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(A Unit-linked Non-Participating Individual Life Insurance Plan)

UIN: 104L090V04

With Max Life Platinum Wealth Plan, accumulate and grow your savings through market-linked returns and additional wealth boosters which will help you achieve your long-term goals easily and protect your family’s future.

key attractions

Flexible Investment Options

Enjoy market-linked returns by investing in any of the six fund options

Comprehensive Life Insurance

Coverage of 10 times the Annualised premium* and plus additional life cover

Guaranteed** Loyalty Additions and Guaranteed** Wealth Boosters

Enjoy Guaranteed** Loyalty Additions and Guaranteed** Wealth Boosters to further enhance your Policy Fund Value

Eligibility

  • Sum Assured: Minimum

    • Rs.2,50,000 (Single Pay)

    • Rs. 20,00,000 (Limited Pay and Regular Pay)

  • Entry Age:

    • Minimum: 91 days

    • Maximum:

      • 60 years (Single Pay and Limited Pay)

      • 55 years (Regular Pay)

  • Policy Term:

    • 10 years (Single Pay)

    • 10 - 20 years (Regular Pay and Limited Pay)

  • Maturity Age:

    • Minimum: 18 years

    • Maximum:

      • 70 years (Single Pay and Limited Pay)

      • 65 years (Regular Pay)

Benefits

Death Benefit:

The Death Benefit is defined as higher of following:

Single Pay Variant:

  • Sum Assured equal to 1.25 times the Single premium (reduced by applicable partial withdrawals, if any), or

  • 105% of cumulative premiums paid till the date of death, or

  • Total Fund Value (as on the date of death)

For Limited Pay/ Regular Pay Variant:

  • Sum Assured equal to higher of 10 times the Annualised premium* (reduced by applicable partial withdrawals, if any), or

  • 105% of cumulative premiums paid till the date of death, or

  • Total Fund Value (as on the date of death)

 

Maturity / Survival Benefit:

  • On maturity, you will be eligible to receive an amount equal to the Fund Value (provided settlement option has not been exercised).

 

Riders:

Max Life Partner Care Rider (UIN:104A023V02) - Sum of all future premiums payable under the base policy or till Life Insured attains an age of 60 years (whichever is earlier), will be paid immediately on Life Insured's death and the rider will terminate.

For more details on Riders, please refer to the respective Rider Prospectus.

 

Guaranteed** Wealth Boosters:

Apart from the Guaranteed** Loyalty Additions the company will also pay Guaranteed** Wealth Boosters to You, which is additional percentage of Fund Value to be added to the Fund by creation of additional units, at the end of every 5 years starting from 10th policy year.

  • Band 1: Annualised premium* is Less than 5 Lakhs (Guaranteed** Wealth Booster: 2% of Fund Value to be paid at the end of Year 10, 15 and 20 years)

  • Band 2: Annualised premium* is 5 Lakhs or more (Guaranteed** Wealth Booster: 2.5% of Fund Value to be paid at the end of Year 10, 15 and 20 years.

 

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. Tax benefits are subject to change in tax laws. It is advisable to seek an independent tax advice.

 

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.

Payment Options

Flexible Premium Payment Options:

  • Premium Payment Term:

    • Single Pay

    • 5 years (5 Pay)

    • 20 years (Regular Pay)

  • Payment Mode:

    • Single Pay

    • Annual

    • Half Yearly

    • Quarterly

    • Monthly

 

Choose Your Investment Strategy:

  • You may choose to invest in six funds available in this plan.

  • Option to choose for either Systematic Transfer Plan or Dynamic Fund Allocation strategy

Fund Name

Nature of Fund

Government

Corporate

Money Market

Equity & Equity

Risk Rating

Securities

Bonds

& Cash Instruments

related securities

High Growth Fund
(SFIN: ULIF01311/02/08LIFEHIGHGR104)

An open ended equity multicap fund with focus on midcaps

0%-30%

0%-30%

0%-30%

70%-100%

Very High

Growth Super Fund
(SFIN: ULIF01108/02/07LIFEGRWSUP104)

An open ended equity fund with focus on large caps

0%-20%

0%-20%

0%-30%

70%-100%

High

Growth Fund
(SFIN: ULIF00125/06/04LIFEGROWTH104)

An open ended hybrid fund with equity portion focused on large caps

0%-30%

0%-30%

0%-40%

20%-70%

High

Balanced Fund

(SFIN: ULIF00225/06/04LIFEBALANC104)

An open ended hybrid fund investing in a mixture of debt instruments and equities

20%-50%

20%-40%

0%-40%

10%-40%

Medium

Conservative Fund
(SFIN: ULIF00325/06/04LIFECONSER104)

An open ended hybrid fund investing predominantly in debt instruments

50-80%

0-50%

0-40%

0%-15%

Low

Secure Fund (SFIN: ULIF00425/06/04LIFESECURE104)

An open ended debt fund which invests across duration

50-100%

0-50%

0-40%

Nil

Low

Secure Plus Fund (SFIN: ULIF01628/04/09LIFESECPLS104)
(Available with Systematic Transfer Plan only)

An open ended debt fund which invests across duration

60-100%

0-40%

0-40%

Nil

Low

How Does It Work?

Scenario 1:

 

Scenario 2:

 

Illustration disclaimer

*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.

#Please note that the above assumed rates of return @ 4% and 8% p.a. respectively, for Growth Super Fund, 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. For more information, please request for your policy specific benefit illustration.

Disclaimers

**The Guaranteed and Non-Guaranteed benefits are applicable only if all due premiums are paid

 

THE LINKED INSURANCE PRODUCTS DO NOT OFFER ANY LIQUIDITY DURING THE FIRST 5 YEARS OF THE CONTRACT. THE POLICYHOLDER WILL NOT BE ABLE TO SURRENDER/WITHDRAW THE MONIES INVESTED IN LINKED INSURANCE PRODUCTS COMPLETELY OR PARTIALLY TILL THE END OF 5th YEAR. ALL APPLICABLE TAXES, CESSES AND LEVIES AS IMPOSED BY THE GOVERNMENT TO TIME WILL BE DEDUCTED FROM THE PREMIUM RECEIVED.

The linked insurance products do not offer any liquidity during the first five years of the contract. The policyholder will not be able to surrender/withdraw the monies invested in linked insurance products completely or partially till the end of fifth year. Applicable taxes , cesses and levies as imposed by the government from time to time will be deducted from the premiums received or from the funds , as applicable.

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 Platinum Wealth Plan, A Unit Linked Non-Participating Individual Life Insurance Plan UIN- 104L090V04 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.

Investment risk in the investment portfolio is borne by the Policy Holder. The premium paid in Unit Linked Life Insurance policies are subject to investment risks associate with capital markets and the NAVs of the units may go up or down based on the performance of the fund and factors influencing the capital market and the insured is responsible for his or her decision. Max Life Insurance Company Limited is only the name of the Insurance Company and the funds offered are only the names of the funds and does not in any way indicate the quality of the contract, its future prospects or returns

Unit Linked Insurance Products (ULIPs) are different from the traditional insurance products and are subject to the risk factors. Please know the associated risks and the applicable charges from your Insurance agent or the Intermediary or policy document issued by the insurance company. The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these funds, their future prospects or returns. Past performance is not necessarily indicative of future performance

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 /PWP/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.

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Documents Required

  • MaxLife Platinum Wealth Plan - Premium Table
  • Commission Disclosure
  • MaxLife Platinum Wealth Plan - Leaflet
  • Rider Prospectus (UIN - 104A023V01)
  • MaxLife Platinum Wealth Plan - Product Prospectus
  • MaxLife Platinum Wealth Plan - Standard Disclaimer