Tata AIA Life Insurance
Claim settlement ratio – 98.53% (FY 2022-23)
Critical Illness Benefit Available
Tax Benefit Amount 4 hours express claim
Accidental Death Benefit 100%
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TATA AIA Fortune Guarantee Plus is a savings plan offering assured security in manifold ways. This is a non-linked and non-participating individual life insurance savings plan from TATA AIA which allows assured income, coverage against 40 critical diseases, the option to avail return of premiums paid and tax benefit redemption among others. You just need to choose a few basic things like the term of premium payment, the term of receiving income, as well as the mode of payment and you can secure your life and the life of your dear ones the way you want.
The plan allows greater flexibility with options to choose between regular income plan or regular income with an in-built critical illness coverage benefit It also offers the freedom to choose from wide range of added riders to enhance the protective coverage Further, it allows the insured to choose joint life policy with the single payment of premium option In addition, the plan also offers the choice of premium payment options including single premium, regular premium and limited premium It also allows a return of premium at the end of income period and an enhanced health protection against 40 critical diseases
Like most other life insurance savings plan, the TATA AIA Fortune Guarantee Plus doesn’t cover suicide Thus, if the insured commits suicide within a year of buying the plan or from the date of revival of the plan, the nominee would be entitled to receive 80% of the total premiums paid till the death of the insured. Alternatively, the nominee may receive the surrender value of the policy if it is higher than the total premiums paid Once the payment is given to the nominee, the policy will be terminated and no further benefits will be paid to the family of the insured However, if the policy is a joint one and if any of the two life insured individuals commits suicide, the same provision will apply as aboveHere are some benefits of the plan:
Policy Brochure