Max Life Insurance has introduced the launch of Max Life Flexi Wealth Advantage Plan, a unit linked non-participating particular person life insurance coverage plan. The distinctive function of the plan is that it ensures a return of coverage expenses, loyalty additions and even has options so as to add or increase models into the fund choices. Furthermore, one can customise the plan with limitless switches and premium redirection freed from value alongside totally different levels of the expansion journey.
Key options of Max Life Flexi Wealth Advantage Plan
1.Return of expenses: Policyholder is eligible for a refund of all or some a part of the coverage expenses deducted which are added again to the fund worth.
2.Guaranteed Loyalty Additions to spice up fund worth: one can get pleasure from assured loyalty additions to additional improve fund worth from the eighth 12 months onwards as per the variant chosen.
3.Auto Debit Booster is on the market to encourage policyholders to undertake digital cost choices with enhanced profit in case of renewal premium cost by way of automated and digital debits (eNACH, standing instruction and many others.).
4.Flexible plan choices from 2 plan variants (wealth/complete life) and a number of premium cost phrases and coverage time period choices to go well with the funding horizon for the precise want. One can additional select from 5 good funding methods and 11 funds to go well with particular person funding model.
5.Option of complete life cowl and wealth acceleration -in the entire life plan variant beginning with 5 years of premium cost time period, provides the life insured monetary safety for the entire of life and lets private wealth develop until 100 years of age.
6.Option to decide on Sum Assured Cover Multiple of 1.25, 7, 10, and 15 instances the premium relying upon the selection of the premium cost time period and wish of the policyholders.
7.Smart Withdrawals choice to avail common systematic cash withdrawals per one’s want. The complete life variant lets one get pleasure from a secondary revenue stream by withdrawing cash often from the coverage by way of systematic and automatic partial withdrawals. The policyholder might select this feature of ‘smart withdrawals’ at inception or anytime throughout the coverage time period.
8.Unlimited free switches and premium redirections, the place foundation change in threat profile, one can avail limitless switches and premium redirections to different funding funds, completely freed from value.
9.Tax benefits could also be relevant on premiums paid and advantages acquired as per prevailing tax legal guidelines.
10. Optional Waiver of Premium Benefit that ensures that in case of unlucky demise of the Policyholder, the life insured continues to get the coverage advantages as deliberate, with out worrying to pay the long run premiums. This choice is particularly suited to these desirous to safe their baby’s future by way of disciplined systematic financial savings.
Source: www.financialexpress.com”