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    TDS Challan – 280, 281 & 282

    TDS is the abbreviation for Tax Deducted at Source, managed by the Central Board of Indirect Taxes. TDS Challan is the key tax document required to deposit the TDS amount deducted with the Income Tax Department. Based on the type of TDS payment, you can use TDS Challan 280, TDS Challan 281 or 282 to pay your tax dues online and offline. Let’s check what is TDS challan, different types of TDS challan and how to check TDS challan status.

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    Max Life Smart Secure Plus Plan. A non-linked non-participating individual pure risk premium life insurance plan| The premium calculated as per Standard premium for 30 year old healthy male, non-smoker, 40 years policy term, 40 years premium payment term (exclusive of GST) for Max Life Smart Secure Plus Plan and is rounded off from Rs. 3,18,727 . ~1 Condition for special exit value: Option to receive all premiums paid back at the age of 55 years and post which the life cover also gets terminated. Total premiums paid towards the policy (excl. GST) will be the Special Exit Value payable at the age of 55 years in case the policy holder wishes to completely exit the policy. Benefit available with special exit value -Total premium paid inclusive of any extra premium but exclusive of all applicable taxes, cesses or levies & modal extra. the total premiums paid plus underwriting extra premiums paid plus loadings for modal premiums exclusive of all applicable taxes, cesses or levies. This value shall be applicable on the base cover premium only and not to additional optional benefits like ACI, Accident cover, Joint life cover and Voluntary Sum Assured Top-Up.

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    Abhishek Chakravarti

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    Abhishek is a financial writer with over 6 years of experience in the BFSI sector. Prior to his current stint with Max Life Insurance, he has worked with leading fintech startups. He specializes in writing about taxation and various investment products like ULIPs, retirement plans, guaranteed investment plans, mutual funds etc.

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    Sahil Rawal

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    Sahil Rawal is a digital & brand management specialist with over 10 years of experience in Financial Services Industry. Life insurance professional with expertise in digital marketing strategy, website content marketing and brand communication designed to increase brand awareness, drive engagement & sales.

    What is a TDS Challan?

    TDS Callan 1.jpg

    a)  TDS Challan is a form used for depositing Tax Deducted Source (TDS) and Tax Collected at Source (TCS) to the Government.

    b)  TDS Challan was introduced in 2004 to minimize human error and facilitate online transaction of tax deposit, collection, and tds refund.

    c)  Under Challan for TDS, an individual or payer responsible for making specified payments like salary, interest, rent, commission, and similar others is accountable to deduct a stipulated percentage of amount before paying it to its payee or employee.

    d)  Every individual, who makes TDS payment challan 281, is also accountable for depositing TDS challan amount to the Income Tax Department.

    Types of Challan for TDS

    The issued copy of Challan for TDS makes it easy for an individual taxpayer to track the status of their e-challan that is to be deposited in the banks. There are 3 different types of challan for TDS issued to a taxpayer.

    1. TDS Challan 280 – is specifically for depositing income tax.
    2. TDS 281 Challan – is specifically for Tax Deducted at Source (TDS) and Tax Collected at Source (TCS).
    3. TDS Challan 282 – is for depositing gift tax, wealth tax, transaction or security tax, and similar other forms of indirect tax.

    TDS Challan 281 Online Compliance

    TDS 281 Challan is issued when a taxpayer deposits TDS and TCS, for which they must comply with the timelines specified for depositing tax.

    Due date for depositing TDS 281 Challan:

    1. TDS Challan for payments excluding property purchase –7th of every subsequent month.
    2. TDS Challan for the purchase of property –30th of every subsequent month.
    3. TDS Payment Challan 281 issued in March – April 30.

    Interest of 1.5% is charged per month if TDS payment challan 281 is delayed.

    Types of Single Copy TDS Challan

    Three new single copy TDS challan was introduced in 2004 for easing the process are:

    1. Single copy TDS challan no. ITNS 280 – includes payment of income tax, wealth tax, corporation tax.
    2. Single copy TDS challan no. ITNS 281 –includes deposition of TDS from corporates and non-corporates.
    3. Single copy TDS challan no. ITNS 282 – includes payment for estate duty, expenditure tax, gift tax, similar other miscellaneous taxes.
    4. Single copy TDS Challan no. ITNS 283 – includes payments for Fringe Benefits tax and Banking Cash Transaction tax.
    5. Single copy TDS Challan no. ITNS 286 – includes payments under declaration of income.
    6. Single copy TDS Challan no. ITNS 287 – includes payments under (PMGKY) Pradhan Mantri Garib Kalyan Yojana.

    After depositing their TDS challan, every individual gets a duly stamped with Challan Identification Number (CIN) as an acknowledgement.

     Also Read: TDS Rates

    How to Download TDS Challan?

    1. Visit TIN NSDL website
    2. Visit TIN NSDL website
    3. Visit TIN NSDL website
    4. You will be redirected to the ‘Challan’ page. From here, you can download your required copy of TDS Challan.
    tds-challan 2.jpg

    How to Check Status of TDS Challan?

    1. Visit TIN NSDL website
    2. Go to ‘Services’ section and click on OTLAS.
    3. You will be redirected to OTLAS-Challan Status Inquiry Page. You will see two sections – for taxpayer and the bank.
    4. Since you are a taxpayer, you can select between two options – CIN based and TAN based – to check status of your TDS Challan.

    CIN Based TDS Challan Status Enquiry

    tds-challan 3.jpg

    When you open CIN based TDS Challan status enquiry page, you must enter details from the counterfoil returned upon payment towards Challan 281 online. CIN stamp contains details of BSR code for your collecting branch, challan 281 tender date, TDS challan serial number and the amount paid towards TDS challan.

    You can view the following details:

    1. BSR branch code
    2. Deposit date
    3. TDS Challan serial number
    4. Major head code with description
    5. PAN/TAN details
    6. Your name or name of the taxpayer
    7. Date of receipt by TIN
    8. Confirmation of amount entered

    After entering required details on CIN based TDS Challan status enquiry page, click on view and you will see all your reports.

    TAN Based TDS Challan Status Enquiry

    tds-challan 4 (2).jpg

    TDS Challan 281 Online Max Life Insurance When you open TAN based TDS Challan status enquiry page, you must fill the required details to know the details

    • Enter your TAN number in uppercase (e.g. MUMM11111A).
    • Enter TDS Challan date of deposit or period for which you want to know the status.
    • After filling all the details, you can view or download your TDS Challan status.

    Things to Know for downloading TDS Challan details:
    1. Upon selecting download option, a text file containing details will be available for provided TAN and its period.
    2. You can use this file to verify TDS challan mentioned in the quarterly e-TDS/TCS statements.
    3. If you want to verify TDS Challan details, import this file to FVU – File Validation Utility –along with quarterly statement file.
    4. Once the validation of quarterly e-TDS/TCS is successful, FVU will provide relative statistics for your TDS Challan mentioned in the statement.
    5. Period selection should not exceed 24 months.

    How to Calculate TDS on Salary?

    TDS Challan desktop.jpg
    1. Calculate your total earnings of a financial year including bonus, commission, and other perks.
    2. Collect proof of investment at the end of each year from your employer.
    3. Know your tax deductions for calculation of net taxable income. Your employer will calculate TDS as per the income slabs for your net taxable income.
    4. Deposit your TDS collection with the central government within the stipulated time to avoid penalties.
    Read More: TDS on Salary

    Example:

    Age – 40 years

    Total income – Rs.5lakh

    Net Taxable Income – Rs. 2.5 lakh (Tax exemption up to Rs. 2.5 lakh on total income)

    You must pay 5% of Rs. 2.5 lakh under TDS Challan

    Note –  TDS is deducted every month from your salary. Your expected TDS liability for a year is divided by 12, which is collected each month.

    How to Pay TDS Challan 281 Online?

    1. Visit TIN NSDL website
    2. Select your relevant single copy challan (most individuals use TDS 281 Challan).
    3. Enter your accurate details.
    4. In the confirmation window, your full name or the name of the taxpayer will be displayed as per ITD PAN/TAN master (after validation of PAN/TAN).
    5. After confirmation, you will be guided to net-banking site.
    6. Login with your user ID and password provided by the bank and enter payment details.
    7. After successful payment, TDS Challan counterfoil will appear with CIN and bank details.
    8. Download CIN counterfoil as proof of your successful payment.

    What are Pre-requisites for TDS Deduction?

    tds-challan 5.jpg
    1. Every individual having TDS Challan shall get TAN – Tax Deduction and Collection Account Number.
    2. Upon depositing form 49B (available at TIN NSDL website) with fees, you will receive 10-digit number quoted as TAN.
    3. Quote 10-digit TAN number for all communication with the IT department relating to Challan for TDS.
    4. A failure to quote TAN for challan for TDS attracts a penalty of Rs. 10,000.

    Frequently Asked Questions

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    Yes. You must submit your paid rent proof or evidence to claim HRA deductions for TDS challan.

    As per the Income Tax Act 1961 of India, you can claim up to Rs 1.5 lakhs under Section 80C for challan for TDS.

    You can only ask for TDS challan exemption if your total income falls below Rs 2.5 lakhs or is negligible. For this, you must submit declaration form 15H and 15G

    For a salaried individual, you can ask your employer to provide you with TDS Challan certificate. In other scenarios, you can visit website of the Income Tax department. Click on ‘View Your Tax Credit’, check Form 26AS. It will tell you all the details.

    If your employer does not pay challan for TDS, you will not have to pay any penalties as an employee. It is entirely the responsibility of your employer or payer to pay challan for TDS on time. However, you pay your tax liabilities while filing annual returns. If your employer fails to pay challan for TDS, you will still be eligible for paying taxes.

    Also Read: TDS Return

    Now that you have an understanding of ‘what is a TDS Challan?’ and its inherent processes, you must pay challan for TDS on time.

    ARN No: June23/Bg/21AE

    Sources:

    www.paisabazaar.com/tax/tds-challan/

    www.tin.tin.nsdl.com/oltas/index.html

    www.tin-nsdl.com/

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    Save 46800 on taxes if the insurance premium amount is Rs.1.5 lakh per annum and you are:
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    Disclaimers for Market Linked Plans & Saving plans:

     

    THE UNIT 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 FIFTH YEAR.

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    *#Some benefits are guaranteed and some benefits are variable with returns based on the future performance of your Insurer carrying on life insurance business. The assumed rates of return (4% p.a. and 8% p.a.) shown in the illustrative example are not guaranteed and they are not the upper or lower limits of what you might get back as the value of your Policy depends on a number of factors including future investment performance. The guaranteed and non-guaranteed benefits are applicable only if all due premiums are paid.The Maturity Benefit shown in the illustrative example are inclusive/exclusive of taxes.

    ^*Disclaimer: Applicable for Titanium variant of Max Life Smart Fixed-return Digital (Premium payment of 5 years, Policy term of 10 years) and a healthy female of 18 years old paying Rs.3,60,000/- annually (exclusive of all applicable taxes)

     

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    ^^On completion of policy term

    The savings indicated is the maximum premium difference as compared with offline plan & depends on the variant purchased.

    ^*All claims that qualify for InstaClaim™ will be paid within 1 working day from date of submission of all mandatory documents else Max Life will pay interest at Bank Rate as on beginning of financial year in which claim has been received (4.65 % p.a. for FY’20) for every day of delay beyond one working day. Interest shall be at the bank rate that is prevalent at beginning of the financial year in which death claim has been received.

    Claims for policies completed 3 continuous years. All mandatory documents should be submitted before 3:00pm on a working day.Claim amount on all eligible policies4 is less than Rs. 1 Crore. Claim does not warrant any field verification.Mandatory Documents :> Original policy document > Original/attested copy of death certificate issued by local municipal authority > Death claim application form (Form A) > NEFT mandate form attested by bank authorities along with a cancelled cheque or bank account passbook along with nominees photo identity proof > Discharge/Death summary attested by hospital authorities or FIR & Post Mortem Report/viscera report (in case of accidental death)

    7CMO Asia BFSI Excellence Award 2019

     

    5Criteria applicable only for “Term plans” for Graduate, Indian resident with declared income >= 10 lacs with CIBIL score >= 650 (salaried) and >= 700 (self-employed) with no disclosed medical condition

    4InstaClaim TM is available for all versions of (UIN:104N118V06). Mandatory Documents : • Original policy document • Original/attested copy of death certificate issued by local municipal authority • Death claim application form (Form A) • NEFT mandate form attested by bank authorities along with a cancelled cheque or bank account passbook along with nominees photo identity proof • Discharge/Death summary attested by hospital authorities or FIR & Post Mortem Report/viscera report (in case of accidental death)

    ##

    Tax conditions :

    ##

    Save 46,800 on taxes if the insurance premium amount is Rs.1.5 lakh per annum and you are a Regular Individual, Fall under 30% income tax slab having taxable income less than Rs. 50 lakh and Opt for Old tax regime ~# Save 54,600 on taxes if the insurance premium amount is Rs.1.5 lakh per annum for life cover and 25,000 for critical illness cover and you are a Regular Individual, Fall under 30% income tax slab having taxable income less than Rs. 50 lakh and Opt for Old tax regime.

    3The discount is applicable if you are a salaried employee with a corporate. During policy issuance, Max Life may call for proof of employment if required. In case proposer when asked is not able to prove the employment part, discount offer will be discontinued and additional premium as applicable will have to be paid for processing of the case.

    CI Rider disclaimers:

    MAX LIFE CRITICAL ILLNESS AND DISABILITY RIDER (UIN- 104B033V01) available as a rider on payment of additional premium.

    >Extended cover of up to 85 years is available with gold and platinum variant only

    @ 64 critical illnesses covered in platinum and platinum plus variant on payment

    22 critical illnesses covered in gold and gold plus variant

    6 The life insurer is eligible for a discount on renewal premium under regular pay variant by accumulating Healthy Weeks as per terms and conditions of the rider

    *^Total premiums paid inclusive of any extra premium but exclusive of all applicable taxes, cesses or levies and modal extra. Return of premium option is available on payment of additional premium.

     ~ Conditions for premium break : Available at an additional premium for policies with policy term greater than 30 years and premium payment term greater than 21 years. Option to skip paying premium for 12 months. 2 premium breaks will be available during the premium payment term separated by an interval of at least 10 years

    ~1 Conditions for Special exit value:

    Option to receive all premiums paid back, at a specified point in the term of the policy (free of cost). Available when Return of Premium variant is not chosen. No additional premium to be paid.

    ~2 Voluntary Top-up Sum assured:

    Option to double your insurance cover, basis underwriting, at the time of your need by increasing your sum assured up to an additional 100% of base sum assured, chosen at inception

    ^^*^^Free look period conditions:

    The policyholder has a period of 30 days from the date of receipt of the policy document, to review the terms and conditions of the Policy, where if the policyholder disagrees to any of those terms or conditions, he / she has the option to return the Policy stating the reasons for his objections. The policyholder shall be entitled to a refund of the premiums paid, subject only to deduction of a proportionate risk premium for the period of cover and the expenses incurred by the company on medical examination of the lives insured and stamp duty charges.

    ^Individual Death Claim Paid Ratio as per audited financials for FY 2022-2023

    8https://www.moneycontrol.com/news/business/economy/buy-term-insurance-now-as-rates-may-rise-from-april-1-4930921.html

    2Total premium will be charged at the time of the policy issuance (subject to underwriting’s decision).

    3The guaranteed benefits are available with selected life insurance plans & are applicable if all due premiums are paid

    4Tax benefits as per prevailing tax laws, subject to change

    Terms and conditions for availing 5% employee discount:

    <Due to system constraints, employee is requested to select 5 Lakh and above income which can be changed to actual amount on the information page.

    1 The 5% employee discount will be refunded to you once your policy is issued. Submit your documents for getting your policy issued and get 5% employee discount


    9

    The percentage savings is for a regular pay Max Life Smart Secure Plus Plan ( A Non Linked Non Participating Individual Pure Risk Premium Life Insurance Plan, UIN - 104N118V06)– Life Option for 1 cr life cover for a 35 year old, non-smoker male for a policy term of 40 years vs a 10 year policy term with the same details’

    ~*Standard premium for 24-year old healthy male, non-smoker, 25 years policy term,25 year premium payment term (exclusive of GST) for Max Life Smart Secure Plus Plan (UIN:104N118V06)

    **Healthy non-smoking male, 24 years, 2 cr cover,25 years policy term,25 year premium payment term, exclusive pf GST for Max Life Smart Secure Plus Plan (UIN:104N118V06)

    ~~Healthy non-smoking male, 24 years, 1 cr cover,25 years policy term,25 year premium payment term, exclusive pf GST for Max Life Smart Secure Plus Plan (UIN:104N118V06)

    Max Life Smart Wealth Plan| A Non-Linked, Non-Participating, Individual Life Insurance Savings Plan| @Rs.9,68,800/- as lump sum at the end of 15 years, for 35 years old healthy male.

    ARN - ARN/Web/01/21042021

    Past performance of the investment funds do not indicate the future performance of the same. Investors in the Scheme are not being offered any guaranteed / assured returns.The premiums & funds are subject to certain charges related to the fund or to the premium paid.

    The premium shall be adjusted on the due date even if it has been received in advance.

    For Total Installment Premium -**Total Installment Premium is the Premium payable as per premium paying frequency chosen, it excludes GST and applicable taxes, cesses or levies, if any; and includes loadings for modal premiums, Underwriting Extra Premium and Rider Premiums if any.

    For Return of Premium -~The Return of Premium Option is available on payment of Additional Premium. Premium does not include amount paid for riders and is excluding taxes, cesses and levies. Upon Policyholder's selection of Return of Premium variant this product shall be a Non-Linked Non-Participating Individual Life Insurance Savings Plan.

    For Riders -#Applicable Rider available on the payment of Additional Premium is Max Life Critical Illness and Disability Rider | Non-Linked Non-Participating Individual Pure Risk Premium Health Insurance Rider |UIN: 104B033V01 . Critical Illness and Disability Rider variant opted is Platinum Plus which covers 64 critical Illnesses. The rider cover will only be paid in scenarios where customer is diagnosed with listed 64 critical illnesses or total and permanent disability. Rider will terminate after major critical illness claim is paid to the policyholder. In case customer requests for cancellation of rider only, the solution as a whole will be cancelled and not just the individual rider.

    For Additional Benefits -##On Payment of Additional Premium. The accident cover will only be paid in scenarios where death occurs due to accident.

    *~Disclaimer | Max Life Smart Secure Plus Plan. A non-linked non-participating individual pure risk premium life insurance plan |Benefit available with special exit value -Total premium paid inclusive of any extra premium but exclusive of all applicable taxes, cesses or levies & modal extra. The premium calculated as per Standard premium for 30 year old healthy male, non-smoker, 40 years policy term, 40 years premium payment term (exclusive of GST) for Max Life Smart Secure Plus Plan.

    6

    Applicable for Titanium variant of Max Life Smart Fixed-return Digital plan (Premium payment of 5 years and Policy term of 10 years) and a healthy male of 18 years paying Rs. 30,000/- per month (exclusive of all applicable taxes) with 7.50% return. Life Insurance is available with this product.

    ##

    Policy continuance benefit is not available with lifelong wealth variant. **The accrued income will be accumulated on an annual basis at the prevailing reverse repo rate (publish on RBI’s website).

    #

    With “Save the date”, you can choose to take your annual income to any special date in a year.

    ***Available with early wealth variant. Income benefit will be paid as per selected plan terms.

    ~

    Accidental death benefit is available in call variants except for Single premium variant. Life insurance coverage is available in this product.

    #~

    Term Insurance plan bought online directly from Max Life Insurance has no commissions involved.

    ~1

    Max Life Smart Secure Plus Plan, A non-linked non-participating Individual Pure Risk Premium Life Insurance Plan| Standard Premium for 30 year old healthy male, non-smoker, 40 years policy term, 40 year premium payment term (exclusive of GST) for Max Life Smart Secure Plus Plan| ~1 Conditions for special exit value: Option to receive all premiums paid back, at a specified point in the term of the policy (free of cost). Available when Return of premium variant is not chosen. No additional premium to be paid. Option to receive all premiums back (exclusive of GST). Flexibility of exiting the plan early. Special Exit Value cover applicable till age 68 & above (of your age). T&C Apply.

    6

    Applicable for Titanium variant of Max Life Smart Fixed-return Digital plan (Premium payment of 5 years and Policy term of 10 years) and a healthy male of 18 years paying Rs. 30,000/- per month (exclusive of all applicable taxes) with 7.50% return. Life Insurance is available with this product.

    **

    Max Life Critical illness and Disability (UIN- 104B033V01) available as a rider on payment of additional premium. 64 critical illnesses covered in platinum and platinum plus variant on payment.

    *

    Available on Payment of Additional Premium. The accident cover will only be paid in scenarios where death occurs due to accident.

    7

    Available with Max Life Smart Wealth Plan (UIN: 104N116V08)

    8

    Available with Max Life Smart Fixed-return Digital Plan (UIN:104N123V04). The guaranteed benefits are available with selected life insurance plans & are applicable if all due premiums are paid.

    **Disclaimer: Standard premium for 24-year old healthy male, non-smoker, 25 years policy term,25 year premium payment term (exclusive of GST) for Max Life Smart Secure Plus Plan (UIN:104N118V06) with a life cover of Rs. 50 lakh.

    **Disclaimer: Standard premium for 24-year old healthy male, non-smoker, 25 years policy term,25 year premium payment term (exclusive of GST) for Max Life Smart Secure Plus Plan (UIN:104N118V06) with a life cover of Rs. 75 lakh.

    **Disclaimer: Standard premium for 24-year old healthy male, non-smoker, 25 years policy term,25 year premium payment term (exclusive of GST) for Max Life Smart Secure Plus Plan (UIN:104N118V06) with a life cover of Rs. 1.5 Cr.

    **Disclaimer: Standard premium for 24-year old healthy male, non-smoker, 25 years policy term,25 year premium payment term (exclusive of GST) for Max Life Smart Secure Plus Plan (UIN:104N118V06) with a life cover of Rs. 2 Cr.

    **Disclaimer: Standard premium for 24-year old healthy male, non-smoker, 25 years policy term,25 year premium payment term (exclusive of GST) for Max Life Smart Secure Plus Plan (UIN:104N118V06) with a life cover of Rs. 5 Cr.

    **Our Life insurance policies cover COVID-19 life claims under life insurance claims, are subject to applicable terms and conditions of the policy contract and extant regulatory framework.

     

    Disclaimer~*Standard premium for 24-year old healthy female,non-smoker, 25 years policy term, 25 year premium payment term (exclusive of GST) for Max Life Smart Secure Plus Plan (UIN:104N118V06)

    ~^Disclaimer: 5 year return (CAGR – Compound Annualised Growth Rate) from Max Life High Growth Fund (ULIF01311/02/08LIFEHIGHGR104) as on 31/05/2023| 2Nifty Midcap Free Float 100% (5-year return) | For more details on risk factors, terms and conditions and products offered.

    ^~The assumed rates of return (4% p.a. and 8% p.a.) shown in the illustrative example are not guaranteed and they are not the upper or lower limits of what you might get back. The value of your policy depends on a number of factors including future investment performance. The amount shown is for a 30-year-old healthy male, with 10 years premium payment term, and 35 years policy term with Max Life Online Saving Plan (Unit Linked Non Participating Individual Life Insurance Plan | Life Insurance is available in this product).

    **Disclaimer | Max Life Smart Secure Plus Plan. A Non Linked Non Participating Individual Pure Risk Premium Life Insurance Plan. | **Standard Premium for 24 Year Old Healthy Female, Non-smoker, 25 Years Policy Term, 25 Year Premium Payment Term (exclusive of GST) for Max Life Smart Secure Plus Plan. | For Male, the Total premium to be paid in 25 years is Rs.2.09 lakhs (exclusive of GST). ~As compared to the similar modal points of Male, Female has to pay Rs.13,800 lesser premium than male for the entire policy term (exclusive of GST).

    ~3Disclaimer: A 35 year old female opting for a life cover of Rs. 1 Cr till the age of 75 years pays Rs. 3,319 monthly for 10 years while a 35 year old male will pay Rs. 4,168 monthly for 10 years

    7Disclaimer : Rs. 1,00,29,587 after 14 years at policy maturity on monthly investment of Rs. 16,600 for 12 years for 30 year old male with Max Life Smart Wealth Plan – Long Term Variant. A non-linked non-participating individual life insurance savings plan. The guaranteed benefits are applicable only if all due premiums are paid. Total premiums paid is exclusive of GST. Life Insurance is available in this product. ARN: WP/SWP/250723.

    Disclaimer: ~10 year CAGR of Nifty SmallCap 250 Quality50 index as on 24/07/2023. Max Life Nifty Smallcap Quality Index Fund is passively managed Index fund that tracks the Nifty SmallCap 250 Quality50 index (subject to tracking error).