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Get Best Term Insurance Plans From TATA AIA
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icon Term Insurance icon Tata Aia
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TATA AIA Term Plan

TATA AIA life insurance is a joint venture company formed by TATA Sons and AIA Group. TATA Sons have a stokehold of 51%, while the AIA group has a stake of 49%. The company boasts of a perfect combination of experience and efficiency. Tata AIA Life Insurance Company Limited was licensed to operate in India on February 12, 2001 and started operations on April 1, 2001.

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.

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Reliance General Insurer
Amount Covered: ₹ 1 Lakh
Deal Price: ₹ 2,094 / Year
Waiting period: 4 yrs
Disclaimer: Above mentioned premium is for a 25 years old Male. Premiums payable on a monthly basis.

75 Lakh Term Insurance Cover 1 Crore Term Insurance Cover 2 Crore Term Insurance Cover 5 Crore Term Insurance Cover
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Features of TATA AIA Term Insurance

  • Pure Protection Cover - the simplest form of life insurance cover
  • Option to enhance protection through rider
  • Discounted rates for female lives
  • Discounted rates for a non-smoking lifestyle
  • Tax benefits u/s 80C & 10(10D) of the Income-Tax Act, 1961.
  • The entry age for TATA AIA Term Insurance plans varies between 18 years and 70 years.
  • The maximum tenure applicable on many term plans is 40 years.
  • The minimum sum assured on TATA AIA term insurance plans is Rs. 50 lakhs, while there is no upper limit.
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Types of TATA AIA Term Plan

Understanding the need of securing your family's financial future in your absence, TATA AIA provides you the below term plans that help you keep your family protected.

01 TATA AIA Life Insurance Sampoorna Raksha Plan

This is a non-linking, non-participating term plans that provides complete financial protection to your family in the event of your unfortunate demise. It is a pure term insurance plan that gives you the flexibility to choose various death benefit options.

Features

  • Minimum entry age 18 years and maximum entry age is 70 years
  • Age of maturity – minimum is 28 years and maximum is 80 years
  • The minimum sum assured is 50 lakhs and maximum has no limit
  • Life cover for policy term up to 40 years to 80 years of age
  • Lower premium rates for non smokers and females
  • Offers you premium paying term of regular pay or limited pay
  • Premium payment mode can be monthly, quarterly, half-yearly and annually
  • Choice of regular or limited (5 or 10 years) premium paying term
  • Premiums paid under this plan are eligible for tax benefits under Section 80C and 10 (10D) of the Income Tax Act, 1961
  • The plan has a free look period of 15 days
  • The policyholder has the flexibility to choose from 4 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 and monthly income for 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 and monthly income for next 10 years
  • The plan offers no maturity or survival benefit
  • Plan conversion is not allowed and no policy loan is available under this plan
  • Surrender Benefit: Surrender Value Factor multiplied by all the premiums paid (excluding underwriting extra premiums and modal loading)
    • For regular pay: No surrender benefit is offered
    • For limited pay: For the limited pay term of 5, if the premium is paid for at least 2 full years and for pay term of 10 years, if the premium is paid in full for 3 years then the policy can be surrender any time till maturity
  • The plan offers you a grace period of 15 days for monthly premium mode and 30 days for other modes. If you fail to revive the policy, then your policy lapses. You can revive the lapsed policy within a period of 2 years by paying the unpaid period and submitting the required documents.

Benefits

  • Flexibility to choose from 4 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 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 next 10 years
  • Life Cover up to 85 years of age; or option for Whole Life coverage (till age 100 years)
  • Choice of Regular or Limited (5/10/ 12 Years or Pay till Age 60) Premium Paying Term
  • Lower premium rates for female lives and non-smokers
  • Enhance your protection with Optional Rider
  • Large Sum Assured discount for Higher Coverage
  • Receive tax benefits u/s 80C and 10(10D), as per the applicable Income Tax laws

Eligibility Criteria for TATA AIA Life Sampoorna Raksha

Parameters Maximum Maximum
Entry Age 18 years Regular Pay - 70 years
Limited Pay 5 - 70 years
Limited Pay 10/12 - 65 years
Pay till age 60 - 50 years
Maturity Age 28 years 85 years last birthday Whole life cover - 100 years last birthday
Death Benefit option • Sum Assured on Death payable on Death
• Sum Assured on Death payable on Death and monthly income thereafter for 10 years
• Enhanced Sum Assured on Death payable on Death
• Enhanced Sum Assured on Death payable on Death & Monthly Income thereafter for 10 years
--
Policy Term (PT) Premium Paying Term (PPT) Policy Term
Minimum
Regular Pay Limited Pay 5 years 10 years
Limited Pay/10 years/12 years Pay till age 60 15 years
For Whole Life option (100-age at entry) years
Premium Payment Term (PPT) years Limited Pay – 5 years/ 10 years/ 12 years/ Pay till age 60 years
Regular Pay (subject to maximum premium payment term of 50 years)
Basic Sum Assured in multiples of Rs. 1,00,000 Rs. 50,00,000 No upper limit, subject to underwriting policy
Premium Based on Minimum Basic Sum Assured Based on Maximum Basic Sum Assured
Premium Payment Mode Annual/Half-yearly/Quarterly/Monthly -

Sample Premium Rates for TATA AIA Life Sampoorna Raksha

Policy Term Sum Assured (Rs.) Gender Smoker/Non-smoker Option 1 (Rs.) Option 1 (Rs.) Option 3 (Rs.) Option 4 (Rs.)
30 years 50,00,000 Male Smoker 6,650 10,000 8,100 11,450
Male Non-smoker 5,000 7,000 5,900 7,900
Female Smoker 5,950 8,750 7,100 9,900
Female Non-smoker 4,550 6,300 5,250 7,000
30 years 1,00,00,000 Male Smoker 10,600 17,000 13,000 19,500
Male Non-smoker 8,000 11,900 9,400 13,400
Female Smoker 9,500 14,900 11,400 16,800
Female Non-smoker 7,300 10,700 8,400 11,900

02 TATA AIA Life Insurance Sampoorna Raksha+

This plan not only secures your family's financial future, but also gives you return of premium until the maturity of the policy.

Features

  • The minimum entry age is 18 years and maximum for regular and limited 5-year pay is 70 years. For regular and limited pay of 10 years is 65 years.
  • Life Cover for Policy Term of up to 30 years or up to Age 80 years
  • Choice of Regular or Limited (5 or 10 Years) Premium Paying Term
  • The plan offers you the return of your premium if you survive till the maturity
  • You can avail sum assured of minimum Rs. 50 lakhs and the maximum amount has no limit
  • Annualized premium is based on minimum or maximum basic sum assured
  • Premium payment mode can be monthly, quarterly, half-yearly and annually
  • The plan offers you the flexibility to choose two death benefit options:
    • “Sum Assured on Death" as Lump Sum benefit on Death
    • "Sum Assured on Death" as Lump Sum benefit on Death and Monthly Income for next 10 year
  • No increase/ decrease in the sum assured is allowed post the inception of the policy
  • With this policy, you can opt for Tata AIA Life Insurance Accidental Death and Dismemberment (Long Scale) (ADDL) Rider
  • Plan conversion is not allowed and no policy loan is available under this plan
  • Surrender benefit: Surrender Value Factor multiplied by all the premiums paid (excluding underwriting extra premiums and modal loading)
    • For regular pay: No surrender benefit is offered
    • For limited pay: For the limited pay term of 5, if the premium is paid for at least 2 full years and for pay term of 10 years, if the premium is paid in full for 3 years then the policy can be surrender any time till maturity
  • The plan offers you a grace period of 15 days for monthly premium mode and 30 days for other modes. If you fail to revive the policy, then your policy lapses. You can revive the lapsed policy within a period of 2 years by paying the unpaid period and submitting the required documents.

Benefits of TATA AIA Life Sampoorna Raksha +

  • Flexibility to choose between two Death Benefit options:
    • "Sum Assured on Death" as Lump Sum benefit on Death
    • "Sum Assured on Death" as Lump Sum benefit on Death and Monthly Income for next 10 years
  • Return of Premium – in case of survival till maturity
  • Life Cover for Policy Term of up to 40 years or up to Age 100 years
  • Choice of Regular or Limited (5/ 10/ 12 Years) Premium Paying Term
  • Lower premium rates for female lives and non-smokers
  • Enhance your protection with Optional Rider
  • Large Sum Assured discount for Higher Coverage
  • Receive tax benefits u/s 80C and 10(10D), as per the applicable Income Tax laws

Eligibility Criteria for TATA AIA Life Sampoorna Raksha +

Parameters Minimum Maximum
Entry Age 18 years Regular Pay - 70 years
Limited Pay 5 - 70 years
Limited Pay 10/12 - 65 years
Maturity Age 28 years 100 years
Death Benefit Option - Sum Assured on Death payable on Death
- Sum Assured on Death payable on Death and monthly income thereafter for 10 years
Policy Term (PT) Premium Paying Term (PPT) Policy Term
Regular Pay
Limited Pay 5 years
10 to 40 years, subject to maximum maturity age 100 years
Limited Pay 10 years/12 years 15 to 40 years, subject to maximum maturity age 100 years
Premium Payment Term (PPT) years Limited Pay – 5 years/ 10 years/ 12 years Regular Pay -
Basic Sum Assured in multiples of Rs. 1,00,000 Rs. 50,00,000 No limit subject to Board approved underwriting
Premium Based on Minimum Basic Sum Assured Based on Maximum Basic Sum Assured
Premium Payment Mode Annual/Half-yearly/Quarterly/Monthly

Sample Premium Rates for TATA AIA Life Sampoorna Raksha +

Indicative Premiums: Annual premiums for a 30 year old individual for plan option –‘Sum Assured on Death’

Policy Term Sum Assured (Rs.) Smoker/Non-smoker Regular Premium (Rs.) Limited (5 pay) Premium (Rs.) Limited (5 pay) Premium (Rs.) Limited (12 pay) Premium (Rs.)
30 years 50,00,000 Smoker (M) 12,800 28,300 17,000 15,750
Non-smoker (M) 9,550 20,250 12,300 11,400
Smoker (F) 11,400 24,200 14,650 13,600
Non-smoker (F) 8,750 17,700 10,800 10,050
30 years 1,00,00,000 Smoker (M) 21,800 48,100 28,900 26,800
Non-smoker (M) 16,200 34,400 20,900 19,400
Smoker (F) 19,400 41,100 24,900 23,100
Non-smoker (F) 14,900 30,100 18,400 17,100

03 TATA AIA Life Insurance iRaksha Supreme

Designed to be a pure term insurance plan, TATA AIA Life Insurance iRaksha Supreme stands by its name by helping you take care of your family’s financial needs. This is one of the most attractive and affordable term plan offered by TATA AIA.

Features

  • Minimum entry age is 18 years and maximum age is 70 years
  • The maturity age is 80 years
  • The minimum sum assured is Rs. 50 lakh and maximum has no limit
  • You can opt for premium payment option-regular pay, single or limited pay (5 to 10 years)
  • You can pay the premium on an annual and semiannual basis
  • Low premium rates are offered for female lives
  • Non-smokers and healthy living individuals can enjoy preferential premium rates
  • This plan ensures complete life protection by providing financial protection against the unfortunate demise of the policyholder.
  • Rate benefits for customers opting for higher level of protection (Sum Assured of Rs. 75 Lacs & above)
  • Tax benefits u/s 80C & 10(10D) of the Income-Tax Act, 1961
  • There is no maturity benefit offered under this plan
  • A free look period of 30 days is provided
  • Death benefit payable will be higher the sum assured, 10 times the annualized premium or 105% of the total premiums paid.
  • Surrender benefit: Surrender Value Factor multiplied by all the premiums paid (excluding underwriting extra premiums and modal loading)
    • For regular pay: No surrender benefit is offered
    • For limited pay: For the limited pay term of 5, if the premium is paid for at least 3 full years and for pay term of 10 years, if the premium is paid in full for 7 years then the policy can be surrender any time till maturity.
  • The plan offers you a grace period of 15 days for monthly premium mode and 30 days for other modes. If you fail to revive the policy, then your policy lapses. You can revive the lapsed policy within a period of 2 years by paying the unpaid period and submitting the required documents.

Benefits of TATA AIA Life iRaksha Supreme Term Insurance Plan

Death Benefit

Life is uncertain and our objective should be that in case of an unfortunate incident, our family stays financially well protected. In case of unfortunate demise of the insured during the policy term, the Death Benefit as stated below will be paid to the nominee/legal heir.

Death Benefit = Higher of:

  • Sum Assured
  • 10 times the Annualised Premium
  • 105% of the Total Premiums Paid

Death benefit payout will be made subject to the policy being in force. Annualised Premium shall be the premium paid in a year with respect to the basic sum assured chosen by the policy holder, excluding the underwriting extra premiums and loading for modal premiums, if any.

Total Premiums Paid means amount equal to the total premiums paid during the premium paying term of the policy. Such amount should be excluding interest, tax, underwriting extra premium and loading for modal premiums, if any.

Maturity Benefit

There is no maturity benefit payable under this policy.

Eligibility Criteria for TATA AIA Life iRaksha Supreme Term Insurance Plan

Parameters Minimum Maximum
Entry Age 18 years 70 years
Maturity Age NA 80 years
Policy Term 10 years 40 years
Sum Assured Rs. 50 lakh No upper limit, depends on the underwriter
Premium Payment Term Limited Pay - 5 years/10 years
Single & Regular Pay
Premium Payment Frequency Semi-annual & Annual

Sample Premium Rates – TATA AIA Life iRaksha Supreme Term Insurance Plan

Indicative Premiums: Sample annual premiums for a healthy 30 year old individual for a sum assured of Rs. 1,00,00,000 is as below.

Gender Smoker/Non-smoker Policy Term (years) Regular Pay (Rs.) Limited 10 Pay (Rs.) Limited (5) Pay (Rs.) Single Pay (Rs.)
Female Non-smoker 25 6,300 10,200 18,900 85,900
Female Smoker 25 9,300 15,900 31,800 1,29,000
Male Non-smoker 25 7,000 11,900 21,900 1,00,300
Male Smoker 25 10,900 18,800 37,000 1,53,700

04 TATA AIA Life Insurance Maha Raksha Supreme

This is a term plan that provides pure protection to your family's financial needs. Offering you an array of choices, the plan lets you fulfill your family’s financial needs in the most convenient and affordable ways.

Features

  • The minimum entry age is 18 years and maximum is 70 years. The maturity age is 80 years.
  • The basic sum assured can be 50 lakhs and maximum has no limits
  • The policy term can be for tenure of 10-40 years
  • You can opt for premium payment option-single and regular pay
  • You can pay the premium on annual, semi-annual, quarterly and monthly basis
  • You can enhance the cover by opting for an additional rider- Tata AIA Life Insurance Accidental Death and Dismemberment (Long Scale) (ADDL)
  • Discounts are offered to non-smokers and females
  • No maturity benefit is available for this plan.
  • No policy of loan is applicable
  • You can also enhance your protection by option for the below options
    • Life stage plus option: With this, you can increase your sum assured in accordance to the future events in your life. These lifestyle events include- your marriage, birth of a child or legal adoption of a child. This does not require you to opt for a fresh medical underwriting. Also, you are required to submit the documents of your marriage, the birth certificate of your child or the adoption papers.
    • Inbuilt payout accelerator provides you with 50% sum assured in case you are diagnosed with terminal illness. This Benefit will commence after 2 years of continuous cover since inception date.
  • Surrender benefit: The Surrender Value for Single Pay Option = 75% x (PolicyTerm less Policy duration in complete years)/Policy Term x Single Premium.Surrender benefit is not available for regular pay
  • The plan offers you a grace period of 15 days for monthly premium mode and 30 days for other modes. If you fail to revive the policy, then your policy lapses. You can revive the lapsed policy within a period of 2 years by paying the unpaid period and submitting the required documents.

Benefits of TATA AIA Life Maha Raksha Supreme Term Insurance Plan

Death Benefit:

Upon death of the insured during the term of the policy, provided the policy is in force, the death benefit payable to the Nominee will be the Sum Assured on death along with Additional Sum Assured under Life Stage Plus Option, if any less Payout Accelerator Benefit already paid, if any: “Sum Assured on death” shall be defined as the highest of the following for regular pay:

  • Basic Sum Assured
  • 10 times the Annualised Premium
  • 105% of the Total Premiums Paid
  • “Sum Assured on death” shall be defined as the highest of the following for Single Pay:
    • Basic Sum Assured
    • 125% of the Single Premium
  • The Policy will terminate upon death of the insured and no other benefit under the policy shall be payable.
  • “Annualised Premium” shall be the premium paid in a year with respect to the basic sum assured chosen by the policy holder, excluding the underwriting extra premiums and loading for modal premiums, if any.
  • “Total Premiums Paid" means amount equal to the total premiums paid during the premium paying term of the policy. Such amount should be excluding interest, tax, underwriting extra premiums and loading for modal premiums, if any.

Eligibility Criteria for TATA AIA Life Maha Raksha Supreme Term Insurance Plan

Parameters Option A
Entry Age Minimum: 18 years
Maximum: 70 years
Maximum Maturity Age 80 years
Policy Term 10 - 40 years
Sum Assured Min – Rs. 50 lakhs
Premium Payment Term Regular Pay/Single Pay

Sample Premium Rates for TATA AIA Life Maha Raksha Supreme Term Insurance Plan

Indicative Premiums: Sample annual premium for healthy, non-smoker, male life

Age (years) Basic Sum Assured (Rs.) Policy Term (years) Regular Pay (Rs.) Single Pay (Rs.)
35 50,00,000 1,39,600 9,300 1,39,600
35 1,00,00,000 30 16,600 2,74,200
40 50,00,000 20 11,500 2,74,200
40 1,00,00,000 20 21,000 2,49,600
Also Read: Tata AIA Life Insurance iRaksha TROP

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Benefits of TATA AIA Term Insurance

Low Cost
Low Cost
One of the greatest benefits of having a term plan is that it provides you a high coverage at substantially low cost.
Fixed Premium
Fixed Premium
Now matter for what term you opt for, the premium for your term plan will always remain the same.
Special Offer
Special Offer
Lower premium rate for non smokers and females
Tax Benefits
Tax Benefits
Section 80C and 10(10D) under the Income Tax Act, provides tax benefits for premiums paid regularly.
Flexible Premium Payment Mode
Flexible Premium Payment Mode
Annually, half-yearly, quarterly and monthly
Term
Term
Life cover for policy term up to 30-80 years of age.
Rebates
Rebates
Discounts are offered if you opt for high protection cover
Return of Premium
Return of Premium
You can opt for return of premium plan by offering to pay high premiums. This benefit pays you all the premium paid, if you survive through the term of the policy.
Buy Insurance Online
Buy Insurance Online
From the comfort of your house at just one click, you can buy the TATA AIA term insurance online.

Claim Process of TATA AIA Term Insurance

TATA AIA provides you a hassle free claim process as you can easily file a claim online without having to go through the boring paperwork process. The online claim process is simple and includes the below three steps:

  • Online claim intimation
  • Submission of claim requirements
  • Claim decision and payment

Documents required for filing a claim

  • Original policy document
  • Rider policy document
  • Original death certificate
  • Claim forms duly filled
  • Copy of the policy panchnama, FIR, post mortem report, etc duly attested by the police authorities.
  • Certificate by the last attending medical practitioner.
  • A copy of photo-identity proof of the claimant and supporting documents evidencing the rights of the claimants.
  • Any additional information and documents required by the Company for assessing the validity of a claim and for processing a claim request For policies that have been in force for a continuous period of 3 years, the death benefit is paid within 8 working days on the receipt of the all required claim documents. The company also pays interest of 6% p.a. in case of any delays.

How Does TATA AIA Compare to Other Plans?

Premiums Against Size of Life Cover
Premiums Against Size of Life Cover
Compare the premiums offered by different insurers against the ideal size of life cover for you.
Features of the Term Plan
Features of the Term Plan
Always check that the features and benefits of the term plan offered are flexible & suit your needs.
Claim Settlement Ratio
Claim Settlement Ratio
Higher the CSR, higher are the chances of your claim getting fulfilled by the insurance company.

Rider Benefits of TATA AIA Term Insurance Plan

Death Benefits
  • In the event of the death of the life assured, the death benefit payable immediately to the nominee will be the ‘Rider Sum Assured’.
  • The rider sum assured will be paid out as opted for by the policyholder at rider inception:
    • Option I: Entire amount paid out as a lump sum.
    • Option II: The entire amount paid out in equal monthly instalments over 10 years.
  • If Option II is chosen, an amount equal to (1/120) times Rider Sum Assured will be paid every month as the monthly income for 10 years, starting from the subsequent monthly death anniversary following the date of death. Any accrued monthly income, due before intimation of death, will be paid with first payout under this option.
  • The rider premium will vary depending on the choice of option.
Death Benefits

Exclusions of TATA AIA Term Insurance

Suicide: If the policyholder commits suicide with 12 months from the date of the commencement of the policy or from the date of the revival of the policy, then the nominee is not liable to receive the sum assured and will only be entitled to receive the total premiums paid, provided the policy is in force.

TATA AIA Term Plan Review

TATA AIA is one of the leading private sector insurers in India. The company offers a wide range of insurance products catering to the diverse needs of various customers including several individuals, businesses and associations. The company offers various life insurance products including wealth solutions, retirement solutions, saving solutions, health solutions and others. As of Dec 31, 2016, the 13th month persistency of the company stands at 81.3%. At the end of FY 16, the retail claims settlement ratio of the company was 96.8%.

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Frequently Asked Questions

  • Q. Can I buy a term insurance product for my spouse or child?
    • You cannot buy a term insurance policy for your spouse or child and can buy it only for yourself. If your spouse is a salaried individual then he/she can buy it for themselves. However, you can always nominate your spouse or child for receiving the death benefit.

  • Q. What if I wish to cancel the policy after issuance?
    • A term plan offers you a free look period of 15-30 days. If you wish to cancel the policy then you can do it and the premium paid will be refunded.

  • Q. Can I change the beneficiary during the tenure of my term plan?
    • Yes, you can change the beneficiary during the tenure of the policy.

  • Q. How do I submit additional requirement asked for?
    • You need send the scan copy of the additional requirement to esales.support@tataaia.com or submit the additional requirement by visiting any of the company's branches or courier the document to the following address
      TATA-AIA Life Insurance Company Limited,
      Websales Department
      B-Wing, 9th Floor,
      I-Think Techno Campus,
      Behind TCS, Pokhran Road No.2,
      Close to Eastern Express Highway, Thane(West)
      Pin Code - 400 607.

  • Q. For buying a TATA AIA term insurance plans what documents can I submit as identity proof?
    • For Identity proof, you can submit the following documents

      • Pan card
      • Passport
      • Voter ID card
      • Driving License
      • Valid Employee ID
      • IRDA card
      • Armed force / Defense ID
      • Bank passbook with photo
      • Ration card with photo
  • Q. Are maturity benefits available for term life insurance plans?
    • No, term insurance does not pay out maturity benefits. However, individuals who wish to get back the premiums paid on term insurance can opt for Term Insurance with Return of Premium (TROP) Plan. Here, if the insured passes away during the policy period, his or her beneficiary will receive the sum assured. However, if the individual outlives the policy term, the premiums paid will be returned to the insured. An important point to be noted is that TROPs will cost 2-3 times more than a regular term plan.

  • Q. How can I check policy status for TATA AIA Term Insurance plans?
    • You can track the current status for your policy application by following these simple steps:

      • Visit the official website of TATA AIA Term Insurance
      • Click on the ‘Track Application’ option
      • Enter personal details like mobile number to generate an OTP that will be sent to your mentioned contact number. Alternatively, you can enter your details like policy number, date of birth, followed by the unique captcha, and then select the ‘Verify Details’ button
      • Your current policy status will be displayed on the screen

  • Q. What is the policy renewal process for TATA AIA Term Insurance plans?
    • You can renew your TATA AIA Term Insurance policy either online via the company website, or offline by visiting any branch or calling their customer service.

  • Q. What is the company's process to settle claim for TATA AIA Term Insurance plans?
    • You can make a claim against your TATA AIA Term Insurance plan through these 3 steps:

      The online claim process is simple and includes the below three steps:

      • Intimate the insurance company
      • Submission of essential documents and thorough verification of the accuracy of your personal information
      • Claim decision and premium payment
  • Q. What is the policy cancellation process for TATA AIA Term Insurance plans?
    • For cancelling a TATA AIA Term Insurance policy before its maturity, you have to visit any branch as per your convenience and submit a dully filled surrender form.

  • Q. Are there any savings options better than a TATA AIA Life Insurance plan?
    • Your investment decisions will be determined by your unique financial objectives.

  • Q. Do all policies have the same modes of payments?
    • No, different Policies offer different payment modes like Annual/SemiAnnual/Quarterly/Monthly. Kindly check the available payment modes in your chosen plan.

  • Q. What are the consequences if I fail to make premium payment on time?
    • On being unable to meet the due date for premium payment for your TATA AIA Term Insurance plan, you will be granted a grace period of 30 days. It is mandatory for you to clear your payments within the grace period, without which your policy will lapse.

  • Q. Do the terms of the policy vary for smokers and non-smokers?
    • No, the policy terms do not vary for smokers and non-smokers. Only premium rates charges are different.

  • Q. What is the policy renewal process for TATA AIA Term Insurance Plans?
    • You can renew your TATA AIA Term Insurance Plan either online or offline.
      Online Renewal can be done by paying outstanding premiums through modes like:

      • Paytm
      • EBPP (Electronic Bill Processing and Payment)
      • ICICI Bank Quick Pay
      • IMPS (Interbank Mobile Payment Service)
      For the Offline Renewal Process, you can visit any branch of the insurance company for assistance and payment of outstanding premiums.

  • Q. What is the policy cancellation process for TATA AIA Term Insurance Plans?
    • TATA AIA Term Insurance offers a Freelook period of 15 days from the date of purchase of the policy. Policyholders can cancel the policy within the Free look period and become eligible for a return of the premium paid till date, minus charges that may be applicable.
      For further assistance, you can get in touch with their customer service on the toll-free number 1800-266-7780 and place a request for cancellation.

  • Q. How to pay premium? What are the modes of payment available?
    • The modes of premium payment are different for different policies. Most policies, however, allow applicants to pay premium in the following modes: monthly, quarterly, half-yearly and annually.
      Premiums can be paid by cheque, cash, ECS or online payment. Under the online payment route, individual can choose from Visa, Master Card, Citibank E-card, Diners Club International Card, American Express Card, Debit Card and Net Banking Account.

  • Q. How can I check policy status for Tata AIA term insurance plans?
    • To check the policy status, registered users need to first log into the website of TATA AIA Life Insurance by entering their username and password. This will direct them to the homepage of the policy account, where they can check policy details and other relevant information. New policyholders would have to first register on the website of the insurance company and proceed with the same steps.

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