Max Life Smart Wealth Plan: Advantage Details
Updated On Oct 04, 2023
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Max Life has recently increased its life insurance product portfolio by launching the "Smart Wealth Advantage Guarantee Plan." This is a guaranteed, non-linked, non-participating life insurance policy that proposes a lot of advantages to the policyholders in achieving their life goals. Whether it is a matter of achieving your dreams or your children’s education, financial help in the form of guaranteed income can be a saviour. Read on to know more about this life insurance policy.
Max Life Smart Wealth Advantage Guarantee Plan
Max Life Smart Wealth plan provides tax-saving benefits. The policy is available in five variants, from which individuals can compare and purchase the one that best meets their needs.
The first is wealth for milestones under which survival benefit is not applicable and is more suitable for people who want to accomplish their short-term financial goals.
In the Regular Wealth Plan, the policyholder receives a secondary income for a certain period to fulfill the financial goals of families and children. Moreover, the survival benefit is also applicable to this variant. The Long-Term Wealth Variant is similar to yet different from the Regular Wealth Plan. Under this Max Life Term Insurance plan, the policyholder gets regular secondary income for a longer period of time. Moreover, the booster rate is 10% higher than the Regular Wealth Plan. If you want early returns on your investment, then the Early Wealth Variant would be an ideal choice for you. The income benefit is only applicable to this plan. Lastly, the Lifelong Wealth Variant is best suited for people who want to create post-retirement income sources for themselves. The variant provides income benefits, money-back benefits, and more.
Features of Smart Wealth Advantage Guarantee Plan
The Max Life Smart Wealth Advantage Guarantee Plan is a full-fledged life savings plan that offers a lot of features and benefits to policyholders. Some of these are listed below.
- Guaranteed Income:
Under this newly launched plan, Max Life provides guaranteed returns to the policyholders regardless of how the market performs. You can live stress-free knowing that you can accomplish all your future goals with the guaranteed income.
- Financial Assistance:
In this uncertain life, you can provide certainty of a similar lifestyle to your loved ones even after your demise. The Smart Wealth Advantage Guarantee Plan by Max Life will protect your loved ones financially even when you are not around them.
- Enhanced Flexibility:
As the name implies, the newly launched plan by Max Life is full of advantages. You can choose annual payout options based on a specific date of the year or an accrual-based payout mode. In addition to this, you have the flexibility to choose the frequency of your income payouts, from monthly, quarterly, semi-annually, and annually.
- Cost-Saving Plan:
The Smart Wealth Advantage Guaranteed Plan will generate wealth while also saving you money on taxes! What’s more? Apart from the above, under this plan, the policyholder gets special discounts for being a regular customer, lower rates for women, staff discounts, and much more.
Benefits of the Smart Wealth Advantage Guarantee Plan
Listed below are some of the features of the Smart Wealth Advantage Guarantee Plan by Max Life Policy.
- Survival Benefits:
If a policyholder survives the policy term, then he or she will be eligible to get the survival benefits of the plan, which are payable through income benefits, loyalty income boosters, and money-back benefits. However, this may vary depending on the type of variant you choose.
- Maturity Benefit:
Once the policy tenure is complete, the policyholder can avail themselves of maturity benefits. However, this is only applicable in variants 1, 3, 4, and 5.
- Death Benefit:
In case, a policyholder doesn’t survive the policy period, their loved ones are secured with the Smart Wealth Advantage Guaranteed Plan. Regardless of which variant you have purchased, you will be eligible for the death benefit.
You can increase the coverage of your life insurance policy with Riders. With this policy, you can choose from different riders, including accidental death benefit riders, critical illness riders, waivers of premium, death and dismemberment riders, and more.
If you are looking for a savings-guaranteed income plan, then the Smart Wealth Advantage Guarantee Plan by Max Life is the best option for you. Besides wealth creation, the plan offers many more advantages.