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Term Insurance for Self-Employed

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As a self-employed individual, you have the opportunity to shape your path and turn your aspirations into reality from scratch. While this lifestyle offers freedom and autonomy, it also involves shouldering uncertainties without the security of a fixed income. At TATA AIA we recognize the hurdles that self-employed individuals encounter. That's why we provide customized Term Insurance Plans to protect your family's well-being and preserve the assets you've worked hard to build.

Whether you work independently as a freelancer or run your business as an entrepreneur or owner of a company, our term plans are designed to provide security for your loved ones even when you're not around. This way, you can concentrate on pursuing your dreams with a sense of calm and assurance.

Our Best-Selling Term Insurance Plans

Tata AIA

Sampoorna Raksha Promise

Key benefits:

Get ₹ 1 Cr Life Cover at ₹ 488/month*
Upto 15% discount on first year premium^{^}
Get 100% premium back^~

Calculate Premium Know More

Non-Linked, Non-Participating, Pure Risk, Individual Life Insurance Product (UIN:110N176V03)

Tata AIA

Maha Raksha Supreme Select

Key benefits:

Get ₹ 2 Cr Life Cover at ₹ 728/month^##
Enhance protection with Education Secure for your children
Upto 15% discount on first year premium^

Calculate Premium Know More

Non-Linked, Non-Participating, Pure Risk, Individual Life Insurance Product (UIN: 110N171V06)

Why is Term Insurance Important for Self-Employed Individuals?

Being self-employed means your earnings can fluctuate while your duties stay the same always. The reasons why term insurance is crucial to have in your plan include:

Irregular income: Having an income can make it hard to plan ahead financially. That's why it's important to have a safety cushion in place to support your loved ones when things get uncertain.
No Employer Benefits: As a freelancer or self-employed worker, you don’t have a job with benefits like group life insurance or other perks provided by employers, unlike salaried employees who enjoy such benefits.
Loan Repayment: Many self-employed individuals are able to opt for business or personal loans with the assurance that term insurance will prevent these responsibilities from adding stress to their family's finances.
Financial Security: Ensure the stability of your family by safeguarding them from any economic challenges that may surface in your absence. .
Tax Savings: Term life insurance does not only offer protection but also allows for potential tax savings.

Key Features of TATA AIA Term Insurance for Self-Employed:

When crafting TATA AIA Term Insurance Plans, we consider your all requirements. We provide features like;

01

Multiple Coverage Options

Select from a range of coverage options that match your obligations and dreams.
02

Affordability

Get coverage without breaking the bank. Premiums that won't strain your budget!
03

Tailored Policy Options

Choose policy lengths to align with your business objectives and current life phase.
04

Riders

Boost your insurance coverage by including options such, as critical illness protection, accidental death coverage or income support benefits.
05

Flexible Payouts

Choose how you receive your claim money - all in one go or in instalments, depending on what works for your family's financial situation.
06

Tax Benefits

Tax advantages allow you to deduct premiums paid and payouts received under existing tax regulations providing benefits, for policyholders.
07

Easy Applications

Apply for term life insurance easily using our application with a convenient process that saves time and effort.

Benefits of Term Insurance for Self-Employed

When you opt for a TATA AIA Term Plan you gain benefits that guarantee the stability of both yourself and your loved ones.

Ensure the security of your loved ones by providing protection against life's unpredictable events.

Make sure that your loved ones are not left with obligations or debts if something were to happen to you.

Planning for the future involves setting objectives for the long term, like ensuring your childrens education and securing your partners retirement funds.

Enjoy the peace of mind that comes with building your business while also ensuring the security of your family's future.

Our plans are designed to adjust to your lifestyle and financial requirements to offer coverage tailored to your circumstances.

Who Should Opt for TATA AIA Term Insurance?

Term insurance works well for freelancers and self-employed individuals who:

Operate their businesses or pursue entrepreneurial endeavours independently.
Have family members, like kids or aging parents who count on their earnings.
Have debts such as business loans, home loans and personal loans.
Aim to create a lasting inheritance, for their family members and dear ones.
Look for a thorough way to safeguard their family's future.

How to Get Term Insurance with TATA AIA?

Here’s a simple breakdown of the steps:

Determine Your Requirements: Estimate the level of protection you need by considering your obligations and aspirations.
Select the option: Do so by examining TATA AIAs term plans and picking the one that meets your needs.
Submit your Application: We have online and offline options for you to choose from.

Rest assured that your family’s financial security is guaranteed once the policy has been issued to you for protection purposes.

Disclaimer
- Tata AIA Sampoorna Raksha Promise - Non-Linked, Non-Participating, pure risk, Individual Life Insurance Product (UIN:110N176V03)
- Tata AIA Maha Raksha Supreme Select - Non-Linked, Non-Participating, Pure Risk, Individual Life Insurance Product (UIN: 110N171V06)
- *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.
- ⁺Tax 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. 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. Good and Service tax and Cess, if any will be charged extra as per prevailing rates. 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.
- ^This product offers first year digital discount of 10% and first year Salaried discount of 5% for Limited Pay/Regular Pay. For Single Pay, 1% digital discount and 1% salaried discount will be provided in the first year
- ^#Illustrated Premium is the monthly premium excluding taxes for 20 yr. old female, Standard Life, Non-Smoker for 2 Cr. Sum Assured with Policy Term of 15 yrs. (Regular Pay) with Life Secure plan option. 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.
- ^##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.
- ^~Under 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
- ²Individual Death Claim Settlement Ratio is 99.13% for FY 2023-24 as per the latest annual audited figures.
- ⁸Tata AIA Sampoorna Raksha Promise offers first year digital discount of 1% for Single Pay, 10% for Limited Pay/Regular Pay.
- ¹¹This product offers first year discount of 5% for Limited Pay/Regular Pay and 1% for Single Pay to salaried customers.
- ²⁵77,26,727 families protected till December 2023.
- ²⁷As on 03rd April 2024, the company has a total Assets Under Management (AUM) of Rs.100,099.11 Crores.
- ²⁸Individual Death Claim Settlement Ratio is 99.13% for FY 2023 - 24 as per the latest annual audited figures.
- ²⁹Applicable to only non-early claims with more than 3 years of policy duration, non-investigation cases, up to Sum Assured of Rs. 50 lakhs. 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.
- 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.
- L&C/Advt/2025/Feb/0417