Bankbazaar

Max Life Perfect Partner Super Plan

Life is a long journey, and a perfect partner just makes this journey easy, adventurous and even fun. When you pass through the meaningful stage in life, you will need to take care of creating assets along the way, saving for your child's bright future when it comes to their education, wedding and so on, saving up for a laid back and enjoyable retirement. will help you do just that, by understanding your desires and making it possible to achieve them by simplifying your financial planning and investment.

Key Features of Max Life Perfect Partner Super Plan:

  1. Guaranteed sum assured: Get a guaranteed sum assured of 212.5% of the guaranteed maturity - with this plan you can get a guaranteed maturity of 212.5% and it comprises of the guaranteed money backs, and also a lump sum benefit on maturity.

    • The money backs will ensure you get a 7.5% of the guaranteed sum assured on your policy anniversary after you, the policyholder have reached the age of 61-75 years.

    • You also receive a maturity benefit lump sum, where you will receive guaranteed maturity sum plus accrued paid-up additions (if any) plus additional terminal bonus (if any) on the maturity of the policy at 75 years of age.

  2. Premium payments are flexible: Depending on your financial goals, the Max Life Life Perfect Partner Super Plan offers you the flexibility to choose your premium payments terms. You can choose terms ranging from 7, 10, 15, and 20 years as your term of premium payments.

  3. Customize your policy to suit you: You can use the various riders to your plan and customize it to suit your needs of additional protection.

Benefits of Max Life Perfect Partner Super Plan:

  1. Comprehensive death benefit: If case of the policyholder’s unfortunate demise, the Max Life Life Perfect Partner Super Plan offers a comprehensive death benefit to they require.

  2. Tax benefits: Under the laws of the Income Tax Act 1961, the policyholder will have tax benefits available.

  3. Bonus options that are flexible: Under this option you can choose the bonus options as per your requirement.

    • Paid in cash: If any bonus is declared every year from the 2nd year of the policy, this bonus will be paid in cash till the end of the policy term of 75 years of age of the life insured.

    • Offsetting of premium: Any bonuses declared can be offset towards the premium payments of future years.

    • Paid-up additions: You can also purchase additional sum assured, to help boost your maturity value through the compounding. You can use the bonus to make these purchases.

  4. Terminal illness benefit: Any policyholder suffering from terminal illness can claim this benefit once during the policy term.

  5. Riders: Choosing an additional rider for your policy, on the happening of the insured event.

  6. Surrendering benefit: This kind of benefit is payable immediately on surrender, the policy acquired has a surrender value as mentioned below:

    • For a policy wherein the payment terms of 7 years - after the payment of 2 full year premiums.

    • For a policy wherein the payment terms of 10, 15, or 20 years - after the payment of 3 full year premiums.

  7. Non-Forfeiture Benefit: Reduced Paid-up (RPU): Discontinuance of a policy will lead to a surrender, and acquires surrender value.

  8. Loan facility: There is no loan facility available under this product.

Eligibility Conditions:

Particulars

Details

Entry ages (as per last birthday)

Minimum age at entry

91 days

Maximum age at entry

Payment of premium in years

Maximum age at entry

7 - 10 years

55 years

15 years

50 years

20 years

45 years

Minimum premium per year

Payment of premium in years

Minimum premium

7 years

Rs. 20,000 per annum

10, 15, or 20 years

Rs. 8500 per annum

Maximum premium

Depends on the age of the policyholder and the maximum sum assured (subject to the underwriting policy of Max Life Insurance with board approval)

Maturity age

The available maturity age is 75 years, if the policy anniversary is follows or coincides with the age of the policyholder turning 75 years

Sum assured limits

Minimum sum assured - Rs. 50,000 this is subject to the minimum premium terms

Maximum

How the Plan Works?

Let’s take an example, Mr. Sharma a policyholder is 35 year old and is married to Geetha who is aged at 32 years. Mr. Sharma, wants to secure his future with his life partner with the Max Life Life Perfect Partner Super Plan, so he decides to take up a premium payment term of 20 years and pays an annual premium of Rs. 60,000 without taxes. He chooses the Bonus Option (this option has dividends paid to shareholders, this funds are created out of additional profits earned by the company) of the paid-up additions. He should get a guaranteed maturity sum assured of Rs. 8, 81, 704. There are 3 types of benefits from this policy, the survival benefit, maturity benefit or the death benefit.

Survival/ maturity benefit:

Benefit

When

What

Survival benefit

Ages 61 - 75 years

Rs. 66,128 per year

Maturity benefit

At 75 years of age there is a guaranteed maturity benefit

Rs. 8, 81, 704

 

Maturity benefit at 4%

Maturity benefit at 8%

Rs. 15, 62,076

Rs. 55, 85,174

* The amounts mentioned include the guaranteed maturity sum assured with non-guaranteed accrued paid-up additions and bonuses.

Death benefit:

Age of the policyholder in years

Death Benefit at 4%

Death Benefit at 8%

35

Rs. 8,81,704

Rs. 8,81,704

50

Rs. 12,93,754

Rs. 19,74,672

60

Rs. 16,90,012

Rs. 32,58,418

70

Rs. 18,52,135

Rs. 48,60,262

* The guaranteed death benefit of Mr. Sharma keeps increasing with his age. And is under the consideration that he pays all premiums in time and the policy is in force.

Premium Payment:

The premium payment can be made in different modes, annually, semi-annually, quarterly, and monthly premium paying modes. There are also modal factors that need to be considered they are as follows:

Modal factors

Premium Modes

Factors

Annually

1.000

Semi-annually

0.520

Quarterly

0.265

Monthly

0.090

Minimum premium payments:

Premium payment terms (in years)

Minimum premium

7 years

Rs. 20, 000 per annum

10, 15, or 20 years

Rs. 8,500 per annum

Riders:

If a policyholder wishes to add an additional coverage to their policy in case of an unfortunate incident. This rider will provide the policyholder with additional protection along with the insurance plan or base plan.

The Max Life Term Plus Rider has certain conditions as well they are mentioned below:

Age entry

Minimum - 20 years

Maximum - 55 years

Maturity Age

60 years

Premium Modes

Same as Base Policy

Minimum/Maximum Premium

Based on the minimum and maximum premium under the Base Policy and any attaching rider.

However, the rider premium cannot exceed 30% of premiums payable under the Base Policy.

Other Max Life Insurance Pension Plans

  • Max Life Guaranteed Lifetime Income Plan
  • 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 591 users
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    Plan Benefits

    Payment Options

    Policy Coverage

    Customer Service

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    Max Life Perfect Partner Super Plan Reviews

    Page 1 of 30 1 2 3 4 5
    • Max Life Insurance
      "Good insurer"
      0.5 5.0/5 "Blown Away!"
      I have taken a life insurance in MAX LIFE INSURANCE on 6 years before. The policy is for 50 years. I am paying premium in the yearly package. While getting a policy my agent has given an information about the policy details. It covers up to myself.
      Was this review helpful? 0
      , jaipur
      Reviewed on Oct 03, 2019
    • Max
      Max Life Insurance
      "Good"
      0.5 4.0/5 "Great!"
      The reason for selecting Max life is I felt, the benefits are good and convenient for me. The customer service is better. I have taken a 5years policy and the premium was 50K per year. In the 10th year, I will be getting sum assured of 6L which is double the amount what I have paid.
      Was this review helpful? 0
      , kakinada
      Reviewed on Sep 27, 2019
    • Max Life Insurance
      "Good policy for future"
      0.5 4.0/5 "Great!"
      I had chosen my term insurance from Max Life. Since my friend has recommended about the policy i have taken it. I am paying the premium amount of Rs. 6000 every year. They have given me a coverage value of Rs. 50 lakhs. They do provide cover for partial disability cover also.
      Was this review helpful? 0
      , tirunelveli
      Reviewed on Sep 24, 2019
    • Max Life Insurance
      "Good insurer"
      0.5 5.0/5 "Blown Away!"
      I have taken a life insurance in MAX LIFE INSURANCE on 1 year before. The policy is for life term. I am paying premium in the yearly package for 50 thousands. While getting a policy my agent has given an information about the policy details. I visit to office directly to pay the premium amount.
      Was this review helpful? 0
      , anantapur
      Reviewed on Sep 22, 2019
    • Max Life Insurance
      "Good claim settlement ratio and very good service"
      0.5 4.0/5 "Great!"
      I have life insurance with MAX because of the claim settlement ratio around 98.9% . Yearly I make Rs. 52,000 it has the maturity period of 25 years, its a traditional plan, I get around Rs. 22 lakhs overall and it has life coverage if there is no any demise my nominee get the life cover. I do have flexi pay option.
      Was this review helpful? 0
      , sonipat
      Reviewed on Sep 19, 2019
    • Max Life Insurance
      "Need improvement on the benefits"
      0.5 4.0/5 "Great!"
      AXIS bank have recommended Max life insurance comes along with ULIP. I need to invest upto 7 years but the ULIP has the locking period of 12 years, the premium is economical as per the policy. They do have good life cover for the financial security for unforeseen events. It has tax saving under 80c section, I have online credential for max life to check my insurance details and every day I get sms as well. I make the premium on yearly basis through online.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Sep 19, 2019
    • Max Life Insurance
      "Good"
      0.5 4.0/5 "Great!"
      The payment mode is online and making the premium through debit card or credit card. I have taken short term life policy with MAX LIFE. The benefits are good. They have provided me a life cover of 12L with the locking period of 5 years. I have not gone through the documents so cannot tell about this policy much. Their claim settlement rate is good and giving 98.8%.
      Was this review helpful? 0
      , new delhi
      Reviewed on Sep 16, 2019
    • Max Life Insurance
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I have taken Life Insurance policy through Max Life agent .This policy tenure is for 20 years.I am paying the premium through citi bank credit card .The agent gave all the information about the insurance policy .I have received the policy documents on time .This policy is really useful and it is still active .
      Was this review helpful? 0
      , mumbai
      Reviewed on Sep 05, 2019
    • Max Life Insurance
      "Moderate"
      0.5 3.0/5 "Satisfactory"
      I have taken a term plan from MAX LIFE because am employee of Axis Bank and that time have take a term plan of 75L. There is no benefits, just am paying the premium. If any demise happens the family will be getting the benefit. The customer service is average. I am doing online payment and its 7K per year.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Sep 03, 2019
    • Max Life Insurance
      "Good "
      0.5 5.0/5 "Blown Away!"
      I have taken a life insurance with MAX LIFE INSURANCE on 2 years before. The policy is for 15 years and it is gain plan policy. I am paying premium on monthly package. While getting a policy my agent has given an information about the policy details. I use to pay for 2500 rupees.
      Was this review helpful? 0
      , new delhi
      Reviewed on Aug 28, 2019
    • Max Life Insurance
      "Good"
      0.5 4.0/5 "Great!"
      I have chosen MAX LIFE for a life insurance. It is for future savings and life insured cover. I am doing yearly premium of Rs.52,000, it will be automatically debited from my account. I receive a statements from them. The sum assured is 5Lakhs.
      Was this review helpful? 0
      , kolkata
      Reviewed on Aug 26, 2019
    • Max Life Insurance
      "Good for the family protection"
      0.5 4.0/5 "Great!"
      I have one term plan with Max life for the sum assured of Rs. 70 lakhs, yearly I paid Rs. 22,000 for the term of 16 years and the life cover upto 70 years of age. I have option to add only nominee however the claim settlement is good for this insurance company.
      Was this review helpful? 0
      , mumbai
      Reviewed on Aug 24, 2019
    • Max Life Insurance
      "Good Investment"
      0.5 4.0/5 "Great!"
      I am having MAX LIFE which was suggested by their staff, the premium is economical. I used to pay Rs. 50,000 per annum it has the term of 19 years, after the maturity I get the lump sum amount along with the monthly bonus. I got the policy bond from the insurance company.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 23, 2019
    • Max Life Insurance
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      I have purchased a term plan with MAX LIFE because their claim settlement ratio is high compared to other insurance company and also premium is affordable. Their executive is regularly calling me and helpful too. The payment mode is online.
      Was this review helpful? 0
      , jaipur
      Reviewed on Aug 21, 2019
    • Max Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      Taken my life insurance policy from Max life. I am paying the premium amount of Rs. 50000. I did the ECS facility hence the amount will be automatically deducted from my account. I need to pay the premium for 10 years and after 10 years the bonus will get added. Total sum assured amount of the policy is 6 lakhs.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 20, 2019
    • Max Life Insurance
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      I took a life insurance from Max life because the premium is affordable. I have not used the customer service but heard they are doing good. I am paying 35K yearly through online. The payment mode is convenient and am getting notifications immediately. I took it for savings plan.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Aug 19, 2019
    • Max Life Insurance
      "Good insurer"
      0.5 5.0/5 "Blown Away!"
      I have taken a life insurance with MAX LIFE INSURANCE on 6 months before. The policy is for 38 years. I use to do payment through an online. I am paying premium on monthly package. While getting a policy my agent has given an information about the policy details.
      Was this review helpful? 0
      , pune
      Reviewed on Aug 16, 2019
    • Max Life Insurance
      "Fast and quick policy"
      0.5 4.0/5 "Great!"
      I have just booked the policy through online and i have got my insurance documents within a day to my mail id. They have sent the documents after 10 days. Axis bank had a tie up with Max life thats the reason i opted this policy. I'm satisfied with the coverage value.No medical examination is required.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 16, 2019
    • Max Life Insurance
      "Excellent card"
      0.5 4.0/5 "Great!"
      I have purchased a life insurance policy from Max Life through online. I am paying premium of Rs.700 monthly through cash and sometimes online. The customer service is good. The policy coverage is 32L. I need to pay the premium upto age of 60K.
      Was this review helpful? 0
      , bikaner
      Reviewed on Aug 12, 2019
    • Max Life Insurance
      "Good for the family protection"
      0.5 4.0/5 "Great!"
      Reason to select Max life, I found the claim settlement ratio is good around 98% this year. They also providing critical illness waiver, waiver on disability. The customer care is very prompt they shared terms and condition before availing the plan. It has the life cover upto 80 years and premium 60 years. I paid the premium around Rs. 850 per month, I sum assured of Rs. 1 crore, I have option to add nominees, I avoided half of the lum sum amount and they give monthly payment.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 11, 2019
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