Tata AIA Life InsuranceParam Rakshak Solution

If you are purchasing the Tata AIA Life Insurance Param Rakshak solution, the minimum premium amount, depending upon the premium payment term, is as follows.

• Base Plan Premium: 5 Pay – Rs. 60,000 per annum

• Others – Rs. 18,000 per annum

You can pay your premium for this plan annually, half yearly, quarterly or monthly.

You can choose any of the following channels to reach out to us and raise a claim.

• Email us at: customercare@tataaia.com

• Call our helpline number - 1860-266-9966 (local charges apply)

• Walk into any of the TALIC branch offices

• Write directly to us at:

  The Claims Department,
  Tata AIA Life Insurance Company Limited
  B- wing, 9th Floor,
  I-Think Techno Campus,
  Behind TCS, Pokhran Road No.2,
  Close to Eastern Express Highway,
  Thane (West) 400 607.
  IRDA Regn No. 110

You will have to submit the following mandatory documents to buy an insurance policy.
 

Proof of address:

The following documents are accepted as valid proof of your address.

• Bank Statement (or passbook) with the latest entries for six months 

• Aadhaar card

• Passport

• Voter's ID

• Driving license

• Electricity/telephone bill

• Ration card
   

Proof of identity:

Some of the documents that are accepted as valid proof of your identity include:

• PAN card

• Aadhaar card

• Passport

• Driving license
   

Documents showing proof of income:

These documents, which are required only for a few plans, include:

• Salary slips of the previous 3 months

• Income tax returns/Employer certificate

• Bank statement of the previous 6 months

• Latest Form 16

Riders^ are additional provisions that you can add on to your basic insurance policy, in order to enhance the protection and the benefits you receive.

Tata AIA Life Insurance Param Rakshak is a pre-fixed solution, which comprises of the following:

• Tata AIA Life Insurance Smart Sampoorna Raksha plan, a Unit-linked, Non-participating, Benefits of individual Life Insurance Plan for Savings and Protection (UIN:110L156V02)

• Tata AIA Vitality Protect Plus, a Non-linked, Non-participating, Individual Health Rider (UIN: 110A048V01)

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.

• ¹On 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. Tata AIA Life Insurance Smart Sampoorna Raksha is also available individually for sale. The customer is advised to refer the detailed sales brochure of respective individual product and riders mentioned herein before concluding sale.
• The solutions are not guaranteed issuance solutions and it will be subject to Company’s underwriting and acceptance. Benefi­ts stipulated are available only if all the premiums are paid as per the premium paying term and the policies are in force till the completion of entire policy term opted for.
• 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 Life Insurance Smart Sampoorna Raksha 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). All investments made by the Company are subject to market risks. The Company does not guarantee any assured returns.
• The investment income and price may go down as well as up depending on several factors influencing the market. 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 solutions are underwritten by Tata AIA Life Insurance Company Limited.
• 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. For more details on benefi­ts, premiums and exclusions under the Rider(s), please refer to the Rider Brochures or contact Tata AIA Life's Insurance Advisor/Intermediary/ Branch.
• ^~Some Benefits are guaranteed, and some Benefits are variable (non-guaranteed) with returns based on the future performance of the opted funds and fulfilment of other applicable Policy conditions. If your Policy offers guaranteed returns, then these will be clearly marked as "guaranteed" in the illustration table on this page. If your policy offers non-guaranteed returns, then illustration will show two different rates of assumed future investment returns. The above illustration has been determined using assumed future investment returns of 8% and 4% respectively. The rates used have been set by the Life Insurance Council. These assumed rates of return are not guaranteed and there are no upper and lower limits of what you might get back at Maturity, due to the fact that the value of your Policy is dependent on a number of factors including future investment performance.
• ^{^}Riders are available for a nominal extra cost. Health and 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.
• ^##On 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 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.
• 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 (Tata AIA Vitality) shall not be considered as a medical advice or a substitute to a consultation/treatment by a professional medical practitioner.
• L&C/Advt/2022/Oct/2414