• Close
Explore Products

Help Us To Help You

Thank you for your interest. Our representative will get in touch with you shortly

You may be eligible for a pre approved loan.
Login to NetBanking

(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.



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- , 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/SAP/Web Page/Feb 2020


  • 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.

what would you like to do next?

Important Documents
download app
Android App for YES BANK
App Store for YES BANK
yes pay wallet

Digital Wallet with free Virtual card and UPI which can be used to send/receive money, mobile/DTH recharge, pay bills and much more

Read More

Download Forms

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