TATA AIA Life Insurance Group Term Life Plan

Death Benefits

In case of death of a group insured member, the insured member's/employee's sum insured will be provided to the authorized beneficiaries

Plain sailing processes

From enrollment to claims all the processes involved with the plan are uncomplicated and effortless.

Documents required

No additional documents other than the enrollment form are required to enroll for this plan

Coverage offered

Offers real time coverage, anywhere in the world

Maturity Benefits

The plan does not provide any maturity benefit

Tax Benefits

Insured members are eligible for tax exemption under section 80C of the income tax act 1961 for individual group members

Grace Period offered by the company

The TATA AIA Life Insurance company offers a grace period of 30 days in the event of non-payment of premiums for monthly, quarterly and half yearly modes. During the grace period, the policy would be in force as per the terms and conditions.

Revival of the policy after lapse

If the insured defaults on the premium payments beyond the grace period, the policy will lapse. It can be revived during any time of the policy term with the consent of the company. However, the policy cannot be renewed if no premiums have been paid till the end of the policy year.

Free Look Period

Whenever an insured group member is dissatisfied with the terms and conditions of the policy, he/she can cancel the policy by giving a written notice to the company. Company shall be liable to refund all the premiums paid (without interest) after deduction of proportionate risk premium, stamp duty and medical examination cost.

Suicide Exclusion

In case an insured member commits suicide within one year from the date of entry, no death benefits shall be payable by the company. This is applicable for all schemes with no existing insurance coverage.