Tata AIA Life Insurance Saral Jeevan Bima

A term plan is unlike other life insurance plans because it only offers a pure life cover and no maturity or survival benefits, or other pay-out benefits. Term insurance plans are also quite well-known for their highly affordable premiums, even when the sum assured is high.

A term insurance plan offers a simple but extensive life cover protection that ensures the future financial security of your dependents or beneficiaries. In case of your demise within the policy term, the predetermined sum assured is paid out to them so they can secure themselves financially.

No, on the contrary, term insurance premiums can be quite affordable even if you opt for a high sum assured. If you opt for a term insurance plan at a younger age, the premium amount is affordable and does not change during the policy term except for taxes as per applicable tax laws.

It is always advisable to purchase a term plan in your 20s or as early as the minimum entry age so that you can benefit from low premiums. At a younger age, you have considerably lower health risks as compared to an older individual, which is why the premiums will also be low.

The maximum basic sum assured you could opt for under this policy is 49,50,000, which may be subject to review as per the company’s policies and guidelines.

There is no maturity benefit under this term policy. The death benefit payable on the death of the policyholder is as follows:

• In case of Regular Pay or Limited Pay, the highest of 10 times the annualised premium (total premiums paid in a year), the predetermined sum assured to be paid on death or 105% of the total premiums paid until the date of the death, will be payable.
• In the case of Single Pay, the highest of 125% of the Single Premium or the predetermined sum assured to be paid on death will be payable.

You can add rider options available under the term plan to your base policy. They can be attached to the policy at the start of the policy duration or on any of the policy anniversaries, provided the rider policy term and premium paying term do not exceed that of the base term plan. These riders will come at an additional but nominal premium cost.

In case you cancel the term plan, you can get 70% of the total premiums paid under the Limited Pay and Single Pay options, provided 2 successive years of premiums have been paid in full, and the policy is still valid at the time of cancellation.

The policy offers the Regular Pay, Limited Pay, and Single Pay options under the premium payment mode, while the premium paying term will be as follows:

• Regular Pay: Equal to the policy term.
• Limited Pay: 5 or 10 years, as long as the premium paying term is shorter than the policy term.
  
• Single Pay: Lump sum amount at policy inception

No, the Tata AIA Saral Jeevan Bima does not offer any loan facility under the policy.

To raise a claim, you can choose any of the following channels to reach out to us.

• Email us at: customercare@tataaia.com
• Call our helpline number - 1860-266-9966 (local charges apply)
• Walk into any of the Tata AIA Life Insurance Company branch offices
• Write directly to us at:

The Claims Department,

Tata AIA Life Insurance Company Limited

B- Wing, 9th Floor,

I-Think Techno Campus,

Behind TCS, Pokhran Road No.2, Close to Eastern Express Highway, Thane (West) 400 607.

IRDA Regn. No. 110

Yes, if your nominee wants to file a claim from outside India, they can file the claim online on our official website and upload all the necessary documents there or send them to us via email.

If they file an offline claim, they will have to courier the documents to their representative in India, who can visit any of our office branches and submit them to file the claim.

Please click here to know the list of documents needed for the claim intimation and settlement process.