Best Investment Plans
  • Guaranteed Tax Savings

    Under sec 80C & 10(10D)
  • Life Cover

    10 times of Annual Premium
  • Zero LTCG Tax

    Unlike 10% in Mutual Funds

*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

Max Life Maxis Super Plan

Max Life Maxis Super Plan is a Unit Linked Insurance plan with dual benefit of wealth maximization and life insurance coverage under a single plan

Key Features

  • It is a ULIP plan with Limited Pay option of premium payment
  • 11, 15 or 20 times the annual premium can be chosen as the Sum Assured as per requirement based on the age of the insured
  • There is a Dynamic Fund Allocation option, under which the funds are initially maintained in Growth Super Fund and gradually transferred to Secure Fund towards policy maturity.
  • This option maintains a specified ratio of fund value in Growth Super and Secure Fund which changes with increasing policy term
  • The following funds are available for investment
    • Growth Super Fund
    • Growth Fund
    • Balanced Fund
    • Conservative Fund
    • Secure Fund

Benefits

  • The insured will get the total Fund Value on Maturity which can be taken in instalments over a period of 5 years through the Settlement Option
  • On death of the policyholder, Sum Assured + Fund Value subject to a minimum of 105% of all premiums paid till death is payable
  • Income tax benefit on the premium paid as per Section 80C and on claims under Section 10(10D) of the Income Tax Act.

Product Specification:

 

Minimum

Maximum

Entry Age (Last Birthday)

18 years

 55 years

Maturity Age (Last Birthday)

-

70 years

Policy Term (PT) in years

15

Premium Paying Term (PPT) in years

7 Pay or 10 Pay

Yearly Premium

35,000

No limit

Premium Payment Frequency

Annual

Sum Assured

385,000

No limit

Details About Premium

Annual Premium in Rupees and Benefit Illustration for a term and PPT of 20 years

Age (years)

Premium

7 Pay

10 Pay

Fund Value @ 4%

Fund Value @ 8%

Fund Value @ 4%

Fund Value @ 8%

30

50,000

404,020

654,631

580,654

884,937

35

75,000

591,628

963,874

856,579

13,09,333

Policy Details

  • Grace Period: 30 days grace is allowed for premium payment after which the policy lapses
  • 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 Linked Discontinued 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
  • 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

  • 2 free Partial withdrawals are allowed every year after 5 completed policy years with a minimum value of Rs.5,000
  • 12 free Switches are allowed every year for switching between funds
  • 6 free Premium Redirections are allowed every year for redirecting future premiums into another fund

Exclusions

  • The benefit paid in case of suicide within 12 months of policy inception or revival is the fund value as on that date.

Documents Required

Policyholder has to fill up an ‘Application form/ proposal form’ with accurate medical history and submit KYC documents.

Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Average Rating
(Based on 0 Reviews)
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Max Life Maxis Super Plan Reviews & Ratings

0 / 5 (Based on 7 Reviews)
(Showing Newest 7 reviews)
Parul
Punjab, August 02, 2021
Inexpensive term plan
My friend is 30 year old and I am 25 years old and noticed a difference in our term plan price. I visited Policybazaar and read some blogs there. I found out that term plans are cheaper if you buy at young age. I am glad to buy this plan at the right time.
Amrita
Chail, August 02, 2021
Tax savings
I recently bought a term insurance policy from the website of Policybazaar. My plan has amazing features and some additional benefits due to an addon. The best part is I can also enjoy a tax rebate. I am so glad to buy this plan.
Pratap
Niwari, August 02, 2021
Purchased Online
My friend asked me to buy a term insurance plan online as it is cheaper and more convenient. I visited the website of Policybazaar and bought a term policy which offers great benefits at cheap rates. My online experience has been great. Thank you team.
Anurag
Modinagar, August 02, 2021
Protection against COVID
The pandemic had me worrying about the future of my family in my absence. I have been searching for a pure insurance policy to safeguard my family against any eventuality. With the help of Policybazaar now I my family is secure as a bought a specialized term plan made to help family of the policyholder.
Kashish
Meerut, August 02, 2021
Best customer service
I did not understand much about insurance but I knew one thing that I needed to secure the future of my family. I took help from the team of Policybazaar and they suggested me what would be best for me. I am happy with my plan. Thank you so much team.
Komal
Palwal, August 02, 2021
Huge coverage
I recently bought a term plan from the website of Policybazaar and I am happy with the product. I got a higher coverage term plan with additional benefits and at cost effective price. Now I am worry free for the future security of my family in my absence. Thanks.
Harisha
Gurgaon, August 02, 2021
Quick to buy
My friend suggested me to buy a term insurance plan online. I visited the website of Policybazaar and it took me about half an hour or maybe less to buy the plan online. The experience was smooth and I am happy with my plan. Kudos team.
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