Tata AIA Life Insurance (Tata AIA Life), one of India’s leading Life Insurance Companies, has introduced a more powerful version of its flagship annuity (guaranteed income for life) plan, Tata AIA Life Fortune Guarantee Pension. The new version includes some critical improvements, including higher annuity rates and death benefits, making it a must-have for the consumers to live financially independent and worry-free in their golden years.
The Retirement Savings Gap in India is projected to reach USD 85 trillion by 2050, and Indian consumers must prepare for this crisis by ensuring financial independence after retirement. Tata AIA Life Fortune Guarantee Pension plan offers multiple tailored-made guaranteed income options and helps consumers save adequately for retired life. It caters to a diverse set of customers, including married, women and individuals wanting to maintain their current lifestyles for the future.
The Deferred Life Annuity (GA-I) and Return of Purchase Price ensures an annual income of Rs. 261,030 per annum, with a Death Benefit in case of death. Commenting on the occasion, Samit Upadhyay, Chief Financial Officer, Tata AIA Life Insurance, said, “The plan helps our consumers save enough before they retire and ensures stable income when the regular salary income stops.”
