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    Param Rakshak Pro solution comprises of Tata AIA Smart Sampoorna Raksha Pro, A Unit-linked, Non-participating, Individual Life Insurance Plan (UIN: 110L172V01) and Tata AIA Vitality Protect Plus, A Non-linked, Non-participating, Individual Health Rider (UIN: 110A048V03).

    Benefits at a Glance

    • Build Wealth

      Get returns by investing in funds rated 4 or 5 stars8 by Morningstar9, reflecting strong performance and reliability.

    • Get Financial Protection

      Get comprehensive life cover to protect your loved ones in the case of any unfortunate event.

    • Accidental Total & Permanent Disability

      Extra cover13 for total and permanent disability due to accidents, with double benefit for accidents in public transport or specified situations.

    • Terminal Illness Cover with Term Booster1

      If the life insured is diagnosed with a terminal illness, they will receive 10% of the sum assured under the life insurance policy.

    • Get Total Fund Value + Rider Premiums Back

      Apart from the total fund value as maturity7 amount, you will also get back all the rider premiums paid by you at the end of the policy term.

    • Get Income Tax Benefits

      Save up to ₹46,8004 in taxes on the premiums paid, which qualify for tax6 deductions of up to ₹1.5 lakh under Section 80C.

    Downloads

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    Frequently Asked Questions

    Is Param Rakshak Pro a Term Plan or a ULIP Plan?

    Param Rakshak Pro is a combination of both. It offers the protection of a term plan by providing life cover and also the wealth creation benefits of a ULIP plan by investing in market-linked12 funds.

    What does Param Rakshak Pro comprise of?

    Param Rakshak Pro comprises of comprehensive life insurance coverage with market-linked returns11 boosted by in-built rider3 options with the Wellness Program under Tata AIA Vitality10.

    Can I switch between different funds in this plan?

    Yes, Tata AIA Param Rakshak Pro offers the flexibility to switch between various market-linked funds, allowing you to adapt your investment strategy based on market conditions and your financial goals.

    Are there any tax benefits associated with Tata AIA Param Rakshak Pro?

    Yes, premiums paid, and benefits received under this plan are eligible for tax benefits under Sections 80C and 10(10D) of the Income Tax Act, subject to the prevailing tax laws. This can help you save on taxes while securing your financial future.

    Disclaimer
    • The linked insurance product do not offer any liquidity during the first five years of the contract. The policy holder will not be able to surrender/withdraw the monies invested in linked insurance products completely or partially till the end of the fifth year.
    • Param Rakshak Pro solution comprises of Tata AIA Smart Sampoorna Raksha Pro, A Unit-linked, Non-participating, Individual Life Insurance Plan (UIN: 110L172V01) and Tata AIA Vitality Protect Plus, A Non-linked, Non-participating, Individual Health Rider (UIN: 110A048V03). Tata AIA Smart Sampoorna Raksha Pro is also available individually for sale.
    • Critical Illness, Accidental Death, Accidental Disability, Term Booster are available with Tata AIA Vitality Protect Plus (UIN: 110A048V03).
    • *All Premiums, Charges, and interest payable under the policy are exclusive of applicable taxes, duties, surcharge, cesses or levies which will be entirely borne/ paid by the Policyholder, in addition to the payment of such Premium, charges or interest. Tata AIA Life shall have the right to claim, deduct, adjust and recover the amount of any applicable tax or imposition, levied by any statutory or administrative body, from the benefits payable under the Policy.
    • ^Some benefits are guaranteed and some benefits are variable with returns based on the future performance of your insurer carrying on life insurance business. If your policy offers guaranteed benefits then these will be clearly marked "guaranteed" in the illustration table on this page. If your policy offers variable benefits then the illustrations on this page will show two different rates of assumed future investment returns. These assumed rates of return are not guaranteed and they are not the upper or lower limits of what you might get back, as the value of your policy is dependent on a number of factors including actual future investment performance.
    • 1The Insured Amount under Term Booster option (in Vitality Protect Plus rider) is payable on earlier of death or diagnosis of Terminal illness of the Life Insured. Please refer Terms and Conditions for more details.
    • 3Certain riders are inbuilt in this solution and are attached at inception if you have purchased this solution. For more details on benefits, premiums and exclusions under the Rider, please contact Tata AIA Life's Insurance Advisor/Intermediary/ branch. Life insurance cover is available under the solution. For details on products, associated 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.
    • 4 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.
    • 55-year computed NAV for Multi Cap Fund as of June 2024. Other funds are also available. Benchmark of this fund is S&P BSE 200.
    • 6Income Tax benefits would be available as per the prevailing income tax laws, subject to fulfilment 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.
    • 7On survival to the end of the policy term, the Total Fund Value including Top-Up Premium Fund Value valued at applicable NAV on the date of Maturity will be paid.
    • 8All funds open for new business which have completed 5 years since inception are rated 4 or 5 star by Morningstar as of May’24.
    • 9©2024 Morningstar. All rights reserved. The Morningstar name is a registered trademark of Morningstar, Inc. in India, and other jurisdictions. The information contained here: (1) includes the proprietary information of Morningstar, Inc. and its affiliates, including, without limitation, Morningstar India Private Limited (“Morningstar”); (2) may not be copied, redistributed or used, by any means, in whole or in part, without the prior, written consent of Morningstar; (3) is not warranted to be complete, accurate or timely; and (4) may be drawn from data published on various dates and procured from various sources and (5) shall not be construed as an offer to buy or sell any security or other investment vehicle. Neither Morningstar, Inc. nor any of its affiliates (including, without limitation, Morningstar) nor any of their officers, directors, employees, associates, or agents shall be responsible or liable for any trading decisions, damages or other losses resulting directly or indirectly from the information.
    • 10Tata AIA Vitality - A Wellness Program that offers you an upfront discount at policy inception. You can also earn premium discount / cover booster (as applicable) for subsequent years on policy anniversary basis your Vitality Status (tracked on Vitality app). Please refer rider brochures for additional details on health and wellness benefits.
    • 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.
    • 11On enrolling into the wellness Program, you get an upfront discount of 5% on first year premium for Accidental Death, Accidental Total & Permanent Disability, Accidental Disability Care Benefits and of 10% on first year premiums of the other benefit options. The rewards are offered on cumulative basis and in any year, the maximum rewards in view of both the upfront rewards and annual rewards _ex together shall be 15% for Accidental Disability Care and 30% for all other benefit options. Discount is driven by accumulated points which is achieved through wellness status. Please refer policy document for more details.
    • 12The premium paid in Unit Linked Life Insurance policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions. The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these plans, their future prospects and returns. On survival to the end of the policy term, the Total Fund Value including Top-Up Premium Fund Value valued at applicable NAV on the date of Maturity will be paid.
    • 13 Refer rider brochure for details.
    • Past performance is not indicative of future performance. Returns are calculated on an absolute basis for a period of less than (or equal to) a year, with reinvestment of dividends (if any).
    • Please know the associated risks and the applicable charges, from your Insurance Agent or the Intermediary or Policy Document issued by the Insurance Company. Please make your own independent decision after consulting your financial or other professional advisor.
    • The performance of the managed portfolios and funds is not guaranteed, and the value may increase or decrease in accordance with the future experience of the managed portfolios and funds.
    • The solution is underwritten by Tata AIA Life Insurance Company Limited. The solutions are not guaranteed issuance solutions and it will be subject to Company’s underwriting and acceptance.
    • 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. Unit Linked Life Insurance products are different from traditional insurance products and are subject to risk factors.
    • The fund is managed by Tata AIA Life Insurance Company Ltd. (hereinafter the “Company”). Tata AIA Life Insurance Company Limited is only the name of the Insurance Company & Tata AIA Smart Sampoorna Raksha Pro is only the name of the Unit Linked Life Insurance contract and does not in any way indicate the quality of the contract, its future prospects or returns.
    • Various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these plans, their future prospects and returns. Premium paid in Unit Linked Life Insurance policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions.
    • Past performance is not indicative of future performance. Returns are calculated on an absolute basis for a period of less than (or equal to) a year, with reinvestment of dividends (if any). Life insurance cover is available under the solution. For details on products, associated risk factors, terms and conditions please read Sales Brochure carefully before concluding a sale. 

    Tata AIA Life Insurance Company Ltd. (IRDA Regn. No. 110 ·CIN:U66010MH2000PLC128403. Registered & Corporate Office: 14th Floor, Tower A, Peninsula Business Park, Senapati Bapat Marg, Lower Parel, Mumbai 400013. Trade logo displayed above belongs to Tata Sons Ltd and AIA Group Ltd. and is used by Tata AIA Life Insurance Company Ltd under a license. For any information including cancellation, claims and complaints, please contact our Insurance Advisor/Intermediary or visit Tata AIA Life's nearest branch office or call 1-860-266-9966 or write to us at customercare@tataaia.com. Visit us at www.tataaia.com

     

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