Max Life Insurance Launches Flexi Wealth Plus Plan
News Desk, News Nation 360 : Max Life Insurance Company Ltd has announced the launch of Max Life Flexi Wealth Plus, a unit-linked non-participating individual life insurance plan, that combines protection and savings into a simple and flexible solution. Packaged to have the “best of all” into one single product for the customer - ‘Flexi’ corresponds to the range of flexible options the product offers, ‘Wealth’ signifies the financial growth prospects, and ‘Plus’ captures the essence of added extra benefits as sought by the customer. Under Max Life Flexi Wealth Plus Plan, a range of 10 funds and 5 investment strategies are available to choose from. Customers can choose one amongst the five available investment strategies, at no extra cost. While one of these is a self-managed strategy that lets the customer choose any of the fund(s) in any proportion, the other four [lifecycle based portfolio strategy, trigger-based portfolio strategy, systematic transfer plan and dynamic fund allocation strategy] are automated strategies which let the customers avail a hassle-free portfolio rebalancing based on a set and defined manner. Commenting on the product, Aalok Bhan, Director & Chief Marketing Officer, Max Life said that at Max Life Insurance, they believe it is important to rapidly adapt to a future more aligned with the ever-evolving expectations of their customers. The future will not only require insurance products to become more innovative but take personalization and customization to a new level. Product Features include : Two variants : Wealth variant where customers have the option to choose from multiple options of single, limited, and regular pay in different combinations to grow wealth while securing their family, Whole life variant that allows choice from multiple limited pay options (between 7 to 20 years), with death cover for a whole life. Two types of fund value enhancers ‘Guaranteed Loyalty Additions’ and ‘Guaranteed Wealth Boosters’ which are added as a percentage of Fund Value at specified years during the policy, Additional feature at maturity : ‘Return of Mortality Charges’ where all the mortality charges (in terms of absolute amount and excluding any extra mortality charge or any applicable taxes, cesses and levies) deducted during the term are added to the fund value at maturity, 12 free partial withdrawals within funds in a year (subject to the request placed after lock-in period and the amount is in accordance of the terms and conditions of the policy), Unlimited free switches without any charges being levied.
Report : Anustup Kundu