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Investment Plans 571 views January 25, 2022
Are you planning for the financial security of your near and dear ones? If yes, consider Tata AIA Fortune Maxima, a non-participating, unit-linked, whole life plan that allows you to maximize your corpus with the power of market-driven growth. Here, your investment is made based on medium to long-term goals such as children’s education, retirement planning, etc. This Tata AIA life insurance plan comes with the following features –
Let’s know more about the Tata AIA Fortune Maxima Plan below.
Table of Contents
Tata AIA Life Insurance will provide you or the nominated person the following benefits –
The company will pay a benefit amount on survival till the end of the policy term, which is total fund value. And the maturity benefit is equal to the sum of the regular or single premium fund value and top-up premium fund value as per the NAV on the date of maturity.
In case of your death, your nominee or legal heir will get the highest of
In addition to the above, the company pays the highest of
If any partial withdrawals are made during the last two years preceding the date of death, the same will be reduced from the death benefit payout.
An additional unit at the rate of 0.20% will be allocated to your funds under the regular premium account every policy anniversary starting from the 11th year till the end of the policy term. In the case of a single pay premium plan, the additional units will be allocated at the rate of 0.35% of units in each of the funds under the single premium account starting from the sixth policy anniversary till the end of the policy term. The loyalty additions will be credited only if the policy is in force and you have paid all your due premiums. It is not payable on a top-up premium account.
The policy term is 100 minus the entry age under the Tata AIA Fortune Maxima Plan. And the premium paying term is –
You can pay – Single, Annual, Semi-Annual, Quarterly, Monthly
The minimum premium amount is
Whereas the maximum premium amount is
The minimum and maximum sum insured
Note – AP refers to the Annualised Premium amount payable in a year excluding the taxes, rider premiums and underwriting extra premiums on riders if any.
The set of unit-deducting riders available under the Tata AIA Fortune Maxima Plan is –
For Single Pay:
Under the Tata AIA Fortune Maxima Plan, the insurance company offers you the flexibility to invest in a manner that suits your investment risk profile and needs. You can choose from the 11 investment fund options or the following strategies.
The investment funds range from 100% debt to 100% equity that is as follows –
If you wish to diversify the risk, you can allocate premiums in varying proportions amongst the 11 funds. It gives you the flexibility to redirect future premiums and change your premium allocation percentages. Also, you can switch money from one fund to another at any time. However, switches can be done within the funds offered under this Tata AIA Life Insurance Plan. In case of exceptional circumstances or force majeure events, investment in Cash or Money Market Instruments may go up to 100%, subject to prior approval of the Insurance Regulatory and Development Authority of India (IRDAI). Exceptional circumstances are –
Political or communal disturbance affects the economy and in turn impacts severely on the Fixed Income or Equity market.
The life insurance company reserves the right to defer the payment of benefits other than death benefit for up to 30 days in case of exceptional circumstances.
To purchase this ULIP Plan from Tata AIA Life Insurance, you need to meet the below age criteria –