TATA AIA Life Insurance Fortune Guarantee

TATA AIA Life Insurance Fortune Guarantee 
Non-Linked Non-Participating Endowment Insurance Plan

Image Source : Tata Capital

TATA AIA Life Insurance Fortune Guarantee - a Non-Linked Non-Participating Endowment Insurance Plan

Tata AIA Life Insurance Fortune Guarantee is a limited premium paying Non Linked Non Participating Endowment Assurance plan that offers benefits of a savings product and protection for the family. The plan offers a Guaranteed Maturity Benefit with a short premium paying term.

Plan at a Glance

• Minimum / Maximum entry age : 8 / 55 years 
• Maturity age : 65 years
• Policy Term : 10/11/12 years
• Premium Payment Term : 5 years
• Premium Mode : Annual / Half yearly / Quarterly / Monthly
• Basic Sum Assured : 10 times annualized premium
• Minimum Annualized Premium (AP): Rs. 50,000

Key Features

• Guaranteed Maturity Benefit that varies from 125% to 160% of Total Premiums Paid
• Higher benefits for female lives

Maturity Benefit

Sum Assured payable is equal to Maturity Benefit Factor * Total Premium Paid, where maturity benefit factor varies as per gender, annualized premium band and entry age.

Death Benefit

Sum Assured shall be higher of the following:

1. 10 times Annualized Premium
2. 105% of Total Premiums Paid
3. Maturity Sum Assured

Tax Benefits

Tax Benefits are as per prevailing tax laws

Benefit Illustration

Age : 40

Premium Payable : Rs. 50,000

Policy Term : 10 years

PPT : 5 years

Sum Assured : 5,00,000

Maturity Benefit:

Rs. 3,20,000/- { 2,00,000 * 128%} {Total premiums paid * maturity benefit factor}

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