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  • Tata AIA Life Insurance Money Maxima Plan

    Tata Aia Life Insurance

    A non linked participating endowment assurance plan that is aimed at providing better returns on the money invested in addition to the life cover that is provided. This is a regular premium paying plan meant for customers within all age groups.

    Eligibility Conditions for Tata AIA Life Insurance Money Maxima

    The eligibility conditions for availing this policy can be depicted in the table mentioned below -




    Entry age

    12 years

    50 years

    Maturity age


    75 years 

    Key Features of Tata AIA Life Money Maxima

    This plan meant for wealth addition has the following salient features -



    Plan Type

    Non linked participating endowment assurance plan


    Individual policy

    Policy Term

    12 years to 30 years (increasing in multiples of 1 year)

    Policy Validity

    Will be for the chosen policy term in case all premiums have been paid

    Basic Sum Assured

    Minimum is Rs. 1,00,000 and no maximum limit (in multiples of Rs. 1000)


    Guaranteed Loyalty Addition = (Policy term/2)% of Basic Sum Assured


    Maturity Benefit = Minimum Guaranteed Sum Assured + Simple Reversionary Bonuses + Terminal Bonus (subject to availability)


    Death Benefit = Sum Assured on Death (Higher of Minimum Guaranteed Sum Assured and 10 times annualised premium) + Simple Reversionary Bonuses + Terminal Bonus (subject to availability)


    Surrender Benefit = Higher of Guaranteed Surrender Value and Special Surrender Value (subject to full payment of first year premium)

    Free look Period

    30 days in case of online purchase. 15 days otherwise

    Grace Period

    15 days for monthly payment, 30 days for all other payment frequencies

    Nomination and Assignment

    Nomination and assignment facility available but only one can be chosen at a time

    Reinstatement or revival

    Policy, if not surrendered, can be revived within two years from the date of last unpaid premium. 

    Benefits and Advantages of Money Maxima Policy

    This plan from Tata AIA Life is meant for people who wish to have a secure financial scenario during their retirement and wish to save up to build a corpus. The life cover provided by the plan is an added bonus. The key advantages in opting for this plan can be mentioned in the following points -

    1. Life cover is present throughout the policy term
    2. Investments made through premium payment earn a better rate of return than normal savings would
    3. Applicable tax benefits can be availed as per Section 80C and 10(10D) of the Income Tax Act
    4. Policy terms are flexible enough to allow for a planned lump sum return

    The key benefits under this policy can be explained as below -

    1. Maturity Benefit - Paid once the policy reaches the maturity age, after the completion of the policy term, this amount can be paid to the policyholder or nominee. This amount includes the Minimum Guaranteed Sum Assured and if applicable, Simple Reversionary Bonuses and Terminal Bonus. The Minimum Guaranteed Sum Assured is the Basic Sum Assured plus Guaranteed Loyalty Additions. The Maturity Benefit could be 1.5 times of the total premiums paid
    2. Death Benefit - In case of the demise of the insured life, Sum Assured on Death will be payable to the nominee. Vested Simple Reversionary Bonuses and Terminal Bonus if any, will also be payable. This total amount will never be less than 105% of all the premiums paid. The Sum Assured on Death will be the higher of ten times annualised premium and minimum guaranteed sum on maturity
    3. Surrender Benefit - If the first year premiums have been paid in full and the policy is surrendered, the policyholder receives a surrender value that is either a guaranteed or special one and this amount is at the sole discretion of the insurer
    4. Tax Benefit - The contributions made towards the premiums of this Life insurance policy can be tax deductible as per Section 80C and the received benefits can fall under Section 10(10D). Though these benefits are dependent on the prevailing tax laws

    How Tata AIA Life Money Maxima Plan Works?

    Ankit, aged 35 years, decides to put aside a portion of his savings to plan for a secure retirement and wishes to have a life cover to protect his family in case of any unforeseen mishap.

    Opting for a 25-year policy term under Money Maxima, Ankit chooses a Basic Sum Assured of Rs. 5,00,000 and invests his savings of Rs. 31,390 annually as the premium contribution towards this policy. His Guaranteed Loyalty Additions sum up to Rs. 62,500 and being a participating policy, Simple Reversionary Bonuses and Terminal Bonus are also available to him. Thus, at the end of the policy term, when Ankit turns 60, he ends up with Rs. 11,85,688 or Rs. 17,50,500 depending on if the interest rate for bonuses is 4% or 8% respectively.

    In case of the unfortunate event of Ankit’s demise before the policy had matured, depending on his nomination details, either his wife, kids or parents would have received an amount as Death Benefit. The benefit under Maturity or Death will not be taxable subject to prevailing tax laws.

    Premium Payment for Tata AIA Money Maxima Policy

    The details of premium payment for this plan can be summarised in the table below -

    Premium Parameter



    Minimum of Rs. 12,000 per annum and no maximum limit

    Premium Paying Term

    Same as the chosen policy term

    Premium Paying Frequency

    Premiums can be paid in monthly, semi-annual and annual frequencies

    Premium Paying Modes

    ECS, debit cards, credit cards, cheques and other acceptable modes


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