Max Life Monthly Income Advantage Plan

Policy Terms for the Max Life Monthly Income Advantage Plan:

Premium Payments Offered by the Max Life Monthly Income Advantage Plan:

Key Features of Max Life Monthly Income Advantage Plan:

What you should know about by Max Life Monthly Income Advantage Plan:

1. The insured person can pay the premiums regularly using the following options -
   1. Annually
   2. Half - Yearly
   3. Quarterly
   4. Monthly
2. The premium payment mode can be changed anytime during the policy term.
3. Risk coverage will be active throughout the income benefit period of 10 years.
4. All the benefits and premium rates are the same for male and female.
5. All the benefits and premium rates are uni-smoker.
6. Guaranteed surrender value is credited on completion of 3 years of the policy.
7. The formula used to calculate Base guaranteed surrender value is guaranteed surrender value of base+guaranteed surrender value of accrued compound reversionary bonus if any.
8. One can also choose to pay a Single Premium.
9. Monthly income payable is one twelfth of 10% of the assured sum amount.

Advantages and Benefits of Max Life Monthly Income Advantage Plan:

The features and benefits of the are as follows:

Guaranteed regular monthly income:

After completion of the premium payment term, Max Life Monthly Income Advantage Plan provides you with guaranteed regular monthly income which can be used for your future expenses or to have a peaceful retirement.

Financial coverage for your loved ones:

Max Life Monthly Income Advantage Plan also offers a lump-sum benefit to the nominees upon the death of the policyholder.

Maturity benefit:

Upon maturity of the policy, Max Life Monthly Income Advantage Plan pays the total accrued compound bonuses and terminal bonuses to make sure you are financially stable.

Death benefit:

Upon the death of the insured person, death benefit shall be paid if 11 times of the annualised premium is paid and 105% of all premiums is paid till the date of death of the insured.

Policy continuance benefit:

In any unfortunate situation, Max Life Monthly Income Advantage Plan waives all the future premiums payable by the policyholder. Apart from the lump-sum benefit the policy gives a waiver on all the upcoming premiums which will make the policyholder or the nominees eligible for maturity and income benefits.

Tax benefit:

Most of the schemes offered by Max Life Insurance company comes with tax benefits and Max Life Monthly Income Advantage Plan is no exception. As per the taxation law in India, the policyholder can avail tax benefits on the policy.

Riders coverage:

With Max Life Monthly Income Advantage Plan, the policyholder also gets Max Life Term Plus Rider Plan and Max Life Accidental Death and Dismemberment Rider which also provides lump-sum benefit in case of death due to accident.