Max Life Insurance
Max Life Platinum Wealth Policy

Max Life Platinum Wealth Plan

The Max Life Platinum Wealth Plan is a Unit Linked Non-Participating Individual Life Insurance Plan (ULIP), specifically designed for future-oriented customers, it aids you in better organizing your funds so that your remaining years will be the happiest of your life. The plan offers a rider option to expand the scope of the protection it provides, as well as numerous premium payment choices. The Max Life Platinum Wealth Plan has 0% policy administration fees after five policy years (other fees may apply), which is one of its main advantages.

The Max Life Platinum Wealth Plan helps you make the most of your hard-earned money with market-linked returns and additional wealth boosters while safeguarding the future of your family even after you pass away.

Continue reading to know more about the Max Life Platinum Wealth Plan’s eligibility criteria, key features and benefits, exclusions, premium calculation, and more.

Eligibility Criteria

Here are the eligibility criteria for Max Life Platinum Wealth Plan.


Minimum- 91 days


Single/Limited Pay- 60 Years

Regular Pay- 55 Years

Maturity Age

Minimum– 18 Years


Single/Limited Pay- 70 Years

Regular Pay- 65 Years

Annualized PremiumMinimum: `2,00,000 for all variants; Maximum: No limit
Premium Payment Mode

Single Pay: One-time premium payment Limited Pay (5 years) /

Regular Pay: Annual, Semi-Annual, Quarterly, or Monthly

Sum Assured MultipleSingle Pay: 1.25 times Single premium Limited Pay (5 years) / Regular Pay (10 times Annualised Premium)
Premium Bands

There are two premium bands in the product, as mentioned below:

• Band 1: Premium of less than ₹ 5 Lakhs shall constitute Band 1.

• Band 2: Premium of ₹ 5 Lakhs and above shall constitute Band 2.

Sum Assured Multiple

Single Pay: 1.25 times the Single premium

Limited Pay / Regular Pay: Higher of (10 times annualised premium or 0.5 X Policy

Term X annualised premium)

What Are The Key Features & Benefits of the Max Life Platinum Wealth Plan?

Listed below are the key features and benefits of the Max Life Platinum Wealth Plan

  1. Surrender Benefit:

If the product accrues a surrender value during the first five years, the fund value—including any top-up fund value, if any—shall be transferred to the discontinued policy fund upon receipt of notification that you wish to surrender the policy during the first five years, less any applicable discontinuance charges. Only after the lock-in time is over will the surrender value equal to the Discontinued Policy Fund Value become payable. The surrender value must at least match the fund value on the surrender date if it occurs after the lock-in period.

  1. Death Benefit

The higher of the Sum Assured (reduced by applicable partial withdrawals) or Fund Value (as of the Date of Death), subject to a minimum of 105% of all premiums paid, shall be payable upon the death of the Life Insured within the Policy Term.

  1. Systematic Transfer Plan

You can recreate a rupee cost-averaging method on your annualised premium with the use of a systematic transfer plan. Only single premium policies or policies taken out in annual mode are eligible for this option. The Secure Plus Fund will receive the initial allocation of the Single / Annual Premium, nett of any premium allocation charges. The Fund Value of [1/(13-month number in the policy year)] of the Units available at the beginning of the month will then automatically switch to the Growth Super Fund by cancelling Units in the Secure Plus Fund and purchasing Units in the Growth Super Fund until Units in the Secure Plus Fund are available, as well as on each subsequent monthly anniversary.

  1. Option to reduce premium post-lock-in

After the 5-year lock-in period is over, the policyholder has the opportunity to reduce the premium by up to 50% of the initial annualised premium, subject to the minimum premium limit.

  1. Free Look Period

After receiving the policy, you have 15 days (30 days if the policy was obtained through distance marketing channels) to review the terms and conditions. If you don’t agree with any of them, you have the option of returning the policy and explaining your objections.

  1. Maturity benefit

The maturity amount will have a fund value that is the sum of the accumulated units in all the funds times the NAV of the respective funds as of the maturity date, assuming a settlement option has not been exercised.

  1. Withdrawal Facility

This is accessible after the fifth year of the policy through a maximum of two partial withdrawals totalling at least Rs. 5000. The withdrawn amount will be replaced by the cancellation of funds.

What is Not Included Under Max Life Platinum Wealth Plan?

Any risks under the policy will end simultaneously, and the policy will be terminated if the Life Insured, whether sane or insane, commits suicide within twelve (12) months of the date the policy began (the effective date of risk commencement) or the date of any revival of this policy. In this situation, the company shall only pay the beneficiary the Fund Value as of the date of the death notification. Additionally, any charges other than Fund Management Charges (FMC) and guarantee charges that are recovered after the date of death must be added back to the fund value as it stood on the day the death was notified.

What are the Riders Available Under Max Life Platinum Wealth Plan?

There’s only 1 rider available under Max Life Platinum Wealth Plan.

Max Life Partner Care Rider (UIN:104A023V02)

If the life insured passes away before reaching the age of 60, the total of all future premiums due under the basic policy will be paid, and the rider will no longer be in effect.

The unpaid premium will also be included in the death benefit if the base insurance is still in its grace period.

This rider is only offered with the product’s Limited Pay and Regular Pay varieties. During the Policy Term, you have the option to choose this rider at any time, subject to underwriting and rider limits. If the rider is added to the base policy at a later date, its term will be equal to the base policy’s remaining premium payment term. The period of this rider shall be equivalent to the premium payment term of the base plan selected at the base policy’s inception.

However, if the term for base plan premium payments exceeds the rider’s maximum maturity age of 60 years, the rider’s term will be sixty (60) years less the insured life’s age at entry, with a minimum rider term of five years.

Here are the key specifications of this rider.

Minimum Entry Age21 years
Maximum Entry Age55 years
Rider Expiry Age60 years
Minimum Rider Term:5 years

Illustration Of Max Life Platinum Wealth Plan

Mr. Raj Shekhar is a serviceman by profession and a 30-year-old engineer looking to gain wealth and enjoy your post-retirement years the way you like. After getting many suggestions from friends and searching on the internet, Mr. Shekhar stumbled upon this Max Life Platinum Wealth Plan and found it the best way to grow his wealth.









Fund Value

at Maturity

(@ 4%* assumed rate of


Fund Value

at Maturity

(@ 8%* assumed rate of


30 YearsRs. 3,50,00020 Years20 YearsRs. 95,25,922Rs. 1,49,12,122

How To Buy Max Life Platinum Wealth Plan?

Here are the steps to buy Max Life Platinum Wealth Plan.

Step 1: Firstly, you will need to visit the official website of Max Life Insurance.

Step 2: After that, you will need to hover over “Investment Plans” at the top. Then, click on the ULIP plan. Scroll down and you will find “Max Life Platinum Wealth Plan”. Click on it.

Step 3: Then, a plan page will open. Just scroll down a bit and you will find the “Invest Now” option in the orange-colored banner below. Click on it. Then, you will see a page wherein you will need to enter basic details like your Full Name, Date of Birth, Mobile Number, Gender, and Annual Income, and then click on “View Plans”.

Step 4: Afterwards, a pop-up box allowing you to select either an investment plan or a savings plan based on your needs will appear.

Step 5: Following that, you will see the full amount that you will receive when the policy matures.

Step 6: After that, you must select “Check Eligibility”. You must next provide your name, email address, education level, and occupation type before clicking “Proceed” to purchase the plan.

Step 7: Then, you will have to use your credit or debit card to make the payment. The insurance policy will be emailed to your registered email address or mobile number once you have purchased it online.

Frequently Asked Questions

A maximum of two Partial Withdrawals are permitted after the first five policy years and are cost-free.

No, there is no loan facility or top-up option under this plan.

Yes, by cancelling units, a rider charge will be applied to the monthly rider sum at risk.