Tata maha life policy

U

Uninitiated

Member
#1
#1
An agent is really pushing to get me to invest in the above policy for my 14 year old child. He is saying that the annual premium will be around 20K for 2 lakhs sum assured and that the premium paying term is 15 years. After 6 years, my child will get assured 10k per annum, perhaps more. Since the agent happens to be a relative, I cannot say an outright no. If this is a good investment, then I will go for it, otherwise I will have to decline giving some good reasons for the same. I appeal to the community here to please help. Thank you all in advance. Regards,
 
SavantGarde

SavantGarde

Well-Known Member
#2
#2
Ask your Agent/Relative what is the percentage of commission he/she is getting from this policy.

Chances are atleast 30-45% on the first premium...thereafter could be anywhere from 10-15% from subsequent premium.

You are better off investing elsewhere the amount...which will get your child more 10k every year.

Please do your research thoroughly especially before taking an insurance policy.

SavantGarde


Uninitiated said:
An agent is really pushing to get me to invest in the above policy for my 14 year old child. He is saying that the annual premium will be around 20K for 2 lakhs sum assured and that the premium paying term is 15 years. After 6 years, my child will get assured 10k per annum, perhaps more. Since the agent happens to be a relative, I cannot say an outright no. If this is a good investment, then I will go for it, otherwise I will have to decline giving some good reasons for the same. I appeal to the community here to please help. Thank you all in advance. Regards,
Click to expand...
 
K

kishdhika

New Member
#3
#3
Dear Savantji,

I had taken the same policy for SUM Assured of Rs. 1 Lakh. I have discontinued as after the stated period value of Rs. 10 K per year will be nothing. It is better that you invest the premium amount somewhere else lets say mutual fund or so and you will get more return than stated in this policy.

Secondly the sum assured is Rs. 2 Lakh, if you take term plan for the same sum assured the premium would be very very less.

As learned from this forum , keep insurance and investment separate :) !!
 
J

jerryjezza

New Member
#4
#4
Mahalife is distinctive policy provides a steady income and insurance coverage for life. Premiums are payable only for the first 12 years. You can even use this to cover future expenses of your children.
 
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