On maturity of this ULIP investment plan, you will be eligible to receive an amount (provided that you have not exercised the settlement option), which equals to the accumulated Fund Value, under both Wealth Variant & Whole Life Variant. Under this ULIP plan, the Fund Value payable upon maturity will be calculated as:

Fund Value = Summation of Number of Units in Fund(s) multiplied by the respective NAV of the Fund(s) as on the date of maturity

You are also entitled to receive the total amount of mortality charges (Return of Mortality Charges or RoMC) paid towards the ULIP plan, upon surviving the policy tenure. At the end of the policy term, on the maturity date, the total amount of mortality charges deducted in respect of life cover provided throughout the policy term, will be added back as ROMC, to the Fund Value, as applicable. 

ROMC is not applicable in case of a Surrendered, Discontinued or Paid-up policy and will be payable provided all due Regular Premiums under the policy have been paid up to date.

Max Life Flexi Wealth Plus provides comprehensive financial protection to your family in case of your unfortunate demise within the ULIP plan tenure. In this case, your nominee shall receive the highest of the following values:

    i. Sum Assured (reduced by applicable partial withdrawals** from the accumulated Fund Value, if any), or

    ii. Fund Value (as on the date of demise of the Life Insured)

    iii. 105% of the total premiums received up to the date of death (reduced by applicable partial withdrawals** from the accumulated Fund Value, if             any)

The policy will terminate after the payment of the death benefits.

** The Applicable Partial Withdrawals mentioned above refers to all the partial withdrawals made by you (as the policyholder) for two years immediately preceding death of the Life Insured under the plan. 

Max Life Flexi Wealth Plus offers Guaranteed Loyalty Additions and Wealth Boosters as part of Survival benefit, based on your annualized premium band. The three premium bands under Max Life Flexi Wealth Plus plan are as follows –

    • Band 1: Annualized premium less than Rs 100,000

    • Band 2: Annualized premium between  Rs 100,000 to Rs 199,999 (both inclusive).

    • Band 3: Annualized/Single premium of Rs 200,000 and above.

Guaranteed Loyalty Additions are payable as a percentage of the total fund value at the end of each policy year (from the 6^th year onwards of the ULIP investment plan), depending upon your band as follows –

On the other hand, the Guaranteed Wealth Boosters are an additional percentage of Fund Value, which are added to the accumulated Fund via the creation of additional units. These additional units are created at the end of every five years, starting from the 10^th policy year, basis your premium band as follows –

You may be entitled to certain tax deductions on your premiums and on proceeds under the policy benefits. Please note that all such tax deductions are subject to tax laws prevailing at the time of payment of premium or receipt of benefits. You may seek an independent advice on tax benefits from your tax advisor.

a) Self-Managed Portfolio Strategy - A strategy wherein your money will be allocated in your choice of fund(s).

b) Lifecycle based portfolio strategy - An option to manage your funds by creating a balance between an equity and a debt fund of your choice through systematic allocation based on your changing age.

c) Trigger based portfolio strategy - An event based strategy that helps you in ‘Securing your Gains’. The premium will initially be distributed between an equity and a debt fund chosen by you, in a 75%: 25% proportion. Your portfolio will be re-balanced and funds will be re-allocated based on a pre-defined trigger event at every monthly anniversary of the policy.

d) Systematic transfer plan - An option which replicates a rupee cost averaging method by systematically moving your money from a debt to equity fund every month. The premium received net of charges shall be allocated first to Secure Plus Fund. Immediately thereafter and on each subsequent monthly anniversary, units available in Secure Plus Fund will be systematically transferred to Growth Super Fund based on the formula: [1 / (13 – month number in the policy year)]. 

e) Dynamic fund allocation strategy - A standardized approach for striking the right balance between debt and equity by rebalancing your portfolio basis years to maturity remaining in your policy. The funds shall be maintained amongst Growth Super Fund and Secure Fund in a pre-defined proportion that changes depending upon the years left to maturity as per a matrix.