Tata AIA Term Plan

Tata AIA Life Insurance Company has been started as a joint venture with Tata Sons Limited. In this, Tata Sons Limited holds 74% stake and AI Group Limited holds 26%.

Tata AIA offers a host of insurance products to its customers to meet their insurance needs. The term insurance plan offered by Tata AIA provides financial support to the family members of the life assured in case of death of the life assured. If the life assured dies during the policy term, the sum assured is provided as death benefit to the nominee by the life assured. Through this death benefit, the family members of the life assured can meet all their financial liabilities.

Tata AIA term insurance plan offers maximum coverage to the customers at the lowest premium. In this you also get the option to choose the death benefit. Along with this, you are given the option of life stage coverage. You can get life insurance coverage for up to 100 years of age through Tata AIA term plans.

Features Of Tata AIA Term Plan

Tata AIA Term Plan Features are as follows-

• The minimum age for taking Tata AIA term insurance plan should be 18 years and maximum age should be 70 years.
• One must be employed or self-employed to avail this term insurance plan.
• You can get a term insurance coverage for a maximum period of 40 years. The minimum sum assured you get in Tata AIA term plan is ₹ 5,00,000. While no limit has been set for the maximum sum insured.
• You also get a free-look period of 30 days. If you are not satisfied with the policy, you can exit the policy within 30 days.
• In this you are also provided with a grace period of 30 days.
• In this, you can also take advantage of tax ben.

Benefits Of Tata AIA Term Plan

Following are the benefits of Tata AIA Term Plan :

1.Death Benefit:

In Tata AIA term plan, in case of accidental death of the life assured during the policy term, the sum assured is provided as death benefit to the nominee by the life assured. You can get a minimum sum assured of ₹5,00,000 through Tata AIA term plan. There is no limit on the maximum sum insured. Now you can also get insurance amount in crores. Through this death benefit, the family members of the insured can meet their financial needs.

2. Maturity Benefit:

In a term insurance plan, if the life assured survives till the end of the policy term, then no benefit is provided to him. But now such term plans are also offered by the insurance company in which the premium paid is returned to you at the end of the policy term. However, you have to pay a little extra premium to avail this facility.

3. Riders:

If you want more coverage in your Tata AIA term plan, then you can increase your term plan coverage by adding riders to it. You can enhance your term coverage through this by adding riders like Accidental Benefit Rider, Waiver of Premium Rider, Critical Illness Rider. You have to pay an additional premium for adding a ride to a Tata AIA term plan.

4. Tax Benefit:

You can also avail tax benefits in Tata AIA term plan. In this, you can get a tax exemption of up to Rs 1.5 lakh on the premium paid under Section 80C of the Income Tax Act 1961. While the death benefit received is eligible for tax exemption under section 10 (10D) of the Indian Income Tax Act 1961.

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Tata AIA Term Plan

Different types of term insurance plans are offered by Tata AIA as per the requirement of the people. Now we will discuss below about the term plans that are offered by Tata AIA.

Let us get to know about Tata AIA Term Plan in detail.

1. Tata AIA Sampoorna Raksha Supreme

Tata AIA Life Insurance Sampoorna Raksha Supreme Plan insurance plan provides financial protection to your family and gives you the flexibility to choose a plan as per your requirement.

• In this, you get the minimum sum assured of ₹ 50 lakh while the maximum sum assured is ₹ 5 crore.
• To get this plan, the minimum age should be 18 years and the maximum age should be 60 years.
• In this you are provided with the option of refund of premiums paid.
• You can enhance your term insurance coverage at various live stages as per your requirement.
• In this, you are provided term coverage till the age of 100 years.
• In this plan, you can choose to pay your premium monthly, quarterly, half-yearly or annually.
• It also provides you tax benefits.
• In this, you get the option to add different types of riders like- critical and terminal illness rider, accidental death benefit rider.
• Women are offered the lowest premium.

2. Tata AIA Maha Raksha Supreme

• In this, the minimum sum assured to you is ₹ 50 lakh while no limit has been set for the maximum sum insured.
• In this you get term coverage till the age of 100 years.
• In this, you get the Live Stage Plus option, through which you can enhance your term plan coverage at different stages of life.
• In this you are provided with tax benefit.
• Comes with in-built payout accelerator benefit.
• There is an option to add riders to enhance the term coverage.
• Special premium rates are offered for women.
• In this, you are provided with a free-look period of 15 to 30 days.
• The minimum age to take this term insurance plan should be 18 years.

3. Tata AIA InstaProtect Solution

• In this you get the option of return of premium.
• To get this term insurance plan, the minimum age should be 18 years and the maximum age should be 45 years.
• In this you get the following options-
• Criticare Plus Benefit
• Hospicare Benefit
• Accidental Total and Permanent Disability Benefit
• Accidental Death Benefit
• Life Cover
• Option to choose Return of Premiums
• In this, you get the option of 25 lakhs, 50 lakhs, 70 lakhs etc. as the sum insured.
• In this you are also provided with tax benefits.

4. Tata AIA Saral Jeevan Bima

• In this term plan, you get the minimum sum assured of ₹ 5 lakh and the maximum sum assured of ₹ 25 lakh.
• In this you also get the option of adding a rider.
• In this you are provided with tax benefit.
• Lower premium is offered for women.

Tata AIA Term Plan Eligibility

Eligibility for Tata AIA Term Plan is as follows-

• Minimum age should be 18 years.
• The maximum age will depend on the policy type.
• A medical checkup will have to be done.

Documents Required For Tata AIA Term Plan

To buy Tata AIA Term Insurance Plan you need to submit the following mandatory documents –

1. Address Proof (Any one of the following):

• bank details
• Aadhar Card
• Passport
• Voter ID
• driving license
• Electricity / Telephone Bill
• ration card

2. Identity proof (any one of the following):

• pan card
• Aadhar Card
• Passport
• driving license

3. Income Proof (Any one of the following): Salary Slip ( last 3 months )
   

• Income Tax Return / Employer Certificate
• Bank statement ( last 3 months )
• Form 16

Tata AIA Term Plan Premium

You can choose the following premium payment options for Tata AIA Term Insurance Plan.

• annual
• half yearly
• quarterly
• monthly

How To Buy Tata AIA Term Plan?

You can buy Tata AIA term plan through both online and offline channels. We have explained below in detail how to buy Tata AIA term plan through both the modes.

1. Online:

You can buy Tata AIA Term Plan in Hindi through online medium in the following ways-

• For this, the customer has to log-in to the Tata AIA website.
• After that he has to choose the term insurance plan that he wants to buy.
• Then you have to choose the coverage option.
• After this you have to provide the details.
• Your premium will be determined on the basis of this provided details.
• After this the customer will have to pay the premium online through his online payment method.
• After this the policy will be issued to the customers.

2. Offline:

You can get the plans of Tata AIG which are not available online. For this you can buy it through agents, brokers or banks.