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Non Linked, Participating, Whole Life Individual Savings Plan (UINU110N029V03)
Tata AIA Mahalife Gold
The Tata AIA Mahalife Gold is a savings plan you can opt for if you want to save your money systematically over the years while enjoying a life cover benefit for your family’s security. With guaranteed* returns, and the benefit of receiving regular income during the policy term, this savings policy lets you live your life without a worry!
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Benefits of Tata AIA Mahalife Gold
Whole Life Coverage
Whole Life Coverage
With a choice of policy terms, you can opt for a whole life coverage till the age of 100 years to keep your family safe and secure for a longer time.
Long-Term Savings
Long-Term Savings
A long policy term until 85 years or 100 years of age under this savings plan not only allows you to enjoy returns over the long term but also helps you leave a legacy for your loved ones.
Regular Income
Regular Income
Starting from the 10th policy anniversary, you can receive a guaranteed* regular income until maturity or as long as you survive the policy term, in the form of Guaranteed* Annual Coupons.
Get Cash Dividends
Get Cash Dividends
Apart from the guaranteed* annual coupons, the plan also offers cash dividends (non-guaranteed) from the 6th policy anniversary till maturity.
Optional Riders
Optional Riders
The savings plan lets you enhance the policy coverage through the inclusion of optional riders^ to increase your plan coverage. The rider^ offers multiple benefits that cover multiple risks like Hospitalization expenses, Critical Illnesses like cancer, Heart conditions, death, disability due to an accident, etc.
Tax Benefits
Tax Benefits
The premiums paid towards the savings policy will qualify for tax deductions as per applicable income# tax laws.
Plan Options |
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Minimum Entry Age~ |
0 years (30 days) |
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Maximum Entry Age~ or Premium Payment Term |
6 years |
8 years |
15 years |
55 years |
60 years |
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Maturity Age |
85 years OR 100 years |
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Policy Term |
85 years minus Entry Age or 100 years minus Entry Age |
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Payment Mode |
Annual, Semi-annual, Monthly |
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Minimum Basic Sum Assured |
₹1,00,000 |
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Maximum Basic Sum Assured |
No higher limit but is subject to financial underwriting guidelines |
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~All reference to age is as on last birthday.
Documents Required
PAN card
Bank statement
(for the previous 6 months)
Salary Slip
Aadhar Card
Income Tax Reciept
Select the Life Cover duration
Tata AIA Mahalife Gold offers two life cover options – up to the age of 85 years and a whole life coverage of up to 100 years. You can pick any one of the options and the required Life Cover amount (Sum Assured) to determine the extent of life cover protection needed for your family.
Select a Premium Payment Mode
The savings policy offers a limited premium payment term of 6 years, 8 years and 15 years, which you can choose from as per your convenience, irrespective of the life cover duration. Also, select from the three premium payment modes - monthly, semi-annual or annual.
Add an Optional Rider
Customise your savings policy and protect your loved ones with optional rider^ benefits that cover multiple risks like Hospitalization expenses, Critical Illnesses like cancer, Heart conditions, death, disability due to an accident, etc. . Add the rider/riders to your base policy for an additional premium to enhance your policy coverage as needed.
Easy Payment Options
The convenient payment options we offer enable you to buy your savings policy without any hassles. Review your policy once before you choose any one of the digital payment options to check out and complete your purchase.
Downloads
Frequently Asked Questions
Why do I need a savings plan?
A savings plan helps you create a long-term financial plan to save money so that you can accumulate a financial corpus over the years. The policy premiums you pay will offer a life cover to your family for unforeseen emergencies and also build the savings fund for the fulfilment of your future goals.
Who should buy a savings plan?
A savings plan can be used to fulfil different goals, depending on one’s individual needs. Some people can choose to utilise their savings corpus as a retirement fund or handle major expenses such as education fees, a new business, a lavish holiday, a second income etc., while others can use it for making further investments. A savings fund can also be useful as an emergency fund for future use.
How to choose a life insurance policy?
Your choice of a life insurance policy may depend on a multitude of factors such as:
- Your current income
- Your family’s future needs
- Future financial commitments
- Your ability to pay the policy premiums
- Any unforeseen emergencies to be met
What does a non-linked savings plan mean?
A non-linked life insurance savings plan means that the returns received on the policy are not linked to the market performance. In the case of Unit-Linked Insurance Plans (ULIPs), you invest in investment funds, and the returns will be dependent on the market and fund performance, which is not the case with savings plans
What are the benefits offered under the Tata AIA Mahalife Gold?
Tata AIA Mahalife Gold offers a guaranteed* annual coupon which will be paid out from the 10th policy anniversary until maturity and a non-guaranteed cash dividend which will be paid out from the 6th policy anniversary onwards till maturity, if declared. Additionally on maturity, you receive a maturity benefit which is equal to the basic sum assured.
What taxes can I claim on this life insurance savings plan?
This life insurance savings plan allows you to claim tax deductions under Section 80C of the Income Tax Act for the premiums paid towards the policy, while you can also avail of tax benefits on the policy’s death benefit/maturity benefit, as applicable, under Section 10(10D) of the Income Tax Act.
Is the life cover under this plan optional?
No, the life cover under this policy is not an optional benefit and is a part of the savings plan. You can, however, choose the policy term for the life cover as per your needs.
When can I receive regular income from the savings policy?
The savings policy starts offering regular income in the form of guaranteed* annual coupons from the 10th policy anniversary until policy maturity and a non-guaranteed cash dividend which will be paid out from the 6th policy anniversary onwards till maturity, if declared
Can I increase or decrease the life cover under this plan?
No, you cannot increase or decrease the life cover/the basic sum assured under the policy once you have chosen the basic sum assured during the policy purchase.
What riders does Tata AIA Mahalife Gold offer?
The riders^ offered under Tata AIA Mahalife Gold are:
Tata AIA Non-Linked Comprehensive Protection Rider (UIN:110B033V02 or any other later version) and Tata AIA Non-Linked Comprehensive Health Rider (UIN: 110B031V02 or any other later version.
Do I need to pay additional premiums for the riders?
Yes, the riders^ are optional and additional benefits can be added to the base policy as per your needs. Hence, they carry an additional but nominal premium charge.
What are the premium payment options under Tata AIA Mahalife Gold?
Tata AIA Mahalife Gold offers a Limited Pay premium payment term, and you can choose a premium payment frequency of annual, semi-annual or monthly premium payments.
Do I have to file a maturity claim if I survive the policy term?
Yes, you will have to file a maturity claim to receive the benefits under this policy if you survive the policy term. You can contact our customer care team to receive guidance on the claim process.
What is the claim procedure for this savings plan?
You can file a claim with us through any of the channels given below:
Send us an email: customercare@tataaia.com
Call us at - 1860-266-9966 (local charges apply)
Visit any of our Tata AIA Life Insurance Company branch offices.
Write to us:
The Claims Department,
Tata AIA Life Insurance Company Limited
B- Wing, 9th Floor,
I-Think Techno Campus,
Behind TCS, Pokhran Road No.2,
Close to Eastern Express Highway,
Thane (West) 400 607.
IRDA Regn. No. 110
How can my nominee file a claim from abroad?
If your nominee wants to file a claim offline from another country, they will have to courier their documents, as needed, to a representative in India who can visit the Tata AIA Life Insurance branch with the papers to file a claim. To file the claim online, the nominee can simply send soft copies of the required documents to us through email.
Is there any reason why a claim can get rejected?
Claims are often rejected if and when:
the nominee details are incorrectly mentioned or are missing
any pre-existing health conditions are not disclosed during policy purchase
false or incorrect, personal policyholder information is mentioned
What documents should be submitted to file a claim?
Please click here to know the list of documents needed for filing and settling a claim.
Disclaimer
- The complete name of Tata AIA Mahalife Gold is Tata AIA Life Insurance Mahalife Gold (UIN:110N160V03) - Non Linked, Participating, Whole Life Individual Savings Plan.
- The complete name of Tata AIA Non-Linked Comprehensive Protection Rider is Tata AIA Life Insurance Non-Linked Comprehensive Protection Rider (UIN:110B033V02 or any other later version) - A Non-Linked, Non- Participating Individual Health Rider.
- The complete name of Tata AIA Non-Linked Comprehensive Health Rider is Tata AIA Life Insurance Non-Linked Comprehensive Health Rider (UIN: 110B031V02 or any other later version) - A Non-Linked, Non- Participating Individual Health Rider.
- *Guaranteed Annual Coupons will be payable at every Policy Anniversary starting from the 10th Policy Anniversary till Maturity or till Death of Insured, whichever is earlier, provided the Policy then is in force. The Guaranteed Annual Coupon rate is Rs. 55 per 1,000 Basic Sum Assured.
- ^Rider is not mandatory and is available for a nominal extra cost. For more details on benefits, premiums and exclusions under the Rider, please contact Tata AIA Life's Insurance Advisor/ branch.
- #Income Tax benefits would be available as per the prevailing income tax laws, subject to fulfillment of conditions stipulated therein. Income Tax laws are subject to change from time to time. Tata AIA Life Insurance Company Ltd. does not assume responsibility on tax implication mentioned anywhere in this document. Please consult your own tax consultant to know the tax benefits available to you.
- This product is underwritten by Tata AIA Life Insurance Company Limited. The plan is not a guaranteed issuance plan and it will be subject to Company’s underwriting and acceptance.
- For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale. The precise terms and condition of this plan are specified in the Policy Contract.
- All Premiums are subject to applicable taxes, cesses & levies which will entirely be borne by the Policyholder along with the payment of Premium. If any imposition (tax or otherwise) is levied by any statutory or administrative body under the Policy, Tata AIA Life Insurance Company Limited reserve the right to claim the same from the policyholder. Alternatively, Tata AIA Life Insurance Company Limited has the right to deduct the amount from the benefits payable by Us under the Policy.
- Buying a Life Insurance Policy is a long-term commitment. An early termination of the Policy usually involves high costs and the Surrender Value payable may be less than the all the Premiums Paid.
- In case of non-standard lives and on submission of non-standard age proof, extra premiums will be charged as per our underwriting guidelines.
- Risk cover commences along with policy commencement for all lives, including minor lives.
- Insurance cover is available under this product.
- L&C/Advt/2022/Oct/2561
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