Overview of Maha Raksha Supreme Select
Tata AIA Maha Raksha Supreme Select is a comprehensive pure term insurance plan designed to offer flexible and extensive financial protection. Key features include accelerated terminal illness payout, inbuilt waiver of premium for eligible disabilities, and special discounts for women and salaried customers. The plan also offers flexible premium payment options and a broad range of riders for enhanced coverage. While the product is designed to include joint life cover and step-up sum assured features, these options are not yet available for purchase.
Experts' Review of Maha Raksha Supreme Select
Written by Monish Vora
Chief Editor
Maha Raksha Supreme Select (MRSS) is a premium term insurance plan designed for individuals seeking high-value coverage of ₹2 crore and above, typically earning ₹15 lakh per annum or more. Offering the same core features as the Standard Raksha Plan (SRP), MRSS provides enhanced flexibility with seven benefit options to suit evolving life stages and protection needs.
Key highlights include a whole life cover option (up to age 100), accelerated payout of 50% of the sum assured upon terminal illness diagnosis, and an inbuilt waiver of premium during such critical times, ensuring uninterrupted protection without financial burden.
While the plan offers step-up benefits and return of premium options under select “Plus” variants, these come with higher premiums and require upfront selection, limiting flexibility. The minimum sum assured starts at ₹25 lakh, making it ideal for those needing substantial cover but less suitable for smaller cover seekers. Like most pure term plans, maturity benefits are available only with the “Plus” variants.
Pros
TATA AIA has decent track record with good claim and service metrics
It is a feature-rich plan with a critical illness and waiver of premium rider
The plan offers two variants and a Hospicare benefit that provides financial support during hospitalization.
Cons
The criticare benefit has to be renewed every five years.
TATA AIA
Key Insights
Founded
2001
TATA AIA was established 25 years ago and has built strong credibility over time, backed by its long-standing presence in the market.
Claims Experience
99.21% CSR, calculated as a 3-year average
TATA AIA settles 99.21% of all claims it receives demonstrating strong credibility.
Complaints
3 complaints per 10,000 claims registered
TATA AIA maintains a low volume of complaints, reflecting strong customer satisfaction and effective service.
Amount Settled
96.3% of total claim amount settled
TATA AIA demonstrates excellent claim payout efficiency, settling over 96.3% of the total claim amount filed, reflecting strong financial reliability.
The aforementioned ratios have been averaged over three years (FY23-FY25)
Features of Maha Raksha Supreme Select
Hospicare Benefit
Standout
In case of hospitalization, medically necessary treatment of any illness or injury, the insurer would pay upto a certain amount to the policyholder.
Waiver of Premium
Some policies waive all future premium payments if you are ever disabled (due to accident) or diagnosed with a critical illness. Maha Raksha Supreme Select extends the waiver-of-premium option in both cases.
Customisable
Waives all future premiums if a critical illness is diagnosed or in case of accidental total permanent disability, while keeping the policy active.
Critical Illness
If you're ever diagnosed with a critical illness, you would want your insurance policy to pay a fixed sum that can help you deal with any monetary obligations and financially support your needs during treatment. Maha Raksha Supreme Select extends critical illness benefit without too many restrictions and pays up to ₹1 Crore so long as you are diagnosed with one of the 40 illnesses listed in the policy brochure.
Customisable
Pays a lump sum on diagnosis of covered critical illnesses during the policy term.
Terminal Illness
Certain policies will disburse the entire cover amount the moment you are diagnosed with a terminal illness. So you can still get the money when alive and use it any way you wish. Maha Raksha Supreme Select gives you the option to receive the entire or a percentage of sum assured upon diagnosis of a terminal illness.
Cover Continuance Benefit
Certain term insurance plans offer uninterrupted policy continuation even during financial difficulty, but this only kicks in after you've held the policy for a certain number of years. This benefit allows you to defer premium payments for up to a year while your full death benefit remains in effect, free from any late fees or extra interest. Most plans offer this benefit in periodic intervals. Maha Raksha Supreme Select offers this benefit.
Add-ons of Maha Raksha Supreme Select
CritiCare Plus Benefit
Pays a lump sum on diagnosis of covered critical illnesses during the policy term.
Hospicare Benefit
In case of hospitalization, medically necessary treatment of any illness or injury, the insurer would pay upto a certain amount to the policyholder.
WOP on Criticare and ATPD
Waives all future premiums if a critical illness is diagnosed or in case of accidental total permanent disability, while keeping the policy active.
Accidental total and permanent disability rider
Pays a benefit if the insured suffers total and permanent disability due to an accident, offering financial support during loss of income.
Accidental Death Benefit
In case of death due to an accident, a lump sum payout is given on top of the base cover.
Super Retirement Benefit
Offers a maturity-style benefit where premiums paid can be returned at the end of the policy term. This is a paid add-on and available only under the Life Secure variant.
Exclusions in Maha Raksha Supreme Select
Conditions or treatments that the policy clearly says it will not cover.
Suicides are not covered in the first year.
Death due to intoxication.
If the nominee is involved in the death of the policyholder, that would not be covered.
The policyholder dies with respect to his involvement in criminal activity.
Death by suicide within the first policy year is not covered.
Disclaimer: For illustration purposes only - exact terms are in the policy wording.
Variants of Maha Raksha Supreme Select
Life Secure
Recommended
Offers a fixed death benefit payable upon the insured’s death within the policy term.
Life Secure Plus
Offers a death benefit during the policy term and returns 100% of premiums paid on survival till maturity (excluding extra charges and discounts).
What's missing in Maha Raksha Supreme Select
No Zero Cost Option
No option to increase your cover with inflation
No option to decrease your cover over time
No Special Exit Value
Reviews for Maha Raksha Supreme Select
A
Ashish Das
Picked Maha Raksha Supreme riders ka combo acha hai CI disability bhi and terminal illness cover se family ko peace mila Worth it ok till now
S
Soham Roy
Took Maha Raksha Supreme whole life cover makes long term planning easy and rider options are solid for CI and disability Good value In short
B
Bhuvan Malhotra
Went with Maha Raksha Supreme riders ka combo acha hai CI disability bhi and terminal illness cover se family ko peace mila Overall happy value
A
Aditi Biswas
Chose Maha Raksha Supreme terminal illness cover adds peace of mind but premium is a bit higher on some options Would recommend with care simple
A
Aparna Jain
Opted for Maha Raksha Supreme terminal illness cover adds real peace of mind and whole life cover makes long term planning easy Good value simple
Frequently Asked Questions
What is the TATA AIA Maha Raksha Supreme Select Plan?
What are the benefits of TATA AIA Maha Raksha Supreme Select Plan?
What are the various riders customers can opt for with TATA AIA Maha Raksha Supreme Select Plan?
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