Max Life and Policybazaar team up to launch the “Fixed Return Smart Digital Plan”, an online short-term LI savings plan for millennials
• Offers guaranteed tax-free returns1 while providing life cover via easy online integration Max Life Insurance Company Ltd. (“Max Life”https://www.devdiscourse.com/”Company”), has launched the “Max Life Smart Return Digital Plan’+ (UIN: 104N123V01), an unrelated individual life insurance savings plan and non-participation.The novel offers a developed foundation for a consumer insight study that helps clients achieve their short-term financial goals with a minimum policy term of five years.The plan offers guaranteed returns free of tax up to 6.14%2 as well as life insurance protection at monthly premiums as low as Rs. 3000/-* and is also available for purchase from the Max Life website and Policybazaar .com Fixed-return smart digital plan targets digital-savvy millennials who prefer quick, hassle-free online onboarding Offering higher returns compared to traditional savings instruments, this product innovation combines a guaranteed and tax-free offering and a protective cover insurance, allowing young consumers to benefit from the double advantage of savings and protection within the same product proposal. V Viswanand, Deputy General Manager of Max Life, said, “Developing products to meet customer needs has always been Max Life’s goal, and we are committed to bringing life insurance products to the market. innovative and digital hoses. return Digital Plan is designed for a generation that wants a guaranteed short-term product with tax-free returns and life insurance. The combination of easy liquidity and agile integration makes this new-era product a valuable part of the millennial savings journey.” Sarbvir Singh, CEO of Policybazaar.com, commented, “ Our consumer insights reveal that most millennials prefer short-term savings products with high yields, indicating an apparent demand for such a product.The launch of this plan, which is a short-term offering with guaranteed tax-free returns and life insurance coverage, would certainly meet the needs of this segment.We are delighted to work with Max Life to make this innovative savings and protection instrument accessible to millennials who need investment solutions fast and easy onboarding process with instant confirmation of issue after trip completion3 2. Fully guaranteed returns payable as a lump sum at due date 3. Flexibility to pay premiums monthly or annually for only five years 4. Flexibility to choose between different variants, suited to different financial security needs 5. Higher benefits offered for higher paid premiums, depending on chosen goals 6. Special benefits for female customers: 0.25% additional benefit at maturity for an insurance period of five years; 0.5% for a ten-year policy term 7. Ability to take out a policy loan to help with financial emergencies 8. Tax benefits on premiums paid and tax-exempt maturity benefits, depending on the variant chosen, in accordance with applicable tax laws4 Max Life Insurance (www.maxlifeinsurance.com) Max Life Insurance Company Limited is a joint venture between Max Financial Services Limited and Axis Bank Limited. Max Financial Services Ltd. is part of the Max Group, an Indian multi-company company. Max Life offers comprehensive protection and long-term savings life insurance solutions, through its multi-channel distribution including agencies and third-party distribution partners. Max Life has built its operations over two decades through a needs-based sales process, a customer-centric approach to engagement and service delivery, and trained human capital. According to public disclosures and annual audited financial statements for the financial year 2021-22, Max Life earned a gross written premium of INR 22,414 crore. As of March 31, 2022, the company had INR 1,07,510 Crore in Assets Under Management (AUM) and an In Force Sum Insured of INR 1,174,515 Crore. For more information, please visit the company’s website at www.maxlifeinsurance.com. Max Life Insurance Company Limited is a joint venture between Max Financial Services Limited and Axis Bank Limited. Head Office: 11th Floor, DLF Square Building, Jacaranda Marg, DLF City Phase II, Gurugram (Haryana) -122 002. You can call us on our customer support number 1860 120 5577. The trade logo displayed belongs to Max Financial Services ltd. and Axis Bank Ltd., respectively and with their consent, is used by Max Life Insurance Co. Ltd. It is the flagship platform of PB Fintech, owner of the fintech brand, Paisabazaar.com, and lending and insurance marketplace in the UAE region, Policybazaar. ah. The Policybazaar.com group enjoys the support of a multitude of investors, including private equity funds and other family offices. Policybazaar.com began with the goal of educating people about insurance products and with its offerings has reached out to the vast, highly under-tapped online insurance markets. + This life insurance product is offered and underwritten by Max Life Insurance Co. Ltd. The life insurance contract is entered into between the applicant and Max Life Insurance Co. Ltd.
* For all customer cohorts 1 Provided all premiums due have been paid and the policy is in force 2 Offered in the Titanium variant chosen by an 18-year-old female for a 5-year payment term and a 5 year policy 3 Applicable to clients who meet eligibility criteria and underwriting guidelines 4 Subject to applicable tax laws which may change from time to time, please consult your tax advisor
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