Tata Aia Term Insurance Review
When it comes to a Tata Aia term insurance review, there are a few different products available. Let’s look at Sampoorna Raksha Supreme, Saral Jeevan Bima, and iRaksha Plus. These are non-linked, profit endowment plans that provide death and maturity sum benefits.
Sampoorna Raksha Supreme
The TATA AIA Sampoorna Raksha Plan offers a lump sum payout in the event of death. There is also the option of receiving a monthly income for the remaining years of the plan’s term. However, before choosing this plan, you should be aware of the costs and terms and conditions.
The Sampoorna Raksha is one of the most comprehensive term insurance plans offered by Tata AIA. The premiums are slightly higher than those for comparable products, but this plan offers several benefits that make it a good choice for some people. The plan offers a no-fee initial application process, which benefits those who do not have the cash to make a lump sum payment. This plan also allows beneficiaries to choose the frequency of premium payments and offers fast claims settlement.
The TATA AIA Sampoorna Raksha’s benefits are extensive and flexible. It includes an Accidental Death Benefit Rider that pays out a lump sum to your family in the event of your death due to an accident. In addition, the TATA AIA Sampoorna Raksha Supreme has a comprehensive critical illness rider that pays out a lump sum if you or a loved one suffers a terminal illness. In addition, it provides coverage for up to 100 years. Another essential feature is the ability to choose a life stage of coverage.
Sampoorna Raksha Plus
The Sampoorna Raksha Plan from Tata AIA Life Insurance is a term plan that offers two death benefit options. It allows you to choose either a lump sum benefit if you die before the policy’s maturity date or a monthly income within the first ten years.
The Sampoorna Raksha Plan from Tata AIA Life Insurance is an affordable term plan with extensive coverage and flexible payout options. The plan pays out a lump sum on death to a named beneficiary or a monthly income for up to 10 years. The plan also allows you to choose the frequency of premium payments and several other features.
This plan offers comprehensive coverage against both major and minor illnesses. It also has a multi-claim feature. This feature is helpful for individuals who have a lot of medical costs. For these reasons, the Sampoorna Raksha Plus policy is a good choice for people who want to protect their income and lifestyle against life’s uncertainties. However, it is essential to understand that this plan is only available to certain people and requires specific qualifications.
Saral Jeevan Bima
The Saral Jeevan Bima Plan by Tata AIA Life is an affordable term insurance plan that offers life cover for a specified premium amount. The plan has simple terms and features that make it easy to understand and purchase. It also offers coverage for up to 40 years.
This plan is similar to many term life insurance policies. However, it does have a few differences compared to a standard plan. The policy’s premium amounts will vary, but the basic features are the same. The plan is designed for individuals 18 to 65 years old.
This policy allows you to enhance your life coverage by purchasing additional coverage. In addition, you can choose to receive a monthly income for up to ten years. The enhanced sum assured will increase at a 5% simple interest rate each year. The maximum benefit is 200% of your basic sum assured at the start of your policy.
The iRaksha Plus term insurance plan by Tata AIA promises to protect your family from financial catastrophes throughout the policy term and return your premiums at the end of the policy term. It also offers low premium rates for women and non-smokers. Moreover, it provides tax benefits under Section 80C.
Another term insurance plan from Tata AIA is the MahaRaksha Supreme. This plan offers flexibility in premium payouts and a payout accelerator benefit which provides up to 50% of the basic sum assured in the event of a terminal illness. It also offers whole-life coverage and is flexible enough to cover different life stages, including retirement.
The iRaksha TROP plan from Tata AIA is an online term plan with a return on premium (ROP) feature. This term insurance plan also offers death benefit coverage and a grace period of 30 days. In addition, the iRaksha TROP plan by Tata AIA offers a death benefit up to 85 years of age and full life coverage up to 100 years old.