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Term Insurance for High Net Worth Individuals (HNIs)

Term Insurance for High Net Worth Individuals (HNIs) is a unique life insurance plan, offering high coverage to match their financial needs, higher... Read more incomes, and large assets. The plan provides a high sum assured and flexible premium payment options. HNIs consider these plans useful for liquidity planning. They also support long-term wealth management strategies. Read less

Term Insurance for High Net Worth Individuals (HNIs) is a unique... Read more life insurance plan, offering high coverage to match their financial needs, higher incomes, and large assets. The plan provides a high sum assured and flexible premium payment options. HNIs consider these plans useful for liquidity planning. They also support long-term wealth management strategies. Read less

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₹ 4.2 Lakh

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Discounts

2% Milestone discount

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 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.

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Tata AIA Sampoorna Raksha Promise - Non-Linked, Non-Participating, Pure Risk, Individual Life Insurance Product (UIN:110N176V11)

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Get ₹1 Crore Life Cover
@₹501/month¹

Up to 18.5% discount² (1^st year premium)
Return of premium³ option
4 hour claim settlement⁴

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Who is called an HNI (High Net-Worth Individual)?

Term insurance for HNIs is designed for a focused group. Thus, it is important to understand who actually comes under the category of HNI in India. Only they can buy these term insurance plans.

In India, every person holding liquid assets above ₹5 crores is an HNI. Liquid assets comprise cash, deposits, and brokerage balances. These customers usually invest in stocks, bonds, mutual funds, or business ventures. They require personalised wealth management solutions.

HNIs typically require tax-efficient strategies, estate planning, and customised insurance products for their financial goals. An HNI could be an entrepreneur, a senior corporate executive, or even an experienced investor.

Example: The founder of a technology start-up who has invested ₹10 crore in mutual funds is an HNI.

There are three categories of HNIs dependent on net worth:

Regular HNIs: Those having ₹5 crore or more in liquid assets.
Very High Net Worth Individuals: Those having ₹5 crore-₹25 crore.
Ultra High Net Worth Individuals: UHNWIs have a net worth above ₹25 crore.

What is the term insurance for High Net Worth Individuals?

Term insurance plans for high-income individuals are life insurance plans offering a higher sum assured at an affordable rate. This particular plan is specifically for high net worth Individuals (HNIs) who mostly have more responsibilities when it comes to finances. In the event of the policyholder’s death, the nominees will receive a tax5-free amount. This amount helps the family continue living their lifestyle or repay their liabilities. The high coverage component makes the high net worth individual insurance plan a valuable financial option.

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Choose a Tata AIA term insurance plan that suits your needs

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

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Non-Linked, Non-Participating, Pure Risk, Individual Life Insurance Product (UIN:110N176V11)

Tata AIA

Maha Raksha Supreme Select

Get ₹2 Cr life cover at 679/month⁷
Up to 18.5% discount2 (1^st year premium)
Waiver of premium if diagnosed with Terminal illness

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

What are the types of HNI (High Net-Worth Individuals)?

HNIs are classified into three main types depending on their net worth:

High Net Worth Individuals (HNIs)

HNIs have liquid assets of more than ₹5 crores. Their investments could be cash, fixed deposits, mutual funds, or shares. They primarily concentrate on basic asset protection, tax⁵-saving, or securing the financial future of their families.

Very High Net Worth Individuals (VHNWIs)

VHNWIs have a total net worth between ₹5 crore and ₹25 crore. They hold liquid and non-liquid wealth, which may include several properties or business interests. Their wealth planning includes complex tax planning techniques and tailored insurance solutions that protect their accumulating wealth.

Ultra High Net Worth Individuals (UHNWIs)

The net worth of the UHNWIs exceeds ₹25 crore. The sources of their wealth might be international investments and luxury assets, as well as business assets. They require advanced wealth management services such as estate planning, succession planning, international taxation, and high insurance. The primary concern for the UHNWIs revolves around the preservation of legacy, along with financial security for the succeeding generations.

Why do HNIs need term insurance plans?

Many HNIs feel term insurance is unnecessary because they already have enough wealth to support their families. However, term insurance is an essential part of long-term financial planning, even for wealthy individuals. Key reasons HNIs benefit from term insurance are:

Protects family lifestyle: If the policyholder passes away, the payout helps the family maintain their standard of living and manage financial obligations.
Ensures liabilities are covered: It provides funds to repay loans, debts, and other liabilities without affecting the family’s personal wealth.
Supports estate and inheritance planning: It helps cover estate taxes and ensures smooth transfer of wealth to future generations.
Secures business continuity: For business owners, the payout can support ongoing business expenses and prevent disruption.
Offers customised plans for HNIs: Insurance companies provide special HNI categories like Silver, Gold, or Platinum, based on annual premiums.
Balances risk in financial portfolios: While HNIs may invest in market-linked products or real estate, term insurance adds risk-free protection to their financial strategy.
Alternative to traditional term cover: Whole life insurance is also gaining popularity among HNIs because it provides lifelong protection and can accumulate cash value over time.

What are the eligibility criteria to buy term insurance for HNIs?

Eligibility criteria for buying HNI’s term insurance are:

Age: The applicant has to be between 18 and 65 years of age.
Income: Annual income should be more than ₹25 lakhs.
Health Status: The person applying must have good health and may need to undertake a medical test.
Occupation: Primarily for high-income earners such as business owners, executives, and other professionals.
Residency: The candidate should be an Indian resident to buy the term insurance plans for HNIs.

Limited vs regular vs single premium payment mode

To understand which option may suit High Net-Worth Individuals (HNIs) better, here is a simple comparison:

Feature	Limited Premium	Regular Premium	Single Premium
Premium Payment Duration	Pay for a fixed period (e.g., 5, 10, or 15 years). After that, no further payments are needed.	Pay premiums throughout the entire policy term.	One-time lump sum payment for the full policy term.
Discounts / Offers	Some discounts may apply, though they are not as high as a single premium.	Minimal or no discounts.	Highest discounts are available since you pay everything upfront.
Default Risk	Moderate risk during the payment period; once completed, no further risk.	Higher risk—missing a payment can impact your coverage.	No default risk after the initial payment.
Financial Flexibility	Suited for those wanting to complete payments early and free themselves sooner.	Suited for those preferring smaller, spread-out payments over the term.	Ideal for those with surplus funds who can pay in one go.
Tax Benefits	Eligible under Section 80C; death benefit tax⁵-free under Section 10(10D).	Eligible under Section 80C; death benefit tax⁵-free under Section 10(10D).	Eligible, but annual deduction benefits are limited due to one-time payment.

Factors to consider before buying term insurance for HNIs

These are the points that must be considered prior to purchasing high-net-worth individuals term insurance:

Financial needs: Determining the type of financial protection you require for your family is important to select a plan according to your needs.
Insurance type: Analysing various types of insurance offered helps select the type suited for HNIs.
Adequate coverage: It’s vital to ensure the insurance amount is sufficient for repayment of loans as well as meeting other expenses. A basic rule is 10× the income per annum.
Policy details: Reviewing policy terms, riders⁶, maturity/death benefits, and add-ons is critical before buying.
Medical history: Health and family medical history affect premiums. Buying early can help you get lower premium rates.
Nominee: Adding a nominee ensuring the payout goes to the right person in your absence.

Document required to purchase term insurance for HNIs

During term insurance purchase, there will be some necessary papers required by the insurer to check your identity, financial eligibility, and risk profile.

Age proof: Passport, Birth Certificate, PAN Card
ID proof: Aadhaar Card, Passport or Voter ID Card
Address proof: Aadhaar Card, Passport, or recent Utility Bill
Income proof: Latest ITR, Bank Statement, Form 16, Salary Slips

Conclusion

Term insurance plans for High Net Worth Individuals are a necessary part of their overall wealth strategy. Even with their substantial existing wealth base, HNIs opt for term insurance plans to secure their family’s lifestyle expenses, liabilities, their estate, or business. Such plans are designed to cater to the requirements of specific types of HNIs, including HNIs, VHNWIs, or UHNWIs. Term insurance helps the HNI achieve the benefits of peace of mind without risk, as well as a balanced asset allocation strategy within their overall wealth.

Does the net-worth value include term life insurance?

No, the net worth value does not include term life insurance; it counts only liquid and other assets.

Is whole life insurance good for high net worth individuals?

Yes, it can be beneficial for HNIs as it provides lifelong coverage and cash value accumulation.

What is the minimum age for purchasing Term Insurance for HNI?

18 is the minimum age for purchasing a term insurance plan for HNI.

Does Term Insurance for high-net-worth individuals offer tax benefits?

Yes, premiums may qualify for Section 80C deductions, and the death benefit is tax⁵-free under Section 10(10D).

What are the exclusions for Term Insurance policies targeted at HNIs?

Common exclusions include suicide within the first year, risky or hazardous activities, war, and pre-existing critical illnesses as specified in the policy.

Tata AIA Sampoorna Raksha Promise - Non-Linked, Non-Participating, pure risk, Individual Life Insurance Product (UIN:110N176V11)
Tata AIA Maha Raksha Supreme Select - Non-Linked, Non-Participating, Pure Risk, Individual Life Insurance Product (UIN: 110N171V14)
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.
²As per the duly approved product design and terms & conditions of the product, this 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
⁵Income 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.
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.
⁶Rider 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.
⁷As per the duly approved product design and terms & conditions of the product, Illustrated Premium of ₹679 is the monthly premium 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 of Tata AIA Maha Raksha Supreme Select with first year premium discount for digital purchase and salaried person.
This product is underwritten by Tata AIA Life Insurance Company Ltd.
The 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. The precise terms and condition of this plan are specified in the Policy Contract.
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 non-standard lives and on submission of non-standard age proof, extra premiums will be charged as per our underwriting guidelines.
L&C/Advt/2026/Feb/0926