Under this variant, Mr. Ahuja’s chosen sum assured at the inception of the policy will grow at a rate of 5% annually, at each policy anniversary, subject to a maximum of 200% of the base sum assured. This type of life cover is ideal for managing the impact of inflation and increased cost of living.
He can choose between different premium payment options such as – Single Pay, Regular Pay, 5 Pay, 10 Pay, 12 Pay, 16 Pay, Pay Till 60. In addition to this, , the beneficiary of Mr. Ahuja’s policy will have options to choose from different pay-out options at the claim stage. Since each family’s financial profile is different, the pay-out options allow them to receive the money on their terms, as per their preference.
The family can choose to receive the pay-out from Max Life Smart Secure Plus Plan as a lump sum amount, as monthly income or part lump sum and part monthly income.
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