Term Insurance Plan with Return of Premium

1.What factors affect premium rates for my term plan with return of premium?
The factors that affect your TROP premiums rate will be the same as they are for a pure term policy. These are:
● You age.
● Your medical history
● Your lifestyle (E.g., smoking, drinking, adventure sports).
●Your chosen policy tenure, sum assured and optional riders^**, if any.

2.How does smoking or drinking alcohol affect TROP plan premiums?
Like any other life insurance policy, your lifestyle habits like smoking will affect your term plan premiums, be it a pure term plan or a term plan with return on premium term insurance. This is because smokers incur a higher risk in their lives as compared to non-smokers.

3.What is the grace period for Tata AIA's term plan with return of premium?
Tata AIA's term plan with return of premium has a grace period of 30 days for annual, half-yearly and quarterly frequencies from the due date of the last paid premium, while the grace period for monthly frequency is 15 days from the due date of the last paid premium.

4.What is the premium payment frequency under a TROP?
With a Tata AIA term plan with return of premium, you can choose from the monthly, quarterly, half-yearly, annual and single premium payment frequencies.

5.What happens if one is unable to pay the premiums for their Tata AIA TROP policy?
If you are unable to pay the premium on your TROP until the end of the grace period, then your policy can be converted into a paid-up policy. Only once you pay all the unpaid premiums and revive your policy can the plan become valid again.

6.Can I determine my TROP policy cost before my purchase?
Yes, you can calculate your term insurance premiums online with a term insurance calculator before you compare and buy a policy that is not only affordable for you but also meets your needs.

7.Will a return of premium term insurance be more expensive?
Yes, since they offer a dual benefit, the premiums for TROP plans will be higher than pure term plan premiums.

8.What discounts can I get on my Tata AIA term plan with return of premium?
This will depend on the term policy you choose. Some general discounts and value-added services we offer are preferential rates for women and non-smokers, free annual health check-ups and medical teleconsultation services.

1.Can I opt for riders under a term plan with return of premium?
Yes, you can add riders** with your term plan with return of premium to increase your policy coverage depending on the rider options available under the policy.

2.How long should I keep my term plan with a return of premium?
You can choose your TROP policy tenure to be as long as you need. While most term plans offer coverage for 5 - 40 years, Tata AIA offers a whole life cover of up to 100 years.

3.What type of coverage is offered under a term plan with return of premium?
Like a regular term plan, you are offered pure risk coverage during the policy's term. The only difference here is that you also get survival benefits. All other general exclusions and inclusions for term plans will apply to term plans with return of premiums. E.g., suicide exclusion during the first policy year.

With Tata AIA's term plan with return of premium, you get term coverage and a 105% return of the total premiums* paid towards the policy on maturity.

4.Should I buy a regular term insurance plan or a term plan with return of premium?
Choosing between a term plan and a term plan with a return of premium will depend on your needs. A pure term plan is for those who only want extensive life cover protection from their policy with a death benefit.

However, if you want maturity benefits from your term plan, where the premiums paid on your life insurance will be returned to you on maturity, then a term plan with the premium return is a good choice.

1.What claims can I file under my term plan with return of premium?
You and your family can file two types of claims under a TROP policy: a death settlement claim and a maturity benefit claim. The death claim should be filed within 30 days of the policyholder's death and the maturity claim can only be filed once the policy ends.

2.What is the death benefit under return of premium term insurance plan?
Under a return of premium term insurance plan, the death benefit is the total sum assured of the policy that will be paid out to the nominee/nominees if the policyholder passes away during the policy term.

3.Can you get your money back from a term insurance plan on maturity?
If you buy a term insurance plan with a return of premium, you can receive a total of all the premiums paid at the end of the policy term if you survive the policy term. The same is not possible with a pure term plan that only offers a life cover with death benefits and no maturity benefits.

4.How do I file a claim under my Tata AIA for my term plan with return of premium?
You can file a claim with us through any of the following channels:
● Call our helpline number - 1860-266-9966 (local charges apply)
● Email us at: customercare@tataaia.com
● Visit us at any of our Tata AIA Life Insurance Company branch offices
● 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

5.What documents do I need when filing a claim under my term plans with return of premium
You will need three main documents when filing a term insurance claim: The claims form (filled and signed), the policy certificate and the policyholder's death certificate (for death claims). If you want to know the complete list of documents needed, please visit our claims settlement page

6.What is the claim procedure of the nominee is outside of India?
If the nominee wants to file a claim from outside of India, they can upload copies of their documents online or send them to us by email. For the offline procedure, the nominee will have to mail the documents to their representative in India who can then visit any of our office branches to file the claim.

7.Can the claim be filed at the same branch from where the policy was purchased?
Yes, you can file the claim on your term insurance with return of premium at the same branch where the policy was purchased or you can visit any of the Tata AIA Life Insurance office branches to file a claim.

1.Can I safely buy a term plan with a return of premium online?
Yes, it is safe to purchase a term plan with a return of premium* online. You should buy it from your insurance provider's official website. This not only allows you to compare different policies but also safeguards your personal information. At Tata AIA Life Insurance, we ensure that your personal and financial information is never compromised.

2.Which life insurance companies offer term insurance plans with a return of premium?
Tata AIA Life Insurance offers term insurance plans with a return of premium, where you can choose the policy term, the premium paying term, the sum assured, and riders of your choice. Before you purchase your policy, you can compare different plans to find one that matches your needs.

3.Can I change my Tata AIA policy payment terms?
Yes, with Tata AIA, you can choose your premium payment options between monthly/quarterly/half-yearly/annual payments. Your payment frequency can also be changed in the future by logging into your Online Policy A/C' to make the required changes.