(A Non-Linked Non-Participating Individual Life Insurance Savings Plan)
With Max Life Assured Wealth Plan, get assurance on returns as well as fulfillment of your financial goals.
Get fully guaranteed** lump sum maturity benefit to meet your savings goals
Build wealth in a short time by saving systematically through short premium payment term
Lump sum death benefit is paid immediately on death of Life Insured, with Rider options
Guaranteed** Sum Assured at Maturity: Minimum: Rs. 1,61,225
Entry Age :
Minimum: 91 days
Maturity Age: 70 years
Policy Term: 10 years, 15 years, 20 years
For Premium Payment Term 5 years, Policy Term 10, 15, 20 years
For Premium Payment Term 8 years, Policy Term 16 years
For Premium Payment Term 10 years, Policy Term 15, 20 years
Premium Payment Term:
Death Benefit :
Lump sum ‘Death Benefit’ is payable immediately on the death of the Life Insured and is defined as the higher of:
10 times the Annualised Premium* and underwriting extra premium (if any),
105% of Sum of Total premiums paid^ plus underwriting extra premiums^^ plus loadings for modal premium(if any) as on the date of death of life insured,
Guaranteed** Sum Assured on Maturity,
Any absolute amount assured to be paid on death#
The policy gets terminated after payment of Death Benefit
Maturity Benefit :
Maturity benefit is equal to Guaranteed** Sum Assured on Maturity (GSAM). The policy gets terminated after the payment of maturity benefit
Tax Benefits :
You may be entitled to certain applicable tax benefits on your premiums and Policy benefits. Please note that all the tax benefits are subject to tax laws prevailing at the time of payment of premium or receipt of benefits by you. It is advisable to seek an independent tax advice
Max Life Waiver of Premium Plus Rider (UIN:104B029V03): Provides waiver of all future premiums in case of Critical Illness or dismemberment or Death (only when Life Insured and Policyholder are different individuals). This product doesn’t have an inbuilt Waiver of Premium benefit and thus rider benefit is an additional benefit
Max Life Accidental Death and Dismemberment Rider (UIN:104B027V03): Provides additional benefits in case of death or dismemberment of the Life Insured due to an accident
Max Life Term Plus Rider (UIN:104B026V03): Provides additional lump sum benefit in case of death of the Life Insured
For more details on Riders, please refer to the respective Rider Prospectus.
Seamless Claim Settlement Process :
Nominee contacts Max Life and a dedicated Claims relationship officer is assigned to him / her to assist in the claims process
- *Annualised Premium: means Premium amount payable during a Policy Year chosen by Policyholder, excluding Underwriting Extra Premium, loading for modal premium, Rider Premiums and applicable taxes, cesses or levies if any# Absolute amount assured to be paid on death is equal to zero under this product
- ^Total Premiums Paid: means the total of all Premiums received, excluding Underwriting Extra Premium, loading for modal premium, Rider Premiums, and applicable taxes, cesses or levies, if any
- ^^Underwriting Extra Premium: means an additional amount charged by Us, as per Underwriting Policy, which is determined on the basis of disclosures made by Policyholder in the Proposal Form or any other information received by Us including medical examination report of the Life Insured
- #Absolute amount assured to be paid on death: is equal to zero under this product.
Flexible Premium Payment Options :
Premium Payment Term:
*Annualised Premium shall be the premium amount payable in a policy year chosen by the policyholder, excluding Extra Premium, Rider Premium, loading for modal premiums and applicable taxes, cesses and levies, if any.
Kindly note that the above illustrations are only examples and do not in any way create any rights and/or obligations.
**The Guaranteed and Non-Guaranteed benefits are applicable only if all due premiums are paid.
LIFE INSURANCE COVERAGE IS AVAILABLE IN THIS PRODUCT.THIS LIFE INSURANCE PRODUCT IS OFFERED AND UNDERWRITTEN BY MAX LIFE INSURANCE CO. LTD. THE LIFE INSURANCE CONTRACT IS BETWEEN THE PROPOSER AND MAX LIFE INSURANCE CO. LTD.
Max Life Insurance Company Limited is a Joint Venture between Max Financial Services Limited and Mitsui Sumitomo Insurance Co. Limited. Max Life Insurance Co. Ltd., 11th Floor, DLF Square Building, Jacaranda Marg, DLF City Phase II, Gurugram (Haryana) -122 002. For more details on the risk factors, terms and conditions, please read the prospectus carefully before concluding a sale.
You may be entitled to certain applicable tax benefits on your premiums and policy benefits. Please note all the tax benefits are subject to tax laws prevailing at the time of payment of premium or receipt of benefits by you. Tax benefits are subject to changes in tax laws. Insurance is a subject matter of solicitation. Trade logos displayed belong to Max Financial Services Ltd. and Mitsui Sumitomo Insurance Co. Ltd. respectively and are used by Max Life Insurance Co. Ltd. under a license. You can call us on our Customer Helpline No. 1860 120 5577, Website- https://www.maxlifeinsurance.com/ , SMS 'LIFE' to 5616188.
YES BANK Limited is the Corporate Agent of Max Life Insurance Co. Ltd. Registered Office: YES BANK Limited, IFC - 2, 15th Floor, Senapati Bapat Marg, Elphinstone Marg (W), Mumbai – 400013. The purchase of a Max Life Insurance product by YES BANK’s customer is purely on a voluntary basis. As YES BANK is not in the business of insurance, there is no link either direct or indirect between the banking services offered by the bank to its customers and use of the insurance products.
IRDAI Certificate Regn. No. CA0125
IRDAI Regn. No: 104
ARN No.: Max Life/Yes Bank/AWP/Web Page/May 2020
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