Do I have to submit a separate claim for the rider benefits?

Yes, you must file a separate claim for the rider benefits, which are applicable when the insured experiences events covered by the rider, such as accidental death, disability, or waiver of premium, as outlined in the rider's terms and conditions.

Can I make partial withdrawals from Tata AIA Fortune Pro WOP ULIP Plan?

The Tata AIA Fortune Pro plan has a lock-in period of 5 years, during which partial or complete fund withdrawals are not allowed. After 5 years from policy issuance and while the policy is active, a minimum partial withdrawal of Rs 5000 is permitted under the regular premium option, subject to the total fund value. For policies bought for minors, partial withdrawals are only possible once the insured turns 18, with up to four free partial withdrawals annually.

Can I increase my sum assured with this ULIP?

Yes, you can top up your sum assured with this Unit-Linked Insurance Plan. Once you opt for this feature, the top-up sum will remain unchanged throughout the policy term.

Tata AIA Fortune Pro WOP

Tata AIA Fortune Pro WOP Plan is a Unit Linked Individual Life Insurance Savings Plan designed to offer flexibility in policy duration, aligning with various financial needs and growth preferences. It allows for savings to achieve medium to long-term goals like education, retirement planning, and wealth creation.

Investing in your child's future:A wise decision & a loving choice

Benefits of Investing In Child Plan

Waiver of Premium Benefit

Future Premiums are paid by the insurer upon death of policyholder

Flexible Payout Options

Your premiums help your child achieve their dreams through lump sum or regular payouts

Wealth Boosters

Get rewarded with Wealth Booster and Loyalty Bonus for staying invested with us

Zero Commission

We charge no commission when you buy from us. Also buy online & get extra

Tax Benefits^

You get tax benefits under Section 80(C) and no tax on returns under Section 10 (10D)

Investment Flexibility

It offers the flexibility to invest at regular intervals or as a one-time contribution

Nothing Is More Important Than Securing Your Child's Future

Invest ₹10k/month your child will get ₹1 Cr^# Tax-Free* on Maturity

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Disclaimer: #The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CAGR 8%; ₹50,45,591 @ CAGR 4%. *Tax benefits and savings are subject to changes in tax laws. All plans listed here are of insurance companies’ funds.

What is Tata AIA Fortune Pro WOP Plan?

Tata AIA Fortune Pro is a Unit Linked Individual Life Insurance Savings Plan. This plan combines life insurance coverage with the potential for growth through investment in unit-linked funds.

You can choose a policy term that fits your needs, whether it's for your child's education, retirement planning, or long-term wealth creation. The plan also allows you to adjust your investment strategy based on your risk appetite to achieve your desired level of growth.

Tata AIA Fortune Pro goes beyond just savings and investment. You can add a Waiver of Premium (WOP) rider to your plan. This rider ensures that your life insurance coverage continues even if you are unable to pay premiums due to death or total permanent disability. With the WOP rider, the rider waives off future premiums, helping secure your family's financial future even in unforeseen circumstances.

Features of Tata AIA Fortune Pro WOP Plan

Below are the key features of Tata AIA Fortune Pro WOP Plan:

Flexible Premiums: Pay a lump sum or spread payments over a limited period.
Investment Boost: Get regular loyalty additions to increase your investment returns.
Investment Choice: Choose from 20 different fund options to suit your risk appetite.
Customizable Coverage: Add optional riders for broader protection.
Investment Strategies: Use systematic money allocation or regular transfers to optimize your investment approach.

Eligibility Criteria for Tata AIA Fortune Pro WOP Plan

Parameters

Minimum Issue Age (Age last birthday)

0 years (30 days)

Maximum Issue Age (Age last birthday)

65 years

Minimum Maturity Age (Age last birthday)

18 years

Maximum Maturity Age (Age last birthday)

80 years

Policy Term

6 to 40 years

Premium Paying Term

Single Pay
Limited Pay – 5 to 20 years
Regular Pay – 12 to 40 years

Pay Mode

Single, Annual, Semi-Annual, Quarterly, Monthly

Minimum Premium

Single Pay – ₹25,000 Regular/Limited Pay – ₹12,000 per annum

Maximum Premium

Single Pay – ₹5,00,000 Regular/Limited Pay – ₹5,00,000 per annum

Minimum Basic Sum Assured

For Single Pay – 1.25 times the Single Premium For Regular / Limited Pay – 7 * AP

Maximum Basic Sum Assured

For Single Pay –

	Max Multiple of Single Premium
Entry Age / Policy Term	Up to 10	11 to 20	>20
< =35	10	5	1.25
36 to 40	7	5	1.25
41 to 45	5	1.25	1.25
> 45	1.25	1.25	1.25

For Regular / Limited Pay –

Entry Age Band

Maximum Multiple of AP

0 to 29

30 to 35

36 to 45

Higher of the (Policy Term/ 2 or 15)

46 to 65

Higher of the (Policy Term/ 2 or 10)

*AP = Annualised Premium. It is the premium to be paid in a year and does not include taxes, rider premiums, and underwriting on extra premiums for riders, if any.

Benefits Under Tata AIA Fortune Pro WOP Plan

Here are the key benefits of Tata AIA Fortune Pro WOP Plan:

Maturity Benefit:
- Upon surviving the entire policy term, you'll receive the Total Fund Value. This combines the value of your Regular/Single Premiums and top-up premiums (if any), all invested in different funds, based on the Net Asset Value (NAV) on the maturity date.
Death Benefit:
- In case of the policyholder's unfortunate demise during the policy term, the nominee/legal heir will receive the highest amount among the following:
  - Basic Sum Assured: This is the guaranteed death benefit amount minus any deductions for partial withdrawals made in the last two years before death (if applicable).
  - Regular/Single Premium Fund Value: This is the current value of your policy's accumulated units in the chosen funds.
  - 105% of Total Paid Premiums: This ensures a minimum payout even if the other options provide a lower amount.
- Additionally, if you've opted for Top-up premiums, the nominee will receive the highest of:
  - Approved Top-up Sum Assured(s)
  - Top-up Premium Fund Value
  - 105% of Total Top-up Premiums Paid:
Important Note: Deductible partial withdrawals made in the two years before death won't affect the Top-up Sum Assured payout.
Loyalty Additions (Regular/Single Premium Accounts Only):
- To reward your long-term commitment, the plan offers loyalty additions starting from specific policy anniversaries.
  - Regular Pay Option: You'll receive additional units at a rate of 0.20% of the units held in each fund, credited annually from the 11th policy anniversary onwards.
  - Single Pay Option: You'll receive additional units at a rate of 0.35% of the units held in each fund, credited annually from the 6th policy anniversary onwards.
- These loyalty units are added after deducting any applicable charges and are only credited if the policy is active with all premiums paid up-to-date.
- Loyalty Note: Top-up Premium Accounts are not eligible for Loyalty Additions.
Waiver of Premium (WOP) Rider Benefit:
- By adding the optional WOP rider to your plan, you can ensure your premiums are waived off in case of unforeseen circumstances.
- If the policyholder suffers from death or total permanent disability during the policy term, the WOP rider ensures future premiums are waived while the policy benefits remain active.

Invest More Get More

Invest ₹10K/Month YOU GET ₹1 Crores^* For Your Child View Plans

Invest ₹8K/Month YOU GET ₹80 Lakhs^* For Your Child View Plans

Invest ₹5K/Month YOU GET ₹50 Lakhs^* For Your Child View Plans

Standard T&C Apply *

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Riders Under the Tata AIA Fortune Pro WOP Plan

Tata AIA Life Insurance Accidental Death and Dismemberment (Long Scale) (ADDL) Linked Rider (UIN: 110A027V02):
- Provides financial protection for your family in case of accidental death.
- Pays a benefit for severe accidental dismemberment.
- Double benefit for certain accidental death/dismemberment cases.
- Available for ages 18-60 (entry) and up to maturity age 70.
Tata AIA Life Insurance Waiver of Premium (Linked) Rider (UIN: 110A026V02):
- Waives future premiums if you become totally and permanently disabled.
- The disability must occur before age 65 or the premium payment term ends (whichever is sooner).
- Available for ages 18-60 (entry) and up to maturity age 65.
Tata AIA Life Insurance Waiver of Premium Plus (Linked) Rider (UIN:110A025V02):
- Waives future premiums upon death or total and permanent disability.
- Death/disability must occur before age 70 or the premium payment term ends (whichever is sooner).
- Available for ages 18-65 (entry) and up to maturity age 70.
The set of premium-paying riders are as below:
- Tata AIA Vitality Protect Plus (UIN: 110A048V01 or any later version)
- Tata AIA Vitality Health Plus (UIN: 110A047V01 or any later version)
- Tata AIA Life Insurance Linked Comprehensive Health Rider (UIN: 110A031V02 or any later version)
- Tata AIA Life Insurance Linked Comprehensive Protection Rider (UIN: 110A032V02 or any later version)

Unique Triple Benefit

Future premiums paid by insurer on parent's death

Monthly income to fund child's education on parent's death

Lumpsum payout to family on parent's death

Returns

Return as of Apr 2024
12%-15%
8.2%
7.1%

Availability

Availability
Girl Child or Boy Child
Girl child only
Girl Child or Boy Child

Max Entry Age
Upto 18 years
Upto 10 years
No Age Limit

Flexibility

Invested Amount can be Withdrawn after
5 years
21 years
15 years

Conditions for Premature closure
Anytime after 5years
Extreme Compassionate Grounds
Serious Ailments or for education

Penalty on Premature Closure
No Penalty after 5 years
Returns reduced to Post Office Savings rate
1% reduction in interest rate

Max deposit amount in an year
No Limit
1.5 Lacs
1.5 Lacs

Documentation

Documentation Required for Withdrawal
Low
High
Low

View Plans

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Policy Details of Tata AIA Fortune Pro WOP Plan

Free Look Period: 15 days (30 days for distance marketing). Cancel the policy and get a refund for premiums minus charges.
Grace Period: 30 days (15 days for monthly) to pay the premium after the due date. The policy remains in force during the grace period.
Backdating: Not allowed.
Policy Loan: Not allowed.
Juvenile Policy: Vests in minors upon reaching the age of majority. Minor becomes a policyholder.
Fund Switching Charges: 12 free switches per year. Rs.100 per switch thereafter (subject to change).

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Exclusions Under the Tata AIA Fortune Pro WOP Plan

Under the Tata AIA Fortune Pro WOP Plan, there is an exclusion regarding death by suicide within 12 months of policy commencement or revival. In such cases, the nominee or beneficiary receives the fund value/policy account value as of the death intimation date. Any charges except Fund Management charges post-death are refunded to the nominee or beneficiary along with the death benefit.

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FAQs

Do I have to submit a separate claim for the rider benefits?

Yes, you must file a separate claim for the rider benefits, which are applicable when the insured experiences events covered by the rider, such as accidental death, disability, or waiver of premium, as outlined in the rider's terms and conditions.
Can I make partial withdrawals from Tata AIA Fortune Pro WOP ULIP Plan?

The Tata AIA Fortune Pro plan has a lock-in period of 5 years, during which partial or complete fund withdrawals are not allowed. After 5 years from policy issuance and while the policy is active, a minimum partial withdrawal of Rs 5000 is permitted under the regular premium option, subject to the total fund value. For policies bought for minors, partial withdrawals are only possible once the insured turns 18, with up to four free partial withdrawals annually.
Can I increase my sum assured with this ULIP?

Yes, you can top up your sum assured with this Unit-Linked Insurance Plan. Once you opt for this feature, the top-up sum will remain unchanged throughout the policy term.

†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Please note that the quotes shown will be from our partners
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
#The lumpsum benefit is calculated if policyholder invested ₹10000 monthly for 10 years in the fund with a policy term of 20 years. This Point To Point past performance data of last 10 years has been used to illustrate a scenario for the customers benefit. It is assumed that the past 10 years returns would have also been delivered in last 20 years. This is not guaranteed and not in anyway indicative of what the customer may actually get 20 years from now. The investment is subject to market risk and the risk is borne by the policyholder.

Insurers Offering Child Plans

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Max Life

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Edelweiss Life

Kotak Life

Future Generali

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Aviva

Bandhan Life

Canara HSBC

IDBI Federal

IndiaFirst

Pramerica Life

Reliance Life

Sahara Life

Shriram Life

Star Union

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Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.

Average Rating

4.1 / 5

(Based on 25 Reviews)

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Tata AIA Child Plans Reviews & Ratings

4.1 / 5 (Based on 25 Reviews)

(Showing Newest 10 reviews)

Gautam

Amritsar, October 18, 2016

★★★★★

TATA AIA Insurance Company.

TATA AIA life insurance company provides wide range of insurance plans. I took child insurance policy from them in low investment. The coverage is high approx. 90% and the premium is less. Services facilitated by the executives and staff members is fast and on time.

Namit

Holalkere, August 25, 2016

★★★★★

Trustable Plan

My father gave me child insurance policy which he purchase's from tata aia life insurance. The policy is great and it has very flexible terms and conditions. Premium of the insurance plan is low and claims are high.

Ratikant

Bhojpur, July 27, 2016

★★★★★

Nice Insurance

The child insurance i purchase for my child is very nice and service provided by tata aia life insurance is fantastic. Good coverage for the future of the child and maximum expenditure spend by the plan. Claims are easy to sanctioned because of fast service given by the staff members.

Devesh

Atariya, July 12, 2016

★★★★★

Child Plan

Child insurance plan in less premiums which facilitate all the benefits. Policy coverage is high it covers maximum expenditures. Claiming is easy part due to fast service provided by the company. Online service provides easy renewals.

Darpan

Agra, June 30, 2016

★★★★★

Good Policy

The child insurance plan i purchase for my grandson is good. Service is okay and manageable. Policy coverage and claims are fantastic. Internet site service is simple everybody use is easily. I'm now tension free for my grandson's future.

Omesh

Palwal, May 06, 2016

★★★★★

Great Deal

I have tata aia child plan. The policy coverage is high ~92% and the claims are even better. Services provided by the executives and the staff member of the company is great and very responsive at anytime. The policy premium is low. Good future investment plan which save my taxes. Great work guys.

Lalit

Bangalore, May 06, 2016

★★★★★

Better Plan

I have tata aia child insurance policy. Policy coverage is good 87% and the claims are easily sanctioned. Premiums are low 12 K quarterly. The payback return is around 34 L after policy get mature. The service is fast and on time. Nice future investment with tax saving. I like it.

Karan

Jammu, May 06, 2016

★★★★★

Tax Saver

I got tata aia child plan which provides good services and even the policy premiums are low approx. Rs.14 k thrice Per year for 19 years. The paybacks are high with good interest and the response is always i get from your company members. Great future investment.

Jiten

Mussorie, May 06, 2016

★★★★★

Excellent Policy

The policy i have is tata aia child plan. The policy premium is low and the payback returns are very high. The policy coverage is high ~90% and the claims are good. Service are good and great experience with your executives and staff members. I like the policy plan.

Prashant

Manipal, May 06, 2016

★★★★★

Poor Policy

I purchase tata aia child plan is very okay. The policy coverage is 69%. The claims are okay and the premiums are normal. The claiming is easily sanctioned because service facilitate by executives and staff members. The best thing is it save taxes.

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