It is the lower of the following: Rs.6,000. The following table lists these values: Additional benefits paid annually in the form of units starting from 11th policy year. Make up for the past and fast track your financial goals. *30 days, if the policy has been bought via direct marketing channels. The loyalty additions are paid in case of Regular Pay variants. It aids policyholders in achieving their goals through various fund options and investment strategies. If you choose the Regular Pay option for premium payment, 0.30% of Fund Value shall be added to your fund by the creation of additional units, at the end of every policy year starting from 11th policy year. This investment strategy can be selected by policyholders at the time of purchase only. Unit Linked Insurance Products (ULIPs) are different from the traditional insurance products and are subject to the risk factors. The premium paid in the Unit Linked Life Insurance Policies is subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions. **Single Pay, 5 Pay, Regular Pay - are the three Premium Payment Term (the period for which you will invest in this policy) options available under this policy. IN THIS POLICY, THE INVESTMENT RISK IN THE INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER. You can use any of these two investment strategies: An investment strategy that helps you regularly transfer a fixed or variable part of your invested amount into other funds. I think Max Life ULIPs are the best way to save and grow your money. You receive tax benefits on your premiums based on the prevailing government norms. It offers the following benefits: The plan allows policyholders to invest in the following 5 Funds: Max Life Fast Track Super Plan offers two investment strategies to policyholders. Rs.2,50,000 for Regular Pay variant. 172@29@16@55!~!172@29@0@53!~!|insurance|ulip|max-life-insurance-MA|max-life-insurance-fast-track-balanced-fund-IMA107.html!~!www|moneycontrol|com!~!|insurance|ulip|snapshot.php!~!is_mobile=false, 1+1=11.Multiply your wealth now with multibaggers from, Snapshot - Max Life Insurance - Fast Track - Balanced Fund. 5Criteria applicable only for “Term plans” for Graduate, Indian resident with declared income >= 10 lacs with CIBIL score >= 650 (salaried) and >= 700 (self-employed) with no disclosed medical condition. A. The total premium will be 3,20,640 (in case of regular pay) and 1,79,520 (in case of 10 pay) excluding taxes. However, we always used to have huge cash surplus which wasn’t being utilized properly. This Life Insurance product is offered and underwritten by Max Life Insurance Co. Ltd. Within 2 years from date of discontinuance. 2% of Fund Value. Suicide Exclusion – If the Life Insured dies by suicide within a period of 12 months from the policy start or revival date, then his/her policy will terminate and his/her nominee or beneficiary will receive only the Fund Value on the date of demise. The content on this website is meant only for general information purpose and does not and shall not be construed as any solicitation, procurement, display, aggregation, marketing or advertisement of insurance products. The assets under management will be held in a pre-decided proportion amongst Secure Fund and Growth Super Fund and it will change depending on the maturity years. 4% of Annualised Premium. Max Life Insurance India Insurance ULIP Plans Further, within the premium payment term, you can choose to pay on Annual, Semi-annual, Quarterly, and Monthly basis. The information, data, analyses and opinions (“Information”) contained herein: (1) include the proprietary information of Morningstar and its content providers; (2) may not be copied or redistributed except as specifically authorised; (3) do not constitute investment advice; (4) are provided solely for informational purposes; (5) are not warranted to be complete, accurate or timely; and (6) may be drawn from fund data published on various dates. Dear Mohsin, You have better options available. Visitor's information submitted on the website may be shared with the Insurers. All rights reserved. *During this period, risk cover will not be provided and policyholders have to pay only the Fund Management Charge. No, Max Life Fast Track Super Plan does not provide loan facility, Top Up Option and Riders. An open ended hybrid fund investing predominantly in debt instruments, Conservative Fund invests primarily in debt instruments such as Government Securities, Corporate Bonds, Money Market Instruments etc. Thereafter – A maximum of 2 Partial Withdrawals per policy year. Out of the 15 life insurance products offered by the company, Max Life Fast Track Super Plan is the most popular because it does not only provide life coverage, but also helps people in managing their finances. A. Return of premium option is available on payment of additional premium. Max Life Fast Track Super ( UNI- 104L082V02) is a Non –Participating Unit Linked Insurance Plan. *If date of maturity is not a working day for the company, then NAV of the next working day will be applicable. (This Fund is available only under Systematic Transfer Plan (STP), Lifecycle Based Portfolio and Trigger Based Portfolio strategy) .The investment objective of the Fund is to provide higher security of investment by way of higher proportion of investment in sovereign papers that carry an implicit guarantee for repayment of principal and interest from the Government of India. A maximum of 6 Premium Redirections are allowed in a policy year for free. *Premiums vary based on age, location, plan term and other factors. Keeping money in a savings account seems to be the simplest and safest option, but this approach can restrain us from getting a good return. It is an individual policy that helps policyholders in planning their present finances in a way that ensures a financially secure future. These are not guaranteed and they are not the upper or lower limits of returns of the Funds selected in your policy, as the performance of the Funds is dependent on a number of factors including future investment performance. A. Designed especially for traders looking to tap the profit opportunities of volatile markets. Minimum Switch amount is Rs.5,000. 1% of Single Pay Premium. At least 70% of the Fund corpus is invested in equities at all times. Max Life Fast Track Super Plan has many other benefits to offer other than the ones mentioned above. ... Max Life Super Term Plan- 104N086V02; Max Life Super Term Plan- 104N086V03; Max Life Online Term Plan Plus -104N092V01; Max Life Online Term Plan Plus- 104N092V02; Max Life Online Term Plan Plus-104N092V03; Max Life Smart Term Plan-104N113V01. This fund invests primarily in debt instruments such as Government Securities, Corporate Bonds, Money Market Instruments etc. Max Life Fast Track Super Plan policy has many other important features. The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these funds, their future prospects and returns. For all investors looking to unearth stocks that are poised to move. The company will also make periodic payments. Rs.1,25,000 for Single Pay variant. Policy Administration Charge for Max Life Fast Track Super Plan is charged on every monthly anniversary for all variants. Maximum Maturity Age (Age as on last birthday). The company does not charge anything for using the Switch option. Always do SIP. Balanced Fund (SFIN: ULIF00225/06/ 04LIFEBALANC104) 20% to 40%: 20% to 50%: A. and 8% p.a.) 50.29 INR. 15 days. Calculate returns in your Max Life Fast Track Super Plan. SBI Magnum Balanced 3. firstname.lastname@example.orgSMS 'LIFE' to 5616188. An open ended hybrid fund investing in a mixture of debt instruments and equities. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express writtern permission of moneycontrol.com is prohibited. Investments across corporate bonds, equities, government securities and money market instruments. The Fixed Sum Assured Multiple for 5 Pay variant and Regular Pay variant is 10 times of the Annualised Premium and for Single Pay variant, it is 1.25 times of the Single Premium. Past performance of the funds does not indicate the future performance of the funds. The policyholder and the Life Insured does not have to be the same person. Customers can get in touch with the customer service team by contacting the helpline number, by email, letter or SMS. Valid ID and address proof of the Nominee(s) or claimant. Max Life Insurance Co. Ltd. is a Joint Venture between Max Financial Services Ltd. and Mitsui Sumitomo Insurance Co. Ltd. Consider the below balanced funds instead: 1. (Source : Max Life Public disclosure, FY19-20), (Source : Max Life Public disclosure, FY19-20). Let’s look at some examples - Below mentioned premium rates and benefits are assumed for a Standard Life, Male, *Annualised Premium includes extra premium (if any) but excludes all applicable taxes, cesses and levies as imposed by the Government as well as any loadings for modal premiums and remains same irrespective of the premium payment mode. If you want to make a claim on your Max Life Fast Track Super Plan, you have to submit the following to Max Life Insurance: The claim documents can be downloaded from the website of Max Life Insurance. The Fund invests up to 15% of Fund corpus in equities, An open ended debt fund which invests across duration with bias towards government securities. Max Life Smart Term Plan (UIN: 104N113V03), Max Life Smart Term Plan is a non-linked non-participating individual pure risk premium life insurance plan; upon policyholder's selection of Premium Back variant, this product shall be non-linked non-participating individual life insurance savings plan, Max Life Online Term Plan Plus (UIN 104N092V01 / UIN 104N092V02 / UIN 104N092V03/ UIN 104N092V04) Returns are 5 year compounded annualised growth rate (CAGR). Premium Allocation Charge for Max Life Fast Track Super Plan is displayed below: Mortality Charge is a fee that is imposed by the company for offering risk cover during the policy term to the Life Insured. Helpline: 1860 120 5577 (9:00 A.M to 6:00 P.M Monday to Saturday) * Call charges apply. Systematic Transfer Plan – The Annualised Premium or Single Premium is allocated to a secure plus fund and on the monthly anniversary the Fund Value Units will be switched to Growth Super Fund automatically. The monthly Income Benefit and Terminal Benefit may be taxable subject to extra premium being loaded at underwriting stage. A maximum of 12 switches are allowed in a policy year. The linked insurance products do not offer any liquidity during the first five years of the contract the policyholder will not be able to surrender/withdraw the monies invested in linked insurance products completely or partially till the end of fifth year. issued primarily by Government of India/State Governments and to some extent in Corporate Bonds and Money Market Instruments. Star rating is Overall Rating. No, policyholders are not allowed to use partial withdrawal and switch options during the settlement period. The guaranteed and non-guaranteed benefits are applicable only if all due premiums .The Maturity Benefit shown in the illustrative example are inclusive/exclusive of taxes.