Tata AIA Life Insurance introduces new pension plan

 Tata AIA Life Insurance, one of India’s leading Life Insurance Companies, has introduced a more powerful version of its flagship annuity plan, Tata AIA Life Fortune Guarantee Pension. The plan caters to a diverse set of customers, including the married, women and individuals wanting to seriously consider saving to maintain their current lifestyles for the future. It is also a very suitable option for SME customers who need to ensure a security net for themselves in their life. 

The plan is an ideal solution for consumers seeking a suitable and secured retirement income, and for retired consumers who want to increase their retirement kitty by investing any surplus funds into a guaranteed life insurance solution, can take advantage of Fortune Guarantee Pension.

Fortune Guarantee Pension offers immediate annuity payouts as per the chosen frequency during the annuitant’s lifespan. It also offers Immediate Life Annuity with Return of Purchase Price, wherein the amount paid at the time of purchase is paid back as a death benefit. Guaranteed Additions are accumulated at the end of every policy month during the Deferment Period. 

This option allows you to avail the annual annuity payout in advance. You can get a loan on the policy, six months after the policy’s commencement. Under Joint Life option, you can take a loan which the secondary annuitant can avail in case of your death. Wherein the Primary Annuitant is the person entitled to receive the Annuity Payouts. Secondary Annuitants (spouse/ child/ parent/ parent-in-law or sibling) are entitled to receive the Annuity Payouts in the event of death of the Primary Annuitant, as applicable.

Commenting on the occasion, Samit Upadhyay, Chief Financial Officer, Tata AIA Life Insurance, said, " Tata AIA Life Fortune Guarantee Pension is an excellent financial tool to achieve that goal. The plan helps our consumers save enough before they retire and ensures stable income when the regular salary income stops.”

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