Max life Insurance Company
Established in 2001, Max Life Insurance Company is one of the leading private sector insurance companies in India, serving thousands of customers. The company is the result of the joint agreement between Max India Limited and Mitsui Sumitomo Insurance Company. Max life has been operative in India for almost a decade, and has expanded its reach to every nook and corner of the country. So far, Max Life has proved itself to be a major player in the Indian insurance market.
Savings plans offered by Max Life
Max Life saving plans enable you to save and get higher returns on your savings, apart from helping you meet all future unforeseen situations. Under its savings plan, Max Life offers Max Life Guaranteed Income Plan, Max Life Whole Life Super and Max Life Life Gain Premier. Max Life Guaranteed Income Plan offers assured benefits from the very beginning, and you get guaranteed income for a period of 10 years after the policy term. Max Life Whole Life Super Plan provides protection up to the age of 100 years. You can enjoy this facility by paying premium for a limited period. Max Life Life Gain Premier helps you save systematically and enables you to utilize the amount for your future goals.
- Guaranteed tax free monthly income for 10 years.
- Guaranteed terminal illness benefit at the end of payout period.
- Get assured income that doubles after 5 years.
- Guaranteed protection with multiple payout options on death. The plan offers life cover for the life insured during the policy tenure. On death of the life assured during the term, the nominee will have an option to accept either a lump sum death benefit or income for 10 years.
- Tax benefit is offered. But it is subject to tax laws prevailing at the time of payment of premium or receipt of benefits by you.
- The plan comes with a commutation option and offers flexibility to get monthly income as lump sum.
- Guaranteed lifetime protection till the age of 100.
- Flexible premium payment options.
- Flexible bonus options.
- You can customize your policy.
- Offers terminal illness benefits.
- Death benefit during the payout period
- Death benefit during the policy tenure
- Offers survival benefits.
- Avail flexible premium payment options and policy tenures.
- Bonus options are available.
- Get assured maturity benefit.
- Death benefit is guaranteed.
- Terminal illness benefits are covered.
- Provides guaranteed solutions for your child's requirements.
- Flexibility to withdraw cash to meet your requirements.
- Loans can be availed under this plans.
- Tax benefits can be availed but, it is subject to tax laws prevailing at the time of payment of premium or receipt of benefits.
Suppose, you have taken a Max Life Life Gain Premier plan of Rs. 8 lakhs for 10 years. After a few years, you fall sick and get admitted in a hospital. Now, instead of using your savings to pay off your medical bills, you can use the cash offered by Max Life under the above mentioned policy. You are eligible to receive Rs. 4 lakhs to pay off your medical bills which is 50% of the guaranteed maturity sum assured to you in the policy. Thus, the savings plans offered by Max Life Insurance Company help you face any unpredicted financial adversities in life.
Why choose Max Life Savings Plans?
There are a number reasons why you should choose the savings plans offered by Max Life:
- Max Life savings plans offer terminal illness benefits, apart from offering a plethora of benefits such as maturity benefits, death benefits, loyalty additions etc.
- You can get tax exemption by investing in these plans.
- You can withdraw your funds partially in times of need.
- They offer flexible premium payment options.
- Your child’s requirements are also covered under these plans.
Other Max Life Insurance Plans
GST of 18% is applicable on life insurance effective from the 1st of July, 2017