Tata Aia Smart Sampoorna Raksha Plan
TATA AIA Life Insurance Company
Our Verdict
Tata AIA Smart Sampoorna Raksha is ideal for investors seeking life cover with market-linked growth. It offers fund boosters and flexible withdrawals but carries investment risks typical of ULIPs.
About the Plan
The Tata AIA Smart Sampoorna Raksha Supreme is a unit-linked life insurance plan combining wealth creation and life protection. It offers 11 investment fund options, death benefits, and a refund of premium allocation charges in policy years 10–13. From the 16th year, fund boosters help maintain target returns. Female policyholders receive an extra 0.5% of premiums in the first year. After five years, policyholders can access funds via three withdrawal strategies, ensuring flexibility for long-term financial goals.
About the Plan
Eligibility
• Minimum Entry Age :
18 years
• Maximum Entry Age :
45 years
• Maturity Age :
Maximum of 85 years.
• Policy Term :
30 to 40 years
• Premium Payment Term (PPT) :
Options include Limited Pay for 5, 10, or 12 years, or Regular Pay equal to the policy term.
• Sum Assured :
Minimum of ₹50 lakhs
maximum of ₹5 crores
• Premium Payment Frequency :
Monthly, quarterly, semi-annual, or annual modes are available.
Eligibility
Features of the Product
Inflation Protection Coverage
The Cover Continuance Booster adds extra units to the policy fund, helping to maintain coverage over time.
Premium Payment Customizations
Policyholders can choose from multiple premium payment options:
Regular Pay – Premiums paid throughout the policy term.
Limited Pay – Options of 5, 10, or 12 years.
Payment frequencies available: Annual, Half-Yearly, Quarterly, and Monthly.
Cover Continuance Booster
If the fund value falls below a specified level, the insurer adds extra units to maintain policy coverage.
This ensures the policy continues even if investment returns fluctuate.
Refund of 2X Mortality Charges
Starting from the 11th policy year, at the end of each policy month, twice the mortality charges deducted 120 months earlier are added back to the fund value as extra units.
Ensures a cost-effective policy structure.
Refund of 2X Premium Allocation Charges
At the end of policy years 10, 11, 12, and 13, twice the total premium allocation charges deducted 10 years earlier are refunded into the fund as additional units.
Helps reduce overall policy expenses.
Settlement Option for Maturity Benefit
Instead of receiving a lump sum maturity benefit, policyholders can opt for periodic payouts over five years.
Offers flexibility in receiving funds based on financial needs.
Partial Withdrawals
After five policy years, policyholders can withdraw a portion of their fund value to meet financial emergencies.
Up to four withdrawals per year are allowed without additional charges.
Exclusions
Suicide within 12 months from the risk commencement or policy revival date results in a refund of 80% of total premiums paid or the surrender value, whichever is higher.
If suicide occurs within 12 months of opting for the Life Stage Option, the nominee will receive 80% of premiums paid for the increased sum assured tranche.
No claim will be payable for Terminal Illness Benefit if the condition arises from attempted suicide within the first year from policy inception or revival.
Exclusions
Accidental Death - Policyholders can opt for the Tata AIA Life Insurance Accidental Death & Disability Rider, which provides an additional payout in case of accidental death or disability.
Critical Illness - The Tata AIA Life Insurance Non-Linked Comprehensive Health Rider offers financial protection for critical illnesses, covering a range of medical conditions.
Add-ons
If you are a woman
Female policyholders enjoy preferential premium rates, making the plan more affordable for women.
If you smoke
If you are a smoker, the Tata Smart Sampoorna Raksha Plan applies higher premium rates compared to non-smokers.
Smokers pay more due to the increased health risks associated with smoking. The insurer may require medical tests or disclosures regarding tobacco use before issuing the policy.
Smoking does not impact the sum assured or benefits, but it affects the premium amount.
Note :
Suicide Clause: If the policyholder commits suicide within 12 months from the policy's inception or revival date, the nominee is entitled to receive at least 80% of the total premiums paid up to the date of death, provided the policy is in force. This clause is in place to address claims arising from suicidal deaths occurring within the specified period.
Grace Period: A 30-day grace period is allowed for annual, half-yearly, and quarterly premium payments, while 15 days is provided for monthly payments.
If death occurs within the grace period, the death benefit remains payable after deducting any unpaid premiums.
Free Look Period: If unsatisfied with the policy, policyholders can cancel it within 15 days (or 30 days if purchased online).
A refund is provided after deducting proportionate risk charges, stamp duty, and any incurred medical examination costs.
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About the Company
Tata AIA Life Insurance Company Limited is a leading life insurance provider in India, established in 2001 as a joint venture between Tata Sons Pvt. Ltd. and AIA Group Ltd. This partnership merges Tata's renowned leadership and trust in India with AIA's extensive experience across 18 markets in the Asia-Pacific region. The company is headquartered in Mumbai, India.
A wide variety of products are available from Tata AIA Life Insurance to accommodate different protection requirements and financial objectives. Their portfolio consists of Unit Linked Insurance Plans (ULIPs) that give market-linked returns, savings plans that combine wealth growth and life insurance, and term insurance for family stability. Additionally, they offer retirement plans including annuities and pensions for post-retirement income as well as health insurance to cover medical costs. Every plan offers different policy terms, variable premium alternatives, and extra riders for increased coverage, guaranteeing customised solutions for each policyholder's particular requirements.