India's 1st IRDAI Approved Insurance Web Aggregator

Max Life Platinum Wealth Plan

  •  views
  •  views

How Does Plan Work

Let’s look some examples to understand the product benefits better

Standard Male Life, Premium Payment Mode: Annual, Fund Chosen: Balanced Fund

Please note that the above assumed rates of return, 4% and 8% are only scenarios atthese rates after recovering all applicable charges. These are not guaranteed and they are not the upper or lower limits of returns of the Fund Optionselected in your policy, as the performance of the Funds is dependent on anumber of factors including future investment performance. Applicable ServiceTax, Cess, and any other taxes as imposed by the government from time to time will be deducted from the premium received

Key Features

  • Comprehensive Life insurance coverage for you- Get a life insurance cover of 10 times the Annualised Premium (for Limited and Regular Pay options) from base policy. You can also opt for an additional life cover, with Max Life Partner Care Rider.
  • Option to choose Premium Payment Term and Policy Term as per your convenience- Pay premiums for a limited period (one year or five years) or entire Policy Term; with Policy Term options available from 10 years to 20 years (For Single Pay policies only 10 year Policy Term is available).
  • Your Choice of Funds & Investment Strategies- Choice of 5 (five) Funds for investors with different risk appetites. Alternatively you may select one of two fund strategies of Systematic Transfer Plan andDynamic Fund Allocation, to protect your investments against market volatilities
  • Guaranteed Loyalty Additions and Guaranteed Wealth Boosters for you- Enjoy Guaranteed Loyalty Additions and Guaranteed Wealth Boosters to further enhance your Policy Fund Value.
  • Low charges to boost your returns- This product offers zero policy administration charge post 5 policy years (other charges may apply).


Key Benefits

  • Maturity Benefit: Fund Value, as on Date of Maturity, provided Settlement Option has not been exercised
  • Death Benefit: On death of the Life Insured during the Policy Term, higher of Sum Assured (reduced by applicable partial withdrawals) or Fund Value (As on the Date of Death), subject to a minimum of 105% of all premiums paid, shall be payable
  • Guaranteed Loyalty Additions and Guaranteed Wealth Boosters
    • Guaranteed Loyalty Additions: The Company will pay additional percentage of Fund Value to the Fund by creation of additional units, at the end of policy year. 
    • Guaranteed Wealth Booster: Apart from the Guaranteed Loyalty Additions the Company will also pay Wealth Boosters to the Policyholder, which is an additional percentage of Fund Value to be added to the fund by creation of additional units, at the end of policy year. The additional percentage will be determined by the premium paid by the Policyholder

Eligibility conditions and other restrictions

Entry ages Minimum - 18 years
Maximum Entry Age - 5 Pay and Single Pay 60 years
Maximum Entry Age -  Regular Pay 55 years
Maximum maturity Age Single Pay and Limited pay(5yrs)  -70 years
Regular Pay - 65 Years
Annualised Premium Minimum: Rs. 2,00,000 for all variants 
Maximum: No limit
Annualised premium is defined as the total premium payable during a policy year.
Policy Term Single Pay- 10 yrs
5 Pay- 10-20 yrs
Regular Pay- 10-20 yrs
Premium Payment Mode Single Pay: One time Premium Payment
Limited Pay (5 Years) or Regular Pay: Annual, Semi-Annual, Quarterly & Monthly

Additional Features and Benefits

Riders Available

Max Life Partner Care rider (UIN:104A023V01)Max Life Partner Care rider (UIN:104A023V01) is available with this plan. Sum of all future premiums payable under the base policy or till Life Insured attains an age of 60 years (whichever is earlier), will be paid immediately on Life Insured’s death and the rider will terminate.Please Note – The Rider is available for Limited Pay & Regular Pay variants and has to be attached at Policy inception only. Please refer the Rider Brochure for more details on the RiderFor further details please refer to the Max Life Partner Care Rider brochure, Rider Contract

What happens if


At any time during the Policy Term, You have the right to surrender the Policy by giving Us a
written notice:
  • Surrender within the Lock in Period: If You surrender the Policy within the Lock in Period, We will credit the Fund Value by creation of Units into the Discontinuance Policy Fund after deducting applicable Discontinuance/ Surrender Charges. 
  • Surrender after the completion of the Lock in Period: If You surrender the Policy after the completion of the Lock in Period, We shall close the Unit Account and pay the Fund Value prevailing on the date of receipt of a valid request for surrender.


You are not entitled to any loan under this Policy

Discontinuance of Payment of Regular Premium
If the Premium is not received by the expiry of the Grace Period, We will, within 15
(Fifteen) days of the expiry of the Grace Period, give a written notice to You to
exercise one of the following options in writing within 30 (Thirty) days of the receipt
of such notice (“Notice Period”):
  • Choose to revive the Policy within the Revival Period; or
  • Complete withdrawal (i.e. surrender) of the Policy without any risk cover. 


Max Life will revive the Policy, subject to the following conditions:
  • You give Us a written request to revive the Policy;
  • Life Insured produces an evidence of insurability at Your own cost, acceptable to Us as per Our Underwriting Policy; and
  • You pay Us all overdue Premiums, as the case may be, in full.
Compare Ulip Plans

Leave a Comment

Unit Linked Plan Calculator
Important: Insurance is the subject matter of solicitation | © 2009-2022