Tata AIA Life launches term plan Maha Raksha Supreme
Feb 28 2014 , Mumbai
"With enhanced protection elements Maha Raksha Supreme, the future of one's family will be completely secured. This comprehensive term plan offers the choice of increasing the protection cover for future milestone events like marriage or birth of a child, without going through fresh medical underwriting," Tata AIA Life Chief Agency Officer Sachin Joglekar said in a release.
Further, he said, the feature, Life Stage Plus Option, is a unique way of enhancing the value of one's insurance cover over time.
Another key feature of this plan is an inbuilt 'payout accelerator benefit', that pays 50 per cent of the chosen Basic Sum Assured in case the insured is found to be terminally ill and, unfortunately not expected to survive for a period greater than six months.
The death benefit is payable on the unfortunate event of death within policy term.
Maha Raksha Supreme comes with a minimum Sum Assured of Rs 50 lakh and the choice of any term between 10 to 40 years.
The plan offers special rates for women and non-smokers. There is also a High Cover Discount for policies with Sum Assured equal to or more than Rs 1 crore.
Customers also have the option of choosing the premium payment term (Single Premium or Regular premiums), based on their convenience.
Tata AIA Life is a joint venture company formed by Tata Sons and AIA Group, is an independent publicly listed pan-Asian life insurance group.