OREANDA-NEWS. Income protection is a key requirement in today's environment. Tata AIA Life Insurance Company (Tata AIA Life) helps fulfil this critical need through Tata AIA Life Insurance MahaLife Magic, a simple offering that provides income protection along with attractive returns.

“Our research shows that customers have varying expectations from their insurance product, be it life protection over longer durations or attractive returns to fulfil their long-term goals. Tata AIA Life Insurance MahaLife Magic is a limited pay plan which provides our customer with the dual benefits of protection and growth. In addition, it helps in building up of customer's target corpus through the magic of compounding,” said Shivdutt Das, vice president, product development, Tata AIA Life.

Tata AIA Life has launched a bouquet of solutions compliant with the new IRDA guidelines applicable from January 1, 2014. A key highlight of these solutions is the higher protection cover that is now available to existing and prospective customers. These new offerings also provide additional benefits such as liquidity and flexibility of plan duration.

“It is our constant endeavour to serve our customers and partners better by offering solutions which are 'easy to buy, easy to sell'. As an important step in this direction, Tata AIA Life is one of the first insurance companies to fully switch over to a standard proposal form for all its products, thereby offering convenience in completion of applications to its customers. This also simplifies the sales kits of our advisors as they won't have to carry different proposal forms for different products,” added Mr Das.