Tata AIA Maha Raksha Supreme Select

Overview

Tata AIA Maha Raksha Supreme Select is a pure term insurance plan that protects your family's lifestyle, secures long-term objectives, and repays debts if you are not around. It is a Non-Participating, non-linked, individual life insurance product that offers flexibility at every step. Under this plan, you will get 4 death benefit options, 50% acceleration of sum assured and premium waiver on terminal illness, and whole life cover. You will also get joint life cover for spouses, discounts for salaried individuals and women, instant claim payouts, FlexiPay to defer premiums, and optional riders for wellness and health benefits.

Tata AIA Maha Raksha Supreme Select plan offers various benefits, including:

• Flexible death benefit options
• Whole life cover
• Super Retirement Benefit (Life Secure Options)
• Acceleration of 50% of the Effective Sum Assured on diagnosis of terminal illness
• FlexiPay Benefit
• Joint Life Option
• Discounts on premiums for women

Riders associated with the Tata AIA Maha Raksha Supreme Select plan

You can add the following riders to your Tata AIA Maha Raksha Supreme Select plan:

Key Features and Benefits

• Flexible Coverage

  Choose from four death benefit options with coverage up to age 100. You can increase cover at key life events up to 4 times, and boost it yearly by 5% to 20%.

• Claims and Payouts

  If the sum assured is ₹1 Crore or more, then ₹3 Lakh is paid within 1 working day of claim intimation. Flexible payout options are available as a lump sum, installments of up to 30 years, or a mix of both.

• Flexible Premium Payments

  The plan offers flexible premium payment options, including the FlexiPay benefit which allows you to defer premiums.

• Premiums and Other Discounts

  Get 15% lower premiums for women and extra discounts for select customers. Receive 100% premiums back at age 70 with a 5% annuity boost, plus health services like coaching and consultations.

• Financial Protection

  Whole life cover is available for very high ages as per the plan rules and regulations.

• Illness and Waiver Benefits

  For terminal illness, 50% of the sum assured is paid early. After a valid claim, all future premiums are waived. An optional benefit for women waives future premiums if the husband dies.

• Maturity Benefits

  In Life Secure Plus and Joint Life Secure Plus, 100% of the paid premiums are returned.

Exclusions

• If suicide occurs within 12 months of the policy issuance, the nominee will receive 80% of the premiums paid or the surrender value, whichever is higher.
• The policy provides an accelerated payout of 50% of the sum assured if the insured is diagnosed with a terminal illness. This benefit will not be paid if the claim is made within two years of the policy issuance date, or if the condition is directly associated with suicide in the first year.
• Under joint life options, this benefit is applicable for simultaneous death. It is not payable if death is associated with pre-existing conditions, self-harm or abuse, conflict and war, hazardous activities (such as deep-sea diving or paragliding), aviation risks, criminal acts, nuclear events, or professional/occupational risks.