• Customer Login
    • Home>
    • Investment Plans>
    • PPF Calculator

    Public Provident Fund Calculator

    Public Provident Fund or PPF is one of the most popular tax-saving investment options available in India. It was launched by the government of India to provide guaranteed returns to small-savers. PPF investments fall in the Exempt-Exempt-Exempt category so, the investment amount, the interest earned and the maturity amount are all tax free. As the PPF scheme offers guaranteed returns, you can estimate your returns using a PPF calculator even before you invest. It is an online tool that can help you resolve your queries related to calculation of returns and interest earnings from your Public Provident Fund investments. The maturity amount and interest earned can be easily calculated with the help of a PPF calculator. In this article, let us understand everything you need to know about a PPF calculator, including its advantages and features....Read More

    Calculate your earnings with PPF

    View Plans

    You Get

    Total investment
    ₹ NaN
    Interest earned
    ₹ NaN

    You Get

    Maturity value
    ₹ NaN↑ NaN%

    Compounding is occurring annually

    icon

    Pay Rs. 10,000/month

    for 10 years

    Get Rs.30 Lakh* after 20 years

    View plans

    Other Popular Calculators

    • SIP Calculator
    • FD Calculator
    • RD Calculator
    • Income Tax Calculator
    • Term Insurance Calculator
    • Investment Calculator

    *

    Disclaimer

    Max Life Smart Wealth Plan |A Non-Linked, Non-Participating, Individual Life Insurance Savings Plan|@Rs. 30,22,400 as lump sum at the end of 20 years, for a 30 years old healthy male

    avatar-image

    Written by

    Reviewed by

    avatar-image

    Abhishek Chakravarti

    BFSI Writer

    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.

    avatar-image

    Sahil Rawal

    BFSI Expert

    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 PPF Calculator?

    PPF calculator is basically an online financial tool that can help you find out your maturity amount along with the interest earned on your initial investment. With the PPF amount calculator, you can keep track of the growth of your investment.

    Not every one of us can handle complicated calculations to arrive at the maturity amount. If you are planning to invest in PPF and don’t know how much to invest or how much returns you may get, using an online PPF calculator can be beneficial.

    How PPF Calculator Works?

    A PPF calculator works based on the mathematical formula to calculate the returns and interests earned on one’s investment. Using them is very easy. Most calculators have a user-friendly interface. However, if you are new to using online calculators, here is a quick step-by-step procedure to use a PPF interest calculator: -

    Step 1: Visit the online PPF calculator website of your choice.

    Step 2: Fill in all the details asked, including your initial investment and interest rate.

    Step 3: The total maturity amount will be displayed on the screen within a few seconds.

    It should be noted that if an individual deposits the amount on the 1st of April, then the interest earned will be calculated based on the financial year.

    Public Provident Fund Calculation Formula

    PPF-calculator-formula.png



    The PPF return calculator uses the compound interest formula to compute the interest earned and maturity amount of the investment. This is what the Public Provident Fund calculation formula looks like:

    F = P[({(1 + i)n} – 1)/i]

    Here,

    i = Rate of interest

    F = Maturity Amount

    N = Investment Tenure in years

    P = Principal Amount invested (annually)

    To get a clear idea of this formula, let’s look at an example. Assuming you deposit an annual amount of Rs. 1 lakh in your PPF account for a period of 15 years at an interest rate of 7%, then the maturity amount on completion of PPF tenure will be equal to Rs. 28.82 lakh.

    How PPF Calculator Can Help You?

    When you are new to investing, using online calculators can help you get a clear idea of the various investment option. In the case of PPF, using an online PPF calculator can be a big help.

    • You can get a clear picture of the growth of your PPF investment and the interest you will earn over time.
    • Using a PPF calculator you can figure out how much you need to invest annually or monthly to reach your target corpus
    • A PPF calculator can be used for free multiple times and you do not need to install any additional software to use it
    • Since this is an automated tool, the risk of errors arising from manual calculation is eliminated.
    • Most PPF calculators shows the results graphically which makes the results easy to understand for all users.

    How to Calculate Expected Returns from PPF?

    • The expected returns from PPF can be calculated using this formula.
    • F = P [({(1+i) ^n}-1)/i]
    • Where,
    • F = PPF maturity amount
    • I = Interest Rate
    • P = Investment made in a year
    • N = Investment tenure
    • Let us understand how the calculation works with the help of an example:
    • Suppose Rahul invests a yearly amount of Rs. 1,00,000 in their PPF account for a period of 15 years at a rate of interest of 7.1%, then the amount at maturity would be INR 27,12,139
    • This is how,
    • F = 1,00,000 [({(1+7.1) ^15}-1)/7.1]
    • = 27,12,139
    • If the calculations seem complex to you, you can use a PPF interest calculator to get error-free results in a jiffy.

    Advantages of using a PPF Calculator

    PPF-calculator-advantages.png



    PPF account calculator is an easy-to-use online tool that can provide you with details of the interest earned and the maturity value of your Public Provident Fund investments at maturity.

    Here are some of the key advantages of using a PPF calculator: -

    Helps in Investment Planning

    Planning your financial goals is much easier when you know your returns even before investing. PPF is a scheme that offers guaranteed returns at a fixed rate of interest after a specific period of time. So, using a PPF calculator can give you a good idea of your expected returns.

    Free Unlimited Usage

    PPF calculators online can be used for free unlimited times. So you can calculate the growth of your PPF investments using different investment amounts and different investment frequencies at no cost. This can help you plan your investment goals better.

    Benefits of Investing in PPF scheme

    The PPF scheme comes with various features and benefits. Here are some of them: -

    1. Option To Extend Tenure Indefinitely

    Since PPF is a government-backed investment scheme, the investors enjoy the security and safety of their funds. Usually, the risk-averse people who want guaranteed returns opt to invest in the Public Provident Fund.

    2. Loan Against PPF and Partial Withdrawal Options:

    Under the PPF scheme, the subscribers are allowed to take loans against their PPF account at a reasonable rate of interest. This benefit can be availed from the 3rd to 6th year of account opening. It is extremely beneficial for investors who want to take short-term loans without having to pledge any collateral. The PPF is a long-term investment with a lock-in period. However, partial withdrawals can be made after the completion of 5 years. These options can come in handy during financial emergencies.

    3. Flexible Investment Amounts

    A PPF account can be opened by any resident Indian willing to start investing with a minimum amount of Rs. 500 every year. This annual contribution can also be as high as Rs. 1.5 lakh in a year. This makes PPF a flexible investment option for individuals with various financial means.

    4. Power of Compounding

    The amount invested in PPF is compounded on an annual basis according to the declared rate of interest and the investment matures in 15 years. As PPF subscribers stay invested for the long-term, they are ideally placed to benefit from the power of compounding.

    PPF Investment Schedule

    PPF comes with an investment tenure of 15 years. You also have the option to increase this tenure by 5 years indefinite times. The long tenure can help you generate sizeable wealth in the long run.

    How to open a PPF account?

    PPF-calculator-open.png

    Traditionally PPF accounts could only be opened offline by submitting physical forms at an India Post Office, Public Sector Banks or select Private Sector Banks. Now you can also open a PPF account online with some banks in India.

    If you want to open a PPF account via the offline route, you can follow these steps: -

    • Get the application form from the nearest post office or bank in your area.
    • Fill up the form and submit it with the required KYC documents like Aadhaar/PAN and photographs.
    • The minimum initial deposit required at the time of account opening is Rs. 500.
    • Once all documents are verified, your account will be opened and you receive a PPF account passbook.

    In case you are looking to open a PPF account online, here is a step-by-step process to open a PPF account online: -

    • Firstly, you should have a savings account in the bank that provides the option of opening PPF account online
    • Log into the Internet Banking account and click on the Public Provident Fund option.Confirm the details entered and enter the amount you want to deposit.
    • Complete the mandatory online KYC.
    • Once the PPF account is opened, you will see details of your PPF account displayed along with your linked savings account.

    How to withdraw money from PPF?

    The PPF is a long-term investment with a lock-in period. However, partial withdrawals can be made only after completion of 5 years after account opening. If you are eligible to withdraw money from your PPF account, you can do that by following these steps: -

    Step 1: Download the PPF withdrawal form (Form C) from your bank’s official website. There are a total of 3 sections of this form: -

    • Declaration Section: Under this section, you need to provide your PPF account number and the amount you wish to withdraw. You are also required to specify the number of years the account has been active.
    • Office-use Section: In this section, one needs to fill in the details like the date of account opening, date of previous withdrawal, and the current total balance.
    • Bank details section: Bank account number and other details of the PPF account in which the withdrawn amount should be transferred.

    Step 2: Attach a copy of the PPF passbook along with Form C.


    Step 3: Submit the document at your respective bank branch.

    After this, your application will be processed, and the withdrawal amount will be sanctioned. You can get the credited amount to your savings account or get a DD for the same.

    Frequently Asked Questions

    search

    The PPF interest rate for 2022-2023 is 7.1%. You can use a PPF interest rate calculator to calculate the interest amount you will be accumulating.

    The interest is calculated on the lowest balance in the account between the 5th and the last day of the month. Interest rates are determined by the government and are revised quarterly.
    An FD has a lock-in period of 5 years, which is much lesser than the PPF lock-in period of 15 years. But FDs carry some risk, and the interests earned are taxable. So, if you want to invest for the long term, PPF can be a good option.
    No, partial withdrawals under the PPF account are allowed only after the completion of 5 years after account opening.
    The maturity amount at the end of 15 years depends on your initial investment and the interest rates offered.
    Public Provident Fund or PPF is one of the most popular tax-saving investment options available in India. It is a government-backed scheme that offers guaranteed returns. It has a lock-in period of 15 years. The maturity amount is given on the completion of 15 years.
    The PPF account offers tax benefits under section 80C of the Income Tax Act of India, 1961. Tax deductions up to Rs. 1.5 lakh on the invested amount is allowed. It follows the EEE (Exempt-Exempt-Exempt) model of taxation, which implies that both the interest earned and the maturity amount are exempted from taxes.
    You can start investing in a PPF scheme with a minimum amount of Rs. 500, and the maximum is Rs. 1.5 lakh in a financial year.
    Yes, the investments made under a PPF account are compounded on an annual basis.
    The lock-in period for the PPF scheme is 15 years.

    Yes, the maturity amount, include the interest earned is completely tax-free.

    PPF comes with a lock-in period of 15 years.

    No, you can only open one PPF account.

    Yes, you can withdraw the full PPF amount after 15 years.

    Yes, you can close the PPF account before maturity. You would be required to submit a form C at your nearest post office or your bank branch.

    ARN: PCP/PPFC/200223

    Sources:

    www.timesofindia.indiatimes.com/business/financial-calculators/ppf-calculator

    www.jupiter.money/resources/public-provident-fund-ppf-calculator/

    www.economictimes.indiatimes.com/wealth/invest/why-investors-love-ppf-as-a-tax-saving-investment/exempt-exempt-exempt-tax-status/slideshow/89620333.cms

    www.livemint.com/money/personal-finance/5-benefits-of-ppf-account-beyond-income-tax-exemption-11622692108514.html

    www.sbi.co.in/web/faq-s/faq-public-provident-fund

    www.hdfcbank.com/personal/resources/learning-centre/invest/a-step-by-step-guide-on-how-to-open-a-ppf-account

    www.retail.onlinesbi.com/sbi/downloads/PPF/FORM-C_(PPF%20WITHDRAWAL).pdf

    www.axisbank.com/progress-with-us/money-matters/save-invest/how-much-amount-partially-can-be-withdrawn-from-ppf-account

    www.economictimes.indiatimes.com/wealth/invest/latest-public-provident-fund-ppf-interest-rate/articleshow/90489151.cms

    www.economictimes.indiatimes.com/wealth/invest/why-investors-love-ppf-as-a-tax-saving-investment/exempt-exempt-exempt-tax-status/slideshow/89620333.cms

    groww.in/p/savings-schemes/ppf-withdrawal

    economictimes.indiatimes.com/wealth/invest/ppf-alert-two-or-more-ppf-accounts-opened-after-this-date-cannot-be-merged/articleshow/89963770.cms

    economictimes.indiatimes.com/wealth/invest/how-is-interest-calculated-on-ppf/what-makes-ppf-so-popular/slideshow/90775911.cms

    Related Articles

    short-term investment-plans.png

    Best Short Term Investment Plans for Income Tax Benefits

    Each year, you get reminders from tax professionals and employers, implying that the tax season has begun. It is the time when you…

    Read More
    related-articles-savings3.jpg

    Investment Options

    Choosing the best investment options for wealth management is an area of concern for people of all income groups…

    Read More
    related-articles-fd-calculator-1.jpg

    Best Tax Saving Investments Under 80C

    The importance of long-term investments cannot be over emphasized. They are the gateway to the power of compounding…

    Read More
    More Resourceful Articles

    Choose a Max Life Savings & Income Plan

    • Max Life Smart Wealth Plan

      Flexibility to choose from 4 plan options

      Guaranteed benefits as lumpsum or as regular income

      Guaranteed income for a fixed term of 25 or 30 years with long term income option

      Know more
    • Max Life Savings Advantage Plan

      Be flexibile to choose policy duration that matches your life goals

      Get lumpsum amount on maturity that is partly guaranteed

      Save tax under section 80 C and Section 10(10D) as per prevailing tax laws

      Know more
    • Max Life Monthly Income Advantage Plan

      Lumpsum benefit on maturity

      Guaranteed monthly income for 10 years after premium payment term

      Policy continues for family even in case of death of policyholder

      Know more
    • Max Life Whole Life Super

      Get complete protection until the age of 100 years

      Preserve a corpus for your family’s secured future

      Lumpsum payout at the age of 100 years

      Know more
    • Max Life Assured Wealth Plan

      Get guaranteed lump sum maturity benefit to meet your savings goals

      Flexible Premium Payment and Policy Term Options to help build wealth by saving systematically

      Lump sum death benefit is paid immediately on death of Life Insured

      Know more
    • Max Life Smart Fixed-return Digital Plan

      Returns in just 5 year

      Tax-Free## Fixed Returns up to 6.27%^*

      Tax savings up to Rs. 46,800## u/s 80C

      Know more

    Customer Reviews

    Smart Wealth Plan

    “I have taken Monthly Income advantage plan , ULIP Fast track Super plan and Smart Wealth plan from max life insurance company ....from which my family is safe and Secure..”

    Manisha Deep Andola

    Saving Advantage Plan

    “I have invested in Max life cancer plan and Max life savings advantage plan. Both these plans are keeping me secured from illness and financial security”

    Archana

    Share your Valuable Feedback
    Rating Icon

    4.4

    Rated by 853 customers

    Was the Information Helpful?

    Very Good

    Why Choose Max Life

    99.34% Claims Paid Percentage

    (Source : Max life annual audited financials FY 21-22)

    269 Offices

    (Source : As reported to IRDAI, FY 21-22)

    ₹1,174,515 Cr. Sum Assured

    In force (individual) (Source : Max Life Public disclosure, FY 21-22)

    ₹1,07,510 Cr. Assets Managed

    (Source : Max Life Public disclosure, FY 21-22)

    StickyImage

    Pay ₹10,000/month for 10 yrs
    Get ₹30 lakh*
    after 20 years

    img
    100% Guaranteed returns*#
    img
    Save tax up to Rs. 46,800##
    Online Sales Helpline
    • 0124 648 8900(09:00 AM to 09:00 PM Monday to Saturday)
    • service.helpdesk@maxlifeinsurance.comEmail
    • SMS ‘LIFE’ to 5616188Message
    • Let us call you back
    Customer Service
    • 1860 120 5577(9:00 AM to 6:00 PM Monday to Saturday)
    • Chat with us
    • Write to usPlease write to us incase of any escalation/feedback/queries.
    NRI Helpdesk
    • 011-71025900, 011-61329950(9:00 AM to 6:00 PM Monday to Saturday)
    • nri.helpdesk@maxlifeinsurance.comPlease write to us incase of any escalation/feedback/queries.

    Popular Searches

    Ulip PlanTax Saving InvestmentTax CalculatorULIP CalculatorULIP Saving PlanInsurance CalculatorOnline InsuranceHow to Save Tax with UlipsHow to Choose the Best Investment PlanWhat is InvestmentTips to Get Better Returns with UlipsMaximize Your Returns With UlipsTerm PolicyTerm Insurance Premium CalculatorOnline Term PolicySmart Term PlanCritical Illness PolicyClaim Settlement RatioBest Life Insurance PolicyOnline InsuranceChild InsuranceRetirement PlanBest Saving PlansGroup Insurance PlanChoose Best Health Insurance PlanCancer InsuranceBecome an agentTypes of Best Investment Plan In IndiaBest Investment Options In IndiaCapital Guarantee SolutionFD CalculatorCIBIL Credit ScoreRD CalculatorSystematic Investment PlanGold Investment In IndiaGold RateFixed Deposit OnlineRecurring Deposit OnlineTerm Insurance for Housewife
    • Online Term Plan
    • Critical Illness
    • Smart Term Plan
    • Term Plan with Return of Premium
    • Claim Settlement Ratio
    • Smart Secure Plus Plan
    • Continue with existing eQuote
    • Term Insurance for Housewife
    • Online Insurance Plans
    • Child Insurance Plans
    • Retirement Plans
    • Group Insurance Plans
    • Health Insurance Plans
    • Cancer Insurance Plan
    • NRI Plans
    • ULIP Plans
    • Tax Saving Investment
    • Smart Wealth Plan
    • Assured Wealth Plan
    • Smart Wealth Income Plan
    • Flexi Wealth Advantage Plan
    • Savings & Income Plans
    • Smart Fixed-return Digital Plan
    • Money Back Policy
      • Pay Premium Online
      • Premium Payment Options
      • Download Premium Receipts
      • Track Applications
      • Claims Centers
      • Download Policy Pack
      • View Policy Details
      • Electronics Insurance Account
      • Frequently Asked Questions(FAQs)
      • Existing Customer Journey
      • Contact Us
      • Update Personal Details
      • Change Nominee
      • Download Forms
      • Update PAN Card
      • Service TATs
      • Auto Debit Deactivation
      • Certificate of Insurance
      • Why Max Life
      • Know Our Story
      • Awards & Achievement
      • CSR
      • Our Leadership
      • Media Center
      • Careers
      • Public Disclosures
      • ISNP Details
      • All About Claims
      • Become An Agent
      • NAV Performance
      • Monthly Factsheets
      • Fund Portfolio
      • NAV Performance & Benchmark
      • Monthly Fund Snapshot
      • Annual Investment Report
      • Investors
      • IRDAI Consumer Education Website
      • Agent Suspended & T.
      • Do Not Disturb
      • Insurance Ombudsman
      • Privacy Policy
      • Disclaimers
      • Service TATs
      • Grievance Redressal
      • Unclaimed Amount
      • Withdrawn Plans
      • Sitemap
      • UW Approach & Philosophy

      Group Sites

      • MAX INDIA
      • MAX SPECIALITY
      • MAX FINANCIAL SERVICES
      • ANTARA SENIOR LIVING

      BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS

      IRDAI clarifies to public that:
      • IRDAI is not involved in activities like selling insurance policies, announcing
      bonus or investment of premiums.

      • Public receiving such phone calls are requested to lodge a police complaint.

      IRDAI - Registration No. 104. ARN/Web/01/21042021 Category: Life. Validity: Valid.
      Corporate Identity Number (CIN):U74899PB2000PLC045626.
      Trade logo displayed belongs to Max Financial Services Ltd. and Axis Bank Ltd .respectively and with their consents, are used by Max Life Insurance Co. Ltd

      All Rights Reserved. An ISO 9001:2008 Certified Company.

      Max Life Insurance Company Limited is a Joint Venture between Max Financial Services Limited and Axis Bank Limited.

      Corporate Office :

       Max Life Insurance Co. Ltd. 11th Floor, DLF Square Building, Jacaranda Marg, DLF City Phase II, Gurugram (Haryana) - 122002.

      Operation Center :

       Max Life Insurance Co. Ltd, Plot No. 90-C UdyogVihar, Sector 18, Gurugram (Haryana) - 122015.

      Customer Helpline: 1860 120 5577 (9:00 A.M to 6:00 P.M Monday to Saturday) * Call charges apply.

      Online Helpline - 0124 648 8900 (09:00 AM to 09:00 PM Monday to Saturday).

      Fax Number:0124-4159397.

      Email ids: service.helpdesk@maxlifeinsurance.com

      Website: www.maxlifeinsurance.com

      Max Life Insurance is integrated with licensed NBFC FinVu(Cookiejar Technologies Pvt. Ltd. for sharing policy details with regulated Financial Information Users within the Account Aggregator ecosystem after obtaining the Policy holder's consent. Read more about Account Aggregator framework here.

      *Life insurance coverage is available in this product. For more details on risk factors, Terms and Conditions please read the prospectus carefully before concluding a sale. You may be entitled to certain applicable tax benefits on your premiums and policy benefits. Please note all the tax benefits are subject to tax laws prevailing at the time of payment of premium or receipt of benefits by you. Tax benefits are subject to changes in tax laws. Trade logo displayed belongs to Max Financial Services Ltd. and Axis Bank Ltd. respectively and with their consents, are used by Max Life Insurance Co.

      Insurance is the subject matter of solicitation. For more details on the risk factors, Terms and Conditions, please read the sales and rider prospectus carefully before concluding a sale. Tax benefits are eligible for tax exemption on fulfilling conditions mentioned under Section 10(10D) of income tax act 1961. Tax exemptions are as per our understanding of law and as per prevailing provisions of income tax at 1961 . Policy holders are advised to consult tax expert for better clarification /interpretation. Please note that all the tax benefits are subject to tax laws at the time of payment of premium or receipt of policy benefits by you. Tax benefits are subject to changes in tax laws. The monthly Income Benefit and Terminal Benefit may be taxable subject to extra premium being loaded at underwriting stage.

      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.

      Unit Linked Insurance Products (ULIPs) are different from the traditional insurance products and are subject to the risk factors. The premium paid in the Unit Linked Life Insurance Policies is subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions. Max Life Insurance is only the name of the insurance company and Max Life Online Savings Plan (UIN: 104L098V05) is only the name of the unit linked life insurance contract and does not in any way indicate the quality of the contract, its future prospects or returns. Please know the associated risks and the applicable charges from your Insurance agent or the Intermediary or policy document of the insurer. The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these funds, their future prospects or returns.

      Max Life Online Savings Plan is a Unit Linked Non Participating Individual Life Insurance Plan (UIN104L098V05)

      *#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)

       

      Privacy Policy

      ^^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:104N118V05). 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 Claims Paid Ratio as per IRDAI Annual Report FY 2021-2022

      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 - 104N118V05)– 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:104N118V05)

      **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:104N118V05)

      ~~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:104N118V05)

      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. 20,000/- 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. 20,000/- 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:104N123V03). 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:104N118V05) 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:104N118V05) 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:104N118V05) 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:104N118V05) 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:104N118V05) 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.