Tata AIA Life Fortune Guarantee Plan: Eligibility, Features, and Benefits.

Tata AIA Life Fortune Guarantee Plan: Eligibility Features and Benefits

Tata has released a new policy which is one of the best policies Tata AIA Life launches Fortune Guarantee Plus,
while there are hundreds of company that provide the policy, what is the reason that you should opt for this
plan out of all the other options lets understand Tata AIA Life Fortune Guarantee Plan: Eligibility Features and Benefits.

If the plan is for 35 years all you have to do is pay the policy for 12 years premium of rs 200,000 every year,
(200,000 * 12 = 24,00,000) the company will start paying you from the 13th year of rs 2,25,000 till the maturity
of the policy (that is for 35 years a total of 1,02,93,200 on the investment of just 24,00,000 that is almost more than
4 times the investment).

Tata ALA life insurance has launched a new Tata AIA Life launches Fortune Guarantee Plus plan,
which is a Non-linked and Non-Participating saving plan, the plan not only offers a long term guarantee return but also comprehensive protection coverage.

The Tata AIA Life launches Fortune Guarantee Plus is not only an investment plan with a higher return but also offers
protection from death coverage and also works like medical insurance coverage for various critical illnesses.

The company released this policy in the remembers of crossing a 20 years milestone, the company has achieved
99.06% of claim ratio in the year 2019-2020.

Tata AIA Life launches Fortune Guarantee Plus provides the highest return in the market even though being
a NOn-Linked and A non-Participation savings plan, providing around 10-14% of return on your investment.

Let’s  under the criteria and benefits of Tata AIA Life launches Fortune Guarantee Plus :

Eligibility Criteria of Tata AIA Life Fortune Guarantee Plan

MinimumMaximum
Entry age8 years55 years
Maturity AgeNA65 years
Plan tenure10 years
Premium payableRs.50,000No limit
Premium Paying Term5 years
Sum Assured10 Times The Annual Premium Paid
Premium payment mode AvailableMonthly, quarterly, half-yearly, and annually

 

Feature of Tata AIA Life Fortune Guarantee Plan:

The Tata AIA Life Fortune Guarantee Plan covers various key features let us understand all the features one by one:

  • Premium payment:

    The Tata AIA Life Fortune Guarantee Plan covers for a certain year, then the rest is covered by the company.
    for example, the policy is for 35 years but you only need to pay for 12 years.

 

  • Death benefit:

    In the case of the death of the policyholder, the total sum assured plus 105% of the total premium paid
    till the date of death, is being paid to the nominee.

 

  • Policy coverage:

    However, the policy is an investment scheme but it still death and medical coverage
    till the maturity of the policy.

 

  • Loan Facility:

    The loan facility is provided under Tata AIA Life Fortune Guarantee Plan,
    there is no specified period to wait for a long term to apply,
    but however, you can only up to 65% of the surrender value of the policy.

 

  • Riders:

    The Tata AIA Life Fortune Guarantee Plan provides the additional add-on benefit to the policyholder
    but at an additional cost.

 

  • Grace Period:

    The policy provides the customer/policyholder a grace period of 30 days (one month).

 

  • Premium Payment :

    The Tata AIA Life Fortune Guarantee Plan provides various premium payment mode,
    Annual, Semi-annual, quarterly, monthly basis.

 

Benefits of Tata AIA Life Fortune Guarantee Plan:

There are various benefits of the Tata AIA Life Fortune Guarantee Plan, as given below:

  • Mode of purchase :

    This plan is available both online and offline as well, it up to the policyholder,
    to either go online or offline.

 

  • Tax Benefits:

    The plan is exempt from tax under the Income Tax Act of 1961,
    Under Section 80c, and under Section 10 (10D).

 

  • Death Benefits:

    As mentioned above the plan act as death insurance, wherein the nominee receives
    105% on the premium paid +(plus) an assured lump sum amount.

 

  • Loan Facility:

    The Tata AIA Life Fortune Guarantee Plan provides a loan facility, however,
    the loan amount is evaluated up to 65% on the value of the surrender.

 

  • Additional Rider Benefits:

    This plan even provides an additional rider benefit for an additional add-on price,
    which is kind of double security.

 

Conclusion:

In summary, to the “Tata AIA Life Fortune Guarantee Plan: Eligibility Features and Benefits.”
This plan does not only promote financial investment but also provides death coverage to the
policyholder.
In other words, this plan provides a high return and security compared to all the company in the market,
at this given scenario this is one the best plan provided for the youngest to earn a higher return,
however, the plan is a Non-Linked plan it does not matter whether the market is performing or
not you will assure a fixed return at all cost.

 

[ Read More: LIC New Money Back Plan 25 years: Feature, Benefit, and Eligibility Criteria  ]

 

[ Read More: The BEST INVESTMENT PLANS For 2021 In India ]

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