- About Coverfox
TATA AIA life insurance is a collaboration between TATA Sons and AIA Group. TATA Sons have a stock hold of 51% while the AIA group owns the balance holdings of 49%. The Company boasts of a perfect combination of experience and efficiency. TATA's pre-eminent leadership position in India and AIA's presence as the largest, independent listed pan-Asian life insurance group in the world spans across 18 markets in the Asia Pacific region, making it one of the leading insurance companies in India.
One of the most attractive and affordable term plan offered by TATA AIA
The TATA AIA iRaksha Supreme Insurance plan is a pure term insurance plan. This is a non-linked, non-participating, online term insurance plan. This plan stands by its name by helping you take care of your family's financial needs. This affordable term plan offered by TATA AIA will definitely ensure you peace of mind.
The features of the TATA AIA iRaksha Supreme Term insurance plan are mentioned below:
The benefits of the TATA AIA iRaksha Supreme Term insurance plan is mentioned below:
Death Benefit : In case of death of the insured during the policy period, TATA AIA iRaksha Supreme Term insurance plan will pay your nominee death benefit which is higher of:
Flexibility: Offers you flexibility to select your policy term between 10 to 40 years.
Maturity benefit: This plan doesn't offer any maturity benefit.
Tax benefits: Section 80C and 10(10D) under the Income Tax Act provides tax benefits for premiums paid regularly.
Discounts: Offers special discounts for non-smokers and women policy holders.
Premium payment: Offers convenience and flexibility to pay the premiums for this plan either regular, single or limited pay.
The eligibility criteria for buying the TATA AIA iRaksha Supreme Term Insurance plan is mentioned below:
|Entry Age||Min. 18 years and Max. 70 years|
|Policy Term Age||Min. 10 years and Max. 40 years|
|Maturity Age||Min. 28 years and Max. 80 years|
|Premium Payment Mode||Regular, Limited pay & Single pay|
|Premium Payment Frequency||Annual/ Semi Annual|
|Min Basic Sum Assured||Rs.50 lakh and maximum no limit|
Some of the important details with regards to TATA AIA iRaksha Plan are mentioned below:
Surrender value : You may surrender your TATA AIA iRaksha Term Insurance Plan anytime and get the below surrender benefits:
Grace period : Grace period is nothing but the time offered to you to make the premium payments post the due date.
Tax benefits : The below tax benefits are offered under the TATA AIA iRaksha Term plan:
Free look cancellation: This plan offers you the liberty to cancel the plan within 30 days of the receipt of the policy documents, in case you aren't happy with the coverages offered and wish to cancel the same. This can be done only if no claim has been made.
A term plan doesn't cover anything and everything. The exclusion list under the TATA AIA iRaksha Supreme Plan are mentioned below:
The claims would not be admitted under the below exclusions:
Suicide : In case the insured suffers a death due to suicide in the first policy year and whether the insured was medically sane or insane, then TATA AIA iRaksha Supreme Term Insurance Plan would not pay any death benefit. However, if the Life Assured commits suicide within the first year of the date of reinstatement of policy, then TATA AIA iRaksha Supreme Term Insurance Plan would not pay any death benefit except the surrender value, if any, will be paid.
TATA AIA iRaksha Term Insurance Plan takes care of your overheads associated with liabilities and offers a peace of mind by making arrangements for a financially secured life for your loved ones. It is the most recommended online term insurance plan that offers a maximum coverage at a very reasonable rate. The various discounts on premiums offered make this plan the most desired plans. This plan helps you to maintain your family's standard of living post your demise.