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Max LIfe Fast Track Super

Life is full of uncertainties and finances are not an exception. Keeping money in a savings account seems to be the simplest and safest option, but this approach can restrain us from getting a good return.

Max Life Fast Track Super Plan is one such plan that aims to provide insurance options with a simplistic and safe approach to invest in the market with multiple fund options.

 

3 reasons you should get this plan

  • Achieve long-term goals while securing your future through a single plan
  • Enjoy market-linked returns by investing in any of the 6 fund options
  • Get additional loyalty rewards for staying invested

What do I get with this plan?

What do I get with this plan?

6 Fund Options

You get flexibility to invest in any of the 6 different fund options based on your risk appetite with 12 free fund switches allowed in a year

Withdrawal Flexibility

You can make 2 free partial withdrawals every year once the lock-in period (5 yrs) is over.

Tax Benefits

You receive tax benefits on your premiums based on the prevailing government norms.

 

Maturity Benefit

You have options to receive the total value of the fund on maturity in lumpsum or monthly installments paid over 5 year period post maturity

Death Benefit

In case of death of life insured, the higher of life cover or total Fund Value (as on the Date of Death), subject to a minimum of 105% of all premiums paid is paid to the nominee

Guaranteed Loyalty Additions

Get additional benefits as 0.30% of Fund Value added to your fund by the creation of additional units, starting from 11th policy year.

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 Fast Track Super is a Unit-linked plan, your maturity amount will be equal to the total value of the policy, called as fund value* on the date when your policy matures. Further, instead of receiving this amount as a lump sum, you can also choose to convert it into a monthly income under the settlement option.

Insert Image Death Benefit

Amount payable on the death of the policyholder

In the event of the death of the person insured; the nominee will receive the highest of the following sums:

1. Sum Assured

2. Fund Value (as on the Date of Death)

3. 105% of all premiums paid

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 exemptions

Insert Image Different Life Cover Values

You can achieve your financial goals with different life cover options available under this policy

We have fixed, minimum, and maximum sum assured (life cover) values depending on the Policy Term (10 or 20 years) and Premium Payment Term, which you can choose according to your convenience and needs. The following table lists these values:

 

Fixed Sum Assured

 Single Pay**

1.25 times Single Premium

5 Pay**

10 times Annualized Premium

Regular Pay**

10 times Annualized Premium

Minimum Fixed Sum Assured

Single Pay

Rs. 125,000

5 Pay

Rs. 500,000

Regular Pay

Rs. 250,000

Maximum Fixed Sum Assured

No Limit, subject to underwriting

Insert Image Guaranteed Loyalty Additions

Additional benefits paid annually in the form of units starting from 11th policy year

If you choose the Regular Pay option for premium payment, 0.30% of Fund Value shall be added to your fund by the creation of additional units, at the end of every policy year starting from 11th policy year. The loyalty additions increase by 0.02% (absolute) each year thereafter. The additional units shall be created in different funds in proportion of Fund Value at the time of credit. In case of revival of policies, the loyalty additions for previous years will be paid based on the Fund Value prevailing at the revival date.

*Fund Value = Summation of [Accumulated Units in Fund(s) x NAV of respective Fund(s) as on the Maturity Date]

Note: In case the Maturity Date is a non-working day for the Company or markets then next working day’s NAV will be applicable.

NAV (Net Asset Value) of a ULIP is the total value of its holdings in the market on any given day (it is calculated on daily basis). The value of NAV is dependent on the value of the fund. As the value of fund changes according to market conditions, the NAV value changes. You can check your fund and NAV performance here.

**Single Pay, 5 Pay, Regular Pay - are the three Premium Payment Term (the period for which you will invest in this policy) options available under this policy. More details are available under the Premium Payment Options.

Let’s look at some examples - Below mentioned premium rates and benefits are assumed for a Standard Life, Male

 

Scenario

Example 1

Example 2

Example 3

Age of Life Insured (years)

35

35

35

Premium Payment Term (years)

1

5

20

Policy Term (years)

10

10

20

Annualised Premium

Rs. 150,000

Rs. 75,000

Rs. 40,000

Maturity Value (@4%)*

Rs. 171,107

Rs. 386,734

Rs. 998,765

Maturity Value (@8%)*

Rs. 253,651

Rs. 534,657

Rs. 1,573,007

 

*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 Funds selected in your policy, as the performance of the Funds is dependent on a number of factors including future investment performance.

 

Age at Entry (Age as on last birthday)

Minimum Entry Age

18 years

Maximum Entry Age - 5 Pay and Single Pay

60 years

Maximum Entry Age -  Regular Pay

50 years

Maximum Maturity Age (Age as on last birthday)

70 years

Below are the different fund options available for investment:

Fund Name

Nature of Fund

Government

Securities

Corporate

Bonds

Money Market

& Cash Instruments

Equity & Equity

related securities

Risk Rating

High Growth Fund

(SFIN: ULIF01311/02/08LIFEHIGHGR104)

An open ended equity
multicap fund with focus on midcaps

0%-30%

0%-30%

0%-30%

70%-100%

Very High

Growth Super Fund

(SFIN: ULIF01108/02/

07LIFEGRWSUP104)

An open ended equity fund
with focus on large caps

0%-20%

0%-20%

0%-30%

70%-100%

High

Growth Fund

(SFIN: ULIF00125/06/

04LIFEGROWTH104)

An open ended hybrid fund with equity portion
focused on large caps

0%-30%

0%-30%

0%-40%

20%-70%

High

Balanced Fund

(SFIN: ULIF00225/06/

04LIFEBALANC104)

An open ended hybrid fund investing in a mixture
of debt instruments and equities

20%-50%

20%-40%

0%-40%

10%-40%

Medium

Conservative Fund

(SFIN: ULIF00325/06/

04LIFECONSER104)

An open ended hybrid fund investing
predominantly in debt instruments

50-80%

0-50%

0-40%

0%-15%

Low

Secure Fund (SFIN: ULIF00425/06/

04LIFESECURE104)

An open ended debt fund
which invests across duration

50-100%

0-50%

0-40%

Nil

Low

Secure Plus Fund (SFIN: ULIF01628/04/

09LIFESECPLS104)

(Available with Systematic Transfer Plan only)

An open ended debt fund
which invests across duration

60-100%

0-40%

0-40%

Nil

Low

You can use any of these two investment strategies:

Systematic  Transfer Plan

    

An investment strategy that helps you regularly transfer a fixed or variable part of your invested amount into other funds.
Under this option, your total annual premium (excluding any tax)  or Single Premium shall be allocated first to the ‘Secure Plus Fund’ to purchase Units. Immediately thereafter and on each subsequent monthly anniversary, Fund Value of [1 / (13 - month number in the policy year)] of the Units available at the beginning of the month shall be switched to “Growth Super Fund” automatically by canceling Units in the Secure Plus Fund, and purchasing Units in the Growth Super Fund. It is available with Single Pay and Annual Premium Payment Mode in 5 Pay and Regular Pay.

Dynamic Fund Allocation

    

An investment strategy that invests in equity oriented funds in earlier part of the policy term and later shifts to funds with lower risks (also called conservative funds) as the policy term progresses. You can opt for Dynamic Fund Allocation option only at the inception of policy.
Under this option, the total market value of your assets (also referred as Assets Under Management) shall be maintained between Growth Super Fund and Secure Fund in a predefined proportion that changes depending upon the years left to maturity.

Single Pay, 5 Pay, Regular Pay - are the three Premium Payment Term (the period for which you will invest in this policy) options available under this policy. The policy will remain in force for 10 years or 20 years depending on the option you choose. Further, within the premium payment term, you can choose to pay on Annual, Semi-annual, Quarterly, and Monthly basis.

Premium

Payment Term

Policy

Term

Minimum

Annualized Premium

Maximum

Annualized Premium

Single Pay

10 Years

Rs. 1,00,000

No Limit, subject to underwriting,

as per the Board approved
underwriting policy of the company

5 Pay

10 Years

Rs. 50, 000

Regular Pay

20 Years

Rs. 25, 000
Downloads    Actions    
Prospectus
  
   
Leaflet  
   
Policy Contract  
   
Premium Rates Table  
   

"Most of the people choose ULIP plans for long-term savings."

Understand ULIP Plans more

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 customers have to say about this plan
See what customers have to say about this plan

I had already invested in a Max Life child plan which had an investment component. After this investment, I got more curious about ULIP plans and opted for Fast Track Super Plan. I must say there were many occasions where I was unable to understand certain policy details. However, Max Life agents are very helpful and are always available to clear my doubts. I think Max Life ULIPs are the best way to save and grow your money.

Mr. Mohapatra, 29 years

Vizag

I got into my family business even before I could complete my graduation. However, we always used to have huge cash surplus which wasn’t being utilized properly. Since then I have invested this money across share markets and mutual funds. However, I also found Max Life ULIP products highly lucrative in terms of long term returns. There’s life insurance too, which I think is an added bonus. The charges are very competitive, and I would recommend Max Life ULIP plans to anyone new to the investment market.

Mr. Aggarwal, 32 years

Jaipur

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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1860 120 5577

service.helpdesk@maxlifeinsurance.com

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0124 - 5071300; 6477000

nri.helpdesk@maxlifeinsurance.com