VMPL
Mumbai (Maharashtra) [India], November 18: Tata AIA has observed a steady increase in demand for term insurance plans. This shows that more individuals are actively working to secure their family’s financial future. Term insurance is a vital financial tool for planning. It provides protection for your loved ones over a set period of time. People are choosing this option for long-term financial stability.
Key Drivers of Tata AIA term insurance plans
Tata AIA’s term insurance plans combine affordability, flexibility, and high claim reliability, making them a standout choice for long-term financial protection. Key highlights include:
* High claim settlement ratio, reflecting strong trust and efficiency in payouts.
* Policyholders can opt for significant coverage at reasonable premiums, with additional benefits like *return of premium and 4-hour claim settlement under select plans.
* Popular offerings such as Sampoorna Raksha Promise and Maha Raksha Supreme Select* provide customisable protection, including options for increasing cover*, whole life coverage up to age 100, and critical illness riders.
* Policyholders can scale their sum assured as their responsibilities increase because the plans are made to adjust to significant life events like marriage, childbirth, or home loans. Additionally, Tata AIA provides premium discounts for women and non-smokers.
These features make Tata AIA term plans a compelling choice for individuals seeking reliable, scalable, and tax-efficient life cover. You can choose from various plan types based on your specific requirements.
Why you should consider Tata AIA term insurance
Purchasing a term insurance plan secures your family’s future in your absence. If you pass away unexpectedly, the plan gives your family a substantial lump sum amount. This helps them meet their daily life expenses and other financial obligations.
Term plans are usually cost-effective choices. You can get a high amount of coverage for a lower monthly payment. A few insurance plans offer the possibility of increasing the insured amount at the time of certain significant life events, such as marriage and childbirth, thus keeping the coverage in accordance with the new obligations.
Premiums paid for term insurance may allow for tax deductions. This is based on Section 80C of the rules. The funds your family receives are also generally tax-exempt. This exemption falls under Section 10(10D).
The insurance payout can be used to clear any existing loans you may have. This prevents your debt from becoming a financial worry for your family.
Many term plans let you add a feature, called a rider, for an added fee. These riders can provide protection against critical illnesses for comprehensive security.
The entry age for a term insurance plan starts at 18 years. Generally, the premium amount is lower when one buys the policy at a relatively younger age.
These policies offer flexible durations of protection. You can select to be covered for a specific period of time or for as long as 100 years. Many people purchase coverage to last until their major financial obligations are completed.
The insured can opt for a payment plan that is most convenient for them according to their finances, which can include regular payments during the policy term, limited-period payments, or even a one-time payment in full.
Who should buy Tata AIA term insurance plans?
A term insurance plan is ideal for anyone who wants to protect their loved ones from financial difficulties in their absence.
* Individuals with Dependants: If you are the primary earner for your family, this plan creates a financial safety net for them.
* People with Loans: If you have loans for a house or a vehicle, the policy can ensure your family avoids this debt burden.
* Newly Married Couples: As you start your new family life, a term plan can protect your partner from early financial challenges.
* Women and Homemakers: As more women contribute to the family income, a term plan can help them safeguard the future of their family. Homemakers too can avail themselves of coverage to provide ongoing domestic support and stability.
About Tata AIA Life Insurance
Tata AIA Life Insurance Company Limited is a joint venture between Tata Sons Pvt. Ltd. and AIA Group Ltd., combining the trust of the Tata brand with AIA’s global expertise in insurance. The company provides a wide range of life insurance solutions, covering protection, savings, retirement, and health needs of individuals and families. With a strong claim settlement record, innovative digital platforms, and a customer-first approach, Tata AIA ensures convenience, reliability, and financial security. Today, it continues to be a trusted partner for millions of Indians in their long-term financial and protection journey.
Disclaimer:
* Tata AIA Maha Raksha Supreme Select – Non-Linked, Non-Participating, Pure Risk, Individual Life Insurance Product (UIN: 110N171V12)
* 1Illustrated Premium is the monthly premium excluding taxes for 20 yr. old female, Standard Life, Non-Smoker for 2 Cr. Sum Assured with Policy Term of 20 yrs. (Regular Pay) with Life Secure plan option salaried person. Please refer Benefit Illustration for more details. Tata AIA Life shall have the right to claim, deduct, adjust, recover the amount of any applicable tax or imposition, levied by any statutory or administrative body, from the benefits payable under the Policy. Kindly refer the sales illustration for the exact premium.
* 2Tax benefits of up to ₹46,800 u/s 80C is calculated at highest tax slab rate of 31.20% (including cess excluding surcharge) on life insurance premium paid of ₹1,50,000 as per old tax regime. Tax benefits under the policy are subject to conditions laid under Section 80C, 80D,10(10D), 115BAC and other applicable provisions of the Income Tax Act,1961. Good and Service tax and Cess if any will be charged extra as per prevailing rates. The Tax Free income is subject to conditions specified under section 10(10D) and other applicable provisions of the Income Tax Act,1961.
Tax laws are subject to amendments made thereto from time to time. Please consult your tax advisor for details, before acting on above.
* 3Tata AIA Maha Raksha Supreme Select offers Premium discount of 1% of single premium and 8.5% on first year premiums for regular and limited pay to the salaried customers & digital discount of 1% for Single Pay, 10% for Limited Pay/Regular Pay.
* 4Tata AIA Maha Raksha Supreme Select offers Premium discount of 1% of single premium and 8.5% on first year premiums for regular and limited pay to the salaried customers.
* 5With this feature, instant death benefit of INR 3 Lacs from the Sum Assured will be paid within 1 working day from the claim registration date. This feature is applicable only after a waiting period of 3 policy years from the policy inception or revival of the policy and provided the policy is in force. The remaining SA shall be payable post the completion of the claim investigation. Further, in case of any discrepancy in the claim investigation resulting in the final decision of non-payment of the claim, the company reserves the right to recover the already paid amount. The acceleration of instant claim should not be construed/interpreted as acceptance of the claim. | On assessment of documents submitted during claim assessment, additional documents may be sought by the company. | Please refer the sales brochure and policy document for more details
* 6With this feature, policyholder is allowed to defer the due premium for a period of 12 months while maintaining the full risk cover under the base plan and attached riders. At the end of Premium Deferment period, the policyholder is required to pay the due premiums, including the premium applicable for the period of Premium Deferment, i.e., the base cover premium and additional premium (if any). | FlexiPay Benefit shall be available for multiple times with a gap of 5 policy years from the expiry date of previous Premium Deferment. The option can be exercised only after payment of 5 full years premium. | No interest shall be levied on the premium due during the Premium Deferment period. If the premiums due are not paid within the grace period after expiry of the FlexiPay Benefit, the Policy (including Rider(s), if any) shall lapse and no benefits shall be payable in the Policy or the Rider(s), if any) and company shall be entitled to recover the same from any amounts or benefits payable under the Policy or Rider(s). | Please refer the sales brochure and policy document for more details.
* 7The product offers first year discount of 2% for Limited Pay/Regular Pay and 1% for Single Pay under Nominee & family discount to existing TATA AIA customers
* 8If Return of Balance Premium option is chosen with any of the benefit option/s, an amount equal to the Total Premiums Paid (excluding loading for modal premiums) towards the benefit option, less any claim amount already paid out under the respective benefit option, shall be payable at the end of the benefit option term, provided the benefit option is not terminated.
* 9Riders are not mandatory and are available for a nominal extra cost. For more details on benefits, premiums, and exclusions under the Rider, please contact Tata AIA Life’s Insurance Advisor/Intermediary/ branch.
* 10Our Individual Death Claim Settlement Ratio is 99.41% for FY 2023 – 24 as per the latest annual audited figures
* 11Tata AIA Vitality – A Wellness Program that offers you an upfront discount at policy inception. You can also earn premium discount / cover booster (as applicable) for subsequent years on policy anniversary basis your Vitality Status (tracked on Vitality app) Please refer rider brochures for additional details on health and wellness benefits.
* 12On enrolling into the Wellness Program, you get an upfront discount of 5% on 1st year premium for Accidental Death, Accidental Total & Permanent Disability, Accidental Disability Care Benefits and of 10% on 1st year premium for Term Booster, CritiCare Plus, Accelerated CritiCare, Multistage CritiCare, Cancer Care, Cardiac Care. The rewards are offered on cumulative basis and in any year, the maximum rewards in view of both the Up-front Rewards and Annual Rewards Flex together shall be 15% for Accidental Death, Accidental Total & Permanent Disability, Accidental Disability Care and 30% for all other rider benefit options. Discount is driven by accumulated points which is achieved through wellness status. Please refer policy document for more details.
* 13Income Tax benefits would be available as per the prevailing income tax laws, subject to fulfillment of conditions stipulated therein. Income Tax laws are subject to change from time to time. Tata AIA Life Insurance Company Ltd. does not assume responsibility on tax implication mentioned anywhere in this document. Please consult your own tax consultant to know the tax benefits available to you.
* Tata AIA Life Insurance Non-Linked Comprehensive Protection Rider (UIN:110B033V04 or any other later version) – A Non-Linked, Non- Participating Individual Health Rider, Tata AIA Vitality Protect (A Non-Linked, Non- Participating Individual Health rider (UIN:110B046V04 any other later version), Tata AIA Vitality Health (A Non-Linked, Non- Participating Individual Health rider (UIN:110B045V03 any other later version) are available under this plan.
* Vitality is a trademark licensed to Tata AIA Life by Amplify Health Assets PTE. Limited, a joint venture between Vitality Group International, INC. and AIA Company Limited. The assessment under the wellness program shall not be considered as a medical advice or a substitute to a consultation/treatment by a professional medical practitioner.
* Insurance cover is available under this product.
* This product is underwritten by Tata AIA Life Insurance Company Limited. This plan is not a guaranteed issuance plan, and it will be subject to Company’s underwriting and acceptance.
* Buying a Life Insurance policy is a long-term commitment. An early termination of the policy usually involves high costs, and the Surrender Value payable may be less than all the Premiums Paid.
* In case of sub-standard lives, extra premiums will be charged as per our underwriting guidelines.
* For more details on risk factors, terms and conditions please read Sales Brochure carefully before concluding a sale.
* All Premiums, Charges, and interest payable under the policy are exclusive of applicable taxes, duties, surcharge, cesses, or levies which will be entirely borne/ paid by the Policyholder, in addition to the payment of such Premium, charges or interest. Tata AIA Life shall have the right to claim, deduct, adjust, and recover the amount of any applicable tax or imposition, levied by any statutory or administrative body, from the benefits payable under the Policy.
* L&C/Advt/2025/June/Aug/3110
* No Goods and Service Tax shall be applicable on Individual life insurance products as per prevailing laws. Tax laws are subject to amendments from time to time. If any imposition (tax or otherwise) is levied by any statutory or administrative body under the Policy, Tata AIA Life Insurance Company Limited reserves the right to claim the same from the Policyholder.
(ADVERTORIAL DISCLAIMER: The above press release has been provided by VMPL. ANI will not be responsible in any way for the content of the same.)
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