Max Life Smart Wealth Advantage Guarantee – Early wealth variant
With the Early wealth variant of Max Life Smart Wealth Advantage Guarantee (UIN: 104N124V04) we bring to you the SWAG of income as early as the 1st year.
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How does the Life Long wealth variant work?
| Parameters | Scenario 1 | Scenario 2 | Scenario 3 | Scenario 4 |
|---|---|---|---|---|
| Age of Life Assured in years | 35 | 35 | 35 | 35 |
| Premium payment term/policy term | 10/30 | 10/40 | 12/30 | 12/40 |
| Annualised Premium | 2,00,000 | 2,00,000 | 2,00,000 | 2,00,000 |
| Income start year | 1st | 1st | 1st | 1st |
| Annual income starting 1st year1 | 40,000 | 40,000 | 40,000 | 40,000 |
| Income as percentage of annualized premium | 20% | 20% | 20% | 20% |
| Income years | 30 | 40 | 30 | 40 |
| Total Guaranteed income | 12,00,000 | 16,00,000 | 12,00,000 | 16,00,000 |
| Total Maturity benefits2 | 46,85,261 | 83,34,929 | 57,79,446 | 1,03,84,862 |
| Customer internal rate of return | 5.29% | 5.61% | 5.30% | 5.62% |
| Give-get ratio | 2.95X | 4.97X | 2.92X | 5.00X |
Note:
Life Insured is a male.
1Income will be paid till the end of policy term2Maturity benefit = Accrued guaranteed additions plus sum assured on maturity
Annualised premium means the premium amount payable in a year chosen by the policyholder excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any.
Sum assured on Maturity means the amount which is guaranteed to become payable on maturity of the policy, in accordance with the terms and conditions of the policy.
Benefits of Early wealth variant
Your family looks up to you to make your dreams a reality. With Smart Wealth Advantage Guarantee, you can. Now apart from getting an assured sum at the end of your policy term, you can also have an option to receive an income benefit from as early as the 1st year, while getting enhanced protection all along.
Enhanced flexibility
Choose your premium payment term and income start year. Receive income on special occasions through our “Save the date” option#Liquidity
Option to get income as early as first year through our “Early wealth” variant. Option to accrue your income and withdraw it anytime during the policy termEnhanced protection
In-built accidental death benefit of 50% of the sum assured (applicable when premium payment term is over). Optional policy continuance benefit##Advantages of Early wealth variant
• Enhanced liquidity for you with the option to receive income from year 1(available with premium payment terms of 10 and 12 years)
• You also have the option to start your income from year 5, 7 or 10
• You can choose to accrue your income and withdraw it partially or fully at a later stage with interest**
• An additional policy continuance benefit cab also be opted in order to ensure enhanced protection for your loved ones
ARN: PCP/SWAG4/230723
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