Param Rakshak Plus solution comprises of Tata AIA Life Insurance Smart Sampoorna Raksha, A Unit-linked, Non-participating, Individual Life Insurance Plan for Savings and Protection (UIN:110L156V03), Tata AIA Vitality Protect Plus, A Non-Linked, Non- Participating Individual Health rider (UIN: 110A048V03) and Tata AIA Vitality Health Plus, A Non-linked, Non-participating, Individual Health Rider (UIN: 110A047V02).
Tata AIA Life Insurance Smart Sampoorna Raksha is also available individually for sale.
In this policy, the investment risk in investment portfolio is borne by the policyholder.
Premium calculator
Why opt for Param Rakshak Plus?
Why Ulip?
ULIP stands for Unit Linked Insurance Plan, which is a type of insurance product that combines the benefits of life insurance and investment in a single plan. In ULIP, a portion of the premium paid by the policyholder is used for life insurance coverage, while the remaining amount is invested in various equity, debt or balanced funds as per the policyholder's preference.
ULIPs are suitable for individuals who are looking for a long-term investment option with the added benefit of life insurance coverage. It is recommended that one should carefully evaluate the ULIP plan and its charges before investing in it.
Advantages of investing in ULIP
Life Insurance Coverage
ULIPs provide life insurance coverage along with investment benefits. In the event of the policyholder's untimely demise, the nominee receives the sum assured or the fund value, whichever is higher.
Investment Flexibility
ULIPs offer the flexibility of choosing between different funds based on the policyholder's risk appetite and share market investment goals. The policyholder can switch between different funds as per their financial goals and market conditions.
Potential for Higher Returns
ULIPs offer the potential for higher returns compared to traditional life insurance policies. As ULIPs invest in equity, debt or balanced funds, the returns are linked to the market performance.
Tax Benefits
ULIPs offer tax benefits* under Section 80C of the Income Tax Act, which allows the policyholder to claim a deduction of up to Rs. 1.5 Lakh from their taxable income.
Wealth Creation
ULIPs can help in wealth creation over the long term by providing market-linked returns$.
Easy Liquidity
ULIPs allow Liquidity after a specified lock-in period, which helps in meeting short-term financial needs.
%%Sample Illustration : Param Rakshak Plus Solution
Age |
Policy Payment Term |
Policy term | Sum Assured (₹) | Annual Premium (₹) |
Monthly Premium (₹) |
Annual Mode Fund Value& @4% (₹) |
Annual Mode Fund Value& @8% (₹) |
Monthly Mode Fund Value (₹) |
40 |
5 |
40 | ₹50,00,000 |
₹1,98,715 |
₹17,002 |
₹6,23,525 |
₹32,78,065 |
₹30,32,753 |
35 |
5 |
40 | ₹1,00,00,000 |
₹2,36,752 |
₹20,160 |
₹8,40,945 |
₹44,91,945 |
₹42,06,628 |
40 |
5 |
40 | ₹1,00,00,000 |
₹3,21,944 |
₹27,341 |
₹12,47,044 |
₹79,75,820 |
₹74,86,255 |
40 |
10 |
40 | ₹50,00,000 |
₹1,14,500 |
₹9,785 |
₹6,23,525 |
₹38,69,889 |
₹36,09,047 |
| 30 | 10 | 40 | ₹1,00,00,000 |
₹1,04,360 | ₹8,887 | ₹8,16,112 | ₹34,32,200 | ₹32,52,766 |
| 35 | 10 | 40 | ₹1,00,00,000 |
₹1,40,221 | ₹11,923 | ₹11,62,042 | ₹52,61,381 | ₹49,48,610 |
| 40 | 10 | 40 | ₹1,00,00,000 |
₹1,87,510 | ₹15,907 | ₹16,53,350 | ₹86,30,695 | ₹81,09,012 |
| 40 | 12 | 40 | ₹50,00,000 |
₹1,00,698 | ₹8,601 | ₹9,18,840 | ₹40,99,561 | ₹38,33,217 |
| 35 | 12 | 40 | ₹1,00,00,000 |
₹1,19,154 | ₹10,133 | ₹11,92,417 | ₹48,79,758 | ₹45,86,501 |
| 40 | 12 | 40 | ₹1,00,00,000 |
₹1,65,771 | ₹14,055 | ₹18,37,664 | ₹89,45,233 | ₹84,12,709 |
Fund allocation in Multi Cap Fund 100%. Give get denotes how much you pay versus how much you receive in return. Give-get of 3 means, you will receive 3 times of what you have paid
&Some Benefits are guaranteed and some Benefits are variable (non-guaranteed) with returns based on the future performance of the opted funds and fulfilment of other applicable Policy conditions. If your Policy offers guaranteed returns, then these will be clearly marked as "guaranteed" in the illustration table on this page. If your policy offers non-guaranteed returns, then illustration will show two different rates of assumed future investment returns. The above illustration has been determined using assumed future investment returns of 8% and 4% respectively. The rates used have been set by the Life Insurance Council. These assumed rates of return are not guaranteed and there are no upper and lower limits of what you might get back at Maturity, due to the fact that the value of your Policy is dependent on a number of factors including future investment performance.
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.
Rider Options
Additional coverage that can be added to your insurance policy
A Non-Linked, Non- Participating Individual Health rider (UIN: 110A047V02)
Tata AIA
Vitality Health Plus
Enroll in Tata AIA Vitality to get discount on your premium
Tata AIA
Vitality Health Plus
39 Critical Illness covered including minor stage illness
Pays fixed amount on Hospitalization and on ICU admission
A Non-Linked, Non- Participating Individual Health rider (UIN: 110A048V03)
Tata AIA
Vitality Protect Plus
Offers protection against 40 Critical Illness including Cancer & Cardiac conditions
Tata AIA
Vitality Protect Plus
Extended protection to your loved ones too under the same plan.
Return of balance premium$
Tax benefits* as per applicable laws.
Tata AIA has delivered benchmark beating performance across funds
| Last 5 Years #Returns | Since Inception ''Returns | |||
| Tata AIA Funds | Fund Return (%) |
Benchmark Return (%) |
Fund Return (%) |
Benchmark Return (%) |
| Multi Cap Fund | 26.86% | 15.91% | 22.19% | 13.72% |
| India Consumption Fund | 26.86% | 15.91% | 21.47% | 13.72% |
| Top 200 Fund | 26.82% | 15.91% | 19.45% | 15.80% |
#Data as on May 31st,2024. Past performance is not indicative of future performance.
- Fund Benchmark: Multi Cap Fund- S&P BSE 200; India Consumption Fund- S&P BSE 200; Top 200 Fund- S&P BSE 200; SFIN: Multi Cap Fund- ULIF 06015/0714 MCF 110; Top 200 Fund- ULIF 02712/01/09 IIT 110; India Consumption Fund- ULIF 06115/0714 ICF 110. ''Inception Dates:Top 200 Fund:12 Jan 2009, Multi Cap Fund:05 Oct 2015, India Consumption Fund:05 Oct 2015.
- Other funds are also available under this solution
Tata AIA
A name you can count on
99.13%
Individual Death Claim Settlement Ratio^
4 Hours
Express Claim Settlement2
T&C Apply2
Rs 4,43,479 Crores
5Retail Sum Assured for FY2023
78 Lakhs+
Families protected so far3
Downloads
Frequently Asked Questions(FAQs)
What is the minimum premium that I have to pay if I purchase the Param Rakshak Plus solution?
If you are purchasing the Param Rakshak Plus solution, the minimum premium amount, depending upon the premium payment term, is as follows.
Base Plan Premium: 5 Pay – Rs. 60,000 per annum
Other Premium payment terms – Rs. 18,000 per annum
What is the premium payment frequency for this life insurance plan?
You can pay your premium for this plan annually, half yearly, quarterly or monthly.
How can I raise a claim under this life insurance policy?
You can choose any of the following channels to reach out to us and raise a claim.
Email us at: customercare@tataaia.com
Call our helpline number - 1860-266-9966 (local charges apply)
Walk into any of the TALIC branch offices
Write directly to us at:
The Claims Department,
Tata AIA Life Insurance Company Limited
B- Wing, 9th Floor,
I-Think Techno Campus,
Behind TCS, Pokhran Road No.2,
Close to Eastern Express Highway,
Thane (West) 400 607.
IRDA Regn. No. 110
What documents would I require to buy an insurance policy?
You will have to submit the following mandatory documents to buy an insurance policy.
Proof of address:
The following documents are accepted as valid proof of your address.
Bank Statement (or passbook) with the latest entries for six months
Aadhaar card
Passport
Voter's ID
Driving license
Electricity/telephone bill
Ration card
Proof of identity:
Some of the documents that are accepted as valid proof of your identity include:
PAN card
Aadhaar card
Passport
Driving license
Documents showing proof of income:
These documents, which are required only for a few plans, include:
Salary slips of the previous 3 months
Income tax returns/Employer certificate
Bank statement of the previous 6 months
Latest Form 16
How different is ULIP investment from SIP investment and Mutual Fund investment?
ULIP (Unit Linked Insurance Plan) is a combination of insurance and investment, where a part of the premium goes towards life coverage, and the rest is invested in equity or debt funds. You can estimate investment and returns with the help of a ULIP calculator or consulting a TATA AIA advisor.
SIP (Systematic Investment Plan) is an investment method in which a fixed amount is invested at regular intervals in a mutual fund, helping in rupee cost averaging. By utilising a SIP calculator and opting for the best SIP plan, investors can benefit from disciplined investing.
Mutual Fund: A Mutual Fund is a pool of money collected from multiple investors and managed by a professional fund manager who invests in diversified assets like stocks, bonds, or money market instruments based on the fund's objective. Unlike ULIP, mutual funds do not provide life insurance coverage. A good way to start investing is by planning funds and weighing goals with the help of a mutual fund calculator.
Disclaimer
- THE LINKED INSURANCE PRODUCT DO NOT OFFER ANY LIQUIDITY DURING THE FIRST FIVE YEARS OF THE CONTRACT. THE POLICY HOLDER WILL NOT BE ABLE TO SURRENDER/WITHDRAW THE MONIES INVESTED IN LINKED INSURANCE PRODUCTS COMPLETELY OR PARTIALLY TILL THE END OF THE FIFTH YEAR.
- Param Rakshak Plus solution comprises of Tata AIA Life Insurance Smart Sampoorna Raksha, A Unit-linked, Non-participating, Individual Life Insurance Plan for Savings and Protection (UIN:110L156V03), Tata AIA Vitality Protect Plus, A Non-Linked, Non- Participating Individual Health rider (UIN: 110A048V03) and Tata AIA Vitality Health Plus, A Non-linked, Non-participating, Individual Health Rider (UIN: 110A047V02). Tata AIA Life Insurance Smart Sampoorna Raksha is also available individually for sale.
- The solutions are not guaranteed issuance solutions and it will be subject to Company’s underwriting and acceptance. 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 all the premium paid. Unit Linked Life Insurance products are different from traditional insurance products and are subject to risk factors. The fund is managed by Tata AIA Life Insurance Company Ltd. (hereinafter the “Company”). Tata AIA Life Insurance Company Limited is only the name of the Insurance Company & Tata AIA Life Insurance Smart Sampoorna Raksha is only the name of the Unit Linked Life Insurance contract and does not in any way indicate the quality of the contract, its future prospects or returns. Various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these plans, their future prospects and returns. Premium paid in Unit Linked Life Insurance policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions. Past performance is not indicative of future performance.
- $The premium paid in Unit Linked Life Insurance policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions. The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these plans, their future prospects and returns. On survival to the end of the policy term, the Total Fund Value including Top-Up Premium Fund Value valued at applicable NAV on the date of Maturity will be paid.
- Returns are calculated on an absolute basis for a period of less than (or equal to) a year, with reinvestment of dividends (if any). Life insurance cover is available under the solution. For details on products, associated risk factors, terms and conditions please read Sales Brochure carefully before concluding a sale. The precise terms and condition of this plan are specified in the Policy Contract.
- ++All funds open for new business which have completed 5 years since inception are rated 4 or 5 star by Morningstar~ as of May’24.
- ~©2024 Morningstar. All rights reserved. The Morningstar name is a registered trademark of Morningstar, Inc. in India and other jurisdictions. The information contained here: (1) includes the proprietary information of Morningstar, Inc. and its affiliates, including, without limitation, Morningstar India Private Limited (“Morningstar”); (2) may not be copied, redistributed or used, by any means, in whole or in part, without the prior, written consent of Morningstar; (3) is not warranted to be complete, accurate or timely; and (4) may be drawn from data published on various dates and procured from various sources and (5) shall not be construed as an offer to buy or sell any security or other investment vehicle. Neither Morningstar, Inc. nor any of its affiliates (including, without limitation, Morningstar) nor any of their officers, directors, employees, associates or agents shall be responsible or liable for any trading decisions, damages or other losses resulting directly or indirectly from the information..
- **Subject to a maximum term of 40 years
- *Income Tax benefits would be available as per the prevailing income tax laws, subject to fulfilment 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 implications mentioned anywhere on this site. Please consult your own tax consultant to know the tax benefits available to you.
- +Tax 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. 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.
- 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.
- Insurance cover is available under this product. This product is underwritten by Tata AIA Life Insurance Company Limited. The plan is not a guaranteed issuance plan and it will be subject to Company’s underwriting and acceptance. This product will be offered to Standard lives only.
- The fund is managed by Tata AIA Life Insurance Company Ltd.
- For more details on risk factors, terms and conditions of respective individual product and riders mentioned herein, please read Sales Brochure carefully before concluding a sale. The precise terms and conditions of this plan are specified in the Policy Contract.
- Past performance is not indicative of future performance. Returns are calculated on an absolute basis for a period of less than (or equal to) a year, with reinvestment of dividends (if any).
- Investments are subject to market risks. The Company does not guarantee any assured returns. The investment income and price may go down as well as up depending on several factors influencing the market.
- Please make your own independent decision after consulting your financial or other professional advisor.
- Unit Linked Life Insurance products are different from the traditional insurance products and are subject to the risk factors. Please know the associated risks and the applicable charges, from your Insurance Agent or Intermediary or Policy Document issued by the Insurance Company.
- Various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these plans, their prospects and returns. The underlying Fund's NAV will be affected by interest rates and the performance of the underlying stocks.
- The performance of the managed portfolios and funds is not guaranteed, and the value may increase or decrease in accordance with the future experience of the managed portfolios and funds.
- Please know the associated risks and the applicable charges, from your insurance agent or the Intermediary or policy document issued by the Insurance Company.
- All investments made by the Company are subject to market risks. The Company does not guarantee any assured returns. The investment income and price may go down as well as up depending on several factors influencing the market. Please know the associated risks and the applicable charges, from your Insurance Agent or the Intermediary or Policy Document issued by the Insurance Company. Please make your own independent decision after consulting your financial or other professional advisor. The performance of the managed portfolios and funds is not guaranteed and the value may increase or decrease in accordance with the future experience of the managed portfolios and funds. The solutions are underwritten by Tata AIA Life Insurance Company Limited.
- Whilst every care has been taken in the preparation of this content, it is subject to correction and markets may not perform in a similar fashion based on factors influencing the capital and debt markets; hence this advertisement does not individually confer any legal rights or duties. This is not an investment advice, please make your own independent decision after consulting your financial or other professional advisor.
- $$Tata AIA Vitality - A Wellness Program that offers you an upfront discount at policy inception. You can also earn premium discount / cover booster (as applicable) for subsequent years on policy anniversary basis your Vitality Status (tracked on Vitality app) (2) Please refer rider brochures for additional details on health and wellness benefits.
- ##On enrolling into the wellness Program, you get an upfront discount of 5% on first year premium for Accidental Death, Accidental Total & Permanent Disability and of 10% on first year premiums of CritiCarePlus; HospiCare premiums. The rewards are offered on cumulative basis and in any year, the maximum rewards in view of both the upfront rewards and annual rewards together shall be 15% for Accidental Death, Accidental Total & Permanent Disability and 30% for CritiCarePlus; HospiCare . Discount is driven by accumulated points which is achieved through wellness status. Please refer policy document for more details.
- Vitality is a trademark licensed to Tata AIA Life by Amplify Health Assets PTE. Limited, a joint venture between Vitality Group International, INC. and AIA Company Limited. The assessment under the wellness program (Tata AIA Vitality) shall not be considered as a medical advice or a substitute to a consultation/treatment by a professional medical practitioner.
- 377,26,727 families protected till December ’23.
- ^Individual Death Claim Settlement Ratio is 99.13% for FY 2023-24 as per the latest annual audited figures.
- 5Retail Sum Assured for FY2023 is Rs 4,43,479 Crores
- 2Applicable to only non-early claims more than 3 years of policy duration, non-investigation cases, up to Sum assured of 50 Lakh. Applicable for branch walk in. Time limit to submit claim to Tata AIA by 2 pm (working days). Subject to submission of complete documents. Not applicable to ULIP policies and open title claims.
- L&C/Advt/2024/Jun/1700
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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