Insurance Plans 10536 views November 29, 2019

Tata AIA Term Plan

Tata AIA Life Insurance company is one of the promising and leading life insurance providers in India. The Company is a joint venture of two big players namely Tata Sons (who hold 74 percent of stakes) and AIA Group Limited (holding 26 percent of stakes). Both companies are known for offering top-notch products and customer service. The company is dedicated to offering insurance products that are curated as per the insurance needs of its customers thereby making it top life insurance companies in India amongst other players. All the insurance products offer all-round protection and coverage at affordable rates.

Term Insurance

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What is Tata AIA Term Plan?

The term insurance plans of Tata AIA Life Insurance Company are the best term insurance plan in India. They offer complete financial protection to your family and loved ones in the event of an eventuality. These plans offer complete life cover in the event of the death of the life assured. If you search online the best term insurance plan and policy in India you will see the Tata AIA term plan top the list. The company offers a wide range of online term insurance plans as well as via an offline channel. You need to select the plan as per your financial needs. Being a term insurance plan, the insurance provider shall pay the Sum Assured to the nominee in case of death of the policyholder, however, if the policyholder outlives the entire policy tenure then the policyholder shall not receive any returns.

What are the Features of Tata AIA Term Plan?

  1. Longer Tenure:
    The Tata AIA term insurance plans come with longer tenure. A policyholder can avail of the policy and stay insured for a longer duration. The longer tenure is the biggest advantage as the policyholder can secure the financial needs of his family for a long time.
  2. Flexibility:
    The policyholder has the flexibility to choose the premium payment term depending upon their financial need and convenience. The term insurance plan offers 2 modes of premium payment term namely – Regular or Limited.
  3. Flexible Payout Option:
    One of the best features of the Tata AIA term insurance plan is that it offers policyholder or nominee with the flexibility to choose the payout option. The payout can be opted either in a lump sum or in installments as per their financial requirements and convenience.
  4. Tax Benefit:
    The policyholder can avail tax benefit on the premium paid under section 80C and Section 10(10D) of the Income Tax Act, 1961.
  5. Trustworthy:
    Being an experienced and efficient company, Tata AIA has earned the trust of its customers as it offers the best in class insurance products, top-notch customer service, and high claim settlement ratio.

So, buying a term insurance plan from a reliable and trustworthy insurance provider like Tata AIA Life Insurance Company will guarantee you the financial safety of your family.

What are the Benefits of TATA AIA Term Plan?

Following are the benefits of term insurance plans from Tata AIA:

  1. Low Premium:
    The Tata AIA term insurance plan offers higher sum assured at lower premium rates thereby making it easier for all families to safeguard their financial future.
  2. Fixed Premium Amount:
    Buying a term plan at a young age is very advantageous as the premium amount is low. So irrespective of the policy tenure, your term insurance premium shall remain fixed throughout.
  3. Riders:
    Customization of a term plan is possible by availing rider benefit of the Tata AIA Term Insurance Plan. With the rider benefit, you can increase the safety net offered by the term insurance plan. You can include riders like critical illness rider, waiver of premium rider, etc. and make your term insurance plan more robust.
  4. Accessibility:
    Tata AIA Life Insurance company has a strong online and offline presence. You can buy an online term insurance plan or via offline mode. Additionally, you can request for claim process of Tata AIA term insurance online, wherein the case of death, the nominee can submit all the required documents online and process the term insurance claim.

Types of TATA AIA Term Plan?

The Tata AIA Life Insurance company offers a wide range of life insurance products. Following is the list of unique term insurance plans offered by the company.

  1. Tata AIA Life Insurance Sampoorna Raksha,
  2. Tata AIA Life Insurance Sampoorna Raksha+
  3. Tata AIA Life Insurance iRaksha Supreme
  4. Tata AIA Life Insurance Maha Raksha Supreme
  5. Tata AIA Life Insurance iRaksha TROP

Thus, above is a wide range of term plans, you do not have to search on Google – how to find the best insurance plan in India as you can simply compare insurance plans and their features to choose the best for yourself and your family.

What are the questions to know before applying for term insurance in India?

the market is flooded with various term insurance plans offered by many leading insurance providers. The non-exhaustive availability of term insurance plans in India can make decision making difficult. So, if you are buying a TATA AIA Term Plan here is a list of questions that you must ask before applying for a term insurance policy.

  1. Terms and Conditions related to TATA AIA Term Plan exclusion
  2. Does TATA AIA Term Plan offer an incremental term insurance plan in India?
  3. How Buying Term Insurance Plan Will Make Family Safe?
  4. What are the Pros and Cons of Term Life Insurance Policy?
  5. Details related to key benefits of the Online Term Insurance Policy Plan with Their Claim Settlement Ratio.
  6. What to consider before buying term insurance?
  7. Reasons to – Why buy Term Insurance online?
  8. List of Documents Needed to buy term insurance.
  9. How to choose the perfect Term Life Insurance policy?

Final Words About Tata AIA Term plan

Thus, by keeping in mind the features and benefits offered by the Tata AIA term plan you can rest assured that you have safeguarded the upcoming financial needs of your family in your absence.

Frequently Asked Questions (FAQ’s)

What are the documents required while buying term insurance plans?

For buying a term insurance plan you need to submit KYC documents like Address Proof, Identity Proof, duly filled Proposal Form, Recent coloured photograph and income proof.

Do term insurance plans also offer joint policies for spouses?

Yes, joint policies for spouse’s facility is available under term insurance plans

Do I need to buy term insurance even if I am not married?

Yes, it is recommended to avail a term insurance plan even if you are not married.

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