Term Insurance calculator
Why opt for a term plan?
Gift yourself and your family the best term insurance plan that offers complete financial security, designed for people just like you.
Express Claims Settlement in 4 Hours6
T&C Apply6
One Term Plan. Multiple Benefits.
What makes Tata AIA’s Term Insurance Plan Unique?
We offer customised solutions that enables you to protect the smiles of your loved ones.
Whole Life Coverage**
Up to 100 years of age for your family's guaranteed life-long financial security
Flexible Payouts
Choose to receive the death benefit as a lump sum or in instalments for ongoing support.
Lower Premium Rate for Women
Get a 15% discount on premiums if you are a female policyholder.
Rider Coverage
Enhance your plan with comprehensive riders4 offering unique health and wellness benefits for additional security.
Save Tax Up to Rs 46,800
When you buy a term insurance plan, you can avail tax3 benefits as per the applicable Income tax laws and save up to Rs. 46,80010 annually.
Flexi Pay Benefit
The FlexiPay Benefit7 allows you to defer premium payments for up to 12 months, offering temporary financial relief.
Instant Claim
Get instant payout of ₹3 Lakh on claim intimation1 offering temporary financial relief.
Terminal Illness Cover:
Upon diagnosis of a terminal illness, the life insured will receive 50% of the base sum assured to manage the immediate expenses.
Sample Illustration$$
Additional coverage that can be added to your insurance policy
Life promise
Premiums given are excluding taxes for Life Cover of 1 Cr., Standard Life, Non-Smoker for a policy duration of 20 years, Regular Pay under Life Option.
| Age | Monthly Premium | Annual Premium | ||
|---|---|---|---|---|
| Male | Female | Male | Female | |
| 20 years | ₹568 | ₹483 | ₹6434 | ₹5469 |
| 30 years | ₹732 | ₹622 | ₹8285 | ₹7042 |
| 40 years | ₹1308 | ₹1111 | ₹14809 | ₹12587 |
Life Promise Plus
Premiums given are with Return of Premium, excluding taxes for Life Cover of 1Cr., Standard Life, Non-Smoker for a policy duration of 20 years, Regular Pay under Life Option.
| Age | Monthly Premium | Annual Premium | ||
|---|---|---|---|---|
| Male | Female | Male | Female | |
| 20 years | ₹1356 | ₹1152 | ₹15352 | ₹13048 |
| 30 years | ₹1969 | ₹1673 | ₹22296 | ₹18951 |
| 40 years | ₹4059 | ₹3450 | ₹45964 | ₹39069 |
Life promise
Premiums given are excluding taxes for Life Cover of 2 Cr., Standard Life, Non-Smoker for a policy duration of 20 years, Regular Pay under Life Option.
| Age | Monthly Premium | Annual Premium | ||
|---|---|---|---|---|
| Male | Female | Male | Female | |
| 20 years | ₹930 | ₹790 | ₹10528 | ₹8948 |
| 30 years | ₹1253 | ₹1065 | ₹14193 | ₹12064 |
| 40 years | ₹2340 | ₹1989 | ₹26505 | ₹22529 |
Life Promise Plus
Premiums given are with Return of Premium, excluding taxes for Life Cover of 2Cr., Standard Life, Non-Smoker for a policy duration of 20 years, Regular Pay under Life Option.
| Age | Monthly Premium | Annual Premium | ||
|---|---|---|---|---|
| Male | Female | Male | Female | |
| 20 years | ₹2008 | ₹1707 | ₹22743 | ₹19332 |
| 30 years | ₹2990 | ₹2541 | ₹33858 | ₹28779 |
| 40 years | ₹6463 | ₹5493 | ₹73188 | ₹62210 |
Discover a premium that perfectly aligns with your current income and future goals using our term insurance calculator.
All Premiums are subject to applicable taxes, cesses & levies which will be entirely borne/ paid by the Policyholder, in addition to the payment of such Premium. Tata AIA Life shall have the right to claim, deduct, adjust, recover the amount of any applicable tax or imposition, levied by any statutory or administrative body, from the benefits payable under the Policy. Kindly refer the sales illustration for the exact premium.”
Plan Options in Sampoorna Raksha Promise
Option 1: Life Promise
The Life Promise Option offers customizable and comprehensive protection for your family's financial security. With enhanced coverage options, this plan provides continuous support.
- Tailored Coverage: You can choose the base sum assured (SA) at the time of purchase, subject to underwriting eligibility.
- Death Benefit Assurance: If the policyholder dies during the policy term, then the nominee will receive the stipulated death benefit. This amount is the sum assured at the time of death minus any accelerated benefit payout. The policy is terminated after the death benefit is paid.
- Payor Accelerator Benefit: This benefit provides financial relief upon a terminal illness (TI) diagnosis. All your future premiums are waived, and you will receive 50% of the base sum assured as a lump sum to manage immediate expenses.
- Maturity Benefit: If the policyholder survives till maturity, no additional benefit is payable, and the policy terminates.
Option 2: Life Promise Plus
Shield your family beyond the ordinary with Life Plus Options that go beyond life insurance. Enjoy a guaranteed maturity payout, ensuring your investment is preserved and your coverage remains intact!
- Customized Protection Plan: When you purchase your policy, you can choose the amount of coverage (Base Sum Assured) that best suits your family's needs.
- Comprehensive Death Benefit: If the policyholder dies during the policy term, then the nominee will receive a payout known as the death benefit. This amount is calculated based on the effective sum assured, which considers your initial Base Sum Assured and any additional coverage options you have selected minus any payor accelerated benefit payout. Once the death benefit is paid, the policy will terminate.
- Flexible Coverage Enhancements: Increase your coverage with the life stage or top-up sum assured options. These enhancements are included in the effective sum assured for death benefit calculations.
- Financial Support During Illness: When you face a terminal illness, you are eligible to receive a lump sum payment that equates to 50% of the base sum assured upon confirmation of a terminal illness.
- Future Premium Waiver: If a terminal illness claim is accepted, all future premiums are waived, allowing the policy to remain in force for the remaining benefits without financial strain.
- Guaranteed Maturity Payout: Upon surviving the policy term, you will be provided with 100% of the total premiums paid (excluding loading for modal premiums and discounts) for the benefit option and any opted Cover Enhancement Options, ensuring your investment is returned and your coverage continues.
Rider Options
Additional coverage that can be added to your insurance policy
A non-linked, Non-Participating Individual Health rider (UIN: 110B045V02)
Tata AIA
Vitality Health
39 Critical Illness covered including minor stage illness
Tata AIA
Vitality Health
Pays fixed amount on Hospitalization and on ICU admission
A non-linked, Non-Participating Individual Health rider (UIN: 110B046V02)
Tata AIA
Vitality Protect
Offers protection against 40 Critical Illness including Cancer & Cardiac conditions
Tata AIA
Vitality Protect
Extended protection to your loved ones too under the same plan.
Return of balance premium$
Tax benefits* as per applicable laws.
A non-linked, Non-Participating Individual Health rider (UIN: 110B033V03)
Tata AIA
Comprehensive Protection Rider
Financial protection against Death, Accidental Death/Disability and Illness
Tata AIA
Comprehensive Protection Rider
40 Critical Illnesses covered including Cancer and Cardiac arrest
Tax benefits* as per applicable laws.
A non-linked, Non-Participating Individual Health rider (UIN: 110B031V03)
Tata AIA
Comprehensive Health Rider
Enhanced protection to cover risks which includes Disability, Hospitalization and Illness
Tata AIA
Comprehensive Health Rider
Flexibility to opt for Return of Premiums~
Tax benefits* as per applicable laws.
Tata AIA
A name you can count on
99.01%
Individual Death Claim Settlement Ratio2
4 Hours
Express Claim Settlement6
T&C Apply6
Rs 4,00,000 Crore+
Retail Sum Assured#
77 Lakhs+
Families protected so far5
Testimonials
Sohini Saha
Hi Team, This email is to appreciate the support of Monomay & Subrata even though they were working from home during the locked down phase. I really appreciate the support and the effort of the team to take extra steps to resolve my service request. Keep up the great work.
Mihir Bhandari
Respected Madam, I thank Ashwani Indulkar for her prompt service. She was very efficient in answering all my queries & concerns about my policy. I wish her all the best for future. It was a great experience & I shall recommend Tata AIA Life to my friends and relatives.
Harshit Shah
Dear Pratik, We are really thankful to you & your team & appreciate your kind nature, efforts & support with the necessary changes in my insurance policy document during the COVID-19 lock down. Thanks a lot...I received my updated Policy documents soft copy by mail.
Nishant Kumar
Dear Harshali, Thanks a lot. Amount has been credited to my account. I shall remain thankful to Tata AIA Life for the support in a time when the whole country is under COVID-19 lockdown. No other company has the guts to perform such a hassle-free service like Tata AIA Life.
Gautam Banerjee
Dear Rittwik, I am amazed to see the promptness from your side in this lockdown situation where human world is at stake. It's an example towards a sense of responsibility & feeling for the customer. Really admirable & thanks a lot for helping me in this abnormal situation.
Vinayak Sen
Greetings Mr. Upendra Kumar, Thanks a ton! I express my wholehearted appreciation for all your help in this case. Your proactive approach and prompt action especially during this COVID-19 Lockdown situation has been really impressive! Kudos!
Vivekananda Dutta
Dear Priya, Thank you for the splendid support & care rendered to me during this COVID-19 lock-down days. You attended my queries even at odd hours, while working from home. Your responses were prompt, courteous and full of Contents. I rate your services 10/10. Bravo Tata AIA Life.
V Sridhar
Dear Dr. Nilesh, Thanks for your time and detailed discussions, even during this COVID-19 lockdown, to help me identify the best plan for me and also for sharing the revised offers. Thanks also to the entire leadership team of Tata AIA Life for their support.
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Frequently Asked Questions(FAQs)
What is a term life insurance plan?
A term insurance plan is a type of a life insurance that provides comprehensive coverage to safeguard the financial future of your loved ones. In case the policyholder passes away during the policy term, the nominee will receive a death benefit amount.
Term Insurance plans are affordable, and the premium amount is less if you buy at a younger age. Term insurance plans are a must-have for anyone who is a breadwinner for their family and has loved one’s dependent on their income.
Who should consider buying a Term Insurance Plan?
A Term Insurance Plan is ideal for:
- Individuals looking for a simple and affordable insurance plan to secure their family's financial future.
- Have dependents like a spouse, children, or aging parents to take care of.
- Those who want to cover financial liabilities like a home loan, education loan, or any other debts.
What are the key features of a Term Insurance Plan?
- Affordability: A term premium plan is affordable if purchased early. With increase in age, the premiums may also increase hence it is suggested to buy a term plan as early as possible to secure the financial future of your family.
- High Sum Assured at Lower Premiums: You can choose a high sum assured at a relatively low premium, thus ensuring that your family’s future is secured.
- Flexible Premium Payments: You can select the policy term and the premium payment term based on your financial needs.
- Tax Benefits: Premiums paid for term insurance plans are eligible for income tax3 benefits under Section 80C of the Income Tax Act, and the death benefit is usually tax-free under Section 10(10D).
What is the FlexiPay Benefit offered by Tata AIA Sampoorna Raksha Promise?
With the FlexiPay Benefit7 you can defer your premium payments for up to 12 months, offering temporary financial relief in case of unexpected situations.
What are the additional benefits for women policyholders?
Women policyholders who purchase Tata AIA Sampoorna Raksha Promise will get a 15% discount on their premium amount, making this plan more affordable for them.
Disclaimer
- Tata AIA Sampoorna Raksha Promise - Non-Linked, Non-Participating, pure risk, Individual Life Insurance Product (UIN:110N176V01)
*Illustrated Premium is the monthly premium excluding taxes for 20 yr. old female, Standard Life, Non-Smoker for 1 Cr. Sum Assured with Policy Term of 20 yrs. (Regular Pay) under Life Option. Please refer Benefit Illustration for more details. Premium is subject to applicable taxes, cesses & levies which will be entirely borne/ paid by the Policyholder, in addition to the payment of such Premium. Tata AIA Life shall have the right to claim, deduct, adjust, recover the amount of any applicable tax or imposition, levied by any statutory or administrative body, from the benefits payable under the Policy. Kindly refer the sales illustration for the exact premium.
1With this feature, instant death benefit of INR 3 Lacs from the Sum Assured will be paid within 1 working day from the claim registration date. This feature is applicable only after a waiting period of 3 policy years from the policy inception or revival of the policy and provided the policy is in force. The remaining SA shall be payable post the completion of the claim investigation. Further, in case of any discrepancy in the claim investigation resulting in the final decision of non-payment of the claim, the company reserves the right to recover the already paid amount. The acceleration of instant claim should not be construed/interpreted as acceptance of the claim.
2Individual Death Claim Settlement Ratio is 99.13% for FY 2023 - 24 as per the latest annual audited figures.
3Income Tax benefits would be available as per the prevailing income tax laws, subject to fulfillment of conditions stipulated therein. Income Tax laws are subject to change from time to time. Tata AIA Life Insurance Company Ltd. does not assume responsibility on tax implication mentioned anywhere in this document. Please consult your own tax consultant to know the tax benefits available to you.
4Rider is not mandatory and is available for a nominal extra cost. For more details on benefits, premiums, and exclusions under the Rider, please contact Tata AIA Life's Insurance Advisor/ branch.
Tata AIA Life Insurance Non-Linked Comprehensive Protection Rider (UIN:110B033V03 or any other later version) - A Non-Linked, Non- Participating Individual Health Rider, Tata AIA Life Insurance Non-Linked Comprehensive Health Rider (UIN: 110B031V03 or any other later version) - A Non-Linked, Non- Participating Individual Health Rider, Tata AIA Vitality Protect (A Non-Linked, Non- Participating Individual Health rider (UIN:110B046V02), Tata AIA Vitality Health (A Non-Linked, Non- Participating Individual Health rider (UIN:110B045V02) are available under this plan
577,26,727 families protected till December ’23.
6Applicable to only non-early claims with more than 3 years of policy duration, non-investigation cases, up to Sum Assured of Rs. 50 lakhs. Applicable for branch walk in. Time limit to submit claim to Tata AIA Life Insurance is 2 pm on working days. Subject to submission of complete documents. Not applicable for ULIP policies and open title claims.
7With FlexiPay Benefit, policyholder is allowed to defer the due premium for a period of 12 months while maintaining the full risk cover under the base plan and attached riders. At the end of Premium Deferment period, the policyholder is required to pay the due premiums, including the premium applicable for the period of Premium Deferment, i.e. the base cover premium and additional premium (if any). | This benefit shall be available for multiple times with a gap of 5 policy years from the expiry date of previous Premium Deferment. The option can be exercised only after payment of 5 full years premium. | No interest shall be levied on the premium due during the Premium Deferment period. If the premiums due are not paid within the grace period after expiry of the Premium Deferment, the Policy (including Rider(s), if any) shall lapse and no benefits shall be payable in the Policy or the Rider(s), if any) and company shall be entitled to recover the same from any amounts or This benefit payable under the Policy or Rider(s).
8Tata AIA Sampoorna Raksha Promise offers first year digital discount of 1% for Single Pay, 10% for Limited Pay/Regular Pay.
9Only one event is allowed per application. For SP, discount is 0.5% (Max 500)
10Tax benefits of up to ₹46,800 u/s 80C is calculated at highest tax slab rate of 31.20% (including cess excluding surcharge) on life insurance premium paid of ₹1,50,000 as per old tax regime. Tax benefits under the policy are subject to conditions laid under Section 80C, 80D,10(10D), 115BAC and other applicable provisions of the Income Tax Act,1961. Good and Service tax and Cess, if any will be charged extra as per prevailing rates. The Tax Free income is subject to conditions specified under section 10(10D) and other applicable provisions of the Income Tax Act,1961. Tax laws are subject to amendments made thereto from time to time. Please consult your tax advisor for details, before acting on above.
11This product offers first year premium discount of 5% for Limited Pay/Regular Pay and 1% for Single Pay to salaried customers.
12This product offers an additional first year premium discount of 2% for Limited/Regular Pay and 0.5% for Single Pay on reaching any one of the below mentioned life milestones:
1. Marriage - if policy is purchased within 6 months before or after the date of marriage
2. Birth/adoption of first child - if policy is purchased within 6 months before or after the birth/adoption date
3. First job - if policy is purchased within next 6 months of the joining date
4. Home loan - if policy is purchased within next 6 months of the loan getting sanctioned
Such discount is capped to a maximum of Rs. 500 over the year
This product is underwritten by Tata AIA Life Insurance Company Ltd.
Insurance cover is available under this product.
Rider is not mandatory and is available for a nominal extra cost. For more details on benefits, premiums, and exclusions under the Rider, please contact Tata AIA Life's Insurance Advisor/ branch.
This plan is not a guaranteed issuance plan, and it will be subject to Company’s underwriting and acceptance.
Premium will vary depending on the option chosen
Buying a Life Insurance Policy is a long-term commitment. An early termination of the Policy usually involves high costs, and the Surrender Value payable may be less than the all the Premiums Paid.
In case of POS variant, the product is available with/without medical underwriting as per BAUP (Board Approved Underwriting Policy)
In case of non-standard lives, extra premiums will be charged as per our underwriting guidelines.
^Under Life Promise Plus Option, an amount equal to the 100% of the Total Premiums Paid (excluding loading for modal premiums) shall be payable at the end of the Policy Term, provided the life assured survives till maturity and the policy is not terminated earlier.
For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale.
$This feature is not applicable for POS. Please refer brochure for additional details
L&C/Advt/2024/Aug/2298
IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint
Tata AIA Life Insurance © 2024. All Right Reserved.
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