TATA AIA Saral Jeevan Bima
  • 2 Rider Options
  • Affordable Plan
  • Death Benefit
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TATA AIA Saral Jeevan Bima Plan

TATA AIA Saral Jeevan Bima is a non-linked, non-participating pure protection plan. The plan is designed with simple terms and conditions, it is affordable and accessible to even the lower-earning group of the society. It offers a fixed premium and flexible payment terms, covering individuals up to the age of 70. The policy focuses primarily only on death benefits and does not provide Saral Jeevan Bima was introduced by IRDAI in the year 2021 as a standardized plan that may serve every individual in the country regardless of the income bracket they fall in. The plan offers consistent terms across insurance and offers coverage from 5 Lakh to 25 Lakh. The plan has many key features that are mentioned below which make this plan a good option for basic coverage:

  • Uncomplicated and affordable pure protection plan
  • The plan offers flexibility to choose policy terms and premium payment term
  • Discounts for females and non-smokers
  • Enhance protection with optional riders
  • Tax Benefits as per section 80(c) of the Income Tax Act.

Eligibility Table of Saral Jeevan Bima

The insured must fulfil the following eligibility criteria to take the full advantage of TATA AIA Saral Jeevan Bima:

Plan Parameters

Minimum

Maximum
Age At Entry 18 65

Max Age Maturity

70 Years
Policy Term (PT) (Years) Min: 5 years
Max: 40 years, subject to max maturity age as mentioned above
Premium Payment Mode Single/Annual/ Half-Yearly/ Monthly (only with ECS/NACH)

Basic Sum Assured

Rs 5,00,000

INR 49,50,000 with the limit reviewable as per Board approval underwriting policy

Benefits of TATA AIA Saral Jeevan Bima

The plan offers decent plan benefits that are sufficient to meet the insured essential needs. The plan benefits are mentioned below:

  • Death Benefit Options

     TATA AIA Saral Jeevan Bima provides a lump sum amount to the nominee in case of death of the insured during the policy term. The plan comes with 2 Death Benefit payout options i.e. Regular Pay and Limited Pay.The plan offers death benefits a maximum of up to 10 x Annualized Premium.
    OR
    105% of the Basic Sum Assured

  • Non-smoker Discounts

     The company offers rewards for maintaining healthy lifestyle, hence discounts are applicable for non-smokers.

  • Policy Cancellation Value (PCV)

     This is   the amount paid back to the insured in case he cancels the policy, after paying these charges the policy shall terminate. Here are the payout options with their return:
    • Regular Pay- In this case the policy cancellation value is zero
    • Limited Pay- If the policyholder goes for limited pay the plan is eligible for PCV provided at least two consecutive full-year payment has been paid.
    • Single Pay- The plan offers PCV for single pay, provided that the insured opts for it at the time of policy commencement.

  • Riders

     TATA AIA Saral Jeevan Bima offers additional benefits in the name of TATA AIA Life Insurance Non-Linked Comprehensive Protection Riders and these are :
    • Accidental Death Benefit (ADB)
    • Accidental Total and Permanent Disability Benefit

  • Flexible Premium Payment Mode

     The premiums can be paid as a single payment, annually, half-yearly, or monthly as decided at the time of policy commencement. Premium loading is applied for different payment modes.

  • Revival

     The policy can be reinstated within 5 years after the due date of the first unpaid premium and before the date of maturity.

Exclusions of TATA AIA Saral Jeevan Bima

The plan does not cover the following:

  • Policy Loan

     The plan has no policy loan options which means the insured can not apply for a loan against this policy.

  • Suicide

     There is a 1 year waiting period for suicide. The policy shall be void if the policyholder commits suicide during this time period.

  • Surender Value

     No surrender benefit is available under this plan. If you wish to drop the plan in the middle of the policy term, you won't get any payout from the company and the plan will terminate.

  • Maturity

     No maturity benefit is payable under this plan. Even if you outlive the policy term, paying all the premiums on time, the plan will offer no payout after expiration.

  • Survival Benefit

     There is no survival benefit payable under this plan.

Premium Table

Let us have a look at the premium table to get an idea of the premium the policyholder has to pay

Policy Term

Sum Assured

Gender

Premium Amount
40 10,00,000 Male 5,088
40 10,00,000 Female 4325
40 25,00,000 Male 11,725
40 10,00,000 Female 9,9975

Conclusion

TATA AIA Saral Jeevan Bima is a basic pure protection plan that provides financial protection to your family in case of your sudden demise. It offers flexibility in premium payment and policy terms. The plan also offers additional riders to enhance the coverage. It is essential to understand the terms and conditions before buying the plan. Generally, this plan offers coverage to the individuals who lie under the lower earning group.

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.

Comprehensive Plan

Tata AIA Life Insurance Sampoorna Raksha Supreme

The plan offers various life coverage options, including Whole Life coverage up to age 100, and the added benefit of the Credit Protect option.

Unique Features

  • Low premiums for women
  • Life cover up to 100 years
  • 24x7 online medical consultation

Sampoorna Raksha Supreme (Pros)

  • 2 Premium Payout Options
  • 2 Rider Option
  • Top-Up Sum Assured

Sampoorna Raksha Supreme (Cons)

  • No Loans Allowed
  • Only 1% Discount on Installment
  • No Suicide Cover in Terminal Illness

Sampoorna Raksha Supreme (Other Benefits)

  • Non-Forfeiture Benefit
  • Survival and Maturity Benefit
  • Payor Accelerator Benefit advances 50% SA

Sampoorna Raksha Supreme (Eligibility Criteria)

  • Entry Age - 18 years
  • Max Entry Age - 60 years(POS)
  • Minimum Sum Assured - 1 L
  • Maximum Maturity Age - NA
  • Premium Payment Term - LP/RP/SP

Critical Illness Plan

TATA AIA Insta Protect Solution

This is a comprehensive plan that provides financial protection by combining life coverage with critical illness, accidental death and more.

Unique Features

  • Lump Sum Benefit
  • Payor Accelerator Benefit
  • Surrender Value Offered

Insta Protect Solution (Pros)

  • Covers Death Due to Accident
  • No Medical Tests
  • Accelerated Terminal Illness

Insta Protect Solution (Cons)

  • No Loans Allowed
  • No Maturity Benefit
  • No Suicide Cover in Terminal Illness

Insta Protect Solution (Other Benefits)

  • Return of Premiums (Optional)
  • Survival and Maturity Benefit
  • Health and Wellness Benefits

Insta Protect Solution (Eligibility Criteria)

  • Entry Age - 18 years
  • Max Entry Age - 45 years
  • Minimum Sum Assured - 25 L
  • Maximum Maturity Age - 75 Yrs
  • Premium Payment Term - LP/RP/SP

Comprehensive Plan

Tata AIA SRS Vitality Protect

An all-inclusive plan that comes with mental and physical wellness features, discount on premium, early rewards and high sum assured of 2 crores.

Unique Features

  • Life Coverage With Term Booster
  • Wellness Based Discount
  • Rider Sum Assured Boosters

SRS Vitality Protect (Pros)

  • 10% Guaranteed Discount
  • Wellness Rewards Program
  • Guaranteed 1st Year Discount

SRS Vitality Protect (Cons)

  • No Plan Conversion Option
  • No Maturity Benefit
  • Limited Premium Payment Terms

SRS Vitality Protect (Other Benefits)

  • 75% SA Terminal Illness Coverage
  • Cover Boosters
  • Up To 30% Rider Premium Discount

SRS Vitality Protect (Eligibility Criteria)

  • Entry Age - 18 years
  • Max Entry Age - 65 years
  • Minimum Sum Assured - 50 L
  • Max Maturity Age 100Yrs
  • Premium Payment Term - (5-81 Yrs) LP/RP/SP

Comprehensive Plan

Tata AIA Maha Suraksha Supreme

A whole life cover plan that offers flexible premiums, covers terminal illnesses with 50% of the basic sum assured upon detection, and a life stage plus option.

Unique Features

  • Life/Life Plus Income Options
  • 50% of SA on Terminal Illness
  • Female & Non-Smoker Discounts

Maha Suraksha Supreme (Pros)

  • Additional Riders
  • High Cover Discount
  • Life Coverage with Terminal Illness Payout

Maha Suraksha Supreme (Cons)

  • No Policy Loan is Available
  • No Plan Conversion Option
  • No Maturity Benefit

Maha Suraksha Supreme (Other Benefits)

  • Payout Accelerator Benefit
  • 105% SA Death Benefit
  • Whole Life coverage (till age 100 years)

Maha Suraksha Supreme (Eligibility Criteria)

  • Entry Age - 18 years
  • Minimum Sum Assured - 50 L
  • Max Maturity Age 100Yrs
  • Premium Payment Term - LP/RP/SP
  • Max Entry Age - 65 years(Adaptable)

Comprehensive Plan

Sampoorna Raksha Supreme Credit Protect

This plan with 3 Income options comes with combined life coverage and terminal illness payout, offering benefits rider benefit and a 105% Death Benefit.

Unique Features

  • Life/Life Plus/Life Income Options
  • 50% of SA on Terminal Illness
  • Female & Non-Smoker Discounts

Sampoorna Raksha Supreme Credit Protect (Pros)

  • Additional Riders
  • High Cover Discount
  • Combines Life Coverage And Terminal Illness Payout

Sampoorna Raksha Supreme Credit Protect (Cons)

  • No Policy Loan is Available
  • No Plan Conversion Option
  • No Maturity Benefit

Sampoorna Raksha Supreme Credit Protect (Other Benefits)

  • Payout Accelerator Benefit
  • Early Mover Advantage
  • Whole Life coverage (till age 100 years)

(Eligibility Criteria)

  • Entry Age - 18 years
  • Minimum Sum Assured - 50 L
  • Max Maturity Age 100Yrs
  • Premium Payment Term - LP/RP/SP
  • Max Entry Age - 65 years (Adaptable)

TATA AIA Saral Jeevan Bima: FAQs

1. What is the grace period of TATA AIA Saral Jeevan Bima?

The plan offers a grace period of 30 days.

2. What is the Free Look period for this plan?

TATA AIA Saral Jeevan Bima plan offers a free look period of 15 days.

3. Are there any additional riders in TATA AIA Saral Jeevan Bima?

The plan offers additional coverage through riders such as Accidental Death Benefit Rider and Accidental Total and Permanent Disability Rider.

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Tata AIA Term Insurance Reviews

Read what our customers have to say about Tata AIA term insurance company

Customer Review Image

Kaushalya

Cuttack

March 15, 2024

I need an instant tax receipt for my Tata Aia life insurance premium pay for section 80C. So, I decided to reach out to Policyx.com for the same.

Customer Review Image

mohit khanna

Madurai

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...

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anu

Delhi

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.

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Vridhi Singh

Pune

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

Customer Review Image

Kanika Chaudhary

Delhi

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.

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Ravi Dhingra

Lukhnow

September 16, 2021

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

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Kunal Sahni

Indore

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.

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Vivek Kumar Sahni

Chennai

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...

Sahil Singh Kathait

Written By: Sahil Singh Kathait

Sahil is a passionate content writer with over two years of expertise in the insurance domain. He uses his knowledge in the field to create engaging content that the customer can relate to and understand. His passion lies in simplifying insurance terminology, ensuring a hassle-free understanding for potential policyholders. With his outstanding collaborative efforts with people, he understands different perspectives and keeps readers' viewpoints at the forefront of his content writing approach.

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