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    Max Life Smart Wealth Income Plan

    Ensuring your family's lifelong happiness requires establishing a source of lifelong income for your loved ones with extra love, comfort, and opportunities to fulfil their dreams. Max Life Smart Wealth Income Plan is an innovative product designed to help you achieve your life's goals. Here's all you need to know about it! ...Read More

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    Term Insurance and Investment Plans

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    Create wealth for your and your family’s future goals

    With Max Life Investment Plans


    Pay ₹10,000/month for 10 years
    Get Rs.30 Lakh*
    after 20 years

    • benefits
      100% Guaranteed returns*#
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      Save tax up to Rs. 46,800##
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    Maximize Your Savings With Max Life Investment Plans

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    *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

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    Written by

    Reviewed by

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    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.

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    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 Max Life Smart Wealth Income Plan?

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    The Max Life Smart Wealth Income Plan (Max Life Smart Wealth Income Plan; Non-Linked Participating Individual Life Insurance Savings Plan | UIN: 104N120V02) is a comprehensive solution to your lifelong happiness by providing an additional income stream. It is a participating product that gives you the financial capacity to satisfy your family's demands while ensuring that you and your loved ones live a comfortable life.

    It offers multiple customisation options to suit the diverse profiles of customers. No two people have the exact same financial requirements. Hence, when you are creating a financial plan to fulfil your loved ones and your family's dreams, it is crucial to tailor it to provide maximum benefits for you.

    Features of Max Life Smart Wealth Income Plan

    Besides the variants of the Max Life Smart Wealth Income Plan, there are other important features that make it a valuable financial solution for the modern-day policy buyer. Here are some essential features of Max Life Smart Wealth Income Plan that you should know about:

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    1.Policy Continuance Benefit##

    While purchasing this plan, you can customise your protection cover by adding the Policy Continuance Benefit##. Your loved ones can be assured of financial security with this added benefit. It will provide your nominated beneficiary with a lump sum and the assurance that any remaining survival or maturity benefits will always reach them, without extra premium payments.

    Simply put, if the life insured suffers an untimely demise, the policy will continue as it is. For example, if you've paid 5 out of the due 15 years of Premium, and death occurs in the 6th year, we will pay the premiums for the remaining years, keeping all benefits intact.

    2. Multiple Variants Available

    There are options for Early Income, Early Income with Guaranteed~Money Back, and Deferred Income plans, as discussed. All these choices include built-in guarantees as well as cash bonuses. You can also add the Policy Continuance Benefit## to any of the variants to ensure that your family's financial security is never compromised.

    **This bonus will be payable, if declared.

    3. Deferment of Due Survival Benefit

    Max Life Smart Wealth Income Plan also has the option to accrue survival benefits and take them as per your need. You can choose to accrue your survival benefit payouts and withdraw as much as you like while earning interest over the accrued benefits and letting it grow.

    4. Enhanced Liquidity in your hands

    With the Early Income and Early Income with GMB variants, the customers start getting the survival benefits starting from the 2nd policy year, hence providing the customer with an option of liquidity if needed.

    5. Choice of Income Period

    As the policyholder, you have control over the choice of income period, including the whole life income option*. You can opt to receive income and avail of life cover till your preferred maturity age, which can be 100 years, 85 years, or 75 years of age.

    6. Optional Riders

    Other than the Policy Continuance Benefit## you can also add riders such as waiver of premium plus, accidental death & dismemberment rider, term plus rider, critical illness, and disability rider. They will help you enhance the benefits of the Max Life Smart Wealth Income Plan. *Refer to the rider prospectus for details.

    7. Special Discounts and Rebates

    Another distinguishing feature of the Max Life Smart Wealth Income Plan is the discounts offered to existing customers and female policyholders. The rebates are given on the premium rate and high sum assured. It helps customers gain financial security without putting a strain on their existing financial lives.

    Why Choose Smart Wealth Income Plan?

    The Smart Wealth Income Plan by Max Life comes with a unique set of benefits that makes it a favourable option for you as the policy buyer. Since financial needs are rapidly evolving, we need policies that can help us meet them and evolve accordingly. Choosing this plan gives you access to multiple innovative features such as:

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    1.Policy Continuance Benefit##

    This is one of the most impressive features of this policy that allows you to provide financial security to your loved ones even in your absence without having to pay the premiums in case of an unfortunate incident.

    2. Flexibility

    The choices available to you in terms of the policy term, premium payment term, and death benefit variants make this plan one of the most customer-friendly policies available today.

    3. Special Rebates and Discounts

    You are eligible to receive two types of discounts. First, a flat 2% discount on your first year's premium. Also, if you're a female life insured, you can get a 0.75% discount on all applicable premiums. If that wasn't enough, high Sum Assured rebates are up for grabs if you choose to opt for a policy with higher coverage amount!

    4. Long-Term Financial Support

    The minimum entry age of this policy is as low as 91 days, and it can cover the insured person for up to 100 years.

    It is vital for you to go through the details of the policy and understand which variant is best-suited to meet the requirements of your loved ones in the long term. Hence, make sure you assess your investments, debts, and other liabilities carefully before purchasing the Max Life Smart Wealth Income Plan.

    5. Bonus declared

    For Max Life Smart Wealth Income Plan we declared a participating bonus of 8% (as illustrated as below).

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    All you Need to Know about Smart Wealth Income Plan

    • Plan Benefits
      With the many income plans on the market, it can be tough to find one that meets your specific financial needs. To make things easier for you, we have outlined some of the benefits that you get when you choose the Max Life Smart Wealth Income Plan. Let's look at these:

      Your financial needs are never stagnant; they evolve during different phases of your life. For instance, a married person planning a family will have different financial priorities than someone nearing retirement age. Depending on when you invest in the Max Life Smart Wealth Income Plan, you can pick the most suitable variant of the policy and further customise it by selecting the right policy term, premium payment term and additional riders.

      The policy term of the Max Life Smart Wealth Income Plan can be extended up to 100 years, making it a whole-life option. Hence, you can rely on the plan to provide an alternate source of income for a long time, keeping you relieved of any financial stress.

      The Survival Benefits vary with your chosen plan variant. This plan gives you the flexibility to accrue your Survival Benefits - both the Guaranteed Income and the Cash bonus (if declared) anytime during the Policy Term. Also, you may select to withdraw your accrued benefits, completely or partially, at any time during the policy term.



      The survival benefits under each of the three key Plan Options are explained below:

      1. Early Income

      • Cash Bonus (% of Sum Assured on Maturity), if declared, from the 2nd Policy Year till the end of the Policy Term.
      • Guaranteed Income (% of Sum Assured on Maturity) from 2nd Policy Year and payable for a period of 25 years or till the end of the Policy Term, whichever is earlier.
      1. Early Income with Guaranteed Money Back

      • Cash Bonus (% of Sum Assured on Maturity), if declared, from 2nd Policy Year till the end of the Policy Term
      • Guaranteed Money Back (% of Sum Assured on Maturity) at the end of the Policy Years (PPT+1), (PPT+6) and (PPT+11).
      1. Deferred Income

      • Cash Bonus (% of Sum Assured on Maturity), if declared, starting policy year PPT +2 till the end of Policy Term; and
      • Guaranteed Income (% of Sum Assured on Maturity) starting policy year PPT+2 and payable for 25 years or till the end of Policy Term, whichever is earlier.
      where PPT is the chosen premium payment term.

      Guaranteed Income and Cash Bonus (if declared) shall be payable in arrears (i.e. end of the year for annual payout mode and end of each month for monthly payout mode) as per the chosen payout frequency. The Income payout frequency has to be chosen at inception, and the payout frequency options available are annual and monthly.</p>

      You receive a survival benefit at the end of the predetermined policy term in the form of the guaranteed sum assured at maturity and a terminal bonus (if any). Any accrued survival benefit, if not already paid, shall be paid in addition. Please refer to the section “Accrual of Survival Benefits” for related details.

      5.1. Without the Policy Continuance Benefit:

      If the Life Insured tragically passes away during the policy term, the Death Benefit equals:

      • Assured Sum upon death, plus
      • Terminal Bonus (if any)
      Any accrued survival benefit, if not already paid, shall be paid in addition.

      Please refer to the ‘Accrual of Survival Benefits’ section for related details.

      5.2. With the Policy Continuance Benefit:

      In the event of your death during the policy term, your nominee gets the following benefits:

      i) Death Benefit: The Death Benefit is equal to the Sum Assured on death. Any accrued survival benefit, if not already paid, shall be paid in addition to the death benefit. Please refer to the ‘Accrual of Survival Benefits’ section for related details.

      ii) Policy Continuance Benefit: All future Cash Bonus (if declared), Guaranteed Income, Guaranteed Money Back and Maturity Benefits (Sum Assured at Maturity plus Terminal Bonus) shall be payable as and when due in future without any need for the premium payment.

      The policy will participate in future profits (i.e. all future bonuses shall be payable under the policy). All future survival and maturity benefits shall be paid to the beneficiary as and when due, as would have been the case had the Life Insured been alive and would have been paying premiums.

      Here, ‘Sum Assured on Death’ is higher of:

      a. 11 times the (Annualised Premium plus extra underwriting premium, if any) or

      b. 105% of (Total Premiums Paid plus Underwriting Extra Premiums paid plus loadings for modal premiums received as on the date of death of Life Insured).

      As per the existing #*tax regulations under the Income Tax Act, 1961, you will be eligible for tax benefits against the premiums paid for Max Life Smart Wealth Income Plan.

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    Frequently Asked Questions (FAQs)

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    The minimum sum assured for this policy (with or without the Policy Continuance Benefit## ) is Rs. 5,00,000. There is no upper limit to the sum assured for this policy.

    In order to avail of the Policy Continuance Benefit##, the life insured and the policyholder need to be the same individual, and the chosen maturity age should be 75 or 85 years. This option is available at the inception of the policy under all plan options if you meet these criteria

    During the policy term, you may be eligible for bonuses, which are your share of the company's participation fund's profits. As a result, bonuses are not guaranteed and are based on the performance of the participating fund. The bonus rate is calculated as a percentage of the policy's 'Sum Assured on Maturity' and is announced at the end of every financial year.

    The free-look period under this policy refers to the 15-day period (30 days in case of electronic policies and policies obtained through Distance Marketing mode) after the purchase of the plan. During this time, you can review the terms and conditions of the policy and cancel it without any penalties, in case of any objections.

    You will be able to take out loans on the Max Life Smart Wealth Income Plan during the premium payment term once your policy has achieved a surrender value, with a maximum loan amount of 50% of the surrender value. The policy's minimum loan amount that can be issued at any moment is Rs. 10,000.

    ARN: PCP/SWIP/100323

    Disclaimers:

    *Applicable on choosing maturity age of 100 years

    ~The guaranteed benefits are applicable only if all due premiums are paid

    Cash bonuses will be payable if declared

    ## Policy Continuance benefit is available with all the 3 plan options with majority age of 60 years, 65 years, 70 years, 75 years and 85 years. This benefit is not available with maturity of 100 years

    &Guarantees are payable in the form of guaranteed income in case of Early income and Deferred income variants for a period of 25 years or till the end of policy term whichever is lower; and as 3 Guaranteed Money Backs at defined intervals in case of Early Income with Guaranteed Money Back variant

    1Annualised Premium means the Premium amount payable during a Policy Year chosen by Policyholder, excluding Underwriting Extra Premium, loading for modal premium, Rider Premiums and applicable taxes, cesses or levies if any.

    2Underwriting extra premium means an additional amount charged by Us, as per Underwriting Policy, which is determined on the basis of disclosures made by Policyholder in the Proposal Form or any other information received by Us including medical examination report of the Life Insured.

    3Total Premiums Paid means the total of all Premiums received, excluding Underwriting Extra Premium, loading for modal premium, Rider Premiums, and applicable taxes, cesses or levies, if any.

    Why Choose Max Life

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    99.34% Claims Paid Percentage

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

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    269 Offices

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

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    ₹1,174,515 Cr. Sum Assured

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

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    ₹1,07,510 Cr. Assets Managed

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

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    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:104N118V06). 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 Claim Paid Ratio as per audited financials for FY 2022-2023

    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 - 104N118V06)– 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:104N118V06)

    **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:104N118V06)

    ~~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:104N118V06)

    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.

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    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.

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    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).

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    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.

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    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.

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    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.

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    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.

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    Available with Max Life Smart Wealth Plan (UIN: 104N116V08)

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    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:104N118V06) 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:104N118V06) 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:104N118V06) 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:104N118V06) 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:104N118V06) 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.

     

    Disclaimer~*Standard premium for 24-year old healthy female,non-smoker, 25 years policy term, 25 year premium payment term (exclusive of GST) for Max Life Smart Secure Plus Plan (UIN:104N118V06)

    ~^Disclaimer: 15 year return (CAGR – Compound Annualised Growth Rate) from Max Life High Growth Fund (ULIF01311/02/08LIFEHIGHGR104) as on 30/06/2022| 2Nifty Midcap Free Float 100% (5-year return) | For more details on risk factors, terms and conditions and products offered.

    ^~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. The value of your policy depends on a number of factors including future investment performance. The amount shown is for a 30-year-old healthy male, with 10 years premium payment term, and 35 years policy term with Max Life Online Saving Plan (Unit Linked Non Participating Individual Life Insurance Plan | Life Insurance is available in this product).