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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
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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

 

*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

*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

91 days

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

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
   Download - Maxlife Insurance
    
Leaflet   Download - Maxlife Insurance
    
Policy Contract   Download - Maxlife Insurance
    
Premium Rates Table   Download - Maxlife Insurance
    

Additional Benefits Through Riders

Additional Benefits Through Riders

Max Life Critical Illness and Disability- Secure Rider (UIN: 104A034V01)

Max Life brings a comprehensive insurance plan that covers up to 64 critical illnesses along with total and permanent disability coverage. You can choose the best variant for you from the five available variants. You will be also be eligible for a discounted renewal premium based on the number of steps monitored on Max fit app. You can even choose to get a cover up to age 85 years. (For further details, please refer to Max Life Critical Illness and Disability - Secure Rider, UIN – 104A034V01, prospectus/brochure

Downloads

Fund options and their performances

Below are different funds available for investment

Fund options and their performances

Below are different funds available for investment
High Growth Fund
(SFIN: ULIF01311/02/08LIFEHIGHGR104)

Investment Group: Equity

Fund Returns
16.56%
Benchmark* Returns
9.85%
*(Nifty MidCap Free Float 100%)
Nature of Fund
An open ended equity multicap fund with focus on midcaps
Investment Strategy
The fund is a multi-cap fund with a focus on mid cap equities, where predominant investments are equities of companies with high growth potential in the long term (to target high growth in capital value assets). At least 70% of the Fund corpus is invested in equities at all times. However, the remaining is invested in government securities, corporate bonds and money market instruments; hence the risk involved is relatively higher.
Secure Plus Fund
(SFIN: ULIF01628/04/09LIFESECPLS104

Investment Group: Debt

Fund Returns
6.75%
Benchmark* Returns
7.45%
*(CRISIL Bond Index 100%)
Nature of Fund
An open ended debt fund which invests across duration with bias towards government securities
Investment Strategy
(This Fund is available only under Systematic Transfer Plan (STP), Lifecycle Based Portfolio and Trigger Based Portfolio strategy) .The investment objective of the Fund is to provide higher security of investment by way of higher proportion of investment in sovereign papers that carry an implicit guarantee for repayment of principal and interest from the Government of India. This Fund invests in debt instruments such as Government Securities, Corporate Bonds, Money Market Instruments etc. issued primarily by Government of India/State Governments, Corporate and banks. The Fund also invests in money market instruments as prescribed by IRDAI. No investment is made in equities.
Growth Super Fund
(SFIN: ULIF01108/02/07LIFEGRWSUP104)

Investment Group: Equity

Fund Returns
12.74%
Benchmark* Returns
12.94%
*(NSE Nifty 100%)
Nature of Fund
An open ended equity fund with focus on large caps
Investment Strategy
This is primarily an equity oriented fund. At least 70% of the Fund corpus is invested in equities at all times. The remaining is invested in debt instruments across Government, corporate and money market papers.
Growth Fund
(SFIN: ULIF00125/06/04LIFEGROWTH104)

Investment Group: Equity

Fund Returns
8.97%
Benchmark* Returns
10.72%
*(Crisil Bond Index 50% and NSE Nifty 50%)
Nature of Fund
An open ended hybrid fund with equity portion
focused on large caps
Investment Strategy
This fund invests in various asset classes such as Equities, Government Securities, Corporate Bonds and Money Market Instruments. The equities exposure in the Fund will at all times be at a minimum of 20% but not more than 70%. The Fund invests the remaining Fund corpus in debt instruments across Government, corporate and money market papers.
Balanced Fund
(SFIN:  ULIF00225/06/04LIFEBALANC104)

Investment Group: Balanced

Fund Returns
7.97%
Benchmark* Returns
9.43%
*(Crisil Bond Index 70% and NSE Nifty 30%)
Nature of Fund
An open ended hybrid fund investing in a mixture of debt instruments and equities
Investment Strategy
This fund invests primarily in debt instruments such as Government Securities, Corporate Bonds, Money Market Instruments etc. issued primarily by Government of India/State Governments and to some extent in Corporate Bonds and Money Market Instruments. The Fund invests minimum of 10% and up to maximum of 40% of Fund corpus in equities.
Conservative Fund
(SFIN: ULIF00325/06/04LIFECONSER104)

Investment Group: Debt

Fund Returns
6.51%
Benchmark* Returns
8.15%
*(Crisil Bond Index 90% and NSE Nifty 10%)
Nature of Fund
An open ended hybrid fund investing predominantly in debt instruments
Investment Strategy
Conservative Fund invests primarily in debt instruments such as Government Securities, Corporate Bonds, Money Market Instruments etc. issued primarily by Government of India/State Governments and to some extent in Corporate Bonds and Money Market Instruments. The Fund invests up to 15% of Fund corpus in equities
Secure Fund
(SFIN: ULIF00425/06/04LIFESECURE104)

Investment Group: Debt

Fund Returns
6.16%
Benchmark* Returns
7.43%
*(CRISIL Bond Index 100%)
Nature of Fund
An open ended debt fund which invests across duration
Investment Strategy
This fund invests in debt instruments such as Government Securities, Corporate Bonds, Money Market Instruments etc. issued primarily by Government of India/State Governments, Corporate and banks. The Fund also invests in money market instruments as prescribed by IRDAI. No investment is made in equities.

Note: Returns are 5 year compounded annualised growth rate (CAGR). Past performance is not indicative of future performance. Star rating is Overall Rating. Rating and returns are as on 30th April, 2022.

In the unit linked insurance policies, investment risk in the investment portfolio is borne by the policy holder. Past performance is not necessarily indicative of future performance. The linked insurance products do not offer any liquidity during the first five years of the contract the policyholder will not be able to surrender/withdraw the monies invested in linked insurance products completely or partially till the end of fifth year. Returns are 5 year compounded annualised growth rate (CAGR). Rating and returns are as on 31st Oct, 2021.

© 2020 Morningstar. All Rights Reserved. The information, data, analyses and opinions (“Information”) contained herein: (1) include the proprietary information of Morningstar and its content providers; (2) may not be copied or redistributed except as specifically authorised; (3) do not constitute investment advice; (4) are provided solely for informational purposes; (5) are not warranted to be complete, accurate or timely; and (6) may be drawn from fund data published on various dates. Morningstar is not responsible for any trading decisions, damages or other losses related to the Information or its use. Please verify all of the Information before using it and don’t make any investment decision except upon the advice of a professional financial adviser. Past performance is no guarantee of future results. The value and income derived from investments may go down as well as up.

The ‘Morningstar Overall Rating’ is a quantitative assessment of a fund’s past performance—both return and risk—as measured from one to five stars, with one (1) being the lowest and five (5) being the best as on 31st Oct, 2021.

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.

"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

99.35%

99.35%

(Source : Max life annual audited financials FY 20-21)

Max Life Presence

277 Offices

277 Offices

(Source : As reported to IRDAI, FY 20-21)

Sum Assured

₹1,087,987 Cr.

₹1,087,987 Cr.

In force (individual) (Source : Max Life Public disclosure, FY 20-21)

Assets Under Management

₹1,00,000 Cr.

₹1,00,000 Cr.

(Source : Max Life Public disclosure, FY 20-21)

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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 (09:00 AM to 09:00 PM Monday to Saturday)

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SMS 'LIFE' to 5616188

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011-71025900; 011-61329950
(9:00 AM to 6:00 PM Monday to Saturday)

nri.helpdesk@maxlifeinsurance.com