Tata AIA Sampoorna Raksha Term Plan

• Premium rates are lower for non-smokers female policyholders.

• You can enhance your policy coverage with optional riders.

• The large sum assured is eligible for discount.

• The policy gives you an option to pay the premium on a regular basis or for a limited term.

• The plan has a free-look period of 15 days. You can cancel the policy within these 15 days from the policy purchase date if you are not satisfied with the terms of the policy. You can cancel the policy by providing written notice to the company by stating the reason and receive a refund of premium. You have to bear stamp duty and medical examination costs.

• The plan provides you a grace period of 15 days for monthly premium mode and 30 days in case of other premium modes.

• If you fail to pay the premium on time, the policy will lapse. To restore the lapsed policy, you need to make the payment of outstanding premium payment within two years from the date of first unpaid premium and submit the necessary documents.

One should meet below-listed criteria in order to purchase the Tata AIA Sampoorna Raksha plan

Tax benefits: The premiums paid under this plan are eligible to get tax benefits under Section 80C, and the benefits received at the end of the term is subject to tax deductibles under Section 10(10D) of the Income Tax Act 1961. Large sum assured discount: Large sum assured discount is available for regular and limited pay and it shall be expressed as a percentage of premium

The documents needed to process Tata AIA Sampoorna Raksha plan are,

Age proof: The age proof can be any of these – Driving license, School/college certificate, Passport, PAN card, Birth Certificate.

Identity proof: Voter ID, driving license, PAN card or Aadhar card can be used an identity proof.

Address proof: Electricity bill, Bank account statement can be presented as the proof of address.

Income proof: Income tax return or employer certificate can be presented as an income proof at the time of purchasing the policy.

Term life insurance is one of the most useful and affordable life insurance products available today. With low cost and high coverage, it makes sense to buy a suitable term plan for your family. With a number of advantages and no drawbacks, you can ensure financial security for your dependents with a term plan. If something unfortunate happened to you, your family won't be left in a financially challenging position. Tata AIA Sampoorna Raksha Plan gives you the flexibility to choose from four different death benefit options. You may choose to receive either a lump sum benefit on death or a lump sum benefit on death with monthly income for the next ten years. The plan gives you an option to enhance your life cover by adding riders to it. It is important to take adequate term insurance to protect your family and avoid any monthly income gimmick in your absence. Tata AIA Sampoorna Raksha Plan gives you an option of receiving enhanced death benefit with monthly income for ten years. Enhanced sum assured is the basic sum assured increased by 5% simple rate of interest every year till the policy term. It is subject to a maximum of 200% of the basic sum assured at the time of policy commencement. Along with the enhance sum assured as a lump sum benefit, the nominee receives monthly income for ten years from the next month of the death of the life insured. Apart from multiple death benefit options, the policy has some key features which make Tata AIA Sampoorna Raksha plan more attractive.

• Premium rates are lower for non-smokers and female policyholders.

• The policy gives an option for premium paying term of regular pay or limited pay.

• The premiums paid and death benefit received is eligible for tax benefits under Section 80C and 10(10D) of The Income Tax 1961.

• The plan has a free-look period of 15 days.

• The plan offers you a grace period of 15 days for monthly premium payment and 30 days for other frequency of payment.