Tata AIA Life Insurance offers the following term insurance plans –

• Tata AIA Life Insurance Sampoorna Raksha Supreme (UIN: 110N160V03) 

• Tata AIA Life Insurance Saral Jeevan Bima (UIN: 110N157V01) 

• InstaProtect Solution 

No, all term plans do not have the same offerings. For example, some term plans, such as Tata AIA Life Insurance Sampoorna Raksha Supreme (UIN:110N160V02) , offer 4 plan options with different features, while the Tata AIA Life Insurance Saral Jeevan Bima (110N157V01) offers a simple, pure risk life cover.

Yes, term insurance plans come with tax benefits under Section 80C and Section 10(10D) of the Income Tax Act. Under the former, the term plan premiums are tax-deductible up to a limit of Rs.1.5 Lakh per year, while under Section 10(10D), the death benefits are exempt from taxation^$.

No, a term plan premium calculator is not the same as other life insurance calculators. For instance, a ULIP calculator will show you the estimated returns you can receive on your policy, while a term insurance plan will show you the sum assured and coverage your family can receive.

No, the benefits offered by a term plan are different from other life insurance plan benefits. For example, a savings plan will enable you to save a financial corpus, while a term plan offers extensive life cover benefits for your family.

No, a pure term insurance will only offer a death benefit to your beneficiaries in the event of your death during the policy term. There will be maturity benefits offered; the policy will expire at the end of the policy term.

The death benefit in a term plan is only payable in case of the policyholder’s death during the policy term after which the coverage is terminated. This amount helps the policyholder’s beneficiaries deal with the loss of income in the absence of the insured.
 

Since pure term plans do not have maturity benefits, the policy will simply expire at the end of the policy term if the policyholder survives the policy term and no other benefits will be paid out.

A pure term plan offers a death benefit to the family of the policyholder in the event of the latter’s untimely death during the policy year and no maturity benefits. However, a return of premium term plan offers a 105% return on the premiums* if the policyholder survives the term.

Yes, you can add riders to your term insurance plan depending on the type of situation you need additional coverage for. You can get a critical illness rider and receive coverage when diagnosed with a critical illness covered under the rider. Or you can get a waiver of premium cover and have future premiums on your policy waived off in case of permanent and total disability or other conditions as stated under the rider¹.

The number of riders you add to your term plan will be based on your need. However, additional riders mean an additional premium, and so, to keep your premium payments in check, choose only the riders¹ you deem necessary.

No, the Tata AIA Life Insurance term insurance calculator does not need your medical tests or reports.

To choose the best term insurance coverage, be sure to analyse your insurance needs, research all term plans, use a term insurance premium calculator to calculate the premiums and compare the plans. Once you have compared the plans, you can choose a policy that suits you and your family well.

Term plans cover all types of death; however, there may be specific guidelines regarding death by suicide. If you need additional life insurance coverage for your family in case of accidental death, you can add an accidental death benefit rider or a similar rider to your term plan.    

When you buy a term plan from Tata AIA Life Insurance, you need not provide any medical documents. You also need not undergo any medical check-ups before buying the term policy if you are young and do not have any potential health conditions. However, this requirement may be subject to the company’s terms and conditions and plan eligibility.

If you fill in the requested details correctly on the term insurance calculator, you will be able to get the right premiums since this online tool has been designed to give accurate results. However, there can be many other additional factors that may affect your premiums.

The use of a term insurance calculator is best before you purchase a term insurance policy, as you cannot adjust your premium payments when renewing your term plan.

Yes, you can adjust the premium amount on the calculator by changing some of the variables on the calculator. However, do remember to provide the right details so that you can get accurate term insurance premium quotes.

Yes, the older you get, the higher your premiums will be. Hence, when you are close to retirement, your premiums will be higher than when you first started working.

Your term plan will lapse if you do not pay the premiums for 2 successive years within the grace period. The lapse will take place from the due date of the first unpaid premium, and you will not be able to avail of any benefits.

With the help of a term insurance calculator, you can easily calculate the premium amount for your 1 crore term insurance. The calculator will help you choose a policy term and a premium paying term that enables you to pay affordable premiums.

Your term life insurance premium will be calculated on the basis of your age, your health, your family’s medical history, your lifestyle habits, your profession, and any other factors that may pose a risk to your health. When you use a term plan premium calculator, these factors will be considered when the calculator determines your premium amount.

When you are young, you are at a lower risk of health conditions than an older person. Since the risk to your life or health is low, the term plan premiums will also be low. As you age, you are at a greater risk of developing lifestyle diseases and other health conditions which need proportionate life insurance coverage. Hence, the premiums will also be higher.

If you have a risky occupation or a job where your life or your health may be at risk, your term plan premiums will be high. The greater the risk, the higher the premium. For instance, a person who is in the mining business will have a higher term plan premium as compared to a teacher or professor.

Your term insurance premium will be determined as per your age, your term policy sum assured, the premium paying term, and the policy term. There are also other factors, such as your health condition, your family’s medical history, your occupation, and lifestyle habits, that will be considered while deciding your term insurance premium.

If you want to find out how to calculate your term plan premium, you can simply use a term insurance calculator that will help you know your premium instantly based on these factors.

If you are a smoker and want to purchase a term insurance plan, your premiums will be calculated as per your sum assured. You can use a term plan calculator to know your premium amount. However, you will not be able to avail of any special premium rates that are offered to women policyholders and non-smokers.

A term insurance claim can only be filed once in case the policyholder meets their untimely demise during the policy tenure. Once the death benefit is paid out to the nominee, the coverage ends, and no other benefits can be offered on the policy.

To file a term insurance claim, contact us through any of the following channels:

• Email: customercare@tataaia.com

• Call - 1860-266-9966 (local charges apply)

• Visit us at any Tata AIA Life Insurance Company branch office. 

• Write 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 can file a death claim on a term insurance policy. In case you have added a critical illness cover to your plan, you can also file a claim for the same if you are diagnosed with a critical illness.

To ensure that your family does not face any hassles at the time of claim settlement, choose a reputed insurance provider with a high claim settlement ratio and fill up your insurance proposal form with correct and accurate details.

Tata AIA Life Insurance has a claim settlement ratio of 98.53% for FY 2021-22^$$

If your nominee wants to file the claim from outside India, they can upload the attested copies of the essential documents online and send them to us by email. To file a claim offline, they can courier these documents to their representative in India, who can submit them to us at any of our offices.