The annual rate of Fund Management Charge is 1.25% for the Pension Maximiser Fund and the Pension Preserver Fund. An additional charge for offering guaranteed benefits will apply to the Pension Preserver Fund and the Pension Maximiser Fund at 0.20% p.a. and 0.40% p.a. respectively.
*The company reserves the right to revise the charge of guarantee, subject to a maximum of 0.50% p.a., with prior approval from IRDA.
Note : In case of surrender /discontinuance you cannot withdraw the accumulated corpus. You will need to necessarily exercise one of the options available - a) Commute up to 1/3rd of the fund value and use the remaining proceeds to purchase an immediate annuity from Max Life Insurance at then prevailing annuity rates. b) Use the entire proceeds to purchase an immediate annuity from Max Life Insurance at the then prevailing annuity rates. c) Purchase a single premium pension accumulation plan from Max Life Insurance. Please note that in case of surrender /discontinuance within the first five (5) policy years, you can utilize the accumulated corpus only after the completion of five policy years.
Max Life Insurance Company Limited is a Joint Venture between Max India Ltd and Mitsui Sumitomo Insurance Co. Ltd. Max Life Insurance Co. Ltd.11th Floor, DLF Square Building, Jacaranda Marg, DLF City Phase II, Gurgaon - 122002 (Haryana). IRDA Registration No. – 104. For more details on risk factor, Terms and Conditions, please read the sales brochure carefully before concluding a sale. You may be entitled to certain applicable tax benefits on your premiums and policy benefits. Please note all the tax benefits are subject to tax laws prevailing at the time of payment of premium or receipt of benefits by you. Tax benefits are subject to changes in tax laws.
Insurance is the subject matter of solicitation. For further details, call Toll free number 1800 200 4006
This Life Insurance Product Is Offered and Underwritten By Max Life Insurance Co. Ltd. Life Insurance Coverage Is Available In This Product. In This Policy The Investment Risk In Investment Portfolio Is Borne By The Policyholder. The Life Insurance contract is between the Proposer and Max Life Insurance Co. Ltd Applicable Service Tax, Cess and any other taxes as imposed by the Government from time to time will be deducted from the premiums received.
The linked insurance products do not offer any liquidity during the first five years. The Policyholder will not be able to surrender / withdraw the monies invested in the linked insurance products completely or partially till the end of the fifth year.
Axis Bank Limited is the Corporate Agent of Max Life Insurance Co. Ltd. Axis Bank Limited, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai – 400025. IRDA Corporate Agent License No: 1891411
Unit Linked Life Insurance products are different from the traditional insurance products and are subject to the risk factors. The premium paid in Unit Linked Insurance policies is subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the Policyholder/Insured is responsible for his/her decisions. Max Life Insurance Company Limited is only the name of the company and Max Life Forever Young Pension Plan is only the name of the Unit Linked pension contract and does not in any way indicate the quality of the contract, its future prospects and returns. Please know the associated risks and the applicable charges, from your insurance agent or the intermediary or policy document of the insurer. The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these Funds, their future prospects and returns. In this policy, the investment risk in investment portfolio is borne by the policyholder.
BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS
IRDA clarifies to public that
- IRDA or its officials do not involve in activities like sale of any kind of insurance or financial products or invest premiums
- IRDA does not announce any bonus
Public receiving such phone calls are requested to lodge a police complaint along with details of phone call, number.
ARN No.: Max Life/Axis/Website/Content/FYPP/Feb 2014