Correct Answer : Tata AIA Life
Tata AIA Life Insurance has unveiled its latest term insurance product, Sampoorna Raksha Promise. This product is designed to enhance financial security, Tata AIA Life Insurance said.
Here are the key features :
Instant payout : The plan provides an immediate payout of ?3 lakh upon death claim intimation to cover urgent expenses.
Premium deferral : Policyholders can defer their premium payments for up to 12 months once every five years.
Terminal illness benefit : Upon diagnosis of a terminal illness, 50% of the base sum assured is paid out.
Future premiums are waived, and policy benefits continue.
Plan options :
Life promise : Provides coverage up to age 100 with a specified sum assured payable upon the policyholder's death.
Life promise plus : Similar to Life Promise, but includes a refund of 100% of the total premium paid if the policyholder survives to maturity, excluding modal premiums and discounts.
Additional benefits :
Life stage facility : Allows policyholders to increase coverage at key life events, such as marriage, childbirth/adoption, or obtaining a home loan.
Accelerated instant death benefit : ?3 lakh paid within one working day from claim registration if death occurs after the waiting period of three years.
Flexi pay benefit : Enables deferral of premium payments for up to 12 months without additional cost while maintaining full coverage.
Discounts :
Digital discount : 10% off the first year’s premium for online purchases.
Salaried discount : 5% off the first year’s premium for salaried individuals.
Milestone discount : 2% off the first year’s premium for reaching life milestones such as marriage, childbirth/adoption, securing a first job, or obtaining a home loan.
Women’s discount : 15% lower premium for women compared to men..
Source :
CNBC TV18
