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Investment Plans 2138 views April 9, 2020
Table of Contents
About Max Life Whole Life Super Plan
Max Life Whole Life Super Insurance Plan is the only life insurance with coverage until 100 years of age. Policyholders under this plan have the flexibility to withdraw money to meet required financial commitments and emergencies. In addition, this policy also provides a guaranteed payout along with death benefit and company bonuses at maturity.
The Coverage Provided by Max Life Whole Life Super Plan
The coverage benefits provided are the following:
- Maturity Benefit
- Death Benefit
- Terminal Illness Benefit
- Bonus Payout Options
Additional Coverage under Max Life Whole Life Super Plan
Max Life Term Plus Rider – It enhances the protection against unforeseen accidents leading to death.
Max Life Accidental Death and Dismemberment Rider – In the case of permanent dismemberment or death due to an accident, this rider will financially support your family members.
Max Life Waiver of Premium Plus (WOP) Rider – With this rider, all future premiums will be waived in cases of critical illnesses and permanent dismemberment and death.
Features of Max Life Whole Life Super Plan
- Max Life provides an Annual Cash Bonus in three available options: Premium Offset, Pay in Cash, Purchase of PUA as selected by the insured. And in case of death, the bonus option will automatically be changed to PUA.
- The PUA withdrawal features are also provided to the policyholder wherein they can obtain PUA cash value in part or full.
- Multiple Premium Payment modes are provided like monthly, quarterly or annually etc. A Grace Period of 30 and 15 days are provided for premium payment modes apart from monthly and monthly mode respectively.
- A Free Look period of 15 days is offered to the policyholder.
- On maturity/ death/ surrender a one-time extra bonus called the Terminal Bonus is also paid. On surrendering the policy the cash value of the bonus is paid.
- Max Whole Life Super Plan comes with a revival period of 2 years initiating from the first unpaid premium due date.
- Max Whole Life Policyholders can also enjoy tax benefits as specified in the Income Tax Act of 1961 under Deductions and Exemptions, to be claimed under section 80C, 80CCC, 80D and 80DD of the Income Tax Act. Exemptions can be included under Section 10(10 D) of the Act.
Benefits of Max Life Whole Life Super Plan
Max Life Insurance makes procuring and optimizing life insurances convenient and easy. Here are some of its common benefits:
- Max Whole Life Super Plan can be purchased online through the company’s official webpage with the online payment facility. Policyholders can also download premium receipts from the webpage.
- Their round-the-clock customer care can be reached via phone, SMS, E-mail etc.
- Prompt SMS updates can be also be availed by activating the service to obtain important notifications about the policy from the company.
- Customers can compare and contrast premiums of different policies with a free premium calculator on the website.