How to use a term insurance calculator?

To use the Tata AIA term insurance premium calculator, simply visit our official website and go to the term insurance calculator page. Input the necessary details as requested on the calculator and proceed to verify your details and receive instant quotes.

How do I choose the best term plan?

To select the best term plan, you can start by selecting a sum assured depending on how much financial support your family needs in the future. Next, you can use a term policy calculator to select a policy term and a premium paying term to understand how to pay affordable premiums for your policy. The best term plan will be the one that suits the needs of your family.

What are the different Tata AIA Life Insurance term plans?

Tata AIA Life Insurance offers the following term insurance plans – Tata AIA Life Insurance Sampoorna Raksha Supreme (UIN: 110N160V03) Tata AIA Life Insurance Saral Jeevan Bima (UIN: 110N157V01) InstaProtect Solution

Are there tax benefits on term plans?

Yes, term insurance plans come with tax benefits under Section 80C and Section 10(10D) of the Income Tax Act. Under the former, the term plan premiums are tax-deductible up to a limit of Rs.1.5 Lakh per year, while under Section 10(10D), the death benefits are exempt from taxation$.

Is there any maturity benefit in pure term insurance?

No, a pure term insurance will only offer a death benefit to your beneficiaries in the event of your death during the policy term. There will be maturity benefits offered; the policy will expire at the end of the policy term.

What will happen to the death benefit in a term plan when the policy expires?

The death benefit in a term plan is only payable in case of the policyholder’s death during the policy term after which the coverage is terminated. This amount helps the policyholder’s beneficiaries deal with the loss of income in the absence of the insured. Since pure term plans do not have maturity benefits, the policy will simply expire at the end of the policy term if the policyholder survives the policy term and no other benefits will be paid out.

Term Insurance

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Term Insurance Calculator

Q: Can I purchase a term plan online?

Yes, you can purchase a term plan online by visiting the Tata AIA Life Insurance official website and going to the Buy Online section. Once you select a term plan of your choice, you can buy the plan and make the payment online in a few easy steps.

Q: What is the right age to stop term life insurance?

The aim of term insurance is to ensure the financial security of your family in the event of your untimely demise with a death benefit. Hence, if you have a term plan for a certain policy term, it is advisable to continue the insurance coverage until the end of the selected policy term. If you choose to stop the term plan, you risk leaving your loved ones vulnerable to financial hardships in your absence.

Q: How can one select the best term insurance plan?

You can choose the best term insurance plan by selecting the sum assured or the life insurance coverage as per the future needs of your family. In your absence, if your family needs to fulfil certain financial obligations, the sum assured should be adequate for their needs. By using a term plan calculator, you can also ensure that you pay reasonable premiums towards your policy, even if your sum assured is high. That way, you can keep the policy active and avoid missing out on premium payments.

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Term Insurance Calculator

Here's your customized plan

Get Life Cover of ₹1 Crore by paying a premium of

₹7,085/month (for 30 years)

₹8,287

saving Save ₹1,202 with discounts

₹ 4.2 Lakh

₹ 1 Crore

You Pay (Total)

You Get (Life Cover)

Our sales representative will connect with you soon to assist further

Discounts

2% Milestone discount

2% discount on 1st year premium on these milestones

Event	Eligibility
Wedding (1 wedding only)	Within 6 months before or after the date of wedding
Birth/ Adoption of 1^st child*	Within 6 months before or after the birth/ adoption date
Home loan	Within 6 months of loan getting sanctioned
First job	Within 6 months of joining date

*Policy issuance eligibility for female customers will be determined by Board Approved Underwriting Policy (BAUP)

The above milestones cannot be clubbed to avail more discount, Such discount shall be capped to a maximum of ₹500 over the year.

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Annual Income

Corporate Email Id

Tata AIA Sampoorna Raksha Promise - Non-Linked, Non-Participating, Pure Risk, Individual Life Insurance Product (UIN:110N176V08)

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Protect what matters most with our Term plans

Get ₹1 Cr life cover at ₹501/month¹
99.41% Claim Settlement Ratio²
4 hr Claim Settlement³

²Individual Death Claim Settlement Ratio. ³T&C apply

Term Insurance Calculator

Full name (First and last)

Date of birth

Are you an NRI?

Yes

Gender

Male

Female

Do you smoke?

Yes

Email ID

Calculate Premium

What is a Term Insurance Calculator?

The term insurance calculator is a free online tool that helps you estimate the right term insurance cover amount for yourself. This term insurance calculator takes into account your date of birth, policy term, annual income, and several other factors to determine adequate cover for you. You can find the term insurance plan that fits your needs and budget using this term plan calculator. You can use the term insurance calculator to make sure that your family is financially secure in the event of your absence.

How does a Term Insurance Calculator work?

With a term insurance calculator, you can estimate the ideal life cover using your financial and personal information. The term insurance calculator calculates the approximate sum assured of your term insurance and ensures that it aligns with your income, liabilities, and dependants.

A term insurance calculator is used to determine the right amount of coverage that would:

Replace a policyholder's income for a specified period of time
Cover the outstanding loans and liabilities
Ensure that major financial goals are met
Provide financial security to dependants after the untimely death of the policyholder

Tata AIA Term Insurance plans

Tata AIA

Sampoorna Raksha Promise

Get ₹1 Cr life cover @ ₹501/month¹
Up to 18.5% discount⁴ (1^st year premium)
Option to get all premiums back⁵

Calculate Premium

Non-Linked, Non-Participating, Pure Risk, Individual Life Insurance Product (UIN:110N176V08)

Tata AIA

Maha Raksha Supreme Select

Get ₹2 Cr life cover @ ₹692/month⁶
Up to 18.5% discount⁴ (1^st year premium)
Waiver of premium if diagnosed with terminal illness

Calculate Premium

Non-Linked, Non-Participating, Pure Risk, Individual Life Insurance Product (UIN: 110N171V12)

Why Opt for a Term Plan?

Large & Customisable

Coverage at affordable premiums

4 Hours

Express claim settlement³

Flexipay Benefit⁸

Option to defer premiums by up to 12 months⁷

Tax Benefits⁸

As per sections 80C and 10(10D)⁸

Joint Life Cover

Extend protection to your spouse

Our bestselling Term Plan – Tata AIA Sampoorna Raksha Promise

Instant Claim payout

Get instant payout of ₹3 Lakh on claim intimation⁹

Inbuilt premium waiver

On diagnosis of terminal illness

Pay premiums later

Option to defer premiums for up to 12 months⁷

Get 100% premium back

Receive all premiums back on policy maturity⁵

15% lower premium for women

Women insured pay 15% lower premium than men

8.5% salaried discount

Savings for salaried employees¹¹

10% digital discount

Discount on digital purchase¹²

Earn 5% Tata NeuCoins

On 1^st year premium payment. No max. capping¹³

Milestone discount

2% discount¹⁴ (up to ₹500) on 1^st year premium for first jobbers, newly-weds, new parents, recent homeowners

Accelerator benefit

Get 50% of base sum assured on diagnosis of terminal illness

Whole life cover

Leave a legacy with life cover up to 100 years of age¹⁰

Legacy planning

Transfer legacy sum assured to your child

Save tax up to ₹46,800¹⁵

Avail tax benefits⁸ as per section 80C

Plan options in Sampoorna Raksha Promise

	Life Promise		Life Promise Plus
Entry Age (Years)	Minimum	Maximum	Minimum	Maximum
Entry Age (Years)	18 years	65 years	18 years	65 years
Maturity Age (Years)	Minimum	Maximum	Minimum	Maximum
Maturity Age (Years)	18 years	100 years	28 years	100 years
Pay Premium For (Premium Payment Term in Months)	Minimum	Maximum	Minimum	Maximum
Pay Premium For (Premium Payment Term in Months)	Single Pay Limited Pay: 60 Regular Pay: 60	Single Pay Limited Pay: 563 Regular Pay: 564	Single Pay Limited Pay: 60 Regular Pay: 120	Single Pay Limited Pay: 563 Regular Pay: 564
Stay Covered For (Policy Term in Months)	Minimum	Maximum	Minimum	Maximum
Stay Covered For (Policy Term in Months)	Single Pay: 60 Limited Pay: 61 Regular Pay: 60	Single Pay: 564 Limited Pay: 564 Regular Pay: 564	Single Pay: 120 Limited Pay: 120 Regular Pay: 120	Single Pay: 564 Limited Pay: 564 Regular Pay: 564
Life Cover Amount (Base Sum Assured in ₹)	Minimum	Maximum	Minimum	Maximum
Life Cover Amount (Base Sum Assured in ₹)	25 Lakh	No Limit (Subject to Board approved underwriting policy (BAUP))	25 Lakh	No Limit (Subject to Board approved underwriting policy (BAUP))
Premium Payment Mode	Single Pay Annual Semi-annual Quarterly Monthly		Single Pay Annual Semi-annual Quarterly Monthly
Death Benefit	Highest of: 1.25 x Single Premium (excluding discount) or Death Benefit (DB) multiple x Annualised Premium (excluding discount) 105% of Total Premiums Paid (excluding loading for modal premiums and discount) up to date of death; or An absolute amount assured to be paid on death		Highest of: 1.25 x Single Premium (excluding discount) or Death Benefit (DB) multiple x Annualised Premium (excluding discount) 105% of Total Premiums Paid (excluding loading for modal premiums and discount) up to date of death; or An absolute amount assured to be paid on death
Option To Get Your Premium Amount Back⁵	No		Yes
Increase Life Cover at Important Milestones¹⁴ such as Marriage/Childbirth/home loan/First Job	Available		Available
Terminal Illness Cover	No		Payor accelerator benefit is payable on confirmed diagnosis of terminal illness of the life assured
Health Benefit	Available with Riders		Available with Riders
Income Benefit	No		No
Tax Benefit Up to ₹46,800¹⁵	Yes		Yes
Upfront Premium Discount¹²	Digital discount of 10% for Limited Pay/Regular Pay, 1% for Single Pay.		Digital discount of 10% for Limited Pay/Regular Pay, 1% for Single Pay.

Life Promise		Life Promise Plus
Entry Age (Years)
Minimum	Maximum	Minimum	Maximum
18 years	65 years	18 years	65 years
Maturity Age (Years)
Minimum	Maximum	Minimum	Maximum
18 years	100 years	28 years	100 years
Pay Premium For (Premium Payment Term in Months)
Minimum
Single Pay Limited Pay: ₹60 Regular Pay: ₹60		Single Pay Limited Pay: ₹60 Regular Pay: ₹120
Maximum
Single Pay Limited Pay: ₹563 Regular Pay: ₹564		Single Pay Limited Pay: ₹563 Regular Pay: ₹564
Stay Covered For (Policy Term in Months)
Minimum
Single Pay:₹60 Limited Pay: ₹60 Regular Pay: ₹61		Single Pay:₹120 Limited Pay: ₹120 Regular Pay: ₹120
Maximum
Single Pay:₹564 Limited Pay: ₹564 Regular Pay: ₹564		Single Pay:₹564 Limited Pay: ₹564 Regular Pay: ₹564
Life Cover Amount (Base Sum Assured in ₹)
Minimum
25 lakhs		25 lakhs
Maximum
No Limit (Subject to Board approved underwriting policy (BAUP))		No Limit (Subject to Board approved underwriting policy (BAUP))
Premium Payment Mode
Single Pay: Annual / Half-yearly / Quarterly / Monthly
Death Benefit
Highest of: • 1.25 x Single Premium (excluding discount) or DB multiple x Annualised Premium (excluding discount) • 105% of Total Premiums Paid (excluding loading for modal premiums and discount) up to date of death; or • An absolute amount assured to be paid on death		Highest of: • 1.25 x Single Premium (excluding discount) or DB multiple x Annualised Premium (excluding discount) • 105% of Total Premiums Paid (excluding loading for modal premiums and discount) up to date of death; or • An absolute amount assured to be paid on death
Option To Cover till Age Of 100 (Whole Life Coverage)
Yes		Yes
Option To Get Your Premium Amount^ Back**
No		Yes
Increase Life Cover at Important Milestones such as Marriage/Childbirth/home loan/First Job
Available		Available
Terminal Illness Cover
No		Payor accelerator benefit is payable on confirmed diagnosis of terminal illness of the life assured
Health Benefit
Available with Riders		Available with Riders
Income Benefit
No		No
Tax Benefit Up to Rs. 46,800⁹
Yes		Yes
Upfront Premium Discount
Discount of 1% of single premium or 5% on First year premiums for regular and limited pay.		Discount of 1% of single premium or 5% on First year premiums for regular and limited pay.

How Term Insurance Calculators Work

By considering an example, let's get a better understanding of how term insurance calculators work:

The 25-year-old Ravi, with an income of 10 lakhs annually, wants to secure his family's future through term insurance until he is 60 years old. He plans to purchase a term life insurance policy of 1 crore within a limited budget. However, he does not know how much term insurance coverage he needs. To find out his sum assured, he uses a term insurance calculator and enters his date of birth, cover up to the required age, and salary per year. Within seconds, Ravi is able to estimate his cover through the term insurance calculator, making it easy for him to make a well-informed choice.

How to calculate Term Insurance premium?

The Tata AIA term insurance calculator makes term insurance premium calculation easier. You can get the ideal coverage at a suitable price by following the steps below:

Step 1 - Personal Details

Begin by entering your full name and date of birth in DD/MM/YYYY format. Next, choose if you are an NRI, specify your gender, and respond truthfully regarding your smoking habits, since this has a major impact on your term life insurance premium calculator outcome.

Step 2 – Contact Details

Then, enter your mobile number to receive the OTP for verification. Also, share your email ID for further updates.

Step 3 – Policy Details

After verification, mention your preferred policy term and sum assured amount in rupees. Then, enter your annual income to check your eligibility and suggest a term insurance plan suitable to your needs. Finally, choose the preferred payment mode. The term plan premium calculator uses these details to determine the premium amount.

Step 4 – View Results

Click ‘Calculate Premium’ to get your personalised quote. The Tata AIA term life insurance calculator instantly processes your information to provide a premium estimate tailored to your specific needs and profile.

Key Factors that Affect Term Insurance Premiums

Insurance Requirements

Your expected requirements under a term plan play a significant role in determining your overall premium rate. These can vary depending on what stage of life you are in. Hence, different term plans will cater to different needs. For example, an increasing term plan will account for changing factors like inflation or increased living costs; a decreasing term plan can be used to cover the years needed to pay off a loan, etc.

Age

Younger individuals are charged lower term insurance premiums than older policyholders. This is because the younger you are, the less risk you pose and the less likely you are to develop serious health conditions. In other words, the same term plan will charge you a higher premium for the same coverage at an older age vs when you are younger. Premium rates under term plans also stay the same throughout the policy term. Hence, we recommend buying one early to maintain low-cost insurance cover over a longer tenure.

Coverage Amount

A higher sum assured may increase the premium amount. Generally, the minimum sum assured should be at least 15 - 20 times your annual income. This is because the term plan's sum assured should be enough to cover the needs of all your dependant family members. You should account for current living expenses, future needs, inflation rates, emergency expenses, any existing liabilities, and other financial obligations to ensure you pick the right amount for a death benefit payout. You can use a term insurance calculator to estimate the right coverage amount.

Policy Term

The longer the duration of your policy coverage, the lower your premium rates. Hence, if you are looking for cost-efficiency, we recommend going for a long-term policy. If you are unsure how long you will need term insurance coverage, assessing your financial goals and existing liabilities can help you decide. The ideal policy term should ensure that your financial responsibilities are fulfilled at 60 or 70 years of age.

Medical History

Your current health condition, i.e., whether you have a pre-existing illness, can affect your overall premium rates. This is because critical illnesses like cancer can increase the likelihood of premature death, thereby increasing your risk as a candidate. Always disclose any information regarding this factor honestly to the insurance agent. Hiding details of a pre-existing condition may violate policy terms, resulting in your family members being unable to claim the death benefit.

Lifestyle

Term insurance calculators in India may require you to enter lifestyle information like smoking status or alcohol consumption. For example, Tata AIA's term insurance plan calculator requires you to provide your smoking status. Certain lifestyle choices can increase your risk of developing health conditions, and as a result, increase your premium rates. This means individuals of the same age and gender with good lifestyle practices are charged lower premiums.

Occupation

Some insurers will charge candidates who work in relatively high-risk jobs like police officers, firefighters, miners, etc., a higher premium since these jobs increase their risk profile. Your occupation may not significantly affect overall premiums, but you should keep it in mind when applying for a term insurance plan or calculating premiums. In most cases, annual income and income proof are more important to an insurer, as they will determine your ability to pay premiums.

Gender

Term policy calculators factor in your gender when calculating premiums, as some insurers offer women affordable premium rates. The price difference between genders is not big enough to significantly impact the overall cost, but it still factors into the overall calculation. Women often lead longer lives than men and may require long-term coverage. At Tata AIA, we also offer preferential premium rates for women.

Benefits of a Term Plan Premium Calculator

Quick and Convenient:

You are not required to present any documents or go through any additional processes to get your premium estimates when using a term policy calculator. Once you have your quotes, you can immediately buy your Tata AIA term plan.

Accurate Quotes:

You get accurate and real-time estimates based on current inflation rates and other changing factors. This means you will know exactly how much your term policy will cost based on your current insurance requirements.

Allows for Better Financial Planning:

Since term insurance calculators in India offer accurate estimates and premiums stay the same throughout the policy term, you know exactly how much money to set aside to pay for your term plan. Thus, it allows for better financial planning.

Free and Cost-effective:

Term insurance premium calculator is a free tool offered by online insurers that anyone can use. Hence, using this tool during your online term policy purchase can allow you to easily access discounts and lower premium rates, helping you save funds in the long run.

Why Should You Use a Term Insurance Calculator?

A term insurance calculator helps you understand what premiums you have to pay and what coverage you can expect. It can help you in many ways. Some of these are:

Find the Right Coverage

It calculates the ideal sum assured by considering factors like your income, liabilities, lifestyle, and future goals. This is done to ensure your family is well covered and has financial security.

Helps you Compare Plans

You can check different premium amounts for various coverage options, helping you find the most cost-effective plan.

Budget-friendly Premium Estimates

By changing the term of the policy, coverage amount, and riders¹⁶, you can modify your policy to suit your budget.

Saves Time & Effort

No need for manual calculations—just enter your details, and the calculator provides instant estimates.

Rider¹⁶ Benefit Analysis

Some calculators also provide an option to add riders¹⁶ and see how add-ons like critical illness cover or accidental death benefit impact your premium.

Using a term insurance calculator ensures you make an informed decision, selecting a plan that meets your needs without overpaying. It’s a quick and hassle-free way to secure your family’s financial future with the right protection.

Impact of Term Insurance Premium Calculation on Smokers

Smokers may need to pay higher premiums for life insurance due to their higher health risks. If you've used tobacco regularly in the year before buying coverage, insurers may classify you as high-risk.
A term insurance calculator clearly shows this difference in pricing. When using a term insurance premium calculator, smokers will notice significantly higher rates for the same coverage compared to non-smokers.
The term plan calculator often helps smokers understand exactly how their habit affects costs.

Before applying, use a term policy calculator to compare these differences and make informed financial decisions.

How Your Job Affects Your Term Insurance Premium Calculation?

The risks involved in certain jobs like those of firefighters, construction workers, and pilots are higher. A high-risk profession may incur higher insurance premiums due to increased chances of accidents at work or health hazards.

A self-employed individual's term insurance premiums may be higher than those of a salaried individual due to their unstable income. These factors are assessed by insurers to determine the level of risk associated with an applicant and adjust premiums accordingly. Insurance rates can be higher for smokers and those in high-risk professions.

How Much Term Insurance Cover Do I Need?

Choosing the right term insurance cover for your family is essential since it is the amount your family will receive in the event of your unfortunate demise. Your family's financial needs should be covered by the sum assured in your absence. To estimate the life insurance coverage, you can use the Human Life Value (HLV) Calculator.

It is generally recommended to buy a term plan with a sum assured of at least 10 to 20 times your current annual income. As an example, if you are 30 years old with 10 LPA, your ideal life cover would be 2.5 crores. In the long run, this amount can help your family pay off any outstanding loans and manage rising costs due to inflation.

Can I Use a Term Insurance Calculator Without Giving My Personal Information?

Yes, you can use term insurance calculator without personal information. The calculator will provide you with an approximate estimate of your term insurance premium for your desired plan without requiring you to enter personal information.

You will need the following information to use the term insurance calculator without personal information:

Age
Gender
Tobacco Consumption
Cover Till Age
Cover Amount

Sample Illustration¹⁶

₹1 Crore Term Plans

Life Promise
1 Crore Life cover | Standard Life | Non-Smoker | Premium Payment term: 20 years | Regular Pay

Age	Monthly Premium		Annual Premium
	Male	Female	Male	Female
20 years	₹589	₹501	₹6,672	₹5,671
30 years	₹759	₹645	₹8,592	₹7,303
40 years	₹1,288	₹1,094	₹14,583	₹12,395

Life Promise Plus

Age	Monthly Premium		Annual Premium
	Male	Female	Male	Female
20 years	₹1406	₹1,195	₹15,921	₹13,533
30 years	₹2,042	₹1,735	₹23,123	₹19,654
40 years	₹3,997	₹3,957	₹45,265	₹38,475

₹2 Crore Term Plans

Life Promise

2 Crore Life cover | Standard Life | Non-Smoker | Premium Payment term: 20 years | Regular Pay

Age	Monthly Premium		Annual Premium
	Male	Female	Male	Female
20 years	₹946	₹804	₹10,709	₹9,101
30 years	₹1,275	₹1,083	₹14,436	₹12,270
40 years	₹2,348	₹1,995	₹26,586	₹22,597

Life Promise Plus

Age	Monthly Premium		Annual Premium
	Male	Female	Male	Female
20 years	₹2,042	₹1,736	₹23,130	₹19,660
30 years	₹3,041	₹2,585	₹34,437	₹29,270
40 years	₹6,482	₹5,510	₹73,412	₹62,400

₹3 Crore Term Plans

Life Promise

3 Crore Life cover | Standard Life | Non-Smoker | Premium Payment term: 20 years | Regular Pay

Age	Monthly Premium		Annual Premium
	Male	Female	Male	Female
20 years	₹1,364	₹1,159	₹15,451	₹13,131
30 years	₹1,857	₹1,579	₹20,034	₹17,877
40 years	₹3,504	₹2,978	₹39,679	₹33,725

Life Promise Plus

Age	Monthly Premium		Annual Premium
	Male	Female	Male	Female
20 years	₹2,934	₹2,494	₹33,226	₹28,240
30 years	₹4,390	₹3,731	₹49,716	₹42,258
40 years	₹9,550	₹8,117	₹1,08,154	₹91,930

Premiums shown are excluding taxes

Enhance your coverage with riders¹⁶

Tata AIA

Vitality Health

39 Critical Illness covered including minor stage illness
Pays fixed amount on Hospitalization and on ICU admission

Download

Non-Linked, Non-Participating, Pure Risk, Individual Life Insurance Product (UIN:110N176V05)

Tata AIA

Non-Linked Comprehensive Protection Rider

Financial protection against Death, Accidental Death/Disability and Illness
40 Critical Illnesses covered including Cancer and Cardiac arrest

Download

Non-Linked, Non-Participating, Pure Risk, Individual Life Insurance Product (UIN: 110N171V08)

Why choose Tata AIA Life Insurance?

89 Lakh+

Families protected¹⁷ so far

₹7,00,000 Crore+

#1 in Retail Sum Assured¹⁸

1 Lakh Crore+

Assets Under Management
(AUM)¹⁹

500+ Branches

Presence across major cities in India

99.41%

Individual Death Claim
Settlement Ratio for FY24-25²

4 Hours

Express Claim Settlement³

Steps to buy a Term Plan online

The following is a breakdown of some steps that may help you understand how you can buy a term insurance plan online.

Step 1: Use Tata AIA's term insurance calculator to check available plans. Enter your details into the term plan calculator to get an estimate of your costs. The term insurance premium calculator can assist you in knowing how much you could pay depending on your age and requirements.
Step 2: You may consider additional protections known as riders¹⁶. The term insurance plan calculator indicates the ways these riders¹⁶ can affect your premium. You can use a reliable term life insurance calculator to compare various combinations to obtain the best value for the plan.
Step 3: Provide your personal details in the online form. Upload your ID proof and income documents. The term plan premium calculator can give a precise premium according to these details.
Step 4: Next, in a few instances, you will have to do a health check-up in your desired location. This tends to help the insurer set your final premium amount.
Step 5: Review all details, make any needed corrections, and submit your form. Pay the necessary premium amount using secure methods. Additionally, you may utilise the term insurance calculator India to get assistance in monitoring your protection.

How to Claim Term Insurance?

Here’s how to claim term insurance:

Step 1: Inform the Insurer

To begin the claims process, the claimant must inform the insurance company. The insurer can be contacted in person, over the phone, via email, or even online.

Step 2: Submit the Claim Form and Documents

To support the claim, several documents along with a duly filled-out claims form are required. The claim form can be obtained from the insurer's website or branch office. In some cases, the insurer may ask to submit additional documents.

Step 3: Claim Approval and Payout

The insurance company evaluates the documents and decides whether to approve or reject the claim after receiving all the required information. If the claim is approved, the due benefit will be paid according to the payout option chosen during the policy purchase.

Testimonials - Term Insurance Customers

Jeetendra Dhiman

Tata AIA

Sampoorna Raksha 12 Dec 2024

Provides financial protection to my dependent family members.

Jatin Zala

Tata AIA

Sampoorna Raksha 17 Dec 2024

My experience was excellent. The seamless purchase process, easy plan comparison, and responsive customer support made decision-making effortless

Kanchan Sharma

Tata AIA

Sampoorna Raksha 12 Dec 2024

Offers flexibility with payments. I was able to defer my premium without losing coverage.

Generic
Policy
Cover
Premium
Claim

1.Why use a term insurance calculator?

A term insurance calculator should be used since it is a quick, simple and free-of-cost way to calculate your term insurance premium.

2.How to use Tata AIA’s term insurance calculator?

Here is a step-by-step process on how to use Tata AIA's term plan calculator:

Enter your details
Enter your details in the given fields like name (first and last name), date of birth, gender, smoking status and a valid phone number to authenticate via OTP. Enter your email ID for futher updates.

Choose your Sum Assured and Policy Term
Now choose your plan duration, preferred sum assured along with your income and payment frequency and click on ‘Calculate Premium’

Get customized quote
Now, you’ll be able to see the premium amount for your preferred life cover/sum assured, policy term and payment frequency.

Compare options
You can now compare your premium rates by changing the input parameters like sum assured, policy term, payment frequency and occupation. This will allow you to buy the best Tata AIA term insurance plan for you and your family.

3.Can I purchase a term plan online?

Yes, you can purchase a term plan online by visiting here. Once you have selected the right sum assured, policy term, payment term and frequency, you can buy the plan and make the payment online in a few easy steps.

4.Why is a term plan important?

A term plan is important because it offers comprehensive life cover protection to your family at very affordable premiums. In case of an unforeseen eventuality, the sum assured will financially support your family so that they can sustain themselves.

5.Can I have different life insurance plans along with a term plan?

Yes, you can have different life insurance plans as well as a term plan based on your and your family’s insurance needs.

6.What are the three main advantages of having term insurance?

Though term insurance offers multiple benefits, here are the three primary benefits of term plans:

Simple and easy to understand
High sum assured at comparatively affordable premiums
Flexible policy terms and premium paying terms allow customisation based on needs

7.What is the right age to stop term life insurance?

Term insurance helps ensure the financial security of your family in case of your untimely demise with a death benefit. Hence, if you have a term policy, it is advisable to continue the insurance coverage until the end of the selected policy term.

8.How can one select the best term insurance plan?

The suitable term plan is one that suits your needs based on your lifestyle, the family’s needs, debts and other emergency needs. Also consider your premium payment capacity so that you can pay the premiums on time and avail yourself of life insurance coverage.

9. Can I safely purchase term insurance online?

Yes, you can safely buy term insurance online when you buy a term plan from the official website of Tata AIA Life Insurance.

10. What are the different types of life insurance plans?

The different types of life insurance plans are as given below:

Term Insurance
Term Insurance with Return of Premium
Term + Wealth Plans
Savings Plans
Child Insurance Plans
Whole Life Insurance Plans
Endowment Insurance Plans
Unit-Linked Insurance Plans (ULIPs)
Retirement Plans
Money Back Insurance Plans
Group Insurance
Combo Plans

11.What is the Married Women's Property (MWP) Act, and who is it useful for?

The Married Women’s Property (MWP) Act allows a married man to buy a life insurance policy in the name of his wife and children, ensuring the proceeds go only to them. These proceeds are protected from creditors, thus safeguarding the family’s financial future.

12.Who can be added as a beneficiary under the MWP Act?

The beneficiaries you can add to a term insurance policy under the MWPA can be your wife, your child/children, or your wife + children.

You can assign a certain percentage of the sum assured to each beneficiary or divide it into equal parts.

13.How much tax can I save with a term plan?

You can claim up to ₹1.5 Lakh in the form of tax⁸ deductions on your term insurance premiums each year under Section 80C of the Income Tax Act. Also, the beneficiary amount is tax-deductible under Section 10(10D).

14.What are the tax benefits⁸ on the death benefit of my term plan?

The death benefit of your term insurance plan, payable to your beneficiaries on death, is exempt from tax⁸ under Section 10(10D) of the Income Tax Act.

1.What are the popular Tata AIA Life Insurance term plans?

Tata AIA offers 2 distinct term insurance plans under its catalogue:

Tata AIA Sampoorna Raksha Promise - Non-Linked, Non-Participating, pure risk, Individual Life Insurance Product (UIN:110N176V08)
Tata AIA Maha Raksha Supreme Select - Non-Linked, Non-Participating, Pure Risk, Individual Life Insurance Product (UIN: 110N171V12)

You can opt for coverage among any of these term plans to ensure your family stays protected in your absence. If you are uncertain about what term plan to choose, feel free to use our term insurance calculator to compare quotes and policy benefits.

2.Are all the term plans the same?

No, not all term plans have the same offerings. For example, some term plans only offer pure protection, while others offer a return on the premium. Some other term plans can also offer life cover along with an income option.

3.Is a term insurance calculator the same as other life insurance calculators?

No, a term plan premium calculator differs from other life insurance calculators. For instance, a ULIP calculator shows the estimated returns you can receive on your policy, while a term insurance plan estimates the required premium, sum assured, and coverage

4.What will happen if my nominee passes away before me?

If your term policy nominee passes away before you, the proceeds of your term life insurance policy will be paid to the alternate beneficiary designated in your policy. Therefore, in such a scenario, you should select a new nominee. You can contact us if you have concerns about your term life insurance policy or beneficiary designation.

5. Will I get the same benefits on a term plan as any other form of life insurance in India?

No, the benefits offered by a term plan are different from other life insurance plan benefits. For example, a savings plan will enable you to save a financial corpus, while a term plan offers extensive life cover benefits for your family.

6.Can the nominee be changed after I have purchased the policy?

Yes, you can change the nominee in term insurance after purchasing the policy. You can contact us if you want to change the nominee in your policy, and we will assist you with the process and the necessary documentation.

7.Can pregnant women purchase a term policy?

Yes, pregnant women can purchase a term insurance policy, subject to certain policy terms and conditions.

8. Can housewives purchase a term policy?

Yes, housewives can purchase a term plan based on their family’s needs. You can calculate reasonable premiums of your choice using our term insurance calculator. This can help you pay affordable premiums while protecting your family.

9. Are there any special advantages available for women?

Tata AIA term insurance plans offer lower premium rates to women policyholders than their male counterparts due to their longer life expectancy.

1. What are the types of deaths are covered in term plans?

Term plans cover various forms of death. However, they do have specific guidelines on suicide and self-inflicted injuries such as adventure or hazardous activities.

Generally, most insurers only cover suicide after the first 12 months from policy commencement. For any deaths due to suicide before this time frame, the insurance company will only pay 80% of the premiums paid in the first year to the policy nominee.

2. What benefits does a term plan offer?

A pure term plan offers a death benefit to the family of the policyholder in case of the latter’s untimely death during the policy year and no maturity benefits. However, a return of premium term plan offers a 100% return on the premiums⁵ if the policyholder survives the term.

3. Can I add riders to my term plan?

YYes, you can add riders¹⁶ to your term plan depending on the need. A critical illness rider¹⁶ will cover upon diagnosis of a critical illness covered under it. A waiver of premium cover provides waive off premiums in case of permanent and total disability or other conditions as stated under the rider.

4. How many riders do I add to my term plan?

The number of riders¹⁶ you add to your term plan will be based on your need. However, additional riders mean an additional premium, and so, to keep your premium payments in check, choose only the ridersyou deem necessary.

5.Will I need to mention medical details on a term insurance calculator?

No, the Tata AIA Life Insurance term insurance calculator does not need your medical tests or reports..

6.How to get the best term insurance coverage?

To choose the best term insurance coverage, be sure to analyse your insurance needs, research all term plans, use a term insurance premium calculator to calculate the premiums. You can then choose a policy that suits you and your family well based on the coverage and the premiums.

7. What type of deaths are covered in term plans?

Term plans cover all types of death; however, there may be specific guidelines regarding death by suicide. If you need additional life insurance coverage for your family in case of accidental death, you can add an accidental death benefit rider¹⁶ or a similar rider¹⁶ to your term plan.

8. What is the maximum cover I can get for a term plan without providing medical documents?

The insurance coverage available for a term plan without providing medical documents depends on important factors like lifestyle, age and family medical history. However, it is subject to policy terms and underwriting conditions.

9. What is a lump sum payout, and who should choose it?

A lump sum payout is a benefit payout mode that provides the death benefit proceeds as a single lump sum amount to your beneficiaries upon your death. It can be a good option if your family needs a large sum of money immediately to repay debts for financial security.

10. What is a monthly income plan, and who should choose it?

A monthly income plan is a regular income option under a term insurance policy. This payout mode allows your beneficiary to receive the death benefit in monthly payments rather than as a lump sum.

1. Will I get the right premiums with a term insurance calculator?

Term insurance calculators are reliable, providing instant and accurate estimations and quotes based on your input. They mitigate the chances of human errors occurring during calculations. To ensure relevant estimates under your chosen policy, make sure your details are correct and up to date.

2. Can I use a term insurance calculator while renewing my term plan?

It is preferable to use a term insurance calculator before you purchase a term insurance policy, as you cannot adjust your premium payments when renewing your term plan.

3. Can I increase or decrease my premium amount on the calculator?

Yes, you can adjust the premium amount on the calculator by changing some of the variables on the calculator. However, ensure you provide the right details so that you can get accurate term insurance premium quotes.

4. Will my premiums increase if I purchase a term plan close to retirement?

Yes, the older you get, the higher your premiums will be. Hence, when you are close to retirement, your premiums will be higher than when you first started working.

5. Will my term plan lapse if I don’t make a premium payment?

Yes. Premiums must be paid by the due date to keep the policy active. Most policies have an additional grace period of 15 or 30 days to pay due premiums without affecting the benefits

6.How much premium should one pay for ₹1 Crore term insurance?

The premium amount depends on the chosen tenure, age, and policy benefits. With the help of a term insurance calculator, you can easily calculate the premium amount for your 1 crore term insurance and also choose a tenure for affordable amounts

7. How is the term life insurance premium amount computed?

Your term life insurance premium is calculated based on your age, health, family’s medical history, lifestyle habits, profession, and other factors that may pose a health risk. When you use a term plan premium calculator, these factors are considered to determine the premium amount.

8. How does your age affect your term plan premium?

At a younger age, the risk of health issues is lower. So, term plan premiums will be low. As you age, the risk of illnesses increase, requiring proportionate life insurance coverage. Hence, the premiums increase.

9. Will my occupation impact my term insurance premium?

If you have a risky occupation or a job where your life or your health may be at risk, your term plan premiums will be high. For instance, a person who is in the mining work will have a higher term plan premium as compared to a teacher or professor.

10.Which factors determine the term insurance premium?

Your term insurance premium will be determined as per your age, term policy sum assured, premium paying, and policy term. Also, other factors like your health condition, family’s medical history, occupation, and lifestyle habits are considered.

11. What is the impact on term policy premiums for smokers?

If you are a smoker, your term insurance premiums will be higher due to a higher risk of health issues. You can use a term plan calculator to know your premium amount. However, you can’t avail yourself of any special premium rates offered to women policyholders and non-smokers

1.How many times can one file a term insurance claim?

A term insurance claim can only be filed once in case the policyholder meets their untimely demise during the policy tenure. Once the death benefit is paid out to the nominee, the coverage ends, and no other benefits can be offered on the policy.

2.How do I file a term insurance claim?

To file a term insurance claim, contact us through any of the following channels:

Email : customercare@tataaia.com
Call - 1860-266-9966 (local charges apply)
Visit us at any Tata AIA Life Insurance Company branch office.
Write 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

3.What are the different term insurance claims that can be filed?

You can file a death claim on a term insurance policy. In case you have added a critical illness cover to your plan, you can also file a claim for the same if you are diagnosed with a critical illness.

4.How can I ensure that my family receives a timely death benefit?

To ensure your family receives a timely death benefit, choose a reputable insurance provider with a high claim settlement ratio and fill out your insurance proposal form with correctly.

Tata AIA Life Insurance has an individual death claim settlement ratio of 99.13% for FY 2023-24².

5.What if my nominees want to file a claim in India from another country?

If your nominee wants to file the claim from outside India, they can upload the attested copies of the essential documents online and send them to us by email. To file a claim offline, they can courier these documents to their representative in India, who can submit them to us at any of our offices.

6.Are COVID-19 claims covered under the Tata AIA term policy?

Yes, all Tata AIA term insurance policies are designed to cover COVID-19-related death claims.

7.Can a claim be rejected?

A claim can be rejected due to different reasons. These are some of the common reasons for claim rejection:

False information in the policy proposal form.
Withholding crucial health-related information during policy purchase.
Wrong or incorrect nominee details/information.

8.Will the claim be settled if I die within one year of the policy purchase?

Tata AIA settles claims for all deaths, subject to the completion of some premium payments. In the case of death by suicide within the first policy year, the claim will be settled as per specific policy terms.

Tata AIA Sampoorna Raksha Promise - Non-Linked, Non-Participating, pure risk, Individual Life Insurance Product (UIN:110N176V08)
Tata AIA Maha Raksha Supreme Select - Non-Linked, Non-Participating, Pure Risk, Individual Life Insurance Product (UIN: 110N171V12)
¹Illustrated premium of ₹501 is the monthly premium for a 20 yr. old female, Standard Life, Non-Smoker for ₹1 Cr. Sum Assured with Policy Term of 20 yrs. (Regular Pay) under Life Promise Option of Tata AIA Sampoorna Raksha Promise with first year premium discount of 10% for digital purchase and 8.5% for salaried person. Please refer Benefit Illustration for more details.
²Individual Death Claim Settlement Ratio is 99.41% for FY 2024-25.
³Applicable to only non-early claims with 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 Life Insurance is 2 pm on working days. Subject to submission of complete documents. Not applicable for ULIP policies and open title claims.
⁴This includes first year digital discount of 10% for Limited Pay/Regular Pay and 8.5% salaried discount. For Single Pay, 1% discount will be available for online purchase and salaried discount each.
⁵Under 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.
⁶Illustrated Premium of ₹692 is the monthly premium excluding taxes for 20 yr. old female, Standard Life, Non-Smoker for 2 Cr. Sum Assured with Policy Term of 20 yrs. (Regular Pay) with Life Secure plan option of Tata AIA Maha Raksha Supreme Select with first year premium discount for digital purchase and salaried person.
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).
⁸Income 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.
⁹With this feature, instant death benefit of ₹3 Lakh 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 sum assured 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. Applicable only for policies with minimum Sum Assured of INR 1 Cr.
¹⁰Not applicable under PoS, please refer sales brochure for more information
¹¹As per the duly approved product design and terms & conditions of the product, this includes first year salaried discount of 8.5% for Limited Pay/Regular Pay and 1% for Single Pay.
¹²As per the duly approved product design and terms & conditions of the product, this includes first year digital discount of 10% for Limited Pay/Regular Pay and 1% for Single Pay.
¹³As per the duly approved product design and terms & conditions of the product, Earn flat 5% Tata NeuCoins on insurance premium payment for Limited/Regular Pay policies, applicable for the 1st year. For Single Pay policies, 0.5% of premium can be earned as NeuCoins. There’s no capping on the maximum amount that can be earned. Benefits will reflect in your Tata Neu wallet 30 days after policy issuance. These points can be used to shop on Tata Neu across various categories like fashion, electronics and groceries.
¹⁴This 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:
Marriage - if policy is purchased within 6 months before or after the date of marriage
Childbirth/Adoption - if policy is purchased within 6 months before or after the birth/adoption date
First job - if policy is purchased within next 6 months of the joining date
Home loan - if policy is purchased within next 6 months of the loan getting sanctioned
Such discount is capped to a maximum of ₹500 over the year.
¹⁵Tax 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.
¹⁶Rider 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.
¹⁷89,43,554 families protected till 31st May 2025.
¹⁸Retail Sum Assured for FY2024-25 is ₹7,90,982 Crore.
¹⁹As on 31st March 2025, the company has a total Assets Under Management (AUM) of ₹130,053 Crore
Tata AIA Life Insurance Non-Linked Comprehensive Protection Rider (UIN:110B033V04 or any other later version) - A Non-Linked, Non- Participating Individual Health Rider, Tata AIA Vitality Health (A Non-Linked, Non- Participating Individual Health rider (UIN:110B045V03) are available under this plan.
This product is underwritten by Tata AIA Life Insurance Company Ltd.
Insurance cover is available under this product.
In case of non-standard lives, extra premiums will be charged as per our underwriting guidelines.
For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale.
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)
L&C/Advt/2025/Sep/3297