What are the Key Benefits of ₹50 Lakh Term Insurance?
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50 lakh term insurance plan offers life cover of ₹ 50 lakh, providing financial security to your dependents if you pass away during the policy Read more term. It gives financial security to the nominee of the policyholder upon the untimely death of the policyholder during the policy term. ₹ 50 lakh death benefit provides financial security to your family and helps them manage their expenses and needs in your absence. A ₹50 lakh term insurance policy provides substantial life cover for a relatively low premium, particularly when purchased at an early age.. Read less
50 lakh term insurance plan offers life cover of ₹ 50 lakh, providing financial Read more security to your dependents if you pass away during the policy term. It gives financial security to the nominee of the policyholder upon the untimely death of the policyholder during the policy term. ₹ 50 lakh death benefit provides financial security to your family and helps them manage their expenses and needs in your absence. A ₹50 lakh term insurance policy provides substantial life cover for a relatively low premium, particularly when purchased at an early age. 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
Save ₹1,202 with discounts
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Discounts
10% discount on 1st year premium is applicable on online purchase. This discount is auto-applied and can’t be removed
8.5% discount on 1st year premium is applicable for salaried personnel. You will need to share your corporate email ID if you opt for this discount. This discount is auto-applied if you select ‘Salaried’ as your occupation and can’t be removed
1% discount on 1st year premium for all payments paid through any permissible electronic mode debited through an auto-debit mandate. Maximum discount capping: ₹100 over the year.
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 1st 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.
Applicable only if the policy is bought digitally. You will get the higher of online or employee discount, not both.
This discount is auto-applied and valid till 31st October 2025
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Minimum annual income should be ₹5 Lakh
Tata AIA Sampoorna Raksha Promise - Non-Linked, Non-Participating, Pure Risk, Individual Life Insurance Product (UIN:110N176V08)
A 50 lakh term insurance policy is a type of life insurance plan that provides a sum assured of ₹ 50 lakh. This coverage remains fixed throughout the lifetime of the policy and is selected at the time of purchase. If you choose the Return of Premium (ROP) option, all the premiums you paid are returned to you when the policy ends, subject to policy terms. Thus, a ₹ 50 lakh term plan provides income replacement and financial protection.
Term insurance plans of ₹ 50 lakh are suitable for individuals with financial dependents or long-term liabilities, like loans or children's education. Additionally, term plans can be customised by adding critical illness coverage or accidental death coverage.
Below are the key reasons to buy ₹ 50 lakh term insurance plan:
By purchasing a ₹ 50 lakh term insurance plan, you can ensure your nominee gets 50 lakhs upon your death. In your absence, a term plan can ensure your family is financially secure.
Let's see how ₹ 50 lakh term insurance plan works with the help of an example:
Amit is 30 years old and the sole earner in his family. He purchases a ₹50 lakh term insurance policy for 20 years. Amit's family will receive ₹50 lakh if he passes away during the policy term. Amit's family can use the payout from term plan to pay bills, repay loans, and pay for his children's education.
The ₹ 50 lakh term plan offers following key features:
Term insurance allows entry between the ages of 18 and 65. The wide age bracket makes it easier for more individuals to take advantage of the 50 lakh life insurance cover for their loved ones.
You can choose to have different premium payment options such as regular pay, limited pay, or single pay. It's paid on a monthly, quarterly, half-yearly, or annual basis, depending on your budget.
The death benefit in 50 lakh term plans can be availed in more than one way. You could get a lump sum, a monthly income, or both the lump sum and the monthly income, depending on your family's requirements.
A ₹ 50 lakh term insurance policy offers long-term financial safety, as most plans can last anywhere between 10 and 55 years. For example, Tata AIA Sampoorna Raksha Promise term plan offers whole life coverage until 100 years1.
As stated, some term plans allow you to extend your coverage amount or opt for add-on riders5 to get more comprehensive coverage, which sometimes also have their own sum assured amounts. This offers peace of mind by ensuring your family members will not suffer financial hardships in case of your unfortunate and untimely demise.
The premium rates for term insurance plans depend on their coverage (sum assured) amount. Generally, they tend to be more affordable when compared to other life insurance policies on the market. Hence, a ₹ 50 lakh term insurance premium will be reasonably low, allowing you to buy a term plan to cover you and your family early in your career without burning through your savings.
Home loans are long-term commitments, and if you are the sole earner in your family, the burden of paying off the loans can be on your family members in the event of an untimely death. Most term plans last 15 - 20 years, which is similar to the tenure of a home loan. Hence, a ₹ 50 lakh term policy can be a viable safety net when you opt for long-term financial commitments to protect against any uncertainties. For more information on this topic, you can refer to our blog on Guide to Loan Against Your Life Insurance Policy.
Express Claim Settlement6
Individual Death Claim Settlement Ratio FY 24-25
Families protected so far7
Presence across major cities in India
Evaluating the required coverage for your term insurance policy is effectively calculating your life's value, and that is anything but pleasant. However, you must remember that life insurance aims to provide financial security to your family and dependents in the event of an untimely death. As a result, you must consider the following factors to select your appropriate coverage level.
Age
Age
Your Annual Income
Your Annual Income
Dependents and Their Needs
Dependents and Their Needs
Existing Liabilities
Existing Liabilities
The exact cost of a ₹50 lakh term insurance policy depends on several factors. There is no standardized amount, and it will depend on your future requirements. Prominent factors include age, coverage amount, medical history, current lifestyle (whether you smoke/drink/or have pre-existing health conditions), and occupation. Some insurance providers offer women lower premium rates or discounts under their term plans. You can find such discounts under most Tata AIA life insurance plans.
One way to estimate your potential premiums under a ₹50 lakh term insurance would be to use a term insurance calculator. These are free online tools insurance providers offer on their website, which allow you to input factors like your age, annual income, number of insured members, and add-on riders that you would like to include under the policy to give you an estimated premium rate.
If you want to buy a policy under Tata AIA and want to know your ₹50 lakh term insurance premium, you can use our Tata AIA Term Insurance Calculator to estimate your potential premiums under your preferred term insurance policy.
The insurance provider's claim settlement ratio is essential when choosing a term insurance plan. The CSR shows you the percentage of claims settled by the insurance company against the total number of claims filed in a fiscal year. For reference, Tata AIA's Individual death claims settlement ratio4 for FY 2024 - 2025 was 99.41%.
While it should not be the only deciding factor when choosing a ₹50 lakh term insurance plan, the CSR indicates the likelihood of your claims being accepted and settled by the insurance company. So, a higher CSR means the more likely your insurer will settle your claim.
Policy term or tenure refers to the coverage period under the term insurance policy. The maximum coverage period under term insurance plans like Tata AIA Sampoorna Raksha Promise Plan can go up to 100 years1 for a policyholder.
Hence, you must assess how long you want your life insurance coverage to last since most term plans do not offer survival benefits and opting for a ₹50 lakh term plan with whole life cover may be a better option.
Most insurance providers offer add-on riders5 with their term insurance policies. These can be used to increase the base coverage amount your term policy offers, and they must be opted for on policy purchase unless your policy allows mid-term inclusions. These add-ons also offer their own sum-assured amounts and require additional premium payments. Some popular term insurance riders are Accidental death, terminal illness, critical illness, accidental total, and permanent disability, hospicare, and waiver of premium benefit.
Insurance providers offer different types of term insurance plans under their roster. It is recommended that you shop around and compare different term plans with each other before buying one, as each type of term plan will have its own pros and cons.
For example, at Tata AIA, we offer different types of term insurance policies that satisfy different coverage requirements. Always analyze your requirements and carefully choose a plan that can benefit you the most.
Policy documents may be wordy, but you must not skip reading them before signing onto any term policy. They contain the clauses and conditions under which your term plan functions and will directly impact your experience with the term plan. Hence, once you have decided on a ₹50 lakh term insurance plan, make sure to go through every clause and term and only then sign the policy document. This way, you have a thorough idea of your term plan.
Now that you know what to look for when choosing a ₹50 lakh term insurance plan, here is how you can buy one from Tata AIA:
To explore what term plans we offer, visit our Term Insurance page by hovering over the Plans tab and then clicking 'Term Insurance’
Click on the term insurance policy you wish to know more about.
To know your premium estimates under a particular plan, enter your details and click 'Check Premium.'
To proceed with your buying process, hover over the 'Where Do I?' tab and click on the term insurance policy you want to buy.
Enter your details on the given fields and click 'Continue' to proceed with your buying process.
The following documents are required to buy ₹50 lakh term insurance:
Those who wish to create a financially secure future for their family members or loved ones from the uncertainties of life can opt to buy a ₹50 lakhs term insurance plan. This can include people like:
Individuals with Dependants
Taxpayers
Young Earners
People with Loans or Debts
Individuals at Health Risk
Married People
Parents and Retirees
To purchase ₹50 lakh term insurance policy, you must be 18 years old with a maximum limit of 65 years, provide income proof and medical history. Disclose unhealthy lifestyle habits like smoking or alcohol consumption that affect premiums.
While a ₹50 lakh term plan is quite affordable, the premium rates of a term plan can vary depending on your age, policy tenure, and if you have chosen to add any additional riders5 to your plan.
A ₹50 lakh term insurance policy can be a good starting point for young earners. It can be suitable for middle-income families but could be raised depending on whether you have large financial obligations such as loans, dependents, or long-term plans.
A few key benefits of purchasing a ₹50 lakh term insurance policy include:
For a more detailed explanation of the benefits you can get under these points, refer to ‘Benefits of ₹50 Lakh Term Insurance’ mentioned above.
Using an online term insurance calculator to estimate any potential premium amounts under a term plan is recommended; it mitigates the risk of human errors that may occur during the calculator process, giving you a more accurate estimate.
A ₹50 lakh term insurance cover tends to be sufficient with a return of premium add-on that helps you get back all the premiums paid throughout the policy tenure.
In case you survive the policy duration of a ₹50 lakh term insurance policy, there won't be any payment after the policy matures unless you've opted for a Return of Premium benefit.
Term plans offer tax8 deductions of up to ₹1.5 lakhs to policyholders under Section 80C of the Income Tax Act 1961 on the premiums paid annually by policyholders. Nominees who receive a death benefit or individuals who opted for medical insurance coverage can also get deductions or exemptions under sections 80D and 10(10D).
You can purchase more than one term policy. However, it can be expensive to pay premium payments for each plan, which are even higher for older individuals.
Instead, we recommend getting top-up plans and add-ons or opting for an increasing term insurance plan altogether if you think you may need more coverage in the future
Yes, your salary does influence the term insurance coverage available to you. Your annual income determines the maximum term insurance coverage you can purchase. The higher the coverage, the higher the premiums charged for the term plan.
A ₹ 50 lakh term insurance policy is an insurance policy that gives 50 lakh life coverage to policyholder's nominee in the event of policyholder's death.
The term insurance policy premium is based on age, health, policy duration, and lifestyle habits. For young and healthy person cost is relatively low.
Yes, you can add riders5 such as critical illness, accidental death, waiver of premium, or disability cover for added protection at an extra premium.
Yes, the premiums paid are eligible for tax8 deduction under Section 80C, and death benefits obtained by the nominee are exempt from tax under Section 10(10D) of the Income Tax Act, 1961.
The ₹50 Lakh Return Policy is a ₹50 lakh term policy with Return of Premium (ROP) option, where the premiums are returned in case the policyholder outlives the policy duration.
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Disclaimer
Tata AIA Sampoorna Raksha Promise - Non-Linked, Non-Participating, pure risk, Individual Life Insurance Product (UIN:110N176V08)
1Illustrated Premium is the monthly premium excluding taxes for 20 yr. old female, Standard Life, Non-Smoker for ₹ 50 Lakh Sum Assured with Policy Term of 20 yrs. (Regular Pay) under Life Promise Option with first year premium discount for digital purchase and salaried person. Please refer Benefit Illustration for more details. Premium is subject to applicable taxes, cesses & levies which will be entirely borne/ paid by the Policyholder, in addition to the payment of such Premium. Tata AIA Life shall have the right to claim, deduct, adjust, recover the amount of any applicable tax or imposition, levied by any statutory or administrative body, from the benefits payable under the Policy. Kindly refer the sales illustration for the exact premium.
2This product offers first year discount of 8.5% for Limited Pay/Regular Pay and 1% for Single Pay to salaried customers & digital discount of 1% for Single Pay, 10% for Limited Pay/Regular Pay.
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.
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.
6Applicable to only non-early claims with more than 3 years of policy duration, non-investigation cases, up to Sum Assured of Rs. 50 lakhs. 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.
789,43,554 families protected till 31st May 2025.
8Income 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 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.
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.
This plan is not a guaranteed issuance plan, and it will be subject to Company’s underwriting and acceptance.
For more details on risk factors, terms and conditions please read Sales Brochure carefully before concluding a sale.
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.
L&C/Advt/2025/Oct/3745