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A Non-Linked Non-Participating Individual Pure Risk Premium Life Insurance Plan (UIN: 110N157V02)
Tata AIASaral Jeevan Bima
The Tata AIA Saral Jeevan Bima is a pure protection plan which offers family security to your family that enables them to lead a life on their terms and fulfil all their future goals.
At every step of your life, having a concrete financial plan and a safety net for your family members and dependents is important. When making this decision and after taking into consideration the various risks that may strike in the future, you can move towards securing your loved ones with a term plan that offers simple but comprehensive insurance coverage.
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Benefits of Tata AIA Saral Jeevan Bima
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![Money bag - Claim tax deductions as per applicable tax laws with Term Insurance Policy - Features of Tata AIA Term Insurance Policy]( "Claim tax deductions as per applicable tax laws - Features of Tata AIA Term Insurance Policy")
Simple and Affordable Pure Protection Plan
Select your choice of sum assured to safeguard your family against all possible future financial risks due to unforeseen events.
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![Clock Icon]( "Choose a whole life coverage insurance plan with coverage up to 100 years of age - Features of a Tata AIA Term Insurance Policy Online")
Pay your Way
Choose a policy term and premium paying term of your preference for as long as you want your family to receive life cover protection.
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![Boy with a cap]( "Buy a Tata AIA term insurance plan online as early as 18 years of age - Features of a Term Insurance Policy")
Special Premium Rates
As a woman policyholder, you can enjoy special premium rates on your term plan, subject to the terms and conditions under the policy.
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![Flexible Death benefit payout in a term plan can be offered either as a lump sum, a regular income or a combination of both]( "Flexible Death benefit payout in a term plan can be offered either as a lump sum, a regular income or a combination of both")
Tax Benefits
Get tax benefits# on the policy premiums paid as well as the sum assured received by the nominee in case of any claim as per applicable income tax laws.
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![Money Bag Icon]( "Term plan with a return of premium can offer you a 105% return on the total premiums paid on survival")
Optional Riders
With optional riders^ you can increase the plan coverage to safeguard your loved ones from unforeseen events.
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![Money Bag Image]( "Pay your term plan premiums by choosing from flexible payment options - Features of a Tata AIA Term Insurance Policy")
Affordable Premium
In case of term insurance plans, you can opt for higher cover amount at affordable premiums if you buy at a younger age.
Why Choose Tata AIA Life Insurance?
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Faster Claim Settlement
Your claims are settled within 4 hours*
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400+ Branches
Presence across major cities in India
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The Tata AIA Assurance
99.01% Claim Settlement Ratio in FY 2022 – 23**
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72 Lakh +
Families protected so far~
*T&C apply
Plan Eligibility of Tata AIA Saral Jeevan Bima
Plan Parameters |
Minimum |
Maximum |
Entry Age |
You must be at least 18 Years of Age |
The maximum entry age is 65 Years |
Maximum Age at Maturity |
70 Years |
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Policy Term (PT)
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Minimum: 5 years Maximum: 40 years, subject to the maximum maturity age given above |
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Premium Payment Term
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Regular Pay: Equal to policy term Limited Pay: 5 or 10 years subject to premium paying term being less than policy term Single Pay: You can pay a single Lump Sum premium amount at policy inception. |
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Basic Sum Assured (Cover Amount) |
The minimum cover that can be given under this plan is ₹5,00,000 |
The maximum cover that can be given under this plan is ₹49,50,000. The limit may be subject to the Board-Approved Underwriting Policy (BAUP). |
Premium Payment Mode |
You can pay your premiums in Single / Annual / Half-yearly / Monthly (only with ECS/NACH) mode. |
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All references to age as on last Birthday. The Basic Sum Assured shall be in multiples of INR 50,000
Documents Required
PAN card
Aadhar Card
Bank statement
(for the previous 6 months)
Salary Slip
Income Tax Receipt
Downloads
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Frequently Asked Questions about Tata AIA Saral Jeevan Bima
How is a pure term plan different from other life insurance plans?
A term plan is unlike other life insurance plans because it only offers a pure life cover and no maturity or survival benefits, or other pay-out benefits. Term insurance plans are also quite well-known for their highly affordable premiums, even when the sum assured is high.
Why do I need a term insurance plan?
A term insurance plan offers a simple but extensive life cover protection that ensures the future financial security of your dependents or beneficiaries. In case of your demise within the policy term, the predetermined sum assured is paid out to them so they can secure themselves financially.
Are term insurance plans expensive?
No, on the contrary, term insurance premiums can be quite affordable even if you opt for a high sum assured. If you opt for a term insurance plan at a younger age, the premium amount is affordable and does not change during the policy term except for taxes as per applicable tax laws.
When should I buy term insurance?
It is always advisable to purchase a term plan in your 20s or as early as the minimum entry age so that you can benefit from low premiums. At a younger age, you have considerably lower health risks as compared to an older individual, which is why the premiums will also be low.
What is the maximum sum assured I can avail under this Tata AIA Life Insurance term plan?
The maximum basic sum assured you could opt for under this policy is 49,50,000, which may be subject to review as per the company’s policies and guidelines.
Does the term policy offer any death benefit and maturity benefit?
There is no maturity benefit under this term policy. The death benefit payable on the death of the policyholder is as follows:
- In case of Regular Pay or Limited Pay, the highest of 10 times the annualised premium (total premiums paid in a year), the predetermined sum assured to be paid on death or 105% of the total premiums paid until the date of the death, will be payable.
- In the case of Single Pay, the highest of 125% of the Single Premium or the predetermined sum assured to be paid on death will be payable.
How do the riders under this term insurance plan work?
You can add rider^ options available under the term plan to your base policy. They can be attached to the policy at the start of the policy duration or on any of the policy anniversaries, provided the rider policy term and premium paying term do not exceed that of the base term plan. These riders will come at an additional but nominal premium cost.
Is it possible to cancel the term plan after the premium payment?
In case you cancel the term plan, you can get 70% of the total premiums paid under the Limited Pay and Single Pay options, provided 2 successive years of premiums have been paid in full, and the policy is still valid at the time of cancellation.
What is the premium paying terms and modes under this policy?
The policy offers the Regular Pay, Limited Pay, and Single Pay options under the premium payment mode, while the premium paying term will be as follows:
- Regular Pay: Equal to the policy term.
- Limited Pay: 5 or 10 years, as long as the premium paying term is shorter than the policy term.
- Single Pay: Lump sum amount at policy inception
Does the Tata AIA Saral Jeevan Bima offer a loan facility?
No, the Tata AIA Saral Jeevan Bima does not offer any loan facility under the policy.
How to file a claim under this term plan?
To raise a claim, you can choose any of the following channels to reach out to us.
Email us at : customercare@tataaia.com
Call our helpline number - 1860-266-9966 (local charges apply)
Walk into any of the Tata AIA Life Insurance Company branch offices
Write directly to us at :
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
Can my nominee file a claim from outside India?
Yes, if your nominee wants to file a claim from outside India, they can file the claim online on our official website and upload all the necessary documents there or send them to us via email.
If they file an offline claim, they will have to courier the documents to their representative in India, who can visit any of our office branches and submit them to file the claim.
What are the documents needed for filing a claim?
Please click here to know the list of documents needed for the claim intimation and settlement process. .
Disclaimer
- The complete name of Tata AIA Saral Jeevan Bima is Tata AIA Life Insurance Saral Jeevan Bima - A Non-Linked Non-Participating Individual Pure Risk Premium Life Insurance Plan (UIN: 110N157V02)
- #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.
- ^Riders 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.
- Tata AIA Life Insurance Non-Linked Comprehensive Protection Rider (UIN:110B033V01 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:110B046V02), Tata AIA Vitality Health (A Non-Linked, Non- Participating Individual Health rider (UIN:110B045V02) are available under this plan
- *Applicable to only non-early claims more than 3 years of policy duration up to Sum assured of 50 Lakh. Applicable for branch walk in. Time limit to submit claim to Tata AIA by 2 pm (working days). Subject to submission of complete documents, not applicable to ULIP policies
- Vitality is a trademark licensed to Tata AIA Life by Amplify Health Assets PTE. Limited, a joint venture between Vitality Group International, INC. and AIA Company Limited. The assessment under the wellness program shall not be considered as a medical advice or a substitute to a consultation/treatment by a professional medical practitioner.
- **Individual Death Claim Settlement Ratio is 99.01% for FY 2022 - 23 as per the latest annual audited figures.
- ~72,34,092 families protected till 31st March 2023.
- This product is underwritten by Tata AIA Life Insurance Company Ltd. This 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.
- In case of sub-standard lives, extra premiums will be charged as per our underwriting guidelines.
- 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/2023/Oct/3468
