Tata AIA Life Insurance Vital Care Pro is a unique critical illness health insurance plan offered by TATA AIA Life Insurance Company Limited. With this plan, you can get comprehensive health care protection against 15 critical illnesses at an affordable cost. You can choose to receive the critical illness benefit in the form a lump sum amount or lump sum plus regular income benefit. You also have the floater option to get cover for your spouse.
Eligibility - Who is the Tata AIA Life Insurance Vital Care Pro for?
Listed below are the eligibility factors you must meet to purchase Tata AIA Life Insurance Vital Care Pro:
|Entry age of life assured and spouse
||18 to 65 years
||Up to 85 years
Sum Assured and Premium Range - What you get and what it costs?
The premium amount, Policy Term, PPT, and Sum Assured for Tata AIA Life Insurance Vital Care Pro are as follows:
||Individual life coverage:
Joint life coverage:
Maximum: Based on maximum Basic Sum Assured
|Basic Sum Assured
||For simplified issuance: Rs.5 lakhs to Rs.20 lakhs
For fully underwritten issuance: Rs.20 lakhs to Rs.60 lakhs
||10, 15, 20, 25, 30 years
|Premium Payment Term
||Same as policy term
|Premium payment options
||Annual, half-yearly, quarterly or monthly
Premium rates are guaranteed for the first 15 years and revisable thereafter depending on the critical illness experience.
Plan Coverage - What the Tata AIA Life Insurance Vital Care Pro covers?
Under this plan, you get the following benefits:
- The 15 critical illnesses covered by Tata AIA Life Insurance Vital Care Pro are cancer, aorta surgery, Parkinson's disease, benign brain tumour, Alzheimer's disease, multiple sclerosis with persisting symptoms, stroke, organ or bone marrow transplant, first heart attack, motor neurone disease, kidney failure, permanent paralysis of limbs, open heart bypass surgery, open heart replacement, and coma.
- Once you are diagnosed with any of the covered critical illnesses, you will get a lump sum critical illness cover of up to Rs.6 lakhs.
- No medical records are required to purchase this policy, subject to a maximum Sum Assured of Rs.20 lakhs.
- Comprehensive health care protection at an affordable price.
- Monthly payouts on critical illness benefit claim are paid for a period of 10 years.
- Critical Illness Benefit is 100% Basic Sum Assured payable as lump sum upon diagnosis of any of the covered critical illnesses. For individual life coverage, you can choose between Pro Care (lump sum benefit) and Pro Care Plus (lump sum with income loss benefit). For joint life coverage (your spouse can be covered under the same plan), you can choose between Duo Care (lump sum benefit with joint life) and Duo Care Plus (lump sum and income loss benefit with joint life). Income loss benefit is 1/120th of the Basic Sum Assured paid monthly over a period of 120 months. Critical illness benefit is payable if the life assured survives minimum 30 days from first diagnosis of the critical illness. In the case of demise of life assured, nominee will be paid the income loss benefit.
- Flexible premium payment modes (yearly, half-yearly, quarterly or monthly).
Exclusions - What the Tata AIA Life Insurance Vital Care Pro doesn’t cover?
Tata AIA Life Insurance Vital Care Pro doesn’t cover any of the 15 critical illnesses if it is caused directly or indirectly by the following events:
- Any disease, illness, injury or medical condition that the life assured had contracted before the policy commencement or revival.
- Any critical illness or symptoms occurring within 90 days of policy commencement or reinstatement date.
- Existence of STD (AIDS/HIV).
- Failure to seek medical advice or delay in treatment.
- Any medical condition that was not disclosed in the base policy proposal form.
- Self-inflicted injuries, suicide attempts, insanity or criminal acts.
- Drug or alcohol abuse.
- War, terrorist attacks, riot, civil unrest, rebellion, revolution and the like.
- A congenital condition present from birth.
- Diagnosis and treatment outside India.
- Participation in peacekeeping activities or any sort of armed forces.
- Nuclear explosion, nuclear waste or radiation exposure.
- Accidental injuries occurring from participating in sporting activities like racing, scuba-diving, bungee-jumping, parachuting, hang-gliding, skydiving, etc. Any aerial flight activities other than as a crewmember or passenger on a commercial plane.
Other Key Features – Freelook Period, Surrender Values, Grace Period etc.
Listed below are the key features of Tata AIA Life Insurance Vital Care Pro:
Free-look period: From the date of receipt of the policy document, you are given 15 days to review the terms and conditions of the policy. If you have any objection to the terms and conditions, you have the option to return the policy and get refund minus few charges.
Grace period: If you fail to pay premium within the due date, you are given a grace period of 30 days for annual and half-yearly premium payment mode, and 15 days for monthly mode to pay the premium without interest. If the premium is not paid within the grace period, then the policy will lapse.
Policy revival: You can revive the policy within 2 years from the date of first unpaid premium. You must submit a written request for policy revival and pay all the premiums due till the revival date. The company will expect proof of insurability and health certificate.
Waiting and Survival Period: The critical illness benefit can be claimed only if the illness is diagnosed after a waiting period of 90 days which starts from the date of policy commencement or reinstatement, whichever is later. In addition, the life assured has to survive the illness for a period of 30 days starting from the date of diagnosis.
Tax Benefits - How you can save with the Tata AIA Life Insurance Vital Care Pro?
Under Tata AIA Life Insurance Vital Care Pro, you can get tax benefits on premiums paid towards critical illness policy under Section 80D of the Income Tax Act, 1961.
Other Benefits - How you can save with the Tata AIA Life Insurance Vital Care Pro?
There are several other benefits of purchasing group insurance plans from Tata AIA Life such as:
Premium calculator: The online premium calculator available on the company website can be used to easily calculate how much premium you need to pay for your policy.
Customer care: For any life insurance related queries, you can call Tata AIA Life Insurance Company Ltd helpline at 1860-266-9966, visit the company website or SMS 'LIFE' to 58888.
Application status: You can check the application status of your policy online through the company website.
Premium payment: You can make premium payments via multiple channels such as PayTm, netbanking, Jio Money, NEFT, Electronic Bill Processing and Payment, ICICI Bank Quick Pay, and IMPS.
Grievance redressal: TATA AIA Life acknowledges grievance within 3 working days and presents resolution within 2 weeks. Grievance can be registered through TATA AIA Life helpline at 1-860-266-9966, email at firstname.lastname@example.org, online policy account on www.tataaia.com, SMS 'SERVICE' to 58888 or visit one of the nearest Tata AIA Life branches.
Why should you buy Tata AIA Life Insurance Vital Care Pro from Tata AIA Life Insurance Company Limited?
Following are the reasons why you should buy Tata AIA Life Insurance Vital Care Pro from Tata AIA Life Insurance Company Limited:
- Get superior health protection against 15 critical illness at an affordable cost.
- TATA AIA Life Insurance Company Limited is considered one of the largest independent-listed pan-Asian life insurance group across 18 markets in Asia Pacific.
- By the end of FY16, the retail Claims Settlement Ratio of TATA AIA Life was 96.8%.
- Tata AIA Life won the Golden Peacock Award for Risk Management in 2016.