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Life Insurance for Entrepreneurs

Life insurance for entrepreneurs provides financial protection for business assets, continuity for operations, and security for family members in ... Read more case of unforeseen events. Buying separate policies helps protect both family members and business partners. A personal plan supports loved ones, while a business-focused cover supports operations. Choosing the right life insurance for entrepreneurs requires attention to policy type, cost, and coverage so decisions stay aligned with long-term goals. Read less

Life insurance for entrepreneurs provides financial protection for ... Read more business assets, continuity for operations, and security for family members in case of unforeseen events. Buying separate policies helps protect both family members and business partners. A personal plan supports loved ones, while a business-focused cover supports operations. Choosing the right life insurance for entrepreneurs requires attention to policy type, cost, and coverage so decisions stay aligned with long-term goals. Read less

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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

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You Get (Life Cover)

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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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Tata AIA Sampoorna Raksha Promise - Non-Linked, Non-Participating, Pure Risk, Individual Life Insurance Product (UIN:110N176V11)

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Get ₹1 Crore Life Cover
@₹501/month¹

Up to 18.5% discount² (1^st year premium)
Return of premium³ option
4 hour claim settlement⁴

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What is life insurance for entrepreneurs?

A life insurance policy is a legal agreement between the insurer and the policyholder. Under this contract, beneficiaries receive a fixed payout if the insured person passes away during the policy term. Premiums must be paid on time to keep the policy active. As long as payments continue, the insured person is eligible for protection and related benefits throughout the chosen duration.

Why do entrepreneurs need life insurance?

Running a business often involves personal financial exposure. Income may fluctuate, expenses can rise suddenly, and debt obligations may continue regardless of circumstances. Life insurance acts as a financial backup during difficult times. It supports family members, settles dues, and brings clarity. Using a suitable life insurance plan helps reduce financial burden on loved ones while keeping commitments intact.

Many entrepreneurs face income swings that make long-term savings difficult. Regular household expenses may continue, while reserves may fall short. A policy payout offers funds to manage daily needs and planned expenses. Additionally, business loans often come with high interest and long tenures. If something unexpected happens, repayment duties shift to family members. Insurance proceeds can clear such liabilities and protect personal assets.

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Choose a Tata AIA term insurance plan that suits your needs

Tata AIA

Sampoorna Raksha Promise

Get ₹1 Cr cover at 501/month¹
Up to 18.5% discount² (1^st year premium)
Option to get all premiums back³

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Non-Linked, Non-Participating, Pure Risk, Individual Life Insurance Product (UIN:110N176V11)

Tata AIA

Maha Raksha Supreme Select

Get ₹2 Cr life cover at 680/month⁷
Up to 18.5% discount2 (1^st year premium)
Waiver of premium if diagnosed with Terminal illness

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Non-Linked, Non-Participating, Pure Risk, Individual Life Insurance Product (UIN: 110N171V14)

Types of life insurance policies for entrepreneurs

The following are the types of insurance for entrepreneurs.

Term plans
Term plans offer pure protection for a fixed duration. These plans suit entrepreneurs seeking high coverage to match loans or business liabilities during active years.
Endowment plans
Endowment plans combine insurance protection with maturity benefits. They suit individuals seeking structured savings alongside life cover.
Unit-linked Insurance plans (ULIPs)
ULIPs provide life cover with investment exposure to market-linked funds. Returns depend on fund performance across the policy term.
Whole life policies
Whole life policies provide coverage for an extended duration, often up to a specified age. They also accumulate cash value, supporting long-term family or succession planning.

What are the advantages of life insurance for entrepreneurs?

The life insurance for entrepreneurs offers many benefits, some of which are as follows:

Support for loan approval
In some cases, lenders want security before approving business funding. A life insurance cover can act as support for repayment assurance. The payout amount gives confidence to lenders, making it easy for entrepreneurs to access funds for expansion, inventory, or working capital requirements.
Key person coverage
Insurance taken out on crucial team members protects the firm against sudden financial loss. The payout supports hiring or training during transition periods.
Business continuity
A payout can help manage business costs like salaries, rent, bills, and vendor payments. This helps the business remain stable until a successor or transition plan is implemented.
Support for family members
Insurance proceeds help families meet living costs, education fees, and future plans if the policyholder dies during the policy term. This reduces financial burden during emotionally difficult periods.
Tax benefits
Premiums paid may qualify for tax⁶ deductions under applicable income tax provisions. Payouts received by beneficiaries are generally exempt*, subject to prevailing regulations.

What should entrepreneurs consider when buying a life insurance policy?

Consider the following when buying a life insurance policy.

Premium
Checking the premium rate ensures payment obligations remain manageable across varying income cycles without disturbing business cash flows.
Coverage requirement
The chosen coverage must consider family expenses, outstanding loans, employee obligations, and future financial milestones in a structured manner.
Policy structure
Individuals must choose between protection-focused or combined benefit policies based on personal and business requirements.
Duration of the policy
Policy duration should be aligned with business phases, partnership timelines, and expected financial responsibilities over specific periods.
Insurer track record
Review the insurer’s track record, its claim settlement history, financial standing, and service practices for long-term reliability.
Add-on riders
Add-on coverage options, such as accidental or critical illness riders5, provide additional financial arrangements for unforeseen health-related events.

Conclusion

Entrepreneurship brings freedom along with responsibility. Financial planning plays a vital role in managing that responsibility. A suitable policy safeguards family members, business partners, and long-term goals. With careful evaluation of coverage, tenure, and structure, entrepreneurs' life insurance planning becomes a key part of business continuity. A thoughtful selection can prevent financial strain and preserve stability during uncertain moments.

How is an insurance policy helpful for entrepreneurs?

An insurance policy supports business needs and family responsibilities. Coverage is often suggested at ten to fifteen times annual income, while also factoring in employee salaries and future expansion plans.

What type of life insurance is best for business owners?

Term life insurance may suit business owners due to lower premiums and high coverage. It protects against business debts and supports families if the entrepreneur passes away during the policy term.

Can life insurance provide tax benefits to entrepreneurs?

Yes, premiums may qualify for tax* deductions under Section 80C. Death benefits received by beneficiaries are generally exempt under Section 10(10D), as per income tax laws.

What additional coverage should entrepreneurs consider with life insurance?

Entrepreneurs may add disability or critical illness cover. These provide income or lump-sum support if illness or injury prevents the individual from continuing active work.

What are the tax advantages of life insurance for entrepreneurs?

Life insurance offers tax-free* death benefits and tax-deferred* cash value growth. In certain business policies, such as key person plans, premiums may qualify as deductible expenses.

Tata AIA Sampoorna Raksha Promise - Non-Linked, Non-Participating, pure risk, Individual Life Insurance Product (UIN:110N176V11)
Tata AIA Maha Raksha Supreme Select - Non-Linked, Non-Participating, Pure Risk, Individual Life Insurance Product (UIN: 110N171V14)
¹As per the duly approved product design and terms & conditions of the product, illustrated 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.
²As 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 8.5% salaried discount. For Single Pay, 1% discount will be available for online purchase and salaried discount each.
³Under 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.
⁴Applicable 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.
This product is underwritten by Tata AIA Life Insurance Company Ltd.
The 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.
For more details on 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.
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 non-standard lives and on submission of non-standard age proof, extra premiums will be charged as per our underwriting guidelines.
⁵Rider 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.
⁶Income 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.
No Goods and Service Tax shall be applicable on Individual life insurance products as per prevailing laws. Tax laws are subject to amendments from time to time. If any imposition (tax or otherwise) is levied by any statutory or administrative body under the Policy, Tata AIA Life Insurance Company Limited reserves the right to claim the same from the Policyholder.
⁷Illustrated Premium of ₹679 is the monthly premium 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.
L&C/Advt/2026/Feb/0916