Max Life Forever Young Pension Plan

Max Life Forever Young Pension Plan is a Unit Linked Pension Plan which takes care of income inflows post retirement and ensures good annuity rates through participation in capital markets and also promises guaranteed returns in case to protect against market volatility

  • Peaceful Post-Retirement Life

  • Tax Free Regular Income

  • Wealth Generation to beat Inflation

Invest ₹6,000/month & Get Tax Free Monthly Pension of ₹60,000
Get the best returns & make the most of your Golden years
We don’t spam
Please wait. We Are Processing..
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~
6.7 Crore
Registered Consumers
Insurance Partners
3.4 Crore
Policies Sold

Key Features

  • It is a non-participating Unit Linked plan with Regular and Single Pay premium payment option
  • Guaranteed Additions are added from the end of the 10th year and it increases every subsequent year
  • There are 2 investment options of Pension Preserver and Pension Maximiser
  • The following 2 funds are available for investment:
    • Pension Maximiser Fund
    • Pension Preserver Fund


  • Guaranteed Additions accrue @ 0.50% of the Fund Value and then increase by 0.02% each year subsequently
  • On Maturity, higher of the accumulated Fund Value or 101% of total premiums paid including top-up premiums if any is payable under the Pension Preserver Option
  • Under the Pension Maximiser Option, higher of Fund Value or 110% of total premiums paid including top-up premiums paid if any is payable on maturity
  • On Vesting, the benefit can be used to:
  • Purchase an Immediate Annuity form the entire amount
  • Purchase a Single Premium Pension Plan from the company with the entire amount
  • Extend the vesting date if age is lower than 55 years
  • Commute 1/3rd of the corpus and purchase an Immediate Annuity with the remaining 2/3rd part from the company
    • On death, higher of the Fund Value or 105% of total premiums paid including top-up premiums is payable to the nominee.
    • The nominee can withdraw the entire amount or use it entirely or partly to purchase an immediate annuity or to purchase a Single Premium Pension Plan from the company
    • Income tax benefit on the premium paid as per Section 80CCC and on the commuted part as per Section 10(10A) of the Income Tax Act. Death Benefit is exempted under Section 10(10D) of the Income Tax Act

Product Specification:




Entry Age (Last Birthday)

30 years

65 years

Vesting Age (Last Birthday)

50 years

75 years

Policy term (in years)


Vesting age - 75

Premium Paying Term (in years)

Equal to policy term or Single Pay

Premium Paying Frequency

Yearly, half-yearly, monthly, quarterly


Regular Pay – 25,000

Single Pay – 100,000

No limit

Details about Premium



Policy Term

Fund Value @ 4%

Fund Value @ 8%

40 years


20 years



50 years


15 years



Policy Details

  • Grace Period: 15 days grace period is allowed in monthly mode and 30 days in other modes.
  • Policy Termination or Surrender Benefit: Policyholder is allowed to surrender the policy after 5 completed years. If surrendered before 5 years, the fund value net of discontinuation charge will be credited to the Pension Discontinuance Policy Fund where it will earn a minimum of 4% p.a. growth. After completion of 5 years, the fund value in the Discontinued Policy fund as on that date will be paid to the policyholder. If surrendered after 5 completed policy years, the entire Fund value on the date of surrender is paid without any charges. The Surrender Value should be used to commute 1/3rd part of the corpus and buy an Immediate Annuity form the remaining part or to buy a Single Premium Deferred Annuity with the entire amount 
  • 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.


  • The fund value is paid in case of suicide within one year of policy commencement or revival

Additional Features or Riders

  • Max Life Partner Care Rider is available under the plan which guarantees retirement benefits for the spouse in case of the policyholder’s death
  • Top-ups are allowed to increase the investments with a minimum of Rs.1000
  • Top-up premiums are invested under the ‘Save for Tomorrow’ feature where the policyholder is allowed to increase the amount of top-ups by 5% p.a. subject to a maximum of 150% of the regular premium

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.

*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:-

Secure Your Retirement Today
Start Investing ₹6,000/month
Get Pension ₹60,000/month+
Including Life Cover
View Plan
Pension Plans
+Standard T&A Applied
Pension Plan 1
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Pension Plan 2
Average Rating
(Based on 0 Reviews)
Pension Plan 3
Lic Pension Plan 4

Pension plans articles

Recent Articles
Popular Articles
Best Mutual Funds for Retirement

21 Sep 2023

Planning for a secure and comfortable retirement is a financial
Read more
Mahila Samman Savings Certificate (MSSC)

04 Sep 2023

The Mahila Samman Savings Certificate (MSSC) or Mahila Samman
Read more
Single-Premium Pension Plan

28 Aug 2023

Single-Premium Pension Plan is a type of pension plan in which
Read more
Inflation Impact on Pension

12 Jul 2023

Inflation is an economic process that affects various aspects of
Read more
NPS Contribution

11 Jul 2023

Contribution refers to the funds deposited by individuals or
Read more
NPS Calculator 2023
The NPS calculator helps you calculate the pension, lump sum, or annuity amount that you will receive (as a
Read more
How to Get a 50K Pension Per Month?
Retirement planning should form an essential part of your financial decision-making. As we grow older, job
Read more
Post Office NPS Calculator 2023
National Pension System is a scheme launched by the Government of India that offers stability to all Indian
Read more
NPS Calculator for Government Employees
National Pension Scheme or National Pension System (NPS) is launched by the Government of India for all its
Read more
National Pension Scheme (NPS) – Govt Approved Pension Scheme
National Pension Scheme or NPS scheme is an investment cum pension plan launched by the Indian Government. This
Read more

Download the Policybazaar app
to manage all your insurance needs.