Max Life Future Genius Education Plan

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MAX LIFE FUTURE GENIUS EDUCATION PLAN

Max Life Future Genius Education Plan

Max Life Future Genius Education Plan – A Non Linked Participating Savings Insurance Plan (UIN - 104N094V02)

Life Insurance coverage is available in this product

Benefits under this plan –

1. Guaranteed Moneybacks - Four Guaranteed Moneybacks payable annually in the last four years of policy term

2. Maturity Benefit – Accrued Paid Up Additions (if any) and Terminal Bonus (if any)

3. Complete financial security in case of death - Lump Sum Death Benefit or Monthly Income Death Benefit options, Policy Continuance Benefit

4. Choice of Policy Term (13 to 21 years ) and Premium Payment Term (8 years or Policy Term less 3 years)

5. Flexibility to time your survival benefits through deferment or discounting options

6. Enhanced protection through Riders

7. Tax Benefit as per the prevailing tax laws

Key Features:

Feature	Specification
Coverage	All individuals in accordance with Board approved underwriting policy of the Company
Minimum / Maximum Age of the Life Insured at Entry (age as on last birthday)	Minimum - 21 years Maximum - 45 years
Maximum Maturity Age of the Life Insured (age as on last birthday)	66 years
Moneyback Benefit	Four annual Guaranteed moneybacks each equal to 25% of Sum Assured payable in the last four years of Policy Term
Maturity Benefit	On maturity, the following benefit will be paid: 1.Accrued Paid Up Additions (if any) or Cash Bonus Dividends paid to policyholders from funds created out of profits realised by the company (if any),whichever is applicable, plus 2.Terminal Bonus Dividends paid to policyholders from funds created out of profits realised by the company (if any) Please note, the Accrued Paid Up Additions and Terminal Bonus Dividends paid to policyholders from funds created out of profits realised by the company are payable under the Policy only if they have accrued on the Maturity Date and these amounts are not guaranteed. Any instalment of the Survival Benefits Payment which is due on the Maturity Date is guaranteed The policy gets terminated after payment of the maturity benefit though monthly incomes remaining (if any) under settlement option shall continue, if not commuted.
Sum Assured	Minimum: 8 Pay variant : Rs. 3,27,000 Limited Pay variant : Rs. 2,12,000 (subject to minimum premium limit) Maximum: No limit, subject to limits determined in accordance with the Board approved underwriting policy of the Company
Minimum Annual Premium	For 8 Pay variant – Rs. 40,000 For Limited Pay variant (Policy Term less 3 years) – Rs. 20,000 The minimum premium is exclusive all applicable taxes, cesses and levies as imposed by the Government, modal extra and extra premium (if any)
Premium Payment Modes	Annual, Semi – Annual, Quarterly & Monthly premium payment modes. The premium payment mode can be changed during the policy term provided the limits of minimum premium are adhered to and the Sum Assured remains unchanged but will be applicable from next policy anniversary.
Maximum Annual Premium	No limit.
Policy Term	Pick any term from 13 years to 21 years.
Death Benefit	Following shall be payable on death of the Life Insured during the Policy Term provided the Policy is in-force:- Death Benefit; plus Policy Continuance Benefit 1. Death Benefit is payable immediately on death of the Life Insured and is defined as higher of: i)11 times the Annualised Premium, ii)105% of all premiums paid as on the date of death of Life Insured, iii)Guaranteed Sum Assured on Maturity Sum Assured on maturity is equal to zero under this plan as all guaranteed benefits are payable in the form of 4 Survival Benefit’ mentioned under “Survival Benefit’ iv)Any absolute amount assured to be paid on death( this is equal to sum assured ) 2. Policy Continuance Benefit – All due premiums, if any, coinciding or following the date of death of the Life Insured shall be waived and the Policy will continue as is and the Survival Benefit and Maturity Benefit shall be payable to the beneficiary. A person(s) designated by the policy owner to receive the proceeds of an insurance policy upon the death of the insured. as and when due. Policy shall participate in future bonuses.
Riders	1) Max Life Term Plus Rider (UIN-104B026V02) - Additional lumpsum death benefit in case of death of Life Insured 2) Max Life Accidental Death & Dismemberment Rider (UIN-104B027V02) - Lumpsump benefit in case of death/dismemberment of Life Insured due to accident 3) Max Life Wavier Of Premium Plus Rider (104B029V02) Wavier of all future premiums in case of an eventuality.

Please note Policyholder and Life Insured under the product cannot be different.

Risk coverage is available throughout the Policy Term.

Disclaimers:

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 Limited, Nehru Centre, 9^th Floor, Discovery of India, Dr. A.B. Road, Worli, Mumbai – 400 018. 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.

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

ARN: Max Life/YBL/FGEP/Web content/ Jan 2018