Tata AIA Life Insurance has seen a growing adoption of its Param Raksha Life Pro+ plan among Non-Resident Indians (NRIs). This comprehensive life and wealth solution addresses the unique protection and investment needs of NRIs living abroad, providing financial security for their families in India while offering potential wealth growth opportunities.
Param Raksha Life Pro+ combines life coverage with market-linked returns, allowing NRIs to secure their family’s future in India while building long-term wealth across borders. The plan offers market-linked wealth creation through a Unit-Linked Insurance Plan (ULIP), flexible policy structure, and wellness benefits, including complimentary doctor teleconsultations and accidental disability cover.
One of the key benefits of Param Raksha Life Pro+ is its substantial life cover benefit, which provides a crucial lump sum payment to the policyholder’s family in the event of their passing. This payout enables families to immediately compensate for the loss of earnings and continue their existing lifestyle in India without disruption. The plan also provides protection against accidental disability, with a lump sum payment made in case of total and permanent disability.
The Terminal Illness benefit is another unique offering, where a percentage of the death benefit is released in advance when a covered terminal illness is medically confirmed. This advance payout delivers vital financial resources during challenging times and eases the burden of mounting medical expenses for families.
Param Raksha Life Pro+ offers considerable payment flexibility, with multiple limited premium payment options and a minimum payment duration of just five years. The plan’s life coverage extends to a maturity age of 100 years, and individuals aged 18 to 65 are eligible to enroll.
The investment component of the plan is linked to market performance, with premiums paid towards the investment portion allocated to professionally managed funds of Tata AIA. This offers NRI policyholders the opportunity to build wealth over time while participating in India’s growth story.
Tata AIA Life Insurance Company Limited (Tata AIA) is a joint venture between Tata Sons Pvt. Ltd. and AIA Group Ltd. (AIA). The company reported a total Premium Income of INR 31,484 crore for FY25, up 23% from FY24, and continues to rank among the Top 3 Private Insurers in Individual Weighted New Business Premium (IWNBP).
The Tata group, founded by Jamsetji Tata in 1868, is a global enterprise comprising 30 companies across ten verticals, operating in over 100 countries across six continents. AIA Group Limited, on the other hand, is the largest independent publicly listed pan-Asian life insurance group, with a presence in 18 markets and total assets of US$305 billion as of 31 December 2024.
Overall, Param Raksha Life Pro+ is a comprehensive offering for the NRI community, providing protection in the event of an unforeseen incident, wealth generation potential aligned with India’s markets, and added wellness incentives to encourage customers to maintain good health. The plan’s flexibility accommodates the unique needs of Indians living and working abroad, making it an attractive option for those looking to secure their family’s financial future.