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Tata AIA Shubh Family Protect

Shubh Family Protect is a cost-effective term plan that secures your family's financial future, offering a combination of lump sum and income benefits. This comprehensive protection plan comes with flexible⁸ payout options with an immediate lump sum payment followed by regular income for up to 30 years.

What is Shubh Family Protect?

Shubh Family Protect is a term insurance plan specifically designed to provide affordable and comprehensive protection. This term insurance plan provides a lump sum death benefit immediately upon the unfortunate demise of the life insured, followed by a fixed income for the chosen income term to take care of your immediate needs of your family.

Plan Benefits at a Glance

The Shubh family protection offers many benefits, some of which are as follows:

Complete financial protection

Safeguards both immediate and long-term financial security for your family. On death of the life insured during the policy term, the nominee gets a lump sum death benefit immediately, plus a fixed income for the chosen income term, ensuring financial stability at every stage.

Affordable coverage

The plan highlights affordability with substantial coverage at competitive premiums, making comprehensive protection accessible. Pay lower premiums while ensuring your family's financial security with coverage up to ₹1 Crore.

Immediate lump-sum payout

Provides immediate financial support to cover urgent needs such as loan repayments and other emergency costs. This helps ensure your family has quick access to funds during a difficult time.

Receive Regular income

Offers a steady stream of income4 for up to 30 years with flexible payout options, helping cover daily living expenses and children's education. Income can be received annually, half-yearly, quarterly, or monthly, providing flexibility to meet your family's ongoing financial needs.

Lower premiums for salaried individuals

If you are salaried, you can get a premium reduction of 8.5% on the first-year premium, making protection even more affordable from the very beginning of your policy.

Save tax up to ₹46,800

Get income tax⁷ benefits up to ₹46,800⁶ on premium amount paid and avail tax-free maturity and death benefits, as per applicable tax laws.

Lower premium for Women

Premium rates for women are 15% lower, making life insurance more manageable and affordable throughout the policy term.

Terminal illness benefit

The "Payor Accelerator benefit" pays 50% of the sum assured¹ upon terminal illness claim, waives future premiums, and keeps the policy active for remaining benefits.

Features of Shubh family protect

The features of Shubh Family Protect are as follows:

Flexible premium payment options:
You can choose the premium payment mode. It can be Single Pay, Limited Pay, or Regular Pay options based on your financial situation.
Flexible payout frequency:
The payout can be received annually, half-yearly, quarterly, or monthly, providing flexibility to match your family's financial requirements.
Income term options:
Choose an income term from 10 to 30 years (in multiples of 5), allowing you to customize the duration of income support for your family.

Sample Illustration⁵

Rahul, a 40-year-old working professional from Mumbai, decides to secure his family’s financial future by purchasing Tata AIA Shubh Family Protect. At age 40, he pays ₹45,792 every year for the next 10 years till age 50.

In case, if Rahul passes away at age 55, his wife Priya who is the nominee will receive the death benefit in two parts:

Immediate lump sum death benefit: ₹50 lakhs (This amount will help her to take care of major life expenses such as home loan, or any other financial liabilities)
Fixed income for the chosen income term: Priya will receive ₹20,000 every month for 25 years, adding up to ₹60 lakhs

Total benefit paid to Priya = ₹1.1 crore (₹50L as immediate lumpsum amount + ₹60L as income)

How does Shubh Family Protect work?

Shubh Family Protect is a life insurance plan that secures your family financially in case the life insured passes away during the policy term. You pay periodic premiums for a specified time, and in return, your family receives benefits in two parts:

On the death of the life insured during the policy term, the nominee gets:

Immediate lump sum death benefit: Provides immediate financial support to cover urgent needs such as loan repayments and other emergency costs.
Fixed income for the chosen income term: Offers a steady stream of income for up to 30 years, helping cover daily living expenses and children's education.

Income can be received in annual, half-yearly, quarterly, or monthly modes, providing flexibility to meet your family's needs

Eligibility criteria for Shubh Family Protect

The eligibility criteria for Shubh Family Protect are as follows:

Parameters	Minimum	Maximum
Age	36	45
Sum assured	50 Lakh	1 Crore
Income Term (Multiples of 5)	10	30
Income Payout Frequency	Annual/Half-yearly/Quarterly/Monthly
Premium Payment Term	Single/ Limited/Regular Pay
Policy Term	Up to 82 years (Till age 100 years)

Who should buy Shubh Family Protect?

The following individuals can buy Shubh Family Protect:

Category	How Shubh Family Protect helps
Young Professionals	Young professionals can secure coverage early in their careers with competitive premiums, ensuring long-term protection for their growing families.
Graduates and Above	This plan is designed for graduates and above, offering them protection that combines financial security with health benefits.
Salaried Individuals	Salaried people can receive an exclusive 8.5% discount on the first-year premium, making this plan more affordable for those with a steady income.
Female Policyholders	Women can get 15% lower premiums throughout the entire policy term, making life insurance significantly affordable and accessible for females.
Parents with Young Children	The regular income can extend up to 30 years and ensures children's education expenses and daily needs are covered even in your absence.
Those with Outstanding Loans	The immediate lump-sum payout of 45.45% of the sum assured helps clear outstanding home loans, personal loans, or other debts immediately, protecting the family from financial burden.
Sole Earning Members	With both immediate lump sum (45.45%) and sustained income (54.55%) benefits, sole earners can ensure their family's lifestyle and monthly expenses continue uninterrupted.

Things to consider before buying Shubh Family Protect

Before buying Tata AIA Shubh Family Protect, you should consider the following:

Age Eligibility
: The plan is available for individuals aged 36 to 45 years. Ensure you fall within this age bracket to be eligible for the plan.
Educational Qualification
: This plan is applicable only for graduates and above. Ensure you meet the educational qualification requirements.
Coverage Amount
: You should choose a coverage amount which aligns with your future responsibilities and your family’s lifestyle. Additionally, you should also consider your ongoing liabilities, such as loans.
Financial Dependents
: Ensure the plan acts as an income replacement in your absence and financially supports your dependents, such as your spouse, children or parents.

When should you buy Shubh Family Protect?

You can buy Shubh Family Protect during the following life stages:

Life stage	When to consider Shubh Family Protect
Early career	Secure essential coverage at competitive premiums while building your career. You can get coverage up to ₹1 Crore with some additional reduction in premiums.
During marriage	Protect your spouse's financial future with both immediate lump-sum and long-term income benefits. The flexible payout options help ensure financial stability at affordable rates.
When starting a family	Ensure your children's education and daily living expenses are covered with income for up to 30 years. The plan provides comprehensive protection as your family grows, all at competitive premiums.
If you have an ongoing loan	The immediate lump-sum payout helps clear outstanding loans, preventing a financial burden on your family. Regular income helps ensure ongoing expenses are met on time.
Mid-career	The plan ensures your family's financial security with competitive premiums regardless of when you start.
When diagnosed with a terminal illness	Terminal illness benefit¹ pays 50% of the sum assured and waives future premiums, providing financial relief during critical times while keeping coverage active.

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Frequently Asked Questions on Shubh Family Protect?

What is Tata AIA Shubh Family Protect?

Tata AIA Shubh Family Protect is a popular life insurance plan developed to provide your family the financial security they deserve. In case of unfortunate event of the demise of the life insured, the plan provides with both immediate financial security and long-term income. Alternatively, one can choose a combination of lump-sum payout with a regular income benefit to ensure continuous support for your loved ones.
What is the difference between basic sum assured and effective sum assured?

Basic sum assured is the coverage amount you choose when buying the policy. The effective sum assured is 10% higher than the basic sum assured.
What discounts are available under Shubh Family Protect?

Female policyholders receive 15% lower premiums throughout the policy term. Salaried customers get an 8.5% discount on the first-year premium.
What are the premium payment options available under this plan?

With Tata AIA Shubh Family Protect you can pay using Single Pay, Limited Pay, or Regular Pay options based on your financial convenience.
What is the minimum and maximum sum assured?

Individuals can choose a Sum Assured between ₹50 lakhs and ₹1 crore, depending on your financial needs and eligibility.
What are the payout options available with Tata AIA Shubh Family Protect?
The policyholder can choose between multiple payout options:
- Lump-sum payout: Receive a onetime payout for your family
- Regular Income payout: Receive regular Income for up to 30 years
- Combination: Receive combination of Lump-sum payout or Regular income payout
The income can be received monthly, quarterly, half-yearly, or annually.
What is the Terminal Illness Benefit offered by Shubh Family Protect?

In this plan, if the life insured is diagnosed with a terminal illness, then 50% of the effective Sum Assured is paid immediately as per the chosen payout plan, and all future premiums are waived off. The policy will remain active for the remaining benefits.

Disclaimer
- Shubh Family Protect is a name of Tata AIA Sampoorna Raksha Promise (Non-linked, non-participating, pure risk, individual life insurance product (UIN:110N176V09) Dependent care option. The “Dependent Care Option” provides a combination of lump-sum and staggered income benefits. Under this option, the death benefit is paid partly as a lump-sum and the remaining as regular income based on the frequency and benefit period (up to 30 years) chosen by the policyholder.
- For more details on features and bene ts available under other plan options please refer to the product brochure and T&C.
- ¹With “Payor Accelerator benefit” the benefit amount equal to 50% of the Effective Sum Assured is paid out as the payout plan chosen on acceptance of Terminal Illness (TI) claim. Upon payment of the TI claim, all the future premiums (base benefit and cover enhancement options, if opted) shall be waived off and the policy will continue to remain inforce for the remaining applicable benefit(s).
- ²As per the duly approved product design and terms & conditions of the product, this 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.
- ³Individual Death Claim Settlement Ratio is 99.41% for FY 2024- 25 as per the latest annual audited figures.
- ⁴Death benefit paid as lump-sum and regular income as per chosen frequency (Annual / Half-yearly / Quarterly / Monthly) and benefit period (up to 30 years). 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 all the premiums paid.
- ⁵Sample Illustration is of Tata AIA Sampoorna Raksha Promise (Non-linked, non-participating, pure risk, individual life insurance product) Life Promise option. The above examples are for a standard Male life non-smoker individual without any discount.
- ⁶Tax 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
- ⁷No 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.
- ⁸With Flexi Pay Benefit, 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). | This 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 Premium Deferment, 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 This benefit payable under the Policy or Rider(s).
- Please consult your own tax consultant to know the tax benefits available to you. 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.
- This product is underwritten by Tata AIA Life Insurance Company Ltd. Life option is pure term option. Other plan options are available under this product.
- Insurance cover is available under this product. This plan is not a guaranteed issuance plan, and it will be subject to Company’s underwriting and acceptance.
- In case of substandard lives extra premiums will be charged as per our underwriting guidelines.
- L&C/Advt/2025/Nov/4304