TATA AIA Sampoorna Raksha Supreme

TATA AIA Sampoorna Raksha Supreme is a term insurance plan offered by TATA AIA Life Insurance company.

While it comes at a slightly higher premium compared to other similar products in the market, it does offer some unique features that might interest you to consider this policy. One such unique feature of this plan is that it allows you to choose the exact number of years for which you wish to pay the premiums. It also offers comprehensive critical illness coverage. Additionally, as per our research, the insurer has received fewer claim settlement and policy purchase complaints, and they also have a good track record of settling claims faster. This means that you and your family are likely to get a smooth experience.

On the flip side, the plan fails when it comes to letting you customize some important benefits including increasing covers and claim payout, making it unsuitable for many. 

Here’s a quick review of the TATA AIA Sampoorna Raksha Supreme plan.

What are the key benefits of TATA AIA Sampoorna Raksha Supreme?

• Life cover benefit: This term insurance plan pays an assured sum of money to your family if your death happens during the term of the policy. There is no maturity benefit in this policy - meaning, you don’t get anything back in case you survive the term of the policy. You can claim tax benefits under Section 80C of the Income Tax Act with this term insurance policy. 
• Entry age for the policy: This plan allows you to apply for the policy, when your age is at least 18 years and until you’re 65 years old.
• Cover duration: The plan gives you the option to choose a policy duration of up to 100 years. This is also known as a whole life cover or an ultra-long-term policy. If you choose to buy the policy for 100 years, you would almost guarantee that your family gets the payback, in the event of your death.
• Increasing cover: This plan does not provide you the benefit of an increasing cover, meaning you cannot automatically grow the sum assured with time, to match inflation. Instead, you will need to purchase a new term insurance plan every time you need an upgrade. This could become tricky, especially if you get a lifestyle disease - eliminating any chances that a new plan would be approved later on in life.
• Limited pay: The TATA AIA Sampoorna Raksha Supreme also offers a rolling limited pay option - meaning you can choose the exact number of years you wish to pay your premiums.
• Claim payout options: This plan has a limitation when it comes down to customizing how your family would receive the claim amount. This plan only allows a one-time payout as a lump-sum amount. So, while this might be okay if your nominee or family is comfortable managing a large sum of money, it might be risky in case they’re not.

Which Riders are available with TATA AIA Sampoorna Raksha Supreme? 

The TATA AIA Sampoorna Raksha Supreme comes with additional optional benefits that you can opt for. The riders available with this term insurance policy are -  

• Critical illness rider: This plan includes a comprehensive critical illness rider. Meaning, in case you get any of the serious diseases listed in the policy document, this add-on will pay an additional amount as a lump sum. This money can be used to help your family overcome the loss of income, as well as cater to the additional healthcare and medical expenses that you’ll have to incur as a result of the disease. 
• Accidental death benefit rider: With this rider, your family will receive an additional amount of money if your death happens because of an accident. This is also a great option if you want to increase your overall sum assured in case you are eligible for a cover amount lower than what is required for your family.

Note: Most other similar term insurance products in the market include the Waiver of premium rider. However, this product doesn’t offer it. 

Why should you buy from TATA AIA Life Insurance Company?

• Speed of claim settlement: The insurer has settled 98% of the claims in less than 30 days. This shows that your family most likely won’t have to wait too long to receive their claim amount. 
• Online tracking of claims: TATA AIA Life Insurance allows your family the option to track their claims online and they can also use the toll-free services provided by the company. 
• Claims complaints: Based on the research conducted by our team, we discovered the insurer has received a less number of complaints compared to other insurers. This suggests that your family is likely to experience a seamless and smooth claim settlement process. 
• Home pick up for claims: This insurer gives the option to pick up all claims documents at home, so your family would not have to personally visit the branch office.
• Claim Settlement Ratio: The insurer holds a claim settlement ratio of 98.02% and their claim amount settlement ratio is 95.91%. 

Drawback of buying term insurance from TATA AIA Life Insurance

Now that we have a list of all the benefits of why you should choose the TATA AIA Sampoorna Raksha Supreme, let us quickly look into the drawback of buying from TATA AIA Life Insurance. 

• Length of the claim form: The insurer’s claim form was found to be relatively long, with several questions to answer. This means that your family too will need to go through a time-consuming lengthy form-filling process, during the time of personal distress. 

. How is the customer service provided by TATA AIA Life Insurance Company

• Response on Toll-free: Our research found their response over the toll-free to be quick in comparison with other insurers. 
• Response on Twitter: Similar to other insurers, TATA AIA too provides the option to connect over social media platforms like Twitter, to seek resolution to your questions and complaints. Having said that, our research team found that the company’s response on Twitter is slow.

About the Insurer- TATA AIA Life Insurance 

TATA AIA is also known as TATA AIA Life Insurance Company Limited. It offers Term Life Insurance Plans, Traditional Savings Plans, and Unit Linked Insurance Plans. Founded in the Year 2000, it is a joint venture between Tata Sons Private Limited and AIA Group Limited (AIA). The company is headquartered in Mumbai, with branches across various cities. The CEO / CMD of the company is Mr. Rishi Srivastava.

Final review of TATA AIA Sampoorna Raksha Supreme

Looking at all the product benefits, customer service, and claims experience and based on the 100+ metrics analyzed by our in-house research team, the TATA AIA Sampoorna Raksha Supreme gets a Beshak⭐Rating of 3.7/5.