Tata AIA Life Insurance Company has rolled out its latest offering known as MahaLife Supreme, a simple plan that offers income protection with the added advantage of guaranteed returns.
Commenting on the product, Tata AIA Life Insurance deputy CEO and CDO Mukesh Dhawan said, "Our research shows that customers have varying expectations from their insurance solution, be it investing during early years to earn returns during golden productive phase, or preparing for their retirement needs.
"Tata AIA Life Insurance MahaLife Supreme is a long-term pay plan that opens doors to a guaranteed future, wherein initial investments fructify into a guaranteed additional income with the added benefit of maturity payment."
Complying with the Insurance Regulatory and Development Authority’s (IRDA’s) insurance products guidelines, effective from 1 January 2014, Tata AIA Life has introduced various insurance products to meet the demand of various needs.
Additionally, these new offerings also provide additional benefits such as guaranteed returns, liquidity and flexibility of plan duration.
"It is our constant endeavour to serve our customers and partners better by offering solutions which are ‘easy to buy, easy to sell’.
"This also simplifies the sales kits of our advisors as they won’t have to carry different proposal forms for different products," Dhawan further added.
Guaranteed annual income will start from the end of the 16th policy year for option A and from the end of the 13th policy year for option B. Both option A and option B are based on policy term and premium payment term.