Tata AIA Life Protection Plans ensures you to provide Financial Security to your loved ones in an Uncertain Situations. Interested Users can check the various Tata AIA Protection Plans available and Features of Tata AIA Life Insurance Protection Plans from below Sections.
Tata AIA Life Insurance Protection Plans
As almost all of our Indian Families Depends on a Single Person. If Something happens to a Sole Earner the whole family will be affected. To Protect the Family even in Uncertainties Tata AIA Life Insurance Company has introduced the Protection Plans. Tata AIA Life Protection Plans Provide Safety and Security to your Family even in your Absence.
Tata AIA Life Protection Plans are the Ideal Solution to Provide a Strong Foundation to Protect the Income of our Loved Ones. It is sure that you will get a Peace of Mind and at the Same time, it will provide Financial Support to your Family in case of unfortunate/ sudden death of life Assured. Interested Users can buy the Tata AIA Life Protection Plans at a very attractive and easily affordable Price. The Various Protections Plans available under Tata AIA Life Insurance are IRaksha TROP, IRaksha Supreme, and Maha Raksha Supreme.
Tata AIA Life Protection Plans
Tata AIA Life Insurance Company provides various Protection Plans for its Customers to meet Uncertainties and to make your family feel fully protected. The Various Tata AIA Life Protection Plans are
- IRaksha TROP.
- IRaksha Supreme.
- Maha Raksha Supreme.
Tata AIA Protection Plan Benefits & Features
Tata AIA Life Protection Plans offers you wide Range of Benefits such as Death Benefit & Maturity Benefit to Protect your Family from Uncertainties. Check Benefits of various Protection Plans from below Sections.
About Tata AIA Life IRaksha TROP Plan
Tata AIA Life Insurance IRaksha TROP is an Online Term Insurance with Return of Premium Plan. Tata AIA IRaksha TROP Non-linked Non-Participating Plan is the Ideal Solution to provide Strong Foundation to protect the Income of our Loved Ones.
Features of Tata AIA Life Insurance IRaksha TROP Protection Plan
- It Provides a Unique Combination of Protection and Return of Premium Benefits.
- In this Plan, you have the Facility to choose Premium Payment Option to Suit your Convenience.
- A Special Discount on Rates is available for Customers Opting for Higher level of Protection.
- This Plan avails Benefits at Lower Rates for Female its Customers.
- Tax benefits available under u/s 80C & 10(10D) of the Income-Tax Act, 1961.
Benefits of Tata AIA IRaksha TROP Plan
Death Benefit:
In case of Unfortunate Death of the Insured Company will pay the Death Benefit as higher of Basic Sum Assured or 10 Times the Annualised Premiums Paid or 105% of the Total Premiums Paid to the Nominee.
Maturity Benefit:
On Survival of the Life Assured until the end of the Policy Period Company will pay the Total Premiums Paid as a Maturity Benefit to the Policyholder.
Tata AIA IRaksha TROP Protection Plan Eligibility Criteria
| Entry Age |
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| Maximum Maturity Age | 75 years. |
| Sum Assured |
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| Policy Term |
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| Premium Payment Term |
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| Premium Payment Modes |
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For More Information Regarding Tata AIA Life IRaksha TROP Plan please check the Product Brochure.
Brochure for Tata AIA IRaksha TROP Plan.
Tata AIA Life IRaksha Supreme Plan
Tata AIA Life Insurance IRaksha Supreme Plan is a Non-Linked and Non-Participating Term Insurance Plan. It is Introduced to ensure that the dreams of our loved ones are not compromised and our debts never become a financial burden for them.
Features of Tata AIA Life Insurance IRaksha Supreme Plan
- Tata AIA Life IRaksha Supreme Plan Provides Financial Protection to the Family in the case of Unfortunate Death of the Insured.
- In this Plan, you have the Option to choose Premium Payment Modes.
- It Provides Benefits at Lower Rates for Female Customers.
- A Special Discount on Rates is available for Customers Opting for Higher level of Protection.
- Tax benefits available under u/s 80C & 10(10D) of the Income-Tax Act, 1961.
Tata AIA IRaksha Supreme Policy Benefits
Death Benefit:
In the case of unfortunate demise of the insured during the policy term, the Company will pay the Death Benefit as higher of Basic Sum Assured or 10 Times the Annualised Premiums Paid or 105% of the Total Premiums Paid to the Nominee.
Maturity Benefit: No Maturity Benefit is Payable under this Policy.
Tata AIA Life IRaksha Supreme Plan Boundaries
| Entry Age |
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| Maximum Maturity Age | 80 years. |
| Policy Term |
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| Premium Payment Term |
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| Premium Payment Modes |
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For More Information Regarding Tata AIA Life IRaksha Supreme Plan please check the Product Brochure.
Product Brochure of Tata AIA IRaksha Supreme Plan.
Tata AIA Life Maha Raksha Supreme Plan
Tata AIA Life Insurance Maha Raksha Supreme Plan is a non-linked, non-participating TermInsurance plan. It offers you a wide range of choices to fulfil your family’s specific needs of financial protection.
Key Features of Maha Raksha Supreme Plan
Tata AIA Life Maha Raksha Supreme Plan is aPure Protection Plan Provides Financial Protection to the Family in the case of Unfortunate Death of the Insured.
- In this Plan, you have the Option to choose Premium Payment Modes.It Provides Benefits at Lower Rates for Female Customers.
- It Provides Benefits at Lower Rates for Female Customers.A Special Discount on Rates is available for Customers Opting for Higher level of Protection.
- You can Premiums as Single Pay / Regular Pay to Suit your Convenience.
- In this Plan, you have the Option to enhance Protection Cover through Rider.
- It Provides Discounted Rates for Female Customers.
- Tax benefits available under u/s 80C & 10(10D) of the Income-Tax Act, 1961.
Benefits of Tata AIA Maha Raksha Supreme Protection Plan
Death Benefit:
In the case of unfortunate Death of the insured during the policy term, the Company will pay the Sum Assured on death along with Additional Sum Assured under Life Stage Plus Option, if any as Death Benefit to the Nominee.
Where the Sum Assured on Death for Regular Pay is Defined as
- Basic Sum Assured.
- 10 times the Annualised Premium.
- 105% of the Total Premiums Paid.
Sum Assured on Death for Single Pay is Defined as
- Basic Sum Assured.
- 125% of the Single Premium.
After Payment of Death Benefit, Company will not pay any further Benefits.
Surrender Benefit:
No Surrender Benefit is available under this plan for Regular Premium Payment Term. In case of Single Premium Payment Option, you can surrender your Policy at any Time During the Policy Term.
The Surrender Value for Single Pay Option = 75% x (Policy Term less Policy duration in complete years)/Policy Term x Single Premium.
Maturity Benefit: No Maturity Benefit is Payable under this Plan.
Eligibility Conditions:
| Entry Age |
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| Maximum Maturity Age | 80 years. |
| Basic Sum Assured |
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| Policy Term | 10 to 40 years |
| Premium Payment Option |
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| Premium Payment Modes |
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For More Information Regarding Tata AIA Life Maha Raksha Supreme Plan please check the Product Brochure.
Tata AIA Maha Raksha Supreme Plan Brochure.
Tata AIA Life Protection Plan Rebates
A Special “High Sum Assured Rebate” is available for the Policyholders who have taken the Tata AIA Life Protection Plans. Rebate means getting a discount on tabular premium as per the payment mode of the policy. The Rate of Rebates for each Plan varies with the Premium Payment Options. Please Check the Product Brochures for Rate of Rebates for the given Sum Assured.
Tata AIA Life Protection Plan Premium Calculator
You can calculate the Minimum Premium that has to be Paid to take the Policy By Using the Tata AIA Life protection Plan Premium Calculator. The Amount of Premium Paid will depend on the Sum Assured, Policy Term, Premium Payment Modes and Age of the Life Assured. You need to enter Some Basic Information like Name, Mail Id, Mobile Number, Age, Policy Term, and Minimum Sum Assured to calculate the Premium Value.
Buying Process for Tata AIA Life Protection Plans
You can Buy the Tata AIA Life protection Plan from the Nearest Tata AIA Branch Office or, from the Agent of Tata AIA Life Insurance Company. You can also Download the Proposal Form from the Tata AIA Official website also. The Documents required for buying Tata AIA Life Protection Plans are listed below.
- Application form / Proposal form along with the photo.
- Address Proof.
- Age Proof.
- Medical Reports (if required).
Tata AIA Life Protection Plan Claim Settlement
The Policyholder / Nominee can apply for the Claim in the case of Death or Disability Occurred due to the Sudden Accident of the Policyholder within the Policy Term or if your Policy Maturity Period completed. You can apply your Claim through online at the official website or through alternate channels such as at Branch Office, through Helpline Number, Mail Id. The Documents required in Tata AIA Claim Process are
- Original Policy Bond.
- Death Certificate Original or Attested copy.
- NEFT Form.
- Date of Birth proof.
- Address Proof of Nominee.
- A copy of Pass Book.
- A copy of Hospital Records.
- Additional documents, in the case of death, occurred due to unnatural or accidental death.
Tata AIA Life Insurance Protection Plans Details
Policy Loan: There is No Policy Loan Facility available under this Plan.
Paid-up Value: If the Policy Holder has paid Premiums for at least Three Full years and any Subsequent Premiums be not paid within the Grace Period then your policy will acquire Reduced Paid-Up status and all the Benefits available under this plan will cease after Grace Period has completed.
- Death Benefit for Reduced Paid-up Policy
- Paid-up Sum Assured = Number of Premiums Paid / Total Number of Premiums Payable) x Sum Assured
- Maturity Benefit for Reduced Paid-up Policy
- Paid-up Value = Total Premiums Paid.
Surrender Value:
The Policyholder can Surrender his Tata AIA Life protection Plan at any time during the Policy Term for Sigle Pay Policies and full 3 and 7 years premiums have been paid for 5 and 10 Pay policies respectively in case of Limited Pay policies. The Policyholder will receive Surrender Benefit on Surrendering the Policy.
Free Look (Cooling Off) Period:
If the Policy Holder does not satisfied with the Terms and Conditions of the Policy, Policyholder can return the Tata AIA Life protection Plan within 30 Days from the date of receipt of the Policy Document.
Rebate: A Special Rebate Namely “High Sum Assured” Rebate is available under this Protection Plans.
Grace Period: The Grace Period of one month but not less than 30 days will be allowed for yearly, half-yearly, quarterly modes and 15 days for the Monthly Mode of Premium Payment.
Policy Revival: The Tata AIA Life Protection Plans can be Revived within Two years from the Date of First Unpaid Premium.
Exclusions:
- Suicidal Exclusion:
- If the Life Assured commits suicide at any time within one year / 12 months from the date of commencement of risk, the Corporation will Pay the Total Premiums paid excluding any taxes and Extra Premium paid.
- If the Life Assured commits suicide at any time Within 12 Months from Date of Revival, the Corporation will pay higher of Total Premiums Paid or the acquired surrender value / policy account value as on the date of death to the Nominee.
Taxes: As per the Current Laws, Income Tax Benefits are available under Section 80C and Section 10(10D) of Income Tax Act for this Plan.