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Tata AIG Life Raksha Plan

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This plan has been withdrawn by the insurance company and is no longer available for sale.

 

Raksha Plan from Tata AIA Life Insurance


This is a pure term insurance policy which offers high coverage at low and an affordable premium which is best suited for people with high financial responsibilities. In such policies, if the policy holder dies then the nominee is given the sum assured. If the policyholder survives the entire term, then he does not get anything in return.
 

Key Features of Tata AIA Life Raksha Insurance Plan

  •  It is a pure Term Insurance Policy with Death Benefit only
  • This plan provides for an option to shift to any of the Tata AIG Savings Plans
  • Adequate Life Cover with low premium
Have any doubts that need to be clarified? Request a Call Back

 

Benefits you get from Tata AIA Life Raksha Insurance Policy

 

Death Benefit – In case of death of the policy holder, the nominee gets the sum assured under the plan as selected at the beginning of the policy tenure.

 

Maturity Benefit – There are no maturity benefits under this plan.

 

Income Tax Benefit - Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C


 

Eligibility conditions and other restrictions in Tata AIA Raksha Policy

 

 

Minimum

Maximum

Sum Assured (in Rs.)

Not Specified

No Limit

Policy Term (in years)

10

25

Premium Payment Term (in years)

Equal to policy term

Equal to policy term

Entry Age of Policyholder

18

50

Age at Maturity

-

59

Single premium

NA

NA

Payment modes

Yearly, Half-Yearly, Quarterly and Monthly

 

 

Sample illustration of premium amount in Tata AIA Life Raksha Plan

 

The below illustration is for a healthy Male (non-tobacco user) opting for a Sum Assured = Rs. 15 lakhs and Policy Term = 25 years

Tata AIG Life Raksha Premium Rates

 

Additional Features and Benefits of Tata AIA Raksha Plan

 

Riders – There are no riders are available in this policy

 

What happens if?

 

You stop paying the premium - If the policy holder stops paying the premium, then all benefits of the policy will cease after the policy lapses. It can be re-instated within 5 years of lapsation by paying up all due premiums with interest. However, the discretion of revival lies with the Insurer.

 

You want to surrender the policy – Not allowed in this plan.

 

You want a loan against your policy – Loan facility is not provided under this policy.

 

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