Correct Answer : Max Life Insurance Company Ltd
Max Life Insurance Company Ltd has launched the ‘Max Life Smart Fixed-return Digital Plan’, a non-linked, non-participating, individual life insurance savings plan. The offer helps customers meet short-term financial goals with a minimum policy tenure of five years.
The plan offers guaranteed tax-free returns up to 6.14% along with life cover protection at monthly premiums as low as ₹3000 and is also available to purchase on Max Life’s website and Policybazaar.com, said the firm.
V Viswanand, deputy managing director, Max Life said, “The Smart Fixed-return Digital Plan is designed for a generation that wants a short-term guaranteed product with tax-free returns topped with life insurance. The combination of easy liquidity and agile onboarding makes this new-age product a valuable fit in the millennials’ savings journey."
Key features of ‘Max Life Smart Fixed-return Digital Plan’ stated by the firm are :
* Simplified on-boarding process along with instant confirmation of issuance after journey completion
* Fully guaranteed returns payable as a lump sum at maturity
* Flexibility to pay premiums monthly or annually for just five years
* Flexibility to choose between different variants, tailored to meet different financial security needs
* Higher benefits offered for higher premiums paid, as per the chosen goals
* Special benefits for women customers: 0.25% additional maturity benefit for five years’ policy term; 0.5% for ten years’ policy term
* Option of taking a loan against policy to help in case of financial emergencies
* Tax benefits on premiums paid and tax-free maturity benefits, depending on the chosen variant, as per prevailing tax laws..
Source : Mint
