Max Life-Life Perfect Partner Super
(A Non-Linked Participating Individual Life Insurance Savings Plan; UIN:104N077V03)
With Max Life Perfect Partner Super plan, take care of your partner’s financial needs with a life cover till you reach the age of 75 years and also enjoy stress-free post-retirement life through guaranteed sum assured on maturity
1. Why This Plan?
Manage your post retirement expenses at ease through guaranteed annual money-backs
Get 212.5% of guaranteed sum assured on maturity (through bonuses) to secure your golden years of retirement
Protect your partner’s future in case of eventualities with additional riders
Growing Life Cover - guaranteed life cover which continues to grow though bonuses till you reach age of 75 years
Get life insurance coverage until the age of 75 years
2. Sum Assured and Eligibility :
Sum Assured :
Min. Rs.50,000, subject to minimum premium of Rs.8,500 for policies with
premium payment term of 10/15/20 years and Rs. 20,000 for policies with premium
payment term of 7 years.
Maximum: No Limit (subject to Board approved underwriting policy of the Company)
Entry Age : Min. 50 years, Max. 80 years
Policy Term : 75 years less Age at entry of Life Insured
Age at entry : 91 days, Max: 45/50/55 (based on premium payment term)
Maturity Age: 75 years
3. Death / Maturity Benefit :
On death during the term of the policy or on maturity (as the policyholder attains the age of 75 years or on the policy anniversary whichever happens later), the following benefits will be paid:
Guaranteed Death Benefit, plus
Accrued Paid-Up Additions (if any), plus
Terminal Bonus (if any)
4. 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 consultation. Tax benefits are subject to change in tax laws.
5. Riders :
Max Life Term Plus Rider
Max Life Accidental Death & Dismemberment Rider
Max Life Waiver Of Premium Plus Rider
(For further details, please refer to respective rider prospectus)
6. Growing Life Cover through Annual Bonuses :
Bonuses (if any) will be declared every year from the end of 2nd policy year (24th policy month) on the Guaranteed Maturity Sum Assured and from the end of 3rd policy year (36th policy month) on accrued Paid-up additions (if any) thereafter every year end
The Policyholder can take bonuses through any of the three options :
Purchase Paid Up Additions (PUA) – Bonus declared by the Company will be used to purchase
Paid Up Additions
Paid In Cash - Bonus declared by the Company is paid out to the Policyholder as and when declared.
Premium Offset - Bonus declared by the Company will be used to offset future premiums
7. Flexible Premium Payment Options :
Payment Term: 7 years, 10 years, 15 years or 20 years
Payment Mode: Annual, Semi-Annual, Quarterly and Monthly.
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 point to 3
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
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.
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