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Max Life launches comprehensive life insurance savings plan with guaranteed returns

Max Life launches comprehensive life insurance savings plan with guaranteed returns

Max Life launches comprehensive life insurance savings plan with guaranteed returns
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By CNBCTV18.com Aug 27, 2020 8:36:49 AM IST (Updated)

Max Life Insurance has recently announced the launch of ‘Max Life Smart Wealth Plan’, a comprehensive life insurance savings plan with guaranteed returns.

Max Life Insurance has recently announced the launch of ‘Max Life Smart Wealth Plan’, a comprehensive life insurance savings plan with guaranteed returns.

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Combining protection and savings into a simple and flexible solution, ‘Max Life Smart Wealth Plan’ offers customers guaranteed returns to help meet important life-stage needs and achieve a financially secure future, Max Life said in a statement.
Commenting on the product, Aalok Bhan, Director and Chief Marketing Officer, Max Life said, “Offering superior flexibility via four different variants targeted at specific life-stage needs such as marriage, parenthood, child’s education and retirement, ‘Max Life Smart Wealth Plan’, with its guaranteed returns can help achieve key life goals while enabling a financially secure future.”
‘Max Life Smart Wealth Plan’ offers the option to choose from four different variants namely – lump-sum, short term income, long term income and whole life income.
All four variants come with distinct maturity benefits depending on the variant chosen along with comprehensive life cover during the policy term, according to Max Life.
  • Lumpsum option:
  • Guaranteed maturity benefit at the end of the policy term makes this variant ideal to plan for milestone-based life events like child education or marriage
  • Short Term Income option: Guaranteed income benefit for 6, 8, 10 or 12 years makes this an ideal option to plan for recurring expenses in future.
  • Long Term Income option: An ideal option to plan for retirement, this variant offers guaranteed income for 25 years or 30 years and all the premiums paid are returned to the policyholder at the end of income payout period.
  • Whole Life Income option: This single premium variant offers a joint life cover and guaranteed, lifetime income till the death of the last survivor.
  • Additionally, there is an option to enhance protection through need-based riders on the policy. Riders such as ‘Max Life Waiver of Premium Plus Rider’, ‘Max Life Accidental Death and Dismemberment Rider’ and ‘Max Life Term Plus Rider’ can be added to base policy under the ‘Max Life Smart Wealth Plan’.
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