Tata AIA Life Health Protector Plan
Tata AIA Life Health Protector Plan is a Non-Participating Health Insurance Plan. This is a Traditional Plan without Bonus Facility which gives standalone Health and Accidental Benefit.
How it works – In this plan, premium needs to be paid till the end of the Policy Tenure. The policy is valid for 5 years during which there is no change in premium.
This plan has Critical Illness Coverage facility where the Life Insured is diagnosed with any of the Critical Illnesses mentioned after 180 days of policy inception and survives for more than 30 days, then a lump sum amount is paid to the Life Insured as Critical Illness Benefit. The Critical Illnesses covered would be 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. The Critical Illness Benefit would cease once a claim is made but the remaining policy can continue.
This plan has Cancer Care Benefit where the Life Insured is diagnosed with Cancer after 180 days of policy inception and survives for more than 30 days, then a lump sum amount is paid to the Life Insured as Cancer Care Benefit and the policy continues to pay the remaining benefits. The Cancer Care and the Critical Illness Benefit cannot be opted for together.
This plan has Accidental Death Benefit where the nominee would be paid the ADB Sum Assured in case of Accidental Death of the Life Insured within the Policy Tenure.
This plan also has Total and Permanent Disability Benefit where the full Sum Assured is paid on Total and Permanent Disability due to illness or accident after 12 months from Policy Issuance.
Along with the above mentioned facilities, this plan offers Term Life Benefit, where the Sum Assured is paid to the nominee as Death Benefit if the Life Insured dies within the Policy Tenure.
Key Features of Tata AIA Life Health Protector Policy
- This is a Non-Participating Term Plan
- This policy can be taken for 5 years during which the premium is guaranteed
- This plan has special benefits:
- Critical Illness (CI) or Cancer Care Benefit
- Accidental Death Benefit (ADB)
- Term Life Benefit
- Total & Permanent Disability Benefit (TPD)
- This plan has Level Premium for 5 years and may change at the time of renewal depending upon underwriting decisions
Benefits you get from Tata AIA Life Health Protector Insurance Plan
Death Benefit – Being a health plan, there is no Death Benefit in this plan. The Sum Assured is paid as Death Benefit only if the Term Rider has been opted for.
Maturity Benefit – Being a health plan, there is no Maturity Benefit in this plan.
Income Tax Benefit – Premium paid towards Critical Illness Benefit and Cancer Care 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 Protector Insurance Policy
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Minimum
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Maximum
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Policy Term (in years)
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5
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Premium Payment Term (in years)
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Equal to PT
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Entry Age of Life Insured (in years)
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18
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60
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Age at Maturity (in years)
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-
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65
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Payment modes
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Yearly, Half-yearly, Quarterly, Monthly
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Additional Features and Benefits of Tata AIA Life Health Protector Plan
Riders- There are no additional riders available with this plan-
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 5 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 no Surrender Benefit in this plan.
You want a loan against your policy - There is no loan available under this plan.
