Max Life Guaranteed Income Plan

Max Life Guaranteed Income Plan offers guaranteed benefits from the very outset. The plan provides a Guaranteed Income for a period of 10 years after the Policy Term. The income payable monthly in the last 5 years of the payout period is twice the income payable monthly in the first 5 years of the payout period. This is followed by a one-time guaranteed Terminal Benefit payable at the end of the Payout Period. Additionally, it ensures that the lifestyle of your family is protected against any exigencies during the Policy Term through death benefit in the plan.

Key Features

  • Guaranteed Monthly Income –for 10 years
  • Guaranteed Double Income –in the remaining 5 years
  • Monthly income flexibility –policy holder can take it as a lump sum
  • Death Benefit Option –nominee can choose either Lump sum Death Benefit or Income for 10 years post death

Benefits

  • Income Tax benefit
Monthly income payable during the 10 year pay-out period, post end of policy term.
  • Death benefit
In case of death of the Life Insured within the Policy Tenure, the nominee would receive, lump sum Death.
  • Survival Benefit
Income Benefit + Terminal Benefit, will be paid to the policy holder on survival.

Am I eligible?

PARAMETER MINIMUM MAXIMUM
Entry Age 25 60
Policy Term 6 12
Annuity payment modes EQUAL TO POLICY TERM
Payout modes ANNUAL

What if?

  • I am unable to pay on time
The policy will lapse if the premium is not paid within the 30 days from the date of premium due date.
  • I stop the payment
The policy can be surrendered after 4 years without any exit charges.
  • I wish to take a loan
There is no loan facility in this plan.

Exclusions

  • Suicide Exclusion
  • Higher of Special Surrender Value or total premiums paid (inclusive of extra premiums (if any) but exclusive of taxes, cesses & levies (if any)), in case the policy has acquired a surrender value
  • Total premiums paid (inclusive of extra premiums (if any) but exclusive of taxes, cesses & levies (if any)), in case the policy has not acquired a surrender value