TATA AIA Term Insurance

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About TATA AIA Term Insurance

TATA AIA, one of the renowned life insurance companies, is a joint venture between Tata Sons Pvt. Ltd. and AIA Group Ltd. It's one of the rapidly-growing companies in the life insurance sector and is ranked at no. 5 based on the individual weighted new business premium (IWNBP). The company offers protection through its multiple life insurance segments and term insurance is one of them. TATA AIA Term Insurance is a sort of disciplined financial planning to ensure the security and happiness of your family.

Features of TATA AIA Term Insurance Plan

Protecting your family's future after your demise is one of the best things you can do for them. With TATA AIA Term Insurance plans, ensure your family's safety and future happiness.

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

Secure your family's futureDiscounts on premium for women policyholders Discounts on premium for non-smokersDiscounts on premium rates for higher sum assuredTAX Benefits

Claim Settlement Ratio of TATA AIA Term Insurance

Buying Term Insurance is a major decision that you make in terms of investing money for the future. Thus, it is extremely important to choose the right company that is reliable and values its customers and their needs. As a potential buyer, you can evaluate a company's performance and its trustworthiness by analysing its Claim Settlement Ratio. As per IRDAI's Annual Report 2019-2020, the CSR of TATA AIA was 99.06 that shows the company has a good claim settlement capacity.

Let's compare TATA AIA's CSR with the top 5 term insurers in the graph below.

Claim Settlement Ratio of Top Term Insurance Companies (2019-20)

Claim Settlement Ratio of Top Term Insurance Companies

Types of TATA AIA Term Insurance Plans

With TATA AIA term insurance plans, you can build a strong foundation of financial security and stability for your family members in case of your unfortunate demise. Below is the list of such plans for your reference.

S.NoPlan NameWho Should Buy?
1.TATA AIA Life Insurance Sampoorna RakshaThis term plan is ideal for customers who want to enjoy the life cover for a longer term period and flexibility of selecting the death benefit option for their plan.
2.TATA AIA Life Insurance Sampoorna Raksha+This term insurance plan is the perfect choice for customers who want to get a return of premiums that are paid on survival till the maturity of the policy.
3.TATA AIA Life Insurance iRaksha TROPPeople who want to enjoy dual benefits of financial protection and a return of premium upon maturity consider investing in this plan.
4.TATA AIA Life Insurance Maha Raksha SupremeThis plan provides customers with plenty of choices to fulfil their family's financial needs in case of their unfortunate demise.
5.Tata AIA Life Insurance Saral Jeevan BimaThe plan is suitable for people who want to provide financial protection to their families with comprehensive coverage at an affordable cost.

Let's discuss the above listed plans in detail. Read below.

Tata AIA Term Insurance Banner
  1. TATA AIA Life Insurance Sampoorna Raksha

    TATA AIA Sampoorna Raksha is a non-linked, non-participating, individual life insurance plan that provides financial protection to your family in your absence. The plan offers flexibility to choose among 4 death benefit options.

    Key Features

    • The plan offers life insurance cover up to 85 years of age. The policyholder can also opt for a whole life insurance cover up to the age of 100.
    • The plan offers lower premium rates for female lives and non-smokers.
    • There are special discounts on premium rates provided to the policyholders if they opt for a higher sum assured amount.
    • One can avail of tax benefits as per the Income Tax Act, 1961.
    • Customers can enhance the coverage of their plan with the help of an optional rider.

    Eligibility Criteria

    CriteriaMinimumMaximum
    Entry age18 yearsRegular Pay:70 years
    Limited Pay-5: 70 years
    Limited Pay 10/12: 65 years
    Pay till age 60: 50 years
    Maturity age28 years85 years
    Whole Life cover- 100 years
    Sum insuredRs. 3,00,00,000No Limit
    Premium payment optionLimited Pay and Regular Pay
    Premium payment modeAnnual, half-yearly, quarterly, and monthly
  2. TATA AIA Life Insurance Sampoorna Raksha+

    TATA AIA Life Insurance Sampoorna Raksha+ not only protects your family from the uncertainties of life but also offers a return of premiums that are paid on survival till the maturity of the policy.

    Key Features

    • The plan provides coverage for the policy term period of up to 40 years, or till age 100 years.
    • Customers are provided with the flexibility of choosing between two death benefit options. These options include a lump sum on the death and lump sum on the death and monthly income of the next 10 years.
    • The plan offers an optional rider for enhanced protection.
    • The plan is available at lower premium rates for women and non-smokers. Grab a discount on opting for higher coverage.

    Eligibility Criteria

    CriteriaMinimumMaximum
    Entry age18 yearsRegular Pay & Limited Pay 5 year: 70 years
    Limited Pay 10 years & 12 years: 65 years
    Maturity age28 years100 years
    Sum insuredRs. 50,00,000No Limit
    Premium payment optionLimited Pay and Regular Pay
    Premium payment modeAnnual, half-yearly, quarterly, and monthly
  3. TATA AIA Life Insurance iRaksha TROP

    TATA AIA Life Insurance iRaksha TROP plan provides financial protection to your family and returns the total premiums paid at the end of the policy term.

    Key Features

    • Customers have the choice to choose among single, regular, or limited premium payment terms.
    • The plan comes with dual benefits of financial protection and returns of premium if the policyholder survives till maturity age.
    • There are special discounts provided to the customers opting for higher coverage.
    • Females can grab the benefit of lower premiums.

    Eligibility Criteria

    CriteriaMinimumMaximum
    Entry age18 yearsSingle, Regular & Limited Pay 5 year: 70 years
    Limited Pay 10 years: 65 years
    Maturity age-100 years
    Sum insuredRs. 50,00,000No Limit
    Premium payment optionLimited Pay, Single Pay, and Regular Pay
    Premium payment modeAnnual, half-yearly, quarterly, monthly, Single (for Single Pay)
  4. TATA AIA Life Insurance Maha Raksha Supreme

    TATA AIA Life Insurance Maha Raksha Supreme is a non-linked, non-participating, individual life insurance plan that offers you plenty of choices to fulfil your family's financial needs in case of your unfortunate demise.

    Key Features

    • The plan offers you the choice to pay only once for a limited period or throughout the policy term.
    • Grab an optional rider to enhance the overall coverage of the plan.
    • Take the benefit of Inbuilt Payout Accelerator, which gives a 50% advance of sum assured on the diagnosis of a terminal illness.
    • The plan provides life cover up to age 85 or the option for Whole Life coverage i.e. till 100 years of age.
    • Non-smokers can get standard premium rates while females can enjoy discounted rates.

    Eligibility Criteria

    CriteriaMinimumMaximum
    Entry age18 yearsSingle, Regular & Limited Pay 5 year: 70 years
    Limited Pay 10,12 years: 65 years
    Pay to age 60 years: 45 years
    Maturity ageNew whole life- 28 years
    Whole life- 100 years
    100 years
    Sum insuredRs. 50,00,000No Limit
    Premium payment optionLimited Pay, Single Pay, Regular Pay, Limited Pay- 10/12 and Limited Pay to Age 60
    Premium payment modeAnnual, half-yearly, quarterly, monthly, Single (for Single Pay)
  5. Tata AIA Life Insurance Saral Jeevan Bima

    Tata AIA Life Insurance Saral Jeevan Bima is a simple and pure protection insurance plan that is designed to provide financial protection to family members of the insured person at affordable rates.

    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

Compare Term Insurance Premiums of Top 5 Companies

It is said that one should choose the policy that covers the family's financial obligations after the death of the policyholder. However, the right decision is made by analysing multiple crucial factors such as age, money, cover, future needs of the family, and premium affordability. And of all these, the premium is the most considerable factor. It is prudent to opt for a product that is competitively priced and offers the best benefits and features.

For better understanding, we have created a table and graph representing the premium amount payable by a 30-year old non-smoker male for a policy term of 30 years and the sum assured of 1 crore. The table shows the premium comparison of different term insurance plans offered by top companies.

Term Insurance CompaniesPremium Payable
TATA AIA Maha Raksha Supreme10,738
Max Life Smart Term Plan10,008
SBI Life eShield9,400
HDFC Click 2 Protect Term Plan11,712
ICICI Prudential iProtect Smart Term Plan12,174

Sample Graph Illustration Of Premium Payable Under Top Term Insurance Plans

Sample Premium Illustration Top Term Insurance Plans

Claim Process of TATA AIA Term Insurance

TATA AIA Term Insurance offers an easy to understand claim process. After the death of the policyholder, the claimant needs to follow the below steps to get their claims settled.

1

Visit the official TATA AIA Life Insurance website.

2

Register for the claim by filling in all the necessary information

3

Submit all the required documents.

4

Once all the documents are verified, the company will process the claims and your claim amount will be disbursed.

How To Buy TATA AIA Term Insurance Plans?

Buying TATA AIA Term Insurance Plans is a simple and hassle-free process. The company sells two of its term insurance plans online and customers can easily purchase them from the company's website. These plans are Maha Raksha Supreme Plan and Sampoorna Raksha+ plan. The rest of the term insurance plans can be purchased by visiting the nearest branch of TATA AIA company.

In addition to this, TATA AIA Term Insurance plans can also be purchased from third-party intermediaries like insurance brokers or agents.

For your convenience, we've provided here the steps of buying the plans from the company website.

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.

FAQs

1. What are the premium payment options available for TATA AIA Term Plans?

The company provides customers with a variety of convenient options to make premium payments. The payment 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

Find Out What Customers Are Saying

(Showing latest 5 reviews only)

- 4.8/5 (4 Total Rating)

June 28, 2021

Kunal Sahni

Indore

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.

June 28, 2021

Vivek Kumar Sahni

Chennai

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 need of its customers.

November 5, 2015

Deepak Thakur

Other

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 throughout the process. I finally chose TATA AIA policy. Nice and supportive staff.

June 28, 2021

Kiran Tiku

Chandigarh

Received the claim amount without any hassles after my husband s death. So glad that my husband had brought TATA AIA Term insurance already for us.

Last updated on June 2021

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