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A Non-Linked Participating Individual Life Insurance Savings Plan

UIN: 104N080V04

With Max Life Whole Life Super, get a plan that ensures cover till the age of 100 years and a legacy for the next generation

key attractions

Protection till age of 100 years

This plan offers you guaranteed^^ protection which continues to grow through bonuses till age 100 years

Flexible Premium Payment terms

Choose between 10/15/20 years Premium Payment term options as per your convenience

Flexible Withdrawal Options

Flexibility to withdraw the accumulated bonus (Cash value of Paid Up Additions) to meet unplanned expenses

Eligibility

  • Guaranteed Maturity Sum Assured:

    • Minimum: Rs. 50,000

    • Maximum: No Limit subject to limits determined in accordance with the Board approved underwriting policy of Max Life Insurance

  • Entry Age:

    • Minimum: 18 years

    • Maximum: Refer to the table below

Premium Payment Term

Maximum Entry Age(in years)

10

60

15

55

20

50

  • Maturity Age: 100 years

  • Policy Term: Up to age 100 years of Life Insured where Policy Term = [Age 100 - Age at Entry of Life Insured]

  • Premium Payment Term:

    • 10 years

    • 15 years

    • 20 years

Benefits

Death Benefit:

On death during the term of the policy, 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 Premium, if any)

  • 105% of all the (Total Premiums Paid** plus Underwriting ***Extra Premium plus Loading for modal premiums paid as on the date of death of the Life Insured)

  • Guaranteed Sum Assured on Maturity chosen by the Policyholder at policy inception

The policy will terminate in case of the death of the Life Insured.

For example - Assume the Annualised Premium of a policy is ₹15,000. The monthly premium for such a policy would be ₹1,350 (i.e. ₹15,000 multiplied by modal factor of 0.09). The death benefit in both the cases i.e. for the policy taken in annual premium payment mode and that taken in monthly premium payment mode will be same and would be determined as higher of

  • 11 times ₹15,000 (Annualised Premium*)

  • 105% of total premium paid** as on the date of death

  • Guaranteed Sum Assured on Maturity

 

Maturity / Survival Benefit:

On maturity, that is, policy anniversary coinciding with or immediately following Life Insured’s 100th birthday, the following benefit will be paid:

  • Guaranteed Sum Assured on Maturity, plus

  • Accrued Paid Up Additions (if any), plus

  • Terminal Bonus (if any)

 

Rider:

  • 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 Brochures (or www.maxlifeinsurance.com) for more details on Riders

 

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; and remains same irrespective of the premium payment mode.

**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

Payment Options

Flexible Premium Payment Options:

  • Premium Payment Term:

    • 10 years

    • 15 years

    • 20 years

  • Payment Mode:

    • Annual

    • Semi-Annual

    • Quarterly

    • Monthly

How Does It Work?

 

Illustration Disclaimer:

* 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. 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.

Disclaimers

^^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 Whole Life Super, A Non-Linked Participating Individual Life Insurance Savings Plan UIN- 104N080V04 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/WLS/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: 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.

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

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Documents Required

  • MaxLife Whole Life Super - Premium Table
  • Commission Disclosure
  • MaxLife Whole Life Super - Leaflet
  • Rider Prospectus (UIN - 104B029V03)
  • Rider Prospectus (UIN - 104B027V03)
  • Rider Prospectus (UIN - 104B026V03)
  • MaxLife Whole Life Super - Product Prospectus
  • MaxLife Whole Life Super - Standard Disclaimer