Max Life Pension Plans

Max Life Pension Plans
  • 98.74% Claim Settlement Ratio
  • 239 Branches
  • 24*7 Customer Assistance
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About Max Life Insurance Company

Max Life Insurance Company is a joint venture between Mitsui Sumitomo Insurance Company Limited and Max Financial Services Limited. In India, Max Life Insurance is one of the leading life insurance companies in India. Max Life Insurance company has come out with multiple insurance products starting from basic life insurance to Max Life pension plans as well. It has different plans to cater to different stages of life in terms of protection, savings and creating wealth among others. The company also has a quality distribution system with multi-channel distribution partners. The company has tied up with many industry experts.

  • Claim Ratio: The company keeps on offers better claim settlement service to all its customers and that's why it has a 98.74% claim settlement ratio.
  • Branches: The company has spread its operations all over the country and to reach widely it has 239 offices.
  • Customer Assistance: The company and its experts are always there to assist you with all your queries 24*7.
Lic Pension Plans

Fast Facts (2017)

HeadquartersGurugram
Branches239
Business LineLife Insurance
Claim Ratio98.74%

Max Life Retirement Plans

To secure your retirement life, the company is offering multiple pension plans that are designed perfectly cater to different needs of post-retirement years.

1. Max Life Pension Plan: Forever Young Pension Plan

Max Life Forever Young Pension Plan that creates savings for retirement years while protecting you from the ups and downs of the equity market. It also offers an additional annuity advantage to protect your partner and your family against unforeseen events so that you and your loved ones can easily live life as they want.

Key Features of Forever Young Pension Plan

  • Corpus: This Max Life pension plan builds a large corpus to fulfill your retirement goals and needs.
  • Protect Your Savings: This Max Life Pension Plan is great at protecting your savings from the market downfall.
  • Secure Your Partner: This plan is great at securing your spouse's future financially, even if you are not around.

Eligibility of Forever Young Pension Plan

Entry Age30 - 65 years
Vesting age50 - 70 years
Premium Payment Term20 years
Monthly premium10000

2. Max Life Pension Plan: Guaranteed Lifetime Income

Max Life Guaranteed Lifetime Income is an annuity plan that offers the opportunity of converting your savings into a lifetime regular income. This Max Life pension plan is a smart way to ensure that you are getting regular income and allows you to stay on top of your expenses.

Key Features of Guaranteed Lifetime Income

  • Guaranteed Income: This Max Life pension plan is designed in a way that offers guaranteed income to cater to different financial needs of customers.
  • Payout Flexibility: It offers the option to receive a payout on a yearly, half-yearly, quarterly and monthly basis.
  • Multiple Annuity Options: It has multiple annuity options such as Single LIfe annuity option and Joint life annuity option.

Eligibility of Guaranteed Lifetime Income

Eligibility50 - 80 years
Premium Payment options1000 - No limit
Annuity Payment modesMonthly, quarterly and semi-annually
Death BenefitAvailable

3. Max Life Pension Plan: Perfect Partner Super Plan

Max Life Life Perfect Partner Super Plan is a pension plan that takes care of your partner's financial needs until 75 years of age. It allows having carefree post-retirement years. This is a great plan to secure your golden years of retirement. This plan offers maturity and death benefits as well.

Key Features of Perfect Partner Super Plan

  • Guaranteed Maturity Sum Assured: This plan offers a guaranteed payback of 212.5 % of guaranteed maturity sum assured in the form of money backs and lump sum.
  • Security For Your Partner: By adding a Max Life Waiver of Premium, you can secure your partner's future by waiving off future premiums in case of an eventuality.
  • Bonus Option: With this pension plan, you get paid up additions and terminal bonus that increases the sum payable.

Eligibility of Perfect Partner Super Plan

Entry Age91 days - 75 years
PPT7,10,15 and 20 years
Minimum PremiumRs.20000
Minimum Sum AssuredRs.50000

Why Max Life Pension Plans In India?

Max life Pension Plans ensure that your retirement is a much-awaited phase of life, and no longer something which you could feel cautious of. They provide you with several flexible options, so you can decide for yourself. For a long term pay premiums, and whilst precisely you want to get hold of the payouts. What's more, pension plans from Max Life additionally ensure that during your absence, your partner gets all the required financial assist, without being dependent on others.

Retirement plans are insurance policies designed in a way that can provide you financial security once your income stops. Under the Max Life retirement plans, you can also go for monthly pension benefits by buying annuity plans. They help you invest your income and create a fund that you can withdraw during your retirement years.

How To Choose The Best Retirement Plan?

  • Vesting Age: You need to check vesting age as it is the age at which you will start getting the pension. Retirement time will depend upon your career and financial status.
  • Premium Payment Term: It is an important thing to look for as it defines the period for which you have to keep paying premiums.
  • Annuity Options: It will help you in determining how much income will be sufficient to cater to different needs of yours during the post-retirement tenure.
  • Rider Options: Check them out as it will decide what all additional benefits you can get and can offer a comprehensive cover to your family.
  • Policy Surrender Charges: Keep in mind and take note of these charges, in the case where you have to surrender the policy.

Max Life Pension Plans: FAQ's

The early is better. We all are aware of the growing inflation rate and medical care cost which makes it important to have a secure fund to deal with all expenses during post-retirement. With the same, you don't have to depend upon anyone for your basic needs and liabilities.

When it comes it investing in a pension plan, a person should take care of the adequate corpus, different fund options, flexibility and additional features among others.

In case you misplace your insurance documents, you may request a copy by visiting the nearest Max Life Insurance branch and filing a notarized copy of an indemnity bond printed on stamp paper of `500/-. Along with that, self-attested identity evidence of insurance, the proprietor is also required.

The coverage holder loses out on all of the benefits of the plan. After discontinuance of the coverage, it cannot be withdrawn.

As a registered user, you have to visit the site of the company and fill the required details to enter your account on site from where you can check all the details regarding your policy.

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Last updated on 27-11-2019