Max Life Guaranteed Income Plan
(A Non-Linked Non-Participating Individual Life Insurance Savings Plan; UIN:104N085V04)
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.
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.
ARN: Max Life/YBL/Website/GIP/ 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.
Digital Wallet with free Virtual card and UPI which can be used to send/receive money, mobile/DTH recharge, pay bills and much moreRead More