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  • Max Life Maxis Super Plan

    When you have worked hard to save for a secure future for your family, and to provide them with the best. This plan Max Life Maxis Super will maximize your savings to make yourself capable to live life to the fullest, giving you the ability to fulfill your wishes, and accomplish your dreams.

    Features of Max Life Maxis Super ULIP:

    The main features of the Max Life Maxis Super is to help you plan your finances by balancing the equity and debt exposure so that you enjoy your future years fully.

    1. This plan provides the policy holder protection coverage on the basis of his age.
    2. Allows you to choose a premium payment of your choice at your convenience.
    3. Give you a choice 5 funds with different investors with different risk appetites.
    4. Provides you with the ability to protect your investments against market volatility, with their dynamic asset allocation mechanism.
    5. This plan even makes up for those sudden expenses you need taken care of urgently, with partial withdrawals.

    This plan also helps in:

    Creation of wealth with your funds being safe

    By investing the right amount into different funds or redirecting to a savings fund.

    Premium payment for short terms

    You can choose a premium payment terms for 7 or 10 years as per your need.

    Protection flexibility

    You can choose the insurance cover to be 11/15/20 times the annual premium, this is decided on your age.

    Benefits Offered By Max Life Maxis Super Plan:

    Death benefit Sum assured plus Fund Value (on the date of death; subject to at least 105% of total premium paid)
    Maturity Benefit Fund value on the date of plan maturity

    Eligibility Conditions:

    Product type Non-participating unit-linked life insurance plan
    Coverage type Individual
    Age at entry Policyholder must be aged between 18 years to 55 years in order to be eligible to apply for this plan
    Max. age at maturity Policyholder must not be above 70 years of age when the plan matures
    Sum Assured Multiple
    Age of life insured Sum assured multiple
    18 – 34 11/15/20 times of Annualised Premium
    35 – 44 11/15 times of Annualised Premium
    45 - 55 11 times of Annualised Premium
    Premium payment term 7 or 10 years
    Policy term 15 years
    Annualised premium Minimum – Rs.35,000; Maximum – No limit
    Sum assured Minimum – Rs.3,85,000; Maximum – No limit; subject to conditions
    Premium payment mode Premium can be paid only an a yearly basis

    Investment of Funds:

    Dynamic Fund Allocation, can be opted at the time of the inception of the policy. Under this option, the assets management will be maintained amongst Growth Super Fund and other Secure Fund in a predefined proportion that changes depending upon the years left to maturity. The allocation helps in balancing the equity and debt exposure by automatically allocating your funds as per the pre-determined percentages mentioned below.

    Years to maturity

    Assets managed and maintained under Growth Super Fund

    Assets managed and maintained under Secure Fund

    11 - 15 years



    6 - 10 years



    0 - 5 years



    Charges Involved in the Plan:



    Premium charges allocation

    This is expressed as a percentage of the premium

    Payment terms

    Policy in years 1 - 5

    Policy in years 6 and above

    7 years pay



    10 years pay



    Fund management charges

    This a charged levied again as a percentage of the assets and is an appropriation

    Fund name

    Fund value charges as a percentage per annum

    Growth Super Fund


    Growth Fund


    Balanced Fund


    Conservative Fund


    Secure Fund


    Policy charges - Administration

    Charges for both pay variants from date of commencement, and is levied at each monthly anniversary.

    Mortality charges

    Mortality charges are levied for provided risk charges on the life insurance during the policy term. This is charged on per Rs. 1, 000 of the sum assured

    Age in years





    Mortality charges





    Switching charges

    12 switches are allowed per policy year, free of charge

    Redirection of premium charges

    6 redirection of premium are allowed per policy year free of charge

    Partial withdrawal charges

    After the first 5 years of the policy, 2 partial withdrawals are allowed per policy year free of charge

    Premium Discontinuation:

    With this plan you will be charges for discontinuation of the policy, the charges will be levied on the Fund value at the time of discontinuance. If the policy is discontinued the charges will be lower than the below.


    Percentage of the annual premium

    Percentage of the Fund value

    Fixed amount

    1st policy year



    Rs. 6, 000

    2nd policy year



    Rs. 5, 000

    3rd policy year



    Rs. 4, 000

    4th policy year



    Rs. 2, 000

    5th policy year




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

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