We will call you back.
Just share your number for a call back in less than 15 minutes
Max Life Whole Life Super is a traditional participating whole life insurance plan that provides protection up to 100 years of age. In the event of your death during the policy term, the family will receive a death benefit that will help them to take care of all their financial expenses. This policy also provides an option to withdraw money to meet any financial exigencies, without surrendering the policy. The maturity benefit is payable on the attainment of age 100 years of the insured.
Guaranteed lifetime protection till 100 years
Flexible Premium Paying Terms to choose
Lumpsum Payout at Maturity
Flexible bonus options
Flexibility to withdraw money during life’s Milestones
Opt for Riders to enhance the policy coverage
On your death within the policy term, the death benefit is paid as: Guaranteed Death Benefit + Accrued Paid - Up Additions (if any) + Terminal Bonus (if any).
Guaranteed Death Benefit is higher of 105% of all premiums paid (on date of death), or 11 times the Annualised Premium, or Guaranteed Maturity Sum Assured.
The policyholder gets the maturity benefit on attaining 100 years of age or immediately after attaining this age.
Maturity Benefit= Guaranteed Maturity Sum Assured + Accrued Paid Up Additions (if any) + Terminal Bonus (if any).
Terminal Illness Benefit
In case the Life Insured is suffering from an illness that may lead to the death of the life insured within six months of diagnosis, according to the opinion of a Registered Medical Practitioner and the company’s appointed doctor, the insured become entitled to receive 50% of the Guaranteed Maturity Sum Assured (up to the maximum cumulative amount of Rs 10 Lacs) immediately upon request from the policyholder, subject to approval of the claim filed.
It is an additional bonus amount paid as one time on death or surrender or maturity (whichever is earlier) on a condition that the policy is premium paying for at least 10 continuous years.
No loan can be availed under this policy.
This policy does not lapse after it has acquired the surrender value and it will become Reduced Paid Up that can be revived within 2 years from the due date of the first unpaid premium.
This policy acquires a surrender value on payment of first three years’ premium. Surrender benefit is higher of Special Surrender Value or Guaranteed Surrender Value.
|Age (as on last birthday)||18 Years||60 years (for 10 years PPT) 55 years (for 15 years PPT) 50 years (for 20 year PPT) (PPT: Premium Paying Term)|
|Age at Maturity||-||100 Years|
|Policy Tenure||-||Up to 100 Years of age of the life insured|
|Premium Paying Term||10/15 Years||20 Years|
|Premium Paying Mode||Monthly, Quarterly, Semi Annually & Annually||-|
|Premium Amount||Rs 8,500||No Limit (subject to underwriting)|
|Guaranteed Maturity Sum Assured||Rs 50,000||No Limit (subject to underwriting)|
|Freelook Period||15 Days from the receipt of the policy||-|
|Grace Period||30 Days (15 Days for monthly mode)||-|
The following riders are available with this plan for the payment of an additional premium.
The plan offers flexibility to choose among the 3 Bonus Options:
Max Life Whole Life Super Plan is eligible for Tax benefits as stated:
(Subject to the provisions stated therein.)
Let us understand the Plan with Pratiskshit’s example:
Pratikshit Sharma is a 35 year old married person having a child who is 1 year old. Pratikshit wants to create a legacy for his son by saving sytematically. He also wants to create a corpus/fund from where he can withdraw money in case financial exigencies. He decided to buy Max Life Whole Life Super Plan with a Guaranteed Maturity Sum Assured of Rs. 18.66 Lacs, and Premium Payment Term of 20 years. His Annual Premium comes out to be Rs. 50,000 (without taxes, levies and loading extra). The Bonus Option chosen is Paid - Up Additions.
MAX LIFE WHOLE LIFE SUPER OFFERS INCREASING DEATH BENEFIT AND LIQUIDITY THROUGH BONUS OPTION OF PAID - UP ADDITIONS
Pratikshit gives Rs. 10 Lacs and gets on Maturity (@ 4%) = Rs. 31.6 Lacs; Pratikshit gets on Maturity (@ 8%) = Rs. 1.48 Crores.
(Note: The non - guaranteed assumed rates of returns chosen in the above example are 4% and 8% and the mode of premium payment is Annual.The Cash Value, Death Benefit, Maturity Benefit will change (reduce) if the customer withdraws money from the policy (by surrender of Cash Value of PUA) in between the policy term).