Tata AIA Life Insurance has enhanced its long-term savings plan, Fortune Guarantee Supreme, to make disciplined saving easier and more affordable for customers facing rising household expenses and changing financial priorities. The enhanced plan introduces a ‘Premium Offset’ feature, under which policyholders need to pay premiums only for the first six years of a 12-year premium-paying term. The income benefit offered by the insurer can be used to offset the remaining six premiums, reducing the out-of-pocket burden and helping customers stay invested for the long term.
The plan also offers a guaranteed income option known as the ‘Power of 6’, which provides assured benefits with an Internal Rate of Return of over 6 per cent, subject to policy terms and conditions. The option is aimed at individuals seeking predictable income for goals such as retirement, children’s education and long-term family security.
Commenting on the enhancement, Amit Dave, President and Chief Distribution Officer – Proprietary Business and Allied Channels, said the product combines guaranteed benefits, income visibility and life protection, allowing families to plan for future milestones without financial strain. Fortune Guarantee Supreme is a non-linked, non-participating life insurance savings plan that provides guaranteed benefits along with life cover throughout the policy term. Eligible premiums qualify for tax benefits under Section 80C, while maturity and death benefits are exempt under Section 10(10D) of the Income Tax Act, subject to prevailing tax laws.