Normally in the insurance policy premium should be paid till the maturity and but in the maha life gold they take all the premium in just 15 years. So after 15 Years in case of unforeseen, Tata AIG just return the sun assured (which they already taken from you as premium in last 15 Years). return which they are telling are just 5% which are much lower compared to any secured returns (FD, MIS etc).
at age 30 they take 44K per annum premium for 3Lacs sum assured.
total premium paid in 15 years = 660K
Guaranteed return from 11th year = 75K
Non-Guaranteed return @3% (according to the agents) = 90K
pure tem insurance cost at age 30 is ~2.5K with all riders.
15 years cost of pure term insurance = 37.5K
Now decide yourself whether its a good policy or not. In my view its not the whole life policy as calim as the target (sum assured) is already taken from client as premiun in just 15 years.