TATA AIA Maha Raksha Supreme
Introduction to TATA AIA Maha Raksha Supreme
TATA AIA Maha Raksha Supreme is a term insurance plan offered by TATA AIA Life Insurance Company. Using a term insurance plan, you can get a large cover, for a very nominal premium (almost 1000X). This makes it one of the most cost-efficient and essential products for your financial portfolio if you have dependents who rely on your income for their expenses. Should your death happen during the term of the policy, your family will be paid the sum assured (or the cover amount), which can be used to meet any financial needs they would have.
A key feature of this product is that it provides the Rolling Limited Pay option, which allows you to choose the exact number of years over which you'd like to pay your premiums (as specified by the insurer). On the flip side, however, it doesn’t allow you to choose other important customizations such as increasing cover or customize how your family will receive the claim amount. It is also expensive compared to other products in the market. Our research suggests that the insurer has received fewer complaints related to claim settlement and policy purchase, indicating a good track record in both the purchase process and claims service experience.
Pros & Cons: TATA AIA Maha Raksha Supreme
Rolling Limited Pay option available, to speed up payments- Critical illness rider available, and the payout is in addition to the life cover amount
- Received fewer complaints on claim settlement compared to other insurers
- Received fewer complaints during policy purchase compared to other insurers
Expensive than other products in the market- Doesn't offer the option to automatically increase your claim amount, with time
- Not many options to customize claim payout
- No option to exit the plan while it is still active and receive a refund of premiums
About TATA AIA Life Insurance Co. Ltd.
TATA AIA also known as TATA AIA Life Insurance Company Limited a Life Insurance Company in India. Founded in 2000, it is a joint venture between Tata Sons Pvt. Ltd. and AIA Group Ltd. (AIA). The company is headquartered in Mumbai, its CEO Mr. Naveen Tahilyani.
Detailed Product Specs & Rating: TATA AIA Maha Raksha Supreme
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