Max Life Platinum Wealth Plan

Max Life Platinum Wealth Plan is a unit-linked non-participating individual life insurance plan that offers comprehensive life insurance coverage and investment benefits. It provides you with the flexibility to choose your premium payment term and policy term, as well as your investment strategy. The plan also offers guaranteed loyalty additions and guaranteed wealth boosters, which can help to further enhance your policy fund value.

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Eligibility Criteria of Max Life Platinum Wealth Plan

Some general criteria that individuals typically need to meet while buying the Max Life Platinum Wealth Plan are mentioned below:

Eligibility Criteria Premium Payment Term Details
Entry Age Single/ Limited Pay 91 days – 60 years
Regular Pay 91 days - 55 years
Maturity Age Single/ Limited Pay 18 – 70 years
Regular Pay 18 – 65 years
Premium Payment Term Single Pay Pay Only One at Inception of Policy
Limited Pay Pay for 5 Years from Inception of Policy
Regular Pay Pay Regularly Every Year Throughout the Policy Term from the Inception of the Policy
Policy Term Single Pay 10 years
Limited Pay 10 – 20 years
Regular Pay 10 – 20 years
Annualised Premium Single/ Limited/ Regular Pay Rs. 2 lakhs – No Limit
Premium Payment Mode Single Pay One-Time Premium Payment
Limited Pay Yearly/ Semi-Annually/ Quarterly/ Monthly Premium Payment for 5 years
Regular Pay: Yearly/ Semi-Annually/ Quarterly/ Monthly Premium Payment Till Policy Term
Sum Assured Single Pay 1.25 × Single Premium
Limited/ Regular Pay Higher of:
  • 10 × Annualised Premium or
  • 0.5 × Policy Term × Annualised Premium

Features of Max Life Platinum Wealth Plan

The key features of this best ULIP Plan are as follows:

  1. Comprehensive Coverage 

    Plan offers a life cover of 10 times of the annual premium (for regular and limited pay) from base term plan. You can also avail additional life coverage with Max Life rider. 

  2. Option to choose policy term and premium payment term as per your needs 

    Pay premium amounts for a limited time i.e., 1 to 5 years or full policy term. The policy term options are available from 10 to 20 years. 

  3. Flexibility in selecting funds and investment strategies 

    Option to choose from 6 fund options with different risk levels. You can also choose from 2 fund investment strategies of Dynamic fund allocation and Systematic transfer plan to secure your investment from market volatility. 

  4. Guaranteed Additions

    Get guaranteed loyalty additions and wealth boosters (guaranteed) to enhance the fund value of the plan.

  5. Systematic Transfer Plan (STP)

    This is a way to invest your annual premium in a systematic way. It helps you to replicate a rupee cost averaging method, which means that you invest the same amount of money each month, regardless of the market conditions. This can help you to reduce your risk and improve your chances of getting a good return on your investment.

    • Systematic Transfer Plan is only available for single premium policies or policies taken with annual mode. 

    • This means that you have to pay the entire premium in one lump sum or in 12 equal instalments.

    • When you first take out the policy, the entire premium will be allocated to the Secure Plus Fund. 

    • On each subsequent monthly anniversary, 1/13 of the units in the Secure Plus Fund will be transferred to the Growth Super Fund. 

    • This process will continue until all of the units in the Secure Plus Fund have been transferred to the Growth Super Fund.

  6. Dynamic Fund Allocation

    Dynamic Fund Allocation is an investment strategy that invests more in equity funds in the early years of your policy and then gradually shifts to more conservative funds as your policy matures. This is done to help you get the most out of your investment while also managing your risk. 

    • You can only choose the Dynamic Fund Allocation option at the inception of your policy. 

    • Once you have chosen this option, the assets under management in your policy will be maintained in a pre-defined proportion between the Growth Super Fund and the Secure Fund. 

    • The proportion of assets in each fund will change depending on the number of years left to maturity.

  7. Premium Reduction Post Lock-In Period

    You can once reduce your premium by up to 50% of the original annual premium after the 5-year lock-in period has ended. The reduced premium must still be at least the minimum premium limit.

Benefits of Max Life Platinum Wealth Plan

Max Life Platinum Wealth Plan is one of the best investment options that provide you with the following benefits:

  • Maturity Benefit: You will get the fund value on the date of maturity as a maturity benefit only if you have exercised the settlement option.

  • Death Benefit: In case of your unfortunate death during the policy term, your nominee/ beneficiary will receive the higher of the following:

    • Sum Assured (minus) any partial withdrawals

    • Fund Value on the Date of Death

    • 105% of Total Premiums Paid

  • Guaranteed Loyalty Additions: At the end of each policy year, the company will add 0.10% - 0.55% of the fund value to the fund in the form of additional units. The benefits are added at the end of every policy year from the end of the 10th policy year.

  • Guaranteed Wealth Boosters: In addition to the guaranteed loyalty additions, the company will also pay you wealth boosters of 2% of the fund value. 

  • Wealth boosters are added in the form of additional units in your fund from the end of the 10th policy year and after every 5 policy years there onwards. 

  • The percentage of the fund value that is added as a wealth booster is determined by the premium paid by you.

Investment Fund Options Under Max Life Platinum Wealth Plan

The list of ULIP funds available under the Max Life Platinum Wealth Plan is mentioned in the table below:

Investment Fund Name Risk Profile
High Growth Fund Very High Risk
Growth Super Fund High Risk
Growth Fund High Risk
Balanced Fund Medium Risk
Conservative Fund Low Risk
Secure Fund Low Risk
Secure Plus Fund Low Risk

Riders Available Under Max Life Platinum Wealth Plan 

Max Life Partner Care Rider: This rider provides a lump sum benefit to the nominee in the event of your untimely death. 

  • The lump sum benefit is equal to the sum of all future premiums payable under the base policy or until the life insured attains the age of 60 years, whichever is earlier.

  • The rider is available for both limited pay and regular pay policies.

  • The rider benefit cannot exceed the death benefit of the base policy.

Policy Details of Max Life Platinum Wealth Plan

The policy details of the Max Life Platinum Wealth Plan are as follows:

  1. Policy Surrender: 

    If you surrender your policy during the first 5 years, the fund value and top-up fund value (if any) will be transferred to a discontinued policy fund. The surrender value equivalent to the discontinued policy fund value will only be payable after the lock-in period is complete. 

    After the lock-in period, the surrender value will be at least equal to the fund value on the date of surrender.

  2. Free Look Period:

    You have 15 days (30 days if the policy is sourced through Distance Marketing modes) to review the terms and conditions of your policy from the receipt date of policy.  If you disagree with any of the terms and conditions, you can return the policy and get a refund. 

    The amount of the refund will be equal to the non-allocated premium (plus) the charges levied by cancellation of units (plus) the fund value on the date of cancellation (minus) the charges deducted towards mortality and rider benefit, medical examination expenses, and stamp duty.

  3. Settlement Option:

    You can choose to have your policy settled over a period of 5 years after maturity. During this time, the insurance company will continue to manage your funds and make periodic payments to you. You will still be charged fund management fees, and there will be a risk cover of 105% of the total premiums paid. You can also choose to switch funds during the settlement period.

Exclusions of Max Life Platinum Wealth Plan

The suicide exclusion in the Max Life Platinum Wealth Plan states that the insurance company will not pay the death benefit if the policyholder commits suicide within 12 months of the policy inception or the date of any revival of the policy.

There are a few exceptions to the suicide exclusion. For example, if the policyholder is diagnosed with a terminal illness and commits suicide within 12 months of the diagnosis, the insurance company will pay the death benefit.


  • What is a Max Life Platinum Wealth Plan?

    The Max Life Platinum Wealth Plan is a comprehensive financial product offered by Max Life Insurance Company. It is designed to help individuals create and grow their wealth while providing life insurance coverage. This plan offers a combination of investment and protection features, allowing policyholders to secure their financial future while potentially earning market-linked returns on their investments.
  • What is the return rate of Max Life Smart Wealth Plan?

    The return rate of the Max Life Smart Wealth Plan depends on the performance of the underlying funds. The plan offers a choice of four underlying funds, each with a different risk profile and expected return.
    • The Secure Plus Fund is a low-risk fund that invests in debt securities. The expected return of the Secure Plus Fund is around 6-8% per annum.

    • The Growth Super Fund is a higher-risk fund that invests in equity securities. The expected return of the Growth Super Fund is around 12-18% per annum.

  • What is Wealth Plan in life insurance?

    A wealth plan in life insurance is a type of life insurance policy that combines life insurance coverage with investment opportunities. This type of plan can be a good option for people who are looking to protect their loved ones financially in the event of their death while also growing their wealth over time.
  • What is the Platinum Plus plan?

    The Platinum Plus plan is a unit-linked insurance plan (ULIP) offered by Max Life Insurance. It is a non-participating plan, which means that the policyholder does not participate in the profits of the underlying funds. The Platinum Plus plan is a good option for people who are looking for a life insurance plan with investment opportunities.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
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*Tax benefit is subject to changes in tax laws
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