Sun, 03 Dec 2023

Mumbai (Maharashtra) [India], January 24 (ANI/PRNewswire): As the purest and most effective form of life insurance cover available, Term Insurance Plans safeguard policyholders and their families from the uncertainties of life. However, work schedules that keeps everyone busy daily have changed how people live and get affected. Tata AIA Life Sampoorna Raksha Supreme and Vitality Protect rider offer comprehensive protection with wellness benefits for those who wish to safeguard their families' futures. Besides death and terminal illness benefits, consumers now receive wellness benefits and premium discounts for healthy behaviors

Tata AIA Vitality is a globally recognised, science-based wellness program that helps consumers understand and improve their health while also rewarding them. On enrolling into the Wellness Program, consumers get an upfront discount of up to 5 per cent on their premium. The premium discount in the subsequent years may increase or decrease based on their Wellness status (decided based on their engagement levels, Completion of health assessments, achievement of fitness goals etc).

Sampoorna Raksha Supreme product allows customers to opt for a more enhanced protection cover with Tata AIA Vitality Protect Rider and Tata AIA Vitality Health rider. These are non-linked riders, which lets consumers select their choice of protection against a range of health conditions, stay protected against uncertainties such as Death, Accidental Death & Disability, Critical Illness etc and also helps them get their fitness goals on track for bringing positive changes to their health and lifestyle, while rewarding them with premium discounts.

The Tata AIA Vitality Protect rider offers coverage against a range of risks and consumers may opt for coverage against one or more risks as per their needs by choosing from the following Benefit Options:

- Term Booster - Benefit is paid on earlier of Death or diagnosis of Terminal Illness

- Accidental Death - Benefit is paid on Death due to accident. Double benefit is paid in case of accident under specified circumstances e.g. accidental death while travelling in public transport as bus, tram or train.

- Accidental Total & Permanent Disability - Benefit is paid on Accidental Total and Permanent Disability due to accident. The double benefit is paid in case of an accident under specified circumstances e.g. accidental disability while travelling in public transport as bus, tram or train.

- CritiCare Plus - Offers protection against 40 Critical Illnesses including Cancer and Cardiac conditions. On diagnosis of any of the covered conditions, rider sum assured will be paid.

- Accelerated CritiCare - Offers protection against 40 Critical Illnesses including Cancer and Cardiac conditions. Cover for this option will be accelerated sum assured of the base plan.

The Tata AIA Vitality Health offers coverage against a range of risks. One may opt for coverage against one or more risks as per their needs by choosing from the following Benefit Options.

- HospiCare - Pays fixed amount on Hospitalization and on ICU admission. Additional Recuperation benefit in case of hospitalization for 7 or more days

- Accidental Disability Care - Covers both Permanent Total or Permanent Partial Disability due to an accident. Under this option, double Benefit payable in case of accident under specified circumstances e.g. accident while travelling in public transport like bus, tram or train). - Multiple claims allowed in case of partial disability

- Death Benefit Pay-out - Highlights of Tata AIA Life Insurance Sampoorna Raksha Supreme

- Multistage CritiCare - 39 Critical Illness covered including minor stage illness

- Cancer Care - Covers early as well as late-stage cancers

- Cardiac Care - Covers 14 minor as well as 8 major heart-related ailments

The product also offers a whole-life coverage option until 100 years of age. The premium paying terms under the term and term plan with return of premium variants are 5 years, 10 years, 12 years, Single Pay, and Regular Pay.

Tata AIA Life Insurance Company Limited (Tata AIA Life) is a joint venture company, formed by Tata Sons Pvt. Ltd. and AIA Group Ltd. (AIA). Tata AIA Life combines Tata's pre-eminent leadership position in India and AIA's presence as the largest, independent listed pan-Asian life insurance group in the world spanning 18 markets in the Asia Pacific region.

Founded by Jamsetji Tata in 1868, the Tata group is a global enterprise, headquartered in India, comprising 30 companies across ten verticals.

The group operates in more than 100 countries across six continents, with a mission 'To improve the quality of life of the communities we serve globally, through long-term stakeholder value creation based on Leadership with Trust'.

Tata Sons is the principal investment holding company and promoter of Tata companies. Sixty-six percent of the equity share capital of Tata Sons is held by philanthropic trusts, which support education, health, livelihood generation and art and culture.

In 2021-22, the revenue of Tata companies, taken together, was USD 128 billion (Rs 9.6 trillion). These companies collectively employ over 935,000 people.

Each Tata company or enterprise operates independently under the guidance and supervision of its own board of directors. There are 29 publicly-listed Tata enterprises with a combined market capitalisation of USD 311 billion (INR 23.6 trillion) as on March 31, 2022.

Companies include Tata Consultancy Services, Tata Motors Tata Steel, Tata Chemicals, Tata Consumer Products, Titan, Tata Capital, Tata Power, Indian Hotels, Tata Communications, Tata Digital, and Tata Electronics.

AIA Group Limited and its subsidiaries (collectively "AIA" or the "Group") comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets - wholly-owned branches and subsidiaries in Mainland China, Hong Kong SAR, Thailand, Singapore, Malaysia, Australia, Cambodia, Indonesia, Myanmar, New Zealand, the Philippines, South Korea, Sri Lanka, Taiwan (China), Vietnam, Brunei and Macau SAR, and a 49 per cent joint venture in India.

The business that is now AIA was first established in Shanghai more than a century ago in 1919. It is a market leader in Asia (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of USD 302 billion as of 30 June 2022.

AIA meets the long-term savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia, AIA serves the holders of more than 40 million individual policies and over 17 million participating members of group insurance schemes.

AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock code "1299" with American Depositary Receipts (Level 1) traded on the over-the-counter market (ticker symbol: "AAGIY").

This story is provided by PRNewswire. ANI will not be responsible in any way for the content of this article. (ANI/PRNewswire)

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