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  • Tata AIA Term Insurance

     4.0 / 5.0   by 13 users
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    Plan Benefits

    Payment Options

    Policy Coverage

    Customer Service

    Few responsibilities are as big as being the only earner in a family. In case of unfortunate events, there will be no one to ensure the financial security and safety of the individual’s family. Since family comes first and caring for the security of your loved ones is of utmost important, your family can meet all uncertainties if you take out the right insurance policy that meets their requirements.

    Term plans from Tata AIA are the ideal solutions for those wish to secure the financial future of their family. The three main protection solutions offered by Tata AIA include iRaksha TROP, iRaksha Supreme and Maha Raksha Supreme.

    Types of TATA AIA Term Insurance Plans:

    1. Tata AIA iRaksha TROP
    2. TATA AIA iRaksha Supreme
    3. Tata AIA Life MahaLife Supreme
    Tata AIA Life iRaksha TROP

    Tata AIA Life Insurance iRaksha TROP is a non-participating, non-linked online term insurance plan that not only ensures that your family will be financially secure in the unfortunate event of your demise, but also ensures that your family will receive all the premiums you have paid when the term of the policy ends. Please note that the premium amount that you receive does not include tax, interest, or underwriting additional premium.

    Feature

    Description

    Entry age

    Minimum: 18 years

    Maximum: 65 years

    Policy term

    Minimum: 10 years

    Maximum: 35 years

    Sum assured

    Minimum: Rs.50 lacs

    Maximum: No limit

    Premium payment

    Minimum annual premium: Rs.17,854

    Maximum annual premium: depends on the sum assured

    Premium payment frequency

    Single, semi-annual, annual, 5 years for policy terms between 10 and 30 years, 10 years for policy terms between 15 and 30 years

    Tata AIA Life iRaksha Supreme

    Tata AIA Life Insurance iRaksha Supreme is a non-participating, non-linked online term insurance plan that is tailored to ensure that your family will be financially protected in case of the unfortunate death of the policyholder.

    Feature

    Description

    Entry age

    Minimum: 18 years

    Maximum: 70 years

    Maximum age at maturity

    80 years

    Policy term

    Minimum: 10 years

    Maximum: 40 years

    Sum assured

    Minimum: Rs.50 lacs

    Maximum: No limit

    Premium payment term

    Limited pay – 5 / 10 years

    Single and regular pay – 10 to 40 years

    Premium payment frequency

    Semi-annual, annual

    Tata AIA Life MahaLife Supreme

    The MahaLife Supreme policy from Tata AIA is a non-participating, non-linked, limited premium-paying endowment assurance policy that helps individuals plan their savings outflow as well as the required regular yearly income inflow. It also provides the other important benefits synonymous with life insurance policies. The plans offer customers two options (A and B) of making premium payments for a certain period (usually 12 or 15 years), and guaranteed yearly income will be granted to you for 18 or 20 years respectively.

    Feature

    Option A

    Option B

    Entry age

    Minimum: 18 years

    Maximum: 50 years

    Minimum: 18 years

    Maximum: 50 years

    Maximum age at maturity

    85 years

    80 years

    Policy term

    Minimum: 35 years

    30 years

    Sum assured

    10X annualised premium

    10X annualised premium

    Premium payment term

    15 years

    12 years

    Minimum premium per annum

    Rs.15,000

    Rs.20,000

    Features and Benefits of Tata AIA Term Insurance:

    • The minimum age to apply for a Tata AIA Term Insurance plan is 18 years.
    • The maximum age to apply for a Tata AIA Term Insurance plan is 70 years.
    • Individuals who apply for a Tata AIA Term Insurance plan must either be self-employed or salaried.
    • The maximum tenure for these plans is 40 years.
    • The minimum sum that can be assured with these plans is Rs.5 lacs and the maximum sum has no limit but is subject to underwriting.
    • The only exclusion is if the policyholder commits suicide within the first year of the policy.
    • Individuals who wish to avail a Tata AIA Term Insurance plan must furnish documents such as identity proof, age proof, income proof, address proof and PAN number.

    Tata AIA Term Plan FAQs:

    1.Q. Are there any savings options better than a Tata AIA life insurance plan?

    A.If you are looking for a plan that ensures the financial security of your family in case of the unfortunate event of your demise, a Tata AIA Life Insurance policy is your best bet. There are three policies to choose from depending upon your financial requirements, viz. iRaksha TROP, iRaksha Supreme and MahaLife Supreme.

    2.Q. Do all policies have the same modes of payment?

    A.Most policies allow customers to make premium payments either on a monthly, quarterly, semi-annual or annual basis.

    3.Q. What options does the company provide to make premium payments?

    A.Customers of Tata AIA can make premium payments through the internet, ECS, cash, or cheque.

    4.Q. What are the consequences if I fail to make premium payments on time?

    A.Customers who fail to pay their premium on time will receive a grace period of 30 days. If the premium is not paid within the grace period, the insurance policy will be blocked and you will then be given two years to revive it if you want to continue receiving the benefits you had signed up for.

    5.Q. Do the terms of the policy vary for smokers and non-smokers?

    A.Yes, non-smokers will receive preferential rates of premium as they lead a healthier lifestyle.

    Other Products from TATA AIG

    GST of 18% is applicable on life insurance effective from the 1st of July, 2017

    This Insurance Company has not partnered with BankBazaar.com. For more details, please visit its website/branch office. The trademarks, logos and other subject matters of intellectual property belong to their respective owners.

    TATA AIA Term Insurance Reviews

  • Page 1 of 1
    • Tata AIA Life Insurance
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have been holding my life insurance with Tata Aia general insurance , there service is good,i took this term insurance recently and i have been doing my payment premium through credit card and they charge me nominal premium amount per year.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 01, 2018
    • Tata AIA Life Insurance
      "Clain Ratio is good. "
      0.5 5.0/5 "Blown Away!"
      I took this term insurance in the year of December 2016. I used the premium amount of Rs. 35000 i used to pay the premium yearly by using the credit card through online banking. They are offering a sum assured amount of 1.1 crore. I have to pay this term insurance for 10 years. I have spoke their customer care service and they were helpful to me.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 19, 2018
    • Tata AIA Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I hold a term insurance with TATA AIA from last 3 years and it is one of the good policy to use. I am happy with the coverage and returns of this insurance policy. I pay a premium of Rs 30000 on yearly basis and the payment options are convenient for me.
      Was this review helpful? 0
      , lucknow
      Reviewed on May 23, 2018
    • Tata AIA Life Insurance
      "Quick follow up"
      0.5 3.0/5 "Satisfactory"
      I applied for the term insurance through bank bazaar just to experience and they were not disappointed. Though my application process was struck in between I immediately got a call from the customer care executive for the follow up snd assist. Though I did not have plans to buy the insurance I had to . But the customer care executive was kind enough to explain in detail and bare with me. Thank you.
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 04, 2018
    • Tata AIA Life Insurance
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have taken a term plan from TATA AIA life insurance. There are other insurance providers where for term plans they would not get the benefits after the matured term. But this plan I would get back my money after the tenure of 30 years. The premium is to be paid only for five years.
      Was this review helpful? 0
      , lucknow
      Reviewed on Nov 09, 2017
    • Tata AIA Life Insurance
      "Average "
      0.5 2.5/5 "Just OK"
      I have term life insurance policy with the Tata AIA life insurance company and the coverage value is around one crore Rupees . Also the premium is around 12500 Rupees and the coverage period is around thirty period of years of time. Till now, I was happy with their claim experience.
      Was this review helpful? 0
      , new delhi
      Reviewed on Apr 12, 2017
    • Tata AIA Life Insurance
      "Comfortable but LIC is better"
      0.5 4.0/5 "Great!"
      "Long back before 6 to 7 years back I had taken a term plan from TATA AIG. I took this plan when I was employed with TATA AIG. Yearly I had to pay about 12000 as premium online. I did not face any issues nor any challenges as such while making the payment and I have a practice of making the payment online."
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 03, 2016
    • Tata AIA Life Insurance
      "Much average"
      0.5 3.0/5 "Satisfactory"
      TATA AIG life insurance is very much average,. I have taken this policy with the help of my friends. I am making the payment through cheque. This policy was taken for a period of 8 years also I am planning to close this policy, as the returns are not that great and it is basically a term insurance.,
      Was this review helpful? 0
      , gurgaon
      Reviewed on Aug 30, 2016
    • Tata AIA Life Insurance
      "Satisfactory services"
      0.5 4.0/5 "Great!"
      I do have a life insurance policy with Tata AIA. The services are good from them. I have taken a long term insurance. As the short term does not give much of returns. The tenure is for 35 years. The payments are very convenient to make online.
      Was this review helpful? 0
      , imphal
      Reviewed on Jul 20, 2016
    • Tata AIA Life Insurance
      "Check the policy documents before going..."
      0.5 3.0/5 "Satisfactory"
      Good but the Tata AIA has migrated but as being a customer I have not felt any changes. For my life insurance plan they give good deals. It is a kind of term insurance and I get bonus only after completion of 6th year. Overall I am happy with this insurance company.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 26, 2016
    • Tata AIA Life Insurance
      "Satisfied...."
      0.5 4.0/5 "Great!"
      I got term plan from Tata AIA Life insurance and mine is one of the best plans. Pure term plan it is and if the policy holder get expired the family members would get the coverage percentage. And the value of coverage is 50 lakhs and the tenure is for ten years. Every year I am renewing it.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Jan 19, 2016
    • Tata AIA Life Insurance
      "Recommended plan"
      0.5 5.0/5 "Blown Away!"
      I have taken a term plan with Tata AIA and its for 20years.I do pay a premium around 60000Rs for this Insurance.My friend have recommended about getting a Insurance with Tata AIA.The service provided was good and they have given all payment option to the customer.The coverage amount provided was 50Lakh for this Insurance.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 19, 2015
    • Tata AIA Life Insurance
      "Good.."
      0.5 3.0/5 "Satisfactory"
      I have term plan and service of Tata AIA Life insurance is average. I normally donâ??t believe in life insurance. I have to pay 17k every year and incase of any death the nominee would get 65lakhs. Incase of any permanent disabilities, I get some returns. Tenure period is of 40 years.
      Was this review helpful? 0
      , rajkot
      Reviewed on Aug 14, 2015
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