(A Non-Linked Participating Individual Life Insurance Savings Insurance Plan)
With Max Life Future Genius Education Plan provide for your child’s higher education needs and financial emergencies through disciplined savings.
Between 13-21 years depending on your child’s graduation needs
Money backs depending on the education needs of your child
Get enhanced protection through Riders
Rs.3,27,000 (8 Pay variant)
Rs. 2,12,000 subject to minimum premium limit (Limited Pay variant)
Maximum: No limit, subject to limits determined in accordance with the Board approved underwriting policy of Max Life Insurance
Minimum: 21 years
Maximum: 45 years
Maturity Age: 66 years
Minimum: 13 years
Maximum: 21 years
Provides comprehensive Death Benefit in case of death of Life Insured
Multiple Settlement options available:
Lump Sum Death Benefit option
Monthly Income Death Benefit option
Policy Continuance Benefit: In addition to Death Benefit, all future premiums will be waived and all benefits, that is, Survival Benefits & Maturity Benefits are paid to the beneficiary as and when due, thus, ensuring that your dream for your child’s future is taken care of even in your absence
Survival Benefit: Four money backs each equal to 25% of Sum Assured are payable in the last four policy years.
Money back 1 (Policy Term less 3 years)
Money back 2 (Policy Term less 2 years)
Money back 3 (Policy Term less 1 year)
Money back 4 (at the end of Policy Term)
Terminal Bonus (if any): is an additional bonus paid only once on earlier of maturity/ surrender
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. Tax benefits are subject to change in tax laws. It is advisable to seek an independent tax advice
Max Life Term Plus Rider (UIN:104B026V03) - provides additional lump sum benefit in case of death of the Life Insured
Max Life Accidental Death & Dismemberment Rider (UIN:104B027V03) - Extended protection cover for the family in case of dismemberment or death of the insured due to accident
Max Life Waiver Of Premium Plus Rider (UIN:104B029V03) - provides waiver of all future premiums in case of Critical Illness or dismemberment or Death
Seamless Claim Settlement Process:
Flexible Premium Payment Options:
Premium Payment Term:
8 pay variant (8 years)
Limited Pay variant - Policy Term less 3 years
Minimum – 5 years; Maximum – Up to selected Policy Term
*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.
#Please note that the above-assumed rates of return, 4% and 8%, are only scenarios at these rates after recovering all applicable charges. These are not guaranteed and they are not the upper or lower limits of returns of the Funds selected in your policy, as the performance of the Funds is dependent on a number of factors including future investment performance
^Please note, on completion of Policy Term one-time Terminal bonus (if any) and accrued Paid Up Additions (if any) shall be payable as Maturity Benefit
^^The nominee can also choose to take Death Benefit as monthly income in which case he/she will get Rs.16,857as monthly income for 135 months.
1. Kindly note that the above case studies are only examples and do not in any way create any rights and/or obligations. The actual experience of the policy may be different from what is shown above. The above scenarios are depicted at 4% and 8% investment returns with no PUA withdrawals during the Policy Term. These illustrated rates of investment returns are not guaranteed and they are not the upper or lower limits of returns of the Funds selected in your policy, as the performance of the Funds is dependent on a number of factors including future investment performance
2. Bonuses are non-guaranteed and are declared at the sole discretion of the Company.
3. For more information, please request for your Policy specific benefit illustration.
4. Total Payout= Survival Benefit+ Accrued Paid Up Additions and Terminal Bonus
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/FGEP/Web Page/Feb 2020
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