Tata AIA Life Insurance has introduced a student-focused term insurance solution under its Sampoorna Raksha Promise, designed to safeguard Indian families from the financial strain of education loan repayments.
The newly launched Student Debt Shield provides financial protection in the event of a student’s untimely death before completing their course, ensuring that families are not burdened with repaying outstanding education loans. The plan is available to students aged 18 to 25 who are enrolled in recognized educational programs in India or overseas.
Under the policy, students can receive life cover of up to ₹2 crore or the sanctioned education loan amount, whichever is lower. The coverage is available for a policy term of up to 10 years. Notably, the plan also extends protection to students who have not taken an education loan, offering life cover based on 50% of the parent’s insurance eligibility.
To apply, students must provide proof of admission, course fee details, and an education loan sanction letter where applicable. Families opting for coverage without a loan will need to submit parental income documents for eligibility assessment.
Commenting on the launch, Sanjay Arora, Chief of Operations at Tata AIA Life Insurance, said the initiative aims to help students focus on their academic goals while providing families with financial security against unforeseen events.
The Student Debt Shield forms part of Tata AIA’s broader Sampoorna Raksha Promise, which offers comprehensive life insurance coverage, flexible payout options, and rider benefits to support families during challenging times.
