TATA AIA Life Insurance “iRaksha Supreme” is a non-linked and non-participating, term insurance plan. Its an affordable and attractive online pure term plan which can be bought online. This is TATA AIA‘s first online plan. The policy term ranges between 10 to 40 years. Anyone between age 18-70 years can buy this plan online, while the maximum maturity age is 80 years.

Tata AIA iRaksha Supreme online term

Features at glance:

  • Buy at your convenient time and place using internet.
  • Premium starts from Rs.12/day *
  • Preferential Premium Rates for non-smokers
  • Lower premiums for females.
  • Tax benefits u/s 80C & 10(10D) of the Income-Tax Act, 1961

*Rs.12/day For a healthy non-smoker male aged 30 years for term of 25 years, Sum Assured of 50 Lacs and Regular Pay option.

Death Benefit: Nominee will get the sum assured, if policyholder expires within policy term.

Maturity benefit: Since this is pure term plan, policyholder wont get anything on survival.

Premium Options:

  1. Regular: pay regular premium for entire policy term
  2. Limited: pay premium for 5 or 10 years.
  3. Single : pay single premium.

Sample premiums for 30 year old Sum Assured of Rs.1 Crore:

Gender Smoker/non-smoker Term (yrs) Regular pay Limited pay 5 Limited pay 10 Single Premium
Female Non-smoker 25 Rs.6300/- Rs.10,200/- Rs.18,900/- Rs.85,900/-
Female Smoker 25 Rs.9300/- Rs.15,900//- Rs.31,800/- Rs.1,29,000/-
Male Non-smoker 25 Rs.7000/- Rs.11,900/- Rs.21,900/- Rs.1,00,300/-
Male Smoker 25 Rs.10,900/- Rs.18,800/- Rs.37,600/- Rs.1,53,700/-

Eligibility conditions and restrictions for iRaksha Supreme:

  • Entry Age: 18-70 years
  • Maturity Age: 28-80 years
  • Sum Assured: 50 lacs to No limit
  • Policy term: 10-40 yrs (for limited pay 10 yrs plan 15-40 yrs)

If you are non-smoker TATA AIA’s iRaksha Supreme is best online term insurance as you can easily save on your premium.