Tata AIG Mahalife Gold Review
Plan Name: Mahalife Gold
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?
The Sum Assured along with the final guaranteed coupons are paid to the beneficiary.
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.