TATA AIA Life Insurance Fortune Guarantee Pension Plan

• What is a Deferment Period? What is the available deferment period in this plan? 
  The Deferment Period is the number of years after which you can avail the annuity payouts from the plan. The Deferment Period for the Tata AIA Fortune Guarantee Pension Plan is a minimum of 1 year and a maximum of 10 years for Single Pay, equal to premium payment term for Regular Pay and a minimum of 1 year plus the Premium Payment Term to a maximum of 5 years plus the Premium Payment Term for Limited Pay.
   
• Do I get any surrender benefits with this pension plan? 
  While the Immediate Life Annuity option does not offer any surrender benefits, the other options acquire surrender value depending on the premium payment mode. For a Single Pay plan, the policy acquires surrender value any time after the policy’s date of commencement, while for a Regular/Limited Pay plan, the policy acquires surrender value after at least 12 full years’ premium has been paid. 
  
  
• Does this plan have a free look period? 
  The free look period for this plan is a period of 30 days from the date of the annuitant receiving the policy document. 
  
  
• What are the annuity options under this pension plan? 
  The annuity options under this pension plan are as follows: 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. 
  
  
• What are the premium payment terms available with this plan? 
  The Tata AIA Fortune Guarantee Pension plan offers three premium payment terms - Single Pay, Limited Pay and Regular Pay. 
  
  
• Does the plan offer a grace period and a revival period? 
  Yes. This plan has a grace period of 30 days for the annual, half-yearly and quarterly premium payment frequencies from the due date of the premium. However, for the monthly premium payment frequency, the grace period is 15 days from the premium due date. 
  
  Revival Period is equal to 5 years from the date of first unpaid premium. The policy may be reinstated before the end of deferment period. 
  

The complete name of Tata AIA Fortune Guarantee Pension Plan is Tata AIA Life Insurance Fortune Guarantee Pension Plan (UIN:110N161V10) - A Non-Linked Non-Participating Annuity Plan 

• The word Guaranteed, and Guarantee means the annuity payout is fixed at inception of the policy and will be payable for whole of life or till death of the Annuitant(s). 
  
  
• Under all non-single pay options, annuity payment / payout referred hereafter shall mean to comprise of base annuity plus applicable annuity booster 
  
  
• Tax benefits of up to ₹46,800 u/s 80C is calculated at highest tax slab rate of 31.20% (including cess excluding surcharge) on life insurance premium paid of ₹1,50,000. Tax benefits under the policy are subject to conditions laid under Section 80C, 80D,10(10D), 115BAC and other applicable provisions of the Income Tax Act,1961. Good and Service tax and Cess, if any will be charged extra as per prevailing rates. The Tax-Free income is subject to conditions specified under section 10(10D) and other applicable provisions of the Income Tax Act,1961. Tax laws are subject to amendments made thereto from time to time. Please consult your tax advisor for details, before acting on above. 
  
  
• Income Tax benefits would be available as per the prevailing income tax laws, subject to fulfilment 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 benefits available to you 
  
  
• For more details on risk factors, terms and conditions please read Sales Brochure carefully before concluding a sale. 
  
  
• Guaranteed Additions accrue at the end of each completed policy month, subject to all due premiums being paid and form a part of the Death Benefit offered under the option. 
  
  

  Product Option Immediate Life Annuity with Return of Purchase Price is available under PoS as well.  
  
  

  This product is underwritten by Tata AIA Life Insurance Company Ltd. The plan is not a guaranteed issuance plan and it will be subject to company’s underwriting and acceptance. Insurance cover is available under this product. 
  
  

  HDFC Bank Limited (4621612) (IRDAI Registration No: CA0010) is the Corporate Agent of Tata AIA Life Insurance Company Limited and does not underwrite the risk or act as an insurer. HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400 013. Participation by the Bank’s clients in the Insurance products is purely on a voluntary basis. The contract of Insurance is between Tata AIA Life and the Insured and not between HDFC Bank and the Insured. 
  
  

  Tata AIA Life Insurance Company Limited (IRDAI Regn, No. 110) CIN : U66010MH2000PLC128403. Registered & Corporate Office : 14th Floor, Tower A, Peninsula Business Park, Senapati Bapat Marg, Lower Parel, Mumbai - 400013. Trade logo displayed above belongs to Tata Sons Ltd and AIA Group Ltd. and is used by at Tata AIA Life Insurance Company Ltd under a license. For any information including cancellation, claims and complaints, please contact our Insurance Advisor / Intermediary or visit Tata AIA Life's nearest branch office or call 1-860-266-9966 (local charges apply) or write to use customercare@tataaia.com. Visit us at: www.tataaia.co
  
  

L&C/Advt/2024/Nov/3571 

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