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Life Insurance

Max Life Monthly Income Advantage Plan

Take care of your financial needs with guaranteed monthly income for 10 years and a lump-sum benefit

Guaranteed Monthly Income

For 10 years

Maturity Benefit

Lump sum to take care of family even in your absence

Protection Riders

To enhance your risk coverage

Tax Benefits

On all premiums paid, as per the prevailing tax laws

Features and Benefits

Overview

Life is all about fulfilling your dreams for your loved ones like providing for best of education & extra-curricular activities for your child, adequate money to take care of your & your spouse’s retirement expenses. Thus, regular income is an eminent need for everyone at all stages of life.

Presenting Max Life Monthly Income Advantage Plan, a comprehensive savings & protection plan that provides you guaranteed monthly income for 10 years to meet your recurring expenses and lump-sum benefit, which comprises of non-guaranteed bonuses, at maturity to cater to your long term financial goals, thus, ensuring that your dreams for your loved ones are addressed at all times.

Key Benefits and Features

Get guaranteed monthly income for 10 years immediately after completion of Premium Payment Term.

Enjoy accrued bonuses along with Terminal Bonus on maturity of the policy.

In case of an eventuality -

  • Get lump sum benefit immediately on death to ensure financial security of your loved ones.
  • The Company also waives off all future premiums payable by you to ensure that all benefits i.e. Income Benefit & Maturity Benefit are paid to your beneficiary as and when due, thus, ensuring that your dreams for your family are taken care of even in your absence.

Enhance your risk coverage through optional riders.

Get tax benefits on all premiums paid and policy benefits received by you as per the prevailing tax laws.

Survival Benefit

Survival Benefit: Income Benefit + Maturity Benefit where,

Guaranteed monthly income equal to one twelfth (1/12th) of 10% of Sum Assured shall be payable for 10 years (120 months) at each monthly anniversary commencing immediately after completion of the Premium Payment Term

Accrued compound reversionary bonus (if any) plus Terminal Bonus (if any) shall be payable on completion of the Policy Term

Following shall be payable on death of the Life Insured:

  • Lump sum Benefit -Death Benefit shall be payable on the death of the Life Insured, where Death Benefit is higher of:
    • 11 times the Annualised Premium*
    • 105% of all the premiums paid till the date of death of the Life Insured
    • Guaranteed Sum Assured on Maturity (Guaranteed Sum Assured on Maturity is equal to zero (0) under this plan as all guaranteed benefits are payable as guaranteed monthly income for 10 years after completion of Premium Payment Term)
    • Any absolute amount assured to be payable on death (this is equal to Sum Assured)
  • Policy Continuance Benefit - All due premiums, if any, coinciding or following the date of death of the Life Insured shall be waived off and the policy will continue as it is and Income Benefit & Maturity Benefit shall be payable to the beneficiary as and when due. Policy shall participate in future bonuses

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