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Max Life Platinum Wealth Plan

Max Life Platinum Wealth Plan

With Max Life Platinum Wealth Plan, accumulate and grow your savings through market-linked returns and additional wealth boosters which will help you achieve your long-term goals easily and protect your family’s future

1 . Why This Plan?

  • Achieve long-term goals while securing your family’s future through a single plan

  • Enjoy guaranteed loyalty additions and wealth boosters as additional benefits

  • Get comprehensive life insurance coverage – Coverage of 10 times the annualised premium (for Limited and Regular Pay options) of base policy and get additional life cover, equal to sum of all future premiums payable under the policy till the age of 60 years, with Partner Care Rider.

  • Enjoy market-linked returns by investing in any of the six fund options

2. Sum Assured and Eligibility

  • Sum Assured: Minimum

  • Single Pay (Rs.2,50,000)

  • Limited Pay and Regular Pay (Rs. 20,00,000)

  • Entry Age : Min. 18 years, Max. 60 years (Single Pay and Limited Pay), 55 years (Regular Pay)

  • Policy Term: 10 years (Single Pay); 10 - 20 years (Regular Pay and Limited Pay)

  • Maturity Age: 70 years (Single Pay and Limited Pay), 65 years (Regular Pay)

3. Death Benefit:

The Death Benefit is defined as higher of following:

Single Pay Variant:

  • Sum Assured equal to 1.25 times the Single premium (reduced by applicable partial withdrawals, if any), or

  • 105% of cumulative premiums paid till the date of death, or

  • Total Fund Value (as on the date of death)

For Limited Pay/ Regular Pay Variant:

  • Sum Assured equal to higher of 10 times the annualised premium or 0.5 times the product of Policy Term and annualised premium (reduced by applicable partial withdrawals, if any), or

  • 105% of cumulative premiums paid till the date of death, or

  • Total Fund Value (as on the date of death)

4. Maturity / Survival Benefit:

  • On maturity, you will be eligible to receive an amount equal to the Fund Value (provided settlement option has not been exercised).

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. Tax benefits are subject to change in tax laws. It is advisable to seek an independent tax advice.

6. Flexible Premium Payment Options:

  • Premium Payment Term: Single Pay, 5 years (5 Pay) and 20 years (Regular Pay)

  • Payment Mode: Single Pay, Annual, Semi-Annual, Quarterly and Monthly.

7. Choose Your Investment Strategy:

  • You may choose to invest in six funds available in this plan.

  • Option to choose for either Systematic Transfer Plan or Dynamic Fund Allocation strategy

8. Riders:

Max Life Partner Care Rider - Sum of all future premiums payable under the base policy or till Life Insured attains an age of 60 years (whichever is earlier), will be paid immediately on Life Insured¿s death and the rider will terminate.

  • This rider is only available with Limited Pay and Regular Pay variants of the product.

  • You can opt for this rider at any time during the Policy Term (subject to underwriting and rider restrictions)

  • The specifications on this rider are as follows:

  • Minimum Entry Age: 21 years

  • Maximum Entry Age: 55 years

  • Rider Expiry Age: 60 years

  • Minimum Rider Term: 5 years

8. Guaranteed Wealth Boosters:

Apart from the Guaranteed Loyalty Additions the company will also pay Guaranteed Wealth Boosters to You, which is additional percentage of Fund Value to be added to the Fund by creation of additional units, at the end of every 5 years starting from 10th policy year.

  • Band 1: Annualised premium is Less than 5 Lakhs (Guaranteed Wealth Booster: 2% of Fund Value to be paid at the end of Year 10, 15 and 20 years)

  • Band 2: Annualised premium is 5 Lakhs or more (Guaranteed Wealth Booster: 2.5% of Fund Value to be paid at the end of Year 10, 15 and 20 years.

10. 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.

Calculate Premium Or Talk To Us

Premium Table :

Max Life Platinum Wealth Plan Premium Rates PDF

Commission Disclosure :

Commission Disclosure PDF

Leaflet :


Max Platinum Wealth Plan Leaflet PDF

Prospectus :

Max Platinum Wealth Plan Prospectus PDF

 

How Does It Work? - Link to Point 2 & 3

Scenario 1:

 

Mr. X aged 35 years purchased Max Life Platinum Wealth Plan with the details as below:

Premium Payment Term = 5 years; Policy Term = 10 years; Mode of Payment = Annual

Annualised premium = Rs.2,00,000; Fund chosen: Growth Super Fund

Death Benefit = Higher of (Sum Assured or 105% of all premiums paid or Fund Value) where, Sum Assured = Higher of (10 times annualised premium or (0.5 X Policy Term X annualised premium))

Fund Value will be calculated as per the prevailing NAV as on the date of death

 

1447424156608

 

Scenario 2:

Mr. X aged 35 years purchased Max Life Platinum Wealth Plan with the details as below:

Premium Payment Term = 5 years; Policy Term = 10 years; Mode of Payment = Annual

Annualised premium = Rs.5,00,000; Fund chosen: Growth Super Fund; Partner Care Rider = Selected

 

1447424156571

*Please note that the above assumed rates of return @ 4% and 8% p.a. respectively, for Growth Super Fund, are only scenarios at these rates after recovering all applicable charges. These are not guaranteed and they are not the upper or lower limits of returns of the Funds selected in your policy, as the performance of the Funds is dependent on a number of factors including future investment performance. For more information, please request for your policy specific benefit illustration.

 

Link to point 7:

Fund Name

Nature of Fund

Government

Corporate

Money Market

Equity & Equity

Risk Rating

Securities

Bonds

& Cash Instruments

related securities

High Growth Fund
(SFIN: ULIF01311/02/08LIFEHIGHGR104)

An open ended equity multicap fund with focus on midcaps

0%-30%

0%-30%

0%-30%

70%-100%

Very High

Growth Super Fund
(SFIN: ULIF01108/02/07LIFEGRWSUP104)

An open ended equity fund with focus on large caps

0%-20%

0%-20%

0%-30%

70%-100%

High

Growth Fund
(SFIN: ULIF00125/06/04LIFEGROWTH104)

An open ended hybrid fund with equity portion focused on large caps

0%-30%

0%-30%

0%-40%

20%-70%

High

Balanced Fund

(SFIN: ULIF00225/06/04LIFEBALANC104)

An open ended hybrid fund investing in a mixture of debt instruments and equities

20%-50%

20%-40%

0%-40%

10%-40%

Medium

Conservative Fund
(SFIN: ULIF00325/06/04LIFECONSER104)

An open ended hybrid fund investing predominantly in debt instruments

50-80%

0-50%

0-40%

0%-15%

Low

Secure Fund (SFIN: ULIF00425/06/04LIFESECURE104)

An open ended debt fund which invests across duration

50-100%

0-50%

0-40%

Nil

Low

Secure Plus Fund (SFIN: ULIF01628/04/09LIFESECPLS104)
(Available with Systematic Transfer Plan only)

An open ended debt fund which invests across duration

60-100%

0-40%

0-40%

Nil

Low

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