Max Life Smart Wealth Advantage Guarantee Plan

1. Guaranteed Returns:

2. Comprehensive Financial Security for your Loved Ones:

3. Flexibility to Choose Mode of Payout: Accrual or Save the Date:

4. Flexibility to Choose Income Pay out Frequency Option:

5. Facility to Avail Loans:

6. Special Benefits and Discounts:

Apart from helping you reach your financial goals, we help you save more. For example, with the Max Life Wealth guarantee product, you get a series of special benefits and discounts. These discounts include existing customer discounts, staff discounts, transgender lives discounts, special rates for female lives, and special boosters upon choosing higher premiums or/and auto pay modes of premium payment.

Here's everything you need to know about the discounts:

● Existing Customer Discount: A 2% discount will be applicable on first-year premium for the non-single premium payment term. For single pay variants, this discount is 0.5%.

● Auto Debit Boosters: An amount equal to 1% of the premiums (including modal loadings) paid through auto debit mode will be added in the survival benefit.

● Staff Discount: A 2% discount will be applicable on the first year premium for non-single pay variants.

● Transgender Lives Discount: A 2% discount will be applied on the premium paid for non-single pay variants (For the first year). As for single pay variants, this discount is 0.5% of single premium.

● Discounts for Women: To encourage women to buy Max Life Smart Wealth Advantage Guarantee Plan, separate rates are applicable for females.

7. Policy Continuous Benefit:

8. Get Additional Riders and Tax Benefits:

9. Flexibility to Choose a Settlement Option:

Max Life Smart Wealth Advantage Guarantee Plan allows you to break your maturity and death benefits and receive them in instalments.

i) Death Benefit as Settlement:
Two settlement options are available to receive the ‘Death Benefit’ as Settlement: a) Regular Monthly Income for 60 months: You shall get 1.88% of ‘Death Benefit’ as monthly income payable for 60 months.
b) Regular Annual Income for 5 years: You shall get 22.10% of ‘Death Benefit’ as annual income payable for 5 years.

ii) Maturity Benefit as Settlement
The subscriber can receive maturity benefit either as regular monthly income for 60 months or as regular annual income for 5 years.

Survival Benefit:

The customer is eligible to avail survival benefit if they survive the policy term. Survival benefit is payable in the form of Income Benefit, Loyalty Income Booster or/and Money Back Benefit, depending on your choice of variant. Here’s the variant-wise bifurcation of the survival benefit:

●Variant 1 l Wealth for Milestones: Survival benefit is not applicable under this variant. ●Variant 2 l Regular Wealth: The survival benefit applicable under this variant includes both the income benefit and Loyalty Income Booster. The booster is equal to 10% of the Income Benefit. ●Variant 3 l The Long-Term Wealth: The survival benefit applicable under this variant includes both the income benefit and the Loyalty Income Boosters. The booster is equal to 20% of the Income Benefit. ●Variant 4 l Early Wealth Variant: Under this variant, only income benefit is applicable. ●Variant 5 l Lifelong Wealth Variant : This variant offers income benefits, Loyalty Income Boosters equal to 20% of the Income Benefit, and Money Back Benefit payable once the subscriber attains the age of 85. The Money Back Benefit equals 50% of the Sum Assured on Maturity (SAM).

Maturity Benefit:

Death Benefit:

If PCB Has not Been Opted:

The death benefit would be the sum assured on death and 125% of the Surrender Value, whichever is higher. This is applicable only when the customer has opted for a single-pay Premium Payment Term.
If the single pay premium payment term has not been opted, whichever is higher of the three will be payable: Sum Assured on Death, 105% of the (Total Premiums paid and underwriting extra premiums plus loading for modal premiums) and 125% of the surrender value should be payable.

If PCB is Opted:

• Variant 1: Wealth for Milestones Variant

This variant of the plan gives you the flexibility of choosing between multiple premium payment windows. You can either pay a one-time or regular premium for 5, 6,8, 10, or 12 years. In addition, wealth for the Milestone variant offers a lump-sum benefit at maturity. The lump-sum benefit includes the sum assured at maturity and accrued guaranteed additions.

• Variant 2: Regular Wealth Variant

The regular wealth variant features a limited-pay premium payment option where you can pay a premium for 5,6,8,10, or 12 years as per your preference. Against which you get a regular income. Under this variant, you can also choose to defer your income period. The deferment period can range between 0 to 5 years. Therefore, the policy term for this variant would be the addition of the premium payment term + deferment period + income period.

• Variant 3: Long-Term Wealth Variant

• Variant 4: Early Wealth Variant

This variant of Max Life Smart Wealth Advantage Guarantee Plan allows you to initiate income from the 1st year onwards once the premium payment term ends. You also can choose the premium payment term, income period, and policy term. You can choose a premium payment term of 10,12,15,20 years as per your financial goals. The policy term under this variant is the addition of premium payment term, income deferment period and income period. You also get a lump-sum benefit at maturity. This includes the sum assured on maturity and guaranteed additions accumulated.

• Variant 5: Lifelong Wealth Variant

Like other variants, this variant of Max Life Smart Wealth Advantage Guarantee Plan gives you the option of choosing the premium payment term. The policy term of the period would be the gap between 100 and the entry age (the age at which you buy the policy). The income period of this variant begins 1 year after the premium payment term ends. This period lasts till the policyholder attains the age of 100. The guaranteed maturity benefit under this variant is divided into two phases, wherein 50% of the premium paid is payable once the insured reaches the age of 85. The remaining premium is payable at the end of the policy term as a maturity benefit. The death benefit is also applicable under this variant.

Variant 1 (Wealth for Milestones variant):The Wealth for Milestones variant is ideal for those who prefer a lump-sum maturity amount to fulfill their short-term financial goals. The variant is also suitable for those who prefer to invest in guaranteed lump-sum instruments.

Variant 2 (Regular Wealth variant): The Regular Wealth variant is ideal for individuals who want a regular stream of secondary income for a designated period of time to fulfil multiple planned goals for their family and children.

Variant 3 (Long-term Wealth variant): The Long-term Wealth variant of the plan is ideal for who want a regular stream of long term secondary income to fulfil multiple planned goals for themselves and their family.

Variant 4 (Early Wealth Variant): The Early Wealth variant of the plan is ideal for investors who prefer to get their returns starting as early as year 1.

Variant 5 (Lifelong Wealth Variant): The Lifelong Wealth variant of our plan is ideal for individuals wanting an income stream for their post retirement years.