Tata AIA Life Insurance Company has introduced MahaLife Supreme, a new income protection plan with guaranteed returns.
Guaranteed annual return will commence from the end of the 16th policy year for option A and from the end of the 13th policy year for option B, where option A and option B are based on policy term and premium payment term.
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Speaking about the new product, Tata AIA Life Insurance deputy CEO and CDO Mukesh Dhawan said the company’s 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," Dhawan added.
In the recent past, the company has a variety of products that are in line with the new IRDA guidelines applicable from 1 January 2014.
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