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Max Life Insurance Child Plans

Max Life is among the foremost life insurance providers in India. The company is a joint venture between Max India and Mitsui Sumitomo Insurance of Japan. Max life has the fourth largest market share in the life insurance segment among all private vendors in India. It is also among the fastest growing life insurance provider in the country.

Max Life child care plans are highly sought after products. Child plans encompass a category of with features such as maturity and death benefits, premium waiver, flexible withdrawal etc. These plans are meant to provide financially secure future to a child, in case the parent (life insured) suffers fatality before the child can stand on his or her feet.

Types of Max Life Child Plans

Currently, Max Life is offering a dedicated and comprehensive child plan – Shiksha Plus Super Plan. This is a standard child plan from that provides timely or lump sum benefits to the beneficiary (child) in case of death of the insured (parent).

Max Life Shiksha Plus Super Plan

The Shiksha Plus Super Plan is available for Indian citizens between 21 and 50 years of age. The maximum age of the applicant at maturity should be below 65 years (regular pay) or 60 years (5 pay). The regular premium pay schemes are available in tenures between 15 to 25 years while the 5 pay premium scheme will be allowed for 10 years maturity policies.

The financial benefits of this plan include:

A lump sum amount will be paid out at the death of the policy-holder.

Family Income Benefit: This is provided in the case of death of the policyholder during the policy tenure. 10% of sum assured is paid out every year till the end of the policy term (subject to a minimum of 3 such payments and a maximum of 10 payments).

Funding of Premium: In case of policyholder's death during the policy term, the insurer will pay the remaining premium till the end of policy tenure, and the fund value will be given out at maturity. All benefits will still be paid out to the beneficiary as per policy documents.

Why choose Max Life Child Plan?

Complete life insurance coverage with features such as Funding of Future Premiums and Family Income Benefit.

Flexible premium payment and policy tenures.

5 different options for investing funds, with additional protection against market volatility.

Partial withdrawals allowed at no penalties subject to conditions.

Funds can be paid out in a lump sum or in equated instalments given out at important junctions of a child’s life such as college, marriage etc.

Tips and example

The best time to buy a child education plan from Max Life is as soon as your child is born. Buying early allows you to think far ahead against any eventualities that can hamper your child’s future. Also, you may have to pay lower premiums if buying early.

The plan also provides you with the option of investing in one of the 5 fund choices. You should choose the fund options carefully, as the ones which give the highest returns are usually categorized as risky propositions. Funds are a combination of debt and equity instruments. As such, funds with a higher ratio of equity investments can provide you with potentially high returns, though with a high-risk factor. Similarly, funds with a greater share of investments in government securities are relatively secure, but provide lower returns.

Suppose an applicant buys a policy at 35 years of age for his/her child of 1 year. He/she chooses a policy tenure of 20 years with Rs.50,000 as annualised premium. So, after paying the premium for 20 years, he stands to receive Rs.11,91,363 at 4% interest p.a. at policy maturity. Death benefits will be paid out to the nominee (child) if the insured does not survive through the policy tenure.

Finally, the Max Life Shiksha Plus Super Plan is a great option for a child plan. With a comprehensive list of benefits and features, as well as easy and hassle-free processing of applications, , promise to secure the future of your child, with you or without you.

Other Max Life Insurance Plans

GST of 18% is applicable on life insurance effective from the 1st of July, 2017

 4.0 / 5.0   by 565 users
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Plan Benefits

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Max Life Child Plans Reviews

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  • Max Life Insurance
    "Excellent insurance"
    0.5 5.0/5 "Blown Away!"
    My relation and friend circle chosen the life insurance policy from Max thats the reason i have chosen them. I have been paying the premium amount of Rs. 1 lakh for the annual payment mode. Total term period of the policy is 12 years. Through cheque, i made the premium.
    Was this review helpful? 0
    , pune
    Reviewed on Jul 16, 2019
  • Max
    Max Life Insurance
    "Excellent service"
    0.5 4.5/5 "Excellent!"
    I have taken my life insurance policy with ICICI bank,there service is quite good, their premium they have charged me was nominal, i pay premium on monthly basis, and their agent had properly explain about the plan benefits and policy ,so far i did not face any issue from them.
    Was this review helpful? 0
    , chennai
    Reviewed on Jul 09, 2019
  • Max Life Insurance
    "Good insurer"
    0.5 4.0/5 "Great!"
    I have taken a life insurance in MAX LIFE INSURANCE few month before taken. I am paying premium in the yearly package. While getting a policy my agent has given an information about the policy details and provided hard copy documents as well. I use to do payment through an online.
    Was this review helpful? 0
    , pune
    Reviewed on Jul 05, 2019
  • Max Life Insurance
    "Good"
    0.5 4.0/5 "Great!"
    I have taken a life insurance in MAX INSURANCE before 11 years ago.The policy is for 20 years.I am paying premium in annual package. While getting a policy my agent has given an information about the policy details and provided hard copy documents as well. I use to do payments through an online.
    Was this review helpful? 0
    , bhubaneshwar
    Reviewed on Jul 05, 2019
  • Max Life Insurance
    "GOOD"
    0.5 4.0/5 "Great!"
    I am using the term plan since from last few months and the reason for getting the policy is because of good returns. It is a term plan of maturity is of 30 years, premium paying for monthly once also the coverage is for self. I got the hard copy on time.
    Was this review helpful? 0
    , ahmedabad
    Reviewed on Jul 05, 2019
  • Max Life Insurance
    "Excellent"
    0.5 5.0/5 "Blown Away!"
    I have taken a term insurance in MAX LIFE INSURANCE. The policy is for 55 years. I am paying premium in the monthly package. While getting a policy my agent has given an information about the policy details and provided hard copy documents as well.
    Was this review helpful? 1
    , bangalore
    Reviewed on Jun 28, 2019
  • Max Life Insurance
    "GOOD POLICY"
    0.5 4.0/5 "Great!"
    MAX LIFE INSURANCE is the institue where i have taken the life insurance policy on 2015 also the name of the policy is MAX LIFE GAIN it has the maturity period of 20 years as the policy premium paying for yearly once and it gives the policy coverage for self.
    Was this review helpful? 0
    , new delhi
    Reviewed on Jun 27, 2019
  • Max Life Insurance
    "Good service and good returns"
    0.5 5.0/5 "Blown Away!"
    Max Life policy is my long term policy. Overall market rate is good in this company. I get a returns upto 15% at this time. I have been investing the money of Rs. 1500 every month. Total coverage value is Rs. 5 lakhs. This is a tax benefitable policy. I make the premium through online.
    Was this review helpful? 0
    , pune
    Reviewed on Jun 24, 2019
  • Max Life Insurance
    "Good"
    0.5 4.0/5 "Great!"
    I have taken a term insurance in MAX LIFE INSURANCE 2 years before. The policy is for 40 years. Now I am paying premium in the monthly package. While getting a policy my agent has given an information about the policy details. I use to do payments through an online. The policy coverage up to myself.
    Was this review helpful? 0
    , chennai
    Reviewed on Jun 14, 2019
  • Max Life Insurance
    "Pretty Good Policy"
    0.5 4.0/5 "Great!"
    I pay the premium amount of Rs. 50000 every year. Total term period is 12 years. I took the life insurance policy from Met LIFE. Once the maturity is over, i will get Rs. 6000 for every month for the next 10 years. This is a fixed value with guaranteed along with that 4% or 5% appreciation amount i will get which is an optional one. I make the premium through online.
    Was this review helpful? 0
    , mumbai
    Reviewed on Jun 14, 2019
  • Max Life Insurance
    "Good Service"
    0.5 5.0/5 "Blown Away!"
    I have taken life Insurance through Max life it is a Maturity benefit policy is for the tenure of 15years .The premium is paid online ,The premium is amount is Rs. 36000.The premium is paid on yearly basis ,policy is still active and the agent gave all the relevant details about the policy .
    Was this review helpful? 0
    , ahmedabad
    Reviewed on Jun 07, 2019
  • Max Life Insurance
    "Good Service"
    0.5 4.0/5 "Great!"
    I have taken Life Insurance policy through Max Life directly This is a maturity policy is for the tenure of 10 years ,The premium is monthly basis,premium is very nominal ,The premium paid was yearly and then i have changed it as now monthly basis , Axis bank referred this Max life policy .I have received the policy documents on time.
    Was this review helpful? 0
    , mumbai
    Reviewed on Jun 02, 2019
  • Max Life Insurance
    "Good Service"
    0.5 4.0/5 "Great!"
    I have taken Life Insurance policy through Max Life Insurance company directly.This is a maturity policy ,it is for the tenure 15years ,premium is very nominal ,policy documents got on time ,it will be closed after 15years.I have got all the required information about the policy .This policy is very useful .
    Was this review helpful? 1
    , bangalore
    Reviewed on Jun 02, 2019
  • Max Life Insurance
    "Good Service"
    0.5 2.0/5 "Expected more"
    I have taken Life insurance policy directly taken through Max Life Insurance company .The agent gave all information about the life insurance through the agent ,it is for the tenure of 8years ,The premium is paid through online ,premium is very nominal policy documents received on time ,The agent gave all the details .so far not faced any difficulties , I have closed this policy .
    Was this review helpful? 0
    , bangalore
    Reviewed on May 30, 2019
  • Max Life Insurance
    "Good Service"
    0.5 5.0/5 "Blown Away!"
    I have taken Max Life insurance year policy through Online ,it is valid till age 50 years and i need to pay till 60years ,policy documents got on time ,The agent gave all information about the policy .The payment is done through online and using credit card for making the payment.
    Was this review helpful? 0
    , mumbai
    Reviewed on May 29, 2019
  • Max Life Insurance
    "Better"
    0.5 4.0/5 "Great!"
    I have been paying the premium recently with MAX LIFE for the term plan. The premium is good and they are providing better benefits than other insurer. The customer service is good. I make monthly premium of Rs.1900 through online. They have explained about the policy well.
    Was this review helpful? 0
    , jaipur
    Reviewed on May 29, 2019
  • Max Life Insurance
    "GOOD"
    0.5 3.0/5 "Satisfactory"
    I have purchased the life insurance policy with the MAX LIFE INSURANCE where using it since from last 3 years the policy has the coverage for self and i have purchased the pension plan with this policy. The customer support is good also it is a good policy to use.
    Was this review helpful? 0
    , mumbai
    Reviewed on May 28, 2019
  • Max Life Insurance
    "Good"
    0.5 4.0/5 "Great!"
    I have taken a life insurance in MAX LIFE INSURANCE for the past 3 years ago. The policy is for 30 years. Now I am paying premium in the yearly package. While getting a policy my agent has given an information about the policy details and provided hard copy documents as well. I use to do payments through an agent. The coverage up to myself.
    Was this review helpful? 0
    , jaipur
    Reviewed on May 26, 2019
  • Max Life Insurance
    "Good"
    0.5 4.0/5 "Great!"
    I have taken a life insurance in MAX LIFE INSURANCE. The policy is for 20 years. Now I am paying premium in the yearly package. While getting a policy my agent has given an information about the policy details. The coverage for my whole family members. Through an online I used to payments.
    Was this review helpful? 0
    , hyderabad
    Reviewed on May 24, 2019
  • Max Life Insurance
    "Best way to protect the family"
    0.5 5.0/5 "Blown Away!"
    I have term plan with Max life, per month I make Rs. 1900 it has term upto 50 years old, the sum assured for Rs. 1 crore to protect my family. I checked the claim settlement and grievance resolved ratio its good. They need improvement on support remain all fine, they do have waiver on the critical illness and disability.
    Was this review helpful? 0
    , pune
    Reviewed on May 21, 2019
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