Jan 24, 2010 04:45 AM
20336 Views
I took the Tata Aig Mahalife policy finding it attractive in terms of a 5% return after 12 years and Non Guaranteed Bonus from the 6th year onwards.
I was told that Tata AIG is such a big company that they would give a minimum of 2-4 % of sum assured as Non Guranteed Bonus from the 6th policy year onwards.
So I took the policy of 500 Thousand and was paying approx 34000 Indian rupees as annual premium since past 6 years. Now they have paid me the non Guaranteed bonus of 0.525% for 2008-09 and a 0.40% for year 2009-10.So effectively after paying 34000* 6= 2, 04, 000/- I get a return of only 2000/- only from the 6th year onwards.
The Tata AIG website does not display this information on their website.
I am disappointed to have taken this policy and advice people to look at Mutual funds for better stabler returns over long term.
