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Secure Your Child’s Future with Max Life Child Plans

Updated on November 25, 2020 , 19 views

When you are a parent, all you want is the best of the world for your child, isn’t it? And, by having an adequate policy plan for your child is something that can offer you the needed financial backup, whether or not you are around. Keeping this in mind, this post is dedicated to reviewing the benefits that Max life child plans offer.

Max life child insurance

Max Life is one of the renowned private life Insurance companies, which operates as a joint venture between Mitsui Sumitomo insurance Co. Ltd. And Max Financial Services Ltd. While Max Financial is a part of the Indian Max Group, the Mitsui Sumitomo is a member of MS&AD Insurance Group – which is one of the leading insurers across the world.

The company offers two major child plans that cover a variety of maturity as well as death benefits. Without further ado, read this post ahead and find out a suitable child plan that you can invest in right away.

Types of Max Life Child Plans

1. Max Life Future Genius Education Plan

This Max life Child Insurance Plan is a non-linked plan that offers an abundance of benefits as well as money backs; thus, making sure that your child’s future is completely secured in terms of finances, even if you are not there.

In case the policyholder passes away suddenly, the policy continues to be valid, and the company waives off future premiums. Once the child has reached graduation, this policy provides guaranteed money back.

Moreover, if you’d like to customize the money backs receipt time, you can do so as well. And then, this Max life future genius education plan also allows you to withdraw several bonuses against future premiums.

Features

  • 4 different guaranteed money back in the last 4 policy years with every one of it amounting to almost 25% of the assured sum
  • Death benefit available as a lump sum or monthly Income for the next 135 months from the month of death
  • Deferment and discount options available
  • Three different bonus options under this plan
  • Maturity benefit comprises cash bonus (if available) or accrued paid-up additions (if available) + moneyback payment + terminal bonus (if available)
Eligibility Criteria Requirements
Entry age 21 – 45 years
Maturity age Up to 66 years
Policy tenure 13 – 21 years
premium payment term Up to 8 years
Sum assured Rs. 3 lakhs – Unlimited
Premium amount Rs. 40,000 – Unlimited

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2. Max Life Shiksha Plus Super Plan

This Max Life Insurance for child is a unit-linked child plan that ensures that the future of your child remains secured in case of unfortunate death, courtesy to its Funding of Future Premiums and Family Income Benefit. You also get the freedom to choose your own policy term as per the convenience.

The plan also provides options to pay premiums for up to 5 years to get coverage for 10 years. Along with that, this plan also covers maturity and death benefits.

Features

  • An amount equal to 10% of the sum assured every year after the death of the insured person till the end of the tenure
  • Max life Shiksha plus super policy remains active even if the insured passes away
  • Guaranteed loyalty additions available
  • Death benefits available in a lump sum, family income or premium funding options
  • Maturity benefits available
Eligibility Criteria Requirements
Entry age 21 – 50 years
Maturity age Up to 65 years
Policy tenure Up to 10 years or same as premium payment term
Premium payment term Up to 25 years
Sum assured Rs. 5 lakhs – Unlimited
Premium amount Rs. 25,000 – Rs. 50,000

How to Apply for Max Life Child Plans?

If you have made up your mind to apply for Max Life Insurance plan to secure your little one’s future, there are two seamless ways to do so:

  • Online Application: By visiting the official portal of Max Life, you can easily find plans and their details, including benefits and coverage. All you would have to do is choose one, fill-up the form with your details and pay the premium.

  • Intermediaries: If you don’t want to apply online but acquire more information, you can choose this method. Offline, you can find a variety of intermediaries, such as banks, brokers, agents and more who can help you choose the best possible plan.

Max Life Child Insurance Customer Care

  • Customer Care Number: 1860-120-5577
  • Email ID: online[@]maxlifeinsurance[dot]com
Disclaimer:
All efforts have been made to ensure the information provided here is accurate. However, no guarantees are made regarding correctness of data. Please verify with scheme information document before making any investment.
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