Tata AIA Life Insurance Secure 7 Plan

Tata AIA Life Insurance Secure 7 is a traditional Endowment plan that is designed for savings to meet future requirements and also providing life insurance coverage for protection purpose

Get ₹1 Cr. Life Cover at just ₹449/month⁺

Why Tata Aia Life Insurance? Know More

98.02% Claim Settlement Ratio⁺

4 Hours Claim Settlement⁺

40 Critical Illnesses Benefit⁺

Whole Life Cover⁺

Accidental Death Benefit⁺

Know More

Why Tata Aia Life Insurance?

98.02% Claim Settlement Ratio

The company ensures your loved ones receive the financial support needed in your absence, hassle-free.
4 Hours Claim Settlement

With ‘Express Claims’, TATA AIA endeavors to provide claim payment within 4 hours for policies with Death Benefit upto 50 Lacs.
40 Critical Illnesses Benefit

Additional Payout on 40 Critical Illnesses including Minor and Major Cancer related, Cardiac related and other Critical Illnesses. This benefit safeguards your family against financial urgency resulting from these illnesses.
Whole Life Cover

Ensure financial protection and create a financial cushion for the family even in your absence with a whole life cover plan.
Accidental Death Benefit

One death every minute in India happens due to a road accident. This optional benefit provides your loved one’s additional pay-out in case of death due to an accident.

*Tax benefit is subject to changes in tax laws.

**All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

Disclaimers

Get ₹1 Cr. Life Cover at just ₹449/month⁺

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Key Features

It is a non-participating traditional plan with limited premium payment term
The premiums need to be paid for 7 years after which the company pays Guaranteed Annual Income form the 8^th year for 7 years
The maturity benefit under the plan is 25% of the Basic Sum Assured

Benefits

The Guaranteed Annual Income from the 8^th policy year will be 50% of the Annual Premium and will increase every year in the following manner:

Policy Year	% of Annual Premium
8	50
9	70
10	90
11	100
12	110
13	130
14	150

The total Guaranteed Annual Income paid will be equal to the total premiums paid in the last 7 years
Income tax benefit on the premium paid as per Section 80C and on claims received under Section 10(10D) of the Income Tax Act.

Product Specification:

	Minimum	Maximum
Entry Age (Last Birthday)	18 years	55 years
Maturity Age (Last Birthday)	-	69 years
Policy Term (PT) in years	14 years
Premium Paying Term (PPT) in years	7 years
Premium Paying Frequency	Annual, half-yearly, quarterly or monthly
Yearly Premium	40,000	Depends on SA
Sum Assured	250,000	No limit

Details About Premium

Annual premium in Rupees

Age / Sum Assured	500,000	10,00,000	20,00,000
30	47,075	86,150	123,225
40	50,560	93,120	178,240
50	66,585	125,170	242,340

Policy Details

Grace Period: 15 days grace period is allowed for payment of premium in monthly mode and 30 days for other modes. If premium is not paid within the grace period, the policy lapses
Policy Termination or Surrender Benefit: Policyholder is allowed to terminate the policy by surrendering it. The policy acquires a Surrender Value if 3 full years’ premium has been paid. The value will be higher of the Guaranteed Surrender Value (GSV) or Special Surrender Value (SSV) where GSV = (GSV Factor* Total Premiums paid) – Survival Benefits already paid
SSV = SSV Factor* [(number of premiums paid/number of premiums payable)* Guaranteed survival benefits payable] – survival benefits already paid
Free Look Period: If you would not be pleased with the coverage, and terms and conditions of the policy, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there has been no claim.

Inclusions

The policy provides both death and maturity benefits

Additional Features or Riders

Discount for large Sum Assured for 7 Lakhs and above.

Exclusions

In case of suicide within 12 months of policy inception, only the total premium paid is payable and in case of suicide within 12 months of reinstatement, higher of the total premiums paid or the acquired Surrender Value is payable

Documents Required

Policyholder has to fill up an ‘Application form/ proposal form’ with accurate medical history along with the address proof and other KYC documents. Medical examination may be required in some cases, based on the sum assured and the age of the person.

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˜Top 5 plans based on annualized premium for bookings made on https://www.policybazaar.com in the first 6 months of FY 24-25.

Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in

+Rs. 487/month (Rs.16/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.

Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited

We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881

For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale

Policybazaar Insurance Brokers Private Limited | CIN: U74999HR2014PTC053454 | Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana – 122001 | Registration No. 742, Valid till 09/06/2027, License category- Composite Broker Visitors are hereby informed that their information submitted on the website may be shared with insurers. Product information is authentic and solely based on the information received from the insurers.

+Rs. 820/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.

+Rs. 1,443/month is starting price for a 5 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.

˜ Policybazaar Promise reflects the guarantee offered by insurers. Price assurance is based on certifications shared by insurers with us.