Max Life Life Perfect Partner Super Plan

Marriages are special, and so is the new phase of sharing your life with your loved one. But, marriage also brings along its share of additional responsibilities and expenses. It is only natural that you want to lead a worry-free life with your partner. An insurance plan can help you fulfill those future needs and secure your partner’s life even in the case of eventualities.

 

Presenting one such retirement plan called, Max Life Life Perfect Partner Super Plan, which takes care of your partner’s financial needs with a life cover till you reach the age of 75 years. What more, it lets you live a carefree post-retirement life by offering 212.5% of guaranteed sum assured on maturity(through bonuses) to secure your golden years of retirement.

 

3 reasons you should buy this plan

  • Bear your expenses easily after retirement through guaranteed annual money-backs
  • Protect your wife’s future in case of eventualities with additional riders
  • Get life insurance coverage until the age of 75 years

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 Maturity Benefit

Amount payable at the end of the policy term

As the policyholder attains the age of 75 years or on the policy anniversary (whichever happens later), the following benefit shall be paid:
Guaranteed Maturity Sum Assured + Accrued Paid-up Additions (if any) + Terminal Bonus (if any)
where Guaranteed Maturity Sum Assured is the total guaranteed sum to be received at the end of the policy term
Accrued paid-up additions are any additional coverage provided by the company (if applicable)
Terminal bonus is the bonus to be received at the end of the policy term (if applicable)

Insert Image Death Benefit

Payable on the unfortunate event of death of the policyholder during the policy term

On death during the term of the policy, the following benefits will be paid:

  • Guaranteed Death Benefit, plus
  • Accrued Paid-Up Additions (if any), plus
  • Terminal Bonus (if any)

Guaranteed Death Benefit is the higher of:

  • 11 times the total annual premium* excluding taxes or cesses; or
  • 105% of all premiums paid by Policyholder as on the date of death of the Life Insured; or
  • Guaranteed Maturity Sum Assured chosen by the Policyholder at policy inception

The policy will terminate in case of the death of the Life Insured.

*This premium includes extra premium (if any) but excludes all applicable taxes, cesses and levies as imposed by the Government and any loadings for modal premiums and remains same irrespective of the premium payment mode.

Let’s consider different cases for a healthy male showing different premium rates and benefits (without including levies and taxes).

Bonus Option: Paid-up additions; no cash value of Paid-Up Additions has been withdrawn

Survival/Living Benefit: After successful completion of premium payment terms, below are the accrued benefits during his retirement years starting from the age of 61 years.

 

Scenario 1

Scenario 2

Scenario 3

Age of life insured

35 years

40 years

45 years

Premium Payment Term

20 years

15 years

10 years

Guaranteed Maturity Sum Assured

Rs. 5,00,000

Rs. 5,00,000

Rs. 5,00,000

Annualized Premium

Rs.34,025


Rs.50,915

Rs.82,81 5

Survival Benefit every year from 61 to 75 years

Rs.37,500

Rs.37,500

Rs.37,500

Maturity Benefit - Guaranteed

Rs. 5,00,000

Rs. 5,00,000

Rs. 5,00,000

Maturity Benefit (@4%)#

Rs. 8,85,828

Rs. 9,19,385

Rs. 8,30,135

Maturity Benefit (@8%)#

Rs. 31,67,259

Rs. 29,05,677

Rs. 23,61,020

#This includes Guaranteed Maturity Sum Assured along with non-guaranteed Accrued Paid Up Additions (if any) & Terminal Bonus (if any). Please note that the above assumed rates of return, 4% and 8% are only scenarios at these rates after recovering all applicable charges. These are not guaranteed and they are not the upper or lower limits of returns of the Fund Options elected in your policy, as the performance of the Funds is dependent on a number of factors including future investment performance. All applicable taxes, cesses and levies as imposed by the Government will be deducted from the premium received. is dependent on a number of factors including future investment performance. The actual experience on the contract may be different from the illustrated. The guaranteed and non-guaranteed benefits are applicable only if all due premiums are paid. The premiums mentioned above are exclusive of all applicable taxes, cesses, and levies as imposed by the Government. Please note that the Bonuses are NOT guaranteed and may be as declared by the Company from time to time.

Death Benefit: In the event of death, this plan offers increasing death benefit option which keeps growing through bonus option of paid-up additions. Refer to the below table to know value of death benefit at different age.

Age (in years)

Death Benefit (in Lakhs)

(Guaranteed death benefit and non-guaranteed bonuses) (BOY)

 @4%#

 @8%#

32

Rs. 9.60

Rs. 9.60

37

Rs. 10.06

Rs. 11.48

42

Rs. 12

Rs. 16.13

47

Rs. 13.19

Rs. 20.62

52

Rs. 16.47

Rs. 28.15

57

Rs. 17.28

Rs. 34.39

62

Rs. 18.14

Rs. 42.18

67

Rs. 19.05

Rs. 51.88

#Kindly note that the above are only illustrations and do not create any rights and obligations. The assumed non-guaranteed rates of return chosen in the above illustration are 4% and 8%. These assumed rates of return are not guaranteed. They are also not the actual upper or lower limits of what you might get back as the value of your policy is dependent on a number of factors including future investment performance. The actual experience on the contract may be different from the illustrated. The guaranteed and non-guaranteed benefits are applicable only if all due premiums are paid. The premiums mentioned above are exclusive of all applicable taxes, cesses, and levies as imposed by the Government. Please note that the Bonuses are NOT guaranteed and may be as declared by the Company from time to time.

#BOY - Beginning of Year

Note - For the example listed above, the Cash Value, Death Benefit, and Maturity Benefit will change (reduce) if the customer withdraws money from the policy (by surrendering Cash Value of PUA) anytime during the Policy Term.

Age at Entry and Maturity Age

 

Age at entry

(age as on last birthday)

 

Minimum Age at Entry   

Maximum Age at Entry 

91 days 

 

Premium Payment Term

(in years)

Maximum Entry Age      

(in years)

7 and 10 years

55 years

15 years

50 years

20 years

45 years

Maximum Maturity Age 

  75 years                           

Annual Premium

Minimum Premium        

 

Premium Payment Term 

(in years)

Minimum Premium

7 years

Rs. 20,000 per annum

10, 15 or 20 years

Rs. 8,500 per annum

 
Maximum Premium

No limit (subject to limits determined in accordance with the Board approved underwriting policy of the Company)

   Guaranteed Sum Assured
 

Minimum Sum

Rs. 50,000 (subject to minimum premium limits)

Maximum Sum

No limit (subject to limits determined in accordance with the Board approved underwriting policy of the Company)

Policy Term

Till the life insured reaches the age of 75 years

Premium Payment Term Options

7 years, 10 years, 15 years or 20 years

Premium Payment Frequency

Annual, Semi-annual, Quarterly or Monthly

Downloads  Actions  
Prospectus
 
Policy Contract

 
Leaflet

 
Premium Rates Table

 

Additional Benefits through Riders

Additional Benefits through Riders

Why Choose Max Life

Here are some of the numbers which speak about our accomplishments

Why Choose Max Life

Here are some of the numbers which speak about our accomplishments
Claims Paid Percentage

98.26%

98.26%

Individual death claims paid (Src: Max Life Public Disclosure FY 2017-18)

Max Life Presence

210 Offices

210 Offices

Src: Director's Report FY 2016-17

Sum Assured

₹511,541 Cr.

₹511,541 Cr.

In force (individual) Src: Public Disclosure, FY 2017-18

Assets Under Management

₹52,237 Cr.

₹52,237 Cr.

Src: Public Disclosure, FY 2017-18

More reasons why our customers choose us
See what our customers have to say about this plan
See what our customers have to say about this plan

Long time back, one of my friends met with a severe accident, which left the whole family devastated. My friend hadn’t done any financial planning, didn’t have any funds and couldn’t work for almost a year. His wife and family had to face a lot of financial strains at that time. This made me realize the need of buying a retirement plan for both of us so that my wife will never have to face financial issues due to any such emergency. Max Life Life Perfect Partner Super Plan seems to be the perfect one for my needs. Best retirement plan with both maturity and death benefits!

Rajesh Arora, 40 years

Bengaluru

Let’s Connect

Let’s Connect

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1860 120 5577
1800 200 3383 (Online Term Plan)

online@maxlifeinsurance.com
SMS 'LIFE' to 5616188

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service.helpdesk@maxlifeinsurance.com

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