Max Life launches life insurance plan, Smart Wealth Advantage Guarantee

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NEW DELHI: Max Life Insurance has launched its marquee Smart Wealth Advantage Guarantee Plan, a non-linked, non-participating individual life insurance savings plan that offers guaranteed returns, life insurance cover and financial protection all combined in one product.

With its comprehensive benefits, the Smart Wealth Advantage Guarantee Plan is a holistic product that endeavours to ensure customers meet their life goals and remain protected in the long-run from financial uncertainties.The product offers also offers the receipt of the annual income on a preferred date decided by the policyholder, and not necessarily at the anniversary of the policy issuance.

Prashant Tripathy, managing director & CEO, Max Life Insurance, said, “Life is ever-changing and as you grow, your and your family’s needs and aspirations also grow. Whether it is achieving milestones like buying your dream house, securing your child’s education or enabling a peaceful retirement, you need to safeguard them in today’s uncertain environment. Our Smart Wealth Advantage Guarantee Plan offers life insurance with wealth creation benefits, meant for a financially strengthened future. A marquee product from Max Life, it’s made on a very innovative design to provide a range of flexible options to the policyholder to choose from, without discounting the returns.”

Key features of the product are:

Enhanced flexibility: You can choose premium payment term, deferment period and income duration. Second, with ‘Save the Date’, receive annual income on your special date of the year e.g. birthday, marriage anniversary etc. Third, you can withdraw or accrue income at your needs.

Guaranteed income: You can get easy liquidity with income payout as early as first month. Second, get income returns up to 30-40 years with lump sum at maturity.

Full-proof financial protection: Offer of policy Continuance Benefit – incase of death of life insured, a guaranteed death benefit is paid to the family, while the survival and maturity benefit continue without paying any future premiums. Option to protect your long term savings plan against the risk of death, disease or disability. Second, get inbuilt ‘Additional Accidental Death Benefit’- amount equal to 50% of the sum assured is added to the policy as additional ‘Accidental Death Benefit’ as soon as premium payment term is over.

Secured retirement: Get tax free income for life. One may be eligible for tax benefits as per prevailing tax laws. GST applicable on premium as per prevailing tax laws. Get return of 50% of Total Premiums Payable at age 85 years (applicable under select variants only). Lastly, get additional 100% return of premium on maturity (applicable under select variants only).

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