Max Life SIP Plans

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.

   People also read: Max Life NFO

   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.