Term Plan

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Term Plan

What is Term Plan?

Term life insurance or term assurance is life insurance that provides coverage at a fixed rate of payments for a limited period of time, Sampurna Raksha supreme is a term plan brochure.

Sampoorna Raksha Supreme

A Non-Linked Non-Participating Individual Life Insurance Plan We all want to ensure that our loved ones have a comfortable life and secured future. We all thrive to provide happiness and security to our family. We want to make sure they are never short in terms of financial resources to live the life of their dreams, thereby providing a strong 'foundation' of financial security for them. Presenting Tata AIA Life Insurance Sampoorna Raksha Supreme Plan, an insurance plan that provides financial protection to your family and offers you the flexibility to choose the plan that suits your need.

Plan Benefits

•Life Option :
This is a pure risk variant wherein customer chooses the Base sum assured at the time of purchase. In case the life assured dies during the policy term, the stipulated death benefit (based on Effective Sum Assured as applicable on the date of death - defined below) less any payout under Payor Accelerated Benefit will be paid out to the nominee (as per the payout plan chosen) and the policy will terminate.
• Life Plus Option:
This is a protection oriented variant wherein the customer chooses the Base Sum Assured at the time of purchase subject to underwriting eligibility. In case the life assured dies during the policy term, the stipulated death benefit (based on Effective Sum Assured as applicable on the date of death - defined below) less any payout under Payor Accelerated Benefit will be paid out to the nominee (as per the payout plan chosen) and the policy will terminate. The death benefit shall be based on Effective Sum Assured as applicable on the date of death.
• Flexibility to receive death benefit payout as a Lump sum or Income (up to 60 months) or both
• Option to Increase cover at Important milestones with Life stage option
• Option to increase Sum Assured through top-ups

Key Features

• Flexibility to choose from below Death Benefit options:
- Life Option
- Life Plus Option
- Life Income
- Credit Protect
• Option for Whole Life coverage (till age 100 years)
• Flexibility to receive death benefit payout as a Lump sum or Income (up to 60 months) or both
• Option to Increase cover at Important milestones with Life stage option
• Option to increase Sum Assured through top-ups

Payout Plan

The death benefit under this policy is payable as a lump sum, staggered benefit or a combination of a lump sum amount and staggered benefit, as chosen by the policyholder at time of purchase. This flexibility is called the ‘Payout Plan’. If the payout plan chosen includes staggered benefit, at the time of purchase of the policy, the policyholder would stipulate the benefit amount stream payable to the nominee after death of the life assured.
For premium calculation, sum assured for the staggered portion shall be computed as the discounted value of the income stream using a discount rate of 4% p.a.