Tata AIA Sampoorna Raksha+ Plan

Tata AIA Sampoorna Raksha + Plan is a non-linked, non-participating pure term life insurance plan that provides returns of the premium on maturity. It gives the flexibility to choose between two death benefit options and most importantly, the company returns the premiums in case of survival of the policyholder till the maturity of the plan.

Tata AIA Life Insurance Limited is a joint venture company by Tata Sons and AIA Group. TATA AIA Life is a mixture of Tata’s leadership in India as well as AIA’s leadership at pan-Asian life insurance group. They have about 18 markets across the Asia Pacific region. . Tata AIA Insurance provides multiple investment plans for the customers to safeguard their future. This Company is positioned at rank no.8 because of its individual weighted new business premium.

The customers need to meet the following criteria to purchase The Tata AIA Sampoorna Raksha Plan.

Under Tata AIA Samapoorna Raksha +Plan, the policyholder is given two death benefit options which he/she has to choose at the time purchasing the plan. The two options are:

• Option 1: The sum assured is paid to the nominee post death of the policyholder. After a lump sum payment, the policy will cease to exist.
• Option 2: The sum assured on death is paid as a lump sum benefit at the time of death. The monthly income is payable to the nominee for the next ten years equal to 1% of the sum assured.

The sum assured on death will be the highest of:

1. The annual premium x10.
2. 105% of all premiums paid.
3. The minimum sum assured which guaranteed on maturity.
4. The absolute assured amount payable on the death of the policyholder.

1. Riders:

   You can enhance your coverage by adding optional riders to your Tata AIA Sampoorna Raksha+ Plan at an additional premium. The Accidental Death and Dismemberment (ADDL) can be purchased at the time of inception of the policy. This rider provides beneficiary or policyholder himself a sum of money which is known as Rider Sum Assured if the policyholder meets with an accidental death, dismemberment or suffers from third-degree burns.

2. Tax benefits:

   The Tata AIA Sampoorna Raksha + Plan provides tax benefits to the policyholder and nominee. All premiums paid under this policy are eligible for the tax benefits under Section 80C of the Income Tax Act, 1961. The maturity benefits paid to the nominee or policyholder are also eligible for tax benefits under Section 10(10D) of The Income Tax Act 1961.

3. High protection discount:

   For those who opt for the higher value of protection, discounted premium rates are applicable which are as follows:

Head 1	Discounted premium
50 lakhs to 74 lakhs	NA
75 lakhs to 99 lakhs	12.50%
75 lakhs to 99 lakhs	15.00%

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Tata AIA Sampoorna Raksha + Plan at a glance.

The sample annual premium for a 30-year old individual with policy option "Sum assured on death" and monthly income for the next 10 years.

Suicide: If the life insured commits suicide within 12 months from the commencement of the policy, the nominee is entitled to receive all the premiums paid (excluding the extra underwriting premiums). It is important to note that the policy has to be in force at the time of the event.

However, if the policyholder commits suicide before completion of 12 months from the date of the revival of the policy, the insurer will be paid the highest of:

• All the premiums paid
• The surrender value of the policy

The term life insurance is the purest form of life cover where you buy financial security of your family at much lower rates. Tata AIA Sampoorna Raksha + Plan provides life cover for a period of 10 to 30 years or up to the age of 80 years. You have an option to pay the premiums for the entire policy term or can opt for a limited term of 5 or 10 years. Premiums are lower for females and non-smokers. The premium changes with age and factors such as lifestyle and gender.

The nominee has an option to receive the death benefit as a lump sum or as a regular income up to 10 years post death of the policyholder pus a lump sum benefit. Customers with high coverage are eligible to get a discount on premiums. The absolute amount assured is paid to the nominee on death of the policyholder is the basic sum assured. On survival or till the end of the policy term, all the premiums paid under this policy will be returned to the policyholder. The Tata Sampoorna Raksha + plan gives an optional rider namely Accidental Death and Dismemberment (ADDL) which help you to enhance your policy coverage in case the policyholder meets with an accidental death, dismemberment or suffers from third-degree burns.

All premiums paid under this policy are eligible for the tax benefits under Section 80C of the Income Tax Act, 1961. The maturity benefits paid to the nominee or policyholder are also eligible for tax benefits under Section 10(10D) of The Income Tax Act, 1961.