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MahaLife Gold Insurance is Tata AIA Life Insurance plan that enables policyholders to fulfil their short-term and long-term financial aspirations. This savings insurance plan by Tata AIA Life provides complete solutions through life insurance cover, assured annual returns and accrued bonuses till the age of 85 years. The participating whole life plan can be used for meeting various financial goals of life like buying a new home or making arrangements for child’s higher education.
Tata AIA Life Insurance MahaLife Gold Plan Details
Eligibility Criteria
Eligibility details of this plan have been tabulated below:
| Particulars | Details |
| Entry Age | 0 years (30 days) – 55 years (Max) |
| Maturity Age | 85 years |
| Policy Term | 85 years minus entry age |
| Premium Paying Term | 15 years |
| Premium Payment Frequencies | Monthly, half-yearly and yearly |
| Sum Assured | Rs. 1 lakh – No upper limit |
While buying an insurance plan, it is advisable to calculate premium online through the premium calculator, as it gives an estimated value of the premium required for each plan.
Features
The insurance plan comes with a number of features. Some of them are listed below:
- Life-Long Coverage: The insurance plan provides the policy owner with a lifelong insurance cover up to the age 85 years. For this much coverage, they just need to pay the premiums for 15 years.
- Regular Income: This insurance plan allows the customers to receive some income on a regular basis to make their loved ones financially stable.
- Enhanced Protection with Riders: The insurer provides its customers with an opportunity to add a rider benefit to their existing insurance policy for enhanced protection.
- Lump-Sum Income: A policy owner will also receive a lump sum amount at the end of the policy term. Here, regular income is not added.
Suggested Read: Tata AIA Life Insurance MahaLife Magic Plan
Documents Needed for Claims
It is important to provide all the required documents to the insurance provider as per the need of the situation and policy in order to make claims when needed. The documents required are different for different policies.
In case of Death: On the untimely death of the insured, the documents needed are: claim forms, death certificate, medical records, original policy document, claimant’s photo ID with age proof and relationship.
In case of hospitalization and critical illness claim: In this situation, the documents required would be claim forms, copies for hospital bills, discharge summary, clinical reports, medical examination certificate, photo identity of life assured with age and address proof.
In case of disability or dismemberment claim: In this situation, documents needed are claims forms, hospital discharge summary, medical reports, disability certificate, rehabilitation certificate, clinical photographs with injury areas, employer’s written statement.
Benefits
Tata AIA Life Insurance MahaLife Gold ensures financial stability for the policyholder and their family along with life insurance cover. This insurance plan comes with various prominent benefits. Some of them have been listed as under:
Guaranteed Annual Coupons: This benefit is paid by the insurer at every anniversary of the policy after the 10th policy year till the end of the policy term or death of the policyholder (whichever is earlier). The rate of these coupons is Rs. 55 per 1,000 basic sum assured.
Non-Guaranteed Cash Dividends: After the completion of the 5th policy year, this benefit can be received by the insured. This benefit is also payable till the end of the policy term or the death of the insured (whichever is earlier). Since this benefit is not guaranteed, it will only be based on the market performance of the company.
Maturity Benefit: The policyholder will get the minimum sum assured at the end of the policy term which is equal to the basic sum assured. The policyholder will get this benefit along with last occurred guaranteed annual coupons and non-guaranteed cash dividends (if any).
Death Benefit: In case of an unforeseen event like death of the policyholder during the policy term, the sum assured on death will be paid by the insurance company to the legally appointed nominee. This benefit will be the higher of:
- 105% of all premiums paid
- 10 times of annualised premium
- Minimum guaranteed sum assured on maturity
Grace Period: Tata AIA provides the grace period of 15 days for the monthly premiums and 30 days for other modes i.e. annual, semi-annual and quarterly payments for this insurance plan. During this given period, an insurance policy is considered active or in-force. The insurance policy shall lapse if any outstanding premium remains due even after the grace period.
Free-Look Period: This insurance plan also comes with a free-look period of 15 days. In case the customer is not happy or agree with any of the features or terms and conditions of the insurance policy, they have the right to return the plan by stating the reason behind their decision in writing. The insurance company will return the paid premiums after deducting stamp duty charges, medical costs and proportionate risk premium which have been incurred during the policy issuance process.
Tax Benefits: Premiums paid by the policyholders for this plan are eligible for tax exemptions under Sections 80C and 10 (10D) of the Income Tax Act, 1961. However, income tax laws are subject to change or modification. Your benefits may affect whenever there is a change in the income tax laws. It is advised to consult your tax advisor or get in touch with the nearest branch of Tata AIA Life Insurance for the updates.
Also Read: Tata AIA Life Insurance MahaLife Gold Plus Plan
FAQs
Q1. What rider options are available for traditional plans?
The insurance company provides a number of rider options to their customers. For traditional plans, the following are the options available:
- Tata AIA Life Insurance Waiver of Premium Plus Rider
- Tata AIA Life Insurance Term Rider
- Tata AIA Life Insurance Accidental Death and Dismemberment (Long Scale) (ADDL) Rider
Q2. How to contact Tata AIA Life Insurance for various queries and concerns?
The insurance company is known for providing customer-centric services. They provide the most convenient modes to its customers to connect with them. Look at the following to know more:
| Service Type | Helpline Number | Email ID | SMS Service |
| NRI Support | 080-67603700 (call from Monday to Saturday between 9 am to 9.00 pm IST) | nrisupport@tataaia.com | – |
| Claim Care/Claim Intimation | 1860-266-9966 | customercare@tataaia.com | – |
| Other Queries | 1860-266-9966 (for Indian)
+ 91-80- 67603700 (for outside India)
7045118888 (WhatsApp number) |
SMS SERVICE to 58888 |
Q3. What are the services that can be availed through Tata AIA Life Insurance SMS feature?
Details of this plan or any other insurance policy can be availed through SMS service. The insurance company provides you with the appropriate solutions or answers within 1 business day only. Services and their format have been given below:
| Name of the Service | SMS Format | SMS Number |
| Mobile number registration | REG <space> 10-digit policy number <space> (Date of Birth of the policyholder in DDMMYYYY format) <space> (Sum Assured) | 5676799 |
| NAV details and Fund Value | NAV <space> 10-digit policy number | |
| Policy Information | POL <space> 10-digit policy number | |
| Email ID | EMAIL <space> 10-digit policy number <space> e-mail ID | |
| Certificate of the premiums | PCT <space> 10-digit policy number <space> email ID (in case the policyholder wishes to get the certificates on their email) <space> financial year (in yyyy-yyyy format) | |
| Renewal Premium Receipt | RPR <space> 10-digit policy number <space> email ID (in case the policy owner wishes to receive the receipts by email)) | |
| Unit Statement | UST <space> 10-digit policy no <space> email address (in case you wish to receive by email, or it will be sent to your communication address) | |
| Helpline Short Codes | Type HELP | |
| User ID | UID <space> 10-digit policy number | |
| Credit Card Expiry Date | CED <space> 10 digit policy number <space> Last 4-digits of the credit card no <space> new date in the format of MM-YY | |
| Aadhaar | Aad <space> 10-digit policy number <space> 12-digit Aadhaarnumber | |
| PAN | PAN <space> 10-digit policy number <space> PAN number |
Q4. How to pay premiums of Tata AIA Life Insurance MahaLife Gold Insurance?
Tata AIA Life Insurance provides a number of easy, quick, secure and hassle-free modes for paying the insurance premiums. One can pay the premiums:
- Through direct net banking, master card, visa card, Citibank E-card, Diners Club International card, America Express card and debit card
- Through monthly instalments or EMIs
- Through JIO Money (payment can be loaded in the JIO wallet through net banking, credit card and debit card)
- Through PayTm account (payment can be loaded through master, visa credit or debit card and net banking)
- Through Electronic Bill Processing and Payment (EBPP) or Bill Desk
- Through ICICI Bank Quick Pay facility
- Through the Interbank Mobile Payment Service (IMPS)