Max Life Guaranteed Income Plan
With Max Life Guaranteed Income Plan, get guaranteed monthly income that grows with time
1 . Why This Plan?
Guaranteed Income for 10 years that doubles after 5 years
Increasing Income benefit
Immediate payout after policy term with no waiting period
Entry Age :
Min. 25 years
Max. 60 years ( 6 year policy term); 55 years (12 year policy term)
Maturity Age: 66 years (6 year policy term); 67 years (12 year policy term)
Policy Term: 6 and 12 years
3. Death Benefit :
In case of death of the Life Insured within the Policy Term, the beneficiary shall receive the following Death Benefit:
The lump sum Death Benefit payable is equal to the Death Sum Assured, which is defined as the higher of:
10 times the Annualised Premium;
105% of total premiums paid as on the date of death of Life Insured;
Guaranteed Sum Assured on Maturity (GSAM);
Any absolute amount assured to be paid on death#;
# Absolute amount assured to be paid on death is equal to the Guaranteed Sum Assured on Death (GSAD) under this product. Guaranteed Sum Assured on Death (GSAD) is defined as 12.75 times Annualised Premium for 6 years Policy Term variant and 18.50 times Annualised Premium for 12 years Policy Term variant.
4. Maturity Benefit:
Minimum GSAM (Guaranteed Sum Assured on Maturity (GSAM) is based on the minimum annualized premium allowed and age of the Life Insured on issuance of the policy under each variant of the plan:
6 year Policy Term (Age - 60 years): Rs. 4,62,960
12 year Policy Term (Age - 55 years): Rs.2,80,887
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: 6 and 12 years
Payment Mode: Only Annual mode
7. 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.
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Premium Table :
Commission Disclosure :
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