The Max Life Shiksha Plus Super is a unit linked plan (ULIP) offered by Max Life Insurance Company.
The plan is particularly designed to provide enhanced protection for your children's future. The can be your best choice to meet the financial cost incurred in your children’s education.
The plan will enable you to take care of your children even if you are not there by providing comprehensive solution for your children’s future. It is kind of savings plan that can help parents take proper care of their children.
The Shiksha Plus Super – ULIP comes with the following key features:
The Max Life Shiksha Plus Super plan comes with the following benefits:
Minimum | 21 Years. |
Maximum | 50 Years. |
Maximum maturity age of the life insured |
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Listed below are the funds wherein you can invest with your Max Life Shiksha Plus Super plan:
Name of funds | Corporate Bonds | Government Securities | Money Market & Cash Instruments | Equity & Equity related securities Risk Rating |
Growth Super Fund (SFIN: ULIF01108/02/07LIFEGRWSUP104) | 0%-20% | 0%-20% | 0%-30% | 70%-100% |
Growth Fund (SFIN: ULIF00125/06/ 04LIFEGROWTH104 | 0%-30% | 0%-30% | 0%-40% | 20%-70% |
Balanced Fund (SFIN: ULIF00225/06/04LIFEBALANC104) | 20%-40% | 20%-50% | 0%-40% | 10%-40% |
Conservative Fund (SFIN: ULIF00325/06/04LIFECONSER104) | 0-50% | 50-80% | 0%-40% | 0%-15% |
Secure Fund (SFIN: ULIF00425/06/04LIFESECURE104 | 0-50% | 50-100% | 0%-40% | Nil |
Secure Plus Fund (SFIN: ULIF01628/04/09LIFESECPLS104)(This fund is available only for systematic transfer plan) | 0-40% | 60-100% | 0%-40% | Nil |
Premium allocation charges | For 5 Pay policies:
For Regular Pay policies:
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Fund management charge |
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Policy administration charges |
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Mortality charges ( Per Rs.1000 ) |
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Surrender / discontinuance charges | Charged based on the fund value of the policy at the time of discontinuance. |
Switch charges | Nil |
Premium redirection charges | Nil |
Partial withdrawal | Nil |
In case, a policyholder fails to pay the premiums on time or within the due date, a grace period of 30 days will be provided to the policyholder. If the policyholder still fails to pay the pending premiums and the grace period expires, Max Life Insurance Company will serve a notice requesting him/her either to revive the policy or completely withdraw it. The risk cover will continue during the grace period and all charges will be applied
GST of 18% is applicable on life insurance effective from the 1st of July, 2017
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