Tata AIA Life Fortune Guarantee Supreme

Tata AIA Life Fortune Guarantee Supreme

UIN: 110N163V06

An Individual, Non-Linked, Non-participating, Life Insurance Savings Plan

 

Every individual has their own aspirations in life. Buying that dream home, providing your children the education they deserve or taking your family for a dream vacation. To achieve these aspirations during your lifetime, you need a plan that will deliver without fail. Presenting, Tata AIA Fortune Guarantee Supreme, a life insurance savings plan that allows you to convert these aspirations into reality by providing Guaranteed returns and life cover throughout policy tenure. Based on the nature and time horizon of your aspirations, you have the freedom to take your benefits either as regular income or as a lump sum.

Key Features

• Flexibility to choose Guaranteed^* benefits in the form of lump sum and/or income to meet your ­financial goals.T&C Apply
• Grow your income by choosing sub wallet^& feature & withdraw as and when required
• Women Special discount - 2% on First Year’s Premium specially for women customers
• “Premium Offset” feature to offset your premium against survival benefit payouts
• Enjoy tax benefits^# on premiums and benefits, as per applicable Tax Laws^#

Key Benefits

Death Benefit

In case of death of the life insured/s during the policy term for an in-force policy (all due premiums have been paid), the death benefit payable is highest of the following:

• 25 x Single Premium (excluding discount) or 10 x Annualised Premium (excluding discount)
• 105% of Total Premiums Paid (excluding loading for modal premiums and discount) up to date of death; or
• Basic Sum Assured

Where; “Basic Sum Assured” shall be equal to the Death Benefit Multiple (DBM) multiplied by the Annualised Premium / Single Premium (excluding discount). The Death Benefit Multiple is set as:

• Single Pay:
  • Single Life – 10 or 1.25 as chosen by the policyholder at inception
  • Joint Life –1.25 in case of First death and 10 in case of Second death 

• Limited and Regular Pay: 10

For single life policies and in case of Second Death for joint life policies, the death benefit shall be subject to a minimum of the Surrender Value as on the date of death.

For single life policies, the policy will terminate after payment of death benefit and no other benefits shall be payable.

For joint life policies, the policy will continue after First Death and the income/survival benefit will be paid to the surviving life, however, the policy will terminate after payment of death benefit upon the Second Death and no other benefits shall be payable.

Recoveries from Death Benefit

• In case of death of the life insured during the Grace Period the death benefit shall be paid after deductions of the unpaid premium.
• In case of non-annual mode of premium payment, death benefit shall be paid after deduction of the balance premium for the policy year of death, if any.

“Total Premiums Paid” means total of all the premiums received, excluding any extra premium, any rider premium and taxes.

“Annualised Premium” shall be the premium payable in a year under a non-single pay option chosen by the policyholder, excluding the taxes, rider premiums, underwriting extra premiums, loading for modal premiums, if any.

“Single Premium” shall be the premium payable under a single pay option chosen by the policyholder, excluding the taxes, rider premiums, underwriting extra premiums, if any.

Eligibility Criteria

^%All reference to age is as on last birthday.

Disclaimer

• The complete name of Tata AIA Non-Linked Comprehensive Protection Rider is Tata AIA Life Insurance Non-Linked Comprehensive Protection Rider (UIN: 110N163V06 or any other later version) - A Non-Linked, Non- Participating Individual Health Rider.
• ^*Guaranteed returns in this plan depends on Age at Entry of life assured, Premium payment term, policy term, premium amount and plan option chosen.
• ^&The current loyalty addition rate on the Sub-wallet will be 4.05% compounding annually. This rate will be reviewed every six months (on 1st April & 1st October every year).
• 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.
• Tata AIA Vitality Protect - A Non-Linked, Non- Participating Individual Health rider (UIN:110B046V01), Tata AIA Vitality Health, A Non-Linked, Non- Participating Individual Health rider (UIN:110B045V01), Tata AIA Non-Linked Comprehensive Protection Rider (UIN:110B033V02 or any other later version) - A Non-Linked, Non- Participating Individual Health Rider are available under this plan
• ^#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 implications mentioned anywhere on this site. Please consult your own tax consultant to know the tax benefits available to you.
• ^$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.
• Tata AIA Vitality - A Wellness Program that offers you an upfront discount at policy inception. You can also earn premium discount / cover booster (as applicable) for subsequent years on policy anniversary basis your Vitality Status (tracked on Vitality app) Please refer rider brochures for additional details on health and wellness benefits.
• Vitality is a trademark licensed to Tata AIA Life by Amplify Health Assets PTE. Limited, a joint venture between Vitality Group International, INC. and AIA Company Limited. The assessment under the wellness program (Tata AIA Vitality) shall not be considered as a medical advice or a substitute to a consultation/treatment by a professional medical practitioner.
• On enrolling into the wellness Program, you get an upfront discount of 5% on first year premium for Accidental Death, Accidental Total & Permanent Disability, Accidental Disability Care Benefits and of 10% on first year premiums of the other benefit options. The rewards are offered on cumulative basis and in any year, the maximum rewards in view of both the upfront rewards and annual rewards _ex together shall be 15% for Accidental Disability Care and 30% for all other benefit options. Discount is driven by accumulated points which is achieved through wellness status. Please refer policy document for more details.
• Fortune Guarantee Supreme (UIN: 110N163V06) is underwritten by Tata AIA Life Insurance Company Ltd.
• Insurance cover is available under this product.
• This plan is not a Guaranteed issuance plan, and it will be subject to Company’s underwriting and acceptance.
• The product brochure should be read along with Benefit Illustration.
• Risk cover commences along with policy commencement for all lives, including minor lives.
• 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.
• For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale.
• All Premiums and interest payable under the policy are exclusive of applicable taxes, duties, surcharge, cesses, or levies which will be entirely borne/ paid by the Policyholder, in addition to the payment of such Premium or interest. Tata AIA Life shall have the right to claim, deduct, adjust, and recover the amount of any applicable tax or imposition, levied by any statutory or administrative body, from the benefits payable under the Policy.
• DBS Bank India Limited (IRDA of India Registration Number: CA 0257) having the registered office at GF: Nos. 11 & 12, Capitol Point BKS Marg, Connaught Place, Delhi - 110001 is the Corporate Agent of Tata AIA Life Insurance Company Limited. DBS Bank India Limited (Bank) does not underwrite the risk or act as an insurer. Fortune Guarantee Supreme (UIN: 110N163V06) is underwritten by Tata AIA Life Insurance Company Limited. The contract of insurance is between the insurer and the insured and not between the Bank and the insured. Bank does not give any warranty, as to the accuracy and completeness of the policies. Bank does not accept any liability or losses attributable to your contract of Insurance. Participation by the Bank’s customers in the insurance products is purely on a voluntary basis and is not linked to availment of any other facility from the bank. 

Tata AIA Life Insurance Company Limited (IRDAI Regn. No.110 • CIN: U66010MH2000PLC128403). Registered & Corporate Office: 14th Floor, Tower A, Peninsula Business Park, Senapati Bapat Marg, Lower Parel, Mumbai - 400013. Trade logo displayed above belongs to Tata Sons Ltd and AIA Group Ltd. and is used by Tata AIA Life Insurance Company Ltd under a license. For any information including cancellation, claims and complaints, please contact our Insurance Advisor / Intermediary or visit Tata AIA Life’s nearest branch office or call 1-860-266-9966 (local charges apply) or write to us at [email protected]. Visit us at: www.tataaia.com

DBS Bank India Limited (IRDA of India Registration Number: CA 0257) having the registered office at GF: Nos. 11 & 12, Capitol Point BKS Marg, Connaught Place, Delhi - 110001 is the Corporate Agent of Tata AIA Life Insurance Company Limited. DBS Bank India Limited (Bank) does not underwrite the risk or act as an insurer. The Insurance product is underwritten by Tata AIA Life Insurance Company Limited. The contract of insurance is between the insurer and the insured and not between the Bank and the insured. Bank does not give any warranty, as to the accuracy and completeness of the policies. Bank does not accept any liability or losses attributable to your contract of Insurance. Participation by the Bank’s customers in the insurance products is purely on a voluntary basis and is not linked to availment of any other facility from the bank.

L&C/Advt/2024/Jan/0263

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