Max Life launches life insurance plan, Smart Wealth Advantage Guarantee

With its comprehensive benefits, Smart Wealth Advantage Guarantee Plan is a holistic product that strives to ensure that customers meet their life goals and are protected against financial uncertainties for a long time. The product offering also provides receipt of annual income on the preferred. A date decided by the policyholder, and not necessarily on the anniversary of the policy issue.

Prashant Tripathi, Managing Director & CEO, Max Life Insurance said, “Life is always changing and as you grow, so do your and your family’s needs and aspirations. Whether it is buying your dream home, securing your child’s education or achieving a peaceful retirement, you need to protect them in today’s uncertain environment. Our Smart Wealth Advantage Guaranteed Plan offers life insurance with wealth creation benefits, for a financially sound future. A flagship product of Max Life, it is built on a very innovative design to offer a range of flexible options to the policyholder to choose from without giving up on returns.”

The main features of the product are:

Enhanced Flexibility: You can choose the premium paying term, deferment term and income term. Second, with ‘Save the Date’, get annual income on your special date of the year like birthday, marriage anniversary etc. Third, you can withdraw or earn income on your needs.

Guaranteed Income: You can get easy cash with income payment as early as the first month. Second, get income returns of up to 30-40 years with a lump sum amount on maturity.

Full-Proof Financial Protection: Offering Policy Continuity Benefit – In case of death of the life assured, a guaranteed death benefit is paid to the family, while the survival and maturity benefits continue without paying any future premiums. Option to hedge your long term savings plan against the risk of death, illness or disability. Second, get the inbuilt ‘Additional Accidental Death Benefit’ – An amount equal to 50% of the Sum Assured is added to the policy as an additional ‘Accidental Death Benefit’ at the end of the premium paying term.

Secure Retirement: Get tax free income for life. May be eligible for tax benefits as per prevailing tax laws. GST applicable on premium as per prevailing tax laws. Receive 50% return of total premiums payable at the age of 85 years (Applicable only under select variants). Lastly, get an additional 100% return of premium on maturity (applicable only under select variants).