Max Life insurance has launched Smart Wealth Advantage Growth Par Plan; a non-linked participating individual life insurance savings plan.
The plan combines “Protection, Liquidity, and Flexibility” into a simple product and offers comprehensive financial protection for the family for key milestones in life, as well as retirement.
Max Life states the Smart Wealth Advantage Growth Par Plan has six benefits:
- Liquidity: Insta Income with enhanced early-liquidity benefits;
- Guaranteed component: Guaranteed Income based benefits to ensure predictability of returns;
- Cash Bonus: A percentage of annualised premium will be payable to the policyholder as cash if declared;
- Retirement income;
- Flexibility: Can choose from four income designs with the option to receive income on special days or accumulate for future needs, and
- Enhanced protection benefits: Offered through Policy continuance benefit, inbuilt additional accidental benefits and optional riders.
Furthermore, the plan extends special discounts to transgender customers and additional benefits on maturity for women. These measure are to reaffirm Max Life’s dedication to an inclusive and equitable society.
Prashant Tripathy, managing director and CEO, Max Life, said: “Customer obsession is in Max Life’s DNA, and developing flexible products that respond to evolving consumer needs is our core competency. We recognised the emerging need for a well-designed income plan emphasising the value of a regular additional income for long-term financial stability. With Smart Wealth Advantage Growth Par Plan, our primary objective is to offer a comprehensive savings plan, which provides lasting income assurance during the years when one needs it the most.”
Max Life Insurance Company Limited is a Joint Venture between Max Financial Services Limited and Axis Bank Limited.
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