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

Best ULIP Plans
  • Guaranteed Tax Savings

    Guaranteed Tax Savings^

    Under sec 80C & 10(10D)
  • savings

    ₹1 Crore

    Invest ₹10k Per Month*
  • Zero LTCG Tax

    Zero LTCG Tax^

    Unlike 10% in Mutual Funds
In-built life cover
Top performing plans with High Returns*
Invest ₹10K/month & Get ₹1 Crore returns*
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58.9 Million
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Policies Sold

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.

People also read: max life mid cap fund

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.

*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
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

Ulip Insurer2
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Max Life Maxis Super Plan Reviews & Ratings

/ 5 (Based on 23 Reviews)
(Showing Newest 10 reviews)
Sumit
Rajasthan, July 22, 2024
Incredibly Easy
PolicyBazaar website made it incredibly easy to understand the different types of insurance and what each policy offered.
Mana
Maharashtra, July 22, 2024
Very Impressed With Impressed
I brougtht a term plan from the Policybazaar website and what impressed me most was the transparency and the detailed information of available at the platform.
Kabir
Maharashtra, July 22, 2024
Perfect and Simple
Found a perfect and simple plan from Kotak Life on Policybazaar. The detailed comparison made it easy to decide.
Adnan
Maharashtra, July 22, 2024
Detailed and Reliable
Policybazaar truly offers some of the most affordable premiums on term insurance plans online.
Shafibul
Andhra Pradesh, July 22, 2024
Affordable and Comprehensive
With HDFC Lifes C2P Super Term Insurance, I found an affordable and comprehensive solution to safeguard my family. As a single mother, its crucial to have high sum assured at an affordable premium. HDFC Life delivered exactly what I needed.
Akkash
Uttar Pradesh, July 22, 2024
Comprehensive and Trustworthy
Choosing HDFC Lifes Click 2 Protect Super was the best decision. The comprehensive coverage, including disability and disease protection, made it a trustworthy choice.
Yognder
Uttar Pradesh, July 22, 2024
Easy Application Process
Aegon iTerm Prime Term Plan had an easy application process, and the support team was very helpful. Now I feel my familys future is secure.
Gulab
West Bengal, July 22, 2024
Perfect for Growing Families
As our family grows, Aditya Birla term plan provided the extensive coverage we needed. The additional benefits like accidental death cover were very reassuring.
Rajiv
Gujarat, July 22, 2024
Easy Comparison
The comparison tool is very effective and easy to use at PB.
Raghunath
Rajasthan, July 22, 2024
User Friendly and Affordable
PNB MetLifes Online Term Plan was user-friendly and offered affordable premiums. It was the perfect choice for someone like me, balancing multiple financial responsibilities.
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