India's 1st IRDAI Approved Insurance Web Aggregator

Tata AIA Life Health Investor Plan

  •  views
  •  views
This plan has been withdrawn by the insurance company and is no longer available for sale.

 

Tata AIA Life Health Investor Plan
 
Tata AIA Life Health Investor Plan is a Non-Participating Critical Illness Benefit Insurance Plan. This is a Traditional Plan without Bonus Facility.
 
How it works – In this plan, premium can be paid till the end of the Policy Tenure or for a limited period as selected. The Limited Premium Paying Term is 5 years less than the Policy Tenure.
 
In this plan, if the Life Insured is diagnosed of any of the mentioned 12 Critical Illnesses after a waiting period of 180 days, then a Lump Sum Benefit is paid towards the same. There is a 5% increase in Critical Illness Benefit every year upto 50% every year. This plan covers the 12 Critical Illnesses- Benign Brain Tumor, Paralysis, Parkinson's Disease, Total Blindness, Cancer, Stroke, Heart Attack, Chronic Renal Failure, Coronary Bypass Surgery, Heart Valve Surgery, Aorta Surgery and Recipient of major organ transplant of Heart, Lung, Liver, Kidney, Pancreas or Bone Marrow. In case the Critical Illness Benefit is paid, then the policy terminates.
 
Now, if there has been no Critical Illness Claim during the entire tenure, then 100% of the premiums are returned on Maturity as Maturity Benefit.

However, if the Life Insured dies within the policy tenure, then the higher of Sum Assured or Total Premiums paid till date, whichever is higher is paid to the nominee as Death Benefit and the policy terminates.
 
 
Key Features of Tata AIA Life Health Investor Policy
 
  • This is a Non-Participating Critical Illness Benefit Health Plan
  • This policy can be opted for Regular Premium or Limited Premium
  • This plan covers 12 Critical Illnesses for which there is a Lump Sum Benefit that is payable on diagnosis
  • The Critical Illness Benefit increases by 5% every year to a maximum of 50%
  • If there has been no Critical Illness Claim during the entire tenure, then 100% of the premiums are returned on Maturity
  • Higher of the Sum Assured or Total Premiums paid is payable on Death
 
 
Benefits you get from Tata AIA Life Health Investor Insurance Plan
 
Death Benefit – If the Life Insured dies within the policy tenure, then the higher of Sum Assured or Total Premiums paid till date, whichever is higher is paid to the nominee as Death Benefit and the policy terminates.
.
Maturity Benefit – If there has been no Critical Illness Claim till the end of the Policy Tenure, then 100% of the Total Premiums paid till date is returned on policy maturity.
 
Income Tax Benefit – Premium paid towards Critical Illness Benefit is up to Rs. 15,000 are allowed as a deduction from the taxable income each year under section 80D and the remaining premium is eligible for a deduction from the taxable income each year under section 80C.
 
 
Eligibility in Tata AIA Life Health Investor Insurance Policy
 
 
Minimum
Maximum
Policy Term (in years)
10, 15, 20
25
Premium Payment Term (in years)
5, 10, 15, 20
Equal to Policy Tenure
Entry Age of Life Insured (in years)
18
65
Age at Maturity (in years)
-
65
Payment modes
Yearly, Half-yearly, Quarterly, Monthly
 
 
Sample illustration of premium amount in Tata AIA Maha Raksha Supreme Plan
 
The below illustration is for a healthy Male (non-tobacco user) opting for a Sum Assured = Rs. 2,50,000 and Policy Term = 15 years
Tata AIA Health Investor Plan Sample Premiums
 
Additional Features and Benefits of Tata AIA Life Health Investor Plan
 
Riders- There are no additional riders available with this plan
 
 
What happens if?
 
You stop paying the premium - If the policy holder stops paying the premium, the insurance cover will cease and the policy will lapse. However it can be revived within 2 years from the first unpaid premium after fulfillment of certain terms and conditions and payment of due premiums and interest.
 
You want to surrender the policy – There are Surrender Benefit in this plan after 3 policy years.
Minimum Guaranteed Surrender Value= 30% of Total Premiums paid - 1st year’s premium
 
You want a loan against your policy - There is no loan available under this plan.

 
Other Health Insurance Plans from TATA AIA
Similar Withdrawn Health Insurance Plans from TATA AIA
Compare Health Plans

Leave a Comment

Health Insurance Calculator