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(Non-Linked Participating Individual Life Insurance Savings Plan)

UIN: 104N111V02

With Max Life Savings Advantage Plan, accelerate the growth in your systematic savings to address your life goals along with protection to your family through insurance coverage

key attractions

Flexible Payment

Flexible premium payment and policy term that matches your life goals

Maturity Benefit

Get lump sum amount on maturity that is partly guaranteed**

Family's Financial Security

Protection for your family through life insurance cover


  • Entry Age :

    • Minimum:

      • 8 years (Single Pay)

      • 91 days (Limited Pay / Regular Pay)

    • Maximum:

      • 65 years (Single Pay)

      • 60 years (Limited Pay)

      • 45 years (Regular Pay)

(If Entry age of Life insured is >=56 years then Entry age of Life Insured + Premium Payment Term is <=65 years)

  • Maturity Age:

    • Minimum:

      • 18 years

    • Maximum:

      • 75 years (Single Pay)

      • 80 years (Limited Pay)

      • 65 years (Regular Pay)


Death Benefit:

On the unfortunate event of death of the Life Insured, a sum of following shall be payable:

  • Guaranteed** Death Benefit

  • Accrued Guaranteed** Additions

  • Accrued Paid Up Additions (if any)

  • Terminal Bonus (if any)

For further details, please refer to detailed prospectus.


Maturity Benefit:

In case the life insured has survived till the end of policy term, following shall be payable on maturity. Sum of:

  • 110% of Guaranteed** Sum Assured on Maturity

  • Accrued Guaranteed** Additions

  • Accrued Paid Up Additions (if any)

  • Terminal Bonus (if any)



  • 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)

Please refer to the respective Rider Prospectus for more details.


Tax Benefits:

  • As per the prevailing tax laws, the premium paid is eligible for tax exemption under section 80 C as per the Income Tax Act 1961. Death benefits received by the policyholder’s nominee are also tax free.


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.

Payment Options

Flexible Premium Payment Options:

  • Premium Payment Term:

    • Single Pay

    • Limited Pay

    • Regular Pay: 5 to 12 years

  • Payment Mode:

    • Annual

    • Semi-Annual

    • Quarterly

    • Monthly

How Does It Work?




Illustration Disclaimer:

*Annualised Premium includes extra premium (if any) but excludes all applicable taxes, cesses and levies as imposed by the Governmentas well as any loadings for modal premiums and remains same irrespective of the premium payment mode

#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.

Important Notes:

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 assumed rate of returns with 4% and 8% and these are not the upper or lower limits of what one can expect from this policy, as it is dependent on number of factors including future investment performance.

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.

For more information, please request for your Policy specific benefit illustration.


**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

Non-Linked Participating Individual Life Insurance Savings Plan UIN- 104N111V02 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.


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- , 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/SAP/Webpage/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:, Website:


  • 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 Savings Advantage Plan - Premium Table
  • Commission Disclosure
  • MaxLife Savings Advantage Plan - Leaflet
  • Rider Prospectus (UIN - 104B029V03)
  • Rider Prospectus (UIN - 104B027V03)
  • Rider Prospectus (UIN - 104B026V03)
  • MaxLife Savings Advantage Plan - Product Prospectus
  • MaxLife Savings Advantage Plan - Standard Disclaimer