Tata AIA Life Insurance Fortune Guarantee is a limited premium paying non-linked, non-participating endowment assurance plan that not only offers protection but also offers all the benefits of a saving product. The plan offers guaranteed maturity benefit for a short premium payment term.
Listed below is the eligibility criteria for Tata AIA Life Insurance Fortune Guarantee
Eligibility criteria | Eligibility factor |
Minimum age | 8 years at last birthday |
Maximum age | 55 years at last birthday |
Maximum age at maturity | 85 years |
Policy term | 10 years |
Premium payment terms | 5 years |
Premium payment mode | Annual, biannual, quarterly,monthly |
Basic Sum Assured | 10 times the annualised premium |
Minimum annual premium | Rs. 50,000 |
Maximum annual premium | There is no limit on maximum annual premium |
Listed below are the key features of Tata AIA Life Insurance Fortune Guarantee
Type | Endowment plan |
Basis | Individual |
Policy terms | 10 years |
Premium payment terms | 5 years |
Premium payment mode | Annually, bi-annually, quarterly and monthly |
Death benefit | In case of death of the insured during the policy term, the sum assured along with 105% of the total premiums paid and maturity sum assured is paid to the nominee as death benefit |
Maturity benefit | The maturity benefit is equal to the maturity benefit factor multiplied by total premiums paid. The maturity benefit depends on the gender, annualised premium band as well as age at entry. |
Free look period | 15 days |
Grace period | One month (30 days) |
Surrender | The policy can be surrendered any time during the term of the policy. |
Policy cover | Death benefit and maturity benefit |
Loan facility | Loan facility is available under the policy but only after it acquires surrender value. One can apply for a loan up to 65% of the surrender value. |
Policy revival | The policy can be revived within the two years from the date of the first unpaid premium in case of lapse of the policy |
Tax benefits | The policy qualifies for tax benefits under section 80c of the Income Tax Act, 1961 |
Riders | Provision to improve the plan cover with the help of an additional rider |
Listed below are the benefits of Tata AIA Life Insurance Fortune Guarantee
Consider the case of Mr. Akash, a 35 year old professional who opts for the plan for an annual premium of Rs.1,00,000 for a term of 10 years. The basic sum assured offered in his case is Rs.10,00,000 and a maturity benefit of Rs. 7,50,000.
Listed below are the riders for AIA Life Insurance Fortune Guarantee
GST of 18% is applicable on life insurance effective from the 1st of July, 2017
Credit Card:
Credit Score:
Personal Loan:
Home Loan:
Fixed Deposit:
Copyright © 2025 BankBazaar.com.