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Compare Term Insurance Plans
What is a Term Insurance
Term insurance is a life insurance policy that provides financial support to the nominees in case the policyholder passes away unexpectedly during the policy term. This type of plan ensures that your loved ones remain financially secure and cared for, even in your absence.
Term Insurance Comparison
Tata AIA Sampoorna Raksha Promise and Tata AIA Maha Raksha Supreme Select are term insurance plans designed to provide comprehensive financial protection to policyholders and their families. They share several key similarities:
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![Life Coverage]( "Life Coverage")
Life Coverage
Both plans offer substantial life cover to ensure the financial security of your loved ones in your absence.
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![Terminal Illness Benefit]( "Terminal Illness Benefit")
Terminal Illness Benefit
Each plan includes a benefit that provides a payout upon the diagnosis of a terminal illness, offering financial support during critical times.
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![Premium Waiver]( "Premium Waiver")
Premium Waiver
In the event of a terminal illness diagnosis, both plans waive future premium payments, reducing financial burden during challenging periods.
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![Flexible Payout Options]( "Flexible Payout Options")
Flexible Payout Options
Both policies allow beneficiaries to choose between lump-sum payouts or staggered payments, catering to individual financial needs and preferences.
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![Optional Riders]( "Optional Riders")
Optional Riders
Policyholders can enhance their coverage by adding riders such as Accidental Death and Dismemberment, providing additional protection against unforeseen events.
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![Discounts]( "Discounts")
Discounts
Both plans offer premium discounts for women policyholders and salaried individuals, making them more affordable.
However, there are key differences in both the term insurance plans, we can understand the similarities as well as differences on the features from the below table:
Feature |
Tata AIA Sampoorna Raksha Promise |
Tata AIA Maha Raksha Supreme Select |
Plan Type |
Non-linked, non-participating, pure-risk individual life insurance |
Non-linked, non-participating, pure-risk individual life insurance |
Death Benefit Options |
4 options: Life Promise, Life Promise Plus, Joint Life Promise, Joint Life Promise Plus |
7 options: Life Secure, Life Secure Plus, Joint Life Secure, Joint Life Secure Plus, Step-Up Secure, Step-Up Secure Plus, Legacy Secure Plus |
Whole Life Cover |
Available (up to age9 100 for certain options) |
Available (up to age 100 for certain options) |
Terminal Illness Benefit |
50% of the base sum assured paid out on terminal illness diagnosis, waiver of future premiums |
50% of the base sum assured paid out on terminal illness diagnosis, waiver of future premiums |
Joint Life Option |
Available under Joint Life Promise and Joint Life Promise Plus options |
Available under Joint Life Secure and Joint Life Secure Plus options |
Maturity Benefit |
Return of 100% of Total Premiums Paid for Life Promise Plus and Joint Life Promise Plus, except excluding loading for modal premiums and discounts. |
Return of 100% of Total Premiums Paid for Life Secure Plus and Joint Life Secure Plus. It does include loading for modal premiums and counts in any discounts. |
Premium Deferment (FlexiPay3 Benefit) |
Allows up to 12 months deferment of premium without lapse in coverage |
Allows up to 12 months deferment of premium without lapse in coverage |
Female Premium Benefit |
15% lower premium for women |
15% lower premium for women |
Age at Entry |
18 years to 65 years, depending on the option chosen |
18 years to 65 years, depending on the option chosen, and 45 years is the minimum for Legacy Secure Plus |
Age9 at Maturity |
Up to 100 years for most options |
Up to 100 years for most options |
Policy Term |
Varies based on the chosen option (Regular Pay, Limited Pay, Single Pay) |
Varies based on the chosen option (Regular Pay, Limited Pay, Single Pay) |
Premium Payment Term |
Regular Pay: Equal to the policy term Limited Pay: Max PPT is 1 month less than the policy term Single Pay |
Regular Pay: Equal to the policy term Limited Pay: Max PPT is 1 month less than the policy term Single Pay |
Premium Payment Frequency |
Single Pay, Yearly, Half-Yearly, Quarterly, Monthly |
Single Pay, Yearly, Half-Yearly, Quarterly, Monthly |
Minimum Basic Sum Assured |
₹25,00,000 |
₹25,00,000 (₹1,25,000 for Legacy Secure Plus) |
Policy Loan |
Not available |
Not available |
Flexible Payout Options |
Lump sum, staggered, or a combination of both |
Lump sum, staggered, or a combination of both |
Claim Payout |
Instant payout of ₹3 lakhs on claim registration1 for policies with a minimum sum assured of ₹1 crore |
Instant payout of ₹3 lakhs on claim registration1 for policies with a minimum sum assured of ₹1 crore |
Accidental Death Benefit |
Additional lump sum payout if both policyholders, unfortunately, pass away simultaneously in an accident (under Joint Life options) |
Additional lump sum payout if both policyholders, unfortunately, pass away simultaneously in an accident (under Joint Life options) |
Additional Riders4 |
Tata AIA Life Insurance Non-Linked Comprehensive Protection Rider, Comprehensive Health Rider, Tata AIA Vitality Protect, Tata AIA Vitality Health |
Tata AIA Life Insurance Non-Linked Comprehensive Protection Rider, Comprehensive Health Rider, Tata AIA Vitality Protect, Tata AIA Vitality Health |
Top-up Sum Assured Option |
Available to increase life cover annually by 5%-20% of the base sum assured at the beginning of every next year |
Available to increase life cover annually by 5%-20% of the base sum assured at the beginning of every next year |
Life Stage Option |
Increases coverage at key life events: Marriage (One Marriage Only) Birth/Adoption of 1st Child Birth/Adoption of 2nd Child Home Loan disbursal, subject to home loan amount sanctioned |
Increases coverage at key life events: Marriage (One Marriage Only) Birth/Adoption of 1st Child Birth/Adoption of 2nd Child Home Loan disbursal, subject to home loan amount sanctioned |
Special Options |
Family Plan option: Transfer sum assured to a child after maturity (available with additional premium) |
Step-Up Secure: Allows policyholder to increase death benefits over the initial years gradually |
Accidental Death Benefit |
Available under Joint Life Promise and Joint Life Promise Plus |
Available under Joint Life Secure and Joint Life Secure Plus |
Enhanced Death Benefit (Education Secure) |
Not available |
Available under the Education Secure option for continued life cover for children's education |
Surrender Value |
Available after 1 year of premiums paid for Life Promise Plus and Joint Life Promise Plus |
Available after 1 year of premiums paid for Life Secure Plus and Joint Life Secure Plus |
Conclusion: In conclusion both Sampoorna Raksha Promise and Maha Raksha Supreme Select offers unique features, enabling individuals to select a policy that aligns with their specific financial goals and protection requirements.
FAQs
Can I buy term insurance plans online?
Yes, you can buy a term insurance plan online. In fact, there are several benefits of buying a term plan online, like, you can make a more informed buying decision, avail of discounts from the insurer, compare multiple term plan offerings, purchase a term plan quickly, etc.
Which riders are available under Sampoorna Raksha Promise and Maha Raksha Supreme Select?
The following riders are available under SRP
- Tata AIA Life Insurance Non-Linked Comprehensive Protection Rider (UIN:110B033V04 or any other later version) - A Non-Linked, Non- Participating Individual Health Rider
- Tata AIA Vitality Protect (A Non-Linked, Non-Participating Individual Health rider (UIN:110B046V04 or any other later version)
- Tata AIA Vitality Health (A Non-Linked, Non-Participating Individual Health rider (UIN:110B045V03 or any other later version)
The following riders are available under MRSS
- Tata AIA Life Insurance Non-Linked Comprehensive Protection Rider (UIN:110B033V04 or any other later version) - A Non-Linked, Non- Participating Individual Health Rider
- Tata AIA Vitality Protect (A Non-Linked, Non-Participating Individual Health rider (UIN:110B046V04 or any other later version)
- Tata AIA Vitality Health (A Non-Linked, Non-Participating Individual Health rider (UIN:110B045V03 or any other later version)
Is it better to have more than one term insurance plan?
Though people can have more than one term insurance plan, having a single policy with coverage suffices for your family’s needs is better. With multiple term insurance plans, the burden of remembering term insurance premium payment dates and the insurance cost increases and can become difficult to maintain.
How much term insurance does one need?
The term insurance coverage should be sufficient to allow one’s family to continue with the same living standard even when the regular income ceases to exist. According to financial experts, a term insurance policy coverage must be a minimum of 15 to 20 times the insured’s existing income.
Do Tata AIA Life Insurance term plans offer a free-look period?
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.
Can I avail of tax benefits under a term insurance plan?
Yes, term plans offer tax benefits#. 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.
Is it good to invest in term insurance?
Yes, term insurance is a great investment choice because it provides a high sum assured for a low policy premium and ensures your loved ones are protected even in your absence.
Popular Searches
- Tata AIA Maha Raksha Supreme Select - Non-Linked, Non-Participating, Pure Risk, Individual Life Insurance Product (UIN: 110N171V06)
- Tata AIA Sampoorna Raksha Promise - Non-Linked, Non-Participating, pure risk, Individual Life Insurance Product (UIN:110N176V03)
- *Illustrated Premium is the monthly premium excluding taxes for 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 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.
- 1With this feature, instant death benefit of INR 3 Lacs from the Sum Assured will be paid within 1 working day from the claim registration date. This feature is applicable only after a waiting period of 3 policy years from the policy inception or revival of the policy and provided the policy is in force. The remaining SA shall be payable post the completion of the claim investigation. Further, in case of any discrepancy in the claim investigation resulting in the final decision of non-payment of the claim, the company reserves the right to recover the already paid amount. The acceleration of instant claim should not be construed/interpreted as acceptance of the claim. | On assessment of documents submitted during claim assessment, additional documents may be sought by the company. | Please refer the sales brochure and policy document for more details.
- 2Individual Death Claim Settlement Ratio is 99.13% for FY 2023 - 24 as per the latest annual audited figures.
- 3With this feature, policyholder is allowed to defer the due premium for a period of 12 months while maintaining the full risk cover under the base plan and attached riders. At the end of Premium Deferment period, the policyholder is required to pay the due premiums, including the premium applicable for the period of Premium Deferment, i.e. the base cover premium and additional premium (if any). | FlexiPay Benefit shall be available for multiple times with a gap of 5 policy years from the expiry date of previous Premium Deferment. The option can be exercised only after payment of 5 full years premium. | No interest shall be levied on the premium due during the Premium Deferment period. If the premiums due are not paid within the grace period after expiry of the FlexiPay Benefit, the Policy (including Rider(s), if any) shall lapse and no benefits shall be payable in the Policy or the Rider(s), if any) and company shall be entitled to recover the same from any amounts or benefits payable under the Policy or Rider(s). | Please refer the sales brochure and policy document for more details.
- 4Riders are not mandatory and are 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/Intermediary/ branch.
- 8Tata AIA Sampoorna Raksha Promise offers first year digital discount of 1% for Single Pay, 10% for Limited Pay/Regular Pay.
- 9Not applicable under PoS, please refer sales brochure for more information
- 11This product offers first year discount of 5% for Limited Pay/Regular Pay and 1% for Single Pay to salaried customers.
- 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.
- 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.
- 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.
- In case of POS variant, the product is available with/without medical underwriting as per BAUP (Board Approved Underwriting Policy)
- L&C/Advt/2025/Jan/0238
