Max Life Life Gain Premier

Most of us often get stuck in a relentless routine juggling business and personal commitments at the same time. This lifestyle leaves little time for us to think about the future and plan well for our family’s financial security. Savings plans provide a smart way to address this need for financial planning.

 

Max Life Gain Premier provides you long-term life coverage with the flexibility to choose between multiple premium payment terms. Depending on your family’s needs, you can enhance policy benefits with riders. Moreover, you can withdraw some money from this fund to meet any urgent requirement.  

 

3 reasons you should buy this plan

  • You will get Guaranteed Sum Assured on maturity of the policy
  • You get the flexibility to choose both the Premium Payment Term & the Policy Term
  • You can withdraw money to meet any urgent requirement

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

On completion of the policy term you will get a guaranteed payout along with applicable bonuses as the Maturity Benefit.

Maturity Benefit = Guaranteed Maturity Sum Assured + Accrued Paid Up Additions (PUA, if any) + Terminal Bonus (if any)

Guaranteed Maturity Sum Assured is the amount chosen by you at the time of policy inception and has following limits:

Minimum

Maximum

Rs. 50,000

(subject to minimum premium limits)

No Limit

(subject to limits determined by the Board approved underwriting policy of the company)

Accrued Paid Up Additions (PUA) are the bonus payouts payable in case you choose the PUA mode for receiving annual bonuses announced by Max Life Insurance (explained under Bonus Payout Options).

Terminal Bonus is an additional bonus paid only once, on earlier of Death, Surrender or Maturity, provided the policy is in force for at least 10 years.

Insert Image Death Benefit

On death during the policy term, your nominee will receive a guaranteed payout along with applicable bonuses as the Death Benefit and the policy will terminate.

Death Benefit = Guaranteed Death Benefit + Accrued Paid-Up Additions (if any) + Terminal Bonus (if any)

Guaranteed Death Benefit is the highest among the following:

  • 11 times the Annualized Premium*
  • 105% of all premiums paid by Policyholder as on the date of Death of the Life Insured
  • Guaranteed Maturity Sum Assured chosen by the Policyholder at policy Inception

Accrued Paid Up Additions (PUA) are the bonus payouts payable in case you choose the PUA mode for receiving annual bonuses announced by Max Life Insurance (explained under Bonus Payout Options).

Terminal Bonus is an additional bonus paid only once, on earlier of Death, Surrender or Maturity, provided the policy is in force for at least 10 years.

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

Insert Image Bonus Payout Options

You have the option to receive the annual cash bonus announced by Max Life Insurance in three different ways depending on your needs.

You can choose to receive bonuses in the form of:

  • Cash: You can receive the annual bonus in cash as and when declared by the company.
  • Premium Offset - You can use the accumulated cash bonus to pay your future premiums.
  • Paid Up Additions (PUA) - You can use your bonus amount to purchase Paid Up Additions (PUA). Buying these PUA increase the policy’s cash value thereby increasing the living and death benefits under the policy. PUA are payable in full on Maturity of the policy. Also, these PUA will earn further bonuses to increase the value of the policy. In case of surrender, Surrender Value of the PUA will be paid to the Policyholder.

Insert Image Terminal Illness Benefit

In case of any terminal illness, 50% of the Guaranteed Maturity Sum Assured is paid immediately upon policyholder’s request

In case the Life Insured is found to be suffering from a disease that is likely to lead to the Death of the Life Insured within 6 months of diagnosis in the opinion of a Registered Medical Practitioner and the concurrence of Company’s appointed doctor, the Company will advance 50% of the Guaranteed Maturity Sum Assured (up to maximum of Rs. 10 Lakhs across all policies which provide this benefit) immediately upon Policyholder’s request.

Insert Image Tax Benefit

Get tax benefits under Section 80C, 80D, 80DD, 10(10D) as per prevailing tax laws.

You may be entitled to certain applicable tax benefits on your premiums and policy benefits; however, you are advised to check prevailing government norms for determining your tax exemptions1.

Let us look at some examples - Below mentioned premium rates and benefits are assumed for a healthy male (without loading, levies, cesses and taxes). This is assuming that premium has been paid for entire Premium Payment Term, Bonus Option chosen is Paid Up Additions and no cash value of Paid Up Additions has been withdrawn.

 

 

Example 1

Example 2

Example 3

Age of Life Insured

35 years

35 years

35 years

Premium Payment Term / Policy Term

10 pay / 20 years

8 pay / 20 years

8 pay / 15 years

Annualised Premium

Rs. 35,000

Rs. 40,000

Rs. 50,000

Guaranteed Maturity Sum Assured

Rs. 4,17,163

Rs. 3,88,236

Rs. 5,13,769

Maturity Benefit - Guaranteed

Rs. 4,17,163

Rs. 3,88,236

Rs. 5,13,769

Maturity Benefit (at 4% )**

Rs. 4,78,024

Rs. 4,49,785

Rs. 5,13,769

Maturity Benefit (at 8% )**

Rs. 7,54,139

Rs. 7,35,754

Rs. 7,21,738

**This includes Guaranteed Maturity Sum Assured along with non - guaranteed accrued Paid - Up Additions and Terminal Bonus. Kindly note that the example above are only an illustration and does not create any rights and / or obligations. The assumed non - guaranteed rates of return chosen in the above illustrations are 4% and 8%. These assumed rates of returns are not guaranteed and they are not the 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 Bonuses are NOT guaranteed and may be as declared by the Company from time to time.

 

Entry Ages (Age as on Last Birthday)

Minimum Age: 18 years

Maximum Age: 55 years for 15/20 year Policy Term,

50 years for 25 year Policy Term

Maximum Maturity Age

For 15 years Policy Term: 70 years

For 20 years and 25 years Policy Term: 75 years

Policy Terms

15 years, 20 years and 25 years

Premium Payment Term

 

Policy Term     

(in years)

Premium Payment Term

(in years)

15

6 / 8

20

6 / 8 / 10

25

12


Premium Payment Options

Annual, Semi-Annual, Quarterly & Monthly

Minimum Premiums available for various modes are:

Premium Payment Mode

Minimum Premium Allowed

Annual

Rs. 8,500

Semi-Annual

Rs. 6,000

Quarterly

Rs. 4,000

Monthly

Rs. 1,500

 

The minimum premium is exclusive of all applicable taxes, cesses, and levies as imposed by the Government.

Guaranteed Maturity Sum

Assured

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

Maximum - No limit, subject to limits determined in accordance with the Board approved underwriting policy of the Company

Downloads  Actions  
Policy Prospectus

 
Policy Contract

 
Leaflet

 
Premium Rates

 

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

Let’s Connect

Let’s Connect

Buy an Insurance Plan
1860 120 5577
1800 200 3383 (Online Term Plan)

online@maxlifeinsurance.com
SMS 'LIFE' to 5616188

Let us call you back
Customer Service
1860 120 5577

service.helpdesk@maxlifeinsurance.com

Write to us
NRI Helpdesk
0124 - 5071300; 6477000

nri.helpdesk@maxlifeinsurance.com