When deciding between Tata Aia Term Insurance and its competitors, you should consider the policy’s features and coverage. You may also want to consider the Waiver of Premium Rider or the Accidental Death Benefit Rider. Both of these riders can increase your total sum assured. Most of the similar products include these riders as standard.
Insta Protect Solution
The Tata AIA Insta Protect Solution is a comprehensive life insurance plan that includes both a term cover and a health cover. Its optional benefits include critical illness, hospitalization expenses, total and permanent disability, and accidental death. It also offers a premium discount if you have good health.
The InstaProtect Solution is an insurance plan that provides financial protection for your family in case you become ill or die. It is the most comprehensive term insurance plan in the market that covers all aspects of your health, including hospitalization expenses, critical illness, and accidental death. It also offers flexible terms, with a variety of optional riders.
While the Tata AIA Insta Protect Solution offers a waiver of premium cover and critical illness cover, LIC does not seem to offer these benefits. Max Life’s advertisement claims you will get a free return of premium if you die at age 57. This is a good offer, as it means that you’re assured of coverage even if your health changes drastically in the future.
Sampoorna Raksha +
The Sampoorna Raksha Plan by Tata AIA offers a comprehensive life cover till 100 years. The plan also offers a death benefit plan that gives the death beneficiary a lump sum amount. This plan does not charge any premium redirection or partial withdrawal charges.
The Sampoorna Raksha Supreme plan by TATA AIA comes with many benefits, including flexibility and premium payouts. In addition, the plan offers a payout accelerator benefit, which pays out 50% of the basic sum assured in case of terminal illness. Moreover, the Sampoorna Raksha is flexible with both term and whole life coverage, and also offers options for selecting your premium payouts based on life stage.
Another feature of the Tata AIA Sampoorna Raksha Term Plan is its Accidental Death and Dismemberment Rider. Accidents can happen at any time, and without insurance, they can leave a person disabled or even dead. In this case, the Sampoorna Raksha Supreme plan will provide your nominee with a lump sum to cover these expenses, which is crucial for a family’s financial security.
The Sampoorna Raksha plan is a Non-Participating Term Insurance Plan offered by Tata AIA Life Insurance Company. It offers complete life coverage up to 85 years or whole life coverage up to 100 years. The Sampoorna Rakshaksha Supreme plan is available at a slightly higher premium than other similar products, but its benefits outweigh its cost. For example, the plan allows applicants to make a partial payment when they first apply, but the beneficiary only has to pay the first premium payment after the plan is approved. It also allows the life assured to choose how often they pay their premiums, and offers a quick and convenient settlement of any claims.
Fortune Guarantee
The Fortune Guarantee plan by Tata AIA Life Insurance offers a guaranteed lifetime income with comprehensive protection cover. It also offers health protection for critical illness. In addition, it offers two types of income – a fixed monthly payout and a surrender value plan that waives future premiums.
The Fortune Guarantee life insurance plan is a limited premium paying endowment assurance plan that combines protection benefits and savings benefits. The policy will pay you a guaranteed maturity benefit that is equal to the maturity benefit factor multiplied by the total premiums you have paid, as long as you live during the term of your policy. The policy also includes optional riders to extend your coverage.
The Fortune Guarantee Plus pays out on diagnosis of a covered major critical illness, excluding cancer. The payout period starts at the end of the policy year (when yearly income frequency is selected), but it remains in force until the insured person dies. The policy covers 40 diseases. In addition, the policy has a 15-day grace period in monthly, yearly, and quarterly modes. The policy can be revived up to five years before maturity, depending on the policy type.
The Tata AIA Life Insurance company offers customized insurance products. It has won the AON Best Employer award four times in a row.
