The Tata AIA Fortune Guarantee Plus offers the following two variants:

• Regular Income

• Regular Income with an inbuilt Critical Illness benefit

Yes! You can save tax up to 46,800⁺⁺ and avail tax benefits as per the applicable income tax laws. The premiums paid will qualify for tax benefits under section 80C of the income tax act. 

This plan provides a grace period of 15 days for the monthly payment mode and 30 days for all other modes from the due date of subsequent premium payments.

Yes, this plan has a free look period of 15 days from the date of issuance if the policy has been purchased offline. Otherwise, for the electronic/online/distance marketing mode, the free look period is 30 days from the date of issuance.

Yes, once the policy acquires a surrender value, you can apply for a policy loan for an amount that does not exceed 80% of the surrender value. The assignee of the policy will be Tata AIA Life. 

With guaranteed^* return plans, such as Tata AIA Fortune Guarantee Plus (Non-Linked, Non-Participating, Individual Life Insurance Savings Plan (UIN: 110N158V07), you can save income tax^# up to 46,800⁺⁺ every year. 

There are very few differences between the two plan variants – regular income and regular income with critical illness benefit.

The main difference is that the second plan option comes with an inbuilt critical illness benefit that offers coverage against 40 critical illnesses, which the first plan option does not.

Only the Regular Pay option for premium payment is enabled under the second plan option, and the Income Period is different for both plan options – 20 to 45 years for option 1 and 30 or 25 years for option 2.

When you purchase Fortune Guarantee Plus by Tata AIA, the minimum premium amount to be paid is as follows:

• Single Pay - ₹5,000

• Limited Pay / Regular Pay – ₹24,000 p.a.

You can choose from the following premium payment frequencies

• Annual

• Half-yearly

• Quarterly

• Monthly

• Single

You can choose to receive the income benefit from the plan either monthly or annually.

The return of premium benefit will be payable at the end of the income period, irrespective of the survival of the policyholder during the income period.  

Apart from the base policy premiums, you will have to pay additional premiums only if you opt for a rider^^ benefit to enhance the policy coverage.

You can pay your premiums for this policy through the Single, Annual, Half-yearly, Quarterly or Monthly modes.

The premium payment frequency is fixed at the time of policy purchase. But if you need to change the premium frequency, you can do so after the first policy year, when all the premiums for the first year are paid.

Under plan option 1, the minimum and maximum premium payment terms are:

• Single Pay – 1 year for a policy term of 5 years
• Regular Pay – minimum of 5 years and maximum of 10 years.
• Limited Pay – 5 years for PT of 6-10 years and 12 years for PT of 13-17 years.
• Under plan option 2, the minimum and maximum premium payment terms are 5 and 10 years, respectively.

If you discontinue the premium payment before surrendering the policy, you will get a grace period of 15/30 days (15 days for monthly mode, 30 days for all other modes) from the due date of the unpaid premium to pay the premium. The policy will be active during this time, and you can continue receiving life insurance coverage. However, the policy will lapse unless you pay your premiums after the grace period.

If you surrender your policy, the application will be reviewed by Tata AIA Life Insurance company, and once the surrender is accepted, you need not pay the policy premiums anymore.

No. You can choose one of the two plan options – Regular Income or Regular Income with inbuilt Critical Illness benefit – only at the time of purchasing this savings plan and cannot make any changes after.

With the Tata AIA Fortune Guarantee Plus plan, you can purchase the following riders^{^}.
 

• Tata AIA

  Vitality Protect

  A Non-Linked, Non- Participating Individual Health rider (UIN:110B046V01 or any other later version)

• Tata AIA

  Vitality Health

  A Non-Linked, Non- Participating Individual Health rider (UIN:110B045V01 or any other later version)

• Tata AIA

  Non-Linked Comprehensive Protection Rider

  A Non-Linked, Non- Participating Individual Health Rider - (UIN:110B033V02 or any other later version)

• Tata AIA

  Non-Linked Comprehensive Health Rider

  A Non-Linked, Non- Participating Individual Health Rider - (UIN: 110B031V02 or any other later version)

Yes, with the Regular Income variant of the Tata AIA Life Insurance Fortune Guarantee Plus plan, you can choose Joint Life Policy under the Single Pay mode for premium payments option.

You can receive regular income under this guaranteed income plan during the Income Period starting from 20 years for as long as 45 years, as selected by you.

Yes, if you choose the Regular Income with In-built Critical Illness benefit, the waiver of premium benefit will be applicable. During the premium payment term, if you are diagnosed with any of the covered critical illness and the claims is accepted as per the products T&C all future premiums will be waived off and the plan will continue to be in effect.

No!  if the insured passes away during the policy term, the nominee can file a death claim and receive the benefits. However, if the insured survives the policy term, they will receive the financial corpus accumulated under the savings policy as a maturity benefit.

Please click on here to know the list of documents needed for the claim intimation and settlement process.

 To raise a claim, you can choose any of the following channels to reach out to us.

• Email us at: customercare@tataaia.com

• Call our helpline number - 1860-266-9966 (local charges apply)

• Walk into any of the Tata AIA Life Insurance Company branch offices

• Write to us at the below address:

The Claims Department,

Tata AIA Life Insurance Company Limited

B- Wing, 9th Floor,

I-Think Techno Campus,

Behind TCS, Pokhran Road No.2,

Close to Eastern Express Highway,

Thane (West) 400 607.

IRDA Regn. No. 110

If the nominee is outside of India and the claim needs to be filed, then the nominee can file the claim online by uploading the attested copies of the required documents online or through email. If the nominee wishes to file the claim offline, then they can courier their documents to their representative in India, who can visit our office and initiate the process.

No, the claim can be filed at any Tata AIA Life Insurance branch, as per your/the nominee’s convenience. You can locate our office branches and visit the one nearest to you for the claim initiation.

Yes, if you have chosen the Regular Income with In-built Critical Illness Benefit option under this plan, then you can file a claim with us if and when you are diagnosed with a critical illness that is listed in the policy.