All About Max Endowment Plans

Endowment Plans are one of the life insurance products which provides life coverage to the individual along with providing long term savings with the purpose of accumulating a lump sum amount for the policyholder, to fill their long term goals. The long term goals include purchasing a vehicle, building a house, going for an abroad vacation etc.

All About Max Endowment Plans

Here are the top few endowment plans offered by Max Life Insurance along with their features and benefits.

Max Life Future Secure ii Plan

Features & Benefits

• Minimum age of entry: 18 years.
• Annual mode of premium payment. 
• Incase of an unfortunate event happens to the policyholder, his/ her nominees receive 100% of the sum assured along with the accumulated bonuses, if any.
• The policyholder is also convenient to pay the premium for the first 12 years and then enjoy the coverage on the life for 20 years along with the maturity benefit.
• The minimum basic Sum Assured should be Rs. 1,50,000 while the maximum doesn't have any limit. 
• This policy also offers an advantage of Policy continuance benefit where if the life insured is a minor at the time of claim.

Max Life Perfect Partner Super Plan

Features & Benefits

• This basically a Savings Traditional Participating Money-Back Life Insurance Plan.
• This Plan allows the policyholder to choose their premium payment term at their will. A person has the option to choose among 7, 10, 15 or 20 years for their premium payment term.
• The Policyholder gets life insurance coverage along with maturity benefits till 75 years of age.
• The Money Back feature in this plan allows you to get 7.5% of the Guaranteed Maturity Sum Assured.
• You can also have access to other riders which extend your coverage area by paying additional charges or premiums based on the add-on rider.

Max Life Gain Premier Plan

Features & Benefits:

• You have six options to choose your Premium Payment Term(PPT), according to your requirements which include the following:

• PPT is 6 or 8 years with a Policy Term of 15 and 20 years. 
• You pay for 6 or 8 or 10 years with a Policy Tenure of 20 yrs.
• PPT is 12 years with a Policy Terms of 25 years. 

• The policyholder also has the flexibility to choose from 3 bonus options based on the individual's needs.
• The maturity benefit includes the complete Guaranteed Maturity Sum Assured along with accrued bonuses(if any) on the maturity of the policy.
• This plan also offers a guaranteed death benefit which ensures financial protection to your loved ones even after your life.
• The Minimum Guaranteed Maturity Sum Assured amount should be Rs. 50,000 and there isn't any limit for the maximum amount.
• In the worst case, if the policyholder diagnoses a terminal disease and is likely to die within the six months, the insurer provides upto 50% of Guaranteed Maturity Sum Assured or upto a maximum of Rs. 10 lakhs, whichever is lower to the nominees.

Also read 

3 Reasons Why You Should Not Say No To An Endowment Plan    

How To Buy Endowment Policy Online?

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.