Max Life launches life insurance coverage plan, Good Wealth Benefit Assure

NEW DELHI: Max Life Insurance coverage has launched its marquee Good Wealth Benefit Assure Plan, a non-linked, non-participating particular person life insurance coverage financial savings plan that provides assured returns, life insurance coverage cowl and monetary safety all mixed in a single product.

With its complete advantages, the Good Wealth Benefit Assure Plan is a holistic product that endeavours to make sure prospects meet their life objectives and stay protected within the long-run from monetary uncertainties.The product affords additionally affords the receipt of the annual revenue on a most popular date determined by the policyholder, and never essentially on the anniversary of the coverage issuance.

Prashant Tripathy, managing director & CEO, Max Life Insurance coverage, stated, “Life is ever-changing and as you develop, your and your loved ones’s wants and aspirations additionally develop. Whether or not it’s reaching milestones like shopping for your dream home, securing your youngster’s schooling or enabling a peaceable retirement, you have to safeguard them in right this moment’s unsure surroundings. Our Good Wealth Benefit Assure Plan affords life insurance coverage with wealth creation advantages, meant for a financially strengthened future. A marquee product from Max Life, it’s made on a really revolutionary design to offer a variety of versatile choices to the policyholder to select from, with out discounting the returns.”

Key options of the product are:

Enhanced flexibility: You may select premium cost time period, deferment interval and revenue length. Second, with ‘Save the Date’, obtain annual revenue in your particular date of the yr e.g. birthday, marriage anniversary and so on. Third, you possibly can withdraw or accrue revenue at your wants.

Assured revenue: You may get straightforward liquidity with revenue payout as early as first month. Second, get revenue returns as much as 30-40 years with lump sum at maturity.

Full-proof monetary safety: Supply of coverage Continuance Profit – incase of loss of life of life insured, a assured loss of life profit is paid to the household, whereas the survival and maturity profit proceed with out paying any future premiums. Choice to guard your long run financial savings plan towards the chance of loss of life, illness or incapacity. Second, get inbuilt ‘Further Unintended Loss of life Profit’- quantity equal to 50% of the sum assured is added to the coverage as extra ‘Unintended Loss of life Profit’ as quickly as premium cost time period is over.

Secured retirement: Get tax free revenue for all times. One could also be eligible for tax advantages as per prevailing tax legal guidelines. GST relevant on premium as per prevailing tax legal guidelines. Get return of fifty% of Whole Premiums Payable at age 85 years (relevant below choose variants solely). Lastly, get extra 100% return of premium on maturity (relevant below choose variants solely).

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