Max Life Maxis Super Plan
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 is to help you plan your finances by balancing the equity and debt exposure so that you enjoy your future years fully.
- This on the basis of his age.
- Allows you to choose a premium payment of your choice at your convenience.
- Give you a choice 5 funds with different investors with different risk appetites.
- Provides you with the ability to protect your investments against market volatility, with their dynamic asset allocation mechanism.
- 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 | 70% | 30% |
6 - 10 years | 50% | 50% |
0 - 5 years | 30% | 70% |
Charges Involved in the Plan:
Charges | Particulars | ||||||||||||
Premium charges allocation | This is expressed as a percentage of the premium
| ||||||||||||
Payment terms | Policy in years 1 - 5 | ||||||||||||
7 years pay | 4% | ||||||||||||
10 years pay | 4% | ||||||||||||
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 | 1.25% | ||||||||||||
Growth Fund | 1.25% | ||||||||||||
Balanced Fund | 1.10% | ||||||||||||
Conservative Fund | 0.90% | ||||||||||||
Secure Fund | 0.90% | ||||||||||||
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 | 25 | ||||||||||||
Mortality charges | 1.13 | ||||||||||||
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.
Years | Percentage of the annual premium | Percentage of the Fund value | Fixed amount |
1st policy year | 6% | 6% | Rs. 6, 000 |
2nd policy year | 4% | 4% | Rs. 5, 000 |
3rd policy year | 3% | 3% | Rs. 4, 000 |
4th policy year | 2% | 2% | Rs. 2, 000 |
5th policy year | 0% | 0% | - |
GST of 18% is applicable on life insurance effective from the 1st of July, 2017
Disclaimer
Credit Card:
Credit Score:
Personal Loan:
Home Loan:
Fixed Deposit:
Copyright © 2025 BankBazaar.com.