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

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.

Do all policies have the same modes of payment?

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

What options does the company provide to make premium payments?

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

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

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.

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

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

Credit Cards

Home Loans

Personal Loans

Other Loans

Calculators

Investments

Credit Score

Govt. Utility Documents

Download Mobile App

Insurance

Resources

BankBazaar

Tata AIA Term Insurance

Term plans from Tata AIA are the ideal solutions for those who 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.

Check Your Credit Score Now

Term Insurance plans offered by TATA AIA:

Sampoorna Raksha Supreme
Saral Jeevan Bima
InstaProtect Solution

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.

Parameter	Description
Entry age	Minimum: 18 years
Policy term	Whole life
Sum assured	Rs. 1 crore
Premium payment	Minimum annual premium(Male): Rs.12,600 Maximum annual premium(Female):Rs.10,700
Premium payment frequency	Single, annual, half-yearly, quarterly, and monthly payment options.

Check Your Credit Score Now

Saral Jeevan Bima

Tata AIA Life Insurance Saral Jeevan Bima is an affordable term insurance plan that is tailored to ensure that the family is financially protected in case of the unfortunate death of the policyholder. It is a non-participating, non-linked, pure risk individual life insurance plan.

Parameter	Description
Entry age	Minimum: 18 years Maximum: 65 years
Age at maturity	Maximum: 65 years
Policy term	Minimum: 5 years Maximum: 40 years
Basic Sum assured	Minimum: Rs.5 lakh Maximum: Rs.49.50 lakh
Premium payment frequency	Single, annual, half-yearly, quarterly, and monthly payment options.

InstaProtect Solution

Tata AIA Life Insurance InstaProtect Solution is a comprehensive plan that combines the benefit of a life cover along with hospitalisation, critical illness, accidental death, permanent disability and more.

Parameter	Description
Entry age	Minimum: 18 years Maximum: 45 years
Age at maturity	Minimum: 23 years Maximum: 65 years
Policy term	Minimum: 5 years Maximum: 50 years
Package Sum assured	25 lakh, 50 lakh, 70 lakh
Premium payment frequency	Single, annual, half-yearly, quarterly, and monthly payment options.

Check Your Credit Score Now

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.

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

Check Your Credit Score Now

FAQs on Tata AIA Term Plan

Are there any savings options better than a Tata AIA life insurance plan?
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.
Do all policies have the same modes of payment?
Most policies allow customers to make premium payments either on a monthly, quarterly, semi-annual or annual basis.
What options does the company provide to make premium payments?
Customers of Tata AIA can make premium payments through the internet, ECS, cash, or cheque.
What are the consequences if I fail to make premium payments on time?
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.
Do the terms of the policy vary for smokers and non-smokers?
Yes, non-smokers will receive preferential rates of premium as they lead a healthier lifestyle.

Disclaimer

Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

Explore More:

Credit Card:

Credit Score:

Personal Loan:

Home Loan:

Fixed Deposit:

Calculator:

Learn More:

Others:

Mobile Apps:

support[at]bankbazaar[dot]com