Max Life Smart Fixed-Return Digital Plan

With Max Life Smart Fixed-Return Digital Plan, one needs not to worry about savings and investment in today’s fluctuating market. The plan comes with the following set of features and benefits for the policyholders:

• Build Savings: The foundation of a secure financial future is saving. With the Max Life Smart Fixed-Return Digital Plan, the policyholders can make sure that they are accumulating savings to cover their future financial needs. They only need to make the plan-determined recurring or lump-sum premium payment in order to receive returns that will satisfy their saving needs.

• Maturity Benefit: Once the policyholder has survived the policy tenure, a guaranteed corpus is given as a maturity benefit. The following elements together make up the maturity benefit.

• • Guaranteed Sum Assured on Maturity

• • Accrued Guaranteed Additions only applicable to the Titanium version

• • Additional Maturity Benefit for paying higher premiums

• • Additional Maturity Benefit for female customers

• Death Benefit: The plan also offers a death benefit, which is payable as a lump sum in case the life insured passes away during the policy tenure, provided the policy is in force.

• Tax Benefits: Both premium payments and maturity benefits under the plan are subject to tax benefits. A tax deduction of up to INR 1,50,000 is available to policyholders under Section 80C of the Income Tax Act. In accordance with Section 10(10D), the maturity benefit is also tax-free for all variations except for Gold.

• Special Benefits For Female Customers: Max Life has created additional perks for women in an effort to get them to purchase insurance and savings products. This involves giving female clients more maturity benefits than male clients of the same age. For a policy term of five years, the additional maturity benefit is 0.25 percent, and for a term of ten years, it is 0.5% percent.

• Optional Riders: The plan’s coverage can easily be enhanced by paying an extra premium amount for the following rider options:

• • Max Life Waiver of Premium Plus Rider

• • Max Life Accidental Death and Dismemberment Rider

• • Max Life Term Plus Rider

• • Max Life Critical Illness and Disability Rider

• Free Look Period: The policyholder has 15 days from the time they receive their insurance to review the terms and conditions. If he or she disagrees with any of those terms and conditions, they might choose to return the policy with a statement of objections. This period is extended to 30 days for policies purchased through distance marketing and electronic devices.

• Waiting Period: There is a 90-day waiting period beginning on the day the risk under the policy began. In the event of death (for causes other than accidental death only) within this waiting time, 100% of the total premiums paid up until the date of death, less any relevant taxes, cesses, and levies, if any, shall be payable.

• Grace Period: The plan also offers a 30-day grace period for annual, semi-annual, and quarterly modes, and 15 days grace period for monthly premium payment mode.