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Features of Term Insurance

Term insurance offers life cover for a selected period. It helps reduce financial concerns by offering support to family members if the policyholder... Read more passes away during the policy term. A term plan may include features such as affordable premiums, different premium payment choices, payout options, tax-related⁸ provisions under applicable laws, and optional add-ons. These features make term insurance a practical option for long-term family protection and financial preparedness. Read less

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Get Life Cover of ₹1 Crore by paying a premium of

₹7,085/month

Total premium: ₹14.09 Lakh

saving Save ₹1,202 with discounts

₹ 4.2 Lakh

₹ 1 Crore

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Discounts

2% Milestone discount

2% discount on 1st year premium on these milestones

Event	Eligibility
Wedding (One 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.

A certified Tata AIA expert will call you from a 1600‑series number to customize your plan.

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Tata AIA Sampoorna Raksha Promise - Non-Linked, Non-Participating, Pure Risk, Individual Life Insurance Product (UIN:110N176V12)

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Get ₹1 Cr. Life Cover
at ₹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 term insurance?

Term insurance is a type of life insurance that offers financial protection for a fixed period chosen at the time of purchase. If the policyholder passes away during the selected policy term, the nominee receives the policy benefit according to the chosen payout structure. A term plan generally provides higher life cover at a comparatively lower premium amount, making it suitable for individuals planning family protection.

Policyholders may choose premium payment frequency according to their preference and select payout methods that match family requirements. Many individuals compare plans online before purchase because this process supports informed decision-making regarding coverage amount, premium obligations, and policy term selection according to financial responsibilities.

Key features of term insurance plans

Term insurance plans may include features linked to premium payment, payout choice, optional additions, and policy customisation according to changing financial responsibilities. Different individuals may review these features according to age, family needs, and long-term financial commitments.

Affordable premium

One commonly discussed feature of term insurance relates to affordability. Since policy tenure may range across several years, premiums may remain comparatively manageable for many individuals seeking life cover. A younger person purchasing a policy during the early working years may receive greater flexibility regarding policy duration and premium commitments.

For example, a 27-year-old individual beginning employment may choose a longer protection period while managing premium obligations alongside household expenses. Some individuals may review estimated premium amounts before policy selection to understand financial commitments according to age, policy duration, and life cover requirement.

Easy purchase process

Purchasing a term insurance policy may involve comparing plan features, reviewing payment conditions, and understanding coverage requirements before selection. Individuals may compare available options to understand premium commitments and policy duration according to personal responsibilities.

For example, a newly married individual planning future financial responsibilities may compare available plans and select coverage aligned with expected family commitments. Documentation requirements may differ according to policy terms and insurer conditions.

Return of premium option

Certain term insurance plans may include a return of premium feature. Under this arrangement, premiums paid during the policy term may be returned if the policyholder survives the selected duration, subject to policy conditions.

Some individuals may prefer this option because it combines life cover with the possibility of receiving back paid premiums at the end of the selected term.

Various payment options for premiums

Term insurance may provide policyholders with different premium payment frequencies according to financial preference. Some individuals may choose monthly payments, while others may prefer quarterly, half-yearly, or annual payment schedules.

Certain plans may also provide the choice of paying premiums for a selected duration instead of throughout the policy term. For instance, a person aged 35 may decide to complete premium obligations before reaching retirement years to reduce future financial responsibilities. Individuals purchasing a term plan at an earlier age may receive wider flexibility while selecting premium payment duration according to long-term planning requirements.

Flexibility in payment

Term insurance may provide nominees with more than one payout option according to financial requirements after the policyholder’s death during the policy period. While some families may choose a lump sum amount, others may prefer receiving payments regularly over time.

For example, a sole earning member supporting parents, spouse, and children may select monthly income payouts to support recurring household expenses. Certain plans may provide fixed monthly income arrangements, while some may offer increasing monthly income structures according to policy conditions and selected payout preference.

Additional riders

Certain policyholders may choose add-on benefits⁵according to changing protection needs. In some situations, individuals may select optional provisions linked to premium waiver during specified health conditions, including critical illness, depending on policy conditions.

For example, a person diagnosed with a covered illness during the policy period may review available add-on conditions related to premium obligations. Understanding rider⁵ conditions carefully may support informed policy selection.

Health-based rebates

Certain insurers may consider health-related factors while assessing premium obligations. Individuals maintaining healthier lifestyles or meeting insurer-specific conditions may receive premium-related considerations according to policy rules.

For example, a 31-year-old non-smoker attending routine health assessments may receive a different premium assessment outcome depending on policy requirements.

Increase in life cover as earnings grow

Financial responsibilities and earnings may change over time. Because of this, some individuals may review policy coverage at later stages and choose higher life cover according to changing obligations.

For example, a person purchasing a basic plan at age 29 may later review coverage after increased family responsibilities or career growth. Policyholders considering additional coverage or related benefits may need to disclose medical conditions accurately, since incomplete information may affect policy validity or claim assessment according to policy terms.

How do Tata AIA term insurance plans work?

After understanding the term life insurance plan features, let's understand how it works:

Buying the insurance policy

The first step includes selecting a term insurance plan like Tata AIA Sampoorna Raksha Promise based on coverage, the term of the insurance plan, and riders5. Many insurers offer a term insurance calculator that helps customers determine adequate coverage based on their current as well as future obligations. Rider benefits are available with Tata AIA Health Buddy.

Terms of the policy

Policyholders are required to comply with the conditions of the policy, mainly the premiums, to ensure the policy is active. Unpaid premiums may cause the policy to lapse. The premium waiver benefit rider⁵ ensures the continuity of the policy even if the policyholder faces financial problems because of disability or critical illness.

Claim settlement

In case of the policyholder’s death during the policy term, the sum assured will be paid to the nominees as per the payment option chosen. It can either be paid as a lump sum payment, as monthly instalments of income, or as a combination of the two. Tata AIA has an Individual Death Claim Settlement Ratio⁶ of 99.45% for FY25-26.

Tata AIA Term Insurance plans

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

Calculate Premium

Non-Linked, Non-Participating, Pure Risk, Individual Life Insurance Product (UIN:110N176V10)

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

Calculate Premium

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

Benefits of term insurance plans

The key benefits of a term insurance plan are as follows:

Multiple payout options

Term insurance provides different payout options for payment of claims, which include single lump sum payments and monthly income payout options. These payout options give the family the flexibility to choose the payout options that are suitable for them to manage their future expenses.

High coverages at lower premium

One of the key benefits of term insurance is that you can obtain high coverage at a comparatively low premium. Such plans are a cost-effective way of buying sufficient life coverage even if you have financial liabilities, such as home loans or other debts.

Disability support

Some term insurance policies include disability benefits. These benefits offer monetary support in case the policy owner is disabled and unable to afford premiums. This feature ensures the policy remains active and the family continues to receive protection, maintaining financial stability even during challenging circumstances.

Rider options

Term insurance policies also provide the option to upgrade the basic plan by purchasing various riders⁵, such as the critical illness rider, accidental death benefit rider, and waiver of premium rider.

Tax benefits

Buying a term insurance plan offers tax⁸ benefits under the Income Tax Act, 1961. The premiums paid are eligible for tax deductions⁹ under Sec. 80C, and the death benefit received by nominees is also tax-free under Sec.10(10D).

How are term insurance premiums determined?

Term life insurance premiums are calculated based on a number of variables, including the age, health, lifestyle, and the insured amount that the insured wants to purchase. Younger persons may have to pay lower premiums, as they tend to have lower life risks. Insurers usually require medical examinations to assess health status and lifestyle; they assess whether the individual smokes, their occupation type, and family medical history to determine premiums. All these factors affect the final premium, ensuring it reflects the actual risk profile of the individual seeking coverage.

Conclusion

Understanding term insurance features enables you to make informed decisions about protecting your family's financial future. These plans provide life coverage at affordable premiums while offering customisable options such as flexible payouts, premium payment modes, and valuable riders. With term insurance, you can ensure your loved ones maintain their standard of living and achieve their goals even in your absence. Evaluating different plans can help you select coverage that aligns with your family's specific financial needs.

What are the features of term insurance?

The features of term insurance include low premiums, high cover, flexible premiums, multiple payout options, riders and return of premiums.

What is term insurance, and what are its benefits?

Term insurance is a life insurance policy. If the policyholder dies during the policy term, the nominee gets the sum assured. Its benefits include high coverage, low premiums, tax⁸ advantages, and flexible payout choices.

What is the scope of term insurance?

Term insurance covers financial responsibilities, supports family security, helps with children’s education, and protects against financial difficulties effectively.

What is an important term in insurance?

One of the important terms in insurance is premium. This is the fixed cost that a customer pays to keep the insurance policy active.

What are the features of general insurance?

The key features of a general insurance are risk coverage, settlement of claims, flexible premiums, financial security and policy renewal on a yearly basis.

Tata AIA Sampoorna Raksha Promise - Non-Linked, Non-Participating, Pure Risk, Individual Life Insurance Product (UIN: 110N176V12)
Tata AIA Maha Raksha Supreme Select - Non-Linked, Non-Participating, Pure Risk, Individual Life Insurance Product (UIN: 110N171V15)
Tata AIA Health Buddy Plan – Non-Participating, Non-Linked Individual Health Product (UIN: 110N183V02)
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.
²This 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.
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.
⁶Individual Death Claim Settlement Ratio for FY 2025 -2026 is 99.45% as per the latest annual audited figures.
⁷Illustrated Premium of ₹683 is the monthly premium excluding taxes 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 with first year premium discount for digital purchase and salaried person. Please refer Benefit Illustration for more details. 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.
⁸Income 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.
⁹Tax benefits of up to ₹46,800 u/s 80C is calculated at highest tax slab rate of 31.20% (including cess excluding surcharge) on life insurance premium paid of ₹1,50,000 as per old tax regime. Tax benefits under the policy are subject to conditions laid under Section 80C, 80D,10(10D), 115BAC and other applicable provisions of the Income Tax Act,1961. The Tax Free income is subject to conditions specified under section 10(10D) and other applicable provisions of the Income Tax Act,1961. Tax laws are subject to amendments made thereto from time to time. Please consult your tax advisor for details, before acting on above.
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.
For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale. Insurance cover is available under this product.
L&C/Advt/2026/Jan/0218