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 557 users
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    Plan Benefits

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    Max Life Perfect Partner Super 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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