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Max Life Perfect Partner Super Plan

 4.0 / 5.0   by 516 users
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Plan Benefits

Payment Options

Policy Coverage

Customer Service

Responsiveness

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. Max Life Life Perfect Partner Super Plan 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 Max Life provides 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 ensure your loved ones have the financial security 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

    Max Life Perfect Partner Super Plan Reviews

    Page 1 of 26 1 2 3 4 5
    • Max Life Insurance
      "Okay Policy"
      0.5 4.0/5 "Great!"
      I have purchased a term insurance policy from MAX LIFE. I have selected the MAX company because they have higher rating on their claim ratio. I'm really happy about the sum assured amount. Total tenure period is fine. In 2015, i have purchased this policy. I'm really satisfied with the services.
      Was this review helpful? 1
      , new delhi
      Reviewed on Jan 03, 2019
    • Max Life Insurance
      "Too Good policy"
      0.5 5.0/5 "Blown Away!"
      Just recently 5 months back, i have purchased this life insurance policy. I bought the money back policy from Max Life. Total tenure period of the policy is 11 years. There is no particular reason for choosing this policy. I pay the premium amount of Rs. 50000 in a year. I am making the premium through online.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jan 02, 2019
    • Max Life Insurance
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been using my Term insurance with Max life insurance, there service is good, there agent had clearly explain me about the policy, and benefit coverage , and there premium amount they have charged me was nominal, the premium amount is for half yearly basis, i use to pay through off line mode
      Was this review helpful? 1
      , surat
      Reviewed on Dec 30, 2018
    • Max Life Insurance
      "They are good in market"
      0.5 2.0/5 "Expected more"
      I have purchased a life insurance policy in 2012 from Max life. Because of my boss recommendation and reputation of the company, i find the claim ratio was very good hence i chosen same. Max life premium is slight costlier than other. The customers are completely satisfied with their services. They have class set of policies according the premium amount.
      Was this review helpful? 1
      , mumbai
      Reviewed on Dec 29, 2018
    • Max Life Insurance
      "GOOD"
      0.5 4.0/5 "Great!"
      MAX LIFE INSURANCE It is a good policy to access. The maturity period of this policy is for 15 years as it is very good added on that it is the user friendly policy to access. The premium i pay for yearly once with this policy. Also they provide coverage for self.
      Was this review helpful? 1
      , bangalore
      Reviewed on Dec 26, 2018
    • Max Life Insurance
      "GOOD"
      0.5 4.0/5 "Great!"
      The process is very good with the MAX LIFE INSURANCE as i have purchased the life insurance policy with this and also at the beginning the documentation is very good. The maturity period is for 30 years as the premium i pay for monthly once. This give the policy coverage for self.
      Was this review helpful? 0
      , mumbai
      Reviewed on Dec 22, 2018
    • Max Life Insurance
      "Good Policy"
      0.5 3.5/5 "Pretty good"
      I had taken this insurance policy almost five years back and the premium amount has been nominal as well. I have been paying the premium half yearly and the payment method has been simple as well. Their customer care services has also been helpful at times.
      Was this review helpful? 0
      , bangalore
      Reviewed on Dec 17, 2018
    • Max Life Insurance
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I have taken my life insurance policy with Max life insurance, there service is not up to the mark,there is so many confusing ,because of changing of multiple person, there is frequently changing on agent, and there is delay in process, and there is confusing in premium amount.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Dec 16, 2018
    • Max Life Insurance
      "Good Policy"
      0.5 5.0/5 "Blown Away!"
      I have taken my money policy 2 years ago. I have selected the MAX because of the agent who explained me about the policy details. I pay the premium amount of Rs. 50000 per annum. I don't remember about the sum assured amount. This is the tax benefit policy. I pay the premium through cash in their branch office.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Dec 03, 2018
    • Max Life Insurance
      "Good"
      0.5 5.0/5 "Blown Away!"
      I have a life insurance with Max Life and it was taken through an agent. This is a necessary for me and it was taken for tax benefits. The customer service is good. The policy coverage and plan benefits are fine, it could have been better. I make annual premium of around 30K.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 30, 2018
    • Max Life Insurance
      "Dissatisfied"
      0.5 1.0/5 "Really Bad"
      Its a fix guaranteed, I Have invested but I could take the capital amount if I cancel that policy. MY bank forced me but its not recommend from my end. The policy which I took its very disappointed, the customer service is good in one call they updated my KYC details. But the policy terms is not good I get my amount on retired age.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 30, 2018
    • Max Life Insurance
      "Good policy"
      0.5 4.0/5 "Great!"
      I have 2 life insurance policies with Max Life Insurance and am using the service for last 10 months. My friend is working in the company so I have taken the policy with them. I am paying the premium yearly 53K plus 24K through online. The policy is good.
      Was this review helpful? 0
      , chandigarh
      Reviewed on Nov 29, 2018
    • Max Life Insurance
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been using my life insurance with Max life insurance, it has been a month only, and they have charged me premium amount up to 50,000 it was nominal for me and it was based on yearly basis , there agent had explain me policy related norms clearly, overall service is good.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 21, 2018
    • Max Life Insurance
      "GOOD SERVICE"
      0.5 5.0/5 "Blown Away!"
      I have taken the life insurance policy with the MAX LIFE INSURANCE since from past 2010 where the tenuity period of this policy is for 20 years also the policy coverage is for self as well as the nominee. The customer service is very good and supportive.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 19, 2018
    • Max Life Insurance
      "GOOD"
      0.5 4.0/5 "Great!"
      My experience with the MAX LIFE INSURANCE is very good and i am using it from past ten years the maturity period is for 15 years where the premium i pay on monthly basis through the offline. This gives the coverage is for self and i am satisfied with this policy.
      Was this review helpful? 1
      , new delhi
      Reviewed on Nov 16, 2018
    • Max Life Insurance
      "Good service"
      0.5 4.0/5 "Great!"
      I have been holding my Term insurance with Max life insurance, there service they are given me is good, i use to pay premium on yearly bases, and they have charged me up to 21,000 which was nominal for me and the agent had clearly explain about the policy coverage in this insurance, i use to pay premium through off line mode.
      Was this review helpful? 1
      , new delhi
      Reviewed on Nov 16, 2018
    • Max Life Insurance
      "Necessary policy for any human being"
      0.5 4.0/5 "Great!"
      I have taken my term insurance with Max Life Insurance. I have opened this life insurance policy 2 months before and chosen the monthly payment mode. I pay the premium of 1190. They are providing the coverage value of Rs. 75 lakhs. They are covering the accidental benefits of 10 lakhs and partial disability benefits. I can able to utilize the policy upto 75 years.
      Was this review helpful? 1
      , faridabad
      Reviewed on Nov 16, 2018
    • Max Life Insurance
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been holding my Life insurance with Max life insurance , they have many service center near and the process was smooth and there premium they have charge is nominal , i do payment through on line or off line and there agent are very friendly in nature.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Nov 16, 2018
    • Max Life Insurance
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been using my term insurance with Max life insurance from last 3 month only, i use to pay premium on monthly bases and they have charge premium up to 1500 approximately and i do payment through on line and there overall service is good.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 14, 2018
    • Max Life Insurance
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from one bank they have offered me with the MAX LIFE insurance. I ma holding it from past five years where i pay the premium for yearly once through online. The maturity period of this policy is for 15 years and the coverage is for self.
      Was this review helpful? 1
      , bhubaneshwar
      Reviewed on Nov 07, 2018
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