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Life Insurance Benefits
While you embark on a journey towards financial planning,Life Insurance should be one of the most critical components of the plan. The incredible benefits of life insurance can empower your financial journey by securing your loved ones in your absence.
Beyond its primary purpose of safeguarding your loved ones, life insurance plans provide a range of benefits tailor-made to suit your unique financial needs.
From providing financial protection to your family to accomplishing your future financial goals and retirement planning, life insurance benefits can embrace you with the right steps for a financially independent life. So, here is everything you need to know about the benefits of life insurance policy options.
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What is Life Insurance?
Life insurance is a financial product based on an agreement between a life insurance provider and a policyholder, wherein the life insurance provider will agree to pay a death benefit to the policyholder’s nominee in the event of their unexpected demise during the policy term. The life insurance benefit is provided in return for the premiums paid by the policyholder.
Different types of life insurance plans also provide a maturity benefit in addition to the life cover. For instance, the maturity benefit can be a savings benefit in savings insurance plans and an investment benefit in wealth creation plans.
You can utilise the life insurance death benefit to secure your family in your absence and the maturity benefits to planning your future financial goals. Therefore, the benefits of life insurance plans can be deployed in your life in many ways.
Let us delve into these life insurance benefits in detail.
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Benefits of Life Insurance
Financial Security
If you are the sole earning member of your family, or your family is dependent on your income to any extent, you should ensure that they are financially secure in your absence. A life insurance policy can provide a lump sum death benefit to your nominee in case of your unexpected death during the policy term.
The benefits of a life insurance policy can help your family clear off debts, pay their routine expenses, plan for their future financial goals, etc., and reduce their burden.
Maturity Benefit
There are different life insurance plans, such as term insurance, savings insurance, wealth creation insurance, etc., for varied individual financial requirements.
While term insurance is a pure protection plan that provides a huge sum assured at an affordable premium, savings insurance and wealth creation plans offer the option to save and invest funds for the future for the maturity benefit in addition to the life cover.
Take Calculated Financial Decisions
The sum assured is the amount payable to you or your nominee based on the occurrence of the insured events, death, or policy maturity.
As the benefits of a life insurance policy, sum assured on death or maturity, or both are guaranteed and decided during policy inception, you can calculate the financial requirements based on your current expenses, income, financial goals, liabilities, etc., to satisfy your family.
You can use our Tata AIA Life Insurance Human Life Value Calculator to determine the sum assured based on these factors in a simple, less time-consuming process.
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Add-on Rider Benefits of Life Insurance
While life insurance plans predominantly provide life cover and savings or investment benefits, the sum assured can be enhanced by including riders^.
Riders in life insurance are add-on options that provide additional financial benefits in specific scenarios during the policy tenure. For example, the rider for the critical illness benefit provides the specific sum assured to pay for the hospitalisation expenses when you are diagnosed with a critical illness, and the rider for total or permanent disability will waive off future premiums if you are affected due to a disability in an accident, etc.
Although the rider benefit is available at an additional cost, it is worth the expense considering the financial emergencies.
Customisation
When you have calculated the required sum assured, you can customise the life insurance policy based on your affordability and convenience to stay insured for the long term.
Choose the premium payment method - You can pay the premium regularly throughout the policy term or for a limited term based on your affordability. In addition, you can choose to make a one-time full payment. Furthermore, if you have decided to pay the premium regularly, you can decide between monthly, quarterly, half-yearly, or annual payments.
Choose the payout option - You can decide between the lump sum, regular income, or the combination of both as the payout option for the death or the maturity benefit, as applicable.
Choose the policy tenure - You can decide on the policy tenure based on your family’s financial commitments and affordability. The longer you stay insured, the better and higher the life insurance benefits.
Retirement
While life insurance plans are primarily purchased for the family’s financial security in your absence, they can be used to plan for your retirement. You can purchase savings insurance plans for the guaranteed maturity benefit with the regular income payout option to receive a regular income after retirement.
Furthermore, you can choose to purchase our pension plans with a one-time single payment to park your retirement corpus for the immediate or the deferred annuity.
Save for your future financial goals
Starting a new business, going on a sabbatical from work, paying the down payment for your dream house, etc., can be some of your long-planned future financial goals. With savings insurance plans, you can plan and save funds for such financial goals based on the desired time frame and affordability.
Invest for your future
With wealth creation insurance plans such as the Unit Linked Insurance Plan (ULIP Plan), you can invest in financial securities based on your risk profile for capital appreciation.
Save on tax
The premiums paid for life insurance plans will qualify for a tax deduction benefit of up to 1.5 lakhs under Section 80C, and the payout received as a death benefit or maturity benefit will qualify for the tax exemption under Section 10(10D) of the Income Tax Act 1961.
Affordability
Life insurance plans are affordable considering the wide range of benefits offered in the varied life insurance policies as against purchasing financial products for individual purposes separately.
In addition, if you purchase a life insurance policy at a younger age, when you are healthy, you can benefit from paying lesser premiums as the risk coverage is less compared to older individuals.
Furthermore, at a younger age, you can choose a longer policy tenure to reduce the premium further and make it affordable to pay the premium throughout the policy tenure.
You can utilise our online tools, such as the Tata AIA Life Insurance Term Insurance Calculator, to determine the affordable premium for your life insurance policy.
How can you Benefit from Different Types of Life Insurance Plans?
Term Insurance
Term insurance is a pure protection plan that offers a sum assured as the death benefit to your nominee in the event of your unexpected death during the policy term. You can also purchase the permanent or the whole life insurance policy to ensure the life insurance benefits until 100 years of age.
Benefits Of a Term Insurance Plan
A higher sum assured for the premium as compared to other life insurance policies
Affordable premium
While there are no maturity benefits, you can choose the return of premium option to receive the premium paid as a maturity benefit if you survive the policy tenure.
Increase the sum assured at different milestones in your life based on changing financial demands
Add riders^ to enhance the sum assured
Flexible premium payment and payout options
Tata AIA
Sampoorna Raksha Supreme
A Non-Linked Non-Participating Individual Life Insurance Plan (UIN:110N160V03)
Savings Insurance Plans
The savings insurance plans are designed to provide life cover to secure your family during the policy tenure and offer options to save funds for guaranteed returns as the maturity benefit.
Benefits of a savings insurance plan
Dual benefit, life cover and guaranteed returns
As the returns are guaranteed, you can decide on the required funds based on your financial goals and save them for the future.
Flexible premium payment and payout options
Options to choose a longer policy tenure for long-term savings benefit
Tata AIA
Fortune Guarantee Plus
Non-Linked, Non-Participating, Individual Life Insurance Savings Plan (UIN: 110N158V10)
@T&C apply
Unit Linked Insurance Plans (ULIP Plan)
The ULIP plans provide life cover for the policy tenure and offer options to invest funds in financial securities for the maturity benefit. It has a five-year lock-in period.
Benefits of ULIP Plans
Dual benefit, life cover, and market-linked returns
Options to invest in financial securities based on your risk profile, such as in the equity, hybrid, or debt funds
Options to switch between the fund options based on the prevailing economic conditions
Partial withdrawals applicable after the five-year lock-in period
Flexible premium payment and payout options
Enhance the sum assured with add-on riders^
Options to choose a longer policy tenure for long-term savings benefit
In this policy, the investment risk in investment portfolio is borne by the policyholder.
Tata AIA
Fortune Pro
Unit Linked Individual Life Insurance Savings Plan (UIN:110L112V04)
Retirement plans
Retirement plans have the option to save funds for the long term, ensuring to provide the same as a regular monthly income for your life after retirement.
Benefits of retirement plans
Pension plans with the life cover benefit
Guaranteed returns for regular income for life after retirement
Annuity plans with immediate and deferred annuity solutions
Flexible premium payment and payout options
Enhance the sum assured with add-on riders^
Tata AIA
Fortune Guarantee Pension Plan
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.
Multiple Options Are Available in This Plan
A Non-Linked, Non-Participating, Annuity Plan (UIN:110N161V07)
2T&C apply
How can Life Insurance Plans help Finance your needs?
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Help accomplish your financial goals
Life insurance benefits can help you accomplish your future financial goals. For example, if you want to start a business after ten years, you must plan for it. The major considerations include your dependent family’s financial security, a lump sum for starting the business, and a regular income until your business stabilises.
With our Tata AIA Savings Plan, you can calculate the required funds based on your business plan and save funds for the same during the desired time frame, the policy tenure.
While you save funds, your family is financially secure with the life cover. Furthermore, you can receive the guaranteed maturity benefit as a combination of a lump sum and regular income. The lump sum can be used to start the business, and the regular income for a defined period can be utilised to manage the routine financial expenses until the business stabilises.
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Retirement planning
While planning for retirement, you tend to choose financial products that help you save funds for your retirement and offer a regular income as the pension for your life post-retirement. However, in the process of accumulating funds for retirement, you may not consider or be able to afford to purchase a life insurance plan to secure your family in the event of your unexpected demise.
With our Tata AIA Life Insurance Retirement Solutions, you can satisfy both the life insurance benefits and the pension requirements in a single policy. Furthermore, you can customise it based on your financial requirements over the long term, such as choosing the premium payment and payout options.
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Wealth creation
If you have immense family financial responsibilities, your priority in financial planning will be to purchase a life cover to secure your family in your absence. However, investing for wealth creation is certainly equally important for you to manage your personal financial goals.
Due to increased financial responsibilities, affording two different financial products can be difficult if you are the sole earning member. With our Tata AIA Life Insurance Wealth Creation Insurance Plans, you can secure your family with the death benefit while investing for your future with market-linked returns based on your risk profile and affordability.
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Protection against critical illnesses
With the changing lifestyle practices and unhealthy habits, developing a critical illness can be a very common scenario in the current fast-paced global world. Also, soaring medical and hospitalisation costs make managing a financial emergency difficult.
With the add-on rider options, you can enhance the benefits of life insurance policy options to increase the financial benefit of paying for such expenses during the policy tenure.
For example, suppose you are diagnosed with cancer during the policy tenure. In that case, if you had purchased the rider for the critical illness benefit with the regular income option, you can utilise it to pay for the regular chemotherapy sessions.
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How can you maximise Life Insurance Benefits?
While life insurance plans offer a range of benefits, you can further maximise the benefits by taking a few important steps, as detailed below:
Purchase life insurance early in life
At a younger age, you will have a healthier body, reducing the risk of developing a disease or death. Therefore, you can purchase life insurance with a higher sum assured at a lower premium compared to purchasing it when you get older. - Also, at a younger age, you will have reduced financial responsibilities allowing you to invest more and develop the habit of continuing it regularly throughout the policy tenure.
Choose a longer policy tenure
When you choose a longer policy tenure, you can stay insured for a long time for the benefits of life insurance and pay lesser premiums as the risk is spread over the long term.
Maximise savings and investment benefits
Compare and purchase the different types of life insurance plans that provide savings or investment benefits, or both the benefits as in the Tata AIA Life Insurance Combo Plans apart from the life cover to enhance the financial benefits.
Include riders
As riders^ enhance life insurance benefits and financial protection during the policy term, you can compare the available riders and choose the appropriate options. For instance, the rider for the critical illness benefit will provide a lump sum to pay for your medical expenses if you are diagnosed with a critical illness during the policy term.
Further, the rider for the waiver of premium benefit will waive off future premiums if you are affected due to a total or permanent disability due to an accident.
Health and wellness benefits
At Tata AIA, we offer life insurance plans that help maximise the benefits apart from financial support. For instance, our Tata AIA Life Insurance SRS Vitality Product (products have in-built Wellness Program with which you can earn rewards based on your wellness status tracked on the Vitality App.
It will encourage you to work on your fitness, get rewarded for achieving the set targets, and avail yourself of a free annual health check-up that ensures you are on the right track.
Further, with our Tata AIA Life Insurance Fortune Guarantee Plus, you can get instant online medical consultations for more than 23+ specialities. The 24x7 doctor availability and the instant and consistent network support reduce the need to visit the doctors.
Tata AIA SRS Vitality Protect is a term solution which includes Tata AIA Life Insurance Sampoorna Raksha Supreme, a non-linked, non-participating, individual life insurance plan (UIN: 110N160V03) and Tata AIA Vitality Protect, a non-linked, non-participating, individual health rider (UIN: 110B046V01)
Why is purchasing Life Insurance Important?
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Family’s financial security
When making a financial plan for your life, your focus predominantly lies on purchasing savings and investment plans for better returns. However, if you are the sole breadwinner for your family or contribute to your family financially to any extent, your family’s financial security should be of prime importance.
It will ensure your family can manage their routine expenses and future financial commitments in your absence. Moreover, you can increase your savings or wealth in addition to the life cover by purchasing savings insurance or wealth creation life insurance plans.
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Guaranteed benefits
Life insurance plans provide guaranteed death benefits or maturity benefits based on the occurrence of the insured events, subject to the policy conditions. As life insurance benefits are guaranteed, you can make a calculated decision on the financial requirements considering your income, lifestyle, expenses, future financial commitments, loans and liabilities to make a well-informed decision and invest better.
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Peace of mind
As your family’s financial commitments and your responsibilities increase, you will be perplexed about how your family can manage their life without your income. And thoughts in this regard can keep you depressed.
You can lead a peaceful life with life insurance benefits until death or when your family becomes independent.
Factors to consider while purchasing a Life Insurance Plan
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![Cost-effective/affordable - Why Purchase Term Insurance Plans Online?]( "Cost-effective/affordable - Why Purchase Term Insurance Plans Online?")
Financial Requirements
Financial requirements are among the most important factors to consider for purchasing a life insurance policy. You must consider your personal financial goals and your family’s financial commitments to determine the funds required for the death or maturity benefits.
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![Enhance Term Insurance coverage with Rider Benefits]( "Enhance Term Insurance coverage with Rider Benefits - Buy Tata AIA Term Insurance Plans Online")
Inflation
While considering the financial requirements, you need to account for the inflation rate as the funds required to accomplish an objective now will undoubtedly increase by a factor to fulfil it later in your life.
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![Mobile SMS Icon]( "Conveniently Buy Term Insurance on mobile - Buy Tata AIA Term Insurance Plans Online")
Age
Age is crucial in determining your life insurance plan's policy period and the sum assured. Based on your age and health condition, you can decide on the required sum assured and the policy period based on the years to retirement or until you or your family become financially independent.
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Affordability
Include link While purchasing a life insurance plan with an adequate sum assured, you need to find out if paying the premium for the entire policy period is affordable. You can utilise our online tools, such as the Tata AIA Life Insurance Term Insurance Premium Calculator, to customise and decide on a life insurance policy based on your requirements and affordability.
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![Compare Icon]( "Online Term Insurance Calculators - Compare Term Insurance Plan Online Easily")
Life insurance benefits and flexible features
Financial requirements cannot be fixed for the long term. Further, affordability is different for everyone. Therefore, while purchasing a life insurance policy, you must ensure it has flexible features to customise it per your financial needs.
For instance, our Tata AIA Life Insurance plans provide flexible premium payment options such as the regular premium payment, single premium payment, or limited premium payment and payout options such as the lump sum, regular income, or a combination of both.
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![Reliability - Hand shake Icon symbol]( "Directly purchase the Term Insurance plan Online from the insurance provider’s official website")
Long policy tenure
In a financial product, the longer you stay invested or insured, the better and higher the benefits. Therefore, you prefer a life insurance plan where you can choose a long policy period to secure your family during the long policy tenure and accumulate better savings and investment benefits.
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![Easy Access Anytime - Lock Key Icon]( "Get Easy Access to Term Insurance Policy by Log on to the website to access your policy document")
Add-on rider options
While purchasing a life insurance policy, compare the available add-on rider options and select suitable riders^ based on your requirements to enhance the sum assured. It will provide the additional financial benefit to manage unexpected scenarios such as a medical emergency during the policy period.
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![Credit and Debit Card Access]( "Facility to pay the premium of term insurance plan via multiple secure payment options | Tata AIA")
Digital services and claim settlement process
With the advancement in technology, it is imperative to have a simple and less time-consuming process online for the purchase and claim settlement.
It will help you compare the different policies and benefits of life insurance policy options to choose the best policy. In addition, you can go through a hassle-free claim settlement process for immediate responses and timely fund disbursement.
How to purchase a Life Insurance Policy?
With advanced technology and the urge to provide convenient digital services, we have introduced the options to compare and purchase many of our life insurance plans online.
Here are a few steps in this direction.
Visit our Tata AIA Life Insurance Page.
Browse through the 'Where Do I?’ option.
Choose the ' Buy Online ' option from the list of available options.
You can view a list of all the applicable products you can purchase online.
You can choose the appropriate option if you have decided on the product.
Provide the necessary details and choose the flexible features and the add-on riders^.
Decide on the sum assured, premium payment mode, policy tenure, etc., to determine if it is affordable for the long term.
If you find it affordable, you can go ahead and purchase the life insurance plan. And suppose you feel it is not affordable. In that case, you can revise the inputs, such as choosing a longer policy tenure, reducing the sum assured, etc., to make it affordable and further purchase the policy.
You can utilise our online tools, such as Compare Term Insurance, to compare the benefits of life insurance policy options and Tata AIA Life Insurance Calculators to determine the features of an affordable life insurance policy for your needs.
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Frequently Asked Questions About Life Insurance Benefits
What are the living benefits of life insurance?
The living benefits of life insurance plans are as follows:
Add-on rider options - Add-on rider options provide additional financial support to manage a financial crisis during specific scenarios during the policy period. For example, the rider for the critical or terminal illness benefit provides the applicable sum assured to manage the hospitalisation and medical expenses if you are diagnosed with a critical illness or a terminal illness during the policy term.
Cash value - A part of the premium paid for permanent life insurance plans will be accumulated as a cash value, and interest is earned on the same. It can be used to avail of loans or withdrawn during a financial emergency subject to the policy conditions.
Return of premium option - You can avail of the return of premium option to receive the premium paid during the policy tenure as a maturity benefit if you survive the policy period.
Savings and investment benefit - With savings insurance and wealth creation plans, you can utilise a portion of your premium to save and increase your wealth and receive it as a maturity benefit.
How can a life insurance policy benefit my family?
The benefits of life insurance for your family can be listed as follows:
Provide a lump sum to manage their financial commitments in your absence.
If you have chosen the regular income payout, it can help them manage their routine expenses.
The life insurance benefits can help them reduce their financial burden by clearing debts, loans, and other liabilities.
Choosing the appropriate riders^ can help them avoid contacting other sources for finances to manage a financial crisis, such as paying for the hospitalisation expenses if you, the family's sole earning member, are diagnosed with a critical illness during the policy term.
With the savings and investment benefits, you can accumulate funds for accomplishing your family’s future financial goals, such as starting a family business, paying for your child’s marriage, etc.
Will I get any returns at the time of life insurance maturity?
Life insurance plans are predominantly purchased for the death benefit. However, they provide a maturity benefit based on the type of life insurance plan purchased. For example, term insurance with the return of premium option provides the option to receive the premium paid as a maturity benefit.
Furthermore, savings insurance plans and wealth creation insurance plans provide guaranteed returns and market-linked returns as the maturity benefit subject to the policy terms and conditions.
What happens if I don’t pay the premium for my life insurance plan on time?
If you do not pay your premiums for the life insurance plan on time, your life insurance plan expires and ceases to provide the life insurance benefits.
However, you will get a 30 days grace period to pay the premium for the policy. And if you fail to pay the premium even during this period, your life insurance plan will lapse.
Further, your life insurance provider will offer a revival period post the grace period to reinstate the insurance policy. And if you fail to revive it during this period, the life insurance plan is considered completely lapsed and terminated.
Which is a better option - Term Life Insurance or Whole Life Insurance?
Term life insurance plan provides a life cover to secure your family for a specific policy period. On the other hand, a whole life insurance plan will provide life cover until death. The better among the two will depend on your personal and family financial commitments.
You can choose term insurance if you have a family to take care of all the financial responsibilities after a specific timeframe. And if you have a dependent family throughout your life, whole life insurance is a suitable option.
Is life insurance a good investment tool?
Life insurance is a good investment tool as it is devised to provide financial protection to your loved ones in your absence.
Furthermore, if you purchase the Unit Linked Insurance Plan (ULIP Plan), you can ensure to secure your family with a life cover while also investing funds in the financial market for market-linked returns as the maturity benefit based on your risk profile.
How many riders^ can I purchase for my life insurance policy?
No restriction is defined on the number of riders^ that can be purchased with a life insurance policy.
What are the various life insurance options?
The various life insurance options are:
Term Insurance Plans
Savings Insurance Plans
Unit Linked Insurance Plans
Retirement Plans
Combo Plans
For how long can I purchase a life insurance plan?
No restriction is defined on the number of policy years for a life insurance plan. You can purchase it for a definite period or until 100 years of age.
Can I purchase riders^ without a base life insurance policy?
Riders^ cannot be purchased independently. It can be purchased as an add-on option with a base life insurance policy.
How much life insurance will I need?
The sum assured required in life insurance will depend on your financial requirements. You can consider your income, expenses, future financial commitments, loans, and liabilities to decide on the required funds.
Here are a few steps for a better understanding:
Find the required future earnings - It is based on income and years to retirement.
Find current annual expenses and future financial goals - You must account for the inflation rate while determining this cash flow projection. Therefore, find the present value for these future cash flows by using current interest rates for discounting.
Find the financial loans and liabilities - Add it to the above-calculated value.
Consider your savings and investments - If you have a life cover or have been saving or investing in varied financial products, subtract the total value from the value calculated above.
Determine the sum assured - The total amount calculated from adding the current expenses, future financial goals, loans, and liabilities and subtracting the savings and investments from this value, as described in the previous steps, will give the approximate value for the sum assured required.
You can utilise our Tata AIA Life Insurance Human Life Value Calculator to determine the sum assured and simplify the process.
Are life insurance benefits subject to taxation?
The life insurance benefits such as the death benefit, the rider benefit, or maturity benefit are exempt from taxation under Section 10(10D) of the Income Tax Act 1961 if the premium is less than 10% of the sum assured for life insurance policies issued after 1st April 2012 and 20% for those purchased before 1st April 2012.
What is covered in life insurance?
Life insurance coverage is based on the type of policy chosen.
Pure protection plan covers the policyholder's death due to natural reasons such as ageing, illness, and accident. It does not cover death due to the influence of alcohol or drugs, pre-existing illness not disclosed during policy inception, suicide within 12 months of the policy tenure, or committing a crime.
Life insurance with savings and investment benefits covers the maturity benefits.
Life insurance with riders^ covers specific illnesses and conditions, such as critical illnesses, total and permanent disability due to an accident, etc.
How is the life insurance premium calculated?
The life insurance premium is calculated based on the following factors:
Type of life insurance plan
Age
Gender
Lifestyle
Life insurance benefits, policy options, and riders^ chosen
Sum assured required
Policy period
You can choose our online tools, such as the Tata AIA Life Insurance Term Insurance Calculator, to determine the premium for your life insurance plan based on your requirement and desired features.
How to choose the best life insurance policy?
Here are a few steps to help you choose the best life insurance policy:
Analyse your financial needs and decide on the sum assured required.
Analyse your current financial condition and decide on the extent of premium you can afford to pay regularly.
Compare the life insurance providers based on their products, processes, digital services, and claim settlement ratio to choose the best life insurance provider.
Understand the different features, add-on riders^ and benefits of life insurance policy options.
Research the flexible features, rider options, sum assured, policy term, etc., based on your affordability.
Compare the options, try to customise, and choose the best life insurance policy to suit your financial needs.
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Disclaimers
The complete name of Tata AIA Sampoorna Raksha Supreme is Tata AIA Life Insurance Sampoorna Raksha Supreme (UIN:110N160V03) - A Non-Linked Non-Participating Individual Life Insurance Plan
The complete name of Tata AIA Fortune Guarantee Plus is Tata AIA Life Insurance Fortune Guarantee Plus (UIN: 110N158V10) - Non-Linked, Non-Participating, Individual Life Insurance Savings Plan.
The complete name of Tata AIA Fortune Guarantee Pension Plan is Tata AIA Life Insurance Fortune Guarantee Pension Plan (UIN:110N161V07) - A Non-Linked Non-Participating Individual Life Insurance Plan
The complete name of Tata AIA Fortune Pro is Tata AIA Life Insurance Fortune Pro (UIN: 110L112V04) - Unit Linked Individual Life Insurance Savings Plan.
^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.
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.
For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale.
*Applicable for specific plan options. Please refer brochure for additional details.
~Applicable for specific plan options. Please refer brochure for additional details.
#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.
+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.
@“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.
**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.
1Market-linked returns are subject to market risks and terms & conditions of the product. The assumed rate of returns or illustrated amount may not be guaranteed and depends on market fluctuations.
++5 year computed NAV for Multi Cap Fund as of September 2022. Other funds are also available in Tata AIA Life Insurance Fortune Pro.
$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).
##72,34,092 families protected till 31st March 2023.
~~Applicable to only non-early claims with more than 3 years of policy duration, non-investigation cases, up to Sum Assured of Rs. 50 Lakh. Applicable for branch walk in. Time limit to submit claim to Tata AIA Life Insurance is 2 pm on working days. Subject to submission of complete documents. Not applicable for ULIP policies and open title claims.
The fund is managed by Tata AIA Life Insurance Company Ltd. 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.
Past performance is not indicative of future performance. Returns are calculated on an absolute basis for a period of less than (or equal to) a year, with reinvestment of dividends (if any).
Investments are subject to market risks. The Company does not guarantee any assured returns. The investment income and price may go down as well as up depending on several factors influencing the market.
Please make your own independent decision after consulting your financial or other professional advisor.
Tata AIA Life Insurance Company Limited is only the name of the Insurance Company & Tata AIA Life Insurance Fortune Pro is only the name of the Unit Linked Life Insurance contract and does not in any way indicate the quality of the contract, its future prospects or returns.
Unit Linked Life Insurance products are different from the traditional insurance products and are subject to the risk factors. Please know the associated risks and the applicable charges, from your Insurance Agent or Intermediary or Policy Document issued by the Insurance Company.
Various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these plans, their future prospects and returns. The underlying Fund's NAV will be affected by interest rates and the performance of the underlying stocks.
The performance of the managed portfolios and funds is not guaranteed, and the value may increase or decrease in accordance with the future experience of the managed portfolios and funds.
Premium paid in the Unit Linked Life Insurance Policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the Insured is responsible for his/her decisions.
Please know the associated risks and the applicable charges, from your insurance agent or the Intermediary or policy document issued by the Insurance Company.
IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER. THE LINKED INSURANCE PRODUCT DO NOT OFFER ANY LIQUIDITY DURING THE FIRST FIVE YEARS OF THE CONTRACT. THE POLICY HOLDER WILL NOT BE ABLE TO SURRENDER/WITHDRAW THE MONIES INVESTED IN LINKED INSURANCE PRODUCTS COMPLETELY OR PARTIALLY TILL THE END OF THE FIFTH YEAR
L&C/Advt/2023/Jul/2401
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