Max Life’s fixed-return smart digital plan now offers guaranteed returns of up to 7.25%
Becomes a lucrative short-term investment option for digital-savvy millennials New Delhi, Delhi, India (NewsView) Max Life Insurance Company Ltd. (“Max Life” / “Company”), declared a rate revision of up to 7.25%( 2) to its guaranteed savings plan, ‘Max Life Smart Fixed-return Digital Plan’.
Refers to maturity Table (1) Monthly age premium (in Rs.) IRR 25 20,000 7.23% 30 20,000 7.21% 35 20,000 7.17% 40 20,000 7.08% 25 30,000 7.26% 30,000 7.25% 35 30,000 7.20% 40,000 7.11% The fixed-return digital plan targets digital-savvy millennials who prefer quick and hassle-free onboarding. This product innovation combines a guaranteed offer(3), tax exemption* and life insurance protection, allowing young consumers to benefit from the double benefit of savings and protection within the same product offer. With this plan, clients can invest for a short period of only five years and can choose five or ten year policy terms. This plan can also be taken out by parents who wish to save for the school needs of their children. Key Features of the Max Life Smart Digital Fixed Return Plan • Fully guaranteed returns payable as a lump sum at maturity • Flexibility to pay premiums monthly or annually • Flexibility to choose between different variants, tailored to meet different security needs financial • Higher benefits offered for higher paid premiums, depending on chosen objectives • Special benefits for female clients: 0.25% additional maturity indemnity for a five-year policy term; 0.5% for the ten-year term of the policy • Possibility of taking out a policy loan to help you in the event of a financial emergency * You may be entitled to certain applicable tax advantages on your premiums and policy benefits. Please note that all tax benefits are subject to the tax laws in effect at the time the premium is paid or the benefits are received by you. Tax benefits are subject to changes in tax laws.
(1) The table shows the internal rate of return (IRR) at maturity after payment of all premiums due for clients of different ages opting for the Titanium variant with a premium payment term of 5 years and a term 10 year old police.
(2) For a 30-year-old male client investing Rs. 30,000 per month for 5 years and opting for the Titanium variant with a policy term of 10 years.
(3) Provided that all premiums due have been paid and the policy is in force. About Max Life Insurance (www.maxlifeinsurance.com) Max Life Insurance Company Limited is a joint venture between Max Financial Services Limited and Axis Bank Limited. Max Financial Services Ltd. is part of the Max group. Max Life offers comprehensive protection and long-term savings life insurance solutions, through its multi-channel distribution including agencies and third-party distribution partners. Max Life has built its operations over two decades through a needs-based sales process, a customer-centric approach to engagement and service delivery, and trained human capital. According to public disclosures and audited annual financial statements for the financial year 2021-22, Max Life earned a gross written premium of INR 22,414 crore. As of March 31, 2022, the company had INR 1,07,510 Crore in Assets Under Management (AUM) and an In Force Sum Insured of INR 1,174,515 Crore. For more information, please visit the company’s website at www.maxlifeinsurance.com.
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