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Individual Non-Linked, Non-Participating, Pension Plan (UIN: 110N175V04)
Tata AIA
Individual Non-Linked, Non-Participating, Pension Plan (UIN: 110N175V04)
Tata AIA
Create your perfect retirement plan with our customisable pension plan solution!
Create your perfect retirement plan with our customisable pension plan solution!
Pension benefits with life insurance coverage
Receive a 6% guaranteed* addition of the sum assured amount upon retirement to increase your retirement corpus.
Special discounts for Women, Transgender, and the Super Youth
*T&C apply
Get your free personalized quote
Get your free personalized quote
Are you an NRI?
Retirement se pehle, ya retirement ke baad. Raho life ki har stage ke liye taiyaar! Retirement is the time to live up every moment fikar-free, which is only possible when you have a sound financial plan.
With Tata AIA Fortune Guarantee Retirement Ready, enjoy these golden years of your life without worrying about the finances while you safeguard your loved ones with a protective life insurance cover!
3 Plan Options
You can choose between the My Pension, Partner Pension, and Partner Pension plan based on your financial requirements.
Pension Benefit with Life Coverage
Get Guaranteed* Additions
Vesting Additions1
Premium Payment Term
Smart Lady Discount~
Transgender Discount
Super 35 Discount~
Income Tax Benefits
Option 1 – My Pension
This is a single life option where on vesting (at the end of policy term), provided all due premiums have been paid, ‘Assured Benefit on Vesting’ shall be payable.
Option 2 – Partner Pension
In this plan option, if both the life insured are alive at the end of the policy term and have paid the premiums on time, they will receive a guaranteed amount.
Option 3 – Partner Pension Plus
This is a joint life option wherein if both life insured are alive when the policy ends, and they have paid all the premium payments, they will get a guaranteed amount called the ‘Assured Benefit on Vesting’.
This option also provides a Waiver of Premium (WoP) benefit in case of death of the primary life assured during the Premium Payment Term. Under this benefit provided the secondary life is alive, the future premiums are waived off by the Company so that the policy continues for the second life assured for complete policy benefits. Waiver of Premium is not applicable in case of death of the secondary life assured.
This option is available with Limited Pay and Regular Pay policies only. This choice is only available for policies where you have either a Limited Payment plan or a Regular Payment plan.
Eligibility Criteria
Plan Parameters |
Minimum |
Maximum |
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Age at Entry1 |
18 years |
Option 1 & Option 2 - 75 years Option 3:
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Age at Vesting1 |
40 years |
85 years |
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Premium Payment Term (PPT) |
Single pay Regular pay – 5 years Limited pay – 2 years |
Single pay Regular pay – 15 years Limited pay – 15 years |
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Policy Term (PT) |
Single pay – 5 years Regular pay – 5 years Limited pay – 6 years |
Single pay – 50 years Regular pay – 15 years Limited pay – 50 years |
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Sum Assured on vesting |
₹ 30,0002 |
No limit, subject to the Board Approved Underwriting Policy (BAUP) |
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Premium Payment Mode |
You have an option to pay the premiums either Single, Annually, Half-yearly, Quarterly and Monthly modes. Loading on premiums will be applicable as mentioned in the table below
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In case of joint life policy, the maximum age needs to be complied upon by the oldest of two lives.
In case of joint life policy, the minimum age needs to be complied upon by the youngest of two lives.
1Any reference to Age is as on last birthday
2Subject to Minimum Annualized Premium of ₹1,000
A retirement pension plan is an investment plan wherein you can secure funds for your life cover and accumulate a pool of funds for your retirement life. You can invest for the retirement corpus regularly over a period of time and receive a guaranteed income starting from maturity for your life after retirement when you are no longer employed.
A retirement pension plan will give you a steady flow of regular income upon maturity.
You can choose the accumulation period for your retirement plan based on your financial requirements. The funds invested in the policy will grow and increase in value during the long term.
The vesting age denotes the age at which you will receive Assured Vesting Benefit post the accumulation phase.
Upon reaching the vesting phase, you can withdraw a portion of the accumulated corpus to accomplish your future financial goals and utilise the remaining to purchase the annuity plans.
The investment made in the pension plans and their payouts will qualify for the tax deduction as per applicable income tax laws
The investments made in the retirement pension plan will acquire a surrender value over the policy period. However, surrendering is not a wise move as it can result in the excessive loss of investment benefits.
Decide the age at which you want to retire. You can choose as early as when you are 40 years old.
You can determine the life expectancy based on your family history, age, gender, and health conditions or use lifespan calculators available online.
Calculate the expenses based on your routine grocery requirements, medical needs, utility bills, clothing and vacation, etc.
Calculate the funds required to accomplish your future financial goals, if any, such as your child’s education, marriage, etc., that you have planned for the future.
Unexpected incidents, such as an accident, medical emergency, etc., can vanish your savings in the future. Therefore, keep an emergency fund to handle financial inconsistencies and secure the retirement corpus.
After realising the funds required for your future, as detailed above, account for the inflation rate and find the present value for your future expenses.
If you have saved or invested in other financial products, subtract its value from the above-calculated amount to derive the required retirement corpus.
Analyse your current lifestyle and decide on an affordable monthly or regular investment amount.
You can decide on the policy period based on the years to retirement and life expectancy.
Analyse and compare the varied retirement pension plans and choose a product with the required sum assured that can serve your financial needs and is affordable for the long term.
Retirement planning is one of the most crucial aspects of financial planning and needs attention to detail. Here are a few tips that can help during the long-term investment.
Set Your Financial Goals
Make A Budget
Account For Inflation
Diversify Investment Portfolio
Choose A Long-Term Pension Plan
Start Early
Consider Your Affordability and Risk Profile
Use Retirement Plan Calculators
Our experts are happy to help you!
What is a monthly pension plan?
A monthly pension plan is a retirement pension plan wherein you can secure funds for a life cover and accumulate a pool of funds over a period of time to receive a guaranteed regular income starting from the vesting age for your life after retirement.
What are the factors to consider while purchasing a pension plan?
Current income
Future financial commitments and goals
Routine expenses
Inflation rate
Years to retirement
Life expectancy
Affordability
What are the benefits of an effective retirement pension plan?
Continue your current lifestyle seamlessly after retirement
Get a life cover
Make cost-efficient financial decisions
Have peace of mind
Maximise tax deduction and exemption benefits
Choose from varied, flexible pension plan options
Ensure long-term savings
What is an annuity?
An annuity is a financial contract between you and your insurance provider, wherein you can make a lump sum payment to your insurance provider, and they will agree to provide a regular income either starting immediately or in the future.
What are the types of annuity plan options?
The two most common types of annuity plan options are the Immediate and the Deferred annuity plans.
Immediate Annuity - With the immediate annuity plan option, you can start receiving the regular income immediately after you purchase the annuity plan.
Deferred Annuity - With the deferred annuity plan option, you will start receiving the regular income after a certain period as required based on your financial needs.
How to choose the best pension plan?
The best pension plan for your retirement will be based on your individual financial needs. Here is how you can make a valuable choice.
Analyse your current financial condition.
Find the years to retirement.
Determine the routine expenses and future financial commitments that will incur in your life after retirement and account for the inflation rate.
Decide on the required funds based on the above-determined values and subtract your savings and investments. You will derive the most approximate value for the required retirement corpus.
Analyse and compare the different pension plans and choose the best pension plan that can serve your financial needs and is affordable over the long term.
Who should purchase the Tata AIA Fortune Guarantee Retirement Ready Policy?
Everyone must plan for retirement early in life to lead a peaceful and financially independent life. However, purchasing the Tata AIA Fortune Guarantee Retirement Ready Policy is important for people:
Planning for their retirement early in life
Having dependents throughout their life
Who do not have financial support from their family members
Who want to continue their current lifestyle and lead an independent life
Is there a joint life option under the Tata AIA Fortune Guarantee Retirement Ready Policy?
There are three plan options: My Pension, Partner Pension, and Partner Pension Plus. The My Pension plan is a single life option, and the Partner Pension and the Partner Pension Plus are joint life policies.
What is the difference between Partner Pension and Partner Pension Plus plan options?
The vesting and death benefits are similar in the Partner Pension and Partner Pension Plus plan options. However, in addition to these benefits, there is the Waiver of Premium benefit in the Partner Pension Plus plan option.
Under this benefit, in case of the unexpected death of the primary life assured during the Premium Payment Term, the future premiums are waived off so that the policy continues for the second life assured and the related policy benefits. However, the benefit is not applicable in case of death of the secondary life assured. Furthermore, the Partner Pension Plus option is available only for the Limited and the Regular Premium payment options.
Can I utilise the surrender benefit to purchase annuity plans?
You can utilise the surrender value paid:
To commute up to 60% and utilise the remaining to purchase our annuity plans.
To purchase annuity plans from other insurance providers to the extent applicable, currently 50% of the entire proceeds net of commutation value.
How much is the required sum assured for my pension plan?
The extent of the sum assured required for your pension plan will be based on your income, current lifestyle and future financial goals. The sum assured should suffice for your regular income for life after retirement to manage routine expenses and other unexpected financial emergencies. You can utilise the retirement calculators available online to calculate the funds required considering the inflation rate.
Who can be covered for Secondary Life in the joint life policies?
In a joint life policy, the secondary life can be the spouse, parent, child, grandparent, grandchild, parent-i-law, or sibling of the primary life. And in the case of other relationships, the insurable interest will be examined and considered based on our Board Approved Underwriting Policy (BAUP).
What are the premium payment term options available for the policy?
Three premium payment term options exist:
Single - You can make the premium payment as a one-time payment during policy inception.
Limited Term - You can pay the premium for a limited term while ensuring the benefits throughout the policy period.
Regular Term - You can pay the premium regularly throughout the policy period. It can be either the monthly, quarterly, semi-annual or annual modes of payment.
What is the waiver of premium benefit under Option 3?
In case of death of primary life during the premium payment term, provided the secondary life is alive and all due premiums have been paid, the outstanding premiums shall be waived off, and the policy shall continue until the death of secondary life or vesting, whichever is earlier.
Once the waiver of the outstanding premium benefit is triggered, no alterations under the policy will be allowed thereafter.
What is the grace period?
The grace period is 15 days for the monthly premium payment mode and 30 days for all the other modes from the actual due date.
When does a policy lapse?
The policy will lapse, and no benefits will be paid on discontinuance of the payment of the premium during the first two policy years. However, it can be revived within 5 years from the due date of the first unpaid premium by paying all the due premiums with the applicable interest.
Can I revive my policy if I have not paid the premium beyond the grace period?
You can reinstate or revive the policy within 5 years after the due date of the first unpaid premium and before the maturity date, subject to the policy conditions.
What is a reduced paid-up policy?
If you have stopped paying the premiums after the policy has acquired a surrender value, the policy will be made paid-up at the end of the grace period. The benefits applicable to reduced paid-up policies, subject to the policy terms and conditions, are as follows:
Death benefit
Maturity/ Vesting benefit - Aggregate of paid-up sum assured on vesting, guaranteed additions (accrued before the policy became paid-up), paid-up guaranteed additions (accrued after the policy became paid-up), vesting addition based on reduced paid-up factor.
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Disclaimer
Tata AIA Fortune Guarantee Retirement Ready Plan - (UIN: 110N175V04) - Individual Non-Linked, Non-participating, Pension Plan
#Income Tax benefits would be available as per the prevailing income tax laws, subject to fulfillment of conditions stipulated therein. Income Tax laws are subject to change from time to time. Tata AIA Life Insurance Company Ltd. does not assume responsibility on tax implication mentioned anywhere in this document. Please consult your own tax consultant to know the tax benefits available to you
*Guaranteed Additions accrue at the end of each completed policy year, subject to all due premiums being paid and form a part of the Death Benefit offered under the option.
This product is underwritten by Tata AIA Life Insurance Company Ltd. The plan is not a guaranteed issuance plan and it will be subject to company’s underwriting and acceptance. Insurance cover is available under this product.
For more details on risk factors, terms and conditions please read Sales Brochure carefully before concluding a sale.
~Smart Lady - 2% on First Year’s Premium specially for women customers , Transgender discount - 2% on First Year’s Premium specially for transgender customers, Super 35 – Special discount of up to 2% on First Year’s Premium for customers who are less than 35 years of age.
1Vesting benefit is the assured benefit on vesting that shall be payable at the date of maturity of policy provided the Policy is in-force and all due Premiums have been paid.
This product is underwritten by Tata AIA Life Insurance Company Ltd. The plan is not a guaranteed issuance plan, and it will be subject to company’s underwriting and acceptance.
Insurance cover is available under this product.
Policies sourced through PoS Channel will not have any medical examination. This plan is not a guaranteed issuance plan, and it will be subject to Company’s underwriting and acceptance.
Premium excludes the taxes, rider premiums, underwriting extra premiums, loading for modal premiums if any.
For more details on risk factors, terms and conditions please read Sales Brochure carefully before concluding a sale. The precise terms and conditions of this plan are specified in the Policy Contract.
Risk cover commences along with policy commencement for all lives, including minor lives.
Buying a Life Insurance Policy is a long-term commitment. An early termination of the Policy usually involves high costs, and the Surrender Value payable may be less than the all the Premiums Paid.
In case of non-standard lives and on submission of non-standard age proof, extra premiums will be charged as per our underwriting guidelines.
For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale.
L&C/Advt/2025/Mar/1447
FOR EXISTING POLICY 
FOR NEW POLICY 
