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.
Save Upto ₹46,800 in tax under Sec 80C
Inbuilt Life Cover
Tax Free Returns Unlike FD+
*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
|
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 |
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 |
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.
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.