A plan that helps you grow your systematic savings to build a corpus to address all your life stage need while providing coverage against risk to take care of your loved ones in case of an exigency [UIN - 104N111V01]
Savings Advantage Plan
In your life, you may have many goals for which you save money. These may be short term goals, or long term goals. To ensure that you meet these goals like buying a sedan, planning for child education in an ivy college, planning for your daughter’s destination wedding you need a financial instrument that can systematically save and grow your money.
Presenting Max Life Savings Advantage Plan that will accelerate the growth in your systematic savings and help you build a corpus to address all your life goals while providing for insurance coverage at the same time to take care of your loved ones in case of an unfortunate event.
You have the flexibility to choose the Premium Paying Term and Policy Term as per your need, enabling you to decide the period for which you wish to save and the time for which you need money to fulfill your particular life stage needs.
This plan provides you guaranteed 5.5% of Sum Assured on Maturity as Guaranteed Additions at the end of each policy year, for first 5 policy years. to boost up your benefits.
Death Benefit that increases post 10 policy years
In case of death of Life Insured before or on completion of 10 policy years, a sum of Guaranteed Death Benefit, Accrued Guaranteed Additions (if any), Accrued Paid Up Additions (if any) and Terminal Bonus (if any) is payable.
In case of death of Life Insured after 10 policy years, 110% of Guaranteed Death Benefit along with Accrued Guaranteed Additions , Accrued Paid Up Additions (if any) and Terminal Bonus (if any) is payable.
Enjoy 110% of Guaranteed Sum Assured along with Accrued Guaranteed Additions , Accrued Paid Up Additions (if any) and Terminal Bonus (if any).
Settlement and Commutation Benefit
You or your nominee, have the flexibility to convert the Lump Sum Maturity Benefit / Death Benefit into regular income (Monthly / Yearly) for 10 years.
You may be entitled to certain applicable tax benefits under section 80(C) and 10(10-D) of Income Tax Act 1961 on the premiums paid and benefits received.