What are the different types of term insurance plans offered by Tata AIA Insurance?



Tata AIA is one of the most premier insurance providers in the country with a variety of insurance products.  The Tata AIA term plan is one of the best insurance products plans that provide benefits such as a high claim settlement ratio of 98.02%, whole life cover, accidental death benefit, and 4-hour claim settlement along with 40 critical illnesses benefit. Some of the best term insurance plans offered by Tata AIA Life Insurance are discussed below. 

Tata AIA Life MahaLife Supreme

The Tata AIA Life MahaLife Supreme plan is one of the term insurance plans that provide some attractive benefits to modern customers. The plan offers two options that customers can choose from based on their insurance needs. Under option 1, the maximum age of maturity is 85 years and it offers 35 years of the policy tenure. Out of this, for only 15 years, the premium payment is required. Under this option, the minimum premium is INR 15,000, while the basic assured sum is 10 times the yearly premium amount. The second option of Tata AIA Life MahaLife Supreme plan offers 80 years as the maximum age of maturity with 30 years of the policy tenure, out of which for 12 years the premium needs to be paid. In this option, the minimum premium is INR 20,000, while the basic sum assured is 10 times the yearly premium amount. 

Some of the key features of Tata AIA Life MahaLife Supreme plan are as below:

  • The plan is a limited premium endowment plan which provides guaranteed yearly income

  • The surrender benefit of this plan is available after two years of policy completion and two years of premium payments

  • After the policy gets the surrender value, a loan facility also becomes available

  • The policy comes with accidental death and dismemberment riders, and 15 days grace period.

Tata AIA Life Insurance Sampoorna Raksha Term Plan

The pure protection plan by Tata AIA Life Insurance called the Sampoorna Raksha Term Plan provides affordable premium rates with whole life options going up to 100 years of age. Both monthly payment and lump sum payout options are available in this plan. While no maturity benefit is available with the Tata AIA Sampoorna Raksha Term Plan, the key features of this policy are as below:

  • Coverage till 100 years of age

  • Option of pay-till-60 so that there is no need to pay the premium after your retirement 

  • Monthly, quarterly, half-yearly, and annual premium payment plan

  • Tax benefit on the premium and the death benefit

  • Option of 4 death benefits that you can choose from

The plan also comes with additional riders available on extra payment as mentioned below:

  • Non-linked comprehensive health rider

  • Non-linked comprehensive protection rider

  • Accidental death and dismemberment rider

Benefits of term life insurance

A term insurance plan comes with many attractive benefits such as these:

  • Low premium rate: If you are looking for securing your life through a  life insurance plan while paying the minimal premium rate, there is no other insurance plan that can beat term life insurance. By only paying a slight amount of monthly premium, you can enjoy coverage for a long time and with a very high payout.

  • Fixed premium: No matter how long your policy duration is, your premium payment remains the same. As your income increases and due to inflation the money depreciates, the premiums become even more affordable with the progression of the years.

  • Flexibility: You can buy a term insurance plan for a particular period and choose a sum assured along with the period to stay covered. 

If you want to know more about the Tata AIA term insurance plans or compare the plans, you can visit the IIFL website. The comparison will help you to make a sound decision. 


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