TATA AIA Life Insurance Sampoorna Raksha Supreme

General

1. What is a term life insurance plan?

Term Life Insurance is a pure protection life cover product. In term insurance, the policyholder pays a specified sum as a premium to the life insurance company, and in return, the company provides life cover to the insured. On any unfortunate event such as death of the life assured, the pre-specified sum assured (also known as the death benefit) is paid out to the appointed nominee.

Term Insurance plans are affordable, and the premium amount is less if you buy at a younger age. Term insurance plans are a must-have for anyone who is a breadwinner for their family and has loved one’s dependent on their income.

2. Why should I buy a term insurance plan?

Term insurance plans offer a high sum assured for a low premium cost as compared to other life insurance policies. These plans are perfect for people who are the bread earners in the family and have financial dependents. Here are a few reasons why you should buy a term life insurance plan:

• Cost-effective coverage: Term insurance plans have one of the lowest premiums among life insurance policies. You can seamlessly get extensive coverage of up to Rs 1 crore well within your budget.
• Safeguard your family's financial future: The death benefit pay-out from a term insurance plan will secure your family's financial future, even in your absence.
• Customizable cover: You can enhance the coverage of the term plan with a choice of add on riders.
• Tax benefits: The premiums paid for a term insurance can used for availing income tax benefit as per applicable tax laws.
  
  

3. Does term insurance only provide a pure life cover?

A pure term plan will provide only life cover and death benefits to the deceased policyholder’s family if the death occurs within the policy term. However, if the term plan offers a return on premium, then the total of all the premiums paid under the base plan will be paid back to the policyholder if they survive the policy term.

4. Who should buy term insurance?

Anyone who needs a pure risk cover, has financial liabilities and/or wants to secure their family against financial obligations in case of an unfortunate event should get a term insurance policy.

5. Is buying a term policy online safe?

Yes, purchasing a term policy online is safe. Also, the payment process is secured, and you get the benefit of easy access to your policy account, and more transparency and ease in paying the renewal premium.

Policy

6. Is Tata AIA Life Insurance Sampoorna Raksha Supreme a pure term plan?

Tata AIA Life Insurance Sampoorna Raksha Supreme has four plan options, out of which the Life Option and the Credit Protect Option are pure term plans while the Life Plus Option and the Life Income Option offer return of premiums and a regular income option respectively, subject to terms and conditions.

7. How many plan options can one choose under this policy?

There are four types of plan options available under the Tata AIA Life Sampoorna Raksha Supreme plan:

• Life Option - pure risk cover with a death benefit
• Life Plus Option - protection-oriented cover with a death benefit + return of premium on maturity)
• Life Income Option - pure risk cover with a death benefit + survival benefits as a regular income benefit during the policy term
• Credit Protect Option - pure risk cover with a death benefit in line with the outstanding loan amount
  
  

8. When does the earliest one can choose to purchase the plan?

The minimum entry age for purchasing the policy and availing of its benefits is 18 years except for Life Income plan option where the entry age is 30 years.

9. What is the Inbuilt Payor Accelerator Benefit with this plan?

Under the Inbuilt Payor Accelerator Benefit, a pre-defined percentage of the sum assured is paid out to the policyholder on the confirmed diagnosis of terminal illnesses. The benefit paid out under this feature is a part

of the base/effective sum assured, and the payout reduces the sum assured of the plan. Upon payment, the policy will continue with the reduced sum assured and applicable premiums.

For detailed information regarding the definition of terminal illness, the medical requirements, effective rates under different coverage options and other guidelines, kindly refer to the policy document.

10. Can I get maturity benefits with this plan?

Under Tata AIA Life Insurance Sampoorna Raksha Supreme Plan, you can get maturity benefits only under the Life Plus Option coverage. The coverage option pays out 105% of the total premiums paid as a maturity benefit.

11. What are the different Death Benefit options available with the plan?

Under the Tata AIA Life Insurance Sampoorna Raksha Supreme plan, you get the flexibility to choose between Life Option, Life Plus Option, Life Income, and Credit Protect death benefit options.

The Life and Life Plus Option will provide the policyholder with insurance coverage if they pass away during the plan’s tenure.

The Life Income Option will provide the policyholder with income based on the income start age and income rate provided by the policyholder during policy initiation. The policyholder will get the income from the plan until the plan expires or they pass away. The Credit Protect option will help the policyholder in taking care of outstanding loans or debts.

Cover

12. Is it better to choose the Life Option or the Life Plus Option in the policy?

If your requirements indicate the need for pure life cover protection, then the Life Option is the right choice for you. However, if you want to get more out of your term plan than life cover, then the Life Plus Option offers a 105% return of the total premiums paid on the base policy.

13. Is there a critical or terminal illness benefit that comes with the plan?

Yes, all the plan options under the Tata AIA Life Insurance Sampoorna Raksha Supreme have an inbuilt Payor Accelerator Benefit that offers 50% of the sum assured if the policyholder is diagnosed with a terminal illness and once the claim is approved.

14. Can I increase my sum assured at specific stages of life with this plan?

Yes! We understand your need to adjust your term insurance coverage as per your changing liabilities. This is why we offer the Life Stage Benefit with our Tata AIA Life Insurance Sampoorna Raksha Supreme Plan. Under this option, policyholders can increase their sum assured at specific life stages by paying an additional plan premium. The sum assured can be increased by a predetermined percentage within 180 days of the following incidents:

• Marriage (only 1 marriage covered) - 50%
• Birth/Adoption of first child - 5%
• Birth/Adoption of 2nd child - 25%
• Home Loan Disbursal - 100% (subject to disbursal of home loan)

For detailed instructions, procedures, and eligibility for this feature, kindly read the policy document carefully.

15. Can I regularly increase the sum assured at every policy anniversary?

Yes, the sum assured for the Tata AIA Life Insurance Sampoorna Raksha Supreme can be increased through the Top-up Sum Assured Option.

16. Does the plan have a Critical Illness cover? Which critical ailments are covered by the rider?

You can opt for any of the two riders - Tata AIA Non-Linked Comprehensive Protection Rider or Tata AIA Non-Linked Comprehensive Health Rider for Critical Illness Cover. The detailed list of critical illnesses covered under the riders is available in the respective policy documents.

17. Can I increase my plan’s life cover during the policy term?

Yes, you can increase the life cover of your Life or Life Plus plan at any point in time with the Life Stage Option. This optional benefit, you can avail of additional life coverage for important milestones, as per the events and the percentage increase specified in the policy. You will have to increase the sum assured within 180 days of the event to avail of the additional coverage.

With the Top-Up Sum Assured option under your Life or Life Plus plan, you can choose to increase your life cover by 5% of the basic sum assured select at the policy inception. This increase can be opted for at every policy anniversary with an additional premium payment.

18. What rider benefits are available with Sampoorna Raksha Supreme?

When it comes to Tata AIA Sampoorna Raksha Supreme, you get a choice of multiple rider options with the base product:

1. Tata AIA Vitality Health - A Non-Linked, Non- Participating Individual Health rider (UIN:110B045V02)

2. Tata AIA Vitality Protect - A Non-Linked, Non- Participating Individual Health rider (UIN:110B046V02)

3. Tata AIA Non-Linked Comprehensive Protection Rider - A Non-Linked, Non- Participating Individual Health Rider (UIN:110B033V02 or any other later version)

4. Tata AIA Non-Linked Comprehensive Health Rider - A Non-Linked, Non- Participating Individual Health Rider (UIN: 110B031V02 or any other later version)

Premium

19. What are the options under the premium payment frequency?

Under the Tata AIA Life Insurance Sampoorna Raksha Supreme policy, one can opt for a single premium payment option or pay the premiums on a monthly, quarterly, half-yearly or annual basis.

20. Does the plan offer any preferential premium rates?

Under the Tata AIA Life Insurance Sampoorna Raksha Supreme plan, non-smokers and women can get preferential premium rates.

Claim

21. What are the payout options under this plan?

The death benefit under Tata AIA Life Insurance Sampoorna Raksha Supreme Plan is available under 3 options:

• Lump sum - a one-time payment of the entire base/effective sum assured
• Staggered Benefit: income stream, as stipulated by the policyholder, payable to the nominee for a fixed period and frequency
• Combination of lump sum and staggered benefit
  
  

22. What happens to the policy after a terminal illness claim is settled?

Once the terminal illness claim is settled under this policy, the policy will continue to be in effect, and the due premiums will have to be paid.

23. Can the claim payout be made online?

The claim initiation can be done online, and the claim payout can be made through NEFT.

24. How many claims can I make under this plan?

If you choose the Life/Credit Protect/Life Income plan option, your beneficiaries can make a single death benefit claim on your demise during the policy term.

If you opt for the Non-Linked Comprehensive Health Rider, you can make multiple claims under this optional rider benefit as per the coverage it offers.

25. How do I file a claim for this plan?

If you want to raise a claim under this plan, you can choose any of the following channels –

• You can visit our official website, go to the Claims page to upload your documents, and register your claim online.
• For a chat-based service, type “CLAIM” and send it on our WhatsApp number 7045669966
• If you need the documents to be picked up from your home, give us a call. • Look for your nearest Tata AIA branch office here and visit us.
• Get in touch with us on customer.care@tataaia.com or on our helpline number 1860-266-9966 or NRI number +91-80-67603700 for any claim-related assistance.

• The brochure is not a contract of insurance. The precise terms and conditions of this plan are specified in the policy contract .
• Buying a Life Insurance policy is a long-term commitment. An early termination of the policy usually involves high costs and the Surrender Value payable may be less than the all the Premiums Paid.
• This product brochure should be read along with Benefit Illustration.
• This product is underwritten by Tata AIA Life Insurance Company Ltd. This plan is not a guaranteed issuance plan and it will be subject to Company’s underwriting and acceptance.
• Insurance cover is available under this product.
• In case of Sub Standard lives, extra premiums will be charged as per our underwriting guidelines.
• A discount of 1% will be offered on the first-year instalment due premiums for all payments paid through any permissible electronic mode debited through an auto-debit mandate. Such discount shall be capped to a maximum of INR 100 over the year
• In case of POS variant, the product is available with/without medical underwriting • This plan is also available for sale through online mode on Company’s web-site www.tataaia.com
• Income Tax benefits would be available as per the prevailing income tax laws, subject to fulfillment of conditions stipulated therein. Income Tax laws are subject to change from time to time. Tata AIA Life Insurance Company Ltd. does not assume responsibility on tax implication mentioned anywhere in this document. Please consult your own tax consultant to know the tax benefits available to you.
• HDFC Bank Limited (4621612) (IRDAI Registration No: CA0010) is the Corporate Agent of Tata AIA Life Insurance Company Limited and does not underwrite the risk or act as an insurer. HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400 013. Participation by the Bank’s clients in the Insurance products is purely on a voluntary basis. The contract of Insurance is between Tata AIA Life and the Insured and not between HDFC Bank and the Insured.
• Tata AIA Life Insurance Company Limited (IRDAI Regn. No.110 • CIN: U66010MH2000PLC128403). Registered & Corporate Office: 14th Floor, Tower A, Peninsula Business Park, Senapati Bapat Marg, Lower Parel, Mumbai - 400013. Trade logo displayed above belongs to Tata Sons Ltd and AIA Group Ltd. and is used by Tata AIA Life Insurance Company Ltd under a license. For any information including cancellation, claims and complaints, please contact our Insurance Advisor / Intermediary or visit Tata AIA Lifes nearest branch office or call 1-860-266-9966 (local charges apply) or write to us at customercare@tataaia.com. Visit us at: www.tataaia.com L&C/Advt/2023/Sep/2976