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. 

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

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.