Thursday, January 16, 2014

Tata AIA Life unveils 'Money Maxima', an endowment assurance plan

Private sector insurer Tata AIA Life Insurance has announced the launch of 'Money Maxima', a long-term plan which is compliant with new IRDA guidelines applicable from this month.

Tata AIA's new offering 'Money Maxima' is a Regular Premium Paying Non-Linked Participating Endowment Assurance Plan. It offers policyholders a host of bonuses and guaranteed benefits, which maximises returns for every rupee invested.

In a company release Mr.Mukesh Dhawan, Deputy CEO and CDO, Tata AIA Life Insurance said, “Money Maxima is a long term plan that stretches to fit the dreams of our customers through flexibility of plan duration. The plan offers the dual benefits of both guaranteed and non-guaranteed returns and, hence, is good value for money.“

Money Maxima also provide additional benefits such as guaranteed returns, liquidity and flexibility of plan duration. Among other benefits, this plan provides flexible policy terms to achieve specific time bound goals, guaranteed loyalty addition to further augment customers' savings, life coverage throughout the policy term, and maturity benefit of basic sum assured.

Tata AIA Life Insurance Company Limited (Tata AIA Life) is a joint venture between Tata Sons and AIA Group Limited (AIA), the largest listed pan-Asian life insurance group in the world. Tata Sons holds 74% stake in the company, while AIA holds the rest 26%.

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