Tata AIA Life launches new plan

Tags: News
Private insurance company Tata AIA Life today launched a plan with 'whole of life' cover up to the age of 85 years to fulfil both short term as well as future needs of an individual.

The plan, MahaLife Gold, also offers protection with a life cover for the entire term of the policy and tax benefits.

"MahaLife Gold 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," Tata AIA Life said in a release here.

Other key features of the plan are 5.5 per cent guaranteed annual coupons starting from 10th policy anniversary till maturity, non-guaranteed cash dividends annually from 6th policy anniversary till maturity and lump sum payment at maturity in addition to the regular income, the private life insurer said.

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