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Tata AIA Maha Raksha Supreme: Best Term Plan | Tax Benefits & Payout
Tata AIA Term Insurance
TATA AIA Maha Raksha Supreme
TATA AIA Maha Raksha Supreme Select offers you the option to increase ...Read More
🛡️ IRDAI Approved
⭐ 4.6/5 · 937 reviews
📊 1.80 solvency ratio
✅ 99.41% claim settlement ratio
🌐 500++ pan-India
About TATA AIA Maha Raksha Supreme
A quick read on what this Tata AIA Term Insurance term plan covers and why it might be a fit for you.
TATA AIA has introduced a term plan which covers you for terminal illnesses. You can avail of 50% of the basic sum assured in case you are diagnosed with any terminal illness during the policy term.
In addition to this, if you bought your plan at an early age and now plan to get married, you might feel that the sum assured that you chose would be insufficient for the new chapter of your life. For this, Maha Raksha Supreme offers a Life Stage Plus option that helps you to increase the basic sum assured with upcoming future responsibilities such as marriage and childbirth, without undergoing any medical tests again.
Tata AIA Maha Raksha Supreme Term Plan offers you a range of benefits including:
- Life stage plus option
- Tax benefits
- Special rates for non-smokers and women
- Additional riders
- Death benefit
- Payout Accelerator Benefit
Eligibility Criteria for TATA AIA Maha Raksha Supreme
Entry age
Minimum Age - 18 years. Maximum Age - 50 years.
Maturity age
Maximum Maturity Age - 80 years
Policy term
Minimum term - 4 years. Maximum term - 40 years.
Sum assured
Base sum assured: Rs 50 lakhs to no limit
Policy loan
The policy loan is not available under TATA AIA Maha Raksha Supreme.
Payment Modes
Annual, half-yearly, quarterly & monthly
Pros & cons
A quick honest summary — the strengths and the trade-offs.
Pros
- Additional Riders
- High Cover Discount
- Life Coverage with Terminal Illness Payout
Cons
- No Policy Loan is Available
- No Plan Conversion Option
- No Maturity Benefit
Video reviews
Walkthroughs from the PolicyX team — pros, cons, real claim experiences and who should buy.
TATA AIA Maha Raksha Supreme | TATA AIA Maha Raksha Supreme Benefits | TATA AIA Maha Raksha Supreme
Tata AIA Maha Raksha Supreme Term Plan
Who can buy this plan
Eligibility criteria pulled straight from the policy wording.
Entry Age - 18 years
Minimum Sum Assured - 50 Lakhs
Max Maturity Age - 100 years
Premium Payment Term - Limited Pay/Regular Pay/Single Pay
Max Entry Age - 65 years (Adaptable).
Let's understand how the Tata AIA Maha Raksha Supreme Term Plan works with a simple premium illustration.
Problem
Mr. Verma is looking for a simple and affordable term plan that provides financial safety to his family in case of his unfortunate demise.
Solution
His financial advisor advised him to visit PolicyX.com and buy the Tata AIA Maha Raksha Supreme Term Plan.
Let's understand how the Tata AIA Maha Raksha Supreme Term Plan works for him with a premium illustration table.
| Age of policyholder | Annual premiums | Policy tenure | Premium payment term | Total premiums paid | Sum assured |
| 30 years | Rs 9300 | 30 years | 30 years | Rs 2,79,000 | Rs 50 lakhs |
Key Takeaways: In case of Mr. Verma's demise during the policy tenure, Rs 50 lakhs will be paid to their nominee.
Riders Associated with Tata AIA Maha Raksha Supreme Plan
You can add the following riders to your Tata AIA Maha Raksha Supreme:
Tata AIA Life Insurance Accidental Death and Disability Rider
In case of the policyholder’s demise or disability due to an accident, a payout is paid to the nominee.
Tata AIA Non-Linked Comprehensive Protection Rider
This rider provides coverage for various unforeseen events, such as death, disability due to accident, a wide range of critical illnesses , or terminal illnesses.
Features of TATA AIA Maha Raksha Supreme
Key features that make TATA AIA Maha Raksha Supreme stand out.
Special rates for non-smokers and women
Tata AIA Maharakshak Supreme term plan offers special premium rates for non-smokers and women, upon choosing a higher sum assured amount.
Payout Accelerator Benefit
Under the inbuilt Payout Accelerator Benefit, you can take up to 50% of the basic sum assured in the event of diagnosis of any terminal illness in which the chance of survival is not greater than 6 months.
Free look period
If you are unsatisfied with Tata AIA Maha Raksha Supreme, you will get 15 days of free look period if you bought the policy from an offline medium and 30 days if you bought it online.
Grace period
Tata AIA Maha Raksha Supreme term plan offers 15 days for monthly mode and 30 days for all other ways if you miss the premium payment from the due date.
Benefits of TATA AIA Maha Raksha Supreme
Here are the key benefits of the TATA AIA Maha Raksha Supreme.
Death benefit
Upon the death of the insured during the policy term, Tata AIA Maha Raksha Supreme will provide a death benefit to the nominee.
Surrender benefit
Tata AIA Maha Raksha Supreme term plan offers the surrender benefit for the single pay option only, while regular pay options customers can't opt for the surrender benefit.
Life stageplus option
The Life Stage Option of the plan is an amazing way to increase your sum assured at the important milestones such as marriage, childbirth and adoption of a child.
Tax benefits
TATA AIA offers term insurance tax benefits under section 80C of the Income Tax Act, 1961 for up to 1.5 lakhs of the total premium paid in the same financial year.
Exclusions of Tata AIA Maha Raksha Supreme Term Plan
Here is the list of exclusions associated with the plan:
- Death occurred due to a pandemic is not covered by the company.
- Death caused due to any type of adventure sports.
- If a policyholder commits suicide within the first 12 months of purchasing the policy, then no death benefits are paid to their nominee. Either premiums paid to date or the surrender value of the policy, whichever is higher, is paid to them.
Conclusion
TATA AIA Maha Raksha Supreme is a term plan which covers you for terminal illnesses. You can avail of 50% of the basic sum assured in case you are diagnosed with any terminal illness during the policy term. If you are still confused about which term plan is best for you, then you can contact us at PolicyX.com. One of our insurance representatives will contact you shortly, understand your requirements, and suggest a plan that suits your needs.
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FAQs: TATA AIA Maha Raksha Supreme
The 4 most-asked questions about TATA AIA Maha Raksha Supreme, answered.
Tata Aia Maha Raksha Supreme plan offers 15 days of free look period for offline purchases and 30 days for online purchases.
The minimum age to purchase the Tata AIA Maha Raksha Supreme is 18.
No, you can only get up to 50% of the sum assured upon diagnosis of any terminal illnesses.
The minimum sum assured you can opt for under the Tata Aia Maha Raksha Supreme term plan is 50 lakhs.
Written and reviewed by
PolicyX content is researched in-house and reviewed by an IRDAI-certified insurance specialist before publication.
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