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LIFE INSURANCE COVERAGE IS AVAILABLE IN THIS PRODUCT

Max Life Shiksha Plus Super

A child's dream can be to become a rocket scientist or the next ‘Indian Idol’. We can never know what fuels their imagination and what they plan for themselves.

As parents, all we can do is back their dreams and provide financial support whenever needed. Hence, we have to start planning early for our kids. Max Life Shiksha Plus Super Plan (UIN: 104L084V08) helps you secure a fund for your child’s education and future.

 

3 Reasons to Buy Max Life Shiksha Plus Super Plan

  • Insurance with the flexibility to invest in the equity market with multiple fund options
  • Financial security for your child during emergencies
  • Funds to meet your child's higher education costs & future expenses
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What do You get with Max Life Shiksha Plus Super Plan?

What do You get with Max Life Shiksha Plus Super Plan?

Comprehensive Coverage

Get protection for your family and coverage for your child’s education with the policy continuance benefits even in your absence

Policy Term Options

Get the flexibility to choose a 10-year policy term or a term anywhere between 15 and 25 years

10 Fund Options

Invest in Government Securities, Corporate Bonds, Money market & Cash Instruments, and Equity & Equity-related Securities with 10 Fund Options.

Strategies to Secure Your Investment

Use Max Life’s investment strategies to make the most of equity and debt funds.

Guaranteed Loyalty Additions

Get additional units added to your Fund every year starting from the end of the 11th policy year.

Tax Benefits

Get tax deductions for your premiums based on the prevailing tax laws1

All You Need to Know about Max Life Shiksha Plus Super Plan

All You Need to Know about Max Life Shiksha Plus Super Plan

Insert Image Death Benefit

In case of the death of the insured during the Policy Term, the nominee will receive the Death Benefit.

This Death Benefit includes the following components:

1. Lump sum Payout on Death - of the following amounts, whichever is the highest, will be paid to the nominee:

Sum Assured

105% of the total premiums paid till the date of death

0.5 X Policy Term X Annualised Premium

2. Family Income Benefit (FIB) – An amount equal to 10% of the Sum Assured will be paid on each Policy anniversary following or coinciding with the Date of Death of the Life Insured till the end of the Policy Term, but not exceeding ten such installments.

A minimum of three such instalments is guaranteed in case of the Death of the Life Insured during the Policy Term. In case of death when less than three Policy anniversaries are left until the end of the Policy Term, any excess instalments to meet the minimum requirement of three instalments, will be paid on the Maturity Date.

3. Funding of Premium (FOP) - Under this Benefit, Max Life will fund all outstanding premiums payable under the Policy and will pay the Fund Value on maturity.

The Policy will continue even after the Death of the Life Insured till the end of the Policy Term. All the benefits shall be payable to the beneficiary.

Insert Image Maturity Benefit

Amount payable at the end of the policy term

Maturity benefit is the amount payable at the end of the policy term, which is equal to your Fund Value*, as on Date of Maturity, provided the Settlement Option has not been exercised.

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

**NAV (Net Asset Value) of a ULIP is the total value of its holdings in the market on any given day (it is calculated on a daily basis). The value of NAV is dependent on the value of the fund. As the value of the fund changes according to market conditions, the NAV value changes.

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

Insert Image Guaranteed Loyalty Additions

0.20% of Fund Value shall be added to the Fund by creating additional Units at the end of every Policy Year starting from the 11th Policy Year.

The Loyalty Additions increase by 0.02% (absolute) each year after that. The additional Units shall be created in different Funds in the same proportion as the Fund Value at the time of credit. Loyalty Additions will also be given in case of the Death of the Life Insured where the Company is funding premiums. In case of revival of policies, the Loyalty Additions for previous years will be paid based on the Fund Value prevailing at the Revival Date. It should be noted that the Loyalty Additions are only payable under the Regular Pay variant.

 

Insert Image Tax Benefits

You can get certain tax deductions on your premiums and proceeds under the policy benefits.

Please note that all such tax deductions are subject to prevailing tax laws at the time of the premium payment or receipt of benefits1.

 

Let's look at some examples that are based on a standard male life

(Standard Premium for 28-Year-Old Male, Non-Smoker, Base Plan Policy Term of 30 Years, Premium Payment Term of 30 Years):

Scenario

Example 1

Example 2

Example 3

Age of Life Insured (Years)

30

35

40

Age of the Child (Years)

1

5

10

Policy Term(Years)

20

15

10

Premium Payment Term (Years)

20

15

5

Annualised Premium

Rs. 50,000

Rs. 75,000

Rs. 1,00,000

Maturity Value (@4%)*

Rs. 11,73,676

Rs. 12,15,250

Rs. 4,77,152

Maturity Value (@8%)*

Rs. 18,58,709

Rs. 17,02,136

Rs. 6,63,393

In the examples shown here, we have considered the following options:

Premium Payment Mode: Annual

Fund Chosen: Balanced Fund

Sum Assured Multiple: Cover multiple under the product are defined as below:

Premium payment term chosen

Entry Age (Years)

Cover multiples available

Limited/ Regular pay

Age <= 49

7 & 10

Age >=50

5, 7 & 10

Entry Age (Age as on last birthday):

21 to 50 years

The Policyholder (who shall also be the Life Insured) should have a child (own or legally adopted) aged 0 - 18 years

Maximum Maturity Age (Age as on last birthday):

For 5 Pay – 60 years

For Regular Pay - 65 Years

Criteria

Specification

Premium Payment Term / Policy Term

5 Pay Variant

10 year Policy Term

Regular Pay Variant

15 to 25-year Policy Term (Policy Term is equal to the Premium Payment Term)

Premium Payment Mode

Annual, Semi-annual, Quarterly, Monthly

Minimum Annualised Premium

5 Pay

Rs. 50,000

Regular Pay

Annual Mode: Rs. 25,000

Non Annual Mode: Rs. 48,000

Maximum Annualised Premium

No Limit

Sum Assured

 

Cover multiple under the product are defined as below:

 

Premium payment term chosen

Entry Age (Years)

Cover multiples available

Limited/ Regular pay

Age <= 49

7 & 10

Age >=50

5, 7 & 10

Sum assured will be calculated by multiplying the chosen 'death benefit cover multiple' with the 'Annualised Premium'.

 

Maximum Sum Assured

No limit, subject to the Board approved underwriting policy of the Company.

Minimum Sum Assured

5 Pay

Rs. 2,50,000

Regular Pay

Annual Mode: Rs. 1,25,000

Non-Annual Mode: Rs. 2,40,000

 

Charge Structure

Premium Allocation Charge

The Premium Allocation Charge, expressed as a percentage of the premiums received, is depicted in the table below.

Allocation Charge (as % of Premium)

Policy Year

5 Pay

Regular Pay

1

5%

5%

2

4%

4%

3-5

3%

3%

6-10

NA

3%

11 & above

NA

0%

 

Fund Management Charge

This is a charge levied as a percentage of the value of assets and shall be appropriated by adjusting the Net Asset Value of the Fund. The rate to be levied will be equal to the annual rate, as given below, divided by 365 and multiplied by the number of days that have elapsed since the previous unit valuation date. The annual rate of the 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

Growth Super Fund

(SFIN: ULIF01108/02/07LIFEGRWSUP104)

1.25%

Low

Growth Fund

(SFIN: ULIF00125/06/04LIFEGROWTH104)

1.25%

Medium

Midcap Momentum Index Fund

(SFIN: ULIF02801/01/24MIDMOMENTM104)

1.25%

Very High

Nifty 500 Momentum 50 Fund

(SFIN: ULIF03015/08/24MOMENFIFTY104)

1.25%

Very High

Nifty Alpha 50 Fund

(SFIN: ULIF02914/05/24ALPHAFIFTY104)

1.25%

Very High

Balanced Fund

(SFIN: ULIF00225/06/04LIFEBALANC104)

1.10%

High

Nifty Smallcap Quality Index Fund

(SFIN: ULIF02702/08/23NIFTYSMALL104)

1.00%

Very High

Conservative Fund

(SFIN: ULIF00325/06/04LIFECONSER104)

0.90%

High

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

Discontinuance Policy Fund

(SFIN: ULIF02021/06/13LIFEDISCON104) - only available in case of policy discontinuance in the first five policy years

0.50%

Low

Policy Administration Charge

This is a charge expressed as a percentage of Annualised Premium and is levied at each monthly anniversary by cancelling proportionate units starting from the date of commencement of Policy.

 

 

Premium Payment Mode

Policy Administration Charge

(% of Annualised Premium)

Annual mode

0.32% p.m. compounding at 5% per annum from the sixth Policy year

onwards up to a maximum of Rs. 500 per month

Non-Annual mode

0.22% p.m. compounding at 5% per annum from the sixth Policy year 

onwards up to a maximum of Rs. 500 per month

 

Mortality Charge

        Mortality Charge is levied for providing risk cover to the Life Insured during the Policy Term. Levied on the attained age of the Life Insured for the Sum at         Risk and is unisex. On each monthly anniversary, an appropriate number of Units are cancelled from the Unit Account at their Unit Price. This is done to         meet mortality for the Life Insurance from the Date of Commencement of the Policy. 

Sum at Risk is defined as the sum of the following:

        Higher of [Sum Assured or 105% of total premiums paid till the date of death or (0.5 X Policy Term X Annualised Premium)] and

Present value of future Family Income Benefit plus the Funding of Premium Benefit payable

Please note the present value of these benefits will be calculated at a discounted rate of 6.5% p.a.

Please refer to the below mortality rates per thousand sum at risk for some sample ages (standard lives) as below:

Age

25

30

35

40

45

50

Mortality charge (Rs.)

(per Rs. 1,000 Sum at Risk)

0.98

1.06

1.28

1.80

2.87

4.95

  

      Surrender / Discontinuance Charge

This charge shall be levied on the Fund Value at the time of Discontinuance of Policy or effecting Complete Withdrawal (Surrender) whichever is earlier, as per the following table:

 

For 5 Pay and Regular Pay, Annualised Premium above Rs. 50,000

Policy Year

Surrender/Discontinuance Charge

1

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

2

 

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

3

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

4

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

5 & Above

Nil

 

For 5 Pay and Regular Pay, Annualised Premium upto Rs. 50,000

Policy Year

Surrender/Discontinuance Charge

1

Lower of 20% of the Annualised Premium or 20% of the Fund Value or Rs. 3,000

2

 

Lower of 15% of the Annualised Premium or 15% of the Fund Value or Rs. 2,000

3

Lower of 10% of the Annualised Premium or 10% of the Fund Value or Rs. 1500

4

Lower of 5% of the Annualised Premium or 5% of the Fund Value or Rs. 1,000

5 & Above

Nil

Switch Charge

You may Switch Units between available Funds at any time during the Policy Term, subject to a minimum Switch amount of Rs. 5,000. A maximum of twelve (12) Switches are allowed in a Policy Year, and they are free of charge. 

Premium Redirection Charge

You may redirect your future Premiums between available Funds at any time by giving us written notice before the premium due date. Your notice must quote your Policy Number and specify precisely the Fund(s) in which you wish to redirect the premiums along with the percentage of premium that you wish to allocate against each Fund. A maximum of six (6) Premium Redirections are allowed in a Policy year and all are free of charge.

Premium Reduction

The policyholder can decrease the premium up to 50% of the original Annualised Premium subject to the minimum premium limit, only at the end of 5 year lock-in period. The intimation about exercising this option should be given 15 days prior to the premium due date. Once opted, the option cannot be exercised again and the premium cannot be subsequently increased. The Sum Assured will be reduced proportionately to the new annual premium and all the applicable charges will be deducted accordingly. Both the Family Income Benefit and Funding of Premium benefit will be then based on the reduced sum assured and reduced premium respectively. The Sum Assured of attached Rider (if any) and the rider premium will also be reduced by the same proportion, subject to the regulatory boundary conditions for riders. If the revised rider benefit is not within the prescribed limits, the rider benefit will be terminated and termination conditions of the rider shall apply. 

The reduced premium payable cannot be less than the minimum premium allowable for the product.

Partial Withdrawal

After the first five policy years, a maximum of two Partial Withdrawals are allowed in a policy year and are free of charge. The minimum amount of Partial permitted withdrawal per transaction is Rs. 5,000. In a policy year, the maximum amount that can be withdrawn is 50% of the Fund Value as on the Date of the Partial Withdrawal, subject to the Fund Value, immediately after Partial Withdrawal being at least equal to 1 (One) Annualised Premium. You may make two Partial Withdrawals in a policy year such that the summation of the percentage of Fund Value withdrawn is less than or equal to 50%.

All applicable taxes, cesses, and levies are applicable on all charges as per the prevailing law as imposed by the Government. Any further taxes and cess shall be passed on to the policyholder.

Downloads Actions
Prospectus
Leaflet
Policy Contract
Premium Rates Table
Customer Information Sheet

Addition Benefits through Riders

Addition Benefits through Riders

Max Life Smart Ultra Protect Rider: (UIN: 104A049V01)

Max Life Smart Ultra Protect Rider is a Unit-Linked Individual Health Insurance Rider. This rider offers coverage against a range of risks. You may opt for coverage against one or more risks as per your needs. Risks covered under the rider are Term Booster with Accelerated Terminal Illness, Accidental Death Benefit, Accidental Total & Permanent Disability, and Payor Benefit. Return of premium option is available under all *Rider Benefit Variants except for payor benefit. The policyholder has the flexibility to choose from multiple possible combinations of *Rider Benefit Variant. For further details, please refer to Max Life Smart Ultra Protect Rider Prospectus and Policy Document.

*Rider Benefit Variant Term Booster with Accelerated Terminal Illness, Accidental Death Benefit, Accidental Total Permanent Disability will be applicable on Life insured and Payor benefit will be applicable on policyholder.

alt text Downloads

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
33.32%
Benchmark* Returns
30.48%
*(Nifty MidCap Free Float 100%)
Nature of Fund
An open ended equity multicap fund with 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
6.84%
Benchmark* Returns
6.76%
*(CRISIL Bond Index 100%)
Nature of Fund
An open ended debt fund which 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, 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.
Growth Super Fund
(SFIN: ULIF01108/02/07LIFEGRWSUP104)

Investment Group: Equity

Fund Returns
19.21%
Benchmark* Returns
17.99%
*(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
13.17%
Benchmark* Returns
12.74%
*(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
10.50%
Benchmark* Returns
10.43%
*(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, Money Market Instruments etc. 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
7.87%
Benchmark* Returns
8.01%
*(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, Money Market Instruments etc. 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
6.87%
Benchmark* Returns
6.76%
*(CRISIL Bond Index 100%)
Nature of Fund
An open ended debt fund which 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.
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.
Nifty Alpha 50 Fund
SFIN: ULIF02914/05/24ALPHAFIFTY104

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’s Nifty Alpha 50 index.
Investment Strategy
The fund to invest in a basket of stocks drawn from the constituents of NSE’s Nifty Alpha 50 Index that invests in 50 stocks across small cap, mid cap and large cap segment with highest alphas within the top 300 stocks by average freefloat market capitalisation. The objective of the fund is to invest in companies with similar weights as in the index and generate returns as closely as possible, subject to tracking error.
Nifty 500 Momentum 50 Fund
SFIN: ULIF03015/08/24MOMENFIFTY104

Investment Group: Equity

New Fund
Nature of Fund
The objective of fund is to invest in a basket of stocks drawn from the constituents of NSE’s NIFTY 500 Momentum 50 Index that invests in 50 stocks across small cap, mid cap and large cap segment, with highest normalized momentum scores within the top 500 stocks by average free-float market capitalisation.
Investment Strategy
The objective of fund is to invest in a basket of stocks drawn from the constituents of NSE’s NIFTY 500 Momentum 50 Index that invests in 50 stocks across small cap, mid cap and large cap segment, with highest normalized momentum scores within the top 500 stocks by average free-float market capitalization. The objective of the fund is to invest in 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. Star rating is Overall Rating. Rating and returns are as on 31st August 2024.

“ The Above mentioned Fund returns are after deduction of Fund Management Charges (FMC) ”

 

In the unit linked insurance policies, investment risk in the investment portfolio is borne by the policy holder. 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 fifth year. Returns are 5 year compounded annualised growth rate (CAGR). Rating and returns are as on 31st August 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 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 31st August 2024.

The details of the available investment strategy are as follows:

Dynamic Fund Allocation

You can opt for the Dynamic Fund Allocation option only at the inception of the policy. Under this option, assets under management shall be maintained amongst 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. Switching of existing Fund Value shall happen on the policy anniversary and Allocation of the premium received amongst the Funds shall happen on the date of receipt of such premium or premium due date, whichever is later, in the proportion mentioned in the table below. You do not have the option to redirect premiums or effect unit switches during the period this option is in force. You may opt out of the 'Dynamic Fund Allocation' option anytime during the Policy Term, which will then be effective from the next policy anniversary. Once opted out, 'Dynamic Fund Allocation' cannot be opted again. Also, after opting out, you can exercise free Switches or Premium Redirection options.

1. Regular Pay Variant

Number of Years to Maturity

Assets under management to be maintained under the Growth Super Fund

Assets under management to be maintained under the Secure Fund

16 – 25

80%

20%

11 – 15

60%

40%

6 – 10

40%

60%

0 – 5

20%

80%

 

2. Limited Pay Variant

Number of Years to Maturity

Assets under management to be maintained under the Growth Super Fund

Assets under management to be maintained under the Secure Fund

8 – 10

70%

30%

4 – 7

50%

50%

0 – 3

30%

70%

 

Discontinuance Policy Fund (SFIN: ULIF02021/06/13LIFEDISCON104)

The Discontinuance Policy Fund is available only in the case of policy surrender or discontinuance within the first five policy years.

Fund Name

Government Securities

Corporate Bonds

Money Market & Cash Instruments

Equity & Equity related securities

Risk Rating

Discontinuance Policy Fund

60-100%

Nil

0-40%

Nil

Low

The minimum guaranteed return on this Fund is 4.0% per annum (or as mandated by IRDAI from time to time).

The excess income earned in the Discontinuance Policy Fund over and above the minimum guaranteed interest rate shall also be apportioned to the Discontinuance Policy Fund in arriving at the proceeds of the discontinued policies and shall not be made available to the Company.

 

ARN: PDP/SPS/150824

'Wondering, Why getting a Child Insurance Plan is Necessary to Fulfill Your Child’s Education Needs.'

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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

99.65%

99.65%

(Source: Individual Death Claim Paid Ratio as per Audited Financials for FY 2023-2024)

Max Life's Presence

304 Offices

304 Offices

(Source: As reported to IRDAI, FY 2023-24)

Sum Assured

₹1,779,409 Cr.

₹1,779,409 Cr.

In force (individual) (Source: Max Life Public Disclosure, FY 2023-24)

Assets Under Management

₹150,836 Cr.

₹150,836 Cr.

(Source: Max Life Public Disclosure, FY 2023-24)

More reasons why our customers choose us

Let’s Connect

Let’s Connect

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 (09:00 AM to 09:00 PM Monday to Saturday)

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