Tata AIA Life Insurance Fortune Guarantee Plus Plan

At a Glance

Tata AIA Life Insurance Fortune Guarantee Plus - An Individual, Non-Linked, Non-Participating, Life Insurance Savings Plan that provides financial protection for your family and Guaranteed Regular Income1 that meets tomorrow's requirements, thus helping you plan towards your future needs and protection for your loved ones.

T &C¹ apply

Key Features

• Flexibility to choose Plan Option
  1. Regular Income or
  2. Regular Income with an inbuilt Critical Illness benefit
• Flexibility to choose Income Period from 20 to 45 years.
• Get return of premium² at the end of Income Period.
• Choice to receive Income – Monthly/Annually.
• Flexible Premium Payment Term – Single, Regular and Limited pay
• Option of Joint Life under Single Premium payment option
• Enhance your protection with optional Riders³
• Tax benefits as per applicable Tax Laws ^{^^}

Key Benefits

Death Benefit:

Death during policy term: In case of death of the life insured during the policy term for an in-force policy the death benefit payable to the claimant is as outlined below:

Highest of:

• 1.25 x Single Premium (excluding discount) or 10 x Annualised Premium (excluding discount);
• 105% of Total Premiums Paid (excluding loading for modal premiums and discount) up to date of death; or
• Basic Sum Assured

The death benefit during policy term shall be subject to a minimum of the Surrender Value on the date of death.

For single life policies, the policy will terminate upon the death of the insured during the policy term and no other benefit under the policy shall be payable.

For joint life policies, the policy will continue after first death after payment of the death benefit due, and the policy will terminate upon the Second Death during the policy term and no other benefit under the policy shall be payable.

Where,

“Total premium paid” means total of all the premium paid under the base product, excluding any extra premium and taxes, if collected separately Annualised Premium” shall be the premium payable in a year under a non-single pay option chosen by the policyholder, excluding the taxes, rider premiums, underwriting extra premiums, loading for modal premiums, if any.

“Single Premium” shall be the premium payable under a single pay option chosen by the policyholder, excluding taxes, rider premiums, underwriting extra premiums

“Basic Sum Assured” shall be equal to the Death Benefit Multiple (DBM) multiplied by the Annualised Premium / Single Premium (excluding discount).

Maturity Benefit:

Guaranteed1 Annual Income: Provided the policy is in force and all due premiums have been paid, the Guaranteed1 Annual Income shall commence after maturity till the end of the Income Period, irrespective of survival of the life insured(s) during the Income Period. The income shall be paid as per the chosen Income Frequency. T n C apply

“Guaranteed1 Annual Income” shall be a fixed percentage of the Annualised Premium / Single Premium (excluding discount) payable in a year. The Guaranteed Annual Income factor is derived as a sum of Base Income factor and a Large Premium Income Booster, if any

“Income Booster” is an additional Income benefit payout applicable under a non-single pay option to reward persisting policyholders over and above the Guaranteed Annual Income. Income Booster shall be defined as % of Annualised Premium (excluding discount).

“Guaranteed Maturity Benefit (GMB)” shall be % of Total Premiums Paid (excluding discount and excluding loading for modal premiums). Such ‘Guaranteed Maturity Benefit’ shall be payable at the end of Income period.

“Milestone Benefit” is an additional Lumpsum benefit payout applicable under a non-single pay option over and above the Guaranteed Maturity Benefit payable at the end of the Income Period. The Milestone benefit shall be defined as a % of Total Premiums Paid (excluding discounts and excluding loading for modal premiums)

Return of Premium Benefit ²: Shall be the sum of Guaranteed Maturity Benefit plus Milestone Benefit and shall be payable at the end of the Income Period irrespective of survival of the life insured(s) during the Income Period.

Eligibility

^#All reference to age is as on last birthday.

Disclaimer

• “Guaranteed Annual Income” shall be a fixed percentage of the Annualised Premium / Single Premium (excluding discount) payable in a year. Guaranteed Annual Income as per the chosen Income Frequency shall commence after maturity till the end of the Income Period, irrespective of survival of the life insured(s) during the Income Period.
• ¹Guaranteed Income shall be a fixed percentage of the Annualised Premium / Single Premium (excluding discount) payable in a year.
• This product is underwritten by Tata AIA Life Insurance Company Ltd.
• Insurance cover is available under this product.
• ²Tata AIA Life Insurance Non-Linked Comprehensive Protection Rider (UIN: 110B033V02 or any later version)
• Tata AIA Life Insurance Non-Linked Comprehensive Health Rider (UIN: 110B031V02 or any other later version)
• Riders are not mandatory and are 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/Intermediary/ branch.
• ^{^^}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 on this site. 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. The precise terms and condition of this plan are specified in the Policy Contract.
• Risk cover commences along with policy commencement for all lives, including minor lives.
• Buying a Life Insurance Policy is a long-term commitment. An early termination of the Policy usually involves high costs and the Surrender Value payable may be less than the all the Premiums Paid.
• In case of non-standard lives and on submission of non-standard age proof, extra premiums will be charged as per our underwriting guidelines.
• The plan is not a guaranteed issuance plan and it will be subject to Company’s underwriting and acceptance.
• All Premiums and interest payable under the policy are exclusive of the taxes, rider premiums, underwriting extra premiums, loading for modal premiums, if any which will be entirely borne/ paid by the Policyholder, in addition to the payment of such Premium or interest. Tata AIA Life shall have the right to claim, deduct, adjust and recover the amount of any applicable tax or imposition, levied by any statutory or administrative body, from the benefits payable under the Policy.
• ^&Return of Premium shall be the return of Total Premiums Paid (excluding loading for modal premiums, discount, any extra premium, rider premium and taxes) by the policyholder and shall be payable at the end of the Income Period irrespective of survival of the life insured(s) during the Income Period.
• Policies sourced through POS Channel will not have any medical examination.
• For policies purchased from POS channel, riders would not be available

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

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 Plus (UIN: 110N158V13) 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.

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. ISNP registration valid.

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.

L&C/Advt/2024/Oct/2897

UIN: 110N158V13

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