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 on the death of the life insured and is defined as the higher of:

  • 10 times the Annualised Premium*,

  • 105% of all premiums paid 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 includes extra premium (if any).
#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 excluding extra premium (if any))

Total premiums paid for base policy refers to the total annualised premium paid under the policy.

In practice, an SSV will be paid to the policyholder which will always be higher than or equal to the GSV.

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 Pay 10

5 Pay 10

5 Pay 10

5 Pay 10

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. 163741.16

Rs. 239857.46

Rs. 342653.51

Rs. 523012.55

*Annualised Premium is defined as premium payable on an Annual Mode, including extra premium (if any) but excludes all applicable taxes, cesses and levies as imposed by the Government and any loadings for Modal Premiums. Annualised Premium remains same irrespective of the Premium Payment Mode. Kindly note that the above case studies are only examples and d 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

 

Only annual mode is available

 

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

Downloads Actions
Prospectus

Policy Contract

 
Premium Rates Table

 
Leaflet
 

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