(A Non-Linked Participating Individual Life Insurance Savings Plan)
With Max Life Perfect Partner Super plan, take care of your partner’s financial needs with a life cover till you reach the age of 75 years and also enjoy stress-free post-retirement life through guaranteed** sum assured on maturity.
Get 212.5% of guaranteed** sum assured on maturity (through bonuses)
The flexibility to withdraw the accumulated bonus (cash value of Paid-Up-Additions) in case of any need
Guaranteed** life cover which continues to grow through bonuses till you reach age of 75 years
Guaranteed** Maturity Sum Assured:
Minimum. Rs.50,000, subject to minimum premium of Rs.8,500 for policies with premium Payment Term of 10/15/20 years and Rs. 20,000 for policies with premium payment term of 7 years
The minimum premium excludes underwriting extra premium, loadings for modal premiums and applicable taxes, cesses and levies, if any
Maximum: No Limit (subject to Board approved underwriting policy of the Company)
Policy Term: 75 years less Age at entry of Life Insured
Minimum: 91 days
Maximum: 45/50/55 years (based on premium payment term)
Maturity Age: 75 years
Death / Maturity Benefit:
On death during the term of the policy or on maturity (as the policyholder attains the age of 75 years or on the policy anniversary whichever happens later), the following benefits will be paid:
Guaranteed** Death Benefit, plus
Accrued Paid-Up Additions (if any), plus
Terminal Bonus (if any)
Guaranteed** Death Benefit is defined as higher of:
11 times the Annualised premium* plus underwriting extra Premiums^^, if any
105% of total premiums paid^ plus underwriting extra premiums^^ plus loadings for modal premiums by Policyholder as on the date of death of the Life Insured
Guaranteed** Maturity Sum Assured chosen by the Policyholder at policy inception
The policy will terminate in case of the death of the Life Insured
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 consultation. Tax benefits are subject to change in tax laws
Max Life Term Plus Rider (UIN – 104B026V03): Additional risk coverage in case of death of Life Insured
Max Life Accidental Death & Dismemberment Rider (UIN – 104B027V03): Additional benefit in case of death of Life Insured or dismemberment of Life Insured caused due to accident
Max Life Waiver Of Premium Plus Rider (UIN – 104B029V03): Waiver for all future premiums under a policy on earlier happening of either of the following events, provided the policy is in force: a) Critical Illness; or b) Dismemberment; or c) Death (only when Life Insured and Policyholder are different individuals)
For further details, please refer to respective rider prospectus.
Growing Life Cover through Annual Bonuses:
Bonuses (if any) will be declared every year from the end of 2nd policy year (24th policy month) on the Guaranteed** Maturity Sum Assured and from the end of 3rd policy year (36th policy month) on accrued Paid-up additions (if any) thereafter every year end
The Policyholder can take bonuses through any of the three options:
Purchase Paid Up Additions (PUA) – Bonus declared by the Company will be used to purchase Paid Up Additions
Paid In Cash - Bonus declared by the Company is paid out to the Policyholder as and when declared
Premium Offset - Bonus declared by the Company will be used to offset future premiums payable by Policyholder
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: shall be the premium amount payable in a policy year chosen by the policyholder, excluding underwriting extra Premiums, Rider Premiums, loadings for modal premium and applicable taxes, cesses and levies, if any
^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;
Flexible Premium Payment Options:
*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.
#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.
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.
2. 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.
3. Bonuses are non-guaranteed and are declared at the sole discretion of the Insurance Company
**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 Life Perfect Partner Super, Non Linked Participating Individual Life Insurance Savings Plan UIN- 104N077V03 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/LPPS/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: email@example.com, Website: www.yesbank.in
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