Features & Benefits of Max Life Future Genius Education Plan

Max Life Future Genius Education Plan (UIN: 104N094V03; A Non-Linked Participating Individual Life Insurance Savings Plan) is meant for all such parents who want their kids to fly high in their career sky without facing any financial obstacle. It is a child insurance plan that caters to various aspects of child education planning, thus helping parents provide a growing environment for their kids.

Amidst the rising education costs in India^[1] and abroad, you can plan for the future years in your child's life through disciplined savings under Max Life Future Genius Education Plan. You will also get the flexibility to select for how long the plan continues, the premium payment years, and the timing when you should receive payouts as per your child's current age and higher education plans.

For your child's future, you might have started to put aside some money. To avail the benefits, you just need to shift your money-savings schedule and buy Max Life Future Genius Education Plan online.

In case of your unfortunate demise during the policy tenure, the beneficiary chosen under Max Life Future Genius Education Plan is entitled to receive death benefit which is calculated based on the annualized premium, total premiums paid till the date of death of the insured, or any assured absolute amount.

Another advantage you get when you buy Max Life Future Genius Education Plan is that it does not terminate after your untimely demise. Various benefits of Max Life Future Genius Education Plan are payable to the beneficiary you choose as and when due. Furthermore, the nominee can choose to receive the proceeds under the Future Genius Education Plan as a lumpsum benefit or monthly income.

Max Life Future Genius Education Plan also provides maturity benefits in the form of Accrued Paid Up Additions (PUA), or terminal bonus. In case of your death, a terminal bonus will be payable to the beneficiary on maturity.

Under Max Life Future Genius Education Plan, you can also choose to take the accrued PUA's surrender value, either partially or in full. The minimum amount to be withdrawn is set to Rs. 5,000 while the maximum amount is subject to PUA cash value. Once you have opted for this facility, the remaining PUA continues to participate in the bonuses.

Another option you get with Max Life Future Genius Education Plan is for money back. In the last four years of the Future Genius Education Plan, you get four moneybacks, each equals 25% of the Sum Assured.

Max Life Future Genius Education Plan can help you eliminate financial worries about a child's education. The beneficiary will receive insurance payouts in case of your unexpected demise so that the education plan does not get affected. Also, the policy will continue to be in force with waived future premiums in your absence.

You can select the policy term between 13 to 21 years when you buy Max Life Future Genius Education Plan online. This can be based on your child's current age and the corresponding plan for higher education in India or abroad.

You get three bonus options with Max Life Future Genius Education Plan – cash, premium offset, and paid up additions. You can make a choice based on your current or future needs.

What attracts many parents to Max Life Future Genius Education Plan is its guaranteed moneybacks feature. As per the plan terms, you will get four moneybacks in the last four years of the plan in the annual mode.

With Future Genius Education Plan, you can ensure that your kids can get the best quality education and achieve all their dreams, even in your absence.

The payouts that you or the beneficiary will receive under Max Life Future Genius Education Plan help cope with the emergencies in life.

If you have dreamt of a specific wedding plan for your kids, you can save money for the same with Max Life Future Genius Education Plan.

1. Kindly note that the above case study is only an example and does 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 89 investment returns with no PUA withdrawals during the Policy Term. These illustrated rates of investment returns 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.

2. Bonuses are non - guaranteed and are declared at the sole discretion of the Company

3. For more information, please request for your policy specific benefit illustration.

4. Total Payout = Death Benefit + Survival Benefit + Accrued Paid Up Additions and Terminal Bonus

*Please note, on completion of Policy Term one time Terminal bonus (if any) and accrued Pald Up Additions (if any) shall be payable as Maturity Benefit.

You can get a premium estimate using Max Life Future Genius Education Plan calculator online.

In case of Mr. Shergill's unfortunate demise before paying all the due premiums, the beneficiary/family member will receive a lumpsum death benefit. This benefit can also be converted into monthly incomes for 135 months while the future premiums are waived off.

Since the benefits payable under Max Life Future Genius Education Plan depends on its inclusion terms, you must read the plan document thoroughly.

• You can include additional riders with your Max Life Future Genius Education Plan, which will increase the total premium payable.
• The maximum sum assured under Max Life Future Genius Education Plan is subject to the underwriting policy approved by the Board.