Tata AIA Life Insurance Fortune Pro Plan

The Tata AIA Life Insurance Fortune Pro Plan is an investment product offered by Tata AIA Life Insurance Company Limited. This plan is designed to provide financial protection and investment opportunities to policyholders. Policyholders can invest premiums in various funds, to grow their wealth. The plan provides flexibility in premium payments and additional benefits like riders for critical illness or accidental death.

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What is Tata AIA Life Insurance Fortune Pro Plan?

The Tata AIA Life Insurance Fortune Pro Plan is a Unit-Linked Insurance Plan (ULIP) that offers a combination of life insurance protection and investment potential. It is designed to help you achieve your long-term financial goals, such as retirement planning, child's education, or wealth creation.

What is the Eligibility Criteria for Tata AIA Life Insurance Fortune Pro Plan?

Criteria  Details 
Minimum Issue Age  0 years (30 days)
Maximum Issue Age  65 years
Minimum Maturity Age  18 years
Maximum Maturity Age  80 years
Policy Term 6 to 40 years
Premium Paying Term Single Pay
Limited Pay – 5 to 20 years
Regular Pay – 12 to 40 years
Pay Mode Single, Annual, Semi-Annual,
Quarterly, Monthly
Minimum Premium Single Pay – ₹25,000
Regular/Limited Pay – ₹12,000per annum
Maximum Premium Single Pay – ₹5,00,000
Regular/Limited Pay – ₹5,00,000
per annum
Minimum Basic Sum Assured For Single Pay –
1.25 times the Single Premium
For Regular / Limited Pay –
7 * AP
Maximum Basic Sum Assured For Single Pay –
  Max Multiple of Single Premium
Entry Age / Policy Term Up to 10 11 to 20 >20
< =35 10 5 1.25
36 to 40 7 5 1.25
41 to 45 5 1.25 1.25
> 45 1.25 1.25 1.25
For Regular / Limited Pay  
Entry Age Band Maximum Multiple of AP
0 to 29 30
30 to 35 20
36 to 45 Higher of the (Policy Term/
2 or 15)
46 to 65 Higher of the (Policy Term/
2 or 10)

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What are the Features and Benefits of Tata AIA Life Insurance Fortune Pro Plan?

Here are the features and benefits of Tata AIA Life Insurance Fortune Pro Plan: 

  • Flexible Premium Options: Choose terms and payment modes aligning with your financial goals.

  • Optional Riders: Enhance coverage with additional benefits for family protection and premium waiver.

  • Strategized Investment: Implement Enhanced SMART (Enhanced Systematic Money Allocation & Regular Transfer) portfolio strategy for structured growth in volatile markets.

  • Tax Benefits: Enjoy tax advantages as per prevailing income tax laws.

  • Affordable Investment: Start with just Rs 1000/month.

  • Regular Loyalty Additions: Boost investments over time.

  • Diverse Fund Options: Choose from a range of funds for enhanced opportunities.

Invest more and Get more with ULIP Plan Invest more and Get more with ULIP Plan

How Does Tata AIA Life Insurance Fortune Pro Plan Work?

The Tata AIA Life Insurance Fortune Pro Plan offers a simple process, this is how the plan works:

Step 1: Select Sum Assured: Choose the sum assured based on your premium payment mode - Single Pay, Regular Pay, or Limited Pay.

Step 2: Choose Policy Term and Premium Payment Term: Policy terms range from 6 to 40 years, while premium payment terms vary from Single Pay to Limited Pay (5 to 20 years) to Regular Pay (12 to 40 years).

Step 3: Complete Online Purchase: Use digital payment channels to pay premiums and finalize the purchase online.

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Riders Under Tata AIA Life Insurance Fortune Pro Plan

  1. Tata AIA Accidental Death and Dismemberment (Long Scale) (ADDL) Linked Rider

    Linked, Individual, Health Insurance Rider (UIN: 110A027V02 or later)

  2. Tata AIA Waiver of Premium (Linked) Rider

    Linked, Individual, Health Insurance Rider (UIN: 110A026V02 or later)

  3. Tata AIA Waiver of Premium Plus (Linked) Rider

    A Non-Linked, Non-Participating, Individual Health Insurance, Premium Paying Rider (UIN: 110B029V02 or later)

  4. Tata AIA Vitality Protect Plus

    A Non-Linked, Non- Participating Individual Health rider (UIN: 110A048V03 or any later version)

  5. Tata AIA Vitality Health Plus

    A Non-Linked, Non- Participating Individual Health rider (UIN: 110A047V02 or any later version)

  6. Tata AIA Life Insurance Linked Comprehensive Health Rider

    A Non-Linked, Non- Participating Individual Health rider (UIN: 110A031V03 or any later version)

  7. Tata AIA Life Insurance Linked Comprehensive Protection Rider

    A Non-Linked, Non- Participating Individual Health rider (UIN: 110A032V03 or any later version)

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Exclusion Under Tata AIA Life Insurance Fortune Pro Plan

In the unfortunate event of death by suicide within 12 months from the policy's commencement or revival date, the nominee or beneficiary shall receive the fund value/policy account value as of the date of death notification. Any charges, except Fund Management charges, incurred after the date of death will be reimbursed to the nominee or beneficiary along with the death benefit.

Additional Plan Details of Tata AIA Life Insurance Fortune Pro Plan

  • Free Look Period: You have the option to cancel the policy within 15 days (extended to 30 days for distance marketing) of receiving it, provided you state objections or reasons in writing. Upon cancellation, you'll receive the non-allocated premium, charges, fund value, minus applicable deductions like risk premium and stamp duty.

  • Grace Period: A grace period of 30 days (15 days for monthly mode) is provided for unpaid premiums, during which the policy remains in force with the risk cover intact.

  • Backdating: Backdating is not permitted under this plan.

  • Policy Loan: Policy loan facility is not available.

  • Juvenile Policy: If the policy is issued for a minor, it automatically vests in the life insured upon reaching the age of majority.

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  • Exclusions: Death by suicide within 12 months from policy commencement or revival results in the nominee receiving fund value. Rider benefits have separate exclusion clauses.

  • Tax Benefits: Tax benefits are available as per prevailing tax laws, subject to conditions. Tax laws may change, and consult with a tax consultant for accurate information.

  • Assignment and Nomination: Allowed as per provisions of the Insurance Act 1938.

Frequently Asked Questions

  • What is the Tata AIA Life Insurance Fortune Pro Plan?

    It's a ULIP combining life cover with potential market-linked returns and investment flexibility.
  • What are the investment options?

    Choose from 6 funds (equity, debt, balanced) based on your risk tolerance.
  • Can I withdraw money under Tata AIA Life Insurance Fortune Pro Plan ?

    Partial withdrawals allowed after 5 years, subject to policy terms and conditions.
  • Are there additional benefits?

    Optional riders like accidental death and premium waiver are available.
  • What are the charges under this plan?

    Policy charges include premium allocation charges, fund management fees, etc. Check the plan brochure for details.
  • Who should opt for Tata AIA Fortune Pro?

    • Young Working Professionals: Investing in a ULIP like Tata AIA Fortune Pro during early service years can help manage investment risks while aligning with medium to long-term goals.

    • Seeking Diversification: Investors aiming for portfolio diversification can benefit from a ULIP, earning market-linked returns while securing extensive life cover for their family's financial stability.

    • Desiring Market-Linked Returns: New investors seeking guided investment in market-linked instruments can choose a ULIP tailored to their risk profile and investment objectives.

    • Planning Retirement: ULIPs like Tata AIA Fortune Pro offer market-linked returns, helping in wealth accumulation for retirement, ensuring financial security during post-work years.

  • What is the Fortune Pro plan?

    The Fortune Pro Plan is a comprehensive life insurance policy offered by Tata AIA Life Insurance Company. Under this ULIP policy, policyholders receive life insurance coverage to secure their loved one's financial future in case of unfortunate events. This plan also offers the potential for wealth creation through investments in market-linked funds.
  • What are the returns of TATA AIA Fortune Pro?

    The returns of Tata AIA Fortune Pro depend on the performance of the funds in which the premiums are invested. The returns of each fund will vary depending on the market conditions.
  • Is TATA AIA Fortune Pro a mutual fund?

    No, Tata AIA Fortune Pro is not a mutual fund. It is a unit-linked insurance plan (ULIP), which means that the premiums paid are invested in a variety of funds, but the policyholder does not own units in the funds directly. Instead, the policyholder owns a policy that entitles them to a share of the fund's assets.
  • What is the surrender value of TATA AIA fortune pro?

    The surrender value of Tata AIA Fortune Pro depends on the performance of the funds in which the premiums have been invested, the premium payment term, and the amount of premiums paid.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Please note that the quotes shown will be from our partners
*Tax benefit is subject to changes in tax laws
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
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