Max Life Maxis Super Plan

Max Life Maxis Super Plan is a Unit Linked Insurance plan with dual benefit of wealth maximization and life insurance coverage under a single plan

4.8^~ Rated
7.7 Crore Registered Consumer
50 Partners Insurance Partners
4.2 Crore Policies Sold

ULIP Plans

Plan starting from ₹1,000/month
Save upto ₹46,800 in Tax under section 80C^{^}
Zero LTCG Tax^¶
In built life cover

Top performing plans with High Returns^**

Invest ₹10K/month & Get ₹1 Crore^# on Maturity

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We are rated^~

7.7 Crore

Registered Consumer

Insurance Partners

4.2 Crore

Policies Sold

Disclaimer: #The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CAGR 8%; ₹50,45,591 @ CAGR 4%. *Tax benefits and savings are subject to changes in tax laws. All plans listed here are of insurance companies’ funds.

Key Features

It is a ULIP plan with Limited Pay option of premium payment
11, 15 or 20 times the annual premium can be chosen as the Sum Assured as per requirement based on the age of the insured
There is a Dynamic Fund Allocation option, under which the funds are initially maintained in Growth Super Fund and gradually transferred to Secure Fund towards policy maturity.
This option maintains a specified ratio of fund value in Growth Super and Secure Fund which changes with increasing policy term
The following funds are available for investment
- Growth Super Fund
- Growth Fund
- Balanced Fund
- Conservative Fund
- Secure Fund

Benefits

The insured will get the total Fund Value on Maturity which can be taken in instalments over a period of 5 years through the Settlement Option
On death of the policyholder, Sum Assured + Fund Value subject to a minimum of 105% of all premiums paid till death is payable
Income tax benefit on the premium paid as per Section 80C and on claims under Section 10(10D) of the Income Tax Act.

Product Specification:

	Minimum	Maximum
Entry Age (Last Birthday)	18 years	55 years
Maturity Age (Last Birthday)	-	70 years
Policy Term (PT) in years	15
Premium Paying Term (PPT) in years	7 Pay or 10 Pay
Yearly Premium	35,000	No limit
Premium Payment Frequency	Annual
Sum Assured	385,000	No limit

Details About Premium

Annual Premium in Rupees and Benefit Illustration for a term and PPT of 20 years

Age (years)	Premium	7 Pay		10 Pay
Age (years)	Premium	Fund Value @ 4%	Fund Value @ 8%	Fund Value @ 4%	Fund Value @ 8%
30	50,000	404,020	654,631	580,654	884,937
35	75,000	591,628	963,874	856,579	13,09,333

Policy Details

Grace Period: 30 days grace is allowed for premium payment after which the policy lapses
Policy Termination or Surrender Benefit: Policyholder is allowed to surrender the policy after 5 completed years. If surrendered before 5 years, the fund value net of discontinuation charge will be credited to the Linked Discontinued Policy Fund where it will earn a minimum of 4% p.a. growth. After completion of 5 years, the fund value in the Discontinued Policy fund as on that date will be paid to the policyholder. If surrendered after 5 completed policy years, the entire Fund value on the date of surrender is paid without any charges
Free Look Period: If you would not be pleased with the coverage, and terms and conditions of the policy, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there has been no claim.

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Inclusions

2 free Partial withdrawals are allowed every year after 5 completed policy years with a minimum value of Rs.5,000
12 free Switches are allowed every year for switching between funds
6 free Premium Redirections are allowed every year for redirecting future premiums into another fund

Exclusions

The benefit paid in case of suicide within 12 months of policy inception or revival is the fund value as on that date.

Documents Required

Policyholder has to fill up an ‘Application form/ proposal form’ with accurate medical history and submit KYC documents.

†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Please note that the quotes shown will be from our partners
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ