Presenting Max Life Online Savings Plan, A Unit Linked Non Participating Individual Life Insurance Plan that offers life insurance protection for your family and provides market linked returns. Under this plan you can choose your Death Benefit and Fund option as per your need.

Max Life Online Savings Plan offers the following benefits:

MAX LIFE ONLINE SAVINGS PLAN

• Product offers two variants:-
Under both variants, on maturity, you will be eligible to receive a Lump Sum amount, provided settlement option has not been exercised, equal to the Fund Value, where the Fund Value will be calculated as:
Fund Value = Summation of Units accumulated in Fund(s) X NAV of respective Fund(s) as on the Maturity Date
Please Note : In case the Maturity Date is a non working day for the Company or markets then next working day’s NAV will be applicable.
a) Variant 1 - Under this variant, death benefit is defined as highest of Sum Assured or 105% of total premiums paid till the date of death or Total Fund Value as on the date of death.
Further, depending on your age, upto three cover multiple options are available under this variant as mentioned below.
Age Bands Cover Multiple 18 to 45 years 10, 15, 20 45 to 55 years 10, 15 56 years & above 10
b) Variant 2 - Under this variant, death benefit includes a Lump Sum benefit payable immediately on death, followed by regular payouts in the form of Family Income Benefit and the total Fund Value at the end of the Policy Term. In addition, all outstanding premiums after the date of death of the Life Insured will be funded by the Company. The cover multiple under this variant is fixed at 10 times the Annualised Premium.
Variant 2 offers higher and more comprehensive Death Benefit than Variant 1 and hence, the returns under Variant 2 will be lower than Variant 1, all else being equal.

• Option to choose Policy Term and Premium Payment Term as per your convenience –
a) Variant 1- Flexibility to choose a Premium Payment term and Policy term basis retirement goals. • For maturity age <=70 years choose Premium Payment Term (5 to 52 years) and Policy Term (5 to 52 years) • For maturity age between 71 years to 85 years choose Premium Payment Term (10 to 67 years) and Policy Term (10 to 67 years) b) Variant 2- Complete flexibility with option to choose a Premium Payment Term (5 to 30 years) and Policy Term (5 to 30 years) basis your need.

• Choice of Funds or Investment strategy –
Choose from 5 (five) Funds as per risk appetite. Alternatively, you may select Dynamic Fund Allocation investment strategy to protect your investments against market volatility.

• Unlimited Free Switches –
There is no limit on the number of switches done in a policy year i.e. You may switch any number of times without any charges being levied.

• Zero Premium Allocation and Policy Administration Charge-There is no Premium Allocation and Policy Administration charge under this product. There will be only Mortality and Fund Management Charge.

IN THE UNIT LINKED POLICY, THE INVESTMENT RISK IN THE INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER. LIFE INSURANCE COVERAGE IS AVAILABLE IN THIS PRODUCT. APPLICABLE TAXES, CESSES, AND LEVIES AS IMPOSED BY THE GOVERNMENT FROM TIME TO TIME WILL BE DEDUCTED FROM THE PREMIUMS RECEIVED.
Please Note: Unit Linked Insurance Products do not offer any liquidity during the first five years of the contract. The Policyholder will not be able to withdraw the money invested in Linked Insurance Products completely or partially till the end of the fifth policy year.
A complete product proposition is one that offers you life coverage and helps you meet key milestones of life with suitable returns.

https://www.maxlifeinsurance.com/content/dam/corporate/Brochures/online-savings-plan/max-life-online-savings-plan-policy-prospectus.pdf,