaMinimumMaximum
    Entry age18 years65 years
    Maturity age-70 years
    Sum insuredRs. 50,00,000Rs 49,50,000 with the limit reviewable as per Board approved underwriting policy
    Premium payment optionLimited Pay, Single Pay, and Regular Pay
    Premium payment modeSingle, Annual, Half-yearly, Monthly

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:

  • Step 1- Visit the official website of TATA AIA
  • Step 2- Click on “But Term Plan” on the navigation panel
  • Step 3- Fill in your details required such as name, email address and number on the form provided.
  • Step 4- Enter the OTP received on your registered mobile number and Email ID
  • Step 5- Enter details such as gender, smoker-non smoker, date of birth, annual income, education qualification, and profession, and click on "Continue"
  • Step 6- Check Policy and premium details
  • Step 7 - Pay the premium online
Buying Process TATA AIA Term Insurance Plans

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

1

Visit the official website of TATA AIA

2

Register your claim by uploading all the necessary documents for verification

3

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.
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TATA AIA Term Plans: FAQs

1. What are the premium payment options available for TATA AIA Term Plans (TATA AIG term plans)?

The company provides customers with a variety of convenient options to make premium payments. The payment for the TATA AIA term life insurance plans (TATA AIG term life insurance) can be made through:

  • Online payment through Net banking /Credit Cards/Debit Cards/Paytm/Wallets etc.
  • At all Tata AIA Life Insurance Company Ltd. branches locations
  • Mobile apps - PAYTM, HDFC PAYZAPP, JIO MONEY & Amazon Pay
  • Payment through Bank site using 'Bill Pay'
  • 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
  • Cancelled cheque
  • Death certificate
  • Proof of legal title to the claim proceeds
  • Cause of death – 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. Is TATA AIA Life Insurance Sampoorna Raksha Supreme a pure term plan?

Tata AIA Life Insurance Sampoorna Raksha Supreme has four plan options, out of which the Life Option and the Credit Protect Option are pure term plans while the Life Plus Option and the Life Income Option offer return of premiums and a regular income option respectively, subject to terms and conditions.

12. What are some major features of Samporna Raksha Supreme?

  • Choice of different death benefit options from Life Option, Life Plus Option, Life Income Option, and Credit Protect Option
  • Whole life coverage up to 100 years of age
  • Life Stage Option to increase the sum assured at critical stages of life
  • Inbuilt Payor Accelerator to receive 50% of the sum assured in case of a terminal illness diagnosis
  • Option to avail medical second opinion/medical consultation/ personal medical case management
  • Choice to receive death benefit payout as a lump sum, regular income or lump sum + regular income
  • Choice of the policy term and premium paying term
  • Ability to choose from a list of unique riders for coverage enhancement
  • Lower premium rates for female policyholders
  • Tax benefits~ as per applicable tax laws

13. How many plan options come under sampoorn raksha supreme?

  • Life Option - pure risk cover with a death benefit
  • Life Plus Option - protection-oriented cover with a death benefit + return of premium on maturity)
  • Life Income Option - pure risk cover with a death benefit + survival benefits as a regular income benefit during the policy term
  • Credit Protect Option - pure risk cover with a death benefit in line with the outstanding loan amount

14. What is the inbuilt payor accelerator benefit of this plan?

Under the Inbuilt Payor Accelerator Benefit, a pre-defined percentage of the sum assured is paid out to the policyholder on the confirmed diagnosis of terminal illnesses. The benefit paid out under this feature is a part of the base/effective sum assured, and the payout reduces the sum assured of the plan. Upon payment, the policy will continue with the reduced sum assured and applicable premiums.

Find Out What Customers Are Saying

(Showing latest 5 reviews only)

- 4.9/5 (16 Total Rating)

February 24, 2022

mohit khanna

Madurai

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 furture

February 18, 2022

anu

Delhi

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

Vridhi Singh

Pune

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

Kanika Chaudhary

Delhi

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

Ravi Dhingra

Lukhnow

Happy with the services of the company, Full satisfied. The customer care team helps its customers very patiently and nicely.

Last updated on August, 2021

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