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(A Non-Linked Non-Participating Individual General Annuity Savings Plan)

UIN: 104N076V10

With Max Life Guaranteed Lifetime Income Plan, convert your life-savings into a life-long income.

key attractions

Guaranteed## Income

Guaranteed## income for you and your partner (under the joint life annuity)

Return of Purchase Price

After the death of the annuitant(s), nominee will get the purchase price of the policy

Multiple Annuity Options

Single Life or Joint Life Annuity to receive payments as long as you or your partner is alive

Eligibility

  • Entry Age :

    • Immediate Annuity:

      • Minimum:50 years

      • Maximum: 80 years

    • Deferred Annuity:

      • Minimum: 45 years

      • Maximum: 80 years

Benefits

Annuity Options:

IMMEDIATE ANNUITY:

  • Single Life Annuity for life (without any death benefit):

    • You will receive a fixed income, guaranteed## at the policy inception, throughout your life

  • Single Life Annuity for life (with death benefit) payable on death:

    • You will receive a fixed income, guaranteed## at the policy inception, throughout your life. On death, 100% of the purchase price (excluding all applicable taxes, cesses and levies as imposed by the Government) will be paid to your nominee

  • Joint Life Annuity for life (without any death benefit):

    • You can extend the lifelong income benefit to your life partner (annuitant) with Joint Life Annuity for life. A fixed income, guaranteed## at the policy inception, will be paid as long as at least one of the annuitants is alive. Payments will cease on the death of the last survivor (annuitant)

  • Joint Life Annuity for life (with death benefit) payable on death of the last survivor:

    • A fixed amount, guaranteed## at the policy inception, will be paid as long as at least one of the annuitants is alive. On the death of the last survivor, 100% of the purchase price (excluding all applicable taxes, cesses and levies as imposed by the Government) will be paid to your nominee

 

DEFERRED ANNUITY:

  • Single Life Deferred Annuity for life (with death benefit) payable on death:

    • A fixed income guaranteed at the policy inception will be paid to the annuitant throughout life, after deferment period is over and as per the chosen mode. Income payment will cease on the death of the annuitant and Death benefit shall be paid to the nominee(s)

  • Joint Life Deferred Annuity for life (with death benefit) payable on death

    • A fixed income guaranteed at the policy inception will be paid as long as at least one of the annuitants is alive, after the deferment period is over and as per the chosen mode. Income payment will cease on death of the last survivor and Death benefit shall be paid to the nominee(s)

Top-Up Option

  • The policyholders have the option to pay Top up premium(s) to enhance the annuity amount. The top up option is available for all the six annuity variants.

  • The Top up premium can be paid anytime during the policy contract. The annuity amount paid from the Top up premium will be dependent on the age, deferment period and annuity rate prevailing at the time of exercising the option.

Payment Options

  • Single Life Variant - Till the death of the annuitant.

  • Joint Life Variant - Till the death of the last survivor

How Does It Work?

 

Illustration Disclaimer:

*At prevailing Annuity rates which may change in future as per interest rate scenario.

Disclaimers

##The guaranteed and non-guaranteed benefits are applicable only if all due premiums are paid.

 

YES Bank is a registered Corporate Agent of Max Life Insurance Company Limited under the Corporate Agency License no. CA0125. The Life Insurance Products are offered and underwritten by Max Life Insurance Company Limited having IRDAI Registration No:104, CIN: U74899PB2000PLC045626 having its corporate office at 11th Floor, DLF Square Building, Jacaranda Marg, DLF City Phase II, Gurugram (Haryana) -122 002

Max Life Guaranteed Lifetime Income Plan, Non Linked Non Participating Individual General Annuity Saving Plan UIN- 104N076V10 are obligations only of Max Life Insurance Company Limited. They are not Bank deposits or obligations of or guaranteed by YES Bank Limited. All claims under the policy will be solely decided upon by Max Life Insurance Company Limited.

The purchase of any insurance product by YES Bank Customers is purely voluntary and is not linked to availment of any other facility from YES Bank. For more details on risk factors, benefits, waiting period, exclusions, coverage, terms and conditions please read the sales brochure carefully before concluding the sale.

Tax benefits on the Insurance Product are subject to the conditions and limits mentioned in the Income Tax Act 1961 as amended from time to time. Customer is advised to take an independent view from tax consultant.

All guaranteed benefits are payable only when applicable as per the product premiums are paid when due.

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 Co. Ltd. is a joint venture between Max Financial Services Limited and Axis Bank Ltd. Insurance is the subject matter of solicitation. For more details on the risk factors, Terms and Conditions, please read the sales and rider prospectus carefully before concluding a sale. Trade logo displayed belongs to Max Financial Services Ltd. and Axis Bank Ltd. respectively and with their consents, are used by Max Life Insurance Co. Ltd. Customer Helpline number 1860 120 5577, Website- https://www.maxlifeinsurance.com/ , SMS 'LIFE' to 5616188.

Please note that all the tax benefits are subject to tax laws at the time of payment of premium or receipt of policy benefits by you. Policy holders are advised to consult tax expert for better clarification /interpretation.

ARN: Max Life/ YES Bank /GLIP/Web page/ June 2021

IRDAI Regn No: 104 I CA Regn. No. CA0125

For any queries with respect to Insurance Policies bought through YES Bank, kindly contact us at our Toll Free No: 18001200, Email ID: yestouch@yesbank.in, Website: www.yesbank.in

BEWARE OF SPURIOUS / FRAUD PHONE CALLS!

  • IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums.

  • Public receiving such phone calls are requested to lodge a police complaint.

For more details on YES Bank copyright & disclaimer and Privacy Policy, please visit our website www.yesbank.in

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  • MaxLife Guranteed Lifetime Income Plan - Deferred Annuity Joint Life Premium Rate
  • Commission Disclosure
  • MaxLife Guaranteed Lifetime Income Plan - Leaflet
  • MaxLife Guaranteed Lifetime Income Plan - Product Prospectus
  • MaxLife Guaranteed Lifetime Income Plan - Standard Disclaimer