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Life Insurance

Max Life Forever Young Pension Plan

Build a retirement corpus through equity and safeguard your family against unforeseen eventualities

Maturity Benefit
Choose from the Pension Maximiser option and the Pension Preserver option

Death Benefit
Higher of Fund or 105% of the cumulative premiums paid (including top up premiums, if any).

Investment Options Available
You have the option to choose from any one of the below mentioned investment options.

Guaranteed Loyalty Additions

Features and Benefits

Overview

Today, in the prime years of your life, you are striving hard to offer the best lifestyle to your loved ones. While you are enjoying all the comforts that life has to offer, are you certain you will be able to maintain your family’s lifestyle, post retirement?

Presenting Max Life Forever Young Pension Plan which provides the benefits of equity participation to build a large retirement corpus and at the same time offers a guarantee to protect your savings from market downturns. It also offers additional benefits to safeguard your family against unforeseen eventualities so that you and your loved ones live life on your own terms.

Benefits

The maturity benefit that you receive will depend on the investment option chosen by you. In case you opt for the Pension Maximiser Option, you will receive an amount equal to the higher of Fund or 101% of cumulative premiums (including top up premiums, if any) at maturity. If you opt for the Pension Preserver Option, you will receive an amount equal to the higher of Fund or 110% of cumulative premiums (including top up premiums, if any) at maturity. (Please note that rider charge is excluded from the guarantee available at maturity.)

Higher of Fund or 105% of the cumulative premiums paid (including top up premiums, if any). 

You have the option to choose from any one of the below mentioned investment options

  • Pension Maximiser Option:In case you opt for the Pension Maximiser Option, 100% of your premiums (including top up premiums, if any) shall be invested in the Pension Maximiser Fund (SFIN: ULIF01715/02/13PENSMAXIMI104). The risk profile of the investment option is medium.
  • Pension Preserver Option:In case you opt for the Pension Preserver Option, 100% of your premiums (including top up premiums, if any) shall be invested in the Pension Preserver Fund (SFIN: ULIF01815/02/13PENSPRESER104). The risk profile of the investment option is low.

Please note that you can only choose the option at inception and no change in the option is allowed during the policy term.

The loyalty additions are payable only if the life insured is alive and all due premiums have been paid. 0.50% of the Fund Value shall be added to the fund by creation of additional units, at the end of every policy year starting end of 10th policy year. The Guaranteed Loyalty Additions increase by 0.02% (absolute) each year from 11th policy year.

These Guaranteed Loyalty Additions shall be subject to the following:

  • Guaranteed Loyalty Additions will be payable only on premium paying policies.
  • Guaranteed Loyalty Additions shall be payable both in case of Regular Pay and Single Pay variants.

In case of revival of policies, the Guaranteed Loyalty Additions for previous years will be added based on the Fund Value prevailing at the revival date

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