Tata Aia Term Life Insurance Plan: Protection For Whole Life

Tata Aia Term Life Protection plans are life insurance products that provide life cover.

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Tata AIA Life Insurance Company Limited, Tata Sons Private Limited, a leading business leader in India and AIA Group Limited. It is a joint venture between the independent listed Pan-Asian Life Insurance Group in the world. It is established in the year 2001, Tata AIA is the fastest-growing life insurance company in India that offering a wide variety of Tata Aia Term life insurance plan with a lot of may features.

Types of life insurance plans offered by Tata AIA

Check out the categories of life insurance plans which is offered by the company:

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  1. Protection plans
  2. Wealth plans
  3. Savings plans
  4. Child plans
  5. Retirement plans
  6. Health plans
  7. Group plans
  8. Microinsurance plans

In each category, there is a various plan that the company offers. In this article, we mentioned only brief details about tata aia term life insurance plan.

Protection plans

Protection plans are life insurance products that provide life cover. The term life insurance plan provides financial security in the unfortunate incident like death. The individual insured is covered for a fixed period. During this period, if he or she dies, the pre-determined cover (even assured) will, unfortunately, be payable to the nominee which named mentioned in the policy. Generally, security plans do not have maturity benefits. Several safety plans are offered by Tata AIA Life Insurance Company. Details of the following security schemes are available.

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1. Tata AIA Sampoorna Raksha Term Insurance Plan

Main points of the Tata AIA Sampoorna Raksha Term Insurance plan which we should focus on are:

  • The term life insurance plan offer life coverage up to 85 years or up to 100 years if whole life cover is chosen.
  • Flexibility to select from four death benefit options
  • Flexibility to select from regular or limited-term (5/10/12 years) premium payment term
  • Plan can be customised with additional riders
  • Discount on availing higher sum assured
  • Special rates for female lives
  • Income tax benefits under Section 80C and 10(10D) of the Income Tax Act, 1961

2. Tata AIA Sampoorna Raksha+ Term Insurance Plan

Sampoorna Raksha + is a term plan with a withdrawal of premium facility that provides financial stability and support to the insured’s family in the unfortunate demise of the insured during the policy period.

Main points of the Tata AIA Sampoorna Raksha+ Term Insurance Plan which we should focus on are:

  • Flexibility to choose between two types of death benefit. Insured can opt for lump-sum death benefits or combination of lump sum + monthly income for 10 years after death.
  • At the end of the policy term, All premiums paid will be returned to insured as a survival benefit.
  • Flexibility to select premium payment term – regular/limited pay (5/10/12 years)
  • The large sum assured discount on availing the higher amount of coverage
  • Preferential rates for female lives and non-smokers
  • Coverage can be enhanced with optional riders
  • Tax benefits and exemptions under Section 80C and 10 (10D) of the Income Tax Act.

3. Tata AIA Life Raksha TROP Plan

It is an online term insurance plan offered by Tata AIA with the withdrawal of a premium facility. The total premium paid will be refunded at the end of the policy term if the insured survives the policy term.

Main points of the Tata AIA Life Raksha TROP Plan which we should focus on are:

  • Raksha TROP is a non-linked, non-participating term plan
  • The plan provides the double benefit of protection and return of premium
  • Flexibility to choose the premium payment – regular/single/limited pay (5/10 years)
    Preferential premium rates for non-smokers
  • The large sum assured discounts for people availing the higher amount of coverage
  • Lower premium rates for female lives and no smokers
  • Income tax benefits under Section 80C and 10(10D) of the Income Tax Act, 1961

4. Tata AIA Life Raksha Supreme Term Insurance Plan

It is an online pure term insurance solution which is provided by Tata AIA. This policy provides life cover for the protection of the family of the insured in the unlikely event of the policy term.

Main points of the Tata AIA Life Raksha TROP Plan which we should focus on are:

  • Financial protection to the whole family or dependants against the unfortunate death of the insured
  • It is a non-linked and non-participating plan
  • The convenience of paying the premium in a preferred way. Flexibility to select the premium payment term – single pay/regular pay/limited pay (5 or 10 years)
  • Lower premium rates for female customers
  • Big Rewards for a healthy lifestyle in the form of preferential rate to non-smokers
  • The big sum assured discount for people who availing sum assured of more than INR 75 lakhs
  • Income tax benefits under Section 80C and 10(10D) of the Income Tax Act, 1961

5. Tata AIA Life Maha Raksha Supreme Term Insurance Plan

It is a simple non-linked and non-participating term plan. The plan brings with several attractive features to cater to the specific insurance needs of individuals.

Main points of the Tata AIA Life Raksha TROP Plan which we should focus on are:

  • Protection cover with an option to increase the coverage in future.
  • Life stage plus option provides in the policy helps to raise the life cover at major life stage events in future without any additional underwriting requirements
  • The policy brings with in-built payout accelerator benefit. In this, 50% of the basic sum assured is given in advance in the instance of diagnosis of terminal illness during the policy term
  • Flexibility to select the premium payment –single/regular pay
  • Discounted premium rate especially for female lives and non-smokers
  • Income tax benefits under the Section of 80C and 10(10D) of the Income Tax Act, 1961

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