Term Insurance

TATA AIA Life Insurance
24 hrs Claim Settlement
Starting from:
₹ 645/month*
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Claim Settlement Ratio- 99.0%
Quick Claim settlement within 4 hours*
Max Life Insurance
24 hrs Claim Settlement
Starting from:
₹ 777/month*
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Claim Settlement Ratio- 99.51%
Quick Claim settlement within 24 hours*
Solvency Ratio- 202%

What is Claim Ratio?

A higher claim ratio is crucial in
assessing an insurer's likelihood to honor
valid claims, making it a key factor in
choosing an insurance company.

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Max Life Insurance
24 hrs Claim Settlement
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Assets Managed by Max Life Term Insurance Company-Rs. 107,510 Cr.
Claim settlement ratio-99.51%
Established in 2000
Solvency ratio-202%
Get free coverage against the diagnosis of Terminal Illness and accelerate pay-out up to Rs. 1 crore. No additional premium to be paid.
Option to receive all premiums paid back, at a specified point in the term of the policy (free of cost).No additional premium to be paid.
Coverage details
(Dynamic)-Cover requested
₹ 1 crore
Covered until
60 years
of Age (can be changed on
the next stage)
Inclusions
Death due to any cause
(e.g.natural, accidental, murder,
illnesses, calamities,Covid-19)
Exclusions
Suicide during first year of the
policy
Key Features
Comprehensive Financial Security: Plan offers death benefit options and add-on benefits.
Terminal Illness Payout: Receive 100% of Sum Assured (up to 1 Crore) on diagnosis of a terminal illness.
Tax Benefits: Premiums up to 1.5 Lac/year exempt from tax under section 80C.Tax-free life cover payout to nominee under section 10(10D) upon demise.
Premium Waiver in Critical Situations:Waiver of future premiums on critical illness or accidental disability diagnosis.
Enhanced Accident Cover: Get additional cover, up to twice the life cover, at a nominal price for accidental death.
Accelerated Critical Illness (ACI) Benefit: Eligible to receive cover amount on diagnosis of any of 40 specified critical illnesses.
Flexible Claims Payout: Beneficiary chooses lump sum, regular payments, or a combination for death benefit.
Max Life term insurance offers a unique premium break after ten years.
Opt for a one-time exit with Return of Premiums under specific conditions.
Increase your sum assured with the voluntary top-up feature after one policy year.
Key Statistics for Max Life Smart Secure Plus Plan:
37.8 Cr
Number of Lives Covered
₹ 1,174,515 Cr
Sum Assured
₹ 107,510 Cr
Assets Managed
265+
Branches across India
What are The Eligibility Criteria for Max Life Smart Secure Plus Plan?
The minimum entry age for the new Max Life term insurance is 18 years, and the maximum age is capped at 65 years. As per the plan, you pay till the age of 60, and the maximum entry age is 44 years.
What Are the Premium Payment Options Available with This Plan?
The premium payment options under this plan are single pay or regular pay. You can alternatively choose a limited pay duration (5 pay, 10 pay, 12 pay, 15 pay, or pay till 60) of the premium payment. The frequency of the premium payment can be annual, half-yearly, quarterly, or monthly.
What Is the Free Look Period?
The policyholder has a period of 15 days (30 days if the policy is sourced through Distance Marketing modes) from the date of receipt of the policy document to review the terms and conditions of the Policy, where if the policyholder disagrees with any of those terms or conditions, they have the option to return the Policy stating the reasons for their objections. The policyholder shall be entitled to a refund of the premiums paid, subject only to the deduction of a proportionate risk premium for the period of cover and the expenses incurred by the company on medical examination of the lives insured and stamp duty charges.
What is Annualised Premium?
Annualised Premium is the base premium amount payable in a year which the policyholder chooses, depending on the policy period and sum assured. The Annualised Premium remains the same irrespective of the premium payment mode. ‘Annualised Premium’ shall be the premium amount payable in a year chosen by the policyholder, excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any. The Annualised premium remains the same irrespective of the premium payment mode.
₹ 777/month*
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TATA AIA Life Insurance
24 hrs Claim Settlement
Download Brochure
103+ years of Life Insurance expertise
Express claim-4 Hours Express Claim settlement
75% of life cover will be paid out immediately in case of critical illness diagnosis.
Complimentary health check-up every year till your policy term.
Save tax upto Rs. 46,800 every year under Section 80C and get 100% tax free returns on maturity
Flexibility to receive benefit as combination of lump sum or income for fixed period.
Get Premium Discount up to 30%^ on rider premiums 2nd year onwards
Value Added Service- 4 medical teleconsultations per month covered by the insurer.
Coverage details
(Dynamic)-Cover requested
₹ 1 crore
Covered until
60 years
of Age (can be changed on
the next stage)
Inclusions
Death due to any cause
(e.g.natural, accidental, murder,
illnesses, calamities,Covid-19)
Exclusions
Suicide during first year of the
policy
Key Features
Choice of one or more Benefit Options (risk covers) including death, accidental death/disability
and illness.
Need based benefit payout: Option to choose Accidental
Death Benefit and Accelerated Critical Illness Benefit.
Cover your loved ones: Special premium rates for
non-tobacco users.
Option to receive return of balance premiums on maturity
Rewards for a healthy lifestyle with enrolment in Tata's Wellness Program
– ‘Tata AIA Vitality’.
Income Tax Benefits as per the prevailing tax laws.
Free Health Check-up annually on your life insurance solution with the inbuilt Tata AIA Vitality Program.
Enjoy a free vitality check covering
HbA1c, Cholesterol, Blood Pressure, and BMI.
On terminal illness diagnosis,
75% life cover paid immediately, 25% on demise.
Provision to double the benefit in case of accidents.
Key Statistics for TATA AIA SRS Vitality Protect:
66,81,026
families protected so far.
INR 11,105 CR.
Total Premium collected in FY21
Company grew at 35% vs. Industry growth of 6% (FY18-21 CAGR)
99.01%
Claim Settlement Ratio.
Tata AIA Life Insurance plants a sapling for every Term policy purchased
4,32,454 saplings plante
What is a life insurance solution?
A life insurance solution is a combination of two or more life insurance products or riders that offer comprehensive coverage to you and your family. A life insurance solution is different from a simple life insurance policy as the features of multiple products/riders are combined to offer multiple benefits on your policy premiums, life cover, and so on.
Do I need a life insurance solution?
Which are the riders# available under this policy?
You can choose from the following riders to cover your family against Accidental Death, Accidental Disability, Critical Illness or Hospitalization expenses:
Tata AIA Vitality Protect - A Non-Linked, Non- Participating Individual Health rider (UIN:110B046V02) – offers life cover, additional cover on Accidental Death, Accidental Disability or Critical Illnesses like cancer, heart conditions etc
Tata AIA Vitality Health - A Non-Linked, Non- Participating Individual Health rider (UIN:110B045V01) – offers coverage from Hospitalization expenses, cancer, cardiac conditions etc
Tata AIA Life Insurance Non-Linked Comprehensive Protection Rider (UIN: 110B033V02)
What is the minimum sum assured I can select for this term insurance solution?
You can choose a minimum sum assured of ₹50 Lakh for your term insurance solution under the Life Option or the Life Plus Option, as applicable.
Will I be able to receive discounts on my premiums with this term insurance solution?
Yes, since the Tata AIA SRS Vitality Protect has the inbuilt Wellness Program, a 10% guaranteed discount will be available on your 1st year’s Term Booster (Rider Benefit option) premium.
The discount 2nd year onwards will be based on your Wellness Status (tracked on Tata AIA Vitality App) and can go up to 30% of Term Booster premium. After that, at the time of policy anniversary, you can avail of other benefits on your premiums and coverage, depending on your wellness status.
Does the Tata AIA SRS Vitality Protect offer whole life coverage?
Yes, a whole life coverage option is available under the Tata AIA SRS Vitality Protect until 100 years of age.
How many claims can I file under the Tata AIA SRS Vitality Protect solution?
One claim can be filed by your nominee under the Tata AIA SRS Vitality Protect solution for the death benefit, which includes the policy sum assured as well as the Term Booster benefit. In case of the diagnosis of a terminal illness, you can submit the required medical reports and documents for the Term Booster benefit payout.
₹ 645/month*
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