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 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.
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.
|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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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.
|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|
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.
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