Max Life Insurance : How To Choose Retirement Plan

Organisation : Max Life insurance Co Ltd
Facility : How To Choose A Retirement Plan

Retirement Plan : https://www.maxlifeinsurance.com/
Home Page : http://www.maxlifeinsurance.com/

How To Choose Retirement Plan :

It is prudent to plan for the do-anything-you-like years of your life in the active money-making years of your life. And the earlier you start the larger corpus you will be able to build.

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Max Life Insurance Policy Related Query

You have to decide whether you would be comfortable getting payments in installments or in a lump sum on an annual basis. Though each plan is unique, certain important factors that one must keep in mind while selecting a retirement plan are:
(a) When and what is the expected requirement:*
For retirement plans, although you may not have a specific time to receive money it is always preferable to decide beforehand. For a life of pride and independence, you need to determine the age when you want to retire and the number of years thereafter. Also, take into consideration medical conditions, obligation towards children, number of dependents, etc.

(b) Charges to be paid:*
Your aim is to receive maximum and timely payments during the golden years of your life. So, plan wisely on the right amount and mode of payments. You need to check the bonus declaration clauses and see if limited period premium payment options are available or not.

(c) Features offered by the plan:*
** All plans have different characteristics.
** You need to weigh out the options available and decide on the one that is most suitable to your needs and lifestyle. ** For example, if you are comfortable paying premiums for a limited period of time, you should make that clear to your agent.
** See how much terminal illness benefit is provided. Most of the insurance companies offer bonuses for retirement plans.

(d) Flexibility of the plan:*
** Inspite of all predictions, what actually happens sometimes is different from what you had planned.
** In such cases, you need a plan that is flexible enough to suit the present demand. In case of death of Life Insured, the money should go to the nominee.
** With the various riders available you can customize your plan as per the need.

What this plan offers you :
** Get Guaranteed 212.5% Of Guaranteed Maturity Sum Assured
** 7.5% of Guaranteed Maturity Sum Assured for 15 years from age 61 years to 75 years on each policy anniversary. 100% of Guaranteed Maturity Sum Assured plus accrued Paid – Up Additions (if any), plus Terminal Bonus (if any) on policy maturity at age 75 years.
** Flexible Premium Payment Terms

** Choose between 7/10/15/20 years Premium Payment Term Options as per your need
** Guaranteed Retirement For Your Spouse
** Purchase the product on your spouse’s name along with Max Life Waiver of Premium Plus Rider (UIN:104B029V01).
** This will ensure that the policy continues with all its benefits in case of an eventuality (dismemberment, diagnosis of critical illness or death)

** Flexibility To Withdraw Money To Meet Any Exigencies
** You have the flexibility to withdraw the accumulated bonuses (cash value of the Paid – Up Additions) in case of any need*
** Guaranteed Protection Throughout The Policy Term
** The plan offers you guaranteed protection which continues to grow through bonuses* till age 75 years

Flexible Bonus Options :
Flexibility to choose your Bonus Options as per your need
Paid in Cash: Bonus declared will be paid to you in cash.
Premium Offset: Bonus declared will be used to offset the future premiums
Paid – Up Additions (PUA): Bonus Dividends paid to policyholders from funds created out of profits realised by the company will be used to purchase additional Sum Assured which increases the benefits under the policy.

About Premium Payment :
Policy Term :
Upto age 75 years of Life Insured. Policy Term = 75 less age at entry of Life Insured

Premium Payment Term :
7 years, 10 years, 15 years or 20 years