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

UIN: 104N076V09

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.

 

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/ GLIP/Web Page/Feb 2020

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.

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Documents Required

  • MaxLife Guranteed Lifetime Income Plan - Premium Table
  • Commission Disclosure
  • MaxLife Guaranteed Lifetime Income Plan - Leaflet
  • MaxLife Guaranteed Lifetime Income Plan - Product Prospectus