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Max Life Guaranteed Lifetime Income Plan

The Max Life Guaranteed Lifetime Income plan is ideal for you to plan your retirement. After all the hard work you do to achieve financial independence in your young stage, it’s really important you plan for a comfortable retirement when you grow old. No matter how old you grow, you can still lead a smart and comfortable lifestyle, and the Max Life Guaranteed Lifetime Income plan ensures you that by providing guaranteed payouts after your retirement. The Max Life Guaranteed Lifetime Income plan is a non-linked traditional annuity plan and provides comprehensive retirement solutions.

Key Features of Max Life Guaranteed Lifetime Income Plan:

The key features of Max Life Guaranteed Lifetime Income plan include:

  • The plan offers guaranteed income to meet your retirement needs.
  • You have the choice to receive lifelong payments provided you or your family members are alive.
  • You can choose between joint life annuity and single annuity policies.
  • The nominee receives the purchase price of the policy after the death of annuitant.
  • The policy offers flexibilities in terms of receiving payout. You can choose to receive payouts on monthly, yearly, half –yearly or quarterly basis based on your needs.
  • It is a non-linked traditional annuity plan
  • There is no limit for minimum payment and maximum payment.
  • The policy offers the following annuity payment modes - annual, semi-annual, quarterly and monthly.
  • The policy accepts premium payment via cheque and annuity payments via electronic transfer.
  • There are different annuity options available under the plan which include:
    1. Single Life Annuity for life.
    2. Single Life Annuity for life with return of premium to be paid on death.
    3. Joint Life Annuity for life (ROP) to be paid on the death of the last survivor
    4. Joint Life Annuity for life. This comes without any death benefit.
  • The policy offers a free look period of 15 days(30 days for policies obtained via distance marketing channels) and it is subject to certain terms and conditions.

Benefits of Max Life Guaranteed Lifetime Income Plan:

The Max Life Guaranteed Lifetime Income plan provides the following benefits:

  • You can enjoy longer annuity terms with this plan. For a single life variant, it offers annuity till the death of the annuitant. For a joint , it offers annuity till the death of the last survivor.
  • The Max Life Guaranteed Lifetime Income plan does not provide death benefits.
  • No maturity benefit is provided under this plan.
  • You cannot take loan against this plan.
  • You may receive tax benefits on the premiums paid for your . However, it is subject to tax laws existing at the time of premium payment.

Eligibility Conditions for Max Life Guaranteed Lifetime Income Plan:

Entry age

Minimum: 50 years (55 years for policies sourced under QROPS)

Maximum: 80 years

*Annuity below age 50 will be offered is if annuity is purchased using the proceeds from death benefit, maturity benefit or surrender benefit payable under the Company’s pension accumulation plan.

How the Max Life Guaranteed Lifetime Income Plan Works?

For example Mr. X is in his advanced age ( 60 years) and just retired from his service. His wife is nearly 57 years old. Now, if he purchases a Guaranteed Lifetime Income Plan - Joint Life Annuity for Life for Rs.10,00,000, Mr. X will receive an amount of Rs. 69,750 as yearly payouts throughout out his entire life. In case, he dies in between the policy tenure, the payouts will be shifted to his wife. The policy will offer her guaranteed payouts throughout her entire life, ensuring her financial stability.

In a different scenario, you are a retired individual and your age is 65 years. You have a wife and one son. You purchase a Max Life Guaranteed Lifetime Income Plan - Joint Life Annuity for Life with Return of Purchase Price by paying a purchase amount of Rs. 10,00,000 and put your son as nominee for the plan. The plan will provide your guaranteed payouts of Rs. `68,940 every year. In case, you are no more, your wife will receive the payouts for till the time she is alive. When your wife dies, you son whom you keep as nominee, will receive the purchase price of the policy that is Rs. 10,00,000.

Upon submitting the proof of living certificate together with self-attested identity proof, the pay-outs will be paid to family members.

Premium Payment:

Maximum premium payment

No limit

Minimum premium payment

No limit

The Max Life Guaranteed Lifetime Income plan is a must for you provided you want to spend your retirement days with comfort and luxury. The plan provides assured payouts and reduces your financial worries after retirement.

Other Max Life Insurance Pension Plans

  • Max Life Perfect Partner Super
  • Other Poular Max Life Insurance Plans

  • Max Life Insurance Child Plans
  • Max Life Insurance Pension Plans
  • Max Life Insurance Investment Plans
  • Max Life Insurance Savings Plans
  • Max Life Insurance Group Plans
  • Max Life Term Insurance Plans
  • GST of 18% is applicable on life insurance effective from the 1st of July, 2017

     4.0 / 5.0   by 557 users
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    Max Life Guaranteed Lifetime Income Plan Reviews

    Page 1 of 28 1 2 3 4 5
    • 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
      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
    • Max Life Insurance
      "GOOD"
      0.5 4.0/5 "Great!"
      I have purchased the life insurance policy with the MAX LIFE INSURANCE where the policy has the maturity period of 25 years also the coverage is for self. The premium paying for yearly once added on that i am using it since from last 1-15 years policy.
      Was this review helpful? 0
      , new delhi
      Reviewed on May 20, 2019
    • Max Life Insurance
      "GOOD"
      0.5 4.0/5 "Great!"
      MAX LIFE INSURANCE is the insurance company where i am holding the ENDOWMENT POLICY since from last 10 years the policy has the coverage for self and the policy has the maturity period of 20 years. The documentation process was simple and good.
      Was this review helpful? 0
      , new delhi
      Reviewed on May 20, 2019
    • Max Life Insurance
      "GOOD"
      0.5 4.0/5 "Great!"
      I am using from last 1 year the life insurance with the MAX LIFE INSURANCE documentation process was done through the online. The customer support explained the policy details. The maturity period is for 25 years and paying the premium yearly once, coverage for self. It has the coverage of little premium higher with disability.
      Was this review helpful? 0
      , kolkata
      Reviewed on May 19, 2019
    • Max Life Insurance
      "Good flexible investment"
      0.5 5.0/5 "Blown Away!"
      Its some thing like a money back plan, I need to pay the premium for six year then Max Life will provide the bonus interest hence its so flexible for me. I make the premium around Rs. 52,000 per annum and its really good for the tax saving and life coverage.
      Was this review helpful? 0
      , gurgaon
      Reviewed on May 15, 2019
    • Max Life Insurance
      "GOOD"
      0.5 4.5/5 "Excellent!"
      I have purchased the life insurance policy with the MAX LIFE INSURANCE where the maturity period of this policy is for 20 years also the policy coverage is for self. The premium paying for yearly once added on that the policy has the life coverage.
      Was this review helpful? 0
      , pune
      Reviewed on May 13, 2019
    • Max Life Insurance
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      I am using the life insurance policy with the MAX LIFE INSURANCE where the where the policy has the coverage for family added on that the maturity has the long term plan and it is has the life coverage also the accidental coverage with this policy.
      Was this review helpful? 0
      , kolkata
      Reviewed on May 10, 2019
    • Max Life Insurance
      "NOT SATISFIED"
      0.5 1.0/5 "Really Bad"
      It is not good the life insurance with the MAX LIFE INSURANCE because the premium not paid with this policy and asked for closing then they have given return money after detecting the one month premium. It is the child plan. Maturity period is for 16 years. I am using from last more than 7-8 yeras.
      Was this review helpful? 0
      , new delhi
      Reviewed on May 08, 2019
    • Max Life Insurance
      "BETTER"
      0.5 3.0/5 "Satisfactory"
      I have purchase the EULIP PLAN with the MAX LIFE INSURANCE where i am using it since from last 10 years the maturity period of this policy is for 10 years and i got the policy matured and sot the sum assured too, The premium paid was yearly once with this policy.
      Was this review helpful? 0
      , new delhi
      Reviewed on Apr 29, 2019
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