Very Vigourously marketed, this policy is utter rubbish.
I have detailed calculations to show that PPF + term insurance will give you better survival returns or death benefits.
How? Your premium would come to approx 35, 000 for a 4 Lakh policy. (Ask any Agent). Instead invest 32, 500 in PPF and 2, 500 in simple term insurance every year. I can guarantee that this gives better return. PPF gives 8 % interest guaranteed from day one. PPF interest is also non-taxable. MahaLife Gold gives 5% from Year 10 onwards. Cash dividends won’t be more than 2%. Insurance coverage can be had by giving 2, 500 per year for 10 lakh rupees whearas Tata-AIG will cover you for 4 lakhs only.
DO NOT GET Suckered by THIS POLICY. I CAN CHALLENGE ANY TATA-AIG Official/ Agent on this.
It benefits only those who have exhausted their 70, 000 PPF limit. Not otherwise.
If you are seriously interested to know more, then let me know, and I will give you detailed calculations.