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Max Life Platinum Wealth Plan

We may want to lead a lavish lifestyle, travel across the world, let our child study abroad or have a relaxed retirement. But, what’s the ideal way to realise these dreams?

Presenting Max Life Platinum Wealth Plan is an ideal for accumulating and growing your savings so that you achieve your long-term goals easily. Now, maximise your hard-earned money through market-linked returns and additional wealth boosters while protecting your family’s future, even when you are no longer around.

 

3 Reasons to Buy Max Life Platinum Wealth Plan

  • Secure your family’s future with comprehensive maturity and death benefits
  • Enjoy guaranteed loyalty additions at the end of the policy year and wealth boosters
  • Flexibility to choose premium payment term and policy term as per your convenience

What do You get with Max Life Platinum Wealth Plan?

What do You get with Max Life Platinum Wealth Plan?

All You Need to Know about Max Life Platinum Wealth Plan

All You Need to Know about Max Life Platinum Wealth Plan

Insert Image Maturity Benefit

Amount payable at the end of the policy term.

You will receive the total value of funds (called Fund Value) on the date of maturity as a part of this plan provided the settlement option has not been exercised.

Where Fund Value can be calculated as

Fund Value = Summation of [Accumulated Units in Fund(s) x NAV of respective Fund(s) as on the Maturity Date]

Note: In case the Maturity Date is a non-working day for the Company or markets then next working day’s NAV will be applicable.

 

Insert Image Death Benefit

Amount payable on the death of the policyholder

In the event of the death of the person insured, the nominee will receive the highest of the following sums:

For 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 the 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)

Insert Image Guaranteed Loyalty Additions

Additional bonus added to your unit account at the end of the policy year

You will receive an additional percentage of fund value by addition of equivalent units to your unit account, at the end of the policy year.

Insert Image Guaranteed Wealth Booster

In addition to the Guaranteed Loyalty Additions the company will also pay Guaranteed Wealth Boosters


An additional percentage of Fund Value will be added to the Fund, by creating additional units at the end of every 5th year starting from the 10th policy year.

Let’s consider the case of Mr Sharma at different ages with different combinations of payment terms and policy terms. Mr Sharma chooses to invest in the balanced fund by paying premiums annually. Let’s see how total maturity benefit differs:

Scenario

Example 1

Example 2

Example 3

Age of Life Insured

35 years

40 years

45 years

Premium Payment Term/Policy Term

20 Pay / 20 years

10 Pay / 10 years

5 Pay / 10 years

Annualised Premium

Rs. 2,00,000

Rs. 5,00,000

Rs. 7,50,000

Sum Assured

Rs. 20,00,000

Rs. 50,00,000

Rs. 75,00,000

Total Maturity Benefit (@4%)*

Rs. 55,78,989

Rs. 56,83,390 

Rs. 43,47,726 

Total Maturity Benefit (@8%)*

Rs. 87,58,252

Rs. 70,92,864

Rs. 59,69,426

*Please note that the above assumed rates of return, 4% and 8% 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 Fund Option selected in your policy, as the performance of the Funds is dependent on a number of factors including future investment performance. All applicable taxes, cesses and levies as imposed by the Government to time will be deducted from the premium received

*Annualised Premium includes extra premium (if any) but excludes all applicable taxes, cesses and levies as imposed by the Government as well as any loadings for modal premiums and remains same irrespective of the premium payment mode

Premium Payment Term

Minimum Age at Entry

(Age as on Last Birthday)

Maximum Age at Entry

(Age as on Last Birthday)

Maximum Maturity Age

(Age as on Last Birthday)

Single Pay/Limited Pay (5 Years)

91 days

60 years

70 years

Regular Pay

91 days

55 years

65 years

You can choose the Premium Payment Term as per your convenience, i.e., Single Pay or Limited Pay or Regular Pay. The policy will remain in force for 10 years or 20 years depending on the option you choose. Further, within the premium payment term, you can choose to pay on an annual, semi-annual, quarterly, and monthly basis.

Premium Payment Term/Policy Term

Premium Payment Term

Policy Term (years)

Single Pay

10

Limited Pay (5 Years)

10 to 20

Regular Pay

10 to 20

Annualised Premium
(total premium payable in a year excluding taxes and cesses)

Minimum: Rs. 2,00,000 for all variants

Maximum: No limit


Premium Payment Mode

Single Pay: One time Premium Payment

Limited Pay: 5 Years
Regular Pay: Annual, Semi-Annual, Quarterly & Monthly

Sum Assured under different payment modes

Single Pay: 1.25 times Single premium

Limited Pay (5 Years) / Regular Pay:
Higher of (10 times Annualised Premium or 0.5 x Policy Term x Annualised Premium)

 

Key Charges

Premium Allocation Charge: The charges levied by a company while issuing the policy.

This charge is levied as a percentage of each premium paid to the company. The rate of premium allocation charge for different variants is as follows:

 

Policy year

Premium Allocation charge as a % of each premium paid

Single Pay variant

Limited Pay variant

Regular Pay variant

Annual Mode

Non Annual Mode

Annual Mode

Non Annual Mode

1

3%

2%

2%

2%

2%

2

NA

2%

2%

2%

2%

3 to 10

NA

2%

2%

2%

2%

11 & thereafter

NA

Nil

Nil

Nil

Nil

For an annualized premium of less than Rs. 2 Lacs, an additional allocation charge of 1% shall be charged for the first five policy years.

Fund Management Charge: The charge levied as a percentage of the value of assets and shall be appropriated, usually daily, by adjusting the Net Asset Value of the Fund.

The rate to be levied equals to the annual rate, as given above, divided by 365 and multiplied by the number of days that have elapsed since the previous unit valuation date. The charges below are guaranteed and unchangeable during the policy lifetime. The annual rate of Fund Management Charge is as below:

 

 

Name of Fund

Charge (per annum) as % of Fund Value

Risk Rating

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

1.25%

Very High

NIFTY Smallcap Quality Index Fund

(SFIN: ULIF02702/08/23NIFTYSMALL104)

1.00%

Very High

Midcap Momentum Index Fund

(SFIN: ULIF02801/01/24MIDMOMENTM104)

1.25%

Very High

Diversified Equity Fund

(SFIN: ULIF02201/01/20LIFEDIVEQF104)

1.25%

 High

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

1.25%

High

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

1.25%

High

Sustainable Equity Fund

(SFIN: ULIF02505/10/21SUSTAINEQU104)

1.25%

High

Pure Growth Fund

(SFIN: ULIF02630/12/22PUREGROWTH104)

1.25%

High

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

1.10%

Medium

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

0.90%

Low

Dynamic Bond Fund

(SFIN: ULIF02401/01/20LIFEDYNBOF104)

0.90%

Low

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

0.90%

Low

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

0.90%

Low

Money Market II Fund

(SFIN: ULIF02301/01/20LIFEMONMK2104)

0.90%

Low

Discontinuance Policy Fund
(SFIN : ULIF002021/06/13/LIFEDISCON104)
Available only on surrender or discontinuance of policy in first five policy years

0.50%

Low

Policy Administration Charge: A charge levied by the company to maintain your policy and is expressed as a percentage of premiums paid for all variants. This is a fixed charge for all the variants, levied at each monthly anniversary by cancelling proportionate units starting from the date of commencement of the policy.

 

Premium Payment Term

Year 1 to 5

Year 6 onwards

Single Pay

Rs. 330 per month

Nil

Limited Pay (5 Years) or Regular Pay
(For all premium payment modes)

3.3% of annualised premium subject to a maximum of Rs.6,000 per annum

Nil

Mortality Charge: A charge levied for providing risk cover (also called death benefit) to the Life Insured during the Policy Term. This charge can be calculated as follows:

Mortality Charge = Attained age x (sum at risk/1000) x (1/12) where attained age is your age on the date of calculation in years

Sum at risk = Maximum [Maximum (Sum Assured, 105% of Total Premiums Paid) - Fund Value, 0]

These charges are lower if you start early. Every month, the appropriate number of units are cancelled from the Unit Account starting from the date of commencement of the policy. Please note that for the purpose of the above definition, Sum Assured reduced by partial withdrawals, if any, shall be considered.

Below are the mortality charges payable at different ages:

 

Sample Ages (Years)

Mortality charge

(per Rs. 1,000 Sum at Risk)

0(91 days)

3.56

10

0.35

25

0.79

30

0.84

35

1.03

40

1.44

45

2.30

50

3.96

 

Surrender/Discontinuance Charge: A charge levied on the fund value at the time of discontinuance of the policy or on effective complete withdrawal (surrender) whichever is earlier.

Below are the surrender charges payable for different premium payment terms (where the annualised premium is the total premium payable in a year excluding taxes and cesses):

 

For Limited Pay (5 Years) and Regular Pay

Policy Year

Surrender Charges

1

Lower of 6% of Annualised Premium or 6% of Fund Value or Rs. 6,000

2

Lower of 4% of Annualised Premium or 4% of Fund Value or Rs. 5,000

3

Lower of 3% of Annualised Premium or 3% of Fund Value or Rs. 4,000

4

Lower of 2% of Annualised Premium or 2% of Fund Value or Rs. 2,000

5 & above

Nil

 

For Single Pay

Policy Year

Maximum Discontinuance Charges for the policies having Single Premium above Rs. 3,00,000/-

1

Lower of 1% *(SP or FV) subject to a maximum of Rs. 6,000/-

2

Lower of 0.70% *(SP or FV) subject to a maximum of Rs. 5,000/-

3

Lower of 0.50% *(SP or FV) subject to a maximum of Rs. 4,000/-

4

Lower of 0.35% *(SP or FV) subject to a maximum of Rs. 2,000/-

5 & above

Nil

Switching Charges: A charge levied to switch between different funds

Max Life Platinum Wealth Plan provides an unlimited number of switches without any extra charges.

Premium Redirection Charge:  A charge levied to redirect your future premiums between available funds 

You may redirect your future Premiums between available funds at any time by giving us written notice before the premium due date. A maximum of six premium redirections are allowed in each policy year without any additional charges


Partial Withdrawal Charge: A charge levied to make partial withdrawals even before the end of the policy term

After the first five policy years, a maximum of two partial withdrawals are allowed in a policy year without any additional charges.

Rider Charge: A charge levied in case you have chosen an additional rider

If you have opted for Max Life Partner Care rider (find more info in the Riders section), a rider charge will be levied on the sum of future premiums payable till the end of the premium payment term or you attaining the age of 60 years, whichever is earlier. This is deducted every month by cancelling equivalent units from your unit account.  

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Fund Options and Their Performances

Below are different funds available for investment

Fund Options and Their Performances

Below are different funds available for investment
High Growth Fund
(SFIN: ULIF01311/02/08LIFEHIGHGR104)

Investment Group: Equity

Fund Returns
27.16%
Benchmark* Returns
23.62%
*(Nifty MidCap Free Float 100%)
Nature of Fund
An open-ended equity multicap fund with a focus on midcaps
Investment Strategy
The fund is a multi-cap fund with a focus on mid cap equities, where predominant investments are equities of companies with high growth potential in the long term (to target high growth in capital value assets). At least 70% of the Fund corpus is invested in equities at all times. However, the remaining is invested in government securities, corporate bonds and money market instruments; hence, the risk involved is relatively higher.
Secure Plus Fund
(SFIN: ULIF01628/04/09LIFESECPLS104

Investment Group: Debt

Fund Returns
7.28%
Benchmark* Returns
7.53%
*(CRISIL Bond Index 100%)
Nature of Fund
An open-ended debt fund that invests across duration with bias towards government securities
Investment Strategy
(This Fund is available only under Systematic Transfer Plan (STP), Lifecycle Based Portfolio and Trigger Based Portfolio strategy). The investment objective of the Fund is to provide higher security of investment by way of higher proportion of investment in sovereign papers that carry an implicit guarantee for repayment of principal and interest from the Government of India. This Fund invests in debt instruments such as Government Securities, Corporate Bonds, and Money Market Instruments. issued primarily by Government of India/State Governments, Corporate and banks. The Fund also invests in money market instruments as prescribed by IRDAI. No investment is made in equities.
Growth Super Fund
(SFIN: ULIF01108/02/07LIFEGRWSUP104)

Investment Group: Equity

Fund Returns
15.94%
Benchmark* Returns
15.27%
*(NSE Nifty 100%)
Nature of Fund
An open ended equity fund with focus on large caps
Investment Strategy
This is primarily an equity oriented fund. At least 70% of the Fund corpus is invested in equities at all times. The remaining is invested in debt instruments across Government, corporate and money market papers.
Growth Fund
(SFIN: ULIF00125/06/04LIFEGROWTH104)

Investment Group: Equity

Fund Returns
11.46%
Benchmark* Returns
11.83%
*(Crisil Bond Index 50% and NSE Nifty 50%)
Nature of Fund
An open ended hybrid fund with equity portion
focused on large caps
Investment Strategy
This fund invests in various asset classes such as Equities, Government Securities, Corporate Bonds and Money Market Instruments. The equities exposure in the Fund will at all times be at a minimum of 20% but not more than 70%. The Fund invests the remaining Fund corpus in debt instruments across Government, corporate and money market papers.
Balanced Fund
(SFIN:  ULIF00225/06/04LIFEBALANC104)

Investment Group: Balanced

Fund Returns
9.99%
Benchmark* Returns
10.21%
*(Crisil Bond Index 70% and NSE Nifty 30%)
Nature of Fund
An open-ended hybrid fund investing in a mixture of debt instruments and equities
Investment Strategy
This fund invests primarily in debt instruments such as Government Securities, Corporate Bonds, and Money Market Instruments. issued primarily by Government of India/State Governments and to some extent in Corporate Bonds and Money Market Instruments. The Fund invests minimum of 10% and up to maximum of 40% of Fund corpus in equities.
Conservative Fund
(SFIN: ULIF00325/06/04LIFECONSER104)

Investment Group: Debt

Fund Returns
7.72%
Benchmark* Returns
8.45%
*(Crisil Bond Index 90% and NSE Nifty 10%)
Nature of Fund
An open-ended hybrid fund investing predominantly in debt instruments
Investment Strategy
Conservative Fund invests primarily in debt instruments such as Government Securities, Corporate Bonds, and Money Market Instruments. issued primarily by Government of India/State Governments and to some extent in Corporate Bonds and Money Market Instruments. The Fund invests up to 15% of Fund corpus in equities
Secure Fund
(SFIN: ULIF00425/06/04LIFESECURE104)

Investment Group: Debt

Fund Returns
6.77%
Benchmark* Returns
7.53%
*(CRISIL Bond Index 100%)
Nature of Fund
An open-ended debt fund that invests across duration
Investment Strategy
This fund invests in debt instruments such as Government Securities, Corporate Bonds, Money Market Instruments etc. issued primarily by Government of India/State Governments, Corporate and banks. The Fund also invests in money market instruments as prescribed by IRDAI. No investment is made in equities.
Diversified Equity Fund
(SFIN: ULIF02201/01/20LIFEDIVEQF104)

Investment Group: Equity

New Fund

Nature of Fund
An open ended equity multi cap fund with focus on large and mid caps
Investment Strategy
The investment objective of the fund is to invest at least 70% of the fund corpus in a diversified basket of equity stocks over the entire market capitalisation range, primarily focusing on large and mid-cap companies covering a wide variety of sectors to provide investors with long term growth opportunities while ensuring liquidity of investments.
Money Market Fund II
(SFIN:ULIF02301/01/20LIFEMONMK2104)

Investment Group: Debt

New Fund

Nature of Fund
An open ended liquid fund which invests only in money market instruments
Investment Strategy
The investment objective of the fund is to deliver returns linked to Money Market levels through a portfolio with minimal interest rate and credit risk so as to provide a high level of safety of capital.
Dynamic Bond Fund
(SFIN: ULIF02401/01/20LIFEDYNBOF104)

Investment Group: Debt

New Fund

Nature of Fund
An open ended debt fund which invests across duration with bias towards corporate bonds
Investment Strategy
The investment objective of the fund is to generate superior returns by investing in high quality debt instruments including Government securities, corporate bonds and money market instruments with an objective to maximize returns keeping in mind safety and liquidity of the portfolio.
Sustainable Equity Fund
(SFIN:ULIF02505/10/21SUSTAINEQU104)

Investment Group: Equity

New Fund

Nature of Fund
An open ended equity fund investing in companies that are in compliance on ESG principles
Investment Strategy
The objective of the fund is to focus on investing in select companies from the investment universe, which conduct business in socially and environmentally responsible manner while maintaining governance standards.
Pure Growth Fund 
(SFIN: ULIF02630/12/22PUREGROWTH104)

Investment Group: Equity

New Fund

Nature of Fund
The investments in this fund will specifically exclude companies dealing in Banking, Alcohol, Tobacco products etc.*
Investment Strategy
The objective of the fund is to provide medium to long term return to the investors by actively managing portfolio through investment in equities, cash and money market instruments. Fund will not invest in companies that derive significant share of income from sectors such as Alcoholic beverages, Tobacco and tobacco products, certain animal produce, Gambling, Banking & Financial Services and Entertainment (cinema, TV etc.).*For Details please refer to the Sales Literature
NIFTY Smallcap Quality Index Fund
SFIN: ULIF02702/08/23NIFTYSMALL104

Investment Group: Equity

New Fund

Nature of Fund
To invest in a basket of stocks drawn from the constituents of NSE Smallcap 250 Quality 50 index. 
Investment Strategy
The objective of the fund is to invest in a basket of stocks drawn from the constituents of NSE Smallcap 250 Quality 50 index. The fund will invest in the companies of the above index with similar weights as the index and generate returns as closely as possible, subject to tracking error.
Midcap Momentum Index Fund
SFIN: ULIF02801/01/24MIDMOMENTM104

Investment Group: Equity

New Fund

Nature of Fund
The objective of the fund is to invest in a basket of stocks drawn from the constituents of NSE Midcap 150 Momentum 50 index. 
Investment Strategy
The objective of the fund is to invest in a basket of stocks drawn from the constituents of NSE Midcap 150 Momentum 50 index. The fund will invest in the companies with similar weights as in the index and generate returns as closely as possible, subject to tracking error.

Note: Returns are 5-year Compounded Annualised Growth Rate (CAGR). Past performance is not indicative of future performance. The Star rating is the Overall Rating. Rating and returns are as on 29th February 2024

The above mentioned Fund returns are after deduction of Fund Management Charges (FMC).

 

In unit-linked insurance policies, investment risk in the investment portfolio is borne by the policyholder. Past performance is not necessarily indicative of future performance. The linked insurance products do not offer any liquidity during the first five years of the contract; the policyholder will not be able to surrender/ withdraw the monies invested in linked insurance products completely or partially till the end of the fifth year. Returns are 5 years Compounded Annualised Growth Rate (CAGR). Rating and returns are as on 29th February 2024

© 2020 Morningstar. All Rights Reserved. The information, data, analyses and opinions (“Information”) contained herein: (1) include the proprietary information of Morningstar and its content providers; (2) may not be copied or redistributed except as specifically authorised; (3) do not constitute investment advice; (4) are provided solely for informational purposes; (5) are not warranted to be complete, accurate or timely; and (6) may be drawn from the fund data published on various dates. Morningstar is not responsible for any trading decisions, damages or other losses related to the Information or its use. Please verify all of the Information before using it and don’t make any investment decision except upon the advice of a professional financial adviser. Past performance is no guarantee of future results. The value and income derived from investments may go down as well as up.

The ‘Morningstar Overall Rating’ is a quantitative assessment of a fund’s past performance—both return and risk—as measured from one to five stars, with one (1) being the lowest and five (5) being the best as on 29th February 2024.

You can use any of these two investment strategies:

Systematic Transfer Plan

A Systematic Transfer Plan helps replicate a rupee cost averaging method on your Annualised Premium. This option is available only for single premium policies or policies single/annual premium received net of any premium allocation charges shall be allocated first to the Secure Plus Fund. Immediately thereafter and on each subsequent monthly anniversary, the fund value of [1/ (13 - month number in the Policy year)] of the Units available at the beginning of the month shall be switched to Growth Super Fund automatically by cancelling Units in the Secure Plus Fund, and purchasing Units in the Growth Super Fund till the availability of Units in Secure Plus Fund.

Dynamic Fund Allocation

An investment strategy that aims to balance risk and reward by apportioning a portfolio's assets according to an individual's goals, risk tolerance and investment horizon option is an investment strategy that in the early part of your Policy Term invests in equity-oriented funds and as your Policy Term progresses, it shifts the fund allocation towards more conservative funds. You can opt for Dynamic Fund Allocation option only at the inception of the policy. Under this option, assets under management shall be maintained among Growth Super Fund and Secure Fund in a pre-defined proportion that changes depending upon the years left to maturity as per the matrix below:

 

Number of Years to Maturity

Assets under management to be maintained under the Growth Super Fund

Assets under management be maintained under the Secure Fund

 

16 – 20

80%

20%

 

8 - 15

70%

30%

 

4 - 7

50%

50%

 

0 - 3

20%

80%

Additional Benefits through Riders

Additional Benefits through Riders

'Why are ULIPs one of the Best Tax-saving Instruments?'

Understand ULIPs better

Why Choose Max Life

Here are some of the numbers that speak about our accomplishments

Why Choose Max Life

Here are some of the numbers that speak about our accomplishments
Claims Paid Percentage

99.51%

99.51%

(Source: Individual Death Claim Paid Ratio as per Audited Financials for FY 2022-2023)

Max Life's Presence

269 Offices

269 Offices

(Source: As reported to IRDAI, FY 2022-23)

Sum Assured

₹1,397,142 Cr.

₹1,397,142 Cr.

In force (individual) (Source: Max Life Public Disclosure, FY 2022-23)

Assets Under Management

₹122,857 Cr.

₹122,857 Cr.

(Source: Max Life Public Disclosure, FY 2022-23)

More reasons why our customers choose us
What our customers have to say
What our customers have to say

Being a person with high aspirations, I wanted to buy a plan which will not only help me do systematic saving but also grow my money to fulfill my goals. This seems to be the perfect plan for me. Although I was unsure about putting my money into the market, in the beginning, thanks to Mr. Robin, my relationship manager who explained me the different strategy options. I get the flexibility to switch funds the unlimited number of times without any extra cost. Moreover, I get annual bonus as well in the form of wealth boosters. A simple plan to save and grow your money!

 

Mrs. Anita Shangvi, 32 years

Ranchi, 26 June 2017

Let’s Connect

Let’s Connect

Online Sales Helpline
0124 648 8900
 (09:00 AM to 09:00 PM Monday to Saturday)

service.helpdesk@maxlifeinsurance.com
SMS 'LIFE' to 5616188

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1860 120 5577
(9:00 AM to 6:00 PM Monday to Saturday)
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Please write to us in case of any escalation/feedback/queries.

Write to us
NRI Helpdesk
011-71025900; 011-61329950
(9:00 AM to 6:00 PM Monday to Saturday)

nri.helpdesk@maxlifeinsurance.com