Future Genius Education Plan

Every child is born a genius, in his or her special way. All that he/she needs is the right amount of guidance, good education & a safe environement for learning & growth.

Max Life Future Genius Education Plan has been designed to help parents manage their child’s higher education costs through disciplined savings. The insurance plan provides flexibility to parents to choose premium payment term, policy term & the timing of moneybacks depending on the education needs of their child.


3 reasons you should buy this plan:

  • Fulfill your child's higher education needs
  • Make your child’s dream marriage plans come true
  • Provide financial security to your child during emergencies

What do I get with this plan?

What do I get with this plan?

Here’s all you need to know about this plan

Here’s all you need to know about this plan

Insert Image Death Benefit

Payable immediately at the time of death of the Life Insured

It is defined as higher of:

  • 11 times the Annualized Premium (which is the premium paid over an year, excludes all applicable taxes, cesses and levies as imposed by the Government and remains same irrespective of your premium payment mode)

  • 105% of all premiums paid as on the date of death of Life Insured

  • Guaranteed Sum Assured on Maturity**

  • Any absolute amount assured to be paid on death#

Key advantages under Death Benefit:

  • The policy does not terminate after the death of the life insured

  • You receive Policy Continuance Benefit, in which all due premiums, if any, coinciding or following the date of death of the Life Insured shall be waived and the policy will continue. The moneyback and maturity benefit shall be payable to the beneficiary as and when due. The policy shall also participate in future bonuses.

  • You receive Settlement Option under Death Benefit - the nominee can choose to receive the proceeds under the Death Benefit with following settlement options:

  • Lump Sum Benefit: Nominee can choose to take the entire Death Benefit as lump sum payout

  • Monthly Income for 135 months: Nominee can choose to take 1% of Death Benefit as monthly income which will be payable for 135 months.


**Please note that the Guaranteed Sum Assured on Maturity is ‘zero’ or ‘nil’ under this product as all the guaranteed benefits under the product is paid out in the form of four moneybacks each equal to 25% of Sum Assured (SA) payable annually in each of the last four policy years as mentioned under ‘Moneyback Benefits’ below.

#Absolute amount assured to be paid on death is equal to Sum Assured (SA). This SA is the amount chosen by the Policyholder basis which the premium amount for the Policy is determined.


Insert Image Maturity Benefit

Amount payable at the end of the policy term

As a participating plan, this insurance plan will provide you the following benefits on maturity:

  • Accrued Paid Up Additions (PUA) (if any) or Cash Bonus (if any), whichever is applicable

  • Terminal Bonus (if any)

Both PUA and terminal bonus are paid along with the 4th Moneyback, if the payment dates coincide.
However, you may note that both the Terminal Bonus and PUAs are not guaranteed and are dependent on the company’s performance over the years. With these payouts, the policy gets terminated unless monthly incomes are remaining under the settlement option.

Bonus Options:

  1. Annual Bonus: You can choose to receive the annual cash bonus announced by Max Life in following ways:-

    1. Cash: You can receive the annual bonus in cash as and when declared by the company.

    2. Premium Offset - You can use the accumulated cash bonus to pay your future premiums.

    3. Paid Up Additions (PUA) - You can use your bonus amount to purchase Paid Up Additions (PUA). Buying these PUA increase the policy’s cash value thereby increasing the living and death benefits under the policy. PUA are payable in full on Maturity of the policy. Also, these PUA will earn further bonuses to increase the value of the policy. In case of surrender, Surrender Value of the PUA will be paid to the Policyholder.

  2. Terminal Bonus: Terminal Bonus is an additional bonus paid only once either on Surrender or at Maturity, provided the Policy has been in force for at least five years. In case you surrender the policy, you will get surrender value (if any) of the Terminal Bonus. In case of death of life insured, policy will continue and Terminal Bonus (if any) shall be payable only on Maturity.

Insert Image Paid Up Additions (PUA) Withdrawal Option

The Policyholder can take the Surrender Value of the accrued PUA (partially or in full).

The remaining PUA will continue to participate in bonuses.

Minimum Withdrawal amount – Rs. 5,000

Maximum Withdrawal amount – Subject to maximum PUA cash value available


Insert Image Discounting and Deferment Options

With an aim to match your child’s education needs, the policy offers you the flexibility to discount and/or defer the Moneyback payments.

If you want to use this option, you can contact the company at-least 3 months before the date of the first moneyback. We will proactively get in touch with you 6 months prior to the start of Moneyback schedule.

The schedule with the timing of original Moneybacks and the maximum number of months for which each Moneyback payment can be discounted/deferred is shown below:


Default timing of
(in years)

Maximum number of months
by which moneyback
can be discounted

Maximum number of months
by which moneyback
can be deferred


Policy Term – 3




Policy Term – 2




Policy Term – 1




Policy Term



Insert Image Moneyback Option

Four Moneybacks each totaling to 25% of Sum Assured is payable in the last 4 policy years.

The remaining PUA will continue to participate in bonuses.

Minimum Withdrawal amount – Rs. 5,000

Maximum Withdrawal amount – Subject to maximum PUA cash value available


Let’s consider Mr. Verma’s (35 yrs) case to explain this plan. He chose Max Life Future Genius Education plan for his son Avinash (3 yrs) with following plan details:

Annual Premium:  Rs.  1,00,000 (annual premium payment mode)

Policy Term: 18 years (Limited Pay Variant)

Assuming Mr. Verma chose a Policy Term of 18 years with Limited Pay variant, his Premium Payment Term will be 15 years with a Sum Assured equal to  INR 16,85,772. Mr. Verma chose to receive Bonus as a Paid Up Addition (PUA).


(in Rs. )

(in Rs. )

15th Year

15,00, 000 (in 15 yrs)

4,21,443 (25% of Sum Assured)

16th Year


4,21,443 (25% of Sum Assured)

17th Year


4,21,443 (25% of Sum Assured)

18th Year


4,21,443 (25% of Sum Assured)


94,169 (Terminal Bonus + Accrued PUA* @4%)




We have assumed an average investment return of 4% over the years. It is possible that the total payout may be much higher; for instance, at 8% rate of return, total payout will be = Rs. 25,75, 907.

However, what will happen if Mr. Verma meets with an accident and dies before paying all his premiums?

Let’s say Mr. Verma passes away after 5 premium payments. Totalling to Rs. 5,00,000.

Mr. Verma’s family will receive a lumpsum death benefit of Rs. 16,85,772.

The nominee can choose to convert the same amount in a monthly income of Rs. 16, 857, which will continue for 135 months.

The policy will now continue as it would have in Mr. Verma’s presence with future premiums waived off by Max Life.. The company will also pay the maturity amount as shown in the table above.

*Please note that bonuses are non-guaranteed and declared every year depending on the company’s performance. This means there isn’t any fixed rate of return.

Age at Entry

Minimum entry age: 21 years

Maximum entry age: 45 years

Maximum Maturity Age

66 years

Policy Term

Pick any term from 13 years to 21 years

Premium Payment

Two Premium Payment Term options are available

1. 8 Pay variant  -  8 years or

2. Limited Pay variant -  Complete Policy Term minus 3 years

Premium Payment

You can choose from Annual, Semi-Annual, Quarterly and Monthly Premium Paying Modes.

Minimum Annual

For 8 Pay variant – Rs. 40,000

For Limited Pay variant (Policy Term less 3 years) – Rs. 20,000

The minimum premium is exclusive of all applicable taxes, cesses and levies as imposed by the Government, modal extra and extra premium (if any)

Maximum Annual


No limit

Sum Assured (SA)


8 Pay variant : Rs. 3,27,000

Limited Pay variant : Rs. 2,12,000

(subject to minimum premium limits)


No limit, subject to limits determined in accordance with the Board approved underwriting policy of the Company



Policy Contract
Premium Rates Table

Additional Benefits through Riders

Additional Benefits through Riders

Wondering, why getting a child insurance plan is necessary to fulfill your child's education needs

Understand Child Insurance Plans better

Why Choose Max Life

Here are some of the numbers which speak about our accomplishments

Why Choose Max Life

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



(Source : Annual Results Release FY18-19)

Max Life Presence

239 Offices

239 Offices

(Source : Annual Results Release FY18-19)

Sum Assured

₹7,03,972 Cr.

₹7,03,972 Cr.

In force (individual) (Source : Public disclosure FY18-19)

Assets Under Management

₹62,798 Cr.

₹62,798 Cr.

(Source : Public disclosure FY18-19)

More reasons why our customers choose us
See how parents are fulfilling their child's dreams
See how parents are fulfilling their child's dreams

My daughter has been very good at studies since her childhood. We didn't want our financial situation to come in between her studies. That's why I started exploring education loans and came across Max Life insurance plans.

I bought Max Life Future Genius Education Plan which I found to be quite affordable and payments can also be made easier. Now, I can support my daughter to choose a career of her own without worrying about financial issues.

Mr. Gogoi, 35 years


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