Tata AIA Life Insurance Fortune Guarantee Pension (110N161V10)
Features
- Multiple annuity options to suit your needs
- High purchase price benefits to encourage you to save more
- Option to increase annuity through Top-up premiums
- Tax fits may be applicable on premiums paid and benefi¬ts received as per applicable tax laws
The Annuity Options available to customer/group members under this product are:
- Immediate Life Annuity
- Immediate Life Annuity with Return of Purchase Price
- Deferred Life Annuity (GA-I) and with Return of Purchase Price
- Deferred Life Annuity (GA-II) and with Return of Purchase Price
You can buy this plan in 3 simple steps:
-
Plan your Annuity needs –Choose the Purchase Price (premium of your policy) to buy Annuity -
Choose your Plan Option -
Receive Annuity payouts at the chosen mode – Monthly in arrears, quarterly in arrears, Half-yearly in arrears, Yearly in arrears or Yearly in advance
Eligibility Criteria
| Criteria | Minimum | Maximum | |||
|---|---|---|---|---|---|
|
Entry Age |
30 years |
Option 1 & 2: 85 years Option 3 & 4: 84 years Refer to footnote 4. Footnote 4: Annuity to start max at age 85 years. |
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Premium Payment Term |
Single Pay |
1 year |
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Regular/ Limited Pay |
5 years |
12 years |
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Deferment Period |
Single Pay |
1 year |
10 years |
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|
Regular Pay |
Equal to Premium Payment Term |
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Limited Pay |
Premium Payment Term + 1 |
Premium Payment Term + 5 years |
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Annuity Amount 2 Refer to footnote 2. (₹) |
• Yearly in arrears: ₹ 12 (in ‘000s) • Yearly in advance: ₹ 12 (in ‘000s) • Half Yearly in arrears: ₹ 6 (in ‘000s) • Quarterly in arrears: ₹ 3 (in ‘000s) • Monthly in arrears: ₹ 1 (in ‘000s) The minimum annuity instalment provided above shall be complied in all policy years. The above minimum annuity amount shall be inclusive of annuity booster, if applicable. |
No limit, subject to Board Approved Underwriting Policy |
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Purchase Price 3 Refer to footnote 3. |
Corresponding to minimum annuity amount above |
As per maximum annuity chosen |
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Group size |
5 |
No Limit |
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In case of Joint Life Annuities, age limits apply to both lives.
- Any reference to Age is as on last birthday.
- The minimum annuity instalment provided in the table above shall be complied in all policy years.
- The Purchase Price referred in the table above means total of all the premiums payable, excluding extra premium, any rider premium, taxes and other statutory levies, if applicable.
Brochures
Disclaimer
- The brochure is not a contract of annuity. The precise terms and conditions of this plan are specified in the policy contract available on Tata AIA Life website.
- This product brochure should be read along with Benet Illustration.
- This product is underwritten by Tata AIA Life Insurance Company Ltd. This plan is not a guaranteed issuance plan and it will be subject to Company’s underwriting and acceptance.
- Income Tax fits 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 implication mentioned anywhere in this document. Please consult your own tax consultant to know the tax fits available to you.
“ The Federal Bank Limited is a Corporate Agent having registration number - Regn. No. CA0227. The service provided by The Federal Bank Limited is purely an agency service and is carried out strictly on a non-risk participation basis. The Federal Bank Limited, as corporate agent does not underwrite the risk or act as an insurer. Participation by the Federal Bank’s customers in the insurance product is purely on a voluntary basis and is not linked to the availment of any other facility from the Federal Bank Limited.”
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Disclaimer
- The brochure is not a contract of annuity. The precise terms and conditions of this plan are specified in the policy contract available on Tata AIA Life website.
- This product brochure should be read along with Benefit Illustration.
- This product is underwritten by Tata AIA Life Insurance Company Ltd. This plan is not a guaranteed issuance plan, and it will be subject to Company’s underwriting and acceptance.
The Federal Bank Limited is a Corporate Agent having registration number - Regn. No. CA0227. The service provided by The Federal Bank Limited is purely an agency service and is carried out strictly on a non-risk participation basis. The Federal Bank Limited, as corporate agent does not underwrite the risk or act as an insurer. Participation by the Federal Bank’s customers in the insurance product is purely on a voluntary basis and is not linked to the availment of any other facility from the Federal Bank Limited.