Saving Advantage Plan vs Lic Jeevan Saathi

Save More, Live Better with Axis Max Life Savings Advantage Plan

Whether aiming for a new car or your daughter's dream wedding, savings alone won't do it; you need to grow your money to reach your future goals. That's why Axis Max Life launched an Axis Max Life Savings Advantage Plan. It helps you grow your savings to build wealth and achieve your future goals while providing life coverage against unfortunate death. 

Apart from the lump sum death or maturity benefit payout, this plan offers you 5.5% of Guaranteed Additions at the end of each policy year for the first 5 policy years to boost your sum assured amount. 

Even the life insurance plan offers flexibility to select payout options, such as lump sum or monthly income. On the unfortunate death of an insured person during the policy, a sum of the guaranteed death benefit, guaranteed additions (if any), and Terminal Bonus (if any) shall be payable to the nominee.

Axis Max Life Savings Advantage Plan offers you a range of benefits including:

• Flexibility to choose premium payment terms
• Guaranteed additions
• Flexible policy tenure

• Cash bonuses

LIC Jeevan Saathi is basically an endowment assurance policy that is there to ensure the lives of husband and wife. It offers the required financial protection to the insured's life. Under the same, the insured lives will be able to get the maturity amount and the end of the policy term.

It is a unit-linked insurance plan under which a couple can get the required insurance coverage within a single policy. In this policy, the proposer will be called Principal Life Assured (P.L.A.) and the other life (husband/wife) will be called Spouse Life Assured (S.L.A.). Recently, this plan has gained so much popularity just because of its unique features. The plan allows the P.L.A. to choose the sum assured amount, under which both lives will be insured. It may also vary if you opt for a single premium or regular premium contract, as well as your age and the amount of premium agreed to pay.

When it comes to regular premium policies, in case of the demise of the P.L.A. during the policy's tenure, the plan will help his/her spouse for waiver of all future premiums including outstanding premiums as well.

LIC Jeevan Saathi Plan offers you a range of benefits including:

• Maturity benefits
• Bonuses
• Partial withdrawals

• Switching
• Death benefits