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Life Insurance

Max Life Maxis Super

Balance equity and debt exposure automatically; to grow wealth, secure it and fulfil your life’s goals

Wealth Creation with safety of funds

Invest as per your risk appetite and automatically rebalances funds with Dynamic fund allocation.

Shorter Premium Payment Terms

Option to choose premium payment terms from 7 to 10 years

Flexibility of Protection Cover

Give option to choose quantum of from various option available.

Features and Benefits

  • Wealth Creation with safety of funds:
    • Invest as per your risk appetite. Choose between six funds with the option to switch or redirect savings between funds, free of charge
    • Unique feature of “Dynamic Fund Allocation” which automatically rebalances your portfolio depending upon years to maturity
  • Shorter Premium Payment Terms:Option to choose Premium Payment Term from 7 years or 10 years as per your need
  • Flexibility of Protection Cover:Option to choose insurance cover of 11/15/20 times the annual premium depending upon your age

How plan works

  • Balances equity and debt exposure by automatic allocation of fund value as per predetermined percentages. Please refer to the Table below.
  • Higher allocation towards equity oriented fund in the initial policy years helps in generating potentially higher returns
  • Higher allocation towards conservative fund as the policy nears maturity helps in protecting maturity value
Number of Years to Maturity Assets Under Management to be maintained under the Growth Super Fund Assets Under Management to be maintained under the Secure Fund
11 – 15 years 70% 30%
6 – 10 years 50% 50%
0 – 5 years 30% 70%

“Dynamic Fund Allocation” can be opted for only at the inception of the policy. You may opt out of Dynamic Fund Allocation anytime during the Policy Term.

Charge Explanation
Premium Allocation Charge The Premium Allocation charge expressed as a percent of premium received, is depicted in the table below:
Premium Payment Term Policy Year : 1 – 5 years Policy Year : 6th year onwards
7 Pay 4% 2%
10 Pay 4% 2%
Fund Management Charge This is a charge levied as a percentage of the value of assets and shall be appropriated, usually daily, by adjusting the Net Asset Value of the Fund. The rate to be levied will be equal to the annual rate, as given below, divided by 365 and multiplied by the number of days that have elapsed since the previous Unit valuation date.The annual rate of fund management charge is as below:
Name of The Fund Charge (per annum) as % of Fund Value
Growth Fund
(SFIN: ULIF00125/06/04LIFEGROWTH104)
Growth Super Fund
(SFIN: ULIF01108/02/07LIFEGRWSUP104)
Balanced Fund
(SFIN: ULIF00225/06/04LIFEBALANC104)
Conservative Fund
(SFIN: ULIF00325/06/04LIFECONSER104)
Secure Fund
(SFIN: ULIF00425/06/04LIFESECURE104)
Policy Administration Charge This is a charge expressed as a percentage of premiums paid, i.e., 0.24% of Annualised Premium per month for both pay variants and is levied at each monthly anniversary by cancelling proportionate units starting from first policy year. This charge will inflate at 4% p.a. compounded annually starting from the 2nd Policy Year and will not be greater than Rs 400 per month at any point during the policy term.
Mortality Charge Mortality charge is levied for providing risk cover to the Life Insured during the Policy Term. This charge is levied on the attained age of the Life Insured for the Sum Assured and is unisex. On each monthly anniversary, appropriate number of Units are cancelled from the Unit Account at their Unit Price to meet mortality for the Life Insurance starting from the date of commencement of the policy.

Please refer to the below mortality rates per thousand sum at risk for some sample ages are as below:
Age (Years) 25 30 35 40
Mortality charge (Rs)
(per Rs. 1000 Sum Assured)
1.13 1.17 1.39 2.05
Additional Charges (If Applicable)
Switching Charge A maximum of twelve Switches are allowed in a policy year and all are free of charge.
Premium Redirection Charge A maximum of six Premium Redirections are allowed in a policy year and all are free of charge.
Partial Withdrawal Charge After the first five policy years, a maximum of two Partial Withdrawals are allowed in a policy year and both are free of charge.
Should you surrender
Surrender/ Discontinuance charge This charge shall be levied on the Fund Value at the time of discontinuance of Policy or effecting surrender whichever is earlier, as per the following table:
If Policy is Surrendered/ Discontinued Surrender/Discontinuance Charge shall be lower of the following
As a percentage of Annualised Premium As a percentage of Fund Value Fixed amount (Rs.)
In 1st Policy Year 6% 6% 6,000
In 2nd Policy Year 4% 4% 5,000
In 3rd Policy Year 3% 3% 4,000
In 4th Policy Year 2% 2% 2,000
5th Year onwards 0% 0% -
Note : The policy can be surrendered anytime during the Policy Term however it will be subject to Surrender Charges as applicable

If the policy is surrendered within first five policy years:
  • On the date of surrender request, Fund Value of units in the segregated fund as chosen by the customer less discontinuance charge shall be credited to Discontinuance Policy Fund.
  • On expiry of lock-in period, Fund Value of units in Discontinuance Policy Fund, subject to a minimum guaranteed return of 4% p.a. or as mandated by the regulator from time to time, shall be payable.
  • In case the Life Insured dies anytime after the Date of Discontinuance, the Company shall pay the Fund Value as on the date of death.
If the policy is surrendered after first five policy years:
  • Fund Value of units in segregated fund as chosen by the Policyholder shall be payable on the date of Surrender request
  • The Company shall close the Unit Account and pay the Fund Value of the Units in the segregated Fund(s) on the date of receipt of surrender request and the policy shall terminate thereafter.

Service Tax and Education Cess are applicable on all charges as per the prevailing law. Any further taxes and cess shall be passed on to the Policyholder.


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