Call Us

FOR EXISTING POLICY

Have query on premium, payout or any servicing need?

Call us:

1 860 266 9966

Monday - Saturday | 10 am - 7 pm IST

Call charges apply

Dedicated NRI Helpdesk:

+91 22 6251 9966

Monday - Saturday | 10 am - 7 pm IST

Call charges apply

FOR NEW POLICY

Want to buy a new policy online?

Call us:

+91 22 6984 9300

Give missed call for a call back:

+91 11 6615 8748

Monday - Sunday | 8 am - 11 pm IST


Exclusively for NRIs:

Call us:

Give missed call for a call back:

+91 11 4473 0242

Monday – Sunday | 9 am – 9 pm IST

Language

A Non-Linked, Non-Participating, Annuity Plan (UIN:110N161V08)

A Non-Linked, Non-Participating, Annuity Plan (UIN:110N161V08)


A no-tension
pension plan that guarantees golden years.

A no-tension pension plan that guarantees golden years.

Tata AIA
Fortune Guarantee Pension


Plan a dream retirement and make it true with a Guaranteed$ Pension Plan to save regularly and secure a lifetime of financial security to enjoy your golden years.


Tata AIA
Fortune Guarantee Pension


Plan a dream retirement and make it true with a Guaranteed$ Pension Plan to save regularly and secure a lifetime of financial security to enjoy your golden years.

Get lifelong guaranteed$ income

Get lifelong guaranteed$ income

Cover your spouse too under the same plan

Cover your spouse too under the same plan

Save taxes as much as Rs. 46,800+

Save taxes as much as Rs. 46,800+

$T&C apply

$T&C apply

Plan Guaranteed$ Lifelong Income for your 2nd  innings

Plan Guaranteed$ Lifelong Income for your 2nd innings

+91

    TATA AIA Life Insurance Co. Ltd will send you updates on your policy, new products & services, insurance solutions or related information. Select here to opt-in.


    Plan Snapshot

    Personalise your plan as per your priorities.

    • Multiple Annuity Options 

      Immediate | Deferred

    • Return of Purchase
      Price
      %

    • Get income as per need 

      Monthly/Quarterly/Half Yearly/Annual

    • Joint Life Coverage 

      Option to cover spouse too under the same plan

    • Increase income by topping up premium
       
    • Get loan against the policy
    Need advice on a new plan?
    Let our experts get back to you.
     

    +91


    TATA AIA Life Insurance Co. Ltd will send you updates on your policy, new products & services, insurance solutions or related information. Select here to opt-in.

    There was some error in submitting details please try again

    Looking to buy a new insurance plan? 

    Our experts are happy to help you!

    +91

    TATA AIA Life Insurance Co. Ltd will send you updates on your policy, new products & services, insurance solutions or related information. Select here to opt-in

    Benefits of Tata AIA Fortune Guarantee Pension Plan – An Annuity Plan

    Choice of Annuity Options

    Choice of Annuity Options

    You can choose from varied and flexible options like immediate annuity, deferred annuity, options with return of purchase price and Single Life, or Joint Life.

    Death Benefit

    Death Benefit

    In case of your untimely demise during the policy term, the death benefit is paid out to the nominee in case of the annuitant's death in Single Life option or on the second annuitant’s death in the Joint Life option. 

    Guaranteed* Additions

    Guaranteed* Additions

    The Guaranteed* Additions are accumulated at the end of every policy month during the Deferment Period of Plan option 3 and 4, provided all due premiums are paid. They become part of the death benefit. These additions cannot accrue if the policy lapses or becomes a Reduced Paid-Up policy. *T&C apply

    Loan against the Policy

    Loan against the Policy

    The annuitant can get a loan on the policy, six months after the policy’s commencement but not on Immediate Life Annuity. Under Joint Life, the primary annuitant can take a loan which the secondary annuitant can avail in case of the primary annuitant’s death.

    Highlights of the Plan

    • Multiple Annuity Options
    • Choice of Higher Purchase Price

      Avail higher annuity amount by choosing higher Purchase price/premium.

    • Availability of Top-Up Premium

      Choose to increase your annuity amount by paying top-up premiums.

    • Joint Life Option

      Option to cover two lives where the secondary annuitant is entitled to receive the Annuity Payouts in case of unfortune death of the primary annuitant. 

    • Multiple Options Are Available in This 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.

    • Get Tax Benefits

      You can avail tax benefits# as per applicable income tax laws. These benefits are subject to the policy terms and conditions.

    How does the Tata AIA Fortune Guarantee Pension Plan Work?


    To understand how the Tata AIA Fortune Guarantee Pension Plan works, you may refer to the steps given below - 

    Step 1 - Choose the Purchase Price or Policy Premium to buy the annuity.

     

     

    Minimum

    Maximum

    Purchase Price

     

    Corresponding to minimum annuity amount below

    As per maximum annuity chosen

    Annuity Amount (₹)

     

    • Yearly in arrears:

    ₹12,000

    • Yearly in advance:

    ₹12,000

    • Half Yearly in arrears:

    ₹6,000

    • Quarterly in arrears:

    ₹3,000

    • Monthly in arrears:

    ₹1,000

     

    No limit - subject to Underwriting Policy approved by the Board

    Premium Payment Term 

    Single Pay

    1 year

    Regular/Limited Pay

    5 years

    12 years

    Deferment Period

    Single Pay

    1 year

    10 years

    Regular Pay

    Equal to Premium Payment Term

    Limited Pay

    Premium Payment
    Term + 1 year

    Premium Payment
    Term + 5 years

    Step 2 - Choose your Plan Option from the plan options available.

    1. Immediate Life Annuity

    2. Immediate Life Annuity with Return of Purchase Price

    3. Deferred Life Annuity (GA-I) and with Return of Purchase Price

    4. Deferred Life Annuity (GA-II) and with Return of Purchase Price

    Step 3 - Receive Annuity Payouts as per the chosen Payout Mode.

    Mode

    Annuity Instalment (per mode selected)

    Yearly in arrears

    Yearly Annuity

    Half-yearly in arrears

    98% of Yearly Annuity x ½

    Quarterly in arrears

    97% of Yearly Annuity x ¼

    Monthly in arrears

    96% of Yearly Annuity x 1⁄12

    Annually in advance

    93% of Yearly Annuity

    Understanding the Death and Annuity Payout in the Plan

    Death Benefits

    Depending on whether you have selected the Single Life option or the Joint Life option, the death benefit is paid either on the death of the annuitant (Single life) or on the death of the secondary annuitant (Joint life). The nominee can choose to receive the death benefit as a lump sum payout or allow us to purchase an Immediate Annuity for them.

     

    Plan Option

    Death Benefit

    Option 1 - Immediate Life Annuity

    No death benefit is payable

    Option 2 - Immediate Life Annuity with Return of Purchase Price

    Total Premiums Paid till date

    Option 3 and 4 - Deferred Life Annuity (GA-I) and with Return of Purchase Price and Deferred Life Annuity (GA-II) and with Return of Purchase Price.

    Within Deferment Period:

    • Death Benefit is higher of –

    • Total Premiums Paid (excluding loading for modal premiums

    up to date of death + Accrued Guaranteed* Additions

    • 105% of Total Premiums Paid (excluding loading for modal premiums) up to date of death.

    Post Deferment Period:

    Death Benefit is Total Premiums Paid (excluding loading for modal premiums) up to date of death + Max (Accrued Guaranteed* Additions − Total Annuity payouts till date of death, 0)

    *T&C apply

    Annuity Payout

    The purchase price has to be paid in advance at the beginning of the contract and is calculated on the basis of the premium payment mode - Single Pay, Regular Pay or Limited Pay.

     

    Frequency

    Annuity payout starts after

    Annually in arrears

    One year from the purchase/end of Deferment Period

    Half-yearly in arrears

    Six months from the purchase/end of Deferment Period

    Quarterly in arrears

    Three months from the purchase/end of Deferment Period

    Monthly in arrears

    One month from the purchase/end of Deferment Period

    Annually in advance
    (except for Option 1)

    Purchase/end of Deferment Period

     

    The annuity installments are to be paid as given below:

     

    Mode

    Annuity Installment (per mode selected)

    Yearly in arrears

    Yearly Annuity

    Half-yearly in arrears

    98% of Yearly Annuity x ½

    Quarterly in arrears

    97% of Yearly Annuity x ¼

    Monthly in arrears

    96% of Yearly Annuity x 1⁄12

    Annually in advance

    93% of Yearly Annuity


     

    Frequently Asked Questions

    Quick Facts Policy Cover Premium Complain
    What is an annuity?

    When an insurance company and an individual make an investment agreement over the long term, where the individual makes a payment in a lump sum or in installments in return for regular or monthly income, either immediately or after some years, this concept is called an annuity.

    What are annuity pension plans?

    An annuity pension plan is an annuity plan that pays out an income in the future after you invest a certain amount in the annuity. The payments will depend on the Entry age of annuitant, Premium/purchase price, PPT & option chosen under the plan. 

    When should you start investing in a pension plan?

    It is wise to start investing in a pension plan as soon as you begin earning a steady salary. At least 12% of your savings should go towards a pension plan.

    What is a Deferment Period? What is the available deferment period in this plan?

    The Deferment Period is the number of years after which you can avail the annuity payouts from the plan. The Deferment Period for the Tata AIA Fortune Guarantee Pension Plan is a minimum of 1 year and a maximum of 10 years for Single Pay, equal to premium payment term for Regular Pay and a minimum of 1 year plus the Premium Payment Term to a maximum of 5 years plus the Premium Payment Term for Limited Pay.

    Do I get any surrender benefits with this pension plan?

    While the Immediate Life Annuity option does not offer any surrender benefits, the other options acquire surrender value depending on the premium payment mode. For a Single Pay plan, the policy acquires surrender value any time after the policy’s date of commencement, while for a Regular/Limited Pay plan, the policy acquires surrender value after at least 2 full years’ premiums have been paid.

    Does this plan have a free look period?

    The free look period for this plan is a period of 15 days from the date of the annuitant receiving the policy document. But if the plan has been purchased online or through any electronic mode, the 15-day free look period is extended to 30 days.

    What are the annuity options under this pension plan?

    The annuity options under this pension plan are as follows: 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.

    What are the death benefit payout modes in this retirement plan?

    Lump sum payout will be available as death benefit. It is important to note that the Immediate Life Annuity option in this retirement plan does not offer any death benefits.

    What are the documents required to buy this pension plan?

    These are the documents you will need to buy this pension plan:

    • PAN Card

    • Aadhar Card

    • Bank statement (for the previous 6 months)

    • Salary Slip

    • Income Tax Receipt

    What is the premium top-up option in this retirement plan?

    The Top-Up option under this retirement plan is the provision to increase the annuity through payment of an extra Purchase Price/Premium as Single Pay, six months after the date of policy commencement.

    What are the premium payment terms available with this plan?

    The Tata AIA Fortune Guarantee Pension plan offers three premium payment terms - Single Pay, Limited Pay and Regular Pay.

    Does the plan offer a grace period and a revival period?

    Yes. This plan has a grace period of 30 days for the annual, half-yearly and quarterly premium payment frequencies from the due date of the premium. However, for the monthly premium payment frequency, the grace period is 15 days from the premium due date.

    Revival Period is equal to 5 year from the date of first unpaid premium. The policy maybe reinstated before the end of deferment period.

    How do I get in touch with the customer service team in case of any grievances?

    You can visit our Contact Page to find the various ways in which you can get in touch with our experts.

     

    You can WhatsApp us at 7045669966 for chat-based service and grievance resolution.

    Looking to buy a new insurance plan? 

    Our experts are happy to help you!

    +91

    TATA AIA Life Insurance Co. Ltd will send you updates on your policy, new products & services, insurance solutions or related information. Select here to opt-in

    Disclaimers
    • The complete name of Tata AIA Fortune Guarantee Pension Plan is Tata AIA Life Insurance Fortune Guarantee Pension Plan (UIN:110N161V08) - A Non-Linked Non-Participating Individual Life Insurance Plan
    • $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).
    • +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.
    • %Return of Purchase price means return of all premiums paid excluding any extra premium, any rider premium, taxes and other statutory levies, if applicable
    • #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.
    • *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.
    • 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.
    • L&C/Advt/2023/Oct/3471

    Looking to buy a new insurance plan?

    Our experts are happy to help

    Please enter your details

    dropdown Search icon

    TATA AIA Life Insurance Co. Ltd will send you updates on your policy, new products & services, insurance solutions or related information. Select here to opt-in

    Thank you for sharing your details.

    Our representative will contact you soon.