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The most important purpose of term insurance is to provide financial protection to your family in case of any unfortunate life events. If you meet an untimely demise during the policy term, your family will be protected with the predetermined sum assured under the term plan. This is why it is necessary to opt for adequate term insurance coverage that can also deal with medical emergencies and other contingencies.
Recently, life has become even more uncertain with the COVID-19 pandemic. Therefore, securing your family’s financial future also needs to be a more carefully planned process. And so, apart from the various emergencies and risks you can consider while buying term insurance, ensure that your term plan also offers coverage against COVID-19-related deaths.
The most important purpose of term insurance is to provide financial protection to your family in case of any unfortunate life events. If you meet an untimely demise during the policy term, your family will be protected with the predetermined sum assured under the term plan. This is why it is necessary to opt for adequate term insurance coverage that can also deal with medical emergencies and other contingencies.
Recently, life has become even more uncertain with the COVID-19 pandemic. Therefore, securing your family’s financial future also needs to be a more carefully planned process. And so, apart from the various emergencies and risks you can consider while buying term insurance, ensure that your term plan also offers coverage against COVID-19-related deaths.
A simple term plan offers pure life cover protection to your family in case of an uncertain event. However, a term plan with market-linked returns~ combines the benefit of life insurance coverage and market-linked~ investments under one policy. With such a comprehensive term plan, not only can you secure your family’s future but also invest in wealth-creation opportunities over the long term.
Under a market-linked~ term plan, you can invest in various investment funds per your risk appetite and objectives. You can choose from our multiple top-rated funds between equity-based, debt-based as well as hybrid funds - offered under the various market-linked plans. You can either integrate your entire investment under one fund or diversify it into multiple funds. Depending on the performance of these funds as per the market movements, the plan earns the fund value until the policy matures, which is then paid out as the maturity benefit.
IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER
Tata AIA
Tata AIA
Tata AIA
Tata AIA
Solution Composition
People have their individual reasons for buying a term plan. Some of the main reasons why you should get a term plan or even a term plan with market-linked returns:
A term plan can offer extensive financial coverage at reasonable premiums per your needs and preferences. You can also customise the policy and payment terms to make your premiums more affordable. And if you buy a term plan at a young age, you can avail of lower premiums due to the lower risk of health conditions.
The term plan will protect your family against various financial risks in case of your untimely death during the policy term. To ensure that all their needs can be covered, choose adequate coverage.
In your absence, your unpaid loans and debts may become a financial burden for your loved ones. But with enough term plan coverage, they can manage to settle these loans and debts while also leading a financially secure life. When buying your term plan, be sure to consider these liabilities so that your family does not have to reel under any pressure.
Term plans with market-linked returns~, such as the Tata AIA Param Rakshak Plus, Tata AIA Param Rakshak, Tata AIA Param Rakshak II and Tata AIA Param Rakshak III, help you create wealth through market-linked investments. While you can focus on growing your wealth, the insurance coverage available under these plans secures your family.
Plan Comparison
Benefit |
Tata AIA Param Rakshak |
Tata AIA Param Rakshak Plus |
Tata AIA Param Rakshak II |
Tata AIA Param Rakshak III |
Life Insurance Cover
|
Yes |
Yes |
Yes |
Yes |
Market Linked Returns~
|
Yes |
Yes |
Yes |
Yes |
Accidental Death • Additional Sum Assured in case of Accidental Death. • 2X Additional Sum Assured in case of accidental death in public transport. |
Yes |
Yes |
Yes
|
Yes
|
Accidental Total & Permanent Disability • Benefit payout in case of Total and Permanent disability to accident. • 2X Benefit in case of disability due to accident in public transport |
Yes |
Yes |
Yes |
Yes
|
CritiCare Plus 40 Critical Illness Conditions covered |
No |
Yes |
No |
No |
HospiCare Hospital Cash Benefit • Per day Hospitalization Benefit at 0.5% of Sum Assured • 2X of Per day Hospitalization Benefit for ICU Benefit |
No |
Yes |
No |
No |
Return on Maturity4 at the end of the Policy Term Get the fund value on maturity from the base plan
|
Yes |
Yes |
Yes |
Yes |
| Income Tax Benefits | Yes |
Yes |
Yes |
Yes |
Term Booster5 10% Sum Assured for Terminal Illness |
No |
No |
Yes |
Yes
|
Tata AIA Vitality2 A science-based wellness program that helps you improve your health while also rewarding you. Get up to 10% upfront discount3 on first year rider premium. |
Yes |
Yes |
Yes |
Yes |
Though a term plan is meant for everyone, here are some categories of policyholders for whom term insurance is a must:
Single Income Families
Single Income Families
Single Parents
Single Parents
Homemakers
Homemakers
Retired Individuals
Retired Individuals
Tata AIA Vitality is a global and holistic science-based program that enables you to focus on improving your health and well-being. The program assists you in setting and meeting your fitness goals and developing a healthier lifestyle through rewards such as a discount on your premiums and cover boosters etc.
On enrolling into the Wellness Program with Tata AIA Vitality Protect / Tata AIA Vitality Health rider, you can get an upfront discount3 of up to 10% on your rider premium. The progress in the program is based on your Wellness Status, which will be determined by different factors such as completing online health assessments, achieving daily and weekly targets on fitness activities and so on.
These are some reasons why you should choose Tata AIA Life Insurance:
You can choose any life insurance plan under any of our categories as per your needs. Our policies offer flexibility in terms of coverage, policy terms, and premium payment options to make the selection easier for you.
If you are deciding between two policies or plan options to choose one, you can easily compare them on our official website. That way, you can compare the features, benefits, and premiums of both options before choosing one.
When purchasing a new policy, Tata AIA Life Insurance offers a simple and swift online process for your convenience. You can also choose from multiple digital payment options for easy premium payments.
The claim settlement ratio denotes the number of claims honoured each year. With an individual death claim settlement ratio of 98.53%1 in the FY 2021-22, you can rely on us to settle your claims in a timely and efficient manner!
1T&C apply
Our experts are happy to help you!
What is a term plan with market-linked returns?
A term plan with market-linked~ returns offer the combined benefit of a term insurance plan and investment under a single policy. Hence, you can get comprehensive life insurance protection for your family and invest in wealth creation throughout the policy tenure.
When the policy matures, you can avail of the investment returns to fulfil your financial goals while ensuring the financial security of your family.
Is a term plan with market-linked returns better than a ULIP?
Unit-linked Insurance Plans offer life cover protection to your family along with investment opportunities. However, the life cover component under a term insurance plan is much more comprehensive and offers great flexibility.
While a ULIP can be a good choice for investments, a term plan with market-linked returns~ can offer a more wholesome approach to getting extensive life cover and wealth creation opportunities.
When should I buy a term insurance plan?
It is advisable to get a term insurance plan as early as possible so that you can benefit from lower premium payments. At an older age, with potential health conditions increases the risk of coverage; hence, the premiums are also higher. You can buy a term plan once you meet the minimum entry age criteria. However, the maximum age limit for buying a term plan will vary depending on the plan option selected.
Can I buy a term plan with market-linked returns~ online?
Yes, you can purchase our best-selling term plan with market linked returns Tata AIA Param Rakshak Plus and the Tata AIA Param Rakshak online on our official website.
What is the lowest and highest term insurance coverage that I can opt for?
The lowest sum assured or term insurance coverage you can select for your policy is specified for each term insurance plan. You can choose the highest sum assured as per your needs. However, the approval of the sum assured will be subject to the guidelines as per plan criteria.
Disclaimer
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