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Life insurance is one of the most basic and fundamental forms of disciplined financial planning that you can extend to your family. At Tata AIA, we have consistently upheld #RakshakaranKiReet – the tradition of protection! Ensure Sampoorna Rakshakaran, i.e., complete protection for your family by choosing a term insurance plan.
Term insurance is a life insurance policy product that provides a pure risk cover to the insured for very affordable premiums. During the policy term, if any unfortunate event occurs such as untimely demise of the life assured, then the nominee receives the sum assured in the form of a death benefit as per-defined under the policy terms and conditions. This death benefit is paid out as per the payout option selected by the customer while purchasing the policy.
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It is easy to buy a term insurance plan for two main reasons. For one, you can buy term insurance online and secondly, the premiums for term insurance amount are quite affordable. Moreover, you can calculate your term insurance premiums amount online before purchasing the plan to find out the premium cost.
To keep the policy in force, it is necessary to pay the premium before the due date. Tata AIA allows you to select the premium payment mode and frequency for your term plan so that you can pay your term insurance premiums at your own convenience and maintain your lifetime term insurance for years!
Term insurance plans are quite popular for the extensive coverage they offer. Hence, with a term plan, you can rest assured that your family's future financial needs can easily be covered even during unforeseen circumstances such as death of the life assured. The death benefit from a term plan can cover even the most major expenses in the future such as your child's further education or the purchase of a new home and more.
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Tata AIA Life Insurance Sampoorna Raksha
Supreme
(UIN: 110N160V02)
If you want to calculate your term insurance premium, you can check the various term insurance plans offered on our website and use our online term plan calculator to get the desired quotes!
A term insurance policy plan is one of the most affordable financial instruments you can purchase to secure the financial future of your loved ones. Also, the earlier you purchase the less premium you need to pay. With an increase in age, your premium amount may also increase as years do pass.
Buying a term plan online gives you flexible options when it comes to selecting the desired sum assured and enhancing the coverage with rider benefits. You can choose to purchase a rider which will extend your coverage more effectively.
When you buy online term insurance policy, it can be convenient as you are not restricted to only a single platform. Be it a smartphone, a tablet or a laptop, you can make the purchase from the comfort of your home or even when you’re travelling. Moreover, the policy purchase involves just a few steps, making the process simple and hassle-free!
Purchasing your term policy online enables you to choose your sum assured so that you can get adequate coverage. Term insurance policies offer this flexibility since every person’s insurance needs are not the same. To understand how much sum assured you should opt for, ensure that the cover is at least 10 times of your annual income.
Online term insurance calculators make it easier for you to buy a term policy online. With this online tool, you only need to specify some details of your insurance requirement and the calculator automatically fetches the premium quotes. Once you compare the quotes, you can pick a policy based on the premium amount and the coverage that is practical for you.
Getting term insurance policy online is quite reliable as you can directly purchase the plan from the insurance provider’s official website. Apart from that, you can look up the detailed features, benefits, exclusions, cover offered etc., of the plan right on the website. And before you purchase the plan, you can also look up the claim settlement ratio of your preferred insurance provider for better transparency. Did you know? Tata AIA Life Insurance has provided a claim settlement ratio of 98.02%* for FY 20 – 21.
After you buy your term insurance plan online, you can log on to the website anytime you need to access your policy document. That way, your policy is free from the risk of being lost or misplaced. With the help of your policy number and registered contact details, you can view the policy at your convenience.
Online term plans let you choose from quick, secure and convenient payment options during the purchase. You can also opt from these options while paying the amount of your premium based on the mode and frequency selected by you.
Benefits of Buying Term Insurance plan
Term plans offer a simple but extensive risk cover for affordable premiums, unlike other life insurance plans. The sum assured is higher than the total amount of premiums paid for the policy. The sum assured amount is adequate enough for your family’s financial commitments in your absence.
The sum assured of a term insurance plan can be sufficient to support your family in case of a medical emergency or illness. Tata AIA Life Insurance Sampoorna Raksha Supreme plan offers an inbuilt Payor Accelerator benefit wherein you can receive 50% of the basic sum in case of a terminal illness diagnosis. This is one of the major benefits of our term insurance plan.
To get the benefits for life insurance, choose a plan that offers a longer coverage. Tata AIA Life Insurance Sampoorna Raksha Supreme, offers whole life coverage up to 100 years^ of age. That way, you can ensure that you and your family are protected for your whole life.
Term plan riders offer benefits for term life insurance when it comes to emergencies that may result in a disability for you and the subsequent loss of income for your family. For example, you can add our Tata AIA Life Insurance Non-Linked Comprehensive Protection Rider~~ to your term policy and receive the benefits in case such an event occurs.
In your absence, a term insurance plan ensures that your family receives the sum assured as a death benefit, as per their convenience and requirements. You can choose from different payout options, either a lump sum amount or monthly income or a combination of both with our term plans.
Unpaid loans and debts or unexpected financial or medical emergencies can be difficult for your family to handle in your absence. But when you have a term plan, the sum assured received as a death benefit can provide adequate financial assistance to your loved ones and they need not worry about unsettled debts or their daily sustenance.
Though term plans offer sufficient financial coverage, some emergencies need to be tackled with additional rider benefits. Our optional riders can be added to your term policy at an additional premium and help you cover critical illnesses, accidental death and disability, hospitalization expenses, loss of income and much more.
Our term insurance policies offer flexible premium payment options so that you can enjoy term insurance coverage without worrying about premium payments. Choose from Single Pay, Regular Pay or Limited Pay or pay the amount of your premium on an annual, half-yearly, quarterly, or monthly basis, as you want.
Term insurance premium amount paid towards the policy are eligible for tax deductions as per applicable tax~ laws. The sum assured amount offered as part of the death benefit by the plan are exempt from taxes.
While pure term plans do not offer any survival benefits, our Tata AIA Life Insurance Sampoorna Raksha Supreme term plan with a return of premium option can offer you a 105% return on the total premiums** paid towards the policy on maturity. Such a term insurance plan with a maturity benefit can be useful for you.
Though there is no ideal time to get a term insurance plan, it is advisable to buy term insurance plan online as early as possible. At a younger age, you can benefit from lower premiums, owing to good health and the lack of any serious illnesses. As you age, there is always a possibility of suffering from age-related conditions, which can lead to an increase in your premiums amount as year passes.
While term insurance has always been important for everyone, its significance has become even more pronounced in the last two years due to the deadly pandemic and its fatal threat. With a term plan, the financial impact caused by the pandemic can be considerably reduced. Term insurance plans are well-equipped to provide financial support to your loved ones in case the infection leads to something more unfortunate such as the death of the life assured..
With a term plan, you can claim tax deductions as per applicable tax laws. With a critical illness benefit, the premium amount paid under this cover are eligible for tax deductions as per the applicable tax~ laws.
Term plans let you choose from flexible policy terms or opt for the maximum policy term that is available. You can even choose our Tata AIA Life Insurance Sampoorna Raksha Supreme term insurance plan that offers coverage up to 100 years of age^, a whole life coverage insurance plan.
You can buy a term insurance plan as early as 18 years of age as that is the minimum entry age for a policy buyer. You need not wait until later to purchase a simple term plan.
The death benefit payout in a term plan can be offered to your beneficiaries, either as a lump sum, a regular income or a combination of both, depending on what you choose at the time of the policy’s inception.
Pure risk term plans do not offer maturity benefits if the policyholder survives the term. However, our term insurance plan with a return of premium can offer you a 105% return on the total term insurance premiums paid towards the plan.
You can choose to pay your term plan premiums amount by choosing from flexible payment modes such as Single Pay, Limited Pay and Regular Pay or premium payment frequencies such as monthly, quarterly, half-yearly or annually.
Term plans come with extensive life insurance coverage for your family’s needs. However, the term insurance premiums to be paid for keeping the policy in effect are quite affordable such that they do not interfere with your other expenses.
Our term insurance plans offer different plan options that you can choose from as per your needs. Moreover, our term plans also let you choose between a Single Life option for yourself or a Joint Life option for another person under the same policy.
Term insurance plans let you increase your sum assured with the changing needs at each stage of your life. Our Life Stage option enables you to increase your term plan cover during the important events and milestones in your life.
You can add optional rider benefits to your term insurance plan to cover a variety of risks and emergencies such as accidental death and disability, critical illnesses or choose the waiver of premium rider in case of loss of income.
Our term plans can be easily purchased online on our official website while getting an offline policy is also a straightforward process for which you can visit any of our office branches given on the website.
We offer a smooth and hassle-free claims process which you can file through our official website on our claims page. Moreover, if you need help with your claims, you can contact us and we will assist you. With our Express Claim and Easy claim service, your claims will be settled quickly.
Riders are additional covers or benefits that you can add to your term insurance policy for an additional premium to enhance or extend the coverage of the base plan for well-rounded protection against various situations and illnesses. Tata AIA Life Insurance offers the below riders which you can choose from and add to your term insurance plan.
Tata AIA Life Insurance Waiver of Premium Plus Rider (WOPP)
Waives off the base plan’s future premiums if the policyholder is unable to pay the amount of term insurance premiums due to death, total and permanent disability due to an illness or accident.
Tata AIA Life Insurance Non-Linked Comprehensive Protection Rider
Choice of one or more risk covers, including death, critical and terminal illness, accidental death/disability, etc., and option to receive the benefit either as a lump-sum, fixed period income, income till the survival of the partner or as a waiver of premium.
Tata AIA Life Insurance Non-Linked Comprehensive Health Rider
Choice of one or more risk covers, including illness, hospitalisation and disability. Provides coverage against minor illnesses or injuries, major illnesses and enables multiple claims.
Tata AIA Life Insurance Accidental Death and Dismemberment (Long Scale) (ADDL) Rider
Provides a lump-sum benefit to beneficiaries in case of the policyholder’s accidental death. The beneficiaries receive a percentage of the rider sum assured in case of accidental burns, disability or dismemberment. Under specific conditions, the death benefit paid out is doubled.
Before buying a term insurance policy, it is important to determine the coverage you need to protect your family. You can use our online term insurance calculator to understand the sum assured your family should receive in your absence and ensure that it covers all their financial needs and emergencies.
The term insurance premium calculator helps you compare plans on the basis of the premium. Hence, be sure that the amount of the term insurance premiums you choose to pay for your plan account for sufficient coverage.
While you can purchase a policy as per eligible age applicable for the product, it is always advisable to get a term plan as early as possible to avail of low term insurance premiums in return for higher insurance coverage for your family.
Choose a payout option that is in sync with your family’s requirements so that the death benefit payout can be received accordingly. If your loved ones need a regular income for a fixed period, you can go ahead with this choice or choose a lump sum payout. Alternatively, you can also choose a combination of a fixed period income and lump sum if it suits your beneficiaries.
Consider the claim settlement ratio of the insurance provider as it determines their ability to settle your claims effectively and on time when the need arises. Higher the claim settlement ratio, better the chances of your beneficiaries receiving the claim on time. Tata AIA Life Insurance has a claim settlement ratio of 98.02%* for FY 2020 – 21.
The insurance provider you buy your term insurance plan from should offer a range of beneficial riders that can enhance the coverage of your term insurance plan. The riders should offer benefits such as protection against critical illnesses, accidental death and disability, waiver of premium benefits and so on.
Always ensure that the sum assured you select for your family’s needs also accounts for the inflation rates over the years. The financial needs your family has today will not be the same after 10 years and so, consider how much more coverage they will need in the future.
It is always better to compare various term insurance plans and make an informed choice instead of picking the first plan you see. The term policy comparison helps you decide which features and benefits are best suited for your needs.
If you want to understand how to choose a term life insurance plan, you can get some help from your financial advisor or even contact us through our official website for further assistance.
Reading the insurance policy’s terms and conditions is a must. It helps you understand the plan in detail and most importantly, make note of what the policy does not cover. This can be helpful while buying the term insurance online policy so that in future your beneficiaries do not face any confusion regarding the policy.
If you want to understand how to buy online term insurance, you should first estimate how much sum assured your family needs to sustain themselves in your absence. You can also use a term plan calculator to understand the coverage needed to support your loved ones.
You can then add your choice of optional riders to the term insurance plan and then proceed further to get instant premium quotes. Once you find a suitable quote, you can choose the plan accordingly.
After the selection of the plan, you can pick any of the easy online payment options at the checkout and make the payment online.
The Tata AIA Life Insurance Sampoorna Raksha Supreme offers four varied plan options with insurance for life cover and you can select any of them for affordable premiums.
You can enjoy whole life insurance cover up to 100 years of age^ with Tata AIA Life Insurance Sampoorna Raksha Supreme term insurance plan.
With a suitable rider~~, you can avail of term insurance with critical illness cover, so that you and your family can be protected against the financial repercussions of the critical illness.
Depending on the plan option you choose, you can avail of a death benefit as well as a regular income.
Yes, you can buy term insurance plans online. In fact, when you purchase a term plan online, you can compare various plans and choose a suitable one.
Tata AIA Life Insurance term plans cover all types of death. However, if the correct details are not submitted while filing a claim, the claim process may take longer due to an investigation.
To understand how much term insurance coverage you need and how to choose the term insurance plan in India, consider your family’s financial needs, any major future expenses, medical and financial emergencies and also factor in the inflation rate over the years. This will help you determine the term insurance cover you need.
Though people can have more than one term insurance plan, it is better to have a single policy whose coverage suffices for your family’s needs. With multiple term insurance plans, the burden of remembering term insurance premium payments dates and the insurance cost increases and can become difficult to maintain.
Some important factors that affect the term insurance cost are – the policyholder’s age, profession, gender, current health condition and medical history, smoking habits, their family’s medical history and the number of dependents in the family.
The term insurance policies offered by Tata AIA Life Insurance are Tata AIA Life Insurance Sampoorna Raksha Supreme, Tata AIA Life Insurance Saral Jeevan Bima and the InstaProtect Solution.
Yes, under Tata AIA Life Insurance Sampoorna Raksha Supreme, you can choose from 4 different plan options – Life Option, Life Plus Option, Life Income Option and Credit Protect Option.
Yes, Tata AIA Life Insurance offers a free look period of 15 days on the term insurance plans purchased offline while the free look period is extended to 30 days in case of term plans purchased online.
Term insurance premiums paid towards the policy are eligible for tax deductions and the death benefits qualify for tax exemptions as per applicable tax laws
Do any Tata AIA term insurance plans offer a return on premiums?
Yes, Tata AIA Life Insurance Sampoorna Raksha Supreme’s Life Plus Option offers a 105% return of premium** on the total premiums paid at the end of the policy term, if the policy stays in effect until then.
Do Tata AIA term insurance plans offer whole life coverage?
Yes, Tata AIA Life Insurance Sampoorna Raksha Supreme term insurance plans offer whole life insurance cover till the age of 100 years^.
The sum assured of a term insurance plan will be based on the financial support needed by your family at a future date. Therefore, you will have to consider all their expenses, any major events, outstanding loans and debts as well as the inflation rate while deciding on a term plan sum assured.
These are the following riders you can add to your Tata AIA term insurance plan:
Waiver of Premium Plus Rider (WOPP)
Non-Linked Comprehensive Protection Rider
Non-Linked Comprehensive Health Rider
Accidental Death and Dismemberment (Long Scale) (ADDL) Rider
Can the term insurance plan coverage be increased when needed?
Yes, if you want to increase your term insurance coverage, you can pick the Life Stage# option under Tata AIA Life Insurance Sampoorna Raksha Supreme and increase your cover at every important milestone in your life that calls for greater insurance protection.
The inbuilt Payor Accelerator benefit is a feature under the Tata AIA Life Insurance Sampoorna Raksha Supreme plan that offers 50% of the base sum assured to the policyholder in case of a terminal illness diagnosis.
The claim settlement ratio of insurance providers helps you understand if they will be able to settle your claims on time without any hassles. A higher term plan claim settlement ratio is a good indicator and means that the insurance provider has settled maximum claims in a financial year out of all the claims received. Tata AIA Life Insurance has a claim settlement ratio of 98.02%* for FY 2020 – 21.
If you want to know about all the term life insurance policy documents needed for the claim intimation and settlement process, please click here.
If you want to file a claim with us, you can choose any of the options below –
Send us an email at: customercare@tataaia.com
Call our helpline number - 1860-266-9966 (local charges apply)
Visit any of our Tata AIA Life Insurance Company branch offices
Write to us at the below address:
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
You can file the following claims with Tata AIA Life Insurance term plans -
Death claim
Cashless and reimbursement claim
Hospitalisation and dismemberment claim
Natural calamity claim
Death of Payor claim
Critical illness and disability claim
Yes, if a nominee from outside India wants to file a claim, they can upload attested copies of their documents through email or online. To file the claim online, they will need to courier the documents to a representative in India who can come to our office and file the claim on their behalf.
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*Individual Life Claim Settlement Ratio is 98.02% for FY 2020 - 21 as per the latest annual audited figures.
Claims beyond three years from the date of issuance of policy or the date of commencement of risk or the date of revival of the policy or the date of the rider to the policy, whichever is later. Subject to all the relevant terms and conditions of the policy contract.
Claim Processing - All the relevant terms and conditions of the policy contract, including provisions in respect to claim procedure shall apply. Unit linked products; policies with unclaimed amounts or last premium payment not cleared are excluded.
4 Hour claim processing is applicable for Tata AIA Life Insurance working days (Monday to Friday) up to 2 pm and also bank working days subject to submission of completed documents.
^Applicable for Life, Life Plus and Life income options
#Option available with Life and Life plus option.
~~Rider 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.
**Under Life Plus Option, an amount equal to the 105% 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.
~Income 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.
Tata AIA Life Insurance InstaProtect comprises Tata AIA Life Insurance Sampoorna Raksha Supreme (Non-Linked, Non-Participating, Individual Life Insurance Plan) (UIN: 110N160V02) - Life Option (in case Return of Premium is No) or Life Plus Option (in case of Return of Premium is Yes), Tata AIA Life Insurance Non-Linked Comprehensive Protection Rider (NLCPR) (UIN: 110B033V02) - A Non-linked, Non-participating, Individual Health Rider; Tata AIA Life Insurance Non-Linked Comprehensive Health Rider (NLCPR) (UIN: 110B031V02) - A Non-linked, Non-participating, Individual Health Rider.
CritiCare Plus (CPB), Accidental Death Benefit (ADB), Accidental Total & Permanent Disability (ATPD) are benefit options available under Tata AIA Life Insurance Non-Linked Comprehensive Protection Rider (A Non-linked, Non-participating, Individual Health Rider) (UIN: 110B033V02 or any later version). HospiCare Benefit (HCB) is a benefit option available under Tata AIA Life Insurance Non-Linked Comprehensive Health Rider (A Non-linked, Non-participating, Individual Health Rider) (UIN: 110B031V02 or any later version)
##Please refer brochure/s of above product and rider/s for additional details and Annexure for Definitions and Exclusions under these benefits
L&C/Advt/2022/Jan/0157
