Tata AIA Term Insurance

Term insurance provides financial protection and peace of mind for your loved ones. Tata AIA Life Insurance is one of the best companies to buy term plans in India. Tata AIA term life insurance plans offer unique advantages to their policyholders. Read on to find out the details!

Key Features of Tata AIA Term Insurance

Benefits of Tata AIA Term Insurance Plan

Tata AIA term insurance plans are the best life insurance products to ensure future financial stability for our loved ones. Here are some benefits to buying term life insurance from Tata AIA Life Insurance:

• Affordable Plans: One of the major advantages of purchasing a Tata AIA term life insurance plan is that it provides a comprehensive protection plan at affordable premiums.
• Flexible Premium Payment Mode: Policyholders can select from different premium payment options. You can choose from annual, half-yearly, quarterly, and monthly payout modes.
• Attractive Discounts: Tata AIA Life Insurance provides attractive discounts to its policyholders when purchasing a term plan with a high sum assured. Additionally, the company offers rebates for females and non-smokers.
• Tax Benefits: Tata AIA term insurance policyholders are eligible for tax benefits for a premium paid against the policy and claim received under the relevant provisions of the Income Tax Act, 1961.
• Return of Premium: You can select a return of premium rider by paying an extra premium. With this add-on, an insurer will pay back all the premiums to the insured for surviving the policy tenure.

Tata AIA Term Insurance Premium Calculator

Term insurance premium calculator enables policyholders to determine an estimated premium for their term plan. It helps you compare the features and benefits of different plans. After comparing all policies, policyholders can select the one that best suits their needs. To use a term insurance premium calculator, policyholders might have to fill in personal information such as age, gender, profession, and more.

Types of Tata AIA Term Insurance Plans 2024

Here’s a list of some of the best term life insurance plans offered by Tata AIA:

Let’s run through the features of each term life insurance plan in detail:

Tata AIA Sampoorna Raksha Plan

This is a non-linked, non-participating term life insurance plan that provides comprehensive financial security to your loved ones in case of the unfortunate demise of the life assured. The key features of this term plan are as follows:

• The policyholders can select from four death benefit payout options.
• You can get whole life insurance coverage under this plan.
• Select from regular or limited premium payment options.
• Low premium rates for female policyholders and non-smokers.
• Additional riders to increase the coverage of the plan.
• Avail of tax benefits under Section 80C and Section 10(10D) of the Income Tax Act, 1961.

Tata AIA Sampoorna Raksha+ Plan

This Tata AIA term life insurance plan provides a death benefit in case of the unfortunate demise of the policyholder, along with a return of the premium paid until the maturity of the policy. The key benefits of Tata AIA Sampoorna Raksha+ Plans are:

• You can select between two death benefit options: sum assured on death as a lump sum benefit or sum assured on death as a lump sum benefit on death and monthly income for the next 10 years.
• Return of premium if the policyholder survives the policy tenure.
• High coverage discount for choosing a high sum assured term plan.
• Select from regular or limited premium payment terms.
• Get tax benefits as per the prevailing sections of the Income Tax Act, 1961.

Tata AIA iRaksha Supreme Plan

It is a non-linked, non-participating term insurance plan that can ensure financial security and peace of mind for your loved ones. You can buy this plan online without any hassle. The key features of this plan are:

• You can select from different premium payment options: regular, single, or limited pay.
• Flexibility to pay a premium either on an annual or semi-annual basis.
• Discount on premium for female lives.
• Attractive rebates for non-smokers and healthy individuals.
• A free look-up period of 30 days is available. The policyholders can terminate their policy during this period if they are not satisfied with the terms and conditions of the policy.
• A death and surrender benefit is offered. No maturity benefit is provided.
• A grace period of 15 days is offered to renew an expired term life insurance plan.

Tata AIA Maha Raksha Supreme

It is a pure protection plan that provides the sum assured to the nominee in case of the demise of the life assured. The key benefits of this Tata AIA Maha Raksha Plan are as follows:

• You can select from single or regular premium payment terms.
• Opt for different premium payment modes: annual, semi-annual, monthly, or quarterly.
• Attractive discounts and rebates for women and non-smokers.
• Enhance the coverage of your plan by purchasing Tata AIA accidental death and dismemberment rider.
• A grace period of 15 days to pay a pending term insurance premium.

Riders Available Under Tata AIA Term Insurance Plans

The following are the riders available under Tata AIA term plans:

• Tata AIA Non-Linked Comprehensive Protection Rider: This rider provides comprehensive protection against unfortunate events like accidental death or disability, critical illness, terminal illness, and others. Therefore, nominees for the policy will receive extended coverage.
• Tata AIA Non-Linked Comprehensive Health Rider: This term insurance rider provides comprehensive protection to the policyholders against different risks, such as hospitalization, accidental disability, critical illnesses, and more.

Factors Affecting Tata AIA Term Insurance Premium

Following are the factors that affect Tata AIA term insurance premiums:

• Age: It is one of the most significant factors to consider while buying Tata AIA Term Insurance Plans. In general, elderly people pay a larger premium than younger people for their term plan.
• Profession: Your profession has a big impact on your Tata AIA Term Life Insurance Plan's premium. You will have to pay a higher premium if you work in a high-risk job like the Indian Army.
• Medical History: The policyholder's medical history is another crucial consideration. People with pre-existing conditions could have to pay higher insurance premiums than those in good health.
• Lifestyle Habits: Alcohol and other unhealthy lifestyle choices, such as smoking, have a significant impact on the cost of your Tata AIA Term Insurance Plan premium. Following this lifestyle makes policyholders more susceptible to illness, so they may have to pay a higher premium.
• Policy Tenure: The premium for your term insurance plan is directly impacted by the policy tenure. Choose a policy term that will offer enough coverage for the dependents in the dreadful event of the policyholder's demise.

Tips to Buy Best Term Insurance Plan

Here are some useful tips to help you choose wisely when you buy term insurance:

• Think about the number of your dependents. Make sure you choose the appropriate sum-assured term plan to protect your loved ones' finances.
• Your financial plan shouldn't be impacted by term insurance. Therefore, thoroughly consider your current financial demands and choose the plan that is best for you.
• The company's claim settlement ratio is yet another crucial recommendation that you ought to take into account. Choose an insurer with a high claim settlement ratio to give your loved ones peace of mind.
• Look at the riders that your term insurance provider has to offer. Riders will improve the scope of your policy's coverage.

Exclusions Under Tata AIA Term Insurance Plans

Tata AIA term plans do not cover suicidal deaths in their insurance plans. In simple terms, if the policyholder commits suicide within 12 months of the policy's inception or revival, the nominee will only receive the total premiums paid by the policyholder. As a result, the nominees will not receive any sum assured upon the suicide death of the life assured.

Process to Buy Tata AIA Term Insurance Plans

The Tata AIA term plan purchasing process is quick and hassle-free. Find out a comprehensive guide on how to buy Tata AIA term insurance online in the section below:

• Visit the official website of InsuranceDekho.
• Click on “Tata AIA Term Insurance,” available under the “Term Insurance Companies” section.
• Enter all the required details in the online term insurance premium calculator.
• A list of Tata AIA term plans will be displayed on the screen.
• Compare the features and benefits of each plan. Select the one that fits your needs.
• Pay a premium online to complete the purchase.
• Tata AIA policy document will be shared to your registered email-id.

Documents Required to Buy Tata AIA Term Insurance Plans

Here’s a list of documents you will need to buy Tata AIA term insurance plans:

• Latest medical reports
• Age proof such as an Aadhaar card
• Identity proof
• Salary slips for the last 3 months
• Income tax return copy
• Address proof

Why Purchase Tata AIA Term Insurance Online?

Tata AIA Insurance Company is one of the most reliable insurance providers in India. The company provides online services to its policyholders. Henceforth, you can buy life insurance plans online from the comfort of your home. More reasons to buy Tata AIA term plans are as follows:

• Policyholders can easily compare different plans online. A detailed comparison of plans will help them make the right purchase decision.
• Tata AIA term insurance plans offer additional discounts to policyholders. You can easily check for discounts and rebates online.
• You can purchase Tata AIA term plans online with minimal paperwork. Simply provide your personal details and upload your documents online to buy term insurance.
• The digitalized purchase of term plans allows you to buy protection plans quickly. You can insure yourself and your family in a few easy steps.

Tata AIA Term Insurance Plans Claim Settlement Process

In the event of the demise of the policyholder, the nominees can claim a term plan to get financial protection. The Tata AIA term insurance claim settlement process can be completed in a few easy steps. Here’s a step-by-step guide that you need to follow:

Documents Required To Claim Tata AIA Term Insurance

• Original policy document
• Rider policy document, if purchased
• Original death certificate
• Duly filled claim form
• Copy of FIR in case of accidental death
• Copy of the postmortem report
• Certificate issued by the last attending doctor or surgeon
• Identity proof of the claimant
• Any other document asked by an insurance provider

Steps You Should Follow To Claim Tata AIA Term Insurance

• Download and fill out the claim form thoroughly.
• Attach all the necessary documents asked for by Tata AIA Life Insurance.
• Submit the form along with the attached documents.
• An insurer will file your claim request. The company will assess all the documents and information you submit.
• Once the verification process is complete, an insurance company will either process or deny your claim request.

It is advisable that you provide accurate and complete information while making claims. Your claim request for Tata AIA Term Plans may be rejected if the company finds out any false or misleading information during the verification process.