Mumbai: Private insurer Tata AIA Life Insurance Thursday launched 'Maha Raksha Supreme', a term insurance plan that offers customers a wide range of life protection options.
"An unfortunate event in the life of the bread earner of the family may seriously affect the Standard of Living (SOL) of his loved ones and burden them with unexpected liabilities. With Maha Raksha Supreme, our customers will also have the choice of increasing the cover amount for future milestone events like marriage and birth of a child, without going through the hassles of fresh medical underwriting by opting for Life Stage Plus option," Tata AIA Life Managing Director Suresh Mahalingam said in a release here.
The scheme comes with a minimum sum assured of Rs 50 lakh and offers special rates for women and non-smokers.
Payment for the policy can either be through single premium or regular premiums and will be eligible for tax benefits.
Maha Raksha Supreme is available to individuals between the ages 18-70 years for the Pure Protection Cover option and ages 18-55 years for the Extra Protection Cover option.
The customers can further enhance their cover by choosing from an array of riders for additional protection by paying an additional premium.
This would include Accidental Death Benefit, Surgical Benefit covering more than 900 surgeries and Critical Illness Lump Sum Benefit covering six critical illnesses like cancer, stroke, heart attack, coronary bypass surgery, chronic renal failure, major organ transplant.
Tata AIA Life is a joint venture company of Tata Sons and AIA Group.