Max Life launches life insurance coverage plan, Smart Wealth Advantage Guarantee

NEW DELHI: Max Life Insurance has launched its marquee Smart Wealth Advantage Guarantee Plan, a non-linked, non-participating particular person life insurance coverage financial savings plan that gives assured returns, life insurance coverage cowl and monetary safety all mixed in a single product.

With its complete advantages, the Smart Wealth Advantage Guarantee Plan is a holistic product that endeavours to make sure prospects meet their life objectives and stay protected within the long-run from monetary uncertainties.The product presents additionally presents the receipt of the annual earnings on a most popular date determined by the policyholder, and never essentially on the anniversary of the coverage issuance.

Prashant Tripathy, managing director & CEO, Max Life Insurance, mentioned, “Life is ever-changing and as you develop, your and your loved ones’s wants and aspirations additionally develop. Whether it’s attaining milestones like shopping for your dream home, securing your youngster’s training or enabling a peaceable retirement, you have to safeguard them in at present’s unsure setting. Our Smart Wealth Advantage Guarantee Plan presents life insurance coverage with wealth creation advantages, meant for a financially strengthened future. A marquee product from Max Life, it’s made on a really progressive design to offer a spread of versatile choices to the policyholder to select from, with out discounting the returns.”

Key options of the product are:

Enhanced flexibility: You can select premium cost time period, deferment interval and earnings period. Second, with ‘Save the Date’, obtain annual earnings in your particular date of the yr e.g. birthday, marriage anniversary and so on. Third, you’ll be able to withdraw or accrue earnings at your wants.

Guaranteed earnings: You can get simple liquidity with earnings payout as early as first month. Second, get earnings returns as much as 30-40 years with lump sum at maturity.

Full-proof monetary safety: Offer of coverage Continuance Benefit – incase of demise of life insured, a assured demise profit is paid to the household, whereas the survival and maturity profit proceed with out paying any future premiums. Option to guard your long run financial savings plan in opposition to the chance of demise, illness or incapacity. Second, get inbuilt ‘Additional Accidental Death Benefit’- quantity equal to 50% of the sum assured is added to the coverage as further ‘Accidental Death Benefit’ as quickly as premium cost time period is over.

Secured retirement: Get tax free earnings for all times. One could also be eligible for tax advantages as per prevailing tax legal guidelines. GST relevant on premium as per prevailing tax legal guidelines. Get return of fifty% of Total Premiums Payable at age 85 years (relevant beneath choose variants solely). Lastly, get further 100% return of premium on maturity (relevant beneath choose variants solely).

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