Tata AIA instaProtect Plan
Tata AIA instaProtect Plan
Tata InstaProtect is a comprehensive, innovative solution that provides financial protection to you and your family members. This term product combines the long cover benefits with critical illness, accidental death, hospitalization expenses, terminal illness, accidental total and permanent disability, and other benefits like Tata AIA’s vitality program. Let us take a quick look at the key features of Tata AIA InstaProtect before learning more about its benefits.
Key Features Of Tata AIA InstaProtect Plan
Here are the Key features of Tata AIA InstaProtect Plan:
Comprehensive Protection: The Tata AIA InstaProtect offers comprehensive life cover and health protection to you and your family, with flexible packages to choose from. It covers heart conditions, hospitalization, cancer, terminal illness, critical illness, and disability
Cost-effective and economical premium rates: Each plan option come with a flexible term of premium payment and economical premiums for comprehensive benefits and coverage
Return of premium (optional): Receive the premiums paid towards keeping this Tata AIA term insurance plan active at the end of the policy term
Tax Savings Benefit: Get tax benefits as per the applicable laws of the Income Tax Act
Simplified procedure: Smooth and easy on-boarding process with no medical tests, claim settlement processes, and renewal with hassle-free online transaction modes.
Express Issuance: This option offers the claim payout option within 4 hours of registering the claim
Premium Payment Flexibility: You can select the premium payment term and policy term at your convenience.
Benefits of Tata AIA InstaProtect Plan
Following are the benefits of the Tata AIA InstaProtect Plan:
Life Cover Benefit: Protect your family’s financial future in case of your unforeseen demise with this term life insurance. The term cover will take care of your dear one’s financial well-being and provide much-required security in your absence.
Maturity Benefit: Get a return of all the premiums paid for the entire policy term at the time of maturity, with the return of premium option of provided that all premiums were duly paid till the completion of the policy tenure.
Accidental Death Benefits: In case the policyholder suffers an accidental death during the policy term, the rider sum assured will be paid to the nominee on top of the base sum assured. In case the accidental death occurs on public transport, or any other specific circumstances covered under the plan, the nominee will receive double the rider sum assured.
Criticare Plus Benefits: Under this, you will be eligible for lump sum payout on 1st diagnosis of any of the mentioned 40 critical illnesses or undergoing any covered processes. Thus, this benefit offers comprehensive coverage against a number of illnesses such as cardiac and cancer.
Hospicare Benefit: In case of any medical emergency, if you are hospitalized, the hospicare benefit will pay for per day hospitalization advantage of 0.5% of the sum assured amount. Also, if you are admitted to ICU, then an additional 0.5 percent of the sum assured will be payable.
Accidental Total and Permanent Disability Benefit: In case of an unfortunate event such as total and permanent disability because of an accident, a lump sum amount will be paid. This amount will provide coverage for treatment expenses, income loss, etc. In this, the payout amount gets doubled if the accident occurs under some situations such as public transport, etc.
Eligibility Criteria
Life Cover: Protect your family’s financial future in case of your unforeseen demise with a term cover. The term cover will take care of your dear one’s financial well-being and provide much-required security in your absence.
Choose Return of Premium Option: Get ROP for respective coverage at the time of maturity, if the benefit option is in force till the completion of the policy tenure.
Tax Benefits: You can claim term insurance tax benefits as per the prevailing tax laws under sections 80C, 80D, and 10(10D) of the Income Tax Act of 1961.
Parameters
Minimum
Maximum
Sum Assured Package 25, 50, 70 Lakhs Return of Premium option (ROP) ROP, non-ROP Entry Age 18 years 45 years Maturity Age 23 years 75 years Policy Term ROP 10 years 40 years Non-ROP 5 years 50 years Premium Payment Term Single Pay 1 year Limited Pay 5 year PT minus 1 Regular Pay Equal to PT Frequency of Premium Payment Annual/Half-yearly/Quarterly/Monthly
How Does Tata AIA InstaProtect Plan Work?
Step 1: Choose the correct sum assured package
Step 2: Choose Non-Return of Premium (ROP)/Return of Premium
Step 3: Choose Premium Payment Term/Policy Term and Payment Frequency
Step 4: You can easily and quickly buy the customized plan online through multiple digital payment modes. Proceed to pay the premium of Tata AIA InstaProtect Plan
