Max Life Life Gain Premier Plan

Max Life Life Gain Premier Plan is a traditional Endowment Assurance plan which aims to build a corpus for future needs and also provide life insurance cover.

Best Investment Plans
  • Save Upto ₹46,800 in tax under Sec 80C

  • Inbuilt Life Cover

  • Tax Free Returns Unlike FD+

Buy Online & Get upto 4% extra#
Get Guaranteed returns along with life cover
invest in 100% Guaranteed Return Plans Tax benefits under sec 80C & No Tax on returns*
+91
Secure
We don’t spam
Please wait. We Are Processing..
Your personal information is secure with us
Plans available only for people of Indian origin By clicking on "View Plans" you agree to our Privacy Policy and Terms of use #For a 55 year on investment of 20Lacs
Get Updates on WhatsApp
We are rated~
rating
6.7 Crore
Registered Consumers
51
Insurance Partners
3.4 Crore
Policies Sold

Key Features

  • It is a participating plan with limited premium payment option which varies with the policy term
  • Bonuses are declared form the end of 2nd policy year which can be availed in the following 3 options:
  • Purchase Paid-up Additions – the bonus can be used to increase the Sum Assured which also earn additional bonuses
  • Paid in Cash – the bonus can be availed in cash payouts every year
  • Premium Offset – the bonus can be used to offset subsequent premiums
    • Terminal Bonus is also paid after the completion of 10 years on maturity, surrender or death

Benefits

  • On death of the policyholder, Guaranteed Death Benefit + accrued paid-up additions + Terminal Bonus, if any is paid
  • The Guaranteed Death Benefit is higher of 11 times the annual premium or 105% of total premiums paid or Guaranteed Maturity SA chosen
  • On Maturity, Guaranteed Maturity SA + accrued Paid-up Additions + Terminal Bonus, if any is paid
  • There is also the provision of Terminal Illness Benefit where 50% of the SA is paid upfront if the insured is diagnosed with a terminal illness
  • Income tax benefit on the premium paid as per Section 80C and on the claims received as per Section 10(10D) of the Income Tax Act.

Product Specification:

 

Minimum

Maximum

Entry Age (Last Birthday)

18 years

55 years

Maturity Age (Last Birthday)

-

75 years

Policy Term (PT) in years

15, 20, 25

Premium Paying Term (PPT) in years

6, 8, 10, 12

Premium Paying Frequency

Annual, half-yearly, quarterly, monthly

Premium

8500

No limit

Sum Assured

50,000

No limit

People Also Read: Nifty Smallcap 250 Quality 50 Index Fund

Details About Premium

Annual premium in Rupees for SA of 3 lakhs

Term and PPT / Age (years)

35

50

Term = 15 PPT = 6

42,405

45,582

Term = 20 PPT = 6

40,209

44,499

Term = 15 PPT = 8

29,409

30,870

Term = 20 PPT = 8

30,909

33,180

Term = 20 PPT = 10

25,170

26,541

Term = 25 PPT = 12

21,369

23,055

Policy Details

Grace Period: 15 days’ grace period is allowed for premium payment in monthly mode and 30 days in other modes. If policyholder fails to make payment within the grace period, the policy lapses

Policy Termination or Surrender Benefit: Policyholder is allowed to surrender the policy after 2 or 3 full years’ premiums have been paid. The Surrender Value will be higher of the Guaranteed Surrender Value or the Special Surrender Value.

GSV = GSV% of total premiums paid + GSV % of accrued paid-up additions

Free Look Period: If you would not be pleased with the coverage, and terms and conditions of the policy, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there has been no claim.

Inclusions

  • Loan is available under the plan with a minimum of Rs.10,000 and maximum of 50% of the Special Surrender Value

People also read: max life midcap momentum index fund

Additional Features or Riders

  • Max Life Payor Rider is available under the plan

Exclusions

  • In case of suicide committed within 12 months of policy inception or revival higher of  the premiums paid or the Surrender Value is refunded if the policy acquires a Surrender Value or total premiums paid is refunded where the policy has not acquired Surrender Value

Documents Required

Policyholder has to fill up an ‘Application form/ proposal form’ with accurate medical history along with the address proof and other KYC documents. Medical examination may be required in some cases, based on the sum assured and the age of the person.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Please note that the quotes shown will be from our partners
*Tax benefit is subject to changes in tax laws
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

Investment Plan
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Invest More Get More!
You Get
₹1 Crores*
You Invest
₹10K/month
You Get
₹80 Lakhs*
You Invest
₹8K/month
You Get
₹50 Lakhs*
You Invest
₹5K/month
Average Rating
(Based on 0 Reviews)
Investment Plan 3

Investment plans articles

Recent Articles
Popular Articles
SBI NRI Account

07 Feb 2024

The State Bank of India (SBI) NRI account is designed for
Read more
How Thanks giving and Black Friday Affect The Indian Stock Market?

23 Nov 2023

Black Friday and Thanksgiving mark the beginning of the holiday
Read more
Axis Bank NRI Account

11 Oct 2023

The Axis Bank NRI Account is a gateway to seamless banking
Read more
ICICI Bank NRI Account

09 Oct 2023

The ICICI NRI Account is a specialized banking solution designed
Read more
Long- Term Income Plans

11 Sep 2023

Long-Term Income Plans are strategic financial products that
Read more
Best NRE Savings Accounts for NRIs in 2024
India is a growing economy and is getting a lot of global recognition these days. It has shown immense growth in
Read more
Short Term Investments Options
Short-term investments are financial assets that can be easily converted to cash within a short period, typically
Read more
Post Office Monthly Income Scheme - MIS Interest Rate 2024
The Post Office Monthly Income Scheme is a secure and popular investment option in India, backed by the
Read more
How to Change Mobile Number in Post Office Account Online?
Indian Post Payment Bank (IPPB) is the banking division of the Department of Post (Ministry of Communications)
Read more

top
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL