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Introducing the Tata AIA Shubh Maha Life, a comprehensive life insurance solution designed to align with your long-term financial objectives. You can tailor this plan to suit your financial goals, be it a lumpsum benefit, deferred income for life’s evolving needs, or regular income after retirement this plan provides the flexibility to choose the option that aligns with your financial requirements.
Choose the duration of your higher life cover with the flexibility to select your Higher Cover End Age (HCEA) between 50 to 70 years, ensuring coverage until your preferred age.
If you defer your income payouts, the plan offers the potential to earn higher cash bonuses (if declared), thereby increasing your overall maturity value.
Receive additional accrued reversionary bonus1 payouts along with the cash bonus (if declared).
Choose Lump Sum, Deferred Income, or Retirement Income based on your financial goals and needs.
With the Retirement Income plan option, you receive an assured income for life, providing stability and peace of mind during your retirement years.
Enjoy special discounts3 for women policyholders and family members of existing Tata AIA customers.
You can opt for a combination of two or more plan options to create a personalized benefit structure that supports your financial goals at different life stages.
The Tata AIA Shubh Maha Life offers three plan options to support your evolving financial goals.
Get a lumpsum payout on policy maturity, including reversionary bonuses and terminal bonuses (if declared).
Receive regular cash bonuses (if declared) along with Reversionary Bonus payout after the completion of the Deferment period till the end of the policy term, along with maturity benefit.
Get regular Cash Bonuses (if declared) and Accrued Reversionary Bonus payout starting from ages 51, 56, 61, 66, or 71, as per your choice, until the end of the policy term, plus a lump sum amount at policy maturity.
Tata AIA Shubh Maha Life works by offering flexible options to suit different life stages and financial needs. Here’s how they work:
This option helps you save regularly and receive a one-time substantial payout at the end of the policy term. It's a suitable option if you're planning for goals like retirement, buying a home, or funding your child’s education.
How it Works
Example
Mr. Reddy, aged 30, chooses the lump sum option and pays ₹5,00,000 every year for 10 years. He stays invested throughout the 30-year policy term. At the end of the term, he receives a lump sum payout that includes the maturity amount along with any bonuses that may have been added over the years.
This plan helps you save regularly and receive income later, along with a lump sum payout at the end of the policy term. It is suitable for those who want to plan for retirement or future financial stability, with the benefit of a steady income after a few years.
How it Works
Example
Mr. Verma, aged 35, chooses the Deferred Income Plan and pays ₹5,00,000 every year for 10 years. He selects a 12-year deferment period, which means he will not receive any payouts during the first 12 years.
This plan helps you save funds while you work and then provides you with a steady income after you retire. You also get a lump sum amount at the end of the plan.
How It Works:
This plan gives you regular payouts after retirement and a final payout at the end.
Example
Ayush is 30 years old. He chooses this plan and pays ₹5,00,000 every year for 10 years. He picks age 50 as the higher cover end age. And income start year as 61, Ayush begins to get yearly payments from bonuses (if declared). At the end of the plan, he receives a lump sum amount that includes his maturity payout and bonuses.
You can combine multiple options under the plan to meet different financial goals. For instance, you may choose Deferred Income for child-related expenses and Lumpsum for retirement planning.
Parameter |
Details |
Entry Age |
You must be between 18 and 55 years old to start the plan. |
Maturity Age |
You can choose to receive the lump sum when you turn 60, 65, 70, 75, 80, 85, or 100 years old. |
Premium Payment Term (PPT) |
You can choose to pay premiums for 6,7,10 12, 15 years or Pay till selected Higher Cover End Age |
Policy Term (PT) |
Your policy term will be a minimum of 20 years and can go up to 100 minus your entry age. |
Higher Cover Ending Age |
You can choose the age till which you want higher life cover: 50, 55, 60, 65, or 70 years. |
Basic Sum Assured |
The minimum sum assured is ₹1,20,000. There's no upper limit, but it depends on the insurer’s approval. |
Minimum Annual Premium |
Starts from ₹12,000 per year. No maximum limit (subject to insurer approval). |
Premium Payment Modes |
You can pay your premiums annually, half-yearly, quarterly, or monthly. |
Bonus/Survival Benefit Payout Frequency |
Payouts (if applicable) can be made monthly, quarterly, half-yearly, or yearly, either in advance or after the due period. |
Our experts are happy to help you!
1.What is the Tata AIA Shubh Maha Life?
Tata AIA Shubh Maha Life is a life insurance savings plan offering lump sum or regular income options, plus high life cover and bonuses. The plan is suitable for long-term goals like retirement, education, or wealth creation.
2.Is it good to take Tata AIA Shubh Maha Life?
Tata AIA Shubh Maha Life can be a right choice for long-term savings with life cover. It offers flexibility, steady returns, and bonus additions.
3.What are benefits of Tata AIA Shubh Maha Life?
The plan offers life cover, flexible payout options, potential bonuses, maturity benefits, and tax2 benefits under Sections 80C and 10(10D).
4.What are the available add-ons in Tata AIA Shubh Maha Life?
The add-ons available with Tata AIA Shubh Maha Life are Waiver of Premium on Accidental Total Permanent Disability and Waiver of Premium on Critical Illness.
5.Does Shubh Maha Life offer maturity or survival benefits?
Yes. All plan options offer maturity benefits. Survival benefits like regular income apply in Deferred and Retirement Income options after the deferment or retirement age.
6.Who should consider investing in Tata AIA Shubh Maha Life?
Individuals planning for retirement, child’s education, or long-term savings with life cover can consider this plan. It’s suitable for those seeking stable returns, financial security, and tax benefits.
7.Is Tata AIA Shubh Maha Life eligible for tax benefits under 80C and 10(10D)?
Yes, it offers tax2 benefits on premiums under Section 80C and on payouts under Section 10(10D), as per tax laws.