Mumbai, India – Tata AIA Life Insurance, regarded as one of India's reliable life insurance providers, presents Maha Raksha Supreme Select, a term insurance plan designed to meet all your changing financial responsibilities that come with different life stages. This established solution offers life cover with return of premium option, flexible premium payment and multiple benefits benefits that ensure continued relevance for today's families. Key highlights of Tata AIA Maha Raksha Supreme Select • Life Stage option offers an increase in coverage upon significant life events (marriage, birth of a child, home loan, etc). • Annual Top-Up feature enables you to increase coverage, maintaining pace with inflation and increased financial obligations, annually. • Return of premium option will return 100% of total premiums paid to you at the end of the policy term on survival. • FlexiPay benefit allows premium to be deferred for a maximum of twelve months without losing coverage. • Instant payout of ₹3 Lakh after claim intimation. • 50% of life cover paid on diagnosis of terminal illness. Remaining amount paid on death. Also future premiums will be waived off and policy benefits will continue. • Joint Life option will cover both partners and includes an option for the survivor to continue cover. • 0% GST on premiums paid. Further, avail tax benefit under Section 80C on premiums paid. Death benefit is completely tax free • Discounts for women policyholders, salaried personnel and Tata group employees Benefits Tata AIA Maha Raksha Supreme offers Maha Raksha Supreme Select has been designed with a focus on adaptability. Through the Life Stage Coverage option, policyholders may increase their term insurance cover at important life events, ensuring protection aligns with changing responsibilities. The Top-Up Benefit further enhances cover annually, helping families stay prepared for inflation and growing expenses. For customers who prefer financial value along with protection, the plan offers maturity benefits. Under specific variants, 100% of premiums paid (excluding modal loading and discounts) are returned at the end of the policy term. This makes the plan a compelling choice for those who want the dual advantage of protection and value recovery in their life insurance journey. The Payor Accelerator Benefit ensures that in the case of a terminal illness diagnosis, 50% of the base sum assured is paid immediately. Future premiums are waived, relieving policyholders of additional financial burden and offering their families timely support during difficult times. With its Joint Life option, Maha Raksha Supreme Select allows couples to avail coverage under a single plan. If one life insured passes away, the surviving policyholder may continue coverage under a single premium plan, ensuring long-term protection. Additionally, 15% lower premium rates for women and 8.5% discount for salaried personnel reflects Tata AIA’s efforts to make life insurance affordable and inclusive for a wider customer base. The plan’s FlexiPay feature allows policyholders to defer premium payments for up to 12 months while keeping full coverage active. If a claim arises during this period, the sum assured is paid after deducting unpaid premiums. This flexibility supports policyholders during short-term financial challenges without compromising their family’s security. Tata AIA Maha Raksha Supreme Select simplifies claims by offering an instant payout benefit. After three policy years, ₹3 Lakh is paid after claim intimation, while the remaining assured sum is disbursed after due process. This quick access to funds provides immediate relief to families. The plan includes a renewability option that allows customers to extend their coverage term up to five times at maturity. This ensures financial protection continues through later years, offering reassurance to policyholders planning for long-term security through term insurance. Term plans are exempted from GST. Additionally, premiums paid toward the plan are eligible for deductions under Section 80C, while payouts are eligible for exemptions under Section 10(10D) of the Income Tax Act, 1961. This makes the plan both protective and tax-efficient. Variants of Tata AIA Maha Raksha Supreme Select Tata AIA Maha Raksha Supreme Select offers four plan options to suit different needs. • Life Secure Option: Provides death benefit to the nominee; no maturity benefit if the policyholder survives the term. • Life Secure Plus Option: Returns 100% of premiums paid at maturity, along with any opted Life Stage or Top-Up benefits. • Joint Life Secure Option: Covers both spouses under one plan; death benefit paid if either passes away, no maturity payout. • Joint Life Secure Plus Option: Covers both spouses; returns 100% of premiums at maturity, including any chosen Life Stage or Top-Up benefits. To strengthen coverage further, policyholders may add riders at policy inception or policy anniversaries. Tata AIA Health Buddy provides below additional benefits at nominal charge: • Accidental Death Benefit: Pays an additional sum assured if death occurs due to an accident. • Accidental Total and Permanent Disability: Provides financial support if the insured suffers a permanent disability caused by an accident. • Waiver of Premium: Waives all future premiums in case of disability or critical illness, ensuring that the policy remains active without extra financial pressure. • Critical Illness Cover: Offers protection against 40+ critical illnesses including cancer and cardiac conditions. • Doctor Teleconsultations: Connect with top doctors in a few clicks - anytime, anywhere. • Medical Second Opinion: Get medical second opinion from specialists, a health concierge for end-to-end support and a case doctor for guidance throughout the process. • Preventive Health checkup & discounted Vaccination: Get preventive health checkup. Order medicines from home and enjoy extra discounts. These additional benefits allow individuals to customise their term insurance plan according to their specific needs, adding another layer of security for their loved ones. About Tata AIA Life Tata AIA Life Insurance Company Limited (Tata AIA) 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. Tata AIA reported a total Premium Income of INR 25,692 crore for FY24, up 25% from FY23. The Company continues to rank among the Top 3 Private Insurers in Individual Weighted New Business Premium (IWNBP) with an IWNBP income of INR 7,413 crore. The Individual Death Claims Settlement ratio improved to 99.41%. The Company also achieved industry-leading Persistency performance (based on premiums), ranking #1 in four out of five cohorts. About the Tata Group 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 2023-24, the revenue of Tata companies, taken together, was more than $165 billion. These companies collectively employ over 1 million people. Each Tata company or enterprise operates independently under the guidance and supervision of its own board of directors. There are 26 publicly listed Tata enterprises with a combined market capitalisation of more than $365 billion as on March 31, 2024. About AIA 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 (1), Thailand, Singapore, Malaysia, Australia, Cambodia, Indonesia, Myanmar, New Zealand, the Philippines, South Korea, Sri Lanka, Taiwan (China), Vietnam, Brunei and Macau SAR (2), and a 49% joint venture in India. In addition, AIA has a 24.99% shareholding in China Post Life Insurance Co., Ltd. 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 US$286 billion as of 31 December 2023. 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 42 million individual policies and over 18 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 codes “1299” for HKD counter and “81299” for RMB counter with American Depositary Receipts (Level 1) traded on the over-the-counter market under the ticker symbol “AAGIY”. (Disclaimer: The above press release comes to you under an arrangement with NRDPL and PTI takes no editorial responsibility for the same.). PTI