Tata AIA Life Insurance has enhanced its long-term savings plan, Fortune Guarantee Supreme, to make saving simpler and more affordable for its customers. The plan’s new features aim to ease the financial burden of long-term commitments, allowing customers to stay invested without the pressure of paying premiums throughout the entire term. The key feature of this enhancement is the “Premium Offset” proposition, which enables customers to pay premiums for only the first six years of a 12-year premium-paying term. The remaining six premiums can be offset with the income benefit offered by Tata AIA, reducing the out-of-pocket commitment and making long-term saving more manageable.
This feature is particularly beneficial in an environment where rising costs and taxes can make long-term financial commitments feel overwhelming. According to Jeelani Basha, Chief Distribution Officer at Tata AIA Life Insurance, the Premium Offset feature and predictable income benefits make long-term saving easier and more manageable, allowing consumers to stay on track with their financial goals without the stress of rising costs.
In addition to the Premium Offset feature, Fortune Guarantee Supreme offers customers the option to receive a guaranteed income and other guaranteed benefits with an attractive Internal Rate of Return (IRR) of 6% or more, subject to policy terms and conditions. This feature, known as the “Power of 6”, is designed for individuals seeking certainty and regular income in the future, whether to support post-retirement needs, long-term family goals, or financial stability during later life stages.
The “Power of 6” variant is built for individuals planning for life goals such as children’s education, retirement, and income security, and combines assured returns with life insurance protection to deliver greater confidence in financial planning. With this enhancement, Tata AIA Life Insurance aims to provide its customers with a more secure and predictable path for the future, making it easier for them to achieve their long-term financial goals. Overall, the enhanced Fortune Guarantee Supreme plan offers a unique and attractive solution for individuals looking to save for the long term without the burden of high premiums.