Tata AIA Life Insurance Sampoorna Raksha

Why Choose Tata AIA Life Insurance Sampoorna Raksha Supreme?

A Non-Linked Non-Participating Individual Life Insurance Plan We all want to ensure that our loved ones have a comfortable life and secured future. We all thrive to provide happiness and security to our family. We want to make sure they are never short in terms of financial resources to live the life of their

dreams, thereby providing a strong 'foundation' of fanancial security for them. Presenting Tata AIA Life Insurance Sampoorna Raksha Supreme Plan, an insurance plan that  provides fanancial protection to your family and offers you the flexibility to choose the plan that suits your need.

• Choose to increase Life Cover at important milestones with Life stage option.
• Ease of payment with Single / Limited / Regular payment options.
• Whole Life Cover till the age of 100*.
• Preferential rate for women

Why choose a Term Life Insurance Plan?

Get Large Cover at Lower Premium : 

When you are young, you have limited responsibilities, and you are just starting your career. As a salaried individual, you should opt for adequate life cover protection for your family in return for affordable premiums that do not burden your earnings.

Early Mover Advantage :

With an increase in age, your premium may also increase. When you buy the term plan at an early age it is more affordable.

Provides Financial Security :

Buying a term life insurance policy is important if you are the sole bread earner in your family. In case of any unfortunate event, term plans help to cover the risk and secure the future of your loved ones.

Avail Tax Benefits :

When you buy our best term insurance policy, you not only protect your loved ones but also enjoy Tax Benefits as per applicable tax laws, helping you save more.

Discover a premium that perfectly aligns with your current income and future goals using our term insurance calculator.

• Illustrated Premium is premium excluding taxes for Standard Life, Non-Smoker, Life Option with Regular Pay. PT 20yrs, PPT 20yrs. Please refer Benefit Illustration for more details.
• All Premiums are subject to applicable taxes, cesses & levies which will be entirely borne/ paid by the Policyholder, in addition to the payment of such Premium. Tata AIA Life shall have the right to claim, deduct, adjust, recover the amount of any applicable tax or imposition, levied by any statutory or administrative body, from the benefits payable under the Policy. Kindly refer the sales illustration for the exact premium.

Key Features :

• Flexibility to choose from below Death Benefit options:

    - Life Option

    - Life Plus Option

    - Life Income

    - Credit Protect

• Option for Whole Life coverage (till age 100 years)
• Option to Increase cover at Important milestones with Life stage option
• Option to increase Sum Assured through top-ups
• Option to get Income payouts at age 55, 60 or 65 onwards for a peaceful life
• Flexibility to receive death benefit payout as a Lump sum or Income (up to 60 months) or both
• Inbuilt payor Accelerator benefit that advances 50% of Basic Sum Assured in event of a Terminal illness diagnosis
• Option to avail medical second opinion/medical consultation/ personal medical case management
• Flexibility to choose Policy Term and Premium Paying Term
• Lower premium rate for Female lives
• Enhance your protection with Optional Riders
• Product can be sourced through Point of Sales PoS)
• Tax benefits, as per the applicable Income Tax laws

Following Benefits/Options are not available for PoS:

• Life Income option
• Life Stage option
• Top Up Sum Assured option
• Payor Accelerator Benefit
• Riders

Plan Benefits:

Option 1 : Life Option

This is a pure risk variant wherein customer chooses the Base sum assured at the time of purchase. In case the life assured dies during the policy term, the stipulated death benefit (based on Effective Sum Assured as applicable on the date of death - defined below) less any payout under Payor Accelerated Benefit will be paid out to the nominee (as per the payout plan chosen) and the policy will terminate. The Effective Sum Assured applicable for computation of Death Benefit would include any additional SA purchased by exercising either the Life Stage or the Top-Up SA option as described above along with Base SA This plan has an inbuilt benet called “Payor Accelerator Benefit” wherein the benefit amount equal to 50% of the Base SA is paid out as lump sum on acceptance of Terminal Illness (TI) claim by us. Upon payment of the TI claim, the policy continues and any due premiums continue to remain payable. In case the life assured survives till maturity, no additional benet is payable and the policy terminates.

Option 2: Life Plus Option

This is a protection oriented variant wherein the customer chooses the Base Sum Assured at the time of purchase subject to underwriting eligibility. In case the life assured dies during the policy term, the stipulated death benefit (based on Effective Sum Assured as applicable on the date of death - defined below) less any payout under Payor Accelerated Benefit will be paid out to the nominee (as per the payout plan chosen) and the policy will terminate. The death benefit shall be based on Effective Sum Assured as applicable on the date of death. The Effective Sum Assured applicable for computation of Death Benefit would include any additional SA purchased by exercising either the Life Stage or the Top-Up SA option as described above along with Base SA This plan has an inbuilt benefit called “Payor Accelerator Benefit” wherein the benefit amount equal to 50% of the Base SA is paid out as lump sum on acceptance of Terminal Illness (TI) claim by us. Upon payment of the TI claim, the policy continues and any due premiums continue to remain payable. In case the life assured survives till maturity, an amount equal to the 105% of the Total Premiums Paid (excluding loading for modal premiums) towards the benefit option shall be payable at the end of the Policy Term, provided the policy is not terminated earlier.

Life Income Option:

This option provides for the Death Benefit along with the regular monthly income. At inception, the policyholder chooses the Base sum assured subject to underwriting eligibility along with Income Start Age and Income Rate. Starting at the end of every month, after Policy Anniversary following attainment of Income Start Age by the Life Assured, the Regular Income shall be paid in arrears until the death of the Life Assured or end of the Policy Term, whichever is earlier. All Regular Income payouts will be paid to the policyholder. In case the life assured dies during the policy term, the stipulated death benefit (based on Effective Sum Assured as applicable on the date of death - defined below) less any payout under Payor Accelerated Benefit will be paid out to the nominee (as per the payout plan chosen) and the policy will terminate. Note, any excess Regular Income payouts will be adjusted from the death benefit in case any payments were made post date of death. At any time period during the policy term, the “Effective Sum Assured” applicable for computation of Death Benefit would be Base SA less total Regular Income payouts due up to that time. This plan has an inbuilt benefit called “Payor Accelerator Benefit” wherein the benefit amount equal to 50% of the Effective SA (as on the date of diagnosis) is paid out as lump sum on acceptance of Terminal Illness (TI) claim by us. Upon payment of the TI claim, the policy continues and any due premiums continue to remain payable. If at any point in time, the stipulated death benefit falls below the Payor Accelerated Benefit already paid, no additional benefit is payable and the policy terminates. In case the life assured survives till maturity, no additional benefit is payable and the policy terminates.

Here: 

• “Income Start Age” means the age of the life insured at which the regular monthly income, if applicable, starts. The choices available are 55, 60 and 65 years, last birthday and this needs to be selected by the policyholder at the time of purchase of the policy. Once selected, it can’t be changed. 
•  “Income Rate” is a xed rate of the Base SA which is used to determine the quantum of regular income payable to the policyholder, if applicable. The rate can be any percentage between 0.01% to 0.15%, in increments of 0.01%, and this needs to be to be selected by the policyholder at the time of purchase of the policy. Once selected, it can’t be changed.
• “Regular Income” is the amount of monthly income payable from the Income Start Age and is set as Income Rate multiplied by Base SA.

Credit Protect Option: 

This is a pure risk variant wherein the policyholder chooses the Base SA at the time of purchase subject to underwriting eligibility. In case the life assured dies during the policy term, the stipulated death benefit (based on Effective Sum Assured as applicable on the date of death) less any payout under Payor Accelerated Benefit will be paid out to the nominee and the policy will terminate. 

This plan has an inbuilt benefit called “Payor Accelerator Benefit” wherein the benefit amount equal to 50% of the Effective Sum Assured (as on the date of diagnosis) is paid out as lump sum on acceptance of Terminal Illness (TI) claim by us. Upon payment of the TI claim, the policy continues and any due premiums continue to remain payable. If at any point in time, the Effective Sum Assured falls below the Payor Accelerated Benefit already paid, the policy will terminate. 

In case the life assured survives till maturity, no additional benefit is payable and the policy terminates. For further details, please refer Policy Document/Benefit illustration

Death Benefit :

In case of death of the life assured for an in-force policy (all due premiums have been paid), the death benefit payable to the nominee is as outlined below:

Life/Life Plus/Life income options -- 

Highest of

• 1.25 x Single Premium or Death Benet multiple1 x Annualized Premium2 ;
• 105% of Total Premiums Paid (excluding loading for modal premiums) up to date of death; or
• An absolute amount assured to be paid on death

In case of death of the life assured during the Grace Period but before the payment of the premium then due, the policy will still be valid and the benefits shall be paid after deductions of the said unpaid premium and also the balance premium(s), if any, falling due from the date of death and before the next policy anniversary. In case of death of the life assured after a valid claim under the Payor accelerator benefit, the above benefit payable on death would be reduced by the amount already paid under Payor accelerator benefit

1 Death Benefit multiple is 7 in case of Life Option and 11 in case of Life Plus and Life income option 2 in aggregate for Base SA and all tranches of Additional Sum Assured 

3 The absolute amount assured to be paid on death is the Effective Sum Assured applicable as on the date of death 

The “Base SA” of the policy would be the sum of the amount payable as lump sum and discounted value of the income stream, as computed using the discount factor mentioned above as at policy inception.. 

“Annualized Premium” shall be the premium payable in a year under a non-single pay option chosen by the policyholder, excluding the taxes, discounts, rider premiums, underwriting extra premiums, loading for modal premiums, if any.

“Single Premium” shall be the premium payable under a single pay option chosen by the policyholder, excluding the taxes, rider premiums, underwriting extra premiums, if any. “Total Premium Paid” means total of all the premiums received, excluding any extra premium, any discounts, any rider premium and taxes.

Credit Protect option - Effective Sum Assured as on the date of death. 

At the time of purchase, the policyholder may stipulate that the nominee named in the policy receive a chosen portion (up to 100%) of the death benefit as lump sum and remaining as a staggered benefit stream over a pre-decided staggered period. The nominee also has an option to receive the commuted value of the future staggered benefit stream as a lump sum. 

Upon payment of entire sum of the death benefit, the policy terminates and no further benefits are payable. 

In case of death of the life assured during the Grace Period but before the payment of the premium then due, the policy will still be valid and the benefits shall be paid after deductions of the said unpaid premium and also the balance premium(s), if any, falling due from the date of death and before the next policy anniversary. In case of death of the life assured after a valid claim under the Payor Accelerator Benefit, the above benefit payable on death would be reduced by the amount already paid under Payor Accelerator Benefit. 

Payor Accelerator Benefit Under this benefit a Lump sum payout equal to

Life/Life Plus: 50% of Base Sum Assured 

Life Income/Credit Protect: 50% of effective SA It is made on conrmed diagnosis of terminal illness. This is an acceleration of the death benefit wherein the amount stipulated above is payable post acceptance of claim. Upon payment of the terminal illness benefit, the policy continues for the remaining Sum Assured and any due premiums continue to remain payable. Payor Accelerator benefit is not available if product is bought under PoS

Terminal Illness is defined as an advanced or rapidly progressing incurable and un-correctable medical condition which, in the opinion of two (2) independent Medical Practitioners specializing in treatment of such illness, has greater than 50% chance of death of the Life Assured within 6 months of the date of diagnosis of Terminal Illness. The Company reserves the right for independent assessment of the Terminal Illness.

Maturity Benefit : Under Life/Life Income/Credit Protect Options, no additional benet is payable if the life assured survives till maturity. Under Life Plus Option, an amount equal to the 105% of the Total Premiums Paid (excluding loading for modal premiums) shall be payable at the end of the Policy Term, provided the life assured survives till maturity and the policy is not terminated earlier. 

Survival Benefit : Survival Benefit is payable only for life income option For an in-force policy (all due premiums have been paid), the following are the benefits payable:

• Starting at the end of every month, after Policy Anniversary following attainment of Income Start Age by the Life Assured, the Regular Income shall be paid in arrears until the death of the Life Assured or end of the Policy Term, whichever is earlier.
• A lump sum equal to Paid-up Terminal Value is payable at maturity, provided the life assured survives till that point.