Max Life Insurance has launched a new insurance scheme named Max Life Smart Wealth Income Plan. It is a non-linked participating individual life insurance scheme.
This is a great option for the future, wherein you will get the benefit of an additional income when you need it the most.
This scheme ensures that the needs of your family are met through financial support.
This is a guaranteed money back plan. Let us know 5 big and important benefits of this scheme.
Choose any of the 3 options
Max Life Smart Wealth Plan provides the flexibility to the customers to choose the plan according to their needs.
This plan will allow customers to choose between ‘Early Income’, ‘Early Income with Guaranteed Money Back’ or ‘Deferred Income’ option.
All these options come with inbuilt guarantee in the form of Guaranteed Income / Guaranteed Money-Back under all types. You will also get cash bonus.
Guaranteed income for 25 years
Guarantees will be paid as Guaranteed Income in case of ‘Early Income’ and ‘Deferred Income’ for up to 25 years or till the end of the policy term, whichever is less.
Whereas in case of ‘Early Income with Guaranteed Money Back’ variant, it will be paid in the form of 3 ‘Guaranteed Money Back’ at fixed intervals.
The survival benefit (Cash Bonus and Guaranteed Income) can be opted accrually at any point of time during the policy term as per the requirement.
The Policyholder can withdraw the earned ‘Cash Bonus/Guaranteed Income’ partly/completely at any time during the policy term.
unpaid survival benefit
If the Unpaid Survival Benefit is not availed by the policyholder during the policy term, it will be given along with the plan benefit at the time of discontinuance of the policy due to death, maturity or surrender.
The acronym survival benefit will be credited (and paid) by the RBI at an interest rate equivalent to the reverse repo rate posted on its website and this rate will be reviewed annually.
cover till the age of 100
According to Max Life Insurance, this plan offers the facility to avail life insurance till the age of 100 years, 85 years or 75 years.
There are three types of discounts/rebates available under the plan.
Existing Max Life subscriber (1st year), Female Life (all premiums payable) and higher Sum Assured on Maturity discount is applicable under this plan.
Talking about more benefits, customers can add a separate rider cover by paying an additional premium.
This ensures that the survival and maturity benefits will continue to be paid out if the policy chooses to continue with the benefits.
The death benefit under this plan varies with the policy continuation benefit option.
The company has said that life is about fulfilling your dreams.
As well as for your loved ones. According to the company its newly introduced ‘Max Life Smart Wealth Income Plan’