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In Unit Linked Insurance Policies, the investment risk is borne by the policyholder. These insurance products do not offer any liquidity in the first 5 years, as they have a mandatory lock-in period of 5 years. During this period, the policyholder cannot fully or partially withdraw the invested amount or surrender the policy.
Tata AIA Shubh Fortune Plan
Tata AIA Shubh Fortune is a Unit Linked Insurance Plan (ULIP) designed to help you build wealth for life’s key milestones, such as your child's education, family aspirations, and a secure retirement. With planned payouts, long-term wealth growth, and comprehensive financial protection, this plan ensures that your family’s dreams are within reach, all while providing stability and peace of mind.
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Features of Tata AIA Shubh Fortune Plan
Following are the key features of the Tata AIA Shubh Fortune Plan:
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Timely Payouts for Education & Life Goals: This ULIP plan gives you payouts at key milestones, such as your child’s higher education or when you retire, helping you achieve your family’s important goals.
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Secure Investment: The premiums you pay are protected, ensuring that a lump sum amount is paid out to your loved ones in case of unforeseen events.
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Long-Term Wealth Growth: Grow your money consistently with top-rated funds (4 or 5 stars by Morningstar). This ensures your investments grow steadily over time.
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Life Protection: This plan provides life coverage throughout the policy term, ensuring your family’s financial security in case of an emergency.
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Premium Waiver: The Benefit Protect Rider ensures that if something happens to you, future premiums are waived off, keeping your child’s future safe.
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Protection under MWPA: Under the Married Women’s Property Act (MWPA), the benefits of the policy are protected for your family and are safe from creditors or lenders.
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Tax Benefits: You can avail of tax benefits on premiums paid and policy payouts under Section 80C and Section 10(10D), as per prevailing tax laws, to optimize your savings.
Who Can Buy Tata AIA Shubh Fortune Plan?
This plan is perfect for:
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Parents who want to plan for their child’s education and future.
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Families who are aiming to achieve major life goals, like buying a house or saving for retirement.
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Individuals who want to ensure they have a worry-free retirement.
Tax Benefits of Tata AIA Shubh Fortune Plan
The tax benefits of the Tata AIA Shubh Fortune Plan are as follows:
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Tax Deduction on Premiums: Premiums paid for Tata AIA Shubh Fortune ULIP are eligible for tax deductions under Section 80C, up to ₹1.5 lakh per financial year.
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Tax-Free Maturity Benefits: Maturity proceeds are tax-exempt under Section 10(10D), provided:
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For policies issued after April 1, 2012, the annual premium does not exceed 10% of the sum assured. Total premiums across all ULIPs are under ₹2.5 lakh per year.
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For policies issued before this date, premiums should be below 20% of the sum assured.
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Tax-Free Death Benefits: In case of death, the sum assured paid to the nominee is tax-free under Section 10(10D), irrespective of premium limits.
Latest ULIP NAVs
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Benefits of the MWPA Act in Tata AIA Shubh Fortune Plan
The Married Women’s Property Act (MWPA) ensures that the benefits from your policy are protected for your family. It prevents these benefits from being claimed by creditors or lenders, providing added security for your loved ones.
How Can You Plan Your Investments in the Tata AIA Shubh Fortune Plan?
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Set Clear Goals: Start by deciding what’s important for your family, whether it’s funding your child’s education, buying a house, or saving for retirement.
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Start Early: Invest early so that your wealth grows steadily over time, helping you prepare for rising costs and unexpected financial challenges.
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Stay Stress-Free: With a solid financial plan in place, you can enjoy life’s milestones without worrying about money.
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Keep Your Family Secure: Ensure your family’s future and retirement planning are safe with a plan that balances both your goals and financial security.
FAQs
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What is the Tata AIA Shubh Fortune Plan?
The Tata AIA Shubh Fortune Plan is a financial plan that helps you build wealth for your family’s important goals, like education, retirement, and other life milestones. -
Who can avail Tata AIA Shubh Fortune Plan?
The Tata AIA Shubh Fortune Plan is ideal for parents for their child education plan, individuals preparing for retirement, or families aiming for long-term financial goals. -
How does the Tata AIA Shubh Fortune Plan provide financial protection?
This Tata AIA ULIP plan provides life coverage throughout the policy term, ensuring financial security for your loved ones in case of unforeseen events. -
What is MWPA in the Tata AIA Shubh Fortune Plan?
MWPA (Married Women’s Property Act) ensures that the benefits of the Tata AIA Shubh Fortune Plan are protected for your family and are safe from creditors or lenders. -
How does the Premium Waiver Benefit work in the Tata AIA Shubh Fortune Plan?
The Premium Waiver Benefit in the Tata AIA Shubh Fortune Plan ensures that if something happens to you, future premiums are waived off, and your child’s future remains secure.
Insurers Offering ULIPs
Disclaimer: Policybazaar Insurance Brokers Private Limited does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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˜The insurers/plans mentioned are arranged in order of highest to lowest first year premium (sum of individual single premium and individual non-single premium) offered by Policybazaar’s insurer partners offering life insurance investment plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI. Policybazaar Insurance Brokers Private Limited does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
^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.
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
++Source - Google Review Rating available on:- http://bit.ly/3J20bXZ