TATA AIA Life iRraksha Supreme Plan

What is the Plan all About?

You must want to secure the financial future of your family, irrespective of any eventuality. Tata AIA iRaksha Supreme is a non-linked, non-participating term plan that will ensure your peace of mind. It’s an online term plan available at an extremely attractive and affordable price. Get this term plan at the click of your mouse. Buy this plan online at the convenience of your location and time.

What are the Key Features?

Flexibility to choose from different premium payment options

Preferential premium rates for non-smokers

Special premium rates for female policyholders

Discounted premium rates for SA Rs.75 lacs and above

Hassle free buying, as its available online

What are the Plan benefits?

Death Benefit

In the event of demise of the life assured during the policy term, the death benefit will be paid to the nominee. The Death benefit will be the higher of one of the following:

Sum assured
105% of total premiums paid
10 times the annualized premiums

Surrender Benefit

It is recommended to continue the policy and even then, you are unable to continue the policy, it can be surrendered.

Surrender Benefit= Surrender Value Factor * (Outstanding Policy Term / Policy Term) * Total Premiums Paid

Paid-up Benefit

If not paying the premiums during the grace period, your policy will acquire a paid-up value incase full premiums have been paid up to 3 and 7 years for 5 and 10 policy terms.

Paid-up Sum Assured = (Number of Premiums Paid / Total Number of Premiums Payable) * Sum Assured

Who can Buy the Plan?

Feature	Specification
Age (as on last birthday)	Minimum: 18 Years Maximum:70 Years
Age at Maturity	80 Years
Policy Tenure	Minimum: 10 Years Maximum: 40 Years
Sum Assured	Minimum: 50 Lacs Maximum: No Limit (subject to underwriting)
Premium Paying Term	Regular, Single and Limited paying term Years
Premium Paying Mode	Semi Annually & Annually
Maturity Proceeds	Nil
Plan Type	Online
Grace Period	30 days

Is any Rider Available with this Plan?

There are no riders benefits available with this plan.

Premium Illustration

Sample illustration of the Premium Amount for an individual of age 25, 30 and 35 years, opting for a Life Cover of Rs. 50 lacs or Rs. 1 crore as Sum Assured and 25 years as Policy Tenure.

	25 years	30 years	35 years
Sum assured = Rs. 1crore	Rs. 7,099	Rs. 8,015	Rs. 10,649
Sum assured = Rs. 50 lacs	Rs. 4,408	Rs. 4,866	Rs. 6,183

(Note: Premium amount is for a non smoker individual keeping good health conditions at the time of buying this insurance plan)

Is the Plan, eligible for Tax Benefit?

Tata AIA iRaksha Supreme is eligible for Tax benefits as stated:

Premiums paid qualify for tax benefits as per Section 80C of the Income Tax Act
Death benefit(s) are entitled for tax benefits as per Section 10 (10D) of the Income Tax Act.

(Subject to the provision stated therein.)