Mr. Sharma is 45 year old salaried employee. He has a 5 year old daughter Sameera. Mr. Sharma is planning to save for Sameera's marriage and buys Max Life Life Gain Premier for this purpose.
How does Life Gain Premier work for Mr. Sharma
- Step 1: Mr. Sharma chooses the 10-pay 20-year variant of Max Life Life Gain Premier with his daughter Sameera's marriage as his goal.
- Step 2: He chooses to save Rs. 50,000 every year, for a Guaranteed Maturity Sum Assured of Rs. 5,84,317
- Step 3: He chooses the PUA bonus option.
Mr. Sharma pays all due policy premiums and survives till the end of the policy term.
Mr. Sharma gets the following on maturity of the policy:
Guaranteed Maturity Benefit: Rs. 5, 84,317
Assuming 4% return: Rs. 68,907
Assuming 8% Return: Rs. 4,46,191
Assuming 4% return: Rs. 16,331
Assuming 8% Return: Rs. 25,763
Total Maturity corpus:
Assuming 4% return: Rs. 6,69,555
Assuming 8% Return: Rs. 10,56,271
Mr. Sharma passes away in the 5th year after payment of five annualised premiums.
Mr. Sharma's family gets the following benefits:
Guaranteed Death Benefit: Rs. 5,84,317
Assuming 4% return: Rs. 13,859
Assuming 8% Return: Rs. 74,252
Total Death Benefit:
Assuming 4% return: Rs. 5,98,176
Assuming 8% Return: Rs. 6,58,569
- 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 4% and 8% investment returns.
- Bonuses are non-guaranteed and are declared at the sole discretion of the Company.