Max Life Whole Life Super Plan

Max Life Whole Life Super Plan is whole life insurance plan. The plan provides Life time cover with a minimum premium paying period. Additionally, this plan also provides the flexibility to withdraw money to support major or minor events without having to surrender your policy.

Key Features

  • Guaranteed life term cover
  • Flexible bonus options
  • Flexible paying period

Benefits

  • Maturity benefit
Once the life assured turns 100, then on policy anniversary, below will be paid Guaranteed Maturity Sum Assured + Accrued paid-up additions (if any) + Terminal Bonus (if any).
  • Death benefit
Upon death of the life assured the following will be paid to the nominee, Guaranteed death benefit, accrued bonus and terminal bonus if any.
  • Tax benefit
Life Insurance premiums paid up to Rs. 1, 50,000 are allowed as a deduction from the taxable income each year under section 80C.

Add-ons

  • Rider benefit
  • Max Life term plus rider
  • Max Life Accidental Death and Dismemberment Rider
  • Max Life Waiver of Premium Plus Rider

    • Am I eligible?

    PARAMETER MINIMUM MAXIMUM
    ENTRY AGE 18 60
    POLICY TERM - 100
    AGE OF MATURITY - 100
    SUM ASSURED 50,000 NO LIMIT
    PREMIUM PAYEMENT TERM 10 20
    PAYMENT TERMS ANNUAL, HALF-YEARLY, QUARTERLY, MONTHLY

    What if?

    • I am unable to pay on time
    If the policy holder stops paying the premium, then all benefits of the policy will stop after the grace period ends. The policy can be reinstated within 2 policy years from the date of discontinuance after paying all the unpaid premiums.
    • I stop the payment
    If the policy has acquired surrender value then it is converted to Guaranteed surrender value else the policy is lapsed.
    • I wish to take a loan
    Loan facility is not available for this policy.

    Exclusions

    • No policy of life insurance shall be called in question on any ground whatsoever after the expiry of three years from the date of the policy, i.e. from the date of issuance of the policy or the date of commencement of risk or the date of revival of the policy or the date of the rider to the policy whichever is later.
    • A policy of life insurance may be called in question at any time within three years from the date of issuance of the policy or the date of commencement of risk or the date of revival of the policy or the date of the rider to the policy, whichever is later, on the ground of fraud.