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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

10 years immediately after completion of Premium Payment Term

Lump Sum Benefit on Maturity

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

Policy Continuance Benefit

Get lump sum benefit immediately on death & waives off all future premiums

Comprehensive Protection through Riders

Enhanced risk coverage through optional riders.

Features and Benefits

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.

How the plan works

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)
    *Annualised Premium is defined as premium payable on an annual mode, including extra premium (if any) but excludes Service Tax, Education Access and any loadings for modal premiums. Annualised Premium remains same irrespective of the premium payment mode. For more details, please refer to the detailed product brochure available at www.maxlifeinsurance.com
  • 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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