Non-Linked, Non-Participating, Individual Life Insurance Savings Plan (UIN: 110N158V05)
TATA AIA Life Insurance Fortune Guarantee Plus Plan
Nothing is more important than your family. We understand your responsibility towards keeping them safe and securing their financial future at all costs. This is where we can aid you with guaranteed returns in ensuring their happiness and making sure that you and your family never should compromise on your dreams.
We at Tata AIA are committed to secure your future and are delighted to present Tata AIA Life Insurance Fortune Guarantee Plus, a savings plan that empowers you to meet life’s contingencies through a guaranteed* regular income. This guaranteed income plan offers you the benefits of life insurance coverage coupled with the savings feature as per your financial requirements.
Benefits of TATA AIA Life Insurance Fortune Guarantee Plus Policy - A Savings Plan
Get Guaranteed* Income
Get Guaranteed* Income
Tata AIA Life Insurance Fortune Guarantee Plus is a savings plan that enables you to meet life's goals through guaranteed regular income. By choosing this guaranteed income plan, you get to enjoy the benefits of life insurance coverage, coupled with the element of savings to fulfil your life goals.
Health Cover against 40 Critical Illnesses~
Health Cover against 40 Critical Illnesses~
Time never stands still and neither do our financial needs. This is an individual life savings plan with an optional critical illness rider which provides coverage against 40 critical illnesses and this plan provides flexibility to choose from an income period of between 20 to 45 years.
Return of Premium^^^ at the end of Income Period
Return of Premium^^^ at the end of Income Period
Switch to ‘Relax Mode’ with guarantee* of a stable future. With this savings policy, you can get the total premium paid by you at the end of the income period, irrespective of the survival of the life insured(s) during the income period chosen.
Save Tax^ up to 46,800$
Save Tax^ up to 46,800$
You can avail tax benefits as per the applicable tax laws. This savings plan provides you a stable and secure future for you and your family.
Personal Medical Case Management (PMCM)**
Personal Medical Case Management (PMCM)**
Get advice from global experts with 24/7 multiple consultation services for 3 months in case of heart ailments or cancer. Click here to know more.
Online Medical Consultation***
Online Medical Consultation***
Instant Online Medical Consultations for 23+ specialties. Connect with a doctor in 180 seconds. 24x7 doctor availability and instant connection reduces the need to visit doctors. Click here to know more.
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![Choose income frequency | Tata AIA Life Insurance Company]( "Choose income frequency | Tata AIA Life Insurance Company")
Choose income frequency
Option to receive income either on a monthly or annual basis, as per convenience.
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![Choose from either a regular income plan or regular income plan | Tata AIA Life Insurance Company]( "Choose from either a regular income plan or regular income plan | Tata AIA Life Insurance Company")
Choose income plan
Choose from either a regular income plan or regular income with an in-built critical illness benefit.
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![Choose any additional riders to increase the protective cover | Tata AIA Life Insurance Company]( "Choose any additional riders to increase the protective cover | Tata AIA Life Insurance Company")
Choose additional^^ riders
Freedom to choose any of the additional riders to increase the protective cover.
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![Choice of Joint Life policy under single premium payment option | Tata AIA Life Insurance Company]( "Choice of Joint Life policy under single premium payment option | Tata AIA Life Insurance Company")
Joint Life policy
Choice of Joint Life policy under single premium payment option.
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![Pay as per Convenience | Tata AIA Life Insurance Company]( "Pay as per Convenience | Tata AIA Life Insurance Company")
Pay as per Convenience
Choice of Premium payment between Single Premium, Regular Premium payment or Limited Payment option
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![Choose Income Start Date | Tata AIA Life Insurance Company]( "Choose Income Start Date | Tata AIA Life Insurance Company")
Choose Income Start Date
Flexibility to choose Income Period from 20 to 45 years
Add Saving Plan riders^^
Tata AIA Life Insurance Non-Linked Comprehensive Protection Rider
Choose one or more benefit options (risk covers), including death, accidental death / disability, critical illness and terminal illness
Flexibility to receive benefit as combination of lump-sum and income for fixed period, income till survival of partner, or as waiver of future premiums
Tata AIA Life Insurance Non-Linked Comprehensive Health Rider
Choose one or more benefit options (risk covers), from a list of 5 available options, including disability, hospitalization, and illness
The rider provides coverage against both major illnesses, and minor injuries or illnesses, while allowing multiple claim payouts
Eligibility Criteria
Age at entry #
Eligible age range at entry
Eligible age range at entry
Age at Maturity #
Eligible age range at maturity
Eligible age range at maturity
#All reference to age is as on last birthday.
Premium payment term v/s Policy term
Policy Term |
||||
Premium |
Option 1 |
Option 2 |
||
Single Pay |
Regular Pay |
Limited Pay |
Regular Pay |
|
1 year |
5 years | - | - | - |
5 to 12 years |
- | Same as PPT | - | - |
5 years |
- | - | 6 to 10 years | Same as PPT |
6 years |
- | - | 7 to 11 years | - |
7 years |
- | - | 8 to 12 years | - |
8 years |
- | - | 9 to 13 years | - |
9 years |
- | - | 10 to 14 years | - |
10 years |
- | - | 11 to 15 years | Same as PPT |
11 years |
- | - | 12 to 16 years | - |
12 years |
- | - | 13 to 17 years | - |
Documents Required
PAN card
Bank statement
(for the previous 6 months)
Salary Slip
Aadhar Card
Income Tax Reciept
How does Fortune Guarantee Plus plan work
Step 1 : Choose the appropriate Plan option
Tata AIA Life Insurance Fortune Guarantee Plus offers the following two options under this plan.
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Option 1: Regular Income
This option provides financial protection with guaranteed* regular income in monthly or annual payment modes at the maturity of the policy till the end of the income period. Subject to the policy terms, the income period can be from 20 to 50 years in multiples of 5 years. -
Option 2: Regular Income with an inbuilt Critical Illness Benefit:
Under this option, the insured receives a guaranteed* monthly or annual income following the diagnosis of a critical illness listed in the policy terms till the end of the income period. The pay-outs for critical illness benefit will commence only if the diagnosis is made before the maturity date of the policy. Policy term 5 has an income period of 30 years and policy term 10 has an income period of 25 years.
Step 2 : Choose the Premium Amount
Option 1: Regular Income
Single Pay
Minimum Premium
₹ 5000
Limited Pay / Regular Pay
Minimum Premium
₹ 24000 p.a.
Option 2: Regular Income with an inbuilt Critical Illness benefit
Regular Pay
Minimum Premium
₹ 24000 p.a.
Premium payment of
requency options
Single
Annual
Half-yearly
Quaterly
Monthly
Income period & Income mode
Option 1
- 20 to 45 years
(in multiples of 5 years)
The Policy Term + Income Period should be 25 years to 50 years
Option 2
30 years
for 5 pay
25 years
for 10 pay
Income Mode
Annual
Monthly
Step 3 : Select a Suitable Premium Payment Term (PPT) and Policy Term (PT)
Premium payment term v/s Policy term
Policy Term |
||||
Premium |
Option 1 |
Option 2 |
||
Single Pay |
Regular Pay |
Limited Pay |
Regular Pay |
|
1 year |
5 years | - | - | - |
5 to 12 years |
- | Same as PPT | - | - |
5 years |
- | - | 6 to 10 years | Same as PPT |
6 years |
- | - | 7 to 11 years | - |
7 years |
- | - | 8 to 12 years | - |
8 years |
- | - | 9 to 13 years | - |
9 years |
- | - | 10 to 14 years | - |
10 years |
- | - | 11 to 15 years | Same as PPT |
11 years |
- | - | 12 to 16 years | - |
12 years |
- | - | 13 to 17 years | - |
Frequently Asked Questions (FAQs) About Fortune Guaranteed Plus Insurance Plan
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What is a savings policy?
A savings plan is a type of life insurance plan that provides you with the opportunity to save with no-risk investment options and secure your and your family’s financial future with a life cover.
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What are riders? Why do I need a rider?
Riders are additional provisions that you can add to your basic insurance policy in order to enhance the protection and the benefits you receive. These riders offer coverage against death, critical illness, terminal illness, disability due to an accident, etc.
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What is a claim settlement ratio?
The claim settlement ratio is referred to as the number of claims that have been passed by an insurance company. It is the ratio of the number of claims settled by an insurer to the number of claims filed in a given period of time.
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Why do I need a savings plan?
A savings plan provides you with insurance cover along with systematic savings. This guaranteed savings plan helps you to build your funds to achieve your long-term financial goals and secure your family’s future financial needs.
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What documents would I require to buy a guaranteed savings insurance plan?
To buy an insurance policy, you need to submit the following mandatory documents.
Proof of address: The following documents are accepted as valid proof of your address.
Bank Statement (or passbook) with the latest entries for six months
Aadhaar card
Passport
Voter's ID
Driving license
Electricity/telephone bill
Ration card
Proof of identity: Some of the documents that are accepted as valid proof of your identity include:
PAN card
Aadhaar card
Passport
Driving license
Documents showing proof of income: These documents, which are required only for a few plans, include:
Salary slips of the previous 3 months
Income tax returns/Employer certificate
Bank statement of the previous 6 months
Latest Form 16
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When does a policy lapse?
When the premiums for 2 consecutive years have not been paid within the grace period, the policy will lapse from the due date of first unpaid premium, and no benefits will be payable to the policyholder.
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What are the variants of the Tata AIA Life Insurance Fortune Guarantee Plus plan?
The Tata AIA Life Insurance Fortune Guarantee Plus offers the following two variants:
Regular Income
Regular Income with an inbuilt Critical Illness benefit
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Do I get any tax benefits with this plan?
Yes! You can save tax upto 46,800$ and avail tax benefits as per the applicable income tax laws.
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What is the grace period for this plan?
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.
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Does this plan offer a Free Look period?
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.
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Does the Tata AIA Life Insurance Fortune Guarantee Plus have a loan facility?
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.
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What are Health Management Services?
The Health Management Services under this plan enable you to avail of a second medical opinion or medical consultation*** from a service provider registered with Tata AIA Life Insurance Co. Ltd. These services can help in the correct and timely diagnosis of a critical illness, resulting in better care and treatment of the ailment.
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What is the minimum premium amount that needs to be paid for this plan?
When you purchase the 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.
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What is the premium payment frequency for this life insurance with guaranteed returns plan?
You can choose from the following premium payment frequencies
Annual
Half-yearly
Quarterly
Monthly
Single
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In which modes can I receive income from this plan?
You can choose to receive the income benefit from the plan either monthly or annually.
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When do I receive the return of premium benefit with this plan?
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.
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Do I need to pay any extra premiums for the Tata AIA Fortune Guarantee Plus?
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.
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Which rider can I purchase with the Tata AIA Fortune Guarantee Plus plan?
With the Tata AIA Life Insurance Fortune Guarantee Plus plan, you can purchase the following riders.
Tata AIA Life Insurance Non-Linked Comprehensive Protection Rider (UIN: 110B033V02).
Tata AIA Life Insurance Non-Linked Comprehensive Health Rider (UIN: 110B031V02).
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Does this plan provide an option for Joint Life Policy?
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.
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When can I add riders to my Fortune Guarantee Plus policy?
You can add the Tata AIA Life Insurance Non-Linked Comprehensive Protection Rider or the Tata AIA Life Insurance Non-Linked Comprehensive Health Rider to your plan either during the policy inception or on the policy anniversary. However, you can avail of the riders if you purchase the base plan from the non-PoS channel.
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What is the Income Period under this plan?
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.
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Does this plan offer a waiver of premium benefit?
Yes, if you choose the Regular Income with In-built Critical Illness benefit, the waiver of premium benefit will be applicable. During the policy term and before maturity, if you are diagnosed with a critical illness and the payout for the contingency has been made, the plan will continue to be in effect, and all future premiums will be waived off.
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What are the documents required for a claim settlement?
Please click on here to know the list of documents needed for the claim intimation and settlement process.
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How can I raise a claim under this savings policy?
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
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How will the claim be processed if the nominee is outside of India?
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.
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Does the claim have to be filed at the same Tata AIA Life Insurance branch where the policy was purchased?
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.
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Can I file a Critical Illness claim under this plan?
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.
Premium Criteria and Sample Illustration
Minimum Premium
| Premium Payment Term | Single Pay | Limited Pay | Regular Pay |
| Minimum Annual Premium (excl taxes) | Rs. 5,000 | Rs. 24,000 p.a. | Rs. 24,000 p.a. |
| Minimum Monthly Premium (excl taxes) | Not Applicable | Rs. 2,119 p.a. | Rs. 2,119 p.a. |
%Sample Illustration
| Premium p.a. (excl taxes) | Premium per month (excl taxes and modal loading) | Premium Payment Term | Policy Term | Income Term | Total Premium | Guaranteed Income1 p.a. | Total Guaranteed Benefit (Total Income + Total Premiums) |
| 1,00,000 | 8,333 | 5 | 10 | 20 | 5,00,000 | 49,680 | 14,93,600 |
| 60,000 | 5,000 | 5 | 10 | 20 | 3,00,000 | 29,808 | 8,96,160 |
| 50,000 | 4,167 | 5 | 10 | 20 | 2,50,000 | 24,840 | 7,46,800 |
| 24,000 | 2,000 | 5 | 10 | 20 | 1,20,000 | 11,923 | 3,58,464 |
| 1,00,000 | 8,333 | 10 | 15 | 30 | 10,00,000 | 1,43,570 | 53,07,100 |
| 60,000 | 5,000 | 10 | 15 | 30 | 6,00,000 | 86,142 | 31,84,260 |
| 50,000 | 4,167 | 10 | 15 | 30 | 5,00,000 | 71,785 | 26,53,550 |
| 24,000 | 2,000 | 10 | 15 | 30 | 2,40,000 | 34,457 | 12,73,704 |
| 60,000 | 5,000 | 12 | 12 | 20 | 7,20,000 | 76,014 | 22,40,280 |
1The above illustration is for age group of 18 to 50, standard life, For Plan Option 1 (Regular Income).
All Premiums are subject to applicable taxes, cesses & levies which will be entirely borne/ paid by the Policyholder, in addition to the payment of such Premium. Tata AIA Life shall have the right to claim, deduct, adjust, recover the amount of any applicable tax or imposition, levied by any statutory or administrative body, from the benefits payable under the Policy. Kindly refer the sales illustration for the exact premium.
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Disclaimers
- Tata AIA Life Insurance Fortune Guarantee Plus (Individual, Non-Linked, Non-Participating, Life Insurance Savings Plan) • UIN: 110N158V05
- 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. The precise terms and condition of this plan are specified in the Policy Contract.
- 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.
- Risk cover commences along with policy commencement for all lives, including minor lives.
- +"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. Income is payable for chosen income period of 20 to 45 years, please refer brochure for details.
- $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.
- #Other options are available under this plan. Please Refer Sales Brochure for details.
- ~Applicable for specific plan options. Please refer brochure for additional details.
- ^^Tata AIA Life Insurance Non-Linked Comprehensive Protection Rider (UIN:110B033V02 or any other later version) and Tata AIA Life Insurance Non-Linked Comprehensive Health Rider (UIN: 110B031V02 or any other later version) are available under this 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.
- ##Medical Consultation is available under eligible policies of Tata AIA Life Insurance and these services are currently being provided by Practo. Medical Consultation feature is optional. It is the customer’s sole discretion to avail Medical Consultation and to follow the advice suggested by the service provider. All medical-related dealing will be directly with the service provider and not with Tata AIA Life Insurance. It is available only for Life Assured of active policies for select products/riders. This feature can be discontinued or service provider may be changed at any time at Tata AIA Life Insurance’s discretion. This feature is provided by a third party service provider and Tata AIA Life Insurance shall not be liable for any liability arising due to customer opting to avail this feature.
- ^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.
- &The Company may offer a premium discount on the policies sourced by the company to the Existing Customers of Tata AIA Life’s Insurance Products as on the date of application. This premium discount shall be applicable on the premiums payable in the first policy year only and may range from 1.5% to 20% depending on the Policy term and Premium payment term opted.
- **Individual Life Claim Settlement Ratio is 98.53% for FY 2021 - 22 as per the latest annual audited figures.
- L&C/Advt/2022/May/0931
