Tata Mahalife Gold- Should I exit fom this now

POSTED BY Roy ON January 6, 2012 6:00 pm COMMENTS (3)

I have Taken Tata Maha Life Gold policy in the year 2006.Till date I have paid 6 premiums.
I need to pay my premium till 2020 (Premium amt yearly is Rs.44196.)
As per policy norms From 7th year onwards I shall be paid a bonus (Amt Unknown) and from 10th year (2016) onwards the Company will pay me 5% of the assured amount(500000) ie 25,000/- along with the bonus declared.

My query is ” Is it wise now to keep myself invested in this policy or shall I come out of this policy”.
Kindly Advise.

3 replies on this article “Tata Mahalife Gold- Should I exit fom this now”

  1. Dear Roy, For your current age 42, means you started this mahalife policy at the age of 37. So you ‘ll start receiving that bonus from your age 43-44 in year 2013. What I mean to get bonus figure was – please contact Tata AIG & try to get an idea of bonus performance.

    This bonus performance ‘ll indicate the actual calculation of your return. This policy ‘ll provide a final lump sum maturity at your death or age 100 whichever is earlier. Please do tell which is more likely for you? Death during age 75-85 or reaching age 100.

    Thanks

    Ashal

  2. Roy says:

    Dear Ashal,

    I do not know the exact amt of bonus that will be declared, but it depends on the performance of the Company. My age is 42.
    Thanks for your prompt reply.

  3. Dear Roy, First of all please try to get the bonus figure which ‘ll be payable to you from 7th year on wards. With out knowing this figure nothing can be said.What is your current age?

    Thanks

    Ashal

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