Tata AIA Life Insurance has enhanced its Fortune Guarantee Supreme savings plan with a High Life Cover Endowment Option, offering life cover of 30 times the annual premium from Day 1 alongside a guaranteed lump sum maturity benefit, subject to policy terms and conditions.
The enhanced option is designed to combine long-term financial protection with savings for future milestones. Policy terms range from 20 to 50 years, subject to eligibility, while premium payment terms range from five to 12 years. Premiums can be paid annually, half-yearly, quarterly or monthly.
The plan offers entry from 30 days of age, a maturity age of up to 100 years and a minimum annual premium of ₹24,000, with no upper limit subject to underwriting. Optional riders are also available to enhance protection.
Shruti Oke, senior vice-president and head of product management at Tata AIA Life Insurance, said the enhancement brings together higher life protection and guaranteed savings to address the evolving financial planning needs of Indian families.
The company said the Benefit Protection Rider provides for waiver of future premiums in specified circumstances, including death or terminal illness, subject to rider conditions. The Terminal Illness with Term Booster Benefit can increase the overall life cover to up to 40 times the annual premium, subject to applicable terms.
The plan’s illustrated internal rate of return (IRR) is 7.06%, depending on the policyholder’s entry age, premium and policy term. Actual benefits and tax treatment are subject to policy conditions, underwriting and prevailing laws.