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Tata AIA 2 Crore Term Insurance

Protecting your family's financial future requires careful planning and commitment. The Tata AIA 2 Crore term insurance plan provides a sum of Rs. 2 Crore to the nominee if the policyholder, unfortunately, passes away during the policy term. Tata AIA Life Insurance offers affordable premiums for this 2 Crore term insurance, ensuring that financial challenges won't concern your loved ones. Let's understand the details of Tata AIA 2 Crore Term Insurance here.

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Note: Know more about what is term insurance first before reading this article.

What is the Tata AIA 2 Crore Term Insurance Plan? 

Tata AIA 2 Crore Term Insurance Plan offers financial security to your family in the unfortunate event of your death. Hence, a 2 Crore term plan offered by Tata AIA Life Insurance helps by offering a cover amount of Rs. 2 Crore so that you can be assured that your loved ones will have a financially protected future.

How Does Tata AIA 2 Crore Term Insurance Work? 

Buying the Tata AIA 2 Crore Term Insurance Plan for a definite policy term ensures that your chosen beneficiary/nominee receives a Rs. 2 Crore death benefit if you unexpectedly pass away. This policy safeguards your family's financial well-being during challenging times. With its affordable premiums and comprehensive coverage, the Tata AIA 2 Crore term insurance plan is a reliable option for those looking to protect their family's future.

one crore term plan
plus

Term Plans

₹1
Crore

Life Cover

@ Starting from ₹ 16/day+

₹50
LAKH

Life Cover

@ Starting from ₹ 8/day+

₹75
LAKH

Life Cover

@ Starting from ₹ 12/day+

Why Buy Tata AIA 2 Crore Term Insurance? 

Here are some of the valid reasons why you should consider buying the Tata AIA 2 Crore Term Insurance plan:

  • Budget-Friendly Premiums: The 2 Crore term insurance plan from Tata AIA is affordable and budget-friendly, providing basic term plan benefits at lower premiums compared to many other options. You can get this plan at Rs. 1,068/month.

  • Added Features: The Tata AIA 2 Crore term insurance plan boosts its coverage with additional benefits through riders, providing protection for risks like accidental death, terminal/critical illness, and premium waiver.

  • Financial Support for Your Family: The Tata AIA 2 Crore Term Insurance plan takes care of your family's financial needs in your absence. Nominees can use the death benefit to settle loans, manage debts, or cover household and personal expenses.

one crore term plan

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What are the Benefits of Tata AIA 2 Crore Term Insurance? 

Here are some benefits of Tata AIA 2 Crore Term Insurance:

  • Affordable Premiums: The cost of a 2 Crore term insurance is very reasonable, especially if purchased at a younger age, starting at Rs. 1,068 per month.

  • Optional Add-ons for Extra Benefits: The Tata AIA 2 Crore term insurance plan provides comprehensive life coverage and allows you to enhance it with additional features like critical illness, accidental death, and premium waiver riders. While not mandatory, these extra features offer added protection against various risks. Keep in mind that you can only add these riders when initially buying the policy.

  • Easy Online Purchase: Buying a Tata AIA 2 Crore Term Insurance plan online is simple and convenient, saving you from visiting a Tata AIA branch or waiting in queues. Through Policybazaar, you can purchase it comfortably from home and receive a 10% discount on online purchases through the Policybazaar website or app.

  • Flexible Payouts: Unlike some insurance companies that provide the death benefit all at once, you have options on how you receive it. For example, you can choose a lump sum or get monthly income payments, giving you more control over managing your expenses.

  • Tax Benefits: Another significant benefit of choosing the Tata AIA 2 Crore term insurance plan is eligibility for tax deductions under sections 80C and 10(10D) of the Income Tax Act, 1961.

How to Determine the Right Coverage Amount? 

Here is a list of all the factors that can help you in determining if buying Rs. 2 Crore is the right cover amount for your term plan: 

  • Your Annual Income: When choosing a term insurance plan, it's smart to make sure the coverage is at least 10 times your annual earnings. For instance, if you earn Rs. 5 Lakhs per year, you should aim for a term life insurance plan with at least Rs. 2 Crore coverage. You can use Policybazaar’s term insurance calculator for a more accurate estimate.

  • Current Age: Your age has a great impact on your term insurance. As you get older, the chances of health problems increase, leading to higher premiums. When you're younger, choosing the Tata AIA 2 Crore term insurance plan guarantees broad life coverage at lower rates. This helps secure your loved ones' financial well-being while keeping premiums affordable over time.

  • Financial Dependents and Their Needs: To figure out if a 2 Crore term insurance plan is sufficient, consider your family's needs and your responsibilities. Consider how many family members depend on you financially and what they might need in the future, like education, career, marriage, and basic living expenses. It's important to ensure all your dependents, especially those relying on your support, have their financial needs covered.

  • Pay off Loans/Liabilities: When buying a term insurance plan, you should know all your pre-existing loans/debts, like home loans, car loans or education loans. Choosing a 2 Crore term insurance policy is wise as it gives you a relatively high coverage compared to other options, helping you achieve your life goals.

How do you buy 2 Crore Term Insurance from Policybazaar?

Here are the steps to buy a 2 Crore term insurance plan from Policybazaar:

Step 1: Visit the official website of Policybazaar and click on ‘Term Insurance’ 

Step 2: Fill in your basic details like Name, DoB, and contact number and then click on ‘View Plans’. 

Step 3: Answer the questions about your smoking habits, your annual income, your type of occupation, and your qualifications. Do not forget to choose 2 Crore as your life cover.

Step 4: Next, a list of all available term insurance plans will be displayed. 

Step 5: Select the most suitable 2 Crore term plan from the available list and pay using your preferred payment method.

Note: Check out the best term insurance plan in India and choose one that suits your requirements.

FAQs

  • Q: What is a Tata AIA 2 Crore Term Insurance Plan?

    Ans: Tata AIA 2 Crore Term Insurance Plan is designed to provide a financial safety net for your loved ones in the event of your untimely demise, offering a sum assured or 'death benefit' of Rs. 2 Crore.
  • Q: How to decide on the right coverage amount?

    Ans: When figuring out the appropriate coverage, consider factors like your yearly income, age, financial dependents, future needs, and outstanding loans. You can easily use Policybazaar’s term insurance calculator for accurate calculations.
  • Q: Why select Tata AIA 2 Crore Term Insurance?

    Ans: Opt for Tata AIA 2 Crore Term Insurance to enjoy high coverage at affordable premiums, along with extra benefits like accidental death coverage, terminal illness benefits, and waiver of premium riders.
  • Q: Who should go for Tata AIA 2 Crore Term Insurance?

    Ans: Tata AIA 2 Crore Term Insurance is an excellent choice for young individuals, self-employed/business owners, newly married couples, parents with children, single earning members, and individuals with debts.
  • Q: What are the key benefits of Tata AIA 2 Crore Term Insurance?

    Ans: The key benefits of Tata AIA 2 Crore Term Insurance are affordability, additional benefits through optional add-ons, online availability for easy purchase, flexible payout options, and tax benefits under sections 80C and 10(10D) of the Income Tax Act.
  • What are the benefits of term life insurance?

    Ans: Here are 4 common term insurance benefits:
    • Low premium rates
    • Tax Benefits
    • Death Benefit
    • Long term coverage

Premium By Age

˜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

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+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.

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