Max Life Assured Wealth Plan
(A Non-Linked Non-Participating Individual Life Insurance Savings Plan; UIN:104N096V03)
With Max Life Assured Wealth Plan, you guaranteed returns to build your wealth. Monthly Income Advantage Plan, get guaranteed monthly income for 10 years to meet your recurring expenses and lump-sum benefit ensuring that your dreams for your loved ones are addressed at all times.
1. Why This Plan?
Get fully guaranteed lump sum maturity benefit to meet your savings goals
Build wealth in a short time by saving systematically through short premium payment term of 5, 8, 10 years
Lump sum death benefit is paid immediately on death of Life Insured ensuring complete financial security for your loved ones in your absence
Enhanced protection through Riders
2. Sum Assured and Eligibility
Sum Assured : Min: Rs.2,09,600
Entry Age : Min. 91 days, Max. 18 years
Maturity Age: Min. 18 Years, Max. 70 Years
Policy Premium Term (PPT): For PPT 5: 10, 15, 20 years, For PPT 8: 16 years, For PPT 10: 15, 20 years
3. Death Benefit :
Lump sum ‘Death Benefit’ is payable immediately on the death of the life insured and is defined as the higher of:
10 times the Annualised Premium*,
105% of all premiums paid as on the date of death of life insured,
Guaranteed Sum Assured on Maturity,
Any absolute amount assured to be paid on death#
The policy gets terminated after payment of Death Benefit
* Annualized Premium includes extra premium (if any).
# Absolute amount assured to be paid on death is equal to zero under this product.
4. Maturity Benefit:
Maturity benefit is equal to Guaranteed Sum Assured on Maturity (GSAM), Min GSAM- Rs.1,61,225. The policy gets terminated after the payment of maturity benefit
5. Get 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. It is advisable to seek an independent tax advice
6. Flexible Premium Payment Options :
Premium Payment Term: 5, 8, 10 years
Payment Mode: Monthly, Annual
7. Add Riders :
Max Life Waiver of Premium Plus Rider (UIN: 104B029V03) - Provides waiver of all future premiums in case of Critical Illness or dismemberment or Death (only when Life Insured and Policyholder are different individuals). This product doesn’t have an inbuilt Waiver of Premium benefit and thus rider benefit is an additional benefit
Max Life Accidental Death and Dismemberment Rider (UIN: 104B027V03) - Provides additional benefits in case of death or dismemberment of the Life Insured due to an accident
Max Life Term Plus Rider (UIN: 104B026V03) - Provides additional lump sum benefit in case of death of the Life Insured
For more details on Riders, please refer to the respective Rider Prospectus
8. 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.
Link to Claim Settlement Section / FAQs and Numbers.
Life Insurance coverage is available with this product.
The 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 Company Limited is a Joint Venture between Max Financial Services Limited and Mitsui Sumitomo Insurance Co. Ltd. Max Life Insurance Co. Ltd.11th Floor, DLF Square Building, Jacaranda Marg, DLF City Phase II, Gurugram - 122002 (Haryana). IRDAI Registration No. – 104. For more details on 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. Trade logos displayed belong to Max Financial Services Limited and Mitsui Sumitomo Insurance Co. Ltd. respectively and are used by Max Life Insurance Co. Ltd. under a license. Insurance is the subject matter of solicitation. For more details on the rider and the various terms and conditions, please refer to the Rider Prospectus(s) available at www.maxlifeinsurance.com. For further details, call Customer helpline number -1860 120 5577
YES BANK Limited is the Corporate Agent of Max Life Insurance Co. Ltd. Registered Office: YES BANK Tower, IFC – 2, 15th Floor, Senapati Bapat Marg, Elphinstone (W), Mumbai 400 013, India. IRDAI Certificate Regn. No. CA0125 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.
Unit Linked Insurance Products are different from the traditional Insurance products and are subject to the risk factors. The Premium paid in Unit Linked Insurance Policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the Policyholder / Insured is responsible for his / her decisions. Max Life Insurance Company Limited is only the name of the Insurance Company and Max Life Assured Wealth Plan is only the name of the Unit Linked Life Insurance contract and does not in any way indicate the quality of the contract, its future prospects or returns. Please know the associated risks and the applicable charges from your insurance agent or the intermediary or policy document of the insurer. 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 and returns. For more details on risk factors, terms and Conditions please read Prospectus carefully before concluding a sale. Past performance of the funds does not indicate the future performance of the funds.
ARN: Max Life/YBL/Website/AWP/ Jan 2020
BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS / FRAUDULENT OFFERS
IRDAI clarifies to public that
IRDAI or its officials do not involve in activities like sale of any kind of insurance or financial products nor invest premiums.
IRDAI does not announce any bonus.
Public receiving such phone calls are requested to lodge a police complaint along with details of phone call, number.
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