What's more to safeguard yourself against other uncertainties in life, you can add any of TATA AIG Life's riders (Term riders, Accident riders, Disability riders or Health riders) to this product. For eg. if you attach Accidental death and Dismemberment (Long scale) rider, you receive 2 times the sum assured, in case of death due to accident (if any dismemberment benefit is not claimed earlier).

You can also get your child this plan if he/she is minimum 30 days old right up to the age of `17 years.  In case of the unfortunate event of loss of life before the completion of age 4, the amount payable will be as per the table given below:-

 15-day money back guarantee (free look period)

This plan is supported by a money back guarantee. So if you change your mind, simply return the policy document within 15 days of receipt and the full premium will be refunded subject to deduction of expenses related to issuance of contract.

 Guaranteed Surrender value

You are entitled to guaranteed surrender value which refers to guaranteed cash value of the policy which is equal to minimum 30% of total premium paid (excluding the first year's premium) less any coupons paid, provided at least three annual premiums are paid. 

 Tax Benefit

You are eligible for tax benefits as per current tax laws.

  World - class service

Your child is covered by Mahalife Gold the moment we receive your signed proposal form and premium payment. The policy certificate of insurance will be issued ad will reach you within a short period. Claims will be processed within a short period after receipt of the necessary documentation.

 Grace Period

Tata AIG allows a grace period of 31 days from the due date for you to make the premium payment. The policy will remain in force during the period. The policy shall lapse and have no further value if premium is not paid beyond the Grace Period, expect if it has acquired any cash value.

 Reduced paid up value

This benefit comes into effect if there is a delay in the payment of premium. It is a benefit, which is offered to you, wherein the sun assured is reduced in proportion to the number of premiums actually paid to the total number of premiums stipulated. Bo further premiums need to be paid. In the unfortunate event of death the nominee will be paid a reduced sum assured. This reduced amount does not participate in any future bonus.

 Automatic Premium Loan *

In case you are unable to pay the premium within the Grace Period, thee premium then due will be advanced as an automatic loan to you. This is provided that the cash value is equal to or greater than thee premium in default. This feature is available only after the policy has completed 3 years with us.  

* - current applicable interest rate is 11% and it is subject to change from time to time as per the company's discretion.

 Reinstatement

In case your policy has lapsed, you may reinstate the same at the absolute discretion of Tata AIG Life Insurance Company Limited within 5 years after the due date of the premium in default. However the company would require:-

1. A written application from you for reinstatement

2. Current health certificate and other evidence of insurability

3. Payment of all overdue premiums with interest

4. Repayment or reinstatement of any indebtedness outstanding at the due date of the premium in default plus interest.

 Convenient Payment options

You have various convenient payment options to choose from. You can 

• send a Cheque or demand draft together with your proposal form

• send post dated Cheque for quarterly and semi annual payments

• pay by credit card.