by Suman Gupta
New Delhi, September 7th, 2022: Max Life Insurance Company Ltd. (“Max Life”/ “Company”), announced the launch of ‘Smart Flexi Protect Solution’#, a three-in-one offering that provides health and enhanced life cover, along with market-linked investment returns.
A combination of Max Life Flexi Wealth Plus (UIN:104L115V02), and Max Life Critical Illness and Disability Secure Rider (UIN:104A034V01), this unique proposition of wealth creation along with comprehensive protection against death, disability and critical illness.
Prashant Tripathy, MD & CEO, Max Life said, “Max Life’s Smart Flexi Protect Solution is designed as a go-to choice for earning individuals, especially for self-employed profiles. The solution is also a hallmark of Max Life’s product innovation strength, driven fundamentally by consumer behavior and constantly endeavors to deliver tailored, flexible product offerings keeping speed and simplicity principles in mind.”
Key highlights of Max Life’s Smart Flexi Protect Solution:
- Enhanced Death Benefit: Max Life’s Smart Flexi Protect Solution has enhanced death benefit, offering the nominees an extra layer of financial protection in the event of the unfortunate demise of the insured.
- Health Cover: With Max Life’s Critical Illness and Disability Secure Rider, one gets financial protection against 64 critical illnesses and total permanent disability.
- Investment Benefit: The solution can help policyholders meet investment objectives through market-linked returns.
- Frictionless Onboarding~: The solution is differentiated by its simplified onboarding experience and easy issuance with video medical examination and relaxed financial documentation.
- Tax Benefits ##: Tax benefits may be available as per the prevailing tax laws.
The ‘Smart Flexi Protect Solution’ is a combination of:
- Max Life Flexi Wealth Plus: Flexi Wealth Plus will help create financial protection with enhanced life cover plus savings with market-linked returns. This plan offers five different investment strategies and 11 funds along with return of mortality charges at maturity.
- Max Life Critical Illness and Disability Secure Rider: The Critical Illness and Disability Secure Rider acts as a financial net, offering a specific coverage amount to financially secure one against 64 critical illnesses and total permanent disability.
About Max Life Insurance (www.maxlifeinsurance.com) : 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. As of 31st March 2022, the Company had INR 1,07,510 crore of assets under management (AUM) and a Sum Assured in Force of INR 1,174,515 crore.
For more information, please visit the Company’s website at www.maxlifeinsurance.com
This solution is available for purchase by all consumers
Max Life Critical Illness and Disability Secure Rider | A plan designed to provide additional protection against an unfortunate diagnosis of the listed Critical Illnesses. There is a waiting period of 90 days for major CI conditions / TPD and 180 days for minor CI conditions from the date of policy issuance or date of revival, whichever is later.
On adverse medical disclosures or underwriting findings, physical medical examination or financial documentation might be called.
You may be entitled to certain applicable tax benefits on your premiums and policy benefits. Please note all the tax benefits are subject to tax laws prevailing at the time of payment of premium or receipt of benefits by you. Tax benefits are subject to changes in tax laws.
Total Installment Premium is the Premium payable as per premium paying frequency chosen, it excludes GST and applicable taxes, cesses or levies, if any; and includes loadings for modal premiums, Underwriting Extra Premium and Rider Premiums if any.
The premium shall be adjusted on the due date even if it has been received in advance.
Annualised Premium means premium amount payable in a Policy Year, excluding any Rider Premiums, underwriting extra Premiums on riders and applicable taxes, cesses or levies, if any.
Unit Linked Insurance Products (ULIPs) are different from the traditional products and are subject to the risk factor. The premiums 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 decision. Max Life Insurance is only the name of the life insurance company Max Life Flexi Wealth Plus Plan (A Unit-linked, Non-participating Individual Life Insurance Plan | UIN: 104L115V02) is only the name of the unit linked life insurance contract and does not in any way indicate the quality of the contract, its future prospects or returns. Please know the associated risks and the applicable charges from your Insurance agent or the Intermediary or policy document issued by the insurance company. 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 or returns
Unit Linked Insurance Products do not offer any liquidity during the first five years of the contract. The Policyholder will not be able to withdraw the money invested in Linked Insurance Products completely or partially till the end of the fifth policy year.
LIFE INSURANCE COVERAGE IS AVAILABLE IN THIS PRODUCT. APPLICABLE TAXES, CESSES, AND LEVIES AS IMPOSED BY THE GOVERNMENT FROM TIME TO TIME WILL BE DEDUCTED FROM THE PREMIUMS RECEIVED.
