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 plan, 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.
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.
People also read: ULIP Calculator
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.
