Tata AIA Life Insurance has updated its long-term savings plan, Fortune Guarantee Supreme, to make saving easier and more predictable.
The plan now includes a ‘Premium Offset’ feature, allowing customers to pay premiums for only the first six years of a 12-year term, with the remaining six premiums covered by the plan’s income benefit. The structure aims to address customer reluctance toward sustained premium payments amid rising household costs.
The plan also offers a ‘Power of 6’ option, providing guaranteed income and benefits with an internal rate of return of up to 6%, aimed at retirement, education, or long-term financial stability. The option targets individuals seeking predictable income streams for retirement planning and other long-term financial goals.
Fortune Guarantee Supreme is an individual, non-linked, non-participating plan with life cover and tax benefits under Sections 80C and 10(10D) of the Income Tax Act.
Mr Sujeet Kothare, Chief of Products, Marketing, Corporate Communications & Business Mid Office at Tata AIA, said the enhancement shares the responsibility of saving with customers while making disciplined saving simpler and more sustainable.