Everything You Need To Know About Max Life Forever Young Pension Plan

Max Life Forever Young Pension Plan is a unit-linked, non-participating pension plan that lets you grow your corpus for your retirement phase and safeguards your investments from the ups and downs of the equity market. Max Life Forever Young Pension plan also provides additional annuity plans under which you can have your spouse covered under the same policy and safeguard you and your family from the uncertainties of life. Under this plan there are two fund options offered Pension Maximiser and Pension Reserver options. 

Features of Max Life Forever Young Pension Plan

Below mentioned are some salient features of Max Life Forever Young Pension plan:

• Unit-linked pension plan
• Provides financial security under difficult circumstances
• Guaranteed loyalty additions
• Provides vesting benefits
• Safeguards your investment from fluctuation equity market performance
• Two investment options available - Pension Maximiser and Pension Reserver 
• Max Life Partner Care Rider option available under this plan
• You can cover your spouse under the same policy
• You can choose to pay premiums one time, annually, semi-annually, quarterly or monthly.

Eligibility Criteria for Max Life Forever Young Pension Plan

Below mentioned is the eligibility criteria for purchasing Max Life Forever Young Pension plan:

Max Life Forever Young Plan Details

Below mentioned are some policy details of Max Life Forever Young Plan: 

1. Grace Period: A grace period of 30 days for annual, semi-annual and quarterly premium payments and 15 days for monthly premium payments is provided for Max Life Forever Young plan. If you fail to make premium payments on time or within the grace period, the policy will lapse.  

2. Policy Loan: Policy loans are not allowed under the Max Life Forever Young plan. 

3. Free-look Period: A free-look period of 15 days from the date of receipt of the policy documents, will be provided to the life assured. Under the free-look period the life assured can choose to return or cancel the policy if he/she is not satisfied with the policy or terms and conditions of the policy. You can return or cancel the policy by providing a written request to the life assured, refund premiums paid, after deducting the proportionate risk premium and expenses incurred for medical examination of the life assured.  

4. Suicide Exclusion: In case the life assured passes away due to committing suice with the first 12 months from the date of policy commencement, funds value shall be provided to the nominee. 

Also read - Why Is Retirement Planning Important For A Person?

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.