savings plans sdfw

8/18/2019 Savings Plans sdfw

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Savings Plans

Max Life Guaranteed Income Plan

Life is all about fulfilling your dreams for your family, like providing for children’s education,

planning for retirement, etc. However, in an environment which is full of uncertainty and

volatility, you need surety that these dreams will be fulfilled, even if you are not around.To

ensure that your dreams for your family are fulfilled, Max Life nsurance brings to you a plan

that takes care of your worries related to volatility. Max Life !uaranteed ncome "lan offers

guaranteed benefits from the very outset. The plan provides a !uaranteed ncome for a period of

#$ years after the "olicy Term. The income payable monthly in the last % years of the payout

period is twice the income payable monthly in the first % years of the payout period. This is

followed by a one&time guaranteed Terminal 'enefit payable at the end of the "ayout "eriod.

(dditionally, it ensures that the lifestyle of your family is protected against any exigencies.

Key Features

• Guaranteed Tax Free* Monthly Income - !et guaranteed tax free) monthly income for

#$ years *"ayout "eriod+ along with one time guaranteed Terminal 'enefit at the end of

the "ayout "eriod

• Guaranteed Income that doules after ! years - !uaranteed Monthly ncome offered

in first five years of the payout period is doubled in the remaining five years.

• Immediate "ayout after "olicy term - tart en-oying monthly income benefitimmediately after the "olicy Term *starting next year after all premiums have been paid+.

• Guaranteed Protection #ith choice of "ayout o"tions on death - The plan offers you

life cover for the entire "olicy Term by providing guaranteed death benefit. n death

during the "olicy Term, the nominee will have an option to select either a+ Lump sum

/eath 'enefit or b+ ncome for #$ years post death.

• Flexiility to get monthly income as lum" sum - The "lan offers you commutation

option wherein you can receive the present value of the survival and death benefit

respectively instead of the monthly payouts. This option can be availed anytime once themonthly payout has been started.

)"lease note that all the tax benefits are sub-ect to tax laws prevailing at the time of payment of

"remium or receipt of benefits by you. The monthly ncome 'enefit 0 Terminal 'enefit may be

taxable sub-ect to extra premium being loaded at underwriting stage.

Key features


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Survival

$enefit

f the "olicyholder has paid all the premiums as and when due and the life insured

has survived the "olicy Term, then the policyholder is entitled to receive the

urvival 'enefit as below1

Survival Benefit = Income Benefit + Terminal Benefit

Income $enefit

ncome 'enefit shall be payable during the #$ year "ayout "eriod post completion

of the policy term in accordance with the tables below. This ncome 'enefit is

payable monthly and is expressed as a percentage of the (nnualised "remium. The

ncome 'enefit payable monthly in the last % years of the payout period is twice the

ncome 'enefit payable monthly in the first % years of the payout period. The

ncome 'enefit shall accrue on the policy anniversary after the end of the policy

term.

Terminal$enefit

Terminal 'enefit is a onetime payout payable at the end of "ayout "eriod, which is

e2ual to1

& #3%4 of (nnualised "remium in case of 5 years "olicy Term variant6

& 3$$4 of (nnualised "remium in case of #3 years "olicy Term variant

7xtra premium, rider premium, service tax, cesses and any statutory levies are

excluded from (nnualised "remiums used for calculating the urvival 'enefit

above.

nstead of taking the urvival 'enefit as a series of monthly payments, the

policyholder also has the option to avail the survival benefit in lump sum at the end

of the policy term, before the commencement of the payout period. n exercising

this option, the !M( is paid to the policyholder. The policy shall terminate on the

payment of the !M(.

!M( is defined as the present value of survival benefits calculated at a discount

rate of %.84 p.a. and is expressed in terms of one (nnualised "remium. The !M(

is always higher than the sum of the total annualised premiums payable overthe policy term for all entry ages and is guaranteed.

Annualised premium is exclusive of extra premium, rider premium and Service tax &

Education Cess


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%eath $enefit

during the

Policy Term

"ayable on death of the life insured during the "olicy Term provided the policy is in

force.

n case of death of the Life nsured within the "olicy Term, the beneficiary shall

receive the following death benefit1

The lumpsum /eath 'enefit payable is e2ual to the /eath um (ssured, which is

defined as the higher of1

i+ #$ times the (nnualised "remium6

ii+ #$%4 of Total "remiums paid6

iii+ !uaranteed Maturity um (ssured *!M(+, and

iv+ !uaranteed /eath um (ssured *!/(+6

!/( is higher than #$ times the (nnualised "remium, #$%4 of Total "remiums

"aid and !M(. Hence the lump sum /eath 'enefit is #3.8% times the (nnualised

"remium and #9.%$ times the (nnualised "remium for a 5 year "olicy Term and #3

year "olicy Term variant respectively.

The /eath 'enefit is payable as a lump sum benefit to the beneficiary. However,

instead of taking the death benefit as lump sum, the beneficiary also has the option

to avail the death benefit in monthly installments for a period of #$ years post the

date of death.

n exercising the option, the /eath 'enefit is paid as follows1

&ariant Period %eath $enefit

(as % of

Annualised

remium,

pa!a"lemont#l!$

5years

"olicy

Term

#$yearsfollowing

the date of death

of the Life

nsured

#5%4:#3

#3years

"olicy

#$years following

the date of death

3;$4:#3


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Term of the Life

nsured


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)re ou +ligile,

'riteria +ligiility

MinimumMaximum )ge of

Life Insured at

+ntry .age as on

last irthday/

Minimum 7ntry (ge1 3% years for both 5 and #3 year "olicy Terms

Maximum 7ntry (ges1

@or 5 year "olicy Term A 5$ years

@or #3 year "olicy Term A %% years

Maximum

Maturity )ge of the

Life Insured .age as

on last irthday/

@or 5 year "olicy Term A 55 years

@or #3 year "olicy Term A 58 years

Premium Payment

Term.s/

This plan offers only regular premium payment option and has two premium

payment term options A 5 years and #3 years. The "remium "ayment Term for

the chosen option would be same as the "olicy Term

Policy Term .s/ This plan has two "olicy Term options A 5 years and #3 years. The completion

of "olicy Term will be followed by a "ayout "eriod of ten *#$+ years *#3$

months+

Minimum

Guaranteed

Maturity Sum

)ssured .GMS)/

Minimum !M( is based on the minimum annualiBed premium allowed and

age of the life insured on issuance of the policy under each variant of the plan1

& 5 year "olicy Term *(ge last birthday & 5$ years+1 >s.;,%$,98C

& #3 year "olicy Term *(ge last birthday & %% years+1 >s.3,5D,%5%

Maximum

Guaranteed

Maturity Sum)ssured .GMS)/

Eo limit, sub-ect to underwriting. This plan will be underwritten as per the

board approved underwriting policy of the =ompany.


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0o# this "lan #or1s

Mr. !upta is a C% year old private sector employee. He wants a guaranteed stream of income

of >s. #,3%,$$$ *approx+ annually immediately after he stops paying "remiums. Mr. !uptadecides to buy Max Life !uaranteed ncome "lan with a "olicy Term of #3 years and (nnualised

"remium of >s. #,$$,$$$. He also decides to make Mrs. !upta his nominee under the plan.

@ollowing are the two illustrative scenarios under the plan1

Scenario 2 .Survival $enefit/3 Mr. !upta pays all the due policy premiums and survives till end

of the "olicy Term. "lease click here to view the benefits graph.

) nstead of Monthly ncome, Mr. !upta also has the option to avail lump sum amount at the end

of the policy term which will be !M(

Scenario 4 .%eath $enefit/3 Mr. !upta dies after paying 3 premiums. n this casehis nominee *Mrs. !upta+ will have option to choose between1

("tion2- Lump&sum /eath benefit1 n case Mrs. !upta chooses lump&sum /eath 'enefit, she

will get a one time payment of >s. #9, %$,$$$:& *calculated as #9. %$ times one (nnualised

"remium+

("tion 4 A ncome 'enefit1 n case Mrs. !upta chooses ncome /eath 'enefit option, she will

get the monthly income calculated as 3;$4:#3 of one (nnualised "remium payable for #$ years,

"lease click here to view the /eath benefit graph.

)out Premium Payment

Premium Payment

Modes

(nnual Mode only

Minimum

Maximum

Premium

(nnualised "remium is the amountof premium payable in annual mode that

excludes extra premium, riderpremium and service tax or any other taxes, cesses

or levies, if any. Thesurvival, surrender and death benefits under this policy are

linked to(nnualised "remium.

Minimum (nnualised"remium1

• 5 year "olicy Term A >s. 8%,$$$ per annum

http://www.maxlifeinsurance.com/Uploads/survival-benefits.jpghttp://www.maxlifeinsurance.com/Uploads/survival-benefits.jpghttp://www.maxlifeinsurance.com/Uploads/death-income-benefits.jpghttp://www.maxlifeinsurance.com/Uploads/survival-benefits.jpghttp://www.maxlifeinsurance.com/Uploads/death-income-benefits.jpg


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• #3 year "olicy Term A >s. 3$,$$$ per annum

Maximum(nnualised "remium1 Eo limit, sub-ect to underwriting. This plan will

beunderwritten as per the board approved Fnderwriting "olicy of the =ompany.

7xtra premiummay be loaded during underwriting for sub&standard lives, as per

the 'oardapproved underwriting guidelines of the =ompany

Max Life Monthly Income )dvantage Plan

Life is all about fulfilling your dreams for your loved ones like providing for best of education 0

extra&curricular activities for your child, ade2uate money to take care of your 0 your spouse’s

retirement expenses. Thus, regular income is an eminent need for everyone at all stages of life.

"resenting Max Life Monthly Income )dvantage Plan, a comprehensive savings 0 protection

plan that provides you guaranteed monthly income for #$ 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 Features

$enefits3

• Guaranteed Monthly Income - !et guaranteed monthly income for #$ years

immediately after completion of "remium "ayment Term.

• Lum" Sum $enefit on Maturity - 7n-oy accrued bonuses along with terminal bonus on

maturity of the policy.

• Policy 'ontinuance $enefit - n case of an eventuality &

o

!et lump sum benefit immediately on death to ensure financial security of yourloved ones.

o The =ompany also waives off all future premiums payable by you to ensure that

all benefits i.e. !uaranteed Monthly ncome 'enefit 0 Maturity 'enefit 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.


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• 'om"rehensive Protection through 5iders - 7nhance your risk coverage in case of

accidental death or disability by attaching riders.

• Tax $enefit - !et tax benefits on all premiums paid and policy benefits received by you

as per the prevailing tax laws.

)"lease note that all the tax benefits are sub-ect to tax laws prevailing at the time of payment of

"remium or receipt of benefits by you.

Survival $enefitSurvival $enefit3 Income $enefit 6 Maturity $enefit #here7

Income $enefit

!uaranteed monthly income e2ual to one twelfth *#:#3th+ of #$4 of um (ssured shall be

payable for #$ years *#3$ months+ at each monthly anniversary commencing immediately after

completion of the "remium "ayment Term.

Maturity $enefit

(ccrued compound reversionary bonus *if any+ plus terminal bonus *if any+ shall be payable on

completion of the "olicy Term

%eath $enefit during the Policy Term@ollowing shall be payable on death of the Life nsured1

28 Lum" sum $enefit & /eath 'enefit shall be payable on the death of the Life nsured, where

/eath 'enefit is higher of1

i+ ## times the (nnualised "remium)

ii+ #$%4 of all the premiums paid till the date of death of the Life nsured

iii+ !uaranteed um (ssured on Maturity *!uaranteed um (ssured on Maturity is e2ual to Bero

*$+ under this plan as all guaranteed benefits are payable as guaranteed monthly income for #$

years after completion of "remium "ayment Term+

iv+ (ny absolute amount assured to be payable on death *this is e2ual to um (ssured+

48 Policy 'ontinuance $enefit & (ll due premiums, if any, coinciding or following the date of

death of the Life nsured shall be waived off and the policy will continue as it is and !uaranteed

Monthly ncome 'enefit 0 Maturity 'enefit shall be payable to the beneficiary as and when due.

"olicy shall participate in future bonuses.

0o# this "lan #or1s

Mr. 'a-a-, aged ;$ years, wishes to have an additional income and wants to ensure financial

protection in case of death. Thus, he invests >s. #,$$,$$$ in Max Life Monthly ncome

(dvantage "lan on an (nnual Mode. He opts for #3&year "remium "ayment Term *33&year

"olicy Term+. Let’s see how this plan would work for him1


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Scenario 23 Mr. 'a-a- survives through the "olicy Term

Scenario 43 Mr. 'a-a- meets with an accident and dies in the %th policy year, i.e. after paying %

"remiums

Gindly note that the above is only an illustration and does not create any rights and:or

obligations. The assumed non&guaranteed rate of return chosen in the above illustration is 94.This assumed rates of return is not guaranteed and is not the upper or lower limit of what you

might get back as the value of your policy is dependent on a number of factors including future

investment performance. The actual experience on the contract may be different from the

illustrated. The guaranteed and non&guaranteed benefits are applicable only if all due premiums

are paid. The premiums mentioned above are exclusive of ervice Tax charges. "lease note that

'onuses are ET guaranteed and may be as declared by the =ompany from time to time.

)out "remium "ayment

Premium PaymentModes

The product allows (nnual, emi&(nnual, uarterly and Monthly premium paying modes

Minimum

Maximum )nnual

Premium

Minimum (nnual "remium1 >s. %$,$$$ excluding extra premium, modal extra,

ervice Tax 0 7ducation =ess

Maximum (nnual "remium1 Eo limit

5iders

Max Life Term Plus 5ider .9I: ; 2


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• The rider term is sub-ect to the following conditions1

o >ider term cannot be greater than the outstanding "remium "ayment Term of the

base policy. "lease note that the minimum outstanding premium payment term ofthe base policy should be a minimum of % years.

o >ider term cannot be greater than Maximum maturity age less entry age of Life

nsured at inception of the rider

The rider can be attached at inception of the base policy or at any time, concurrently with the

base policies? premium payment mode during the premium payment term of the base policy such

that the minimum rider term is 5$ months *% years+.

@or further details please refer to the Max Life Term Plus 5ider Sales $rochure7 5ider

'ontract7 5ider 5ates ? 5ider Leaflet

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Max Life )ccidental %eath ? %ismemerment 5ider .9I: - 2


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5ider $enefit

*To know the detailed

events under which the

benefits are payable,

please refer to the sales brochure attached below+

)8 )ccidental %eath $enefit3

ider um (ssured will be payable.

$8 )ccidental %ismemerment $enefit3ider um (ssured will be

payable if the Life nsured meets with an (ccident which, within #9$ days

from the happening of such (ccident *and before the expiry of rider term+

and independently of all other causes, results in Life nsured being sub-ect

to one *or more+ of the following impairments due to n-ury1

• rrecoverable loss of entire sight in both eyes6 or

• (mputation or loss of use of both hands at or above the wrists6 or

• (mputation or loss of use of both feet at or above the ankles6 or

• (mputation or loss of use of one hand at or above the wrist and

one foot at or above the ankle

The loss of use of the particular limb:loss of sight must be documented for

an uninterrupted period of at least six months.

The rider will terminate when the >ider um (ssured is paid either due to

dismemberment or due to death, whichever is earlier.

Premium 5ate ."er

annum/

>s. #$$ per Lac of >ider um (ssured. The premium rate does not vary

with the age or gender of the Life nsured.





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Max Life Ahole Life Su"er

n your -ourney through life, you plan and save for your child?s education, marriage, your

retirement, etc. but what about creating a legacy for your loved ones after you.

To cater to this uni2ue need, we have introduced Max Life


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=ustomiBe Iour "olicy

The plan offers additional rider *s+ that can be taken with the policy to provide for additional

protection as per your need.

Terminal llness 'enefit

The plan offers uni2ue Terminal llness benefit, in which if the Life nsured is found to be

suffering from terminal illness that is likely to lead to his:her death, within six months of

diagnosis in the opinion of registered medical practitioner, the =ompany will advance %$4 of the

!uaranteed Maturity um (ssured *up to maximum of >s. #$ lacs across all policies which

provide this benefit+ immediately on "olicyholder?s re2uest.

)re you eligile,

7ntry (ges

*(ge Last 'irthday+

Minimum (ge at entry1 #9 years

Maximum (ge at entry

"remium "ayment Term *in years+ Maximum entry age *age last

birthday+

#$ years 5$ years

#% years %% years

3$ years %$ years

Maturity (ge

*(ge Last 'irthday+

"olicy anniversary following or coinciding with the life insured attaining age

#$$ years

The only available maturity age is #$$ years

Minimum "remium The minimum premium for the product *#$:#%:3$ "ay+ is >s. 9,%$$ p.a.excluding extra premium, modal extra, service tax and education cess.

Maximum "remium Eo limit, sub-ect to the 'oard approved underwriting policy of the =ompany


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um (ssured Limits Minimum 1 >s. %$,$$$, sub-ect to minimum premium of >s. 9,%$$

Maximum 1 Eo Limit *sub-ect to the 'oard approved underwriting policy of

the =ompany+

The minimum premium excludes extra premium, modal extra, service tax,

cusses or levies.

0o# the "lan #or1s,

Mr. !upta *"olicyholder and Life nsured+ is C$ year old salaried employee. He wishes to buy an

insurance to protect his life and also wants to save enough to create a legacy for his children. He chooses

to buy Max Life s. %,$$,$$$, with a 3$

year term. The premium for this policy is >s. #3,;$% to be paid per year.

Here are some scenarios that can happen

Living and Maturity $enefit3

Ahen #ill the enefit e "aid

Ahat #ill e the enefit,

0o# much #ill e the enefit,

(t age #$$

*"olicy anniversary post attaining the age+

!uaranteed Maturity um (ssured plus non guaranteed accrued "aid Fp (dditions *if any+ plus non

guaranteed Terminal 'enefits *if any+

** This includes

Guaranteed

Maturity Sum

)ssured along

#ith non

guaranteed

accrued Paid 9"

)dditions and

Terminal $onus8

Mr. !upta will

receive #$$4 of

!uaranteed

Maturity um

(ssured as

Maturity $enefit $rea1u" )t =B )t CB

!uaranteed

Maturity um

(ssured

>s. %,$$,$$$ >s. %,$$,$$$

Eon !uaranteed

(ccrued "aidFp (dditions

>s. C,%8,5D5 >s. ;$,5C,9#D

Eon !uaranteed

Terminal 'onus

>s. ;3,99% >s. 3,39,#D#

Total >s. D7


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guaranteed benefit along with non guaranteed (ccrued "aid Fp (dditions *if any+ and Terminal 'onus *if

any+

%eath $enefit3

Mr. !upta pays all his premiums, for 3$ years, and dies at age 5$, that is after C$ years after taking the

policy. n such a case the nominee under the policy receives1

%eath $enefit

$rea1u"

)t =B )t CB

!uaranteed /eath 'enefit) >s. %,$$,$$$

Eon !uaranteed (ccrued "aid

Fp (dditions

>s. #,35,9CD >s. 8,85,D3#

Eon !uaranteed Terminal 'onus >s. C#,5$# >s. 55,$C%

Total >s. >7!C7==< >s. 2E7=47D!>

* Guaranteed %eath $enefit as illustrated elo#3

ear 2< J Max *## K (nnualised "remium, #$%4 K Total "remium "aid, !uaranteed Maturity um

(ssured+

J Max *## K C;,$3%+, *#$%4 K C;,$3% K #$+, *%,$$,$$$+ J >s. %,$$,$$$

:ote 3 The death benefit shown here is taken into consideration that Mr. !upta pays all his due premiums

in time and the policy is in force.

The given example does not create any rights and:or obligations. The actual experience on the contract

may be different from the illustrated. ome benefits are guaranteed and some benefits are variable with

returns based on the future performance of the insurer. f the policy offers guaranteed returns then these

will be clearly marked as guaranteed in the illustration table on this page. f your policy offers variable

returns, then the illustration on this page will show two different rates of assumed future investment

returns. These assumed rates of return are not guaranteed and they are not the upper or lower limits of

what you might get back, as the value of your policy is dependent on a number of factors including future

investment performance. The guaranteed and non&guaranteed benefits are applicable only if all due

premiums are paid. The premium mentioned is exclusive of service tax. "lease note that 'onuses are

ET guaranteed and may be as declared by the =ompany from time to time.


Policy Term "olicy Term under this product is defined as #$$ years minus the age at entry of the

life insured.age last irthday/. This means that all policies will mature at policy

anniversary coinciding with or following the life insured attaining the age of #$$


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years.

Premium

Payment Term

#$ Iears, #% Iears or 3$ Iears

5iders

Max Life Payor 5ider .9I:3 2ider >ates

Please :ote3 The above mentioned boundary conditions are for the "olicyholder *"ayor+.

@or more details on the rider and the various terms and conditions, please refer to the rider

brochure.

>ider =ontract

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Max Life Term Plus 5ider .) non-lin1ed rider/.2


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why we offer you a solution to make your protection planning more comprehensive. Iou can add

Max Life Term "lus>ider to your life insurance policy *base plan+ to provide additional

protection against an unfortunate incident. This rider provides additional death benefit in case of

your death. The benefits under this rider are payable along with the base plan benefit*s+.

• Minimum rider term1 % years

• Maximum rider term1 C% years


o >ider term cannot be greater than the outstanding "remium "ayment Term of the

base policy. "lease note that the minimum outstanding premium payment term of

the base policy should be a minimum of % years.

o >ider term cannot be greater than Maximum maturity age less entry age of Life

nsured at inception of the rider




@or further details please refer to the Max Life Term Plus 5ider Sales $rochure7 5ider

'ontract7 5ider 5ates ? 5ider Leaflet

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Max Life )ccidental %eath and %ismemerment 5ider ; ) non lin1ed rider.9I: -

2


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+ntry )ges .age as on

last irthday/

Minimum 7ntry (ge A #9 years

Maximum 7ntry (ge & 5% years

Maximum Maturity )ge

*age as on last birthday+

n policy anniversary coinciding with or immediately following the

"olicyholder attaining age of 8$ years

5ider $enefit




please refer to the sales

brochure attached below+



$8 )ccidental %ismemerment $enefit3

ider um (ssured will be


from the happening of such (ccident *and before the expiry of rider term+and independently of all other causes, results in Life nsured being sub-ect









The rider will terminate when the >ider um (ssured is paid either due to

dismemberment or due to death, whichever is earlier.

Premium 5ate ."er

annum/







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@or more details, please refer to the Max Life (ccidental /eath and /ismemberment 5ider

$rochure, 5ider 'ontract7 5ider Leaflet

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Max Life Aaiver of Premium Plus 5ider ; ) :on-Lin1ed 5ider .9I:3 2ider provides waiver for all future premiums under a policy and all other

attaching riders on earlier happening of either of the following events,

provided the base policy and attaching riders are in force1

http://www.maxlifeinsurance.com/pdf/accidental-death-and-dismemberment-rider.pdfhttp://www.maxlifeinsurance.com/pdf/accidental-death-and-dismemberment-rider.pdfhttp://www.maxlifeinsurance.com/pdf/accidental-death-and-dismemberment-rider.pdfhttp://www.maxlifeinsurance.com/pdf/accidental-death-and-dismemberment-rider-contract.pdfhttp://www.maxlifeinsurance.com/pdf/accidental-death-and-dismemberment-rider-contract.pdfhttp://www.maxlifeinsurance.com/pdf/accidental-death-and-dismemberment-rider-leaflet.pdfhttp://www.maxlifeinsurance.com/pdf/accidental-death-and-dismemberment-rider.pdfhttp://www.maxlifeinsurance.com/pdf/accidental-death-and-dismemberment-rider.pdfhttp://www.maxlifeinsurance.com/pdf/accidental-death-and-dismemberment-rider-contract.pdfhttp://www.maxlifeinsurance.com/pdf/accidental-death-and-dismemberment-rider-leaflet.pdf


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• =ritical llness6 or

• /ismemberment6 or

• /eath *only when Life nsured and "olicyholder are different

individuals+

nce claim under this rider is accepted and future premium*s+ are waived6

then in case of termination of base policy due to happening of any insured

event or surrender *only if surrender value is available under the base

policy+, the following benefits are payable1&

• (ll applicable benefits under the base policy

• The present value of the future "remium *including rider premium,

if any+ to be waived, discounted at the rate of 5.%4 p.a.

Minimum Premium The Minimum (nnual "remium is >s. 3 per annum for age at entry of #9

years *age as at last birthday+, >ider Term of % years and 'ase "lan

"remium of >s. #,$$$.

Maximum Premium The maximum rider premium will be calculated basis the maximum base

plan premium to which the rider is attached sub-ect to maximumof >s. C,%$,$$$ per life.

The Max Life ider premium shall, in no case

exceed,

• C$4 of premiums *including extra premium, if any+ payable under

the base policy when attached to a savings plan, and

• #$$4 of premiums *including extra premium, if any+ payable

under the base policy when attached to a term plan.

Max Life Life Gain Premier


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n your -ourney through life, you plan to fulfill various important goals like your children?s

education and:or marriage, peaceful retirement life etc. (t Max Life nsurance, we understand

the significance of these milestones and help you plan for them, financially.

Max Life Life !ain "remier will help you save systematically to build a corpus, which you can

utiliBe to fulfill the important goals of your life.

Key features

• Flexile Premium Payment Terms and Policy Terms ; The plan offers you 5 options

to choose from, basis your need

o 5 or 9 years "remium "ayment Terms with "olicy Terms of #% and 3$ years

o #$ years "remium "ayment Term with "olicy Term of 3$ years

o #3 years "remium "ayment Term with "olicy Term of 3% years

• Flexile $onus ("tions - The plan offers the flexibility to choose from C bonusoptions

basis your need.

• Guaranteed Maturity $enefit - The plan offers #$$4 of !uaranteed Maturity um

(ssured on maturity of the policy

• Guaranteed %eath $enefit - The plan offers a guaranteed death benefit to ensure

financial security of your loved ones in case of any exigencies

• Terminal Illness $enefits - n case you are diagnosed to be suffering from a disease

which is likely to lead to death within six months, the =ompany will pay %$4 of

!uaranteed Maturity um (ssured *sub-ect to maximum of >s. #$ lacs+ to you as an

advance

• Guaranteed Solution For our 'hilds :eeds - "urchase the product on your spouse?s

name along with Max Life "ayor >ider *FE1 #$;'$#CO$;+. This will ensure policy

continuance and availability of funds for your child?s education : marriage at maturity

even in your absence

• Flexiility To Aithdra# Money To Meet )ny +mergency - Iou have the flexibility to

withdraw the accumulated bonuses *cash value of the "aid & Fp (dditions+ in case of any

need. This is applicable if the bonus option chosen is "aid & Fp (dditions

PL): $+:+FITS


22/63

7vents How and

when are

benefits

payableN

iBe of such benefits : policy monies

Maturity 'enefit "ayable on

Maturity of

the policy

Maturity 'enefit of #$$4 of !uaranteed Maturity um (ssured along

with (ccrued "aid & Fp (dditions *if any+ and Terminal 'onus *if any+

at the end of "olicy Term to fulfill the desired milestone in life

/eath 'enefit "ayable on

the death

of the Life

nsured

(n death during the term of the "olicy7 the follo#ing enefits #ill

e "aid3

• !uaranteed /eath 'enefit, plus

• (ccrued "aid&up (dditions *if any+, plus

• Terminal 'onus *if any+

Guaranteed %eath $enefit is defined as higher of3

• ## times the annualised premium),

• #$%4 of all premiums paid as on the date of death,

• !uaranteed Maturity um (ssured

The policy will terminate in case of the death of the Life nsured.

) Annualised remium includes extra premium (if an!$ "ut excludes

service tax, education cess and an! loadins for modal premiums and

remains same irrespective of t#e premium pa!ment mode

Terminal llness'enefit

Lifensured

suffering

from

Terminal

llness

n case the Life nsured is found to be suffering from a disease that islikely to lead to the /eath of the Life nsured within six months of

diagnosis in the opinion of a >egistered Medical "ractitioner, the

=ompany will advance %$4 of the !uaranteed Maturity um (ssured

*upto maximum of >s. #$ Lacs across all policies which provide this

benefit+ immediately upon "olicyholder?s re2uest


23/63

@or more details please read the ales 'rochure carefully.

(nnual 'onus The product has a =ash 'onus system. 'onuses will be declared every

year from the end of 3nd policy year *3;th policy month+ on the

!uaranteed Maturity um (ssured and from the end of Crd policy year *C5th policy month+ on accrued "aid&up additions *if any+ and every

year end, thereafter. The Policyholder can ta1e onuses through

any of the three o"tions 3

• Purchase Paid-u" )dditions .P9)/ &'onus declared by the

=ompany will be used to purchase "aid&up (dditions. These

"F( increase the um (ssured under the policy and will be

payable in full on the earlier of /eath or Maturity. (lso these

"F(s will earn further bonuses to increase the value of the

policy. n case of surrender, cash valueof the "F( will be paid

to the "olicyholder. The "F( purchase rates are not

guaranteed and can be changed by the =ompany with prior

approval of >/(.

• Premium (ffset - "olicyholder can also opt to utiliBe the

=ash 'onus declared by the =ompany to offset future

premiums payable under the policy. n case the =ash 'onus is

not sufficient to pay the full premium then "olicyholder will

have to pay the balance premium to keep the policy in force.

However, if the =ash'onus exceeds the premium due then the

balance will be paid to the "olicyholder

Paid In 'ash - 'onus declared by the =ompany is paid out to the

"olicyholder as and when declared

Terminal 'onus Terminal 'onus is an additional bonus paid only E=7, on earlier of

/eath, urrender or Maturity, provided the policy has been in force for

at least ten years i.e. payable in case of claims made from the end of

#3$th month onwards.

Loan @acility (fter the

policy has

ac2uired

urrender

"olicy loans will be available under this product sub-ect to a

maximum of %$4 of pecial urrender Oalue as per existing Terms

and =onditions of policy loans at Max Life nsurance. The company

will charge an interest rate on the loan, currently ##4


24/63

Oalue p.a.compounded annually.

The minimum loan amount that can be granted under the policy at any

time will be >s. #$,$$$. Fpon grant of a loan under this "olicy, the

"olicy shall automatically be assigned in favour of the =ompany, till

the time the entire loan amount including interest, any fees or duestowards such loan has been repaid to the =ompany. n such

repayment of the loan and accumulated interest, if any, the "olicy will

be reassigned to the "olicyholder.

n case the policyholder has availed a loan under his:her policy, at

anytime thereafter, should the loan together with interest thereon

exceed the surrender value, the policy shall terminate. However, the

policy shall not terminate and shall continue along with the insurance

cover in case all due premiums have been received by the =ompany or

the policy is fully paid up.

n case the policyholder has availed a loan under his:her policy, the

default bonus option will be "aid&Fp (dditions. The ?"aid in =ash? and

?"remium ffset? bonus option will not be available and

the bonusoption will be converted to ?"aid&Fp (ddition? automatically

and will continue to be the default bonusoption even after the loan

*including accumulated interest+ has been repaid. "ost such

repayment, you will be allowed to change the bonus option by

submitting a written re2uest to the =ompany to affect the same. (lso,

you will not be allowed to surrender the accrued "aid&Fp (dditions

unless the loan is paid back along with accrued interest.

(ll benefits payable *urrender, Maturity or /eath+ will be first used

to offset the outstanding policy loan and interest prior to being paid to

the customer.

"lease note that loan cannot be taken more than once in the policy

term, if loan is outstanding against the policy.

"olicy is eligible for loan in the >"F status. However, if the loan P

interest is greater than the surrender value, the policy will terminate.

Tax $enefits3 Iou may be entitled to certain applicable tax benefits on your

premiums and "olicy benefits. "lease note that all the tax benefits are sub-ect to taxlaws prevailing at the time of payment of premium or receipt of benefits by you. t

is advisable to seek an independent tax consultation.

)re you eligile,


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)vailale Issue

)ges .)ge Last

$irthday/

Minimum )ge3 #9 years

Maximum )ge3 %% years for #%:3$ year "olicy Term

%$ years for 3% year "olicy Term

MaximumMaturity )ge .)ge

Last $irthday/

For 2! years Policy Term3 8$ years@or 3$ years and 3% years "olicy Term1 8% years

0o# the "lan #or1s,

'ase Study

Mr. harma is ;% year old salaried employee. He has a % year old daughter ameera. Mr. harma

is planning to save for ameera?s marriage and buys Max Life Life !ain "remier for this

purpose.

0o# does Life Gain Premier #or1 for Mr8 Sharma

• Ste" 23 Mr. harma chooses the #$&pay 3$&year variant of Max Life Life !ain "remier

with his daughter ameera?s marriage as his goal.

• Ste" 43 He chooses to save >s. %$,$$$ every year, for a !uaranteed Maturity um

(ssured of >s. %,9;,C#8

• Ste" E3 He chooses the "F( bonus option.

Scenario 23

Mr. harma pays all due policy premiums and survives till the end of the policy term.

Mr8 Sharma gets the follo#ing on maturity of the "olicy3

Guaranteed Maturity $enefit3 >s. %, 9;,C#8

)ccrued P9)3

)ssuming =B return3 >s. 59,D$8

)ssuming CB 5eturn3 >s. ;,;5,#D#

Terminal $onus3

)ssuming =B return3 >s. #5,CC#

)ssuming CB 5eturn3 >s. 3%,85C


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Total Maturity cor"us3

)ssuming =B return3 >s. 5,5D,%%%

)ssuming CB 5eturn3 >s. #$,%5,38#

Scenario 43

Mr. harma passes away in the %th year after payment of five annualised premiums.

Mr8 Sharmas family gets the follo#ing enefits3

Guaranteed %eath $enefit3 >s. %,9;,C#8

)ccrued P9)3

)ssuming =B return3 >s. #C,9%D

)ssuming CB 5eturn3 >s. 8;,3%3

Total %eath $enefit3

)ssuming =B return3 >s. %,D9,#85

)ssuming CB 5eturn3 >s. 5,%9,%5D

*Im"ortant :otes

• Gindly note that the above case studies are only examples and do not in any way create

any rights and:or obligations.

•The actual experience of the policy may be different from what is shown above. Theabove scenarios are depicted at ;4 and 94 investment returns.

• 'onuses are non&guaranteed and are declared at the sole discretion of the =ompany.



27/63

Policy Term .PT/ #% years, 3$ years and 3% years

Premium Payment

Term .PPT/

@or #% years "T, choose either 5 years "remium "ayment Term or 9 years"remium "ayment Term

@or 3$ years "T, choose either 5 years "remium "ayment Term or 9 years

"remium "ayment Term or #$ years "remium "ayment Term@or 3% years "T, #3 years "remium "ayment Term

Minimum and

Maximum

Premiums

Minimum Premium3

"ayment Mode

Minimum "remium

*n >s.+

(nnual >s. 9,%$$ paid annually

emi&(nnual >s. 5,$$$ paid semi&

annually

uarterly >s. ;,$$$ paid 2uarterly

Monthly >s. #,%$$ paid monthly

*Minimum "remium excludes service tax, education cess and extra premium, if

any+

Maximum Premium3 Eo Limit,

Guaranteed

Maturity Sum

)ssured

Minimum 3 >s. %$,$$$ sub-ect to minimum premium as mentioned above

Maximum 3 Eo Limit

Premium ModesMode Modal Factors

(nnual #.$$$

emi&(nnual $.%3$

uarterly $.35%

Monthly $.$D$

5iders

Max Life Payor 5ider .9I:3 2


28/63

>ider 'oundary conditions are as under1

7ntry (ges *(ge Last

'irthday+

Minimum A 3$ years

Maximum & %% years

Maximum Maturity (ge

*(ge Last 'irthday+

5$ years

"remium Modes ame as 'ase "olicy

Minimum:Maximum

"remium

'ased on the minimum and maximum premium under the 'ase "olicy and

any attaching rider .

However, the rider premium shall in no case exceed C$4 of premiums

payable under the 'ase "olicy.

Max Life "ayor >ider >ates

The rider ensures policy continuance even in case of death or Total and "ermanent

/isability of the "ayor. This rider can be taken only if the "olicyholder is different

from the Life nsured.

@or more details on the rider and the various terms and conditions, please refer to

the rider brochure.

>ider =ontract

Max Life Term Plus 5ider .) non-lin1ed rider/.2


29/63


o >ider term cannot be greater than the outstanding "remium "ayment

Term of the base policy. "lease note that the minimum outstanding

premium payment term of the base policy should be a minimum of %years.

o >ider term cannot be greater than Maximum maturity age less entry

age of Life nsured at inception of the rider




@or further details please refer to the Max Life Term Plus 5ider Sales $rochure7 5ider'ontract 7 5ider 5ates7 5ider Leaflet

&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&

Max Life )ccidental %eath and %ismemerment 5ider ; ) non lin1ed rider.9I: -

2


30/63

5ider $enefit




please refer to the sales brochure attached below+



$8 )ccidental %ismemerment $enefit3ider um (ssured will be


from the happening of such (ccident *and before the expiry of rider term+

and independently of all other causes, results in Life nsured being sub-ect









The rider will terminate when the >ider um (ssured is paid either due todismemberment or due to death, whichever is earlier.

Premium 5ate ."er

annum/






@or more details, please refer to the Max Life (ccidental /eath and /ismemberment 5ider

$rochure, 5ider 'ontract7 5ider Leaflet

&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&

Max Life Aaiver of Premium Plus 5ider ; ) :on-Lin1ed 5ider .9I:3 2


31/63

a life insurance policy that ensures long&term financial protection for your family. ider Term1 & ame as base plan "remium "ayment Term,

sub-ect to a maximum of C% years and "olicyholder not exceeding age of

8$ years *age as at last birthday+.

+ntry )ges .age as on

last irthday/

Minimum 7ntry (ge A #9 years

Maximum 7ntry (ge & 5% years

Premium Payment Term ame as >ider Term

Premium Payment Mode ame as base plan

Maximum Maturity )ge

*age as on last birthday+

n policy anniversary coinciding with or immediately following the

"olicyholder attaining age of 8$ years.

5ider $enefit






>ider provides waiver for all future premiums under a policy and all other

attaching riders on earlier happening of either of the following events,

provided the base policy and attaching riders are in force1

• =ritical llness6 or

• /ismemberment6 or

• /eath *only when Life nsured and "olicyholder are different

individuals+


32/63

nce claim under this rider is accepted and future premium*s+ are waived6

then in case of termination of base policy due to happening of any insured

event or surrender *only if surrender value is available under the base

policy+, the following benefits are payable1&

• (ll applicable benefits under the base policy

• The present value of the future "remium *including rider premium,

if any+ to be waived, discounted at the rate of 5.%4 p.a.

Minimum Premium The Minimum (nnual "remium is >s. 3 per annum for age at entry of #9

years *age as at last birthday+, >ider Term of % years and 'ase "lan

"remium of >s. #,$$$.

Maximum Premium The maximum rider premium will be calculated basis the maximum base

plan premium to which the rider is attached sub-ect to maximum

of >s. C,%$,$$$ per life.

The Max Life ider premium shall, in no case

exceed,

• C$4 of premiums *including extra premium, if any+ payable under

the base policy when attached to a savings plan, and

• #$$4 of premiums *including extra premium, if any+ payable

under the base policy when attached to a term plan.


33/63

Grou" "lans

Max Life Group Gratuity Premier Plan

Max Life !roup !ratuity "remier "lan facilitates the employers to fund their gratuity liability in

the most effective manner. This plan helps the employer in the following ways1

• The gratuity fund is built up systematically to meet the future gratuity payments

• The fund will earn returns as per the performance of the funds opted by you. 'etter fund

performance will increase returns and reduce cost to the employer

• (ssistance in the formalities re2uired for the formation of the trust and approval of the

fund.

• (ssistance in the administration of the scheme

• @ixed =over of >s. #,$$$ per eligible member

Key Features3

• Lower charges A Eo "olicy administration charge6 Eo witching charges6 Eo "remium

allocation charge6 Eo "remium redirection charge6 only @und Management, Mortality 0

urrender charge applicable

• !uaranteed Loyalty (ddition of $.#4 per annum as a percentage of unit fund added at

the end of every monthiversary in case fund value is #$ crores and above.

• @lexibility to choose from ; fund options

Plan $enefit3

+vents 0o# and

#hen $enefits

are "ayale

Sie of such enefits "olicy monies

%eath of Memer "ayable on

death provided

the policy is in

ub-ect to scheme rules, the benefit payable is accrued gratuity

based on the salary at the time of death sub-ect to availability

of fund in the scheme plus an amount of >s. #,$$$ from the


34/63

force compulsory insurance cover.

Maturity of Memer n retirement

or resignation

of a memberfrom

employment

ub-ect to scheme rules, (ccrued !ratuity based on salary at

retirement or resignation will be paid sub-ect to availability of

fund in the scheme.

SurrenderTerminati

on

of scheme

"olicy can be

surrendered :

terminated at

any time by

giving a C

month?s notice.

@und value less applicable surrender charges.

Loyalty )dditions !uaranteed

Loyalty

addition is

payable only

in case policy

is in force.

Fund Sie at the

time of loyalty

addition

Loyalty )ddition ex"ressed as a

"ercentage of 9nit Fund . )dded at

the end of every month/

Less

than >s.#$ =rores

Eil

!reater than or

e2ual

to >s.#$ =rores

$.$$9C4 per month

*$.#4 per annum+

The loyalty addition will be based on fund value*before the

addition of loyalty addition+ at the end of each month. The

loyalty addition as expressed in the table above shall be added

to the Fnit @und by creation of additional units. !uaranteed

Loyalty addition is payable only in case policy is in force.

The additional units shall be apportioned basis the proportion

of investment into each fund chosen by the "olicyholder.

Key 'harges3

• Premium )llocation 'harge- Eil


35/63

• S#itching Fee- Eil, unlimited free switches

• SurrenderTermination 'harge- f the fund is withdrawn before the completion of

three policy years a surrender charge of $.$%4 of the fund value sub-ect to a maximum

cap of >s. %$$,$$$ will be applicable. Eo surrender charge is applicable after completion

of C policy years.

• Policy )dministration 'harge- Eil

• Premium 5edirection 'harge - Eil

• Fund Management 'harge; This is a charge levied as a percentage of the value of

assets and shall be appropriated by ad-usting the net asset value. The rate of fund

management charge applicable is given below1

Eame of the @und =onservative@und

'ond@und

'alanced@und

!rowth @und

@und Management

=harge *"er annum+

$.;$4 $.;$4 $.;%4 $.%$4

=ompany may increase the fund management charge from time to time after clearance from

>/( but shall never exceed #.C%4 of the @und Oalue per annum.

)(bove charges sub-ect to ervice Tax 0 7ducation =ess as per applicable laws.

)re ou +ligile,

• MinimumMaximum Initial 'ontriution ; >s. %$$,$$$ : Eo Limit *as per actuarial

valuation (%*>+

• Sum )ssured ; @ixed life insurance cover of >s. #,$$$ per member

• Grou" Sie ; Minimum1 #$ at time of taking of scheme 6 Maximum1 Eo limit

• Policy Term -ne Iear >enewable cheme

• MinimumMaximum +ntry )ges .as at last irthday/ ; #9:8; Iears

• Maximum cover ceasing age .as at last irthday/ A 8% Iears

0o# this "lan #or1s,


36/63

• The employer first creates a trust and appoints Trustees to administer the gratuity scheme.

However, it may be noted that the trust may or may not be created by employer.

Therefore under the "olicy, either Trustees or the employer can be a "olicyholder. The

"olicyholder pays an initial contribution 0 annual contribution to Max Life nsurance

=ompany towards gratuity liability. nitial contribution is the contribution in respect of

any past service gratuity liability of the employer. This contribution may be paid at the

time of the policy issuance or at any time during the first five policy year in not more

than five annual installments. (nnual contribution is the contribution in respect of any

gratuity liability accruing in respect of the service completed by the employees in the

current policy year. These payments would normally be based on upon the actuarial

advice to the Trustees by an ndependent consulting actuary *who is not employed by

Max Life+.

• The "olicyholder can invest the contributions in the investment funds offered by Max

Life nsurance. =urrently Max Life nsurance offers ;*four+ investment funds under this

scheme viB. =onservative @und, 'alanced @und, !rowth @und and 'ond @und. Max Life

nsurance will open and manage a QFnit (ccountR for the "olicyholder in which units are

allocated following the receipt of contributions and cancelled for the purpose of paying

gratuity benefit and charges.

• ( member on either leaving service due to retirement: resignation or on death:disability

during the service, or any other such event that may terminate the employment after five

years, Max Life nsurance will pay the benefit by redeeming the units in the investment

funds to pay the gratuity benefit. The condition of continuous service of five years is not

necessary if the termination of employment is due to death or disablement. Thecontributions and benefits under the product will be applicable as per scheme rules.

"lease note that the maximum liability of company shall be limited to the unit account

value of the policy.


37/63

Max Life Grou" Su"er Life Premier In Lieu (f +%LI

@or all employees who are covered under the 7mployees’ "rovident @und and Miscellaneous

(ct, #D%3, it is mandatory for you as an employer to subscribe to an 7mployee’s /eposit Linked

nsurance cheme #D85, which aims at providing benefit of life insurance to all employees.

Fnder this scheme, the deceased employee’s insurance benefit will depend on the length of

service and the "@ balance in the account.

Key Features

• t?s an excellent tool for securing the employees? future against death

•


38/63

Surrender n member exiting from a scheme "roportionate premium for the unexpired

period of risk

Survival

$enefit

E( E(

Key 'harges and FreHuency of 'harges

Fnder the 7mployee /eposit Linked nsurance scheme with >"@= *>egional "rovident @und

=ommissioner+ the employer makes the following contributions 1

• =ontribution of $.%$ 4 of each employee?s monthly wages * 'asic P /earness (llowance

P >etaining allowance+ or >s. #%,$$$ whichever is lower

• (dministrative =harges S $.$#4 of the employee?s wages * 'asic P /earness (llowance

P >etaining allowance+ or >s. #%,$$$ whichever is lower

'y opting for a Max Life !roup uper Life "remier in lieu of 7/L the employer would

continue to pay the (dministrative =harges of $.$#4 under (ccount 33 to >"@=, however the

other contribution of $.%$4 would no longer be re2uired.

)re you eligile,

• Minimum entry age & #9 years age last birthday

• Maximum entry age & 8; years age last birthday

• Maximum maturity age & 8% years age last birthday

Maturity age:=over ceasing age will be determined as on "olicy anniversaryfollowing or

coinciding age 8% years

• Minimum Sum )ssured & >s. C,5#,$$$ per member

• Maximum Sum )ssured & >s. #$,$$,$$$ per member

• Tenure & ne year and renewable thereafter

• Payor of "remium & 7mployer

• Minimum grou" sie & #$

• Maximum grou" sie & Eo limit


39/63

• Minimum Premium & >s. %,$$$ per annum per scheme

• Premium mode & (nnual, semi&annual, 2uarterly, and monthly

5ider

Max Life Grou" )ccidental %eath $enefit Premier 5ider .9I: ; 2


40/63

• Maximum age at entry & 8; years *(ge last birthday+

• Maximum age at maturity & 8% years *(ge last birthday+. The maximum cover ceasing

age for the rider is 8% years *age last birthday+ as on policy anniversary.

• Premium mode & The premium payment mode for the rider is the same as the base policy premium payment mode. This rider allows annual, half&yearly, 2uarterly and

monthly premium paying modes.

• 5ider Term & # year

• 5ider Sum )ssured & ame as base plan?s death benefit, sub-ect to a minimum

of >s. %,$$$ per member and a maximum of >s. %$ lakhs per member. ncrease or

decrease in the rider sum assured will depend on the increase or decrease in the base plan

sum assured.

• Maximum Premium & Maximum premium under this rider together with other riders,

shall not exceed

o #$$4 of the premium payable under the base policy when attached to a !roup

Term plan,

o #%4 of premium payable under the base policy when attached to a !roup "ension

"lan

o C$4 of premium payable under the base policy6 when attached to any other plan

*other than !roup Term and !roup "ension plan

Max Life Grou" 'ritical Illness .)dditional $enefit/ 5ider .9I: ;2


41/63

• Maximum age at maturity & 55 years *(ge last birthday+.

• Premium mode & The premium payment mode for the rider is the same as the base

policy premium payment mode. This rider allows annual, half&yearly, 2uarterly and



• 5ider Sum )ssured & Minimum1 >s. %,$$$ per member

Maximum1 >s. %$ lakhs per member sub-ect to

*a+ rider sum assured not exceeding sum assured under base plan of the scheme member

and

*b+ rider premium not exceeding premium under base plan of the scheme member.

>ider sum assured may be increased or decreased sub-ect to underwriting and *a+ and *b+

above.

• Maximum Premium & Eo Limit, sub-ect to 'oard approved underwriting policy of the

=ompany. Maximum premium under this rider together with other health riders shall not

exceed #$$4 of the premium payable under the base policy.

Max Life Grou" Total and Permanent %isaility .)ccident/ Premier 5ider.9I:3

2


42/63






Maximum1 >s. %$ lakhs per member sub-ect to rider sum assured not exceeding sum

assured under base plan, and rider premium not exceeding premium under base plan of

the scheme member.

>ider sum assured may be increased or decreased sub-ect to rider sum assured not

exceeding the base plan sum assured of the scheme member, and rider premium not

exceeding premium under base plan of the scheme member.

• Maximum Premium & Maximum premium under this rider together with other rider s

shall not exceed #$$4 of the premium payable under the base policy, other than pension

plan, where the rider premium shall not exceed #%4 of the premium payable under other

the base policy.

Max life grou" su"er life "remier

n all sectors of the economy, whether organiBed or unorganiBed, employees of an organiBation

are its most critical and important asset. However, creating a motivated workforce with healthy

retention rates is a key challenge an organiBation usually faces. 7mployers across the world

strive to secure and ensure benefits for their employees.


43/63

• /eath due to any reason is covered

• /eath benefit is not sub-ect to tax in the hands of the beneficiary

$enefit under this Plan3

PL): $+:+FITS

+vent

'overed

0o# and #hen are enefits

"ayale,

Sie of such enefits "olicy monies

%eath n Lump um.

n death due to natural causes oraccidental

um (ssured chosen

Maturity E( Eil

Surrender n member exiting from a scheme "roportionate premium for the unexpired period

of risk

Survival

$enefit

E( E(

)re you eligile,

• Policy Term & # year

• Minimum grou" sie & #$ Members in case of 7mployer & 7mployee !roups and %$

Members in case of Eon 7mployer 7mployee !roups

• Maximum grou" sie & Eo limit

• +vent covered & /eath *natural or accidental+

• Minimum sum assured ; >s. #,$$,$$$ for a scheme. >s. %,$$$ for a member

• Maximum sum assured & Eo limit, but sub-ect to underwriting


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• Minimum "remium & >s. %,$$$ per annum per scheme excluding extra

mortality,rider premium and service tax

• Maximum "remium & ub-ect to board approved underwriting policy

• Minimum +ntry )ge3 #9 years *age last birthday+

• Maximum +ntry )ge3 8; years *age last birthday+ for employer&employee groups 6 5;

years *age last birthday+ for non employer&employee groups

• Maximum Maturity )ge3 8% years *age last birthday+ for employer&employee groups6

5% years *age last birthday+ for non employer&employee groups.Maturity age:=over

ceasing age will be determined as on "olicy anniversary following or coinciding age

8%:5% years, as the case may be

5ider

Max Life Grou" )ccidental %eath $enefit Premier 5ider .9I: ; 2


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• +vent covered & Terminal llness is any condition from which an insured member is

suffering which, in the opinion of a Medical "ractitioner and on approval of such an

opinion by the =ompany?s appointed Medical "ractitioner, is likely to result in the death

of the Life nsured within 5 *six+ months from the date of such certification by a Medical

"ractitioner. s. %$ lacs on the approval of Terminal llness claim filed

• Minimum age at entry & #9 years *(ge last birthday+

• Maximum age at entry & 8; years *(ge last birthday+

• Maximum age at maturity & 8% years *(ge last birthday+. The maximum cover ceasing

age for the rider is 8% years *age last birthday+ as on policy anniversary.





• 5ider Sum )ssured & ame as base plan?s death benefit, sub-ect to a minimum

of >s. %,$$$ per member and a maximum of >s. %$ lakhs per member. ncrease or

decrease in the rider sum assured will depend on the increase or decrease in the base plan

sum assured.

• Maximum Premium & Maximum premium under this rider together with other riders,

shall not exceed

o #$$4 of the premium payable under the base policy when attached to a !roup

Term plan,

o #%4 of premium payable under the base policy when attached to a !roup "ension

"lan

o C$4 of premium payable under the base policy6 when attached to any other plan*other than !roup Term and !roup "ension plan

Max Life Grou" 'ritical Illness .)dditional $enefit/ 5ider .9I: ;2


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• +vent covered & The =ritical llness (dditional 'enefit is payable to the member insured

on re2uest being received from the "olicyholder only in respect of the first incidence in

the lifetime of Life nsured of one of the #3 specified =ritical llnesses being diagnosed

during the period of the cover and the nsured member surviving at least C$ days from the

date of first diagnosis.

The rider benefit is an additional benefit with the base policy benefit*s+ remaining

unaltered on rider benefit payment. =ritical llness benefit is payable only once during the

lifetime of the member.


• Maximum age at entry & 5% years *(ge last birthday+







Maximum1 >s. %$ lakhs per member sub-ect to

*a+ rider sum assured not exceeding sum assured under base plan of the scheme member

and

*b+ rider premium not exceeding premium under base plan of the scheme member.

>ider sum assured may be increased or decreased sub-ect to underwriting and *a+ and *b+

above.

• Maximum Premium & Eo Limit, sub-ect to 'oard approved underwriting policy of the

=ompany. Maximum premium under this rider together with other health riders shall not

exceed #$$4 of the premium payable under the base policy.

Max Life Grou" Total and Permanent %isaility .)ccident/ Premier 5ider.9I:3

2


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the rider are in force at the time of the accident and diagnosis of Total and "ermanent

/isability. The benefit is an additional payment to the base policy sum assured and paid

only once per cover irrespective of other in-uries or disability.

( written intimation of the (ccident should be given within C$ days of (ccident to the

insurer


• Maximum age at entry & 5% years *(ge last birthday+







Maximum1 >s. %$ lakhs per member sub-ect to rider sum assured not exceeding sum

assured under base plan, and rider premium not exceeding premium under base plan of

the scheme member.

>ider sum assured may be increased or decreased sub-ect to rider sum assured not

exceeding the base plan sum assured of the scheme member, and rider premium not

exceeding premium under base plan of the scheme member.

• Maximum Premium & Maximum premium under this rider together with other rider s

shall not exceed #$$4 of the premium payable under the base policy, other than pension

plan, where the rider premium shall not exceed #%4 of the premium payable under other

the base policy.

G5(AT0 PL):S

Max Life Fast Trac1 Su"er "lan

http://www.maxlifeinsurance.com/Plans/insurance-plans/growth/fast-track-super.aspxhttp://www.maxlifeinsurance.com/Plans/insurance-plans/growth/fast-track-super.aspx


48/63

Iour investments need a product that helps you achieve your goals, by providing you with

portfolio strategies and multiple @und options.

"resenting Max Life Fast Trac1 Su"er, a product that helps you in planning your finances

better so that your future years are the best years of your life.

Key features

• =omprehensive Life insurance coverage.

• ption to choose "olicy Term and "remium "ayment Term as per your convenience

• =hoice of % *five+ @unds for investors with different risk appetites

• ystematic @und Transfer and /ynamic @und (llocation mechanism to protect your

investments against market volatility

• @lexibility to make "artial


49/63

Life nsured term of the "olicy, higher of um (ssured or @und

Oalue *as on the date of death+, sub-ect to a minimum

of #$%4 of all premiums paid, shall be payable.

@ixed um (ssuredMultiple

ingle "ay #.3% times ingle "remium

% "ay #$ times (nnualiBed "remium

>egular "ay #$ times (nnualiBed "remium

Minimum @ixed

um (ssured

ingle "ay >s. #3%,$$$

% "ay >s. %$$,$$$

>egular "ay >s. 3%$,$$$

Maximum @ixed

um (ssured

Eo Limit, sub-ect to underwriting

!uaranteed Loyalty

(dditions

$.C$4 of fund value shall be added to the fund

by creation of additional units, at the end of

every policy year starting from ##th policy year.The loyalty additions increase by $.$34

*absolute+ each year thereafter. The additional

units shall be created in different funds in

proportion of @und Oalue at the time of credit.

Loyalty additions will be payable only on

>egular "ay for premium paying policies. n case

of revival of policies, the loyalty additions for

previous years will be paid based on the @und

Oalue prevailing at the revival date.

)re you eligile,

Minimum Maximum Minimum 7ntry (ge #9 years


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)ge of Life Insured at

+ntry .age as on last

irthday/

Maximum 7ntry (ge & % "ay and

ingle "ay

5$ years

Maximum 7ntry (ge & >egular "ay %$ years

Maximum Maturity

)ge .)ge Last

$irthday/

8$ years

0o# the "lan #or1s

'ontent #ith Illustration

Let’s look at some examples & 'elow mentioned premium rates and benefits are assumed for atandard Life, Male *without loading+

cenario 7xample # 7xample 3 7xample C

(ge of Life nsured *years+ C% C% C%

"remium "ayment Term *years+ # % 3$

"olicy Term *years+ #$ #$ 3$

(nnualised "remium >s. #%$,$$$ >s. 8%,$$$ >s. ;$,$$$

Maturity Oalue *S;4+ >s. #83,839 >s. CD$,933 >s. #,$$8,C3%

Maturity Oalue *S94+ >s. 3%%,9%9 >s. %CD,D$$ >s. #,%98,35C

"remium "ayment Mode1 (nnual6 tandard Life6 @und =hosen1 'alanced @und

"lease note that the above assumed rates of return, ;4 and 94, are only scenarios at these rates

after recovering all applicable charges. These are not guaranteed and they are not the upper or

lower limits of returns of the @unds selected in your policy, as the performance of the @unds is

dependent on a number of factors including future investment performance. (pplicable ervice

Tax, =ess, and any other taxes as imposed by the government from time to time will be deducted

from the premium received


51/63


"remium "ayment

Term

ingle "ay: % years *% "ay+ : 3$ years *>egular "ay+

"olicy Term #$ years for ingle "ay:% "ay and 3$ years for >egular "ay

"remium "ayment

Mode

(nnual, emi&annual, uarterly, Monthly

Minimum

(nnualiBed

"remium

ingle "ay >s. #$$,$$$

% "ay >s. %$,$$$

>egular "ay >s. 3%,$$$

Maximum

(nnualiBed

"remium

Eo Limit, sub-ect to underwriting

Key 'harges and FreHuency of 'harges

">7MFM (LL=(TE =H(>!7

(llocation =harge *as 4 of ingle : (nnualised "remium+

"olicy Iear ingle "ay % "ay >egular "ay

# ;4 ;4 ;4

3&% Eot (pplicable C4 C4

5$ Eot (pplicable Eot (pplicable C4

##&3$ Eot (pplicable Eot (pplicable $4

Fund Management 'harge

This is a charge levied as a percentage of the value of assets and shall be appropriated, usually


52/63

daily, by ad-usting the Eet (sset Oalue of the @und. The rate to be levied will be e2ual to the

annual rate, as given above, divided by C5% and multiplied by the number of days that have

elapsed since the previous unit valuation date. The annual rate of @und Management =harge is as

below.

:ame of Fund 'harge ."er annum/

as B of Fund &alue

5is1 5ating

Gro#th Su"er Fund

*@E1 FL@$##$9:$3:$8L@7!>


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.B of )nnualied Single Premium/

ingle "ay $.$%4 p.m. compounding at C4 p.a. from second year onwards up

to a maximum of >s.3$$ per month

% "ay and >egular "ay& (nnual

mode

$.CC4 p.m. compounding at ;4 p.a. from second year onwards up

to a maximum of >s.%$$ per month

% "ay and >egular pay& Eon

(nnual modes

$.3;4 p.m. compounding at ;4 p.a. from second year onwards up

to a maximum of >s.%$$ per month

Mortality 'harge

Mortality charge is levied for providing risk cover to the Life nsured during the "olicy Term.

n each monthly anniversary, appropriate number of Fnits are cancelled from the Fnit (ccountat their Fnit "rice starting from the date of commencement of the policy.

um at >isk J Maximum Maximum *um (ssured, #$%4 of Total "remiums "aid+ & @und

Oalue, $

(ge *years+ 3% C$ C% ;$ ;% %$

Mortality charge $.D9 #.$5 #.39 #.9$ 3.98 ;.D%

urrender :/iscontinuance

=harge

This charge shall be levied on the @und Oalue at the time of /iscontinuance of "olicy or effecting =omplete


54/63

C Lower of C4 of (nnualiBed "remium or C4 of @und Oalue or >s. ;,$$$

; Lower of 34 of (nnualiBed "remium or 34 of @und Oalue or >s. 3,$$$

% 0 (bove Eil

For Single Pay

"olicy Iear urrender =harge

# Lower of #4 of ingle pay premium or #4 of @und Oalue or >s. 5,$$$

3 Lower of $.%4 of ingle pay premium or $.%4 of @und Oalue or >s. %,$$$

C Lower of $.3%4 of ingle pay premium or $.3%4 of @und Oalue or >s.;,$$$

; Lower of $.#4 of ingle pay premium or $.#4 of @und Oalue or >s. 3,$$$

% 0 (bove Eil

S#itch 'harge

( maximum of twelve witches are allowed in any year and are free of charge

Premium 5edirection 'harge

( maximum of six "remium >edirections are allowed in each policy year and are free of any

charge

Partial Aithdra#al

(fter the first five policy years, a maximum of two "artial


55/63

Max Life Platinum Aealth Plan

Iou are a special person and deserve a special plan not only for your wealth preservation but also

for its growth to achieve your life’s goals.

"resenting Max Life Platinum Aealth Plan, that adds to your fortune and secures your familyfuture.

Key features

• 'om"rehensive Life insurance coverage for you

!et a life insurance cover of #$ times the (nnualised "remium *for Limited and >egular

"ay options+ from base policy. Iou can also opt for an additional life cover, with Max

Life "artner =are >ider .

• ("tion to choose Premium Payment Term and Policy Term as "er your convenience

"ay premiums for a limited period *one year or five years+ or entire policy term6 with

"olicy Term options available from #$ years to 3$ years *@or ingle "ay policies only #$

year "olicy Term is available+.

• our choice of Funds ? Investment strategies

=hoice of % *five+ @unds for investors with different risk appetites. (lternatively you may

select one of two fund strategies of ystematic Transfer "lan and/ynamic @und

(llocation, to protect your investments against market volatilities

• Guaranteed Loyalty )dditions and Guaranteed Aealth $oosters for you

7n-oy !uaranteed Loyalty (dditions and !uaranteed


56/63

Guaranteed Loyalty )dditions and Guaranteed Aealth $oosters

Guaranteed Loyalty )dditions3 The =ompany will pay additional percentage of @und Oalue to

the @und by creation of additional units, at the end of policy year.

Guaranteed Aealth $ooster3 (part from the !uaranteed Loyalty (dditions the company will

also pay !uaranteed egular "ay %%

Maximum Maturity (ge

*(ge as on Last 'irthday+

0o# this "lan #or1s

Let’s look some examples

to understand the product

benefits better

Scenario +xam"le 2 +xam"le 4 +xam"le E

Premium Payment Term Maximum Maturity )ge .years/

ingle "ay :Limited "ay

*% Iears+

8$

>egular "ay 5%


57/63

(ge of Life nsured C% C% ;%

"remium "ayment

Term : "olicy Term

3$ "ay : 3$

years

#$ "ay : #$

years

% "ay : #$ years

(nnualised "remium 3,$$,$$$ %,$$,$$$ 8,%$,$$$

um (ssured 3$,$$,$$$ %$,$$,$$$ 8%,$$,$$$

Total Maturity

'enefit *S;4+

>s. %%,CD,D$9 >s. %5,#D,85$ >s. ;C,#;,%$;

Total Maturity

'enefit *S94+

>s. 95,9;,3D% >s. 8$,#5,;8; >s. %D,3#,C8$

tandard Male Life, "remium "ayment Mode1 (nnual, @und =hosen1 'alanced @und

"lease note that the above assumed rates of return, ;4 and 94 are only scenarios atthese rates

after recovering all applicable charges. These are not guaranteedand they are not the upper or

lower limits of returns of the @und ptionselected in your policy, as the performance of the

@unds is dependent on anumber of factors including future investment performance. (pplicable

erviceTax, =ess, and any other taxes as imposed by the government from time to timewill be

deducted from the premium received

)out Premium Payment

"remium "ayment Term :

"olicy Term

Premium Payment

Term

Policy Term .years/

ingle "ay #$

Limited "ay *%

Iears+

#$ to 3$

>egular "ay #$ to 3$

(nnualised "remium Minimum1 >s. 3, $$,$$$6

Maximum1 Eo limit


58/63

(nnualised premium is defined as the total premium payable during a

policy year.

"remium "ayment Mode ingle "ay1 ne time "remium "ayment

Limited "ay *% Iears+ or >egular "ay1 (nnual, emi&(nnual, uarterly0 Monthly

"remium 'ands There are two premium bands in the product, as mentioned below1

'and #1 "remium of less than >s. % Lacs shall constitute 'and #

'and 31 "remium of >s. % Lacs and above shall constitute 'and 3

um (ssured Multiple ingle "ay1 #.3% times ingle premiumLimited "ay *% Iears+ : >egular "ay1 Higher of *#$ times (nnualised

"remium or $.% K "olicy Term K (nnualised "remium+

'harges under the Plan

Premium

)llocation

'harge

The premium allocation charge is levied as a percentage of each premium paid. The

rate of premium allocation charge for different variants is as follows1

Policy

year

Premium )llocation charge as a "ercentage of each "remium "aid

Single

Pay

variant

Limited Pay

variant

5egular Pay variant

)nnua

l Mode

:on

)nnual

Mode

)nnual

Mode

:on )nnual Mode

# C4 %4 ;.%4 %4 ;.%4

3 E( %4 ;.%4 %4 ;.%4

C to % E( ;4 C.%4 ;4 C.%4


59/63

5 to #$ E( E( E( ;4 C.%4

## 0

there

after

E( E( E( Eil Eil

Fund

Management

'harge

This is a charge levied as a percentage of the value of assets and shall be

appropriated, usually daily, by ad-usting the Eet (sset Oalue of the @und. The rate to

be levied will be e2ual to the annual rate, as given above, divided by C5% and

multiplied by the number of days that have elapsed since the previous unit valuation

date. The charges specified below are guaranteed and shall not change during the

policy lifetime. The annual rate of @und Management =harge is as below1

:ame of Fund 'harge ."er annum/

as B of Fund &alue

5is1 5ating

Gro#th Su"er Fund

*@E1

FL@$##$9:$3:$8L@7!>


60/63

Secure Plus Fund

*@E1

FL@$#539:$;:$DL@77="L#$;+

onl! availa"le 'it# S!stematic

Transfer lan

$.D$4 Low

%iscontinuance Policy Fund

*@E 1

FL@$$3$3#:$5:#C:L@7/=E#$

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