Tata AIA Life launches Mahalife Gold

Tax free income till 85 years through Guaranteed Annual Coupons and Non-Guaranteed cash dividends

February 20, 2014 4:03 IST | India Infoline News Service
Tata AIA Life Insurance Company Limited (Tata AIA Life) has launched  Tata AIA Life Insurance MahaLife Gold, a complete plan with Whole of Life cover upto age 85 that provides insurance cover and assured benefits to fulfill both short term as well as future life needs.
The plan can be bought even from age zero. This means that if one buys this policy for his child he has to pay premiums only for the first 15 years, after which the child gets a guaranteed annual income as well as life coverage till the age 85 years.
Commenting on the product, Shivdutt Das, Vice President, Product Development, Tata AIA Life, said, “Throughout life's journey we plan to create a secured future and a comfortable lifestyle for ourselves and our loved ones. Keeping that need in mind, we have designed Tata AIA Life Insurance MahaLife Gold that celebrates life with three generations. First, one gets tax benefits on the premiums paid. Then his child gets guaranteed and non–guaranteed income along with life coverage till maturity. Finally, it creates a legacy for the next generation  who will get the sum assured on maturity.”
The other key benefits of the plan are:
5.5% Guaranteed Annual Coupons starting from 10th policy anniversary till maturity
Non-Guaranteed Cash Dividends annually from 6th policy anniversary till maturity
Lump sum payment at maturity in addition to the regular income
Protection with a life cover for the entire term of the policy
Tax benefits u/s 80C and 10 (10D) of the Income -Tax Act, 1961
Tata AIA Life has launched a bouquet of solutions, compliant with the new IRDA guidelines applicable from 1st January, 2014. A key highlight of these solutions is the higher protection cover that is now available to both existing and prospective customers.

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