Max Life Insurance Launches: The ‘Smart Wealth Advantage Guarantee Plan’ was introduced by Max Life Insurance on Wednesday. This individual life insurance savings plan, which is non-linked and non-participating, provides assured returns, life insurance coverage, and tax advantages. The user can select the date of guaranteed income payouts on memorable days like birthdays or wedding anniversaries under the plan.
A non-linked participating individual life insurance savings plan called the Smart Wealth Advantage Growth Par Plan (UIN – 104N135V01) has been introduced by Max Life Insurance Company Ltd. The plan gives complete financial security for the family for significant life milestones. Such as retirement, by fusing the power of “Protection, Liquidity, and Flexibility” into a straightforward solution. The Smart Wealth Advantage Growth Par Plan’s six major advantages let customers to achieve their retirement goals while providing all-encompassing safety for both themselves and their loved ones.
Max Life Insurance Launches
“Customer obsession is in Max Life’s DNA, and developing flexible products that respond to changing consumer needs is our core competency. Stated Prashant Tripathy, Managing Director & CEO of Max Life. We were aware of the growing demand for a carefully thought-out income plan that emphasised the importance of a consistent supplemental income for long-term financial stability.
Our main goal with the Smart Wealth Advantage Growth Par strategy is to provide a thorough savings strategy that offers long-term income guarantee throughout the years when one needs it the most. A lifelong guarantee of happiness is provided by the comprehensive life insurance savings plan known as Max Life Smart Wealth Advantage Growth Par. This insurance policy combines protection, liquidity, and flexibility into one straightforward solution that enables you to provide for your family and lead a smart life.
Max Life Insurance Launches Overview
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Non-Linked Participating Individual Life Insurance Savings Plan
These kinds of programmes combine savings with the advantages of life insurance. Additionally, they provide a death benefit that guarantees the financial security of the beneficiaries in the event of the policyholder’s passing. It means they are not connected to investments in or returns from the market. Participating indicates that customers have the chance to benefit from bonuses that the insurance industry receives.
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Smart Wealth Advantage Growth Par Plan
According to Max Life Insurance Company. The benefits of the plan include increased liquidity, guaranteed income, cash bonuses, planning for retirement income, flexibility in terms of income possibilities, and improved protection benefits. Funds from the first policy year are accessible through the liquidity option. The cash bonus feature enables the policyholder to receive a portion of the annualised premium as a cash bonus if it is declared. Retirement income offers additional income with a minimum guarantee during the retired years. That is, after age 65, helping with retirement planning.
With built-in guarantees, cash bonuses (if declared), and life coverage for the duration of the policy term. The plan is available in four variations. Instant Income, Balanced Income, Future Income, and Lifelong Income. Additionally. The plan offers flexibility in premium payment and policy terms to meet different needs and preferences. Policyholders can choose from a variety of premium payment plans and life insurance with terms ranging from 20 to 40 years and a maximum age of 100.
Optional riders, policy continuation benefits (PCB), and supplemental accidental benefit coverage are other ways that policyholders might increase their protection. The plan also gives participants a variety of ways to receive payments. Including the ability to choose specific dates for survival benefits. Accumulate benefits for later use, or use payouts to offset premium obligations.
“We recognised the emerging need for a well-designed income plan emphasising the value of a regular additional income for long-term financial stability. said Prashant Tripathy, managing director and CEO of Max Life Insurance, in a statement. Our main goal with the Smart Wealth Advantage Growth Par strategy is to provide a thorough savings strategy that offers long-term income guarantee throughout the years when one needs it the most. The plan also highlights financial diversity by providing transgender consumers with unique discounts and providing additional advantages for women’s maturity. According to a press statement from the insurance.
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Max Life Insurance has recently launched a new and innovative conclusion to its range of insurance products. This exciting new offering provides customers with comprehensive coverage and a hassle-free experience. With Max Life Insurance’s conclusion, policyholders can now enjoy the peace of mind that comes with knowing their loved ones will be taken care of in the event of an unfortunate incident. The conclusion offers flexible premium payment options, attractive returns, and a wide range of additional benefits. It is designed to meet the evolving needs of customers and provide them with financial security and protection. Max Life Insurance’s commitment to customer satisfaction and its focus on delivering superior value make this conclusion a game-changer in the insurance industry.
Max Life Insurance Launches FAQ’S
When did Max Life Insurance launch in India?
It was founded in 2000 after the liberalization of the insurance sector in India and its operations began in 2001.
What is the new product of Maxlife?
The Max Life Smart Wealth Advantage Guarantee Plan provides a guarantee of returns, ensuring that you and your family can live with financial certainty. To avail of this plan, the policyholder needs to pay a premium for a specific term. Once this term is completed, they will receive either a lump-sum amount or regular income, depending on the variant chosen.
Who acquired Max Life Insurance company?
Axis Bank, along with its subsidiaries on Wednesday announced to acquire the remaining 7 percent stake in Max Life Insurance. The bank said, in an exchange filing, that Acquisitions, Divestments and Merger Committee has approved infusion of Rs 1,612 crore in Max Life through preferential allotment.
What is Max Life launched smart capital guarantee solution?
Smart Capital Guarantee Solution combines a guaranteed saving plan - Max Life Smart Wealth Plan(a Non-Linked, Non-Participating, Individual, Life Insurance Savings plan) and a ULIP, - Max Life Flexi Wealth Advantage Plan (Unit Linked Non-Participating Individual Plan), to provide customers with an investment.