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Home / Insurance / News /  Max Life Insurance launches Flexi Wealth Advantage Plan. Key features to know
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Max Life Insurance Company Ltd. has announced the launch of Max Life Flexi Wealth Advantage Plan, a unit-linked non-participating individual life insurance plan.

“The unique offering will guarantee a return of eligible policy charges, loyalty additions, power-packed boosters, and a wide choice of variants that ensures meeting policyholders’ diverse needs. Furthermore, the customer can customize the plan with unlimited switches and premium redirection free of cost along different stages of the growth journey," according to the Max Life press release.

Key features of  the plan:

Return of charges where the policyholder is eligible for a refund of all or some part of the policy charges deducted that are added back to the fund value.

Guaranteed loyalty additions to boost fund value: one can enjoy guaranteed loyalty additions to further enhance fund value from the eighth year onwards as per the variant chosen.

Auto debit booster is available to encourage customers to adopt digital payment options with enhanced benefits in case of renewal premium payment through automatic and electronic debits (eNACH, standing instruction etc.)

Two plan variants (wealth/whole life) and multiple premium payment terms and policy term options to suit the investment horizon for the specific need. One can further choose from 5 smart investment strategies and 11 funds to suit individual investment style.

Option of whole life cover and wealth acceleration -in the whole life plan variant starting with 5 years of premium payment term, offers the life insured financial protection for the whole of life and lets personal wealth grow till 100 years of age.

Option to choose Sum Assured Cover Multiple of 1.25, 7, 10, and 15 times the premium depending upon the choice of the premium payment term and need of the customer, as per the press release.

Smart withdrawals option to avail regular systematic money withdrawals per one’s need. The whole life variant lets one enjoy a secondary income stream by withdrawing money regularly from the policy through systematic and automated partial withdrawals. The policyholder may choose this option of ‘smart withdrawals’ at inception or anytime during the policy term.

Unlimited free switches and premium redirections, where basis change in risk profile, one can avail unlimited switches and premium redirections to other investment funds, absolutely free of cost.

Tax advantages may be applicable on premiums paid and benefits received as per prevailing tax laws.

Optional waiver of premium benefit that ensures that in case of unfortunate demise of the policyholder, the life insured continues to get the policy benefits as planned, without worrying to pay the future premiums. This option is especially suited for customers wanting to secure their child’s future through disciplined systematic savings, as per the press release.

V Viswanand, deputy managing director, Max Life said, “Max Life Flexi Wealth Advantage Plan is the perfect combination of life coverage and wealth creation for today’s customers, who demand personalization in financial planning. The plan comes with many innovative features and benefits designed to keep our customers at the centre. With options like whole life design, unlimited switches, and premium redirection at no cost, the customers can build their long-term wealth portfolio fulfilling their life goals."

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