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    Max Life Insurance launches ULIP with flexibility of premium payment term option

    Max Life Insurance launches ULIP with flexibility of premium payment term option

    Max Life Insurance launches ULIP with flexibility of premium payment term option
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    By CNBCTV18.com  IST (Published)

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    Max Life Insurance Company on Thursday announced the launch of 'Max Life Flexi Wealth Plus' -- a unit linked non-participating individual life insurance plan.

    Max Life Insurance Company on Thursday announced the launch of 'Max Life Flexi Wealth Plus' -- a unit linked non-participating individual life insurance plan.
    "Under this plan, one can personalize their unit-linked insurance plan (ULIP) based on individual risk appetites and convenience," Max Life Insurance said in a statement. A range of 10 funds and 5 investment strategies are available to choose from. Customers can choose one among the five available investment strategies, at no extra cost.
    "While one of these is a self-managed strategy that lets the customer choose any of the fund(s) in any proportion, the other four
    The product is aimed at offering enriched returns along with innovative engagement initiatives to tap the unexplored needs in the market.
    The product includes two variants-
    • Wealth variant where customers have the option to choose from multiple options of single, limited, and regular pay in different combinations to grow wealth while securing their family.
    • Whole life variant that allows choice from multiple limited pay options (between 7 to 20 years), with death cover for whole life.
    • ‘Return of Mortality Charges’ are also available where all the mortality charges (in terms of absolute amount and excluding any extra mortality charge or any applicable taxes, cesses and levies) deducted during the term will be added to the fund value at maturity.
      12 free partial withdrawals are allowed within funds in a year, subject to the request placed after lock-in period and the amount being in accordance of the terms and conditions of the policy.
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