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Life Insurance Coverage is available in this Product

Max Life POS Guaranteed Benefit Plan

Presenting Max Life POS Guaranteed Benefit Plan. A plan that’s easy-to-comprehend, hassle-free to buy and provides guaranteed benefit to ensure financial security for your Dreams.

Reasons you should buy this plan

1) Guaranteed Financial Protection Throughout The Policy Term: The product offers Guaranteed Maturity Benefit or Guaranteed Death Benefit:

    i. Maturity Benefit : Get Guaranteed lump sum benefit to meet your savings goals,  or

    ii. Death Benefit : Lump sum Death Benefit is paid immediately on death ensuring complete financial security for your loved ones.

2) Fixed Premium Payment Term and Policy Term:  A short and fixed Premium Payment Term and Policy Term helps you build a corpus for your dreams quickly, by saving systematically.

3) Easy Plan and Simple Process: Simple and Easy to understand plan which acts as a solution to your Insurance and savings needs

3 reasons you should get this plan:

  • Guaranteed Financial Protection Throughout The Policy Term
  • Short Premium Payment Term and Policy Term
  • Easy Plan and Simple Process

What do I get with this plan?

What do I get with this plan?

Here’s all you need to know about this plan

Here’s all you need to know about this plan

Insert Image Death Benefit

Payable on death of life insured

The lump sum ‘Death Benefit’ is payable immediately on the death of the life insured and is defined as the higher of:

  • 10 times the (Annualised Premium* plus underwriting extra premiums, if any),

  • 105% of Total Premiums Paid^ plus underwriting extra premiums  plus loadings for modal premium  as on the date of death of life insured,

  • Guaranteed Sum Assured at  Maturity

  • Any absolute amount assured to be paid on death#

*“Annualised Premium” means 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# Absolute amount assured to be paid on death is equal to zero under this product..

^“Total 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.

Underwriting 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.# Absolute amount assured to be paid on death is equal to zero under this product.

The maximum Death Benefit under this Plan is Rs. 9,90,000. 

The policy gets terminated after payment of Death Benefit.

Insert Image Maturity Benefit

Payable on the date of maturity

Maturity benefit is equal to Guaranteed Sum Assured at Maturity (GSAM). The policy gets terminated after the payment of maturity benefit.

Insert Image Surrender Benefit

Payable immediately on surrender

The policy can only be surrendered once it acquires a Guaranteed Surrender Value (GSV), .i.e., on payment of first two full year’s premium.

The surrender value will be equal to the higher of Guaranteed Surrender Value (GSV) or Special Surrender Value (SSV).  The GSV is defined as:-

GSV factor x (Total premiums paid for base policy plus loading for modal premium)

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

Insert Image Reduced Paid Up (RPU) Benefit

Once the policy has acquired a surrender value, in case of non-payment of due premiums till the expiry of the grace period, the policy will not lapse but will become Reduced Paid Up (RPU).

 

Example 1

Example 2

Example 3

Example 4

Age of Life Insured

35 yrs

35 yrs

35 yrs

35 yrs

Premium payment Term/ Policy Term

5 Years/10 Years

5 Years/10 Years

5 Years/10 Years

5 Years/10 Years

Annualized Premium*

Rs. 25,000

Rs. 35,000

Rs. 50,000

Rs. 75,000

Total Annualized premium

Rs. 1,25,000

Rs. 175,000

Rs. 2,50,000

Rs. 3,75,000

Guaranteed Sum Assured at Maturity

Rs. 1,72,070

Rs.  251,365

Rs.  382,497

Rs. 5,73,745

*Annualised Premium shall be the premium amount payable in a year chosen by the policyholder, excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any. Annualised Premium remains same irrespective of the Premium Payment Mode. Kindly note that the above case studies are only examples and do not in any way create any rights and / or obligations.

Coverage

All individuals

Age of the Life Insured at Entry

(age as on last birthday)

Minimum entry age   : 18 years

Maximum entry age  : 50 years

Maximum Maturity Age of the Life Insured

(age as on last birthday)

60 years

Premium Payment Term

5 years

Policy Term

10 years

Premium Payment Mode

 

The product allows annual and monthly premium paying modes. The modal factors are as follows:

POS Guaranteed Benefit Plan - Maxlife Insurance

 

Minimum Annual Premium

Rs. 15,000/-

Please note the minimum premium is exclusive of all applicable taxes, cesses and levies as imposed by the Government from time to time and extra premium (if any).

Maximum Annual Premium

Rs. 99,000/-

Please note that this amount is the sum of Annualised premium AND Underwriting Extra Premiums (if any) AND loadings for modal extra (if any), but is exclusive of all applicable taxes, cesses and levies as imposed by the Government from time to time. 

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Prospectus
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Policy Contract
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Premium Rates Table
Download - Maxlife Insurance
 
Leaflet Download - Maxlife Insurance
 

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

99.51%

99.51%

(Source: Individual Death Claim Paid Ratio as per Audited Financials for FY 2022-2023)

Max Life's Presence

269 Offices

269 Offices

(Source: As reported to IRDAI, FY 2022-23)

Sum Assured

₹1,397,142 Cr.

₹1,397,142 Cr.

In force (individual) (Source: Max Life Public Disclosure, FY 2022-23)

Assets Under Management

₹122,857 Cr.

₹122,857 Cr.

(Source: Max Life Public Disclosure, FY 2022-23)

More reasons why our customers choose us

Let’s Connect

Let’s Connect

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

service.helpdesk@maxlifeinsurance.com
SMS 'LIFE' to 5616188

Let us call you back
Customer Service Helpline
1860 120 5577
(9:00 AM to 6:00 PM Monday to Saturday)
  Chat with us

Please write to us in case of any escalation/feedback/queries.

Write to us
NRI Helpdesk
011-71025900; 011-61329950
(9:00 AM to 6:00 PM Monday to Saturday)

nri.helpdesk@maxlifeinsurance.com