The Newly Introduced SHIKSHA PLUS SUPER by Max Life Insurance Promises to Hone and Support the Versatile Talents in Your Child

Max Life Insurance showcases parent like care by coming up with SHIKSHA PLUS SUPER, a Unit Linked Child Plan that fulfills the parents' dream of making their children all rounder. As the name suggests, Max Life SHIKSHA PLUS SUPER is a comprehensive child plan that offers resources for the complete development of your child irrespective of whether or not the resource provider is present. This product marks the company as complete in terms of life stage based needs segment. 

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Investing in your child's future:A wise decision & a loving choice
  • Insurer pays premium in case of loss of life of parent

  • Create wealth for child’s aspirations

  • Tax Free maturity amount+

  • 12+ plans available

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58.9 Million
Registered Consumer
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Insurance Partners
26.4 Million
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In-built life cover
  • Insurer pays premium in case of loss of life of parent

  • Create wealth for child’s aspirations

  • Tax Free maturity amount+

  • 12+ plans available

Nothing Is More Important Than Securing Your Child's Future

Invest ₹10k/month your child will get ₹1 Cr Tax Free*

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We are rated~
rating
58.9 Million
Registered Consumer
51
Insurance Partners
26.4 Million
Policies Sold

Being an all rounder is need of the hour; parents of the current age have started believing in the fact and consider academic excellence as only a part of overall development. Max life insurance after taking cues from the current mindset of parents have come up with a product that hones the versatile personality of children and supports them to excel in wide range of areas, including education. This offering is aimed at parents who wish for an overall development of their children and security of their future in times of uncertainty. 

What all does the plan offer? 

  • Lump sum payment in case of untimely death: In case of an untimely demise of the parent (the life insured), Max Life Insurance will offer death benefit by paying lump sum benefit of higher of Sum Assured or 105% of all premiums paid. 

  • Offering support for school education: Besides getting the lump sum death benefit, the beneficiary is authorized to receive 10% of Sum Assured every year, subject to a maximum of 10 and a minimum of 3 such installments, to cover for the annual education expenses of the child. 

  • Premium Financing: Max Life will maintain the Unit Account until maturity of the policy. Max Life will also finance all forthcoming premiums as and when due, to boost the education fund thereby ensuring that the purpose for which the policy was primarily bought is realized. 

  • Assured Loyalty Additions to raise Maturity Value: Post the 11th Policy Year and every year thereafter, the insured is offered the benefit of Assured Loyalty Additions to further increase the maturity value. 

  • Partial Withdrawal: The policy holder gets the facility of partial withdrawal twice a year after the 5th policy year from the fund value for supporting the skills that develop children extravagantly in a specific area. The maximum limit for the partial withdrawal is 50% of the Fund Value as on the date of partial withdrawal per policy year. 

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Invest ₹10K/Month YOU GET ₹1 Crores* For Your Child View Plans
Invest ₹8K/Month YOU GET ₹80 Lakhs* For Your Child View Plans
Invest ₹5K/Month YOU GET ₹50 Lakhs* For Your Child View Plans
Standard T&C Apply *

Investment Flexibility

SHIKSHA PLUS SUPER gives policyholders an option to invest premiums in five investment funds offered by Max Life Insurance with a choice of Dynamic Fund Allocation and Systematic Transfer Plan. Dynamic Fund Allocation exempts the policyholders from selecting the investment funds manually as this one automatically invests between equity and debt structured funds in a pre-decided proportion that keeps getting revised as policy approaches maturity. This investment strategy aims to protect their fund from any risks by raising the fund allocation in debt funds as policy nears maturity. Systematic Transfer Plan, on the other hand, imitates the rupee cost averaging method hence letting the insured to gain from the market volatility. 

*All savings are provided by the insurer as per the IRDAI approved insurance plan.
*Tax benefit is subject to changes in tax laws. Standard T&C Apply
^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.
#The lumpsum benefit is calculated if policyholder invested ₹10000 monthly for 10 years in the fund with a policy term of 20 years. This Point To Point past performance data of last 10 years has been used to illustrate a scenario for the customers benefit. It is assumed that the past 10 years returns would have also been delivered in last 20 years. This is not guaranteed and not in anyway indicative of what the customer may actually get 20 years from now. The investment is subject to market risk and the risk is borne by the policyholder.
+Returns Since Inception of LIC Growth Fund
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.

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*Standard T & C Apply
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Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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