Tata AIA Life Insurance has enhanced its Fortune Guarantee Supreme savings product 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 enhancement reflects insurers’ efforts to address demand for products combining long-term financial protection with predictable savings. The plan offers policy terms of 20 to 50 years, subject to eligibility, and premium payment periods of five to 12 years. Premiums can be paid annually, half-yearly, quarterly or monthly.
The product has a minimum annual premium of ₹24,000, with no upper limit subject to underwriting. Entry begins at 30 days of age, and the maximum maturity age is 100 years. Risk cover commences with the policy, including for minor lives. Optional riders are available at additional cost.
Shruti Oke, senior vice-president and head of product management at Tata AIA Life Insurance, said the enhancement combines higher life protection with guaranteed savings to meet the evolving financial planning needs of Indian families.
The Benefit Protection Rider provides for waiver of future premiums under specified circumstances, while the Terminal Illness with Term Booster Benefit can increase total cover to up to 40 times the annual premium, subject to conditions.
The company has indicated an internal rate of return (IRR) of 7.06%, depending on entry age, premium and policy term. Returns, benefits and tax advantages remain subject to policy conditions, underwriting and prevailing laws.
