Knowledge Base Life Insurance Child Plan Tata AIG Mahalife Gold Review
Tuesday, 24 May 2011 18:42

Tata AIG Mahalife Gold Review

Written by  Yashish Dahiya
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Tata AIG Mahalife Gold Review

Plan Name: Mahalife Gold

Insurer: Tata AIG Life Insurance Company Limited

Category: Traditional Plan

Objective: Financially Securing Child’s Future

Tata AIG Mahalife Gold is a whole life money back plan. It is a participating child plan in which have to pay for just 15 years and you get risk cover till age of 100 along with periodic dividends. It is a money back plan as it begins payout from the 6th year onwards.

Major USP of Tata AIG Mahalife Gold:

  • Life cover till age of 100
  • Guaranteed payouts
  • Non-guaranteed payouts
  • Many optional riders to choose from


Age eligibility of Tata AIG Mahalife Gold:

Minimum Entry Age: 30 days

Maximum Entry Age: 60 Years

Maturity Age:  100 years

Policy Term: Limited premium paying term of 15 years.

Life Cover in Tata AIG Mahalife Gold:

Minimum Sum Assured: Rs 25,000

Minimum Sum Assured: No limit but subject to underwriting

What benefits does Tata AIG Mahalife Gold offer?

Maturity Benefit:

The Sum Assured along with the final guaranteed coupons are paid to the beneficiary.

Death Benefit:

The Sum Assured is paid to the designated nominee.


Mahalife Gold has two types of loyalty bonuses which are provided to the customer. Guaranteed benefits equivalent to 5% of Sum Assured begins from 10th policy year. Non-guaranteed benefits begin from 6th policy anniversary.


There are many riders available with Mahalife Gold which can be attached to the policy by paying additional premium. The major riders which can be added are accidental death, accidental death and dismemberment, critical illness, waiver of benefit etc.

Are there any tax benefits?

Under Section 80C you can avail tax benefit, yearly premium (not more than 1lac) will be deducted from taxable income.

Under Section 10(10D) death claim is completely tax free.

How can I buy Tata AIG Mahalife Gold?

Policybazaar representatives will assist you in buying Mahalife Gold.

What’s Policybazaar opinion on Tata AIG Mahalife Gold?

Mahalife Gold is a different type of child plan. It provides risk cover for life insured till age of 100. Mahalife Gold pays out dividends both guaranteed and non-guaranteed so you get good returns. Also there is limited premium payment term of just 15 years. The optional riders add to already existing gamut of benefits.


Secure your Child's Future. Choose the best Child Plan.










  • Comment Link Ranjitha Friday, 14 October 2011 21:42 posted by Ranjitha

    This is really a wonderful policy for childrens

  • Comment Link Arvind Kumar Baid Wednesday, 02 November 2011 12:48 posted by Arvind Kumar Baid

    It is better to take a term insurance policy and invest remaining amount in ppf which ultimately give higher returns than this policy

  • Comment Link Narasimha    Monday, 21 November 2011 12:13 posted by Narasimha

    I am Policy holder of TATA mahalife gold policy.

    My Name is Narasimha A Saundatti

    Policy is in my daughter name Samiksha N Saundatti

    Let me know the what benifits I am going to get now & in future.& what is status of policy

  • Comment Link Administrator Tuesday, 22 November 2011 14:54 posted by Administrator

    Hi Narasimha
    Your non-guaranteed payouts will begin from 6th year onwards and guaranteed payout from 10th year onwards. Also you are insured for entire life.

    For the status, you need to contact customer care or visit insurer's branch.

  • Comment Link chirag Vyas Wednesday, 23 November 2011 23:27 posted by chirag Vyas

    I am still Policy Holder and I have a Kidney Transplant Patient Then at the time of policy i was declare my critical Illness but your Sub Broker India Infoline Company was not declare my Critical Illness by the company & I was Lost my Premium Amount Rs.18000/- So Please HELP ME

  • Comment Link vishal bhandari Sunday, 14 October 2012 19:13 posted by vishal bhandari

    i am policy holder of tata AIG MAHALIFE GOLD WITH ANNUAL PREMIUM OF 30000/- from 06/04/2009. i want know that how much money i will get on 6th year. 10th year. how much per month after 15 years. as no such detail is availble on policy.

  • Comment Link vishal bhandari Sunday, 14 October 2012 19:18 posted by vishal bhandari

    i am policy holder of ICICI Prudential life stage pension plan with annual premium 30000/- from 16/10/2009. i want to know how much monthly pension i will get & at what age

  • Comment Link Shelly Wednesday, 05 December 2012 17:50 posted by Shelly

    please dpo not opt for this policy.. it is really a waste..

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