Tata AIA Life Insurance Saral Jeevan Bima Term Plan
Tata AIA Life Insurance Saral Jeevan Bima Term Plan
Tata AIA Life Insurance Saral Jeevan Bima is a standard term plan for everyone with easy-to-understand terms and conditions. It is a non-linked, non-participating term insurance plan ensuring complete protection to your family in your absence. It’s a simple and affordable solution catering to your family’s financial needs in your absence.
Tata AIA Life Insurance Saral Jeevan Bima Features
- Tata AIA Life Insurance Saral Jeevan Bima is an affordable pure protection plan offering complete security to your loved ones in your absence.
- This simple term plan gives you the flexibility to choose your preferred policy term and premium paying term.
- The minimum entry age is 18 years, and the maximum is 65 years.
- The maximum maturity age is 70 years.
- The policy term ranges between 5 – 40 years, subject to maximum maturity age.
- It offers lower premiums for female policy buyers.
- It comes with the option to opt for optional riders to enhance your policy coverage.
- The policy does not provide any maturity benefit, survival benefit, and surrender benefit.
- Tax benefits are applicable as per the prevailing laws of the Income Tax Act.
What will my family receive if I am not around anymore?
On the life assured’s death during the policy term, the nominee of the policy will receive the sum assured in a lump sum, which shall be:
In the case of Regular & Limited Premium payment policies, the highest of
- 10 times the Annualized premium
- 105% of all premiums paid as on the date of death
- Absolute amount assured+ to be paid on death
In the case of Single premium policies, it is Higher of
- 125% of Single premium
- Absolute amount assured+ to be paid on death
Upon the payment of death benefit, the policy terminates, and no further benefits are payable.
Why should you choose the Tata AIA Life Insurance Saral Jeevan Bima?
- To ensure your family’s financial protection in your absence.
- To avail the benefits of a simple term plan that fits in your budget.
- To choose the right policy term and premium payment option as per your convenience and affordability.
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