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Max Life Shiksha Plus Super

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

UIN: 104L084V04

With Max Life Shiksha Plus Super Plan, get a savings Plan for your child designed to provide adequate funds at key educational milestones and take care of your child’s future even if you are not around.

key attractions

Comprehensive Protection for your Child’s Future

Funds to meet your child's education costs, future expenses and emergencies

Flexible Investment Options

Insurance with flexibility to invest in market with multiple fund options

Flexible Withdrawal Options

Make partial withdrawals to meet unplanned expenses


  • Sum Assured (Minimum)

    • Rs. 5,00,000 (5 Pay variant)

    • Rs. 2,50,000 for annual mode (Regular Pay variant)

    • Rs.4,80,000 for non-annual mode

  • Entry Age:

    • Minimum: 21 years

    • Maximum: 50 years

  • Policy Term:

    • 10 years (5 Pay Variant)

    • 15 to 25 years (Regular Pay Variant)

  • Maturity Age:

    • 60 years (5 Pay Variant)

    • 65 years (Regular Pay Variant)

The Policyholder (who shall also be the ) should have a child (own or legally adopted) aged between 0 days to 18 years to propose for the plan.


Death Benefit:

  • Lump sum Payout on death - Higher of Sum Assured or 105% of all premiums paid or (0.5 times Policy Term times Annualised Premium*) shall be payable immediately on death

  • Family Income Benefit (FIB) - A Family Income Benefit equal to 10% of the Sum Assured will be paid on each Policy anniversary following or coinciding with the date of death of the Life Insured till the end of the Policy Term, but not exceeding 10 such installments

  • Funding of Premium (FOP) – On death of the insured, Max Life Insurance Company will fund all future outstanding premiums as and when due under the Policy and the Fund Value will be paid on maturity


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)


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

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

Payment Options

Flexible Premium Payment Options:

  • Premium Payment Term:

    • 5 years (5 Pay variant)

    • 15 to 25 years (Regular Pay variant)

  • Payment Mode:

    • Annual

    • Semi-Annual

    • Quarterly

    • Monthly


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


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 Securities

Corporate Bonds

Money Market & Cash Instruments

Equity & Equity related securities

Risk Rating

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

An open ended equity multicap fund with focus on midcaps





Very High

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

An open ended equity fund with focus on large caps






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

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






Balanced Fund
(SFIN: ULIF00225/06/04LIFEBALANC104)

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






Conservative Fund

An open ended hybrid fund investing predominantly in debt instruments






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

An open ended debt fund which invests across duration






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

An open ended debt fund which invests across duration






How Does It Work?

Scenario 1:




Scenario 2:



Illustration Disclaimer:

*Annualised Premium includes extra premium (if any) but excludes all applicable taxes, cesses and levies as imposed by the Government as 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.


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 Shiksha Plus Super, A Unit Linked Non-Participating Individual Life Insurance Plan UIN- 104L084V04 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.

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


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 /SPS/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:, Website:

Beware of Spurious Phone calls and Fictitious/Fraudulent offers:

  1. IRDAI is not involved in activities like selling of insurance policies or announcing bonus or investment of premiums.

  2. Public receiving such phone calls are requested to lodge a police complaint.

For more details on YES Bank copyright & disclaimer and Privacy Policy, please visit our website

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  • MaxLife Shiksha Plus Super - Premium Table
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