Tata AIA Term Insurance

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Protect your loved ones against death, disability and Illness
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Tata AIA Term Insurance: Brief Overview

Everyone wants to secure their loved ones and ensure that they are never short in terms of financial resources to live the life of their dreams. It is necessary to ensure that what comes may the standard of living of the family is never compromised. Tata AIA term insurance plan helps you to secure your family financially and ensure that the burden of your loans and liabilities doesn't become a burden on them and their happiness. 

Most popular Tata AIA Term Insurance Plans

A protection plan helps you to secure the future of your family and shield them from the uncertainty in life. It is necessary to safeguard your loved ones from various uncertainties such as the untimely demise of the breadwinner, loss of income or critical illness. Tata AIA term insurance plan facilitates the security of your family ensuring that you and your loved ones can live life to the fullest.

  1. Tata AIA Life Insurance MahaRaksha Supreme

MahaRaksha Supreme plan offers a wide range of insurance choices to fulfil your family's needs of financial protection. The plan comes with an in-built accelerated benefit in which 50% of the basic sum assured in the plan is paid in advance to the life assured in the event of diagnosis of terminal illness during the tenure of the policy.

Highlighting Features of the plan

  • The plan offers life cover up to 85 years of age with an option to avail coverage for the entire life i.e. 100 years of age.
  • Option to increase the cover with life stage plus option at various future milestone events of your life such as marriage, the birth of a child, legal adoption of a child, etc. 
  • Standard premium rates for non-smokers and discounts on premium for female lives. 
  • Flexible premium paying frequency which includes single pay, limited pay or throughout the policy term. 

Eligibility Conditions

Age at entry

Minimum- 18 years

Maximum- 75 years/ 65 years / 45 years (Depending on the premium paying term) 

Age at maturity

Minimum- 28 years (For non-whole life cover) and 100 years (For whole life cover) 

Maximum- 85 years (For non-whole life cover) and 100 years (For whole life cover)

Sum assured

Minimum- INR 5 lakh

Maximum-No limit

Policy term10 years / 50 years (Depending on the premium paying term)
Premium paying termSingle pay, regular pay and limited pay of 5 years/ 10 years/ 12 years/ pay up to  age 60 years
Premium paying modeMonthly, quarterly, semi-annually and annually
  1. Tata AIA Life Insurance iRaksha TROP

iRaksha TROP is an individual life insurance term plan with a return of premium benefit. It not only ensures peace of mind by providing financial security to your family but also returns the total premiums paid at the end of the policy term.

Highlighting Features of the plan

  • If life assured survives till the maturity of the plan 100% of the total premiums paid for the plan will be returned. 
  • The plan offers the choice of premium payment terms such as single pay, regular pay or limited pay. 
  • Preferential premium rates for non-smokers and female policyholders
  • Discounts on premium rates are offered for a higher level of protection in the plan
  • Option to enhance and customise your coverage with optional riders

Eligibility Conditions

Entry age

Minimum- 18 years

Maximum- 70 years

 
Maturity ageMaximum-10p years 
Sum assured

Minimum- INR 50 lakhs

Maximum- No limit

 
Policy termMinimum- 10 years/ 15 years Maximum- 40 years 
Premium paying termSingle pay, Regular pay and limited pay of 5 years/ 10 years 
  1. Tata AIA Life Insurance Sampoorna Raksha

Sampoorna Raksha Term plan offers flexibility to choose the plan which best suits your requirements with the benefit to receive the payout either in the form of the lump-sum amount or partly in a lump sum and partly as a monthly income for the next 10 years.

Highlighting Features of the plan

  • The plan offers four death benefit options to receive the sum assured either in lump sum amount, partly in lump sum amount and partly as monthly instalment, enhance sum assured on death in a lump sum or enhanced sum assured on death partly in a lump sum and partly as monthly income for next 10 years. 
  •  It offers a large sum assured discount for higher coverage
  • Different rates of Premium for smokers and non-smokers
  • Option to avail whole life coverage that is till age 100 years
  • Lower premiums for female policyholders

Eligibility Conditions

Entry age

Minimum- 18 years

Maximum- 70 years

Maturity age

Minimum- 28 years

Maximum- 85 years and 100 years for whole life cover

Sum assured

Minimum- INR 50 lakhs

Maximum- No limit

Policy term

Minimum- 10 years

Maximum- 85 years minus age at entry

Premium payment termRegular pay and Limited pay
Premium payment modeMonthly, quarterly ,half-yearly and annually
  1. Tata AIA Life Insurance Sampoorna Raksha Plus

Sampoorna Raksha Plus is a return of premium plan which not only provides you life coverage but also returns the premium paid for the plan on survival by the life assured till the maturity of the policy. 

Highlighting Features of the plan

  • Option to receive the death benefit either in a lump sum or partly in a lump sum and partly as monthly income for the next 10 years
  • Choice of regular or limited premium payment term
  • Option to avail whole life coverage
  • Lower premiums for female policyholders and non-smokers
  • Option to enhance your coverage and customise it with optional riders available with the plan. 

Eligibility Conditions

Entry age

Minimum- 18 years

Maximum- 65 years/ 70 years (Depending on the premium payment term)

Maturity age

Minimum- 28 years

Maximum-100 years

Sum assured

Minimum- INR 50 Lakhs

Maximum- No limit

Policy term

Minimum- 10 years/ 15 years

Maximum- 40 years

Premium payment termRegular pay and limited pay of 5 years/ 10 years/ 12 years
Premium payment modeMonthly, quarterly,half-yearly and annually

Apart from the above Tata AIA also offers the following group term insurance plan

  • Tata AIA Life Insurance Group Term Life Plan
  • Tata AIA Life Insurance Group Sampoorna Raksha

Benefits of buying Tata AIA Term Insurance Plan

Term insurance plans come with various benefits apart from providing the basic advantage of life protection. Let us take a look at the benefits of buying the Tata AIA Term plan: 

  1. Security and peace of mind
    The basic purpose of a term insurance plan is to protect your family financially in your absence and ensure that they live their life without any financial burden. The security of your family gives you peace of mind that they have been secured under a term plan and will be taken care of.

     
  2. Affordable premium- 
    Term plan has an affordable premium and can be purchased even by those who do not have much income. Investing in a term plan is very easy because of its affordability. 

     
  3. Wider coverage- 
    Tata AIA term plans offer an option to avail whole life coverage that is up to 100 years of age, thereby ensuring to provide you wider coverage for your entire life.

     
  4. Variety of options- 
    Tata AIA Term plan comes with a variety of options such as the Life Stage Plus option and Top-up option in which you can increase the cover at future milestones of your life so that you are never short of finances when required. 

     
  5. Greater convenience- 
    Some term plans offered by Tata AIA Life Insurance have in-built benefits covering other terminal or critical illnesses. Tata AIA Life Insurance Maha Raksha Supreme plan comes with an in-built payout accelerated benefit in which 50% of the paid sum assured is paid on diagnosed with a terminal illness. 

     
  6. Choice of pay-outs- 
    Tata AIA term insurance plan offers you the choice to receive the death payout either in a lump sum or partly in a lump sum and partly as monthly income for a period of 10 years. This helps you to choose the payout as per your requirements and meet your day to day expenses along with immediate financial ones. 

     
  7. Premium discounts- 
    Discounts are offered on rates of premium for higher sums assured in the term plans. Also, differential rates of premium are offered for non-smokers and women policyholders which can be availed at the time of buying Tata AIA term insurance policy. 

     
  8. Tax benefits- 
    Tax deductions can be availed for premiums paid for the plan as well as for the payout received from the plan under section 80C and 10 (10D) of the Income Tax Act. 

What is covered in Tata AIA Term Insurance Plan?

Let us have a look at what all is covered in the Tata AIA Term plan- 

  1. Death benefit- 
    Term plans are pure protection insurance policies that provide life cover. In case of the unfortunate demise of the life assured, the death benefit is paid to the nominee to help the family of the life assured to meet the immediate expenses. Some plans offered by Tata AIA also provides whole life cover in which the life assured is covered till he/she is 100 years of age.

     
  2. Terminal illness- 
    Tata AIA Term plan covers terminal illness and pays 50% of the sum assured in the plan if the life assured is diagnosed with any terminal illness. Tata AIA insurance Maha Raksha Supreme plan covers terminal illness.

     
  3. Survival benefit- 
    If the life assured survives till the maturity of the plan, 100% of the premiums paid for the plan will be returned back to the policyholder.

     
  4. Surrender benefit- 
    You can avail of surrender benefit if you have paid the premiums for a minimum tenure as stated in the terms and conditions of the policy. The surrender value that is payable to the policyholder is guaranteed surrender value or the special surrender value, whichever is higher. 

     
  5. Your liabilities- 
    Tata AIA Term plan ensures that your loans and liabilities do not become a burden on your family. With all or part of the payout received from the plan, your family will be able to take care of the immediate liabilities that you owe. 

What is not covered in Tata AIA Term Insurance

There are certain events which are not covered in the Tata AIA term insurance policy. These events are called exclusions. The sum assured on death would not be paid under the plan if the reason behind the death of the life assured is due to the following: 

  • War, strike or invasion
  • Accidental death due to driving the vehicle under intoxication
  • Drug abuse or excessive alcohol
  • If the life assured passes away due to participating in a hazardous or adventurous activity
  • Death due to participating in an illegal activity
  • Death due to pre-existing diseases or during the waiting period of the plan
  • Due to HIV or AIDS

If the life assured dies due to suicide within 12 months of purchase of the policy, the nominee of the plan will be entitled to 80% of the total premiums paid till the date of death of the life assured or the surrender value, whichever is higher. After payment of such benefit the term insurance policy will be terminated.

Given above are some common exclusions of Tata AIA term insurance plan. For a detailed list, you can visit the website of the insurance company. 

How to apply for Tata AIA Term Insurance Plan

If you are planning to buy a term plan online, the first thing that you need to do is select a term insurance plan which best suits your requirements considering the eligibility conditions, the coverage that you are looking for, the premium that you can afford and the pay-outs that you wish for. After finalising these various parameters you can go ahead and purchase the plan.

The following steps are required to be followed to apply for the Tata AIA term insurance plan: 

  1. Visit the official website- 
    Visit the official website of the insurance company or just click on www.tataaia.com. Then click on ‘buy online’ and select the term plan that you want to buy. 

     
  2. Fill in the detail- 
    Provide the details such as your name, email ID, pin code and mobile number so that the insurance company can suggest the right quote for you.

     
  3. Choose to add ons- 
    The next step is to select the add-on that you want to buy with the term plan to upgrade the cover. Once you select the add-ons,  you need to select the policy tenure and the premium payment frequency.

     
  4. Fill the application form- 
    After finalising the premium along with the add-ons, fill the application form carefully with the relevant details and attach the documents as specified by the insurance company. The documents required to submit at the time of purchasing the Term plan are as follows: 
  • Proof of address such as Aadhaar card, voter ID, driving licence, electricity telephone bill, etc
  • Proof of Identity such as PAN card, passport, driving licence, etc
  • Proof of income such as income tax returns, latest form 16, salary slip of previous three months, etc

     
  1. Medical test- 
    You will have to undergo a pre-policy medical test depending on the sum assured selected by you, your age and overall medical health.

     
  2. Pay the premium
    Pay the premium online through flexible payment gateways offered by the insurance company which are not only quick but also secured. The insurance company will pay you the policy document on your registered email id as well as send it to your registered address. 

You can also buy a term plan by visiting the nearest branch of the insurance company and following the same procedure. For any assistance for buying a term insurance plan offered by Tata AIA Life Insurance, you can call only toll free number 1860 266 9966 or email at buyonlinesupport@tataaia.com

 

Tata AIA Term Insurance Riders

Riders are additional benefits that can be added to existing term insurance plans as per requirement. Riders are able to cover some aspects which do not fall under your term plan. One or more riders can be added with your term plan at the time of buying the policy or at the time of renewal. Tata AIA offers the following riders to be added to the term insurance plan: 

  1. Tata AIA Life Insurance Non-linked Comprehensive Protection Rider- 
    Non-linked comprehensive protection rider provides coverage against various unforeseen risks and events such as disability due to accident, death of the life assured, a range of critical illness and certain terminal illnesses. You can choose one or more benefit options under the plan and receive the benefit of a specific event happening. 

     
  2. Tata AIA Life Insurance Waiver of Premium Plus WOPP Rider- 
    This rider ensures that the insurance cover and benefit under the base plan remain intact even on non-payment of the premiums of the base term plan due to death or total and permanent disability. Under the rider, the future premiums of the place are waived off if the life insured suffers death or permanent and total disability due to an accident. 

     
  3. Tata AIA Life Insurance Accidental Death and Dismemberment Long Scale ADDL Rider- This rider covers accidental death and disability or dismembered suffered by the life assured due to an accident. A lump sum amount is paid to the beneficiary in case of accidental death of the life assured and a fixed percentage of the riders is paid in the case of disability or dismemberment including burns.

Tata AIA term Insurance Claim Process

Easy claim settlement is the topmost priority for Tata AIA Life Insurance. The trained claim expert team examines the claim and guides you to settle it in a very quick and seamless manner. Follow the steps to make a claim of your Tata AIA term insurance policy: 

  1. Step 1: Register the claim:  
    The first step is for processing your claim of Tata AIA term insurance is to inform the insurance company about your claim using any of the following modes: 
  • Click on https://www.tataaia.com/customer-service/claim-registration.html to register the claim online and upload the requisite documents. 
  • Call on the toll-free number of the insurance company and initiate the claim. The insurance company will arrange to pick up the documents from your doorstep. 
  • WhatsApp at 7045669966 by typing, CLAIM to initiate it. 
  • Email at customercare@tataaia.com or call on the helpline number 1860-266-9966/ 9180 67603700 (for NRIs) for assistance. 

     
  1. Step 2: Fill the form- 
    Fill the online claim intimation form by entering your policy number, the claim details and details of the claimant such as mobile number, relationship with the insured, email ID, pin code and address. 

     
  2. Upload the documents- 
    A signed or attested copy of the relevant documents are to be submitted to the insurance company to process the claim. The documents required as follows: 

In case of natural death of the life assured

  • Claimant’s settlement along with photo identification proof
  • Current address proof of the claimant along with cancelled cheque with the pre-printed account number and copy of bank passbook
  • Death certificate of the life assured as issued by the local government body or Municipal Corporation
  • Approve of legal title of the claimant to the proceeds of the claim
  • Cause of death certificate
  • FATCACRS self-certification forms for NRIs customers. 
  • Attending physician statement
  • Medical records of the life assured such as discharge/ death summary, admission notes, test reports, indoor case papers, if applicable. 

In case of unnatural death of the life assured

  • A copy of the first information report or police complaint/ panchnama
  • A copy of the post-mortem report (Autopsy report) & Viscera report
  • A copy of the charge sheet or the final police investigation report

     
  1. Claim Processing- 
    The claims department of the insurance company will verify the submitted documents and access their authenticity. If everything is found in order, the claim would be settled soon. The amount of the claim will be credited to the bank account of the claimant through NEFT.

The entire claim settlement process can also be done at the nearest branch of Tata AIA Life Insurance Company. For any queries regarding the claim process, you can call on the toll-free number 1860 266 9966.

Tata AIA Term Insurance Review

Tata AIA Life Insurance is one of the leading insurance companies in India which boost a perfect combination of efficiency and experience. Tata AIA Life Insurance has a claim settlement ratio of 99.06% in the financial year 19- 20. The plans offered by Tata AIA Life Insurance provide triple benefits like the cover, whole life coverage as well as the return of premium benefit making it an ideal choice for all the customers who are looking to invest in a term plan with the assured returns. It offers a wide range of products catering to the diverse needs of customers and corporates. Tata AIA Life Insurance provides you with the best support and service throughout your insurance journey with them.

Tata AIA Term Insurance Customer Care Details

Official websitewww.tataaia.com
Email IDcustomercare@tataaia.com 
Toll free number18602669966 / 080 67603700 (Outside India) 
Corporate address14th Floor, Tower A, Peninsula Business Park, Senapati Bapat Marg, Lower Parel, Mumbai- 400013
NRI Number9180 67603700
SMSSMS LIFE to 58888
WhatsApp7045669966
Frequently Asked Questions
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