Tata AIA Life Insurance Fortune Guarantee Pension

Tata AIA Life Insurance Fortune Guarantee Pension - A Non-Linked, Non-Participating, Life Insurance Annuity Plan that offers you regular guaranteed income* for life to help you manage your expenses post retirement.

Key Features

• Multiple annuity options to suit your needs
  • Immediate Life Annuity
  • Immediate Life Annuity with Return of Purchase Price
  • Deferred Life Annuity (GA-I) and with Return of Purchase Price
  • Deferred Life Annuity (GA-II) and with Return of Purchase Price
• High purchase price benefit to encourage you to save more
• Option to increase annuity through Top-up premiums
• Tax benefits# may be applicable on premiums paid and benefits received as per applicable tax laws

Key Benefits

Death Benefit

In case of death of the Life Assured during the Policy Term, provided the policy is in force, the Sum Assured on Death as defined below shall be payable.

The ‘Sum Assured on Death’ shall be the highest of the following

• Immediate Life Annuity Option: None. No death benefit is payable under this option.
• Immediate Life Annuity with Return of Purchase Price Option: 100% of the Total Premium Paid
• Deferred Life Annuity (Guaranteed Additions$ – I & II):
• Within Deferment Period: Death Benefit is Higher of: - 1. Total Premiums Paid up + Accrued Guaranteed Additions$; or 2. 105% of Total Premiums Paid
• Post Deferment Period: Death Benefit is Total Premiums Paid + Maximum of(Guaranteed Additions^$ - Total Annuity pay-outs, 0)

Where,

“Total Premiums Paid" means total of all the premiums received excluding any extra premiums, any rider^^ premiums and taxes.

“Guaranteed additions$ I” is 1/12th of the Yearly Annuity amount

“Guaranteed additions$ II” is 1/12th of 6% of Total Premiums Paid (excluding loading for modal premium)

 T&C*|T&C^$ Apply

Tax^# Benefit

Income Tax benefits may be available as per the Tax Laws, subject to fulfillment of conditions stipulated therein. Income Tax laws are subject to change from time to time. Tata AIA Life Insurance Company Ltd. does not assume responsibility on tax implication mentioned anywhere in this document. Please consult your own tax consultant to know the tax benefits available to you.

Free Look Period:

If you are not satisfied with the terms & conditions/ features of the policy, you have the right to cancel the policy by giving written notice to Tata AIA Life stating objections/reasons and receive all the premiums paid without interest after deducting (a) proportionate risk premium for the period of cover (b) medical examination costs, if any and (c) stamp duty, along with applicable taxes, cesses and levies which have been incurred for issuing the policy. Such notice should be signed by the policyholder and received directly by Tata AIA Life within 30 days after the policyholder receives the policy document Whether the policy is sourced electronically or otherwise.

Key Exclusion

In case of death due to suicide within 12 months from the date of commencement of risk under the policy or from the date of revival of policy, as applicable, the nominee or beneficiary of the policyholder shall be entitled to at least 80% of the total premiums paid till the date of death or the surrender value available as on the date of death whichever is higher, provided the policy is in force

Maturity Benefit

There is no maturity benefit in this plan.

Eligibility Criteria

Issue age

Minimum: 30 years

Maximum: 85 years for Immediate life annuity option and Immediate life annuity with return of purchase price option and 84 years for Deferred Life options (Guaranteed additions I & II)

Deferment Period

• Single Pay: 1 year to 10 years
• Regular Pay: equal to Premium Payment Term
• Limited Pay: equal to Premium Payment Term +1 to Premium Payment Term + 5

Premium Payment Term

• Single Pay
• Limited Pay/Regular Pay: 5 to 12 years

Payment Mode

Single/Annual/ Half-yearly/ Quarterly/ Monthly

Minimum Annuity Amount

• Yearly in arrears – Rs.12000
• Yearly in advance – Rs. 12000
• Half yearly in arrears – Rs. 6000
• Quarterly in arrears – Rs. 3000
• Monthly in arrears – Rs. 1000

The minimum annuity instalment provided above shall be complied in all policy years. The above minimum annuity amount shall be inclusive of annuity booster, if applicable.

Maximum Annuity Amount:

No limit, subject to insurer Board Approved Underwriting Policy

Disclaimer

• ^#Income Tax benefits would be available as per the prevailing income tax laws, subject to fulfillment of conditions stipulated therein. Income Tax laws are subject to change from time to time. Tata AIA Life Insurance Company Ltd. does not assume responsibility on tax implication mentioned anywhere in this document. Please consult your own tax consultant to know the tax benefits available to you
• For more details on risk factors, terms and conditions please read Sales Brochure carefully before concluding a sale.
• Product Option Immediate Life Annuity with Return of Purchase Price is available under PoS as well. 
• ^^Rider is not mandatory and is available for a nominal extra cost. For more details on benefits, premiums and exclusions under the Rider, please contact Tata AIA Life's Insurance Advisor/ branch.
• ^$Guaranteed Additions accrue at the end of each completed policy month, subject to all due premiums being paid and form a part of the Death Benefit offered under the option.
• ^*The word Guaranteed and Guarantee means the annuity payout is fixed at inception of the policy and will be payable for whole of life or till death of the Annuitant(s).
• This product is underwritten by Tata AIA Life Insurance Company Ltd. The plan is not a guaranteed issuance plan and it will be subject to company’s underwriting and acceptance. Insurance cover is available under this product.

DBS Bank India Limited (IRDA of India Registration Number: CA 0257) having the registered office at GF: Nos. 11 & 12, Capitol Point BKS Marg, Connaught Place, Delhi - 110001 is the Corporate Agent of Tata AIA Life Insurance Company Limited. DBS Bank India Limited (Bank) does not underwrite the risk or act as an insurer. Fortune Guarantee Pension (UIN: 110N161V10) is underwritten by Tata AIA Life Insurance Company Limited. The contract of insurance is between the insurer and the insured and not between the Bank and the insured. Bank does not give any warranty, as to the accuracy and completeness of the policies. Bank does not accept any liability or losses attributable to your contract of Insurance. Participation by the Bank’s customers in the insurance products is purely on a voluntary basis and is not linked to availment of any other facility from the bank. 

DBS Bank India Limited (IRDA of India Registration Number: CA 0257) having the registered office at GF: Nos. 11 & 12, Capitol Point BKS Marg, Connaught Place, Delhi - 110001 is the Corporate Agent of TATA AIA Life Insurance. DBS Bank India Limited (Bank) does not underwrite the risk or act as an insurer. The Insurance product is underwritten by TATA AIA Life Insurance Company Limited . The contract of insurance is between the insurer and the insured and not between the Bank and the insured. Bank does not give any warranty, as to the accuracy and completeness of the policies. Bank does not accept any liability or losses attributable to your contract of Insurance. Participation by the Bank’s customers in the insurance products is purely on a voluntary basis, and is not linked to availment of any other facility from the bank.

The contents and product information of this web site are given strictly for your convenience and is indicative in nature and ‘as is’ received from the Insurer. Nothing contained herein is to be construed as advice, recommendation, offer for a policy or any other assistance. Bank does not guarantee that this website reflects latest amendments/ information at all times or at any time. Bank shall have no liability to the customer for any loss or damage of any kind incurred for reliance on the content and product information available on this website.

DBS Bank India Limited does not underwrite the risk or act as an insurer. The Insurance products are offered and underwritten by respective insurance companies. The contract of insurance is between the insurer and the insured and not between the bank and the insured. Bank does not give any warranty, as to the accuracy and completeness of the policies. Bank does not accept any liability or losses attributable to your contract of Insurance. Customers are advised to take independent professional advice before participating. Insurance is a subject matter of solicitation.

Tata AIA Life Insurance Company Limited (IRDAI Regn. No.110) CIN: U66010MH2000PLC128403. Registered & Corporate Office: 14th Floor, Tower A, Peninsula Business Park, Senapati Bapat Marg, Lower Parel, Mumbai - 400013. Trade logo displayed above belongs to Tata Sons Ltd and AIA Group Ltd. and is used by Tata AIA Life Insurance Company Ltd under a license. For any information including cancellation, claims and complaints, please contact our Insurance Advisor / Intermediary or visit Tata AIA Life’s nearest branch office or call 1-860-266-9966 (local charges apply) or write to us at [email protected]. Visit us at: www.tataaia.com

L&C/Advt/2024/Oct/2890 (UIN: 110N161V10)

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