New Delhi: Max Life Insurance Company Limited has launched Smart Capital Guarantee Solution, a life insurance product solution that combines three benefits. Combining the benefits of ‘Max Life Smart Wealth Plan’ and ‘Max Life Flexi Wealth Advantage Plan’, this product offers additional financial security through guaranteed premiums paid on maturity as well as market linked returns, the company said. Will offer wealth creation from
“As per the latest India Protection Quotient survey, over 46% of consumers prefer financial products as a mix of guarantee and market linked instruments. While consumers want to take advantage of market-linked products, there is a hidden need to ensure additional financial security as well as safety of the invested capital. With this insight, we have created the Smart Capital Guarantee Solution,” said V Vishwanand, Deputy Managing Director, Max Life.
Key Features of Max Life Smart Capital Guarantee Solution:
1. Capital Guarantee through Maturity Benefit of Max Life Smart Wealth Plan; Market linked returns through a portion of premium paid for Max Life Flexi Wealth Advantage Plan
2. Unique and customized storyboards designed to meet various financial needs in the form of lump sum benefits, regular income, or whole life income benefits
3. Flexibility to choose from various premium term payment options
4. Comprehensive protection with death benefit
5. Tax Benefit under Section 80C and Section 10(10D) of Income Tax Act 1961*
The product provides an integrated, seamless onboarding journey to customers in the pre-issuance, issuance and post-issuance stages. With a single offer form and a combined example, customers can have a single view of cash flow, among other benefits. A unified issue and unique identifier allows simplified premium payment.
Combining the benefits of market linked returns with guaranteed returns, Smart Capital Guarantee Solution includes the following products:
Max Life Smart Wealth Plan (a non-linked, non-participating, individual, life insurance savings plan) – a comprehensive life insurance savings product with guaranteed returns, the plan integrates protection and savings into a simple and flexible solution. Allowing for more flexibility, the plan offers a choice of five different types – three in lump sum and one in regular and whole life income. All the five variants come with different life benefits depending on the variant chosen and offer wider life cover depending on their design.
Max Life Flexi Wealth Advantage Plan (a unit-linked, non-participating, individual life insurance plan) – a plan designed to maximize wealth creation needs while protecting loved ones financially. The plan guarantees return of eligible policy charges, loyalty additions and power-packed boosters. In addition, the plan allows for more customization with unlimited switches and free premium redirects along different stages of the development journey.