Tata AIA Life Insurance Company

Term insurance plans cover the risk of premature death. They aim to provide your family with comprehensive financial assistance if you are not around. TATA AIA’s term plans are customizable so that you can choose coverage based on your needs. Term plans have low premiums so that you can opt for an optimal sum assured which would provide the desired financial assistance to your family. Here’s a look at the term plan that TATA AIA offers –

Sampoorna Raksha Supreme

Sampoorna Raksha Supreme is a term plan which has various flexible benefits. Let’s assess the salient features of the plan –

• There are four plan options to choose from – Life Option, Life Plus Option, Life Income, Credit Protect

• You can choose to receive the death benefit in a lump sum, in monthly incomes for 120 months, or in a combination of both.

• The Life Stage option allows you to enhance the sum assured on marriage or on childbirth

• The plan allows you the option of availing of a second medical opinion. Moreover, you can avail of medical consultations internationally heart-related problems or for cancer

• You can also avail coverage for your whole life, i.e. up to 100 years of age

• Top-up the sum assured if it is insufficient for your financial needs

• Two optional riders are also available for a wider scope of coverage

Eligibility conditions
 

Entry age	Minimum – 18 years Maximum –   65   years
Maturity age	Up to 100 years
Sum assured	Minimum – Rs.1 lakh Maximum –   no limit
Policy term	10 years to 100-entry age
Premium payment term	Single premium – once Regular     premium – throughout   the policy tenure   Limited   premium – for a limited period

 

 

 

Endowment assurance plans are designed to provide you with dual benefits of insurance coverage and savings. These plans have a maturity benefit, unlike term plans that usually pay a benefit only in the case of death. Many endowment plans also provide bonus additions that help in growing the corpus. Moreover, you can earn guaranteed returns, loyalty additions, etc. which provide an added benefit. TATA AIA offers the following endowment policy for its customers among other plans –

Fortune Guarantee Plus

The plan provides not only life insurance coverage but also assistance in medical emergencies. Moreover, guaranteed incomes are provided by the policy to provide you with a stream of regular income for your financial needs. Some of the salient features of the plan are as follows –

• There are two plan options to choose from – regular income and regular income with critical illness benefits. Under the second option, you get an added critical illness coverage which gives added financial assistance in major illnesses

• You can choose to receive incomes for a period ranging from 20 years to up to 45 years

• After the income period is over you get the premiums refunded

• You can get medical consultations from specialists all around the world if you face medical emergencies

• There are optional riders which help in building up your coverage

• If you pay a single premium, you can opt for joint life coverage

Eligibility conditions
 

Entry age	Minimum – 1 year Maximum – 60   years
Maturity age	18 years to 77 years
Sum assured	Minimum – Rs.50,000 Maximum   – no limit
Policy term	5 years to 17 years
Premium payment term	Single premium – once Regular   premium – throughout the policy   tenure   Limited premium – 5   years to 12 years
Premium amount	Minimum – Rs.5000 Maximum –   depends on the sum assured

 

 

 

Money back plans are like endowment plans. They also help you save and create a corpus for your financial goals. However, under money-back plans, the sum assured is paid at regular intervals during the term of the policy. This creates a source of income that can help you meet your financial goals at different stages of your life. Money-back plans might also provide bonus additions to help you grow the corpus.

ULIPs are market-linked insurance plans which invest your premium in diversified funds. The funds are professionally managed by fund managers and they invest in market-linked securities so as to provide you with attractive returns. ULIPs also allow you the facility of life insurance coverage and the flexibility of switching or partial withdrawals among other features.

Child plans are savings-oriented life insurance plans. They can be issued either as traditional endowment and money-back plans or as ULIPs. Child plans are specially designed plans which help in creating a secured corpus for your child. They ensure that the financial planning for your child’s future is secured even in your absence.