TATA AIA Life Term Insurance Plans

1. TATA AIA Life iRraksha Supreme Plan

All of us want to secure the financial future of our family, irrespective of any eventuality or unfortunate event. Tata AIA Life iRaksha Supreme is a non-linked, non-participating term plan that will safeguard your peace of mind by providing a safety net for your family. It’s an online term plan available at an extremely attractive and affordable price.

Key Features

• Flexibility to choose from different premium payment options

• Preferential premium rates for non-smokers

• Special premium rates for female policyholders

• Hassle free buying, as it is available online

Benefits

• Death Benefit

In the event of demise of the life insured during the policy term, the death benefit will be paid to the nominee. The Death benefit will be the higher of Sum assured or 105% of total premiums paid or 10 times the annualized premiums.

• Surrender Benefit

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

• Tax Benefit

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.

2. TATA AIA Life iRraksha TROP

Our family’s financial security is always our top priority always. To ensure their financial protection Tata AIA offers term plan with return of premium which is TATA AIA Life iRaksha TROP which is an online term plan that ensures the return of premium in case the insured survives the policy term along with the death benefit. It is a non-linked non-participating term plan assures you for financial protection of your family plus return the total premiums paid.

Key Features

• Avail dual benefits of financial protection and return of premium

• Choose from different premium payment options

• Preferential premium rates for non-smokers

• Special premium rates for female policyholders

• Special discounts on premium rates higher life cover

Benefits

• Death Benefit

In case of the unfortunate death of the insured, the sum assured will be the amount which is higher of basic sum assured, 105% of total premium paid, 10 times of the annualized premium, or maturity benefit.

• Maturity Benefit

Total premiums are paid back if the life insured survives the policy term as maturity benefit.

• Surrender Benefit

Surrender benefit is paid as Higher of (Cash surrender value or Guaranteed surrender value).

• Tax Benefit

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.

3. TATA AIA Life Maha Raksha Supreme

We all want the economic protection of our family in our presence and absence both.It becomes all the more important in our absence to provide them monetary back up to lead an existing lifestyle without a compromise.The burden of our debts and loans should not fall on them in our absence.The best way to do all this is through opting for a pure term plan Tata AIA Life Insurance Maha Raksha Supreme. It is a non linked , non participatory term plan offering wide range of benefits.

Key Features

• Pure Protection cover at affordable price

• Increase protection at milestone events with Life Stage Protection benefit

• Inbuilt Payout Accelerator Benefit which pays 50% of SA in case of Terminal Illness

• Enhance coverage through Riders

• Discounted rates for females and non smokers

Benefits

• Death Benefit

Upon the death of the life insured the company will to the nominee the Sum Assured on death along with Additional Sum Assured under Life Stage Plus Option, if any less Payout Accelerator Benefit already paid, if any.

• Rider Benefit

This plan offers Tata AIA Life Insurance Accidental Death and Dismemberment (Long Scale) (ADDL) Rider which provides protection of your family by giving an amount equal to the rider sum assured in case of an accidental death. Also, in the event severe dismemberment like loss of limbs or bodily functions or severe burns due to an accident is covered.

• Surrender Benefit

Surrender benefit is payable in case of Single Pay option. The Surrender Value for Single Pay Option = 75% x (Policy Term less Policy duration in complete years)/Policy Term x Single Premium. There is no surrender benefit payable for Regular pay option.

• Tax Benefit

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.