Life Insurance Coverage is available in this Product

Max Life Savings Advantage Plan

In your life, you may have many goals for which you save money. These may be short term goals, or long term goals. To ensure that you meet these goals like buying a sedan, planning for childs education in an ivy college, planning for your daughter’s destination wedding you need a financial instrument that can systematically save and grow your money.

Presenting Max Life Savings Advantage Plan that will accelerate the growth in your systematic savings and help you build a corpus to address all your life goals while providing for insurance coverage at the same time to take care of your loved ones in case of an unfortunate event

Top reasons you should buy this plan

  • Flexibility to choose Premium Payment Term and Policy Term that matches your life goals
  • Get lumpsum amount on maturity that is partly guaranteed
  • Save tax under section 80 C and Section 10(10D) as per prevailing tax laws
  • Protection for your family through life insurance cover

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 Flexibility To Choose Premium Payment Term And Policy Term As Per Your Need

You have the flexibility to choose from various Premium Payment Terms & Policy Term as per your requirement, enabling  you to decide the period for which you wish to save and the time when you need monies to fulfil your particular life stage need.

Insert Image Guaranteed Additions

This plan provides you guaranteed 5.5% of Guaranteed Sum Assured on Maturity as Guaranteed Additions, at the end of each policy year, for first 5 policy years, to boost your benefits.

Insert Image Death Benefit That Increases Post 10 Policy Years

In case of death of the life insured on or before completion of 10 policy years, Guaranteed Death Benefit along with accrued Guaranteed Additions, Paid Up Additions (if any) & Terminal Bonus (if any) shall be payable. 

In case of death of the life insured after 10 policy years, 110% of Guaranteed Death Benefit along with accrued Guaranteed Additions, Paid Up Additions (if any) & Terminal Bonus (if any) shall be payable.

Insert Image Maturity Benefit

You enjoy 110% of Guaranteed Sum Assured on Maturity along with Accrued Guaranteed Additions, Accrued Paid Up Additions (if any) and Terminal Bonus (if any).

Insert Image Settlement and Commutation Benefit

You or your nominee, have the flexibility to convert the lump sum Maturity Benefit/Death Benefit into regular income (monthly or annual mode) for 10 years basis your requirement. 

Insert Image Tax Benefit

You may be entitled to certain applicable tax benefits under section 80(C) and section 10(10D) of Income Tax Act 1961 on the premiums paid and benefits received by you respectively as per the prevailing tax laws. It is advisable to seek an independent tax advice.

Mr. Bajaj, aged 35 years, pays a premium of Rs. 50,000 in Max Life Savings Advantage Plan on an annual mode. He opts for 10 year Premium Payment Term & 20 year Policy Term. His GSAM is Rs. 4,55,000. Let's see how this plan would work for him:

Scenario 1: Mr. Bajaj survives through the Policy Term

*Important Notes
1. Kindly note that the above case studies are only examples and do not in any way create any rights and/or obligations. The actual experience of the policy may be different from what is shown above. The above scenarios are depicted at assumed rate of returns with 4% and 8% and these are not the upper or lower limits of what one can expect from this policy, as it is dependent on number of factors including future investment performance.The guaranteed and non-guaranteed benefits are applicable only if all due premiums are paid.
2. You may be entitled to certain applicable tax benefits on your premiums and Policy benefits. Please note that 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 change in tax laws. It is advisable to seek an independent tax advice.
3. Bonuses are non-guaranteed and are declared at the sole discretion of the Company. For more information, please request for your Policy specific benefit illustration.

Scenario 2: Mr. Bajaj meets with an accident and dies in the 6th policy year:

*Important Notes
1. Kindly note that the above case studies are only examples and do not in any way create any rights and/or obligations. The actual experience of the policy may be different from what is shown above. The above scenarios are depicted at assumed rate of returns with 4% and 8% and these are not the upper or lower limits of what one can expect from this policy, as it is dependent on number of factors including future investment performance. The guaranteed and non-guaranteed benefits are applicable only if all due premiums are paid.
2. You may be entitled to certain applicable tax benefits on your premiums and Policy benefits. Please note that 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 change in tax laws. It is advisable to seek an independent tax advice
3. Bonuses are non-guaranteed and are declared at the sole discretion of the Company.

Age of the Life Insured at Entry (age as on last birthday)

Minimum
Single Pay : 8 years
Limited/Regular Pay : 0 years (91 days at the time of applying for this plan)
Where the Life Insured is a minor in such a case the proposer should be either parent or legal guardian and must have insurable interest on the life of the minor. The risk coverage for minors will commence from the inception of the policy. Where the Policy has been issued on the life of a minor, the Policy will automatically vest on him on his attaining majority

Maximum
Single Pay : 65 years
Limited Pay : 55 years
Regular Pay : 45 years


Maturity Age of the Life Insured (age as on last birthday)

Minimum
18 years

Maximum
Single Pay : 75 years
Limited Pay : 80 years
Regular Pay : 65 years

Premium Payment Term (PPT)

Single Pay
Limited Pay: 5 to 12 years
Regular Pay

Policy Term (PT)

Single Pay : 10 years
Limited Pay : 10 to 30 years subject to Policy Term being greater than or equal to Premium Payment Term plus 5 years
Regular Pay : 20 to 30 years

Minimum Annual Premium

Single Pay variant: The minimum premium is Rs. 1,00,000.

Limited Pay and Regular Pay variant: The minimum premium varies as per Policy Term and premium payment mode and is shown in table below:

Premium Payment
 Mode

Policy Term
less than 15 years

Policy Term
greater than or equal to 15 years

Annual

Rs. 50,000

Rs. 8,500

Semi-annual

Rs. 27,500

Rs. 6,000

Quarterly

Rs. 15,000

Rs. 4,000

Monthly

Rs. 5,250

Rs. 1,500


The minimum premium is exclusive of any applicable tax, cesses and levies, modal extra and extra premium (if any).

Maximum Annual Premium

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

Downloads Actions
Premium Rates Table

Leaflet

Prospectus

Policy Contract

Additional Benefits through Riders

Additional Benefits through Riders

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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