Best Wealth Creation Investment Options from Max Life

Max Life Insurance Company Limited is one of the most well-known private insurance companies operating in the Indian market. Max Life Insurance Company Limited is a joint venture between Mitsui Sumitomo Insurance Company Limited and Max India Limited. It is providing a wide range of products for the creation of wealth. As per IRDA Annual Report 2016 - 2017, the claim settlement ratio of Max Life Insurance is 97.81%. Life is very uncertain and you cannot predict your tomorrow. That is why it is important that you buy an insurance cover and also invest somewhere at the same time to fulfill the future requirements.

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Unit linked insurance plan is the combination of insurance and investment. ULIPS have dual benefits. In ULIPs, the money that is paid by the policyholder is partially invested in equity, debt, and money market securities. The remaining amount is used to provide the life cover to the policyholder. It is one of the best investment options present in the market. ULIP helps to create wealth in the future. It is a long-term investment so it should be made wisely after considering various important factors. It is the best investment choice for the young investors. When people start earning, it is possible for them to save money from their income for the future requirements. These days, you can easily buy a ULIP plan via online medium with just a few taps. So if you are a young investor and looking for an investment option that helps to create wealth for the future then you should check unit linked insurance plans from one of the best insurance companies, that is Max Life Insurance Company Limited.

Check out some of the best wealth creation plans from Max Life Insurance Company Limited:

  • Max Life Fast Track Super Plan: Max Life Fast Track Super Plan is a plan from Max Life Insurance providing various insurance options and many fund options to invest. This is one of the best plans as it provides you with an opportunity to invest in any fund option out of 6. High growth fund, growth super fund, growth fund, balanced fund, secure fund, and conservative fund are some of the fund options available in the plan. A person is allowed to make 12 free fund switches in a year. Under section 80C, section 80D, section 80DD, section 10(10D) of the Income Tax Act, various tax benefits are provided as per the prevailing government laws. You can make 2 partial withdraws without paying anything ever year after the completion of a lock-in period of 5 years. This plan provides you with death benefit, maturity benefit, and tax benefits. The minimum eligibility age required is 18 years. The maximum eligibility age required for single pay and 5 pay is 60 years. The maximum eligibility age required for regular pay is 50 years. The maximum maturity age is 70 years. The two policy terms that are available in the plan are 10 years and 20 years. The three term options available under this plan for the premium payment are regular pay, 5 pay, and single pay. Annual, half-yearly, quarterly, and monthly are the various modes of premium payment; you can choose as per your requirement. The two investment strategies that are available include systematic transfer plan and dynamic fund allocation. The minimum annualized premium is Rs. 1,00,000 in case of single pay. The minimum annualized premium is Rs. 50,000 in case of 5 pay. The minimum annualized premium is Rs. 20,000 in case of regular pay. For more details, you can check the information brochure that is available on the official website of Max Life Insurance.

  • Max Life Platinum Wealth Plan: Max Life Platinum Wealth Plan is another significant plan from Max Life Insurance. It is a unit linked plan providing additional benefits so that you can fulfill your long-term requirements. This plan provides a death benefit as well as maturity benefit. The death benefit is paid on the death of the insured to the nominees of insured. The maturity benefit is paid at the end of the policy tenure. Max Life Platinum Wealth Plan provides guaranteed loyalty additions. This plan provides you flexibility for the payment of the premium. The three premium payment term options are regular pay, limited pay, and single pay. Annual, half-yearly, quarterly and monthly are the premium payment modes available in this plan. In single pay, you pay the premium amount one time. In limited pay, you pay the premium amount for 5 years. In regular pay, you pay the premium amount throughout the policy term. The policy term is 10 years for single pay. The policy term is 10 - 20 years for limited pay or regular pay. The minimum entry age required for single pay, limited pay or regular pay is 18 years. The maximum entry age required for single pay or limited pay is 60 years. The maximum entry age required for regular pay is 55 years. The maximum maturity age for single pay or limited pay is 70 years. The maximum maturity age for regular pay is 65 years. High growth fund, growth super fund, growth fund, balanced fund, conservative fund, and secure fund are the fund options available in this plan of Max Life Insurance. The minimum annualised premium amount is Rs. 2,00,000 for all variants. The maximum annualised premium has no limit. Two free partial withdrawals are allowed in a year after the completion of 5 policy years. If you want some additional information then please refer to the information brochure available on the official website of Max Life Insurance.

People also read: max life nfo 2024

  • Max Life Maxis Super Plan: Max Life Maxis Super Plan is one of the best unit linked insurance plans from Max Life Insurance. The aim of Max Life Insurance is to provide dual benefits including life insurance coverage and wealth creation under a single plan. This plan provides a death benefit, maturity benefit, and tax benefits. Max Life Maxis Super Plan has 6 fund options including high growth fund, growth super fund, growth fund, balanced fund, conservative fund, and secure fund. The minimum entry age required for this plan is 18 years. The maximum entry age required is 55 years. The maximum maturity age is 70 years. The policy term is 15 years. The premium payment terms that are available in the plan are 7 years and 10 years; you can choose as per your suitability. The only premium payment mode that is available in the plan is annual. The minimum annualised premium is Rs. 35,000 and the maximum annualised premium has no limit. Maximum two free partial withdrawals are allowed every year after the completion of 5 policy years. You are allowed to make maximum 12 switches in a year without paying additional charges. This plan provides you with the flexibility to choose the insurance cover 10, 15, or 20 times the annual premium which is decided on the basis of protection needs and age. This plan allows for 6 free redirection of premium in a year. The minimum sum assured Rs. 3,85,000 and the maximum sum assured has no limit. If you are looking for detailed information then please refer to the information brochure available on the website of Max Life Insurance.

Conclusion:

Unit linked insurance plan is the combination of insurance and investment. The best thing about a ULIP plan is that it has dual benefits. It is one of the best investment options in the market. It helps to fulfill all the future requirements as it is a long-term investment. The insurance company collects the money from various policyholders and further invests the partial amount into debt, equity, and money market instruments. The remaining amount is used for providing life cover to various policyholders. You should do a lot of research and comparison before investing in any particular ULIP plan. There are various tools available on the online medium that helps to compare various plans. Many insurance companies are providing ULIP plans. You should consider all the important factors before investing in any ULIP plan. You can easily check the reviews of the people about various plans in the market. This will help you to select the best ULIP plan as per your requirement and affordability.

Max Life Insurance Company Limited is the best insurance company working in the market. Max Life Insurance is providing a wide range of products that help to create wealth in the future. Max Life Maxis Super Plan, Max Life Platinum Wealth Plan, and Max Life Fast Track Super Plan are some of the best unit linked insurance plans from Max Life Insurance. These plans help to create wealth for the future. All of these plans have six fund options including high growth fund, growth super fund, growth fund, balanced fund, conservative fund, and secure fund. You can also make 2 free partial withdraws ever year after the completion of lock-in period of 5 years in all of these plans. If you are looking for a plan for your future requirements then you should check these plans once as they are from a well-known private insurance company. The claim settlement ratio of Max Life Insurance is 97.81% according to the Insurance Regulatory and Development Authority (IRDA) Annual Report 2016 - 2017. If you want more information about these plans, refer to the information brochures of these plans available on the website of Max Life Insurance.

Max Life Maxis Super Plan provides a death benefit, maturity benefit, and tax benefits. The minimum eligibility age for this plan is 18 years. The maximum eligibility age is 55 years. The maximum maturity age is 70 years. The policy term is 15 years. Annual is the only premium payment mode available in the plan. Max Life Platinum Wealth Plan provides additional benefits to fulfill your long-term requirements. The minimum eligibility age for this plan for single pay, limited pay or regular pay is 18 years. The maximum entry age for single pay or limited pay is 60 years. The maximum entry age for regular pay is 55 years. The maximum maturity age for single pay or limited pay is 70 years. The maximum maturity age for regular pay is 65 years. For single pay, the policy term is 10 years. For limited pay or regular pay, the policy term is 10 - 20 years. Max Life Fast Track Super Plan provides a death benefit, maturity benefit, and tax benefits. The minimum entry age required for this plan is 18 years. The maximum entry age required for single pay and 5 pay is 60 years. The maximum eligibility age required for regular pay is 50 years. The maximum maturity age is 70 years. The two policy terms that are available in the plan are 10 years and 20 years; you can choose any as per your requirement.

If you are looking for the answer to various questions including:

  • What is the claim settlement ratio of Max Life Insurance?

  • What are the best wealth creation plans from Max Life Insurance?

  • What are the features and benefits of Max Life Fast Track Super Plan?

  • What are the features and benefits of Max Life Platinum Wealth Plan?

  • What are the features and benefits of Max Life Maxis Super Plan?

Then you are at the right place; please refer to the above-mentioned information in order to get answers to your questions.

Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer. Tax benefit is subject to changes in tax laws. *Standard T&C Apply

Past 5 Year annualised returns as on 01-07-2024

^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.

*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
~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.

#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.

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