Tata AIA launches ‘Shubh Family Protect’ — a life cover combining lump-sum and regular income for family security
With Shubh Family Protect, Tata AIA continues to redefine life insurance as a holistic, family-first financial solution — truly living up to its brand promise: “Har Waqt Ke Liye Taiyaar.”
Mumbai, September 22: Tata AIA Life Insurance (Tata AIA), one of India’s leading life insurers, has launched Tata AIA Shubh Family Protect, an innovative term plan that provides both an immediate lump-sum payout and a flexible monthly income for up to 30 years. The product has been designed to offer comprehensive, long-term financial protection for families, ensuring stability and peace of mind during life’s most challenging moments.
A holistic approach to family protection
Recognizing the challenges families face in managing large one-time payouts after the loss of a loved one, Shubh Family Protect combines instant financial support with the reassurance of regular income continuity. The plan addresses immediate needs such as medical bills or debts while securing a steady flow of income to cover everyday expenses and future goals like education or elder care.
The policy also allows multiple nominees, ensuring that each dependent — spouse, children, or parents — receives financial support as per individual needs, avoiding confusion and ensuring equitable benefit distribution.
Key benefits of Tata AIA Shubh Family Protect
- Immediate Lump-Sum Payout: Quick access to funds for urgent expenses.
- Monthly Income for 10–30 Years: Sustained financial support for long-term needs.
- Flexible Payout Options: Choose between fixed or rising monthly income to adjust for inflation.
- Multiple Nominee Options: Financial clarity and care for all dependents.
- Terminal Illness Protection: 50% of the sum assured paid immediately; all future premiums waived.
- 0% GST Advantage: No GST on premiums for individual life insurance policies.
Commenting on the launch, Sujeet Kothare, Chief of Products, Marketing, Corporate Communications & Business Mid Office, Tata AIA Life Insurance, said:
“At Tata AIA, we believe in going beyond financial protection. Shubh Family Protect ensures that families have the security they need and the flexibility they deserve. The 0% GST further enhances accessibility, making this product a meaningful step toward protecting India’s families.”
Company overview
Tata AIA Life Insurance is a joint venture between Tata Sons Pvt Ltd and AIA Group Ltd, combining Tata’s trusted leadership in India with AIA’s global expertise as Asia’s largest independent listed life insurance group.
For FY25, Tata AIA reported a total premium income of ₹31,484 crore, up 23% from FY24, ranking among India’s Top 3 private life insurers in Individual Weighted New Business Premium (IWNBP) with ₹8,511 crore.
With Shubh Family Protect, Tata AIA continues to redefine life insurance as a holistic, family-first financial solution — truly living up to its brand promise: “Har Waqt Ke Liye Taiyaar.”
