Tata AIA’s ‘Student Debt Shield’ aims to guard Indian families from financial strain

Sampoorna Raksha plan covers education loans, offering life cover up to $216,448 for students aged 18 to 25.

Tata AIA Life Insurance has introduced a Student-Focused Term Insurance plan, as part of their Sampoorna Raksha Promise, to protect families from education loan repayments, the company said in a press release.

The policy ensures that families are not responsible for repaying a student’s education loan if the student dies before completing their course whilst also providing coverage even if no education loan has been taken, with life cover based on 50% of the parent’s insurance eligibility.

The plan is available for students aged 18 to 25 enrolled in recognised courses in India or abroad.

Maximum coverage is up to $216,448 (₹2 crore) or the sanctioned education loan amount, whichever is lower. Policy tenure can be up to 10 years.

“Our Student Protection Term Plan allows students to focus on their studies, while giving families financial security in case something unexpected happens," said Sanjay Arora, Chief of Operations at Tata AIA Life Insurance in the press release.

Applicants must provide proof of admission and fees, the full course fee schedule, and the education loan sanction letter if applicable.

Families without a loan must provide parents’ income proof to determine coverage.

The company said the plan is part of its Sampoorna Raksha Promise, which offers high coverage, flexible payout options, and rider benefits to support families financially.

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