Max Advantage
This plan has been withdrawn by the insurance company and is no longer available for sale.
Policy opening date: 30th August 2010
This is a unit-linked insurance policy (ULIP) which is different from the traditional insurance policy. The premium paid in such policies is subject to investment risks associated with capital markets. The NAV of the units may go up or down based on the performance of fund. Here, the policy holder is responsible for his/her investment decisions.
Compare this plan with other Investment Plans
Max Advantage - Key Features
Guaranteed return of the Highest Policy NAV at maturity for all the units held in the Max Gain Fund II
Policy Term of 10 years but premium to be paid for either 5, 6 or 7 years
Refund of 60% of total Premium Allocation Charge at maturity as Guaranteed Loyalty Addition irrespective of the premium amount
Max Advantage - Benefits
In case of death of the policy holder, the nominee gets sum assured + fund value. If the death of the policy holder is caused due to accident, then
If the policy holder survives the policy term, then he/she gets the fund value + guaranteed loyalty additions.
Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C. T
There are no riders available under this policy Under this plan the policy holder gets the following fund options: 1. Asset Allocation Fund 2. Equity Index Fund II You can invest additional premiums as top-up premiums anytime except in the last five policy years. Sum assured will automatically increase by the You have the flexibility to switch investments from one fund to the other any time during the policy term. The minimum switching amount shou You are allowed to make partial withdrawals in this policy after 5 complete policy years. The minimum amount of partial withdrawal should be 7 times X Annualized Premium for age>=45 years If the policy holder stops paying the premium, then the accumulated policy fund amount shall be paid to the policy holder after the fifth policy year. In case of death of the Life Assured during this period, only the accumulated fund value will be payable to the nominee. If the policy holder stops paying the premium after 5 years, then the accumulated policy fund amount till the date of discontinuance shall be paid to the policy holder and the policy will terminate immediately. The policy can be surrendered from the 6th (sixth) policy year. The surrender value will be equal to the fund value of all the premiums paid. Loan facility is not available under this policy.
... Eligibility conditions and other restrictions in Bajaj Allianz Max Advantage
Minimum
Maximum
Sum Assured (in Rs.)
10 times X Annualized Premium for age< 45 years
10 times X Annualized Premium
Policy Term (in years)
10
10
Premium Payment Term (in years)
5
7
Lock-in period
5 years
Entry Age of Policyholder
8
60
Age at Maturity
18
70
Regular premium
25,000
2,00,000
Single premium
NA
NA
Payment modes
Yearly
Top-up premium
5,000
No Limit
Max Advantage - FAQs
