OREANDA-NEWS. Tata AIA Life Insurance Company (Tata AIA Life) has announced the launch of Tata AIA Life Insurance Maha Raksha Supreme, a ‘pure term’ life insurance solution that offers enhanced protection for one’s family and ensures their future.

“With enhanced protection elements of Tata AIA Life Insurance Maha Raksha Supreme, the future of one’s family will be completely secured. This comprehensive term plan offers our customers the choice of increasing the protection cover for future milestone events such as marriage or birth of a child, without going through fresh medical underwriting. The feature, termed as ‘life stage plus option’, is a unique way of enhancing the value of one’s insurance cover over time,” said Sachin Joglekar, chief agency officer, Tata AIA Life.

Another key feature of this plan is an inbuilt ‘payout accelerator benefit’. In case the insured is found to be terminally ill and, unfortunately not expected to survive for a period greater than six months; 50 percent of the chosen basic sum assured is paid out to him on the diagnosis of the disease. This can help them take care of any sickness / living expenses or the settling of major responsibilities in their lives. The death benefit is payable on the unfortunate event of death within policy term.

Tata AIA Life Insurance Maha Raksha Supreme comes with a minimum sum assured of Rs50 lakh and the choice of any term between 10 to 40 years. The plan offers special rates for women and non-smokers. There is a high cover discount for policies with sum assured equal to or more than Rs1 crore. The customers also have the option of choosing the premium payment term (single premium or regular premiums), based on their convenience.

Tata AIA Life has launched a bouquet of solutions, compliant with the new IRDA guidelines applicable from January 1, 2014. A key highlight of these solutions is the higher protection cover that is now available to both existing and prospective customers