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Max Life Shiksha Plus Super

Max Life Shiksha Plus Super

Max Life Shiksha Plus Super

With Max Life Shiksha Plus Super Plan, provide for your child’s dreams and financial support whenever need


1. Why This Plan?

  • Funds to meet your child's education costs & future expenses

  • Financial security for your child in case of any emergencies

  • Insurance with flexibility to invest in equity market with multiple fund options

  • Safeguard your investments against market volatilities with Systematic Fund Transfer and Dynamic Fund Allocation mechanism

  • Guaranteed loyalty additions

  • Flexibility to make Partial Withdrawals to meet unplanned expenses

2. Sum Assured and Eligibility

  • Sum Assured: Minimum

  • 5 Pay variant (Rs. 5,00,000)

  • Regular Pay variant (Rs. 2,50,000 for annual mode, Rs.4,80,000 for non-annual mode)

  • Entry Age : Min. 21 years, Max. 50 years

  • Policy Term: 10 years (5 Pay Variant); 15 to 25 years (Regular Pay Variant)

  • Maturity Age: 60 years (5 Pay Variant); 65 years (Regular Pay Variant)

  • The Policyholder (who shall also be the Life Insured) should have a child (own or legally adopted) aged between 0 days to 18 years to propose for the plan.

3. Death Benefit :

  • Lumpsum Payout on death - Higher of [Sum Assured or 105% of all premiums paid or (0.5 times Policy Term times Annualised Premium)] shall be payable immediately on death.

  • Family Income Benefit (FIB) - A Family Income Benefit equal to 10% of the Sum Assured will be paid on each Policy anniversary following or coinciding with the date of death of the Life Insured till the end of the Policy Term, but not exceeding 10 such installments

  • Funding of Premium (FOP) – On death of the insured, Max Life Insurance Company will fund all future outstanding premiums as and when due under the Policy and the Fund Value will be paid on maturity

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: 5 years (5 Pay variant) / 15 to 25 years (Regular Pay variant)

  • Payment Mode: 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. 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

Download Links:

Premium Table :

Max Life Shiksha Plus Super Premium Rates PDF

Commission Disclosure :

Commission Disclosure PDF

Leaflet :

Shiksha Plus Super Leaflet PDF

Prospectus :

Max Life Shiksha Plus Super Prospectus PDF

How Does It Work? - Link to Point 2

Scenario 1:

Mr. X aged 35 years purchased Max Life Shiksha Plus Super with the details as below: Premium Payment Term = 5 years; Policy Term = 10 years; Annualised Premium= ` 1,00,000; Fund chosen: Balanced Fund





Scenario 2:

Mr. “X” aged 35 years purchased Max Life Shiksha Plus Super with the details as below: Premium Payment Term = 20 years; Policy Term = 20 years; Annualised Premium= ` 1,00,000; Fund chosen: Balanced Fund





*Please note that the above assumed rates of return at 4% and 8% p.a. respectively, for Balanced Fund, are only scenarios at these rates. The Fund Value corresponds to the gross rate of return after deducting 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 Securities

Corporate Bonds

Money Market & Cash Instruments

Equity & Equity related securities

Risk Rating

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

An open ended equity multicap fund with focus on midcaps





Very High

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

An open ended equity fund with focus on large caps






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

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






Balanced Fund
(SFIN: ULIF00225/06/04LIFEBALANC104)

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






Conservative Fund

An open ended hybrid fund investing predominantly in debt instruments






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

An open ended debt fund which invests across duration






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

An open ended debt fund which invests across duration






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  • Commission Disclosures
  • Product Leaflet

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