TATA AIA Life Term Insurance Plan

By | May 10, 2024

TATA AIA term plans give longer life cover of up to 85 years of age or for whole life coverage which is till the age of 100 years.

You have the flexibility to choose four death benefit options

  • Option 1 – “Sum Assured on Death” as Lump Sum benefit on Death
  • Option 2 – “Sum Assured on Death” as Lump Sum benefit on Death & Monthly Income for the next 10 years
  • Option 3 – “Enhanced Sum Assured on Death” as Lump Sum benefit on Death
  • Option 4 – “Enhanced Sum Assured on Death” as Lump Sum benefit on Death & Monthly Income for the next 10 years.

TATA AIA offers higher protection discount of up to 25% for a sum assured of over Rs. 75 Lacs.

The drawback is the loadings of up to 6% on premiums paid on monthly basis.

Download Yojana Book

TATA AIA Term Life Insurance Individual Death Claims Paid Ratio – 94%

TATA AIA Life Insurance Policy Terms

Minimum age
at entry
18 years
Maximum age
at entry
Up to 70 years
Max. Maturity age 85 years
Whole Life cover 100 years
Min. Sum Assured Rs. 50 Lacs
Max. Sum Assured No limit
Subject to underwriting policy
Policy term Min. 10 years
Max. 85 years OR 100 less age at entry years
Premium payment term Annual, semi-annual,
quarterly or monthly

Riders

  • TATA AIA accidental death and dismemberment rider
  • TATA AIA waiver of premium plus rider

TATA AIA Life Best Term Insurance Plans

  • TATA AIA Life Sampoorna Raksha Plan
  • TATA AIA Life Sampoorna Raksha+ Plan
  • TATA AIA Life iRaksha TROP Plan
  • TATA AIA Life Maha Raksha Supreme Plan

What I Liked

  • Whole life covers up to 100 years
  • Higher protection premium discount on Rs. 75 Lacs+ sum assured

What I Didn’t Like

  • Loading on monthly premium payments
Tata AIA Life Insurance Company Limited offers a variety of life insurance plans, including:
  • Term plans: Can provide a large life cover at a lower premium
  • Savings plans: Can offer guaranteed returns on maturity
  • Retirement plans: Can offer guaranteed returns on maturity
  • Protection plans
  • Wealth plans
  • Child plans
  • Group plans
  • Micro-insurance plans 
Tata AIA also offers health insurance plans, which provide financial aid for health-related expenses, such as hospitalization and treatment costs for injuries, minor infections, and critical illnesses. Tata AIA’s health insurance plans include:
  • Child Care Cover
  • Hospital Cover
  • Disability Cover
  • Death Cover
  • Whole Life Cover
  • Family Coverage
  • Indexation Benefit 
Tata AIA also offers accident and health insurance, savings plans, employee benefits, credit life, and pension services to corporate clients.

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