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Life Insurance

Max Life Guaranteed Lifetime Income Plan

A non-linked traditional annuity plan that guarantees a regular income after retirement

Guaranteed Income

Plan caters to your needs as long as you live

Life-long payments

Option to receive payments for as long as you or your partner is alive

Option to receive return of purchase price on death

After the death of the annuitant(s), the purchase price of the policy is returned to the nominee

Option to choose the mode of payout

Gives an option to choose from various payout frequencies available

Features and Benefits

Features Specifications
Entry Age (Age last birthday)
  • Minimum: 50 years
  • Maximum: 80 years
Minimum and Maximum Purchase Price Minimum Purchase Price: Rs. 1 Lac. Maximum Purchase Price : No limit. The above mentioned amounts are exclusive of Service Tax. Please note that only single premium payment mode is permitted.
Annuity Payment Modes You have the option to choose from the four available annuity payment modes. Basis the chosen mode, modal factors will be applicable on non-annual modes as given below:
  • Annual
  • Semi Annual
  • Quarterly
  • Monthly
Please note that the onetime premium payment will be accepted only through cheque (not through credit cards) and annuity payments will be made by electronic transfer for all modes.
Surrender Value No Surrender Value is available under this product.
Purchase Price Bands
(excluding Service Tax)
  • 0 -Rs.2,49,999
  • Rs.2,50,000 -Rs.4,99,999
  • Rs.5,00,000 -Rs.19,99,999
  • Rs.20,00,000 -Rs.49,99,999
  • Rs.50,00,000 and above
Annuity Term
  • Single life variant -till the death of the annuitant.
  • Joint life variant -till the death of the last survivor.
Annuity Rates at sample ages
Age of the Annuitant(s) (Years) Annuityrates for a male for a purchase price of Rs.10 lacs
Annuityfor Life inRs.
(Single Life)
Annuityfor Life with ROP inRs. (Single Life) Annuityfor Life inRs.
(Joint Life)
Annuityfor Life with ROP inRs. (Joint Life)
55 76,290 65,530 68,210 63,610
60 81,350 63,440 70,360 63,660
65 88,780 63,230 73,450 63,670
70 100,090 62,740 78,010 63,620
Please note that the above annuity payouts are based on the assumption that the age of the secondary annuitant is five years lower than the age of the primary annuitant. Payouts are Annual. The primary annuitant is male and the the secondary annuitant is a female.Rs. 10 lacs of purchase price is exclusive of service tax. Transaction is assumed to be seller assisted.

Annuity rates will be different in different purchase price bands. Please note that the annuity rates are subject to change. Once the annuityhas been purchased, the rates will remain constant and will not change. The amounts mentioned above are basis the annuity rates as of 29th May 2015

Max Life Insurance Company Limited is a Joint Venture between Max. Financial Services Limited 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). IRDAI Registration No. – 104. For more details on the risk factors, 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. The Life Insurance contract is between the Proposer and Max Life Insurance Co. Ltd


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. IRDAI Corporate Agent License No: CA0069. The purchase of a Max Life Insurance product by Axis Bank's customer is purely on a voluntary basis. As Axis Bank is not in the business of insurance, there is no link either direct or indirect between the banking services offered by the bank to its customers and use of the insurance products.


BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS

IRDAI clarifies to public that

  • IRDAI or its officials do not involve in activities like sale of any kind of insurance or financial products nor invest premiums
  • IRDAI 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/GLIP/ July 2016

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