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Tata AIA Life Insurance
Fortune Guarantee Plus
Non-Linked, Non-Participating, Individual Life Insurance Savings Plan (UIN: 110N158V06)
Tata AIA Life Insurance
Smart Value Income Plan
Individual, Non-Linked, Participating Life Insurance Savings Plan (UIN: 110N162V01)
The target amount is the amount of money that you will need to invest over a given period, in order to fulfil the various goals that you have planned out for the short term and the long term. For instance, if you have some goals in mind, like saving up for your child’s higher education and buying your dream home within the next ten years, the estimated amount of money that you will need to fulfil these goals is the corpus you need. To build that corpus, you will need to invest a particular amount -- called the target amount -- at a frequency that is convenient for you.
List out the goals that you have in mind for the short term and the long term
Assign a timeline to each of these goals
Financial planning is important because it helps you manage your finances and allows you to fulfil your long-term and short-term goals and obligations. With the right financial plan, you can not only fulfill those goals, but you can also save taxes^ along the way and invest in the products that can help you build a sizable corpus. A target amount calculator is a useful financial planning tool that lets you understand how much you need to save, in order to create a corpus of a specific size.
The target amount calculator can help you chart out a financial plan to meet your life goals. You can use the calculator free of charge online. It tells you how much you will need to invest, and the frequency at which you need to invest that amount, in order to get a specific sum of money after a given period. This, in turn, makes it easy for you to come up with an investment plan.
To make use of the target amount calculator online, simply enter the details needed, like the amount that you need to save up, and the period within which you need to do that. Then, based on the investment period, the frequency of investment, and the rate of interest assumed, the target amount calculator shows you how much you will need to invest periodically.
Please make your own independent decision after consulting your financial or other professional advisor.
~Available under Regular Income with an Inbuilt Critical Illness Benefit option
*Guaranteed 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.
^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 implications mentioned anywhere on this site. Please consult your own tax consultant to know the tax benefits available to you.
$Tax benefits of up to ₹46,800 u/s 80C is calculated at highest tax slab rate of 31.20% (including cess excluding surcharge) on life insurance premium paid of ₹1,50,000. Tax benefits under the policy are subject to conditions laid under Section 80C, 80D,10(10D), 115BAC and other applicable provisions of the Income Tax Act,1961. Good and Service tax and Cess, if any will be charged extra as per prevailing rates. The Tax-Free income is subject to conditions specified under section 10(10D) and other applicable provisions of the Income Tax Act,1961. Tax laws are subject to amendments made thereto from time to time. Please consult your tax advisor for details, before acting on above.
%Cash bonuses (if declared) will be paid out at the end of the chosen pay-out frequency.
#Only available with cash bonus option.
Insurance cover is available under the product.
The products are underwritten by Tata AIA Life Insurance Company Ltd.
The plans are not a guaranteed issuance plan and it will be subject to Company’s underwriting and acceptance.
For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale.
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.