Tata AIA Life launches new plan
Feb 20 2014 , Mumbai
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.