Max Life launches ‘Smart Wealth Advantage Guarantee’ a flexible solution combining financial protection and guaranteed returns

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Bangalore, November 16, 2022: Max Life Insurance Company Ltd. (“Max Life” / “Company”), has launched its marquee Smart Wealth Advantage Guarantee Plan – a Non-Linked, Non-Participating Individual Life Insurance Savings Plan, that offers guaranteed returns, life insurance cover and financial protection all combined in one product. 

With its comprehensive benefits, the Smart Wealth Advantage Guarantee Plan is a holistic product that endeavors to ensure customers meet their life goals and remain protected in the long-run from financial uncertainties. In a unique proposition, the product offers the customer to receive the annual income on a preferred date decided by the policyholder, and not necessarily at the anniversary of the policy issuance.  

Prashant Tripathy, MD & CEO, Max Life Insurance said, “Life is ever-changing and as you grow, your and your family’s needs and aspirations also grow. Whether it is achieving milestones like buying your dream house, securing your child’s education or enabling a peaceful retirement, you need to safeguard them in today’s uncertain environment. Our Smart Wealth Advantage Guarantee Plan offers life insurance with wealth creation benefits, meant for a financially strengthened future. A marquee product from Max Life, it’s made on a very innovative design to provide a range of flexible options to the policyholder to choose from, without discounting the returns.”

Key features of the product include:

Enhanced flexibilityChoose premium payment term, deferment period and income durationWith ‘Save the Date’, receive annual income on your special date of the year e.g. birthday, marriage anniversary etc.Withdraw or accrue income at your needs
Guaranteed income Easy liquidity with income payout as early as first monthIncome returns up to 30-40 years with lump sum at maturity
Full-proof financial protection Offer of Policy Continuance Benefit – incase of death of life insured, a guaranteed death benefit is paid to the family, while the survival and maturity benefit continue without paying any future premiums. Option to protect your long term savings plan against the risk of death, disease or disability.Inbuilt ‘Additional Accidental Death Benefit’– amount equal to 50% of the sum assured is added to the policy as additional ‘Accidental Death Benefit’ as soon as premium payment term is over
Secured retirement Tax free income for lifeReturn of 50% of Total Premiums Payable at age 85 years (applicable under select variants only)Additional 100% return of premium on maturity (applicable under select variants only)

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About Max Life Insurance

Max Life Insurance Company Limited is a Joint Venture between Max Financial Services Limited and Axis Bank Limited. Max Financial Services Ltd. is a part of the Max Group. 

Max Life offers comprehensive protection and long-term savings life insurance solutions, through its multi-channel distribution including agency and third-party distribution partners. Max Life has built its operations over two decades through a need-based sales process, a customer-centric approach to engagement and service delivery and trained human capital. 

As per public disclosures and annual audited financials for FY2021-22, Max Life has achieved a gross written premium of INR 22,414 crore. 

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