Tata AIA Life Insurance
Group Sampoorna Raksha 

Non-Linked, Non-Participating, Group Protection Plan

Unity is strength. It is important that we take care of each other, while caring for our own families.. Group insurance plans allow members of the affinity group to extend the promise of Rakshakaran to their loved ones, which is the greatest gift one can give them, in addition to unconditional love and support

Tata AIA Life Insurance Group Sampoorna Raksha plan a comprehensive group insurance plan that provides protection in the event of unfortunate demise, illness, or disability of the insured. This plan can be offered to employer - employee groups, as well as non-employer - employee groups. Upon the demise of the insured, a benefit that is equal to the member’s sum assured, applicable at the time of their demise will be payable.

Key
Benefits

Coverage

Comprehensive coverage against death, illness, and disability of the insured member

Optional benefits

Choose one or more benefit options along with the death benefit

Multiple covers

Choose between level coverage, where sum assured remains unchanged, and reducing coverage, where the sum assured is linked to loan amount

Premium payment term

Multiple Premium payment term options

Benefits for women

Differential premium rates for women policyholders

Highlights of Tata AIA Life Insurance Group Sampoorna Raksha

Comprehensive benefit plan which offers financial protection in the event of death, illness, or disability of the insured member
Flexibility to choose between single life and joint life coverage
The policy term is flexible, and ranges from 1 month to 40 years
Avail tax benefits as per applicable tax laws

Disclaimer

  • Where the is a female, the premium would be different for women policyholders due to different incidence rates.
  • 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 in this document. Please consult your own tax consultant to know the tax benefits available to you.
  • This product is underwritten by Tata AIA Life Insurance Company Ltd. This plan is not a guaranteed issuance plan, and it will be subject to Company’s underwriting and acceptance.
  • Insurance cover is available under this product.
  • In case of non-standard lives, and on submission of non-standard age proof, extra premiums will be charged as per our underwriting guidelines.
  • All Premiums, Charges, and interest payable under the policy are exclusive of applicable taxes, duties, surcharge, cesses or levies which will be entirely borne/ paid by the Policyholder, in addition to the payment of such Premium, charges or interest. Tata AIA Life Insurance Company Ltd. shall have the right to claim, deduct, adjust and recover the amount of any applicable tax or imposition, levied by any statutory or administrative body, from the benefits payable under the Policy.
  • For more details on risk factors, benefit exclusions, terms and conditions, please read the sales brochure carefully before concluding a sale.

Frequently asked questions

What are group insurance plans?

Group insurance plans offer insurance cover to members of a group. They can either be members of a specific society, employees of a company, or a group of loan borrowers. Tata AIA Life Insurance group insurance plans extend a myriad of benefits to employer-employee groups, and non employer-employee groups. Members of these groups can get pure term, superannuation, gratuity, and loan cover among others.  

For instance, lending institutions can protect the money they lend to borrowers by purchasing credit life insurance plans, which removes the burden of outstanding debts from the shoulders of the borrowers’ families, in the event of their untimely demise. Similarly, employers can ensure the financial well-being of the families of their employees by purchasing group term insurance plans. It also helps employers retain their workforce, while meeting the statutory obligations via group insurance plans.

What are the benefits of group insurance plans?

Group insurance solutions benefit a variety of groups like employer-employee groups, non-employer-employee groups, and groups of loan borrowers from a common lender.

Benefits for employer-employee groups:

By purchasing group insurance, employers can ensure the financial security and well-being of their employees’ families. This is generally seen as a good practice, which motivates the employees, and increases employee satisfaction. Employers can also meet their statutory obligations by purchasing group insurance, while the premium paid by them can be treated as a business expense. This enables the employer to claim tax deductions.

The employees can also avail tax benefits on the premiums paid, while the funds they invest in are managed by experts.

Benefits for non employer-employee groups:

By purchasing group insurance, members of such groups can avail life cover, while credit life insurance plans provide cover against outstanding debts to the borrowers.

How do these group insurance plans work?

Group insurance policies can be purchased by either employer-employee groups, or non employer-employee groups, in order to ensure the financial well-being of the members’ families.

The non employer-employee groups can include members of a specific society, or can include borrowers from a common lender. Hence, such groups need to have a purpose of existence. Group insurance plans will also have a Master Policyholder, who will serve as the central administrator, and will act on behalf of the members of the group.

Can individuals purchase group insurance plans?

Individuals cannot purchase group insurance (UIN: 110N154V01)plans. In order to avail the benefits of a group insurance policy, one has to be a part of a specific group

Need help to choose the right plan?

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