OREANDA-NEWS. Tata AIA Life Insurance Company (Tata AIA Life) has launched Tata AIA Life Insurance MahaLife Gold Plus, a whole of life* plan that protects against the uncertainties of changing times by offering insurance protection and a lifetime income.

Tata AIA Life Insurance Mahalife Gold Plus is a non-linked participating plan that secures the future of the insured and their loved ones, with just one policy. The plan that comes with a minimum basic sum assured of INR two lakh, offers increased guaranteed benefits with a higher sum assured and returns till the age of 85 years.

“Tata AIA Life Insurance MahaLife Gold Plus not only protects the standard of living of the insured but also their future generations,” said Amitabh Tapadar, chief marketing officer, Tata AIA Life. ” Along with lifelong* coverage, guaranteed and non-guaranteed benefits, the plan provides additional protection through Inflation Protection Cover that enhances the sum assured every 15 years,” Mr Tapadar added.

The key benefits of the plan are:

Higher tax-free guaranteed annual coupon on choosing higher insurance protection (basic sum assured).

Limited period paying term of just 15 years.

Ensures financial protection for one's family with a whole of life* insurance cover.

Non-guaranteed cash dividends annually from the 6th policy anniversary till maturity or death (whichever is earlier).

Enables one to plan a legacy with a guaranteed lumpsum on maturity or death during the term.

Tata AIA Life has launched a bouquet of solutions, compliant with the new IRDA guidelines applicable from January 1, 2014. A key highlight of these solutions is the higher protection cover that is now available to both existing and prospective customers.