Max Life SIP Plans

Max Life SIP Plans are a type of Unit Linked Insurance Plan (ULIP), which combines life insurance coverage with the potential for wealth creation through market-linked investments. SIP plans, or Systematic Investment Plans, are a popular way to invest in various financial instruments, like ULIPs, in a disciplined and regular manner.

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SIP Benefits
Start SIP with as low as ₹1000
Start SIP with as low as ₹1000
No hidden charges
No hidden charges
Save upto ₹46,800 in Tax
Save upto ₹46,800 in Taxunder section 80 C
Zero LTCG Tax
Zero LTCG Tax^ (Unlike 10% in Mutual Funds)
Disciplined & worry-free investing
Disciplined & worry-free investing

  • Insurance Companies
  • Mutual Funds
Returns
Fund Name 3 Years 5 Years 10 Years
Top 200 Fund Tata AIA 23.15% 27.3%
19.47%
View Plan
Virtue II PNB Metlife 21.78% 23.76%
17.76%
View Plan
Pure Equity Birla Sun Life 18.83% 19.17%
16.34%
View Plan
Growth Opportunities Plus Fund Bharti AXA 17.85% 18.97%
15.65%
View Plan
Pure Stock Fund Bajaj Allianz 17.49% 18.39%
15.52%
View Plan
Blue Chip Fund HDFC Standard 14.09% 14.83%
12.85%
View Plan
Growth Super Fund Max Life 14.38% 15.26%
12.72%
View Plan
Multi Cap Growth Fund ICICI Prudential 15.63% 13.98%
12.51%
View Plan
Equity Fund SBI 14.73% 14.91%
12.42%
View Plan
Growth Plus Fund Canara HSBC Oriental Bank 12.78% 12.27%
10.7%
View Plan

Updated as on February 2024

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  Returns
Fund Name 5 Years 10 Years RSI
Active Fund QUANT 27.80% 23.96%
21.08%
Large and Mid Cap Fund QUANT 23.27% 22.69%
19.64%
Flexi Cap Fund PARAG PARIKH 23.90% 20.22%
20.15%
Large and Mid Cap Fund EDELWEISS 20.32% 18.01%
16.76%
Equity Opportunities Fund KOTAK 20.22% 18.98%
17.44%
Large and Midcap Fund MIRAE ASSET 21.11% 24.56%
23.01%
Flexi Cap Fund PGIM INDIA 21.48% -
15.13%
Flexi Cap Fund DSP 19.48% 17.73%
15.82%
Emerging Equities Fund CANARA ROBECO 18.91% 22.92%
20.84%
Focused fund SUNDARAM 18.22% 16.55%
15.16%

Updated as of June 2024

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Best Max Life SIP Plans 2024

Max Life offers various Unit Linked Insurance Plans (ULIPs) with SIP options. ULIPs combine life insurance coverage with market-linked investments, offering wealth creation alongside protection. Below are the best SIP plans by Max Life offered by Policybazaar:

  1. Max Life Capital Guarantee Solution

    Max Life Capital Guarantee Solution SIP plan is a combination of two plans offered by Max Life Insurance:

    Max Life Online Savings Plan: This is a Unit Linked Life Insurance plan (ULIP) that invests your premiums in a mix of debt and equity funds. The returns on your investment are linked to the performance of these funds.

    Max Life Smart Wealth Plan/Max Life Assured Wealth Plan: This is a traditional savings plan that offers guaranteed returns on your investment. The rate of return is fixed at the time you purchase the plan.

    The Capital Guarantee Solution combines the guaranteed returns of the traditional plan with the potential for market-linked growth. This means that you are guaranteed to get back your original investment plus any interest earned, even if the market performs poorly. However, you also have the chance to earn higher returns if the market performs well.

    Triple Benefits Under the Plan

    The plan also offers triple benefits:

    In case of unfortunate death of life insured

    • Life Cover paid to the family to meet immediate expenses.

    • Future premiums are paid by the insurance company. On maturity, an amount is paid to the nominee.

    • Nominees get monthly income to meet the regular expenses.

  2. Max Life Online Savings Plan

    Max Life Online Savings Plan is an investment plan offered by Max Life Insurance. It is a market-linked savings plan that provides life insurance cover along with the potential for wealth creation. This ULIP plan offers two variants:

    • Variant 1: Death benefit is defined as the highest of Sum Assured, 105% of total premiums paid till the date of death, or Total Fund Value as on the date of death.

    • Variant 2: Death benefit is defined as Sum Assured irrespective of the Total Fund Value.

    Plan at a Glance:

    Criteria  Specification 
    Product Type  Unit Linked Non Participating Individual Life Insurance Plan
    Coverage  All individuals in accordance with the Board Approved Underwriting Policy
    Minimum Age of Life Insured at Entry 18 years
    Maximum Age of Life Insured
    at Entry
    Variant 1: 60 years
    Variant 2: 54 years 
    Maximum Maturity Age of the
    Life Insured
    Variant 1: 85 Years
    Variant 2: 64 years
    Policy Term  Variant 1- Minimum 5 years; Maximum 52 years for Maturity Age <=70 Years Minimum 10 years; Maximum 67 years for Maturity Age > 70 years  Variant 2- Minimum – 5 years; Maximum – 30 years
    Premium Payment Term Pick a Premium Payment Term:
    Variant 1- Minimum – 5 years; Maximum – 52 years for Maturity Age <=70 years Minimum – 10 years; Maximum – 67 years for Maturity Age > 70 years  Variant 2-  Minimum – 5 years; Maximum – 30 years
    Minimum Annualised Premium  Annually: ₹12,000
    Semi Annual: ₹6,000
    Quarterly: ₹3,000
    Monthly: ₹1,000
    Premium Payment Mode  Annually, Semi-Annually, Quarterly and Monthly.
    Minimum Sum Assured  Minimum Sum Assured for both variants is ₹1,20,000
    Maximum Sum Assured  No Limit
    Riders  Max Life Critical Illness and Disability Secure Rider (UIN: 104A034V01):
    This rider provides benefit upon diagnosis of any of the critical illnesses covered
    Top Up  Not Available
    Loan Policy Not Available

Conclusion

With Max Life SIP Plans, you invest a fixed amount of money at regular intervals (usually monthly) into a chosen ULIP fund. The amount you invest can be as low as ₹500 per month, making it an accessible option for many people.

FAQ's

  • Why invest in a systematic investment plan?

    A systematic investment plan (SIP) is a simple, safe, and cost-effective way to invest your savings in mutual funds. It's great for reducing risks and investing regularly.
  • When is the best time to invest in a SIP?

    There's no perfect time to start a SIP. You don't need to time the market or wait for the right moment to invest in market-linked securities. SIPs make investing easier by automating the process.
  • What is the minimum amount required to invest in SIP?

    The minimum amount for SIP investment is ₹500. You can start with this amount and gradually build a significant corpus over time.

+For Mutual Fund midcap category Returns https://www.morningstar.in/tools/mutual-fund-category-performance.aspx & for Insurance midcap fund category Returns- https://www.morningstar.in/tools/insurance-fund-category-performance.aspx
*Past 10 Year annualised returns as on 01-12-2023
*All savings are provided by the insurer as per the IRDAI approved insurance plan. 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.
~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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*under 10(10D)
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