A Traditional Participating Whole Life Insurance Plan

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Categories:Finance Insurance

In your journey 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 unique need, we have introduced Max Life Whole Life Super, a life insurance plan in which you pay premiums only for a limited number of years and enjoy protection up to the age of 100 years. With the power of bonuses, life cover continues to increase as your age increases. In case of your death, your family will get a comprehensive death benefit that will take care of all the financial needs and provide a legacy for your family.
Additionally, this plan also provides the flexibility to withdraw money from your policy to support major or minor events without having to surrender your policy.
Key Benefits and Features
1. Protection till age 100 years
The plan offers you guaranteed protection for till age 100 years, which continues to grow through bonuses. On attainment of age 100 years, this plan gives you 100% of Guaranteed Maturity Sum Assured along with Accrued Paid Up Additions (if any) and Terminal Bonus (if any).
2. Flexible premium payment terms
The plan offers you flexibility to choose your premium payment terms that suits your requirement. You can choose either 10, 15 or 20 years as your premium payment term, depending on your financial goals.
3. Flexible Bonus Options
The plan offers the flexibility to choose among the following bonus options basis your need:
a. Paid in Cash - Bonus declared is paid to you in cash
b. Premium Offset - Bonus declared is used to offset future premiums payable by you
c. Paid Up Additions - Bonus declared is used to purchase additional sum assured that helps you boost the maturity value through power of compounding.
4. Flexibility to withdraw money to meet any of your Life's milestones
You have the flexibility to withdraw the accumulated bonuses (cash value of Paid up Additions) in case of any need*
*This is applicable if the bonus option chosen is Paid Up Additions (PUA).
Maturity Benefit
On maturity, that is, policy anniversary coinciding with or immediately following Life Insured's 100th birthday, the following benefit will be paid:
i. Guaranteed Maturity Sum Assured, plus
ii. Accrued Paid Up Additions (if any), plus
iii. Terminal Bonus (if any)
Death Benefit:
On death during the term of the policy, the following benefits will be paid:
Guaranteed Death Benefit, plus
Accrued Paid Up Additions (if any), plus
Terminal Bonus (if any)
Guaranteed Death Benefit is defined as higher of:
* 11 times the annualised premium#,
* 105% of all premiums paid by Policyholder as on the date of death of the life insured,
* Guaranteed Maturity Sum Assured chosen by the Policyholder at policy inception
The policy will terminate in case of the death of the life insured.
#Annualised Premium includes extra premium (if any) but excludes service tax, education cess and any loadings for modal premiums and remains same irrespective of the premium payment mode.

Hi, I am Ankita G working with comapny as adviser owing good knowledge of various policies such as Retirement pension plan, life insurance plan, Life Insurance, health ,home Insurance so on.


Hope Dauber