IN THE UNIT LINKED POLICY, THE INVESTMENT RISK IN THE INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER.

Cre ate yo ur

Growth
Journey
Your way

with
MAX LIFE

F LE I E A LTH
ADVANTAGE PLAN
Unit Linked Non-Participating Individual Life Insurance Plan | UIN: 104L121V01

A Unit Linked Insurance Plan that partners you in your journey

of wealth creation and allows you to craft your plan as per the
needs of your loved ones, because for them

YOU ARE THE DIFFERENCE

Product variants

The product can be taken with one of the following two variants:

1. Wealth Variant (Single Pay / Limited Pay / Regular Pay)

2. Whole Life Variant (Limited Pay)

You can addit ionally opt for Waiver of Premium (WOP) benef it, if Policyholder and Life Insured are different individuals.
The Waiver of Premium benef it shall be available at inception only for limited and regular pay Policies.

Your chosen premium amount determines the benef its offered under both variants.

The benef its increase with the increase in Premium bands, chosen by you as per the below table:

Premium Band Single / Annualised Premium

Band 1 Less than ` 1,00,000

Band 2 ` 1,00,000 to ` 2,49,999

Band 3 ` 2,50,000 to ` 3,99,999

Band 4 ` 4,00,000 to ` 9,99,999

Band 5 ` 10,00,000 to ` 14,99,999

Band 6 ` 15,00,000 and above

Plan the growth of your wealth with 3 simple steps:

Choose your plan variant – Wealth or Whole Life

Choose your Premium amount, Premium Payment Term and Policy Term to match your
f i nancial protect ion and savings needs

Choose your Investment Strategy from the available 5 options and corresponding funds from a
total of 12 available funds basis your investment style and risk appetite to maximize your
investment

On maturity of the Policy, you get the maturity benefit as a lump sum or as periodic pay-outs through settlement opt ion (Refer
to sect ion ‘Settlement opt ion’ for details). In case of your unfortunate death during the Policy Term, your nominee / legal heir
will receive the death benefit. Please refer to the following sections for details on death and maturity benef its.
Features

Max Life Flexi Wealth Advantage Plan offers the following rich features and benefits:

&
Return of all charges
You are eligible for a refund of all or some part of the ULIP charges deducted in your policy, which are added back to your
fund value.

#
Guaranteed Loyalty Addit ions to boost up your fund value
Enjoy Guaranteed Loyalty Addit ions to further enhance your Fund Value from 8 th year onwards.

~
Auto Debit Booster
Enjoy an additional booster at the end of 5 Policy Years, on paying any of your first five Premiums (Excluding the f irst
Premium) through auto debit (ECS, DD etc.) mode.

Choose from f l exible plan opt ions

You can choose from 2 plan variants (Wealth / Whole Life) and mult iple Premium Payment Term and Policy Term opt ions
to suit your investment tenure. You can further choose from 5 investment strategies and 12 funds to suit your
investment style.

Opt ion of Whole Life Cover and wealth accelerat ion

The Whole Life Plan variant start ing with 5 years of Premium Payment Term allows you to shield your loved ones for the
whole of your life, and lets your wealth grow t ill 100 years of age.

Option to choose your Sum Assured Cover Mult iple

You can choose your Life Cover from mult iple opt ions of 1.25, 7, 10 and 15 times the Premium depending upon your
Premium Payment Term.

Opt ion to avail regular systemat ic money withdrawals as per your desire: Smart Withdrawals
The Whole Life variant lets you enjoy a secondary income stream by withdrawing money regularly from your Policy. You
may choose this opt ion of ‘Smart Withdrawals’ at incept ion or anytime during the Policy Term.

Unlimited free switches and premium redirect ions

Basis your change in investment style, you may avail unlimited switches and premium redirections, absolutely free of any
cost.

Tax Benef its

Tax benef its may be applicable on premiums paid and benef its received as per prevailing tax laws.

Opt ional waiver of premium cover

This option ensures that, in case of unfortunate demise of the policyholder provided the risk cover under the Policy is
in-force, WOP has been chosen at incept ion and WOP cover is act ive on the date of death of the policyholder, the Company
will fund all future outstanding premiums of the base policy only (Not additional riders chosen) as and when due under the policy,
keeping all the promised benef its under the policy intact.

Charges eligible for return will be mortality charge on death benefit, Policy administration charge and premium allocation charge and will exclude any extra mortality charge, mortality charge on
&

Max Life Waiver of Premium Benefit, rider charge and Goods and Service Tax / any other applicable tax levied on the charges deducted.
#
Guaranteed Loyalty Additions: These shall be added to your fund value starting from the end of 8 th policy year and at the end of each year thereafter. GLA as a % of fund value for
various premium bands as a percentage of fund value are as mentioned in the prospectus. Please refer the prospectus for further details.

~
Auto Debit Boosters: Auto debit booster amount of 0.75% of premium will get added to your fund value at end of 5 th policy year, provided all due premiums t ill date have
been paid and the policy is in-force.
 Given below are the maturity benef its at assumed rates of fund return at 4% and 8% and the minimum sum assured under the policy
for a few sample modal points.

Wealth variant

4%* assumed rate of 8%* assumed rate of

return return Minimum
Age of Premium
Annualised Policy Cover Sum
Life Insured Payment Fund Value Fund Value
Premium (`) Term Mult iple Assured
(In years) Term at Maturity IRR at Maturity IRR
on Death
(`) (`)

35 100,000 10 20 15x 1,487,355 2.58% 2,690,019 6.48% 1,500,000

35 200,000 5 10 10x 1,123,820 1.47% 1,523,225 5.37% 2,000,000
35 400,000 5 15 7x 2,739,924 2.45% 4,428,393 6.28% 2,800,000
35 250,000 1 10 1.25x 305,420 2.02% 445,565 5.95% 312,500
40 100,000 20 20 7x 2,690,510 2.75% 4,199,426 6.63% 700,000
40 200,000 10 20 10x 3,017,612 2.67% 5,451,435 6.57% 2,000,000
40 400,000 5 10 7x 2,359,696 2.08% 3,165,803 5.87% 2,800,000
40 250,000 5 15 15x 1,617,481 2.00% 2,631,129 5.87% 3,750,000
40 200,000 1 10 1.25x 237,600 1.74% 349,744 5.75% 250,000

Whole Life variant

4%* assumed rate of 8%* assumed rate of

return return Minimum
Age of Premium
Annualised Policy Cover Sum
Life Insured Payment Fund Value Fund Value
Premium (`) Term Mult iple Assured
(In years) Term at Maturity IRR at Maturity IRR
on Death
(`) (`)

35 100,000 5 65 10x 3,424,457 3.10% 37,223,426 7.08% 1,000,000

35 250,000 7 65 7x 12,467,132 3.21% 129,377,073 7.17% 1,750,000
35 400,000 10 65 10x 28,029,997 3.26% 275,225,935 7.21% 4,000,000
35 250,000 20 65 10x 30,008,347 3.25% 255,913,846 7.20% 2,500,000
40 100,000 5 60 7x 2,920,895 3.09% 26,206,380 7.06% 700,000
40 250,000 7 60 10x 10,461,091 3.18% 89,963,685 7.14% 2,500,000
40 400,000 10 60 10x 23,650,182 3.25% 192,163,104 7.19% 4,000,000
40 200,000 20 60 7x 20,242,191 3.23% 143,074,775 7.17% 1,400,000

*Premium Payment Mode: Annual via auto debit; Standard life Male; Fund chosen: Balanced Fund; Non ISNP source
*Please note that the above assumed rates of return @ 4% and 8% p.a. respect ively are only scenarios at these rates after recovering all
applicable charges. These are not guaranteed and they are not the upper or lower limits of returns of the Funds selected in your policy, as
the performance of the Funds is dependent on a number of factors including future investment performance. For more information, please
request for your policy specific benefit illustrat ion. Benefits payable provided the risk cover under the Policy is in-force.
Examples
Let’s understand the product benefits better with a few illustrat ions.

Example 1:
Mr. Sharma aged 35 years purchased Max Life Flexi Wealth Advantage Plan (Wealth variant) with the details as below:
#
All premiums are payable at the beginning of year.

Premium Payment Policy Mode of Annualised Fund Cover

Term Term Payment Premium chosen Multiple
5 years 10 years Annual via ` 2,50,000 Balanced 10x
auto debit Fund Non ISNP source

~
Auto Debit #
Guranteed Loyalty
Booster (`) Addition (GLA) (`)

@4 ##% ` 7,500 @4 ##% ` 20,029

**Annualised Premium ` 2,50,000
Total Premium Paid ` 12,50,000 ` 26,323
@8 %##
` 7,500 @8 ##%

0 1 2 3 4 5 6 7 8 9 10

Premium Payment Term&&

&
Return of Charges
(RoC) (`)

@4 ##% ` 51,628
MR. SHARMA @8 ##% ` 48,417
Age: 35 Years

Maturity Benefit @4%##: ` 14,25,617

Maturity Benefit @8%##: ` 19,25,881

Scenario 1: Survival till maturity

At the end of 10 th Policy Year, Mr. Sharma gets the Maturity Benefit as given in the below table.

Maturity Benef it at end of Year 10 = Fund Value Base policy

At assumed rate of return of 4% ##
` 14,25,617
At assumed rate of return of 8% ##
` 19,25,881

##
Please note that the above assumed rates of return @4% and @8% p.a. respectively, for Balanced Fund, are only scenarios at these rates after
recovering all applicable charges. These are not guaranteed and they are not the upper or lower limits of returns of the Funds selected in your
Policy, as the performance of the Funds is dependent on a number of factors including future investment performance. For more information,
please request for your Policy specific benefit illustration. Benefits payable provided the risk cover under the Policy is in-force.

**Annualised premium means the premium amount payable in a year chosen by the policyholder, excluding the taxes, rider premium,
underwriting extra premium and loadings for modal premiums, if any

Scenario 2: Death at the end of 3 rd policy year

In case of death in 3 rd year (after payment of 3 Premiums, but just before payment of 4 th Premium), the death benefit paid will be calculated
as under:

Death Benefit is higher of:

1. Sum Assured – ` 25,00,000

2. 105% of all premiums paid – ` 7.87,500
3. Fund Value {as on the date of intimation of death}*: @8% - ` 7,55,534; @4% - ` 7,00,414

Death benef it of ` 25,00,000 is paid to the nominee.

*Expected Fund Value of Balanced Fund, the Fund Value denoted above in year 3 (Before payment of 4 th premium); this might be different
depending on exact date of death of Life Insured. Fund Value will be calculated as per the prevailing NAV as on the date of death.
Example 2:
Mr. Gupta aged 35 years purchased Max Life Flexi Wealth Advantage Plan (Whole Life variant) with the details as below:

Premium Payment Policy Mode of Annualised Fund Cover

Term Term Payment Premium chosen Multiple
5 years 65 years Annual via ` 1,50,000 Balanced 10x
auto debit Fund Non ISNP source

Total additions to the fund at the end of 65 th year

~
Auto Debit #
Guranteed Loyalty
Booster (`) Addition (GLA) (`)

@4 ##% ` 4,500 @4 ##% ` 9,84,127

**Annualised Premium ` 59,76,079
@8 ##% ` 4,500 @8 ##%
` 1,50,000
Total Premium Paid
` 7,50,000
0 1 2 3 4 5 6 7 8 9 10 15 65

Premium Payment Term&& &

Return of Charges
(RoC) (`)
MR. GUPTA
@4 ##% ` 61,556
Age: 35 Years
@8 ##% ` 28,556

Maturity Benefit @4%##: ` 51,89,900

Maturity Benefit @8%##: ` 56,436,942

Scenario 1:
Mr. Gupta survives the entire term and has celebrated his 100 th birthday the same year

**Annualised premium means the premium amount payable in a year chosen by the policyholder, excluding the taxes, rider premium,
underwriting extra premium and loadings for modal premiums, if any
&&
All premiums are payable at the beginning of year.
#
The Guaranteed Loyalty additions rate applicable from the 8 th Policy Year t ill 15 th Policy Year is 0.50% of fund value and that for 26 th
Policy Year unt il maturity is 0.75% of fund value.

Given below is a glimpse of Mr. Gupta’s growing fund value across the span of policy term at in interval of every five years
starting from the 10 th policy year

Policy Year Fund Value Fund Value Policy Year Fund Value Fund Value
@ 4% ## @ 8% ## @ 4% ## @ 8% ##
10 years ` 808,974 ` 1,109,441 40 years ` 2,238,310 ` 9,474,676
15 years ` 970,878 ` 1,590,616 45 years ` 2,648,305 ` 13,538,302
20 years ` 1,145,468 ` 2,272,820 50 years ` 3,133,399 ` 19,344,790
25 years ` 1,352,186 ` 3,247,618 55 years ` 3,707,349 ` 27,641,642
30 years ` 1,598,913 ` 4,640,500 60 years ` 4,386,430 ` 39,496,959
35 years ` 1,891,788 ` 6,630,779 65 years ` 5,189,900 ` 56,436,942

Please note that the above assumed rates of return @ 4% and 8% p.a. respectively, for Balanced Fund, are only scenarios at these rates after recovering all applicable charges.

These are not guaranteed and they are not the upper or lower limits of returns of the Funds selected in your Policy, as the performance of the Funds is dependent on a number

of factors including future investment performance. For more information, please request for your Policy specific benefit illustration. Benefits payable provided the risk cover

under the Policy is in-force.

Scenario 2:
Mr. Gupta unfortunately died at end of 40 th Policy Year (on attaining 75 years of age).
In case of death at end of 40 th year the death benefit paid will be calculated as under:
Death Benefit = Higher of (Sum Assured or 105% of all premiums paid or Fund Value)
where,
Sum Assured = 10 times annualised Premium
Sum Assured = 10 X 150,000 = ` 15,00,000
Plan at a glance
Criteria Specif icat ion
Product Type Unit Linked Non-Part icipat ing Individual Life Insurance Plan

Coverage All individuals in accordance with the Board Approved Underwrit ing Policy

Minimum Age of Life Wealth and Whole Life variant: 0 years (91 days)
Insured at Entry (Age The risk cover for base plan will start immediately on date of commencement of Policy for both minor and
as on last birthday) major lives. On attainment of majority, The policy will automat ically vest on the life insured, and the life
insured (minor) will become the policy holder, irrespective of whether WOP is chosen or not.

Maximum Age of Life The maximum age of Life Insured is defined below, basis the maximum Premium payment age being capped at
Insured at Entry (Age 65 years for limited / regular pay and 70 years for Single Pay.
as on last birthday) Wealth variant
Single pay:
Cover Multiple Maximum Entry Age
1.25 70 years
7 55 years
10 50 years
15 45 years

Limited / Regular pay: 60 years for all Cover Mult iples

Whole Life variant:

Cover Mult iple Maximum Entry Age
7 60 years
10 50 years
15 30 years

For WOP Benef it : The maximum age shall be 60 years

Minimum and Maximum Minimum maturity age

Maturity Age of the Life Wealth variant: 18 years
Insured (Age as on last Whole Life variant: 100 years
birthday) Maximum maturity age
Wealth variant:
Single Pay:
Cover Multiple Maximum Maturity Age
1.25 99 years
7 65 years
10 60 years
15 55 years

Limited Pay: 75 years for all Cover Multiples

Regular Pay: 65 years for all Cover Multiples
Whole Life variant:
100 years for all Cover Mult iples
Maximum Premium Payment Age is 65 years except in case of single pay where it is the same as maximum
entry age of 70 years.
For Waiver of Premium (WOP) benefit, policyholder entry age plus the chosen premium payment term shall be
less than or equal to 65 years.

Policy Term (PT) and Refer the below table for the available Premium Payment Term and Policy Term options available under the plan.
Premium Payment Term
Variant Premium Payment Premium Payment Policy Term
(PPT) options Term type Term

Wealth Single Pay 1 year 10 to 30 years

5 years 10 to 15 years
Limited Pay 6 years 10 to 16 years
7 years 10 to 17 years
8 years 10 to 18 years
9 years 10 to 19 years
10 to 19** years 11 to 20 years
Regular Pay 10 to 30^ years 10 to 30 years
Whole Life Limited Pay 5 to 20 100 - entry age
Plan at a glance
Criteria Specif icat ion
**Subject to Premium Payment Term being less than Policy Term.
^Subject to Premium Payment Term being equal to Policy Term.
For Waiver of Premium (WOP) benefit, the policy term of the WOP benefit shall be same as the premium payment term
of the base plan. In case the Life Insured is a minor as on the Date of Commencement of Risk, the term of the WOP benefit
shall be restricted to (18 less than age of the minor Life Insured at inception) years and upon vesting of the Policy on the
Life Insured, the WOP benefit shall cease to be in effect.

Premium Payment mode Single, Annual, Semi-Annual, Quarterly and Monthly

Cover Mult iple Cover Multiple will be as per your choice at Policy inception. The Sum Assured under the product is derived as
annualised / Single Premium times the Cover Multiple as chosen by you. The table given below depicts the available
Cover Multiples, basis the Premium Payment Term and entry age of Life Insured.

Plan Variant Premium Payment Entry Age Cover Mult iples

Term chosen available

Wealth Age <= 45 years 1.25, 7, 10 and 15

Age >=46 years and 1.25, 7 and 10
Single Pay Age <= 50 years
Age >=51 years and
1.25 and 7
Age <= 55 years
Age >=56 years 1.25

Limited / Regular pay All ages 7, 10 and 15

Age <= 30 years 7, 10 and 15
Age >=31 years and
Whole Life Limited pay 7 and 10
Age <= 50 years
Age >=51 years 7

Minimum Sum Assured The minimum Sum Assured will depend on the minimum annualised Premium as defined above. Basis the same,
the minimum Sum Assured under the product is as follows:
Wealth variant: Single Pay: ` 2.5 Lakhs | Limited Pay: ` 3.5 Lakhs | Regular Pay: ` 1.75 Lakhs
Whole Life variant: Limited Pay: ` 7 Lakhs
Maximum Sum Assured No limit, subject to the limits determined in accordance with the Board approved underwrit i ng Policy of the
company.

Riders and Optional Max Life Critical Illness and Disability Secure Rider (UIN: 104A034V01) # : This rider provides
Add On benef its benefit upon diagnosis of any of the 64 Critical Illnesses covered, and maybe opted at inception or
anyt i me during the Policy Term, by payment of a nominal addit i onal Premium.
Waiver of Premium Benefit (Optional at inception)&: This option ensures that, in case of unfortunate demise of the policyholder provided
the risk cover under the Policy is in-force, WOP has been chosen at inception and WOP cover is active on the date of death of the
policyholder, the Company will fund all future outstanding premiums of the base policy only (Not additional riders chosen) as and when
due under the policy, keeping all the promised benefits under the policy intact. No additional premium will be required to avail this benefit.
It will be deducted as a charge levied on every monthly anniversary by canceling units from the unit account during premium payment
term of the base policy.
#
Please refer to the Critical Illness and Disability Secure Rider Prospectus for details
&
Please refer sect i on “Waiver of Premium Benefit (WOP Benefit)” for details.

Top Up Not available in this plan

Policy loan Provisions Not available in this plan

Minimum Annualised For Channels other than Online channel:

Premium Wealth variant:
Single Pay: ` 2 Lakhs
Limited Pay: Regular Pay:
Annual Mode ` 50,000/- Annual Mode ` 25,000/-
Semi Annual mode ` 25,000/- Semi Annual mode ` 12,500/-
Quarterly mode ` 12,500/- Quarterly mode ` 6,250/-
Monthly mode ` 4,167/- Monthly mode ` 2,084/-

Whole Life variant (Only Limited Pay Applicable):

Annual Mode ` 1 Lakh
Semi Annual mode ` 50,000/-
Quarterly mode ` 25,000/-
Monthly mode ` 8,334/-

Online channel including any ISNP sale: Wealth variant: Single Pay – ` 2 Lakhs
Plan at a glance
Criteria Specif icat ion

Wealth Variant: Limited / Regular and Whole Life Variant:

Annual Mode ` 12,000/-
Semi Annual mode ` 6,000/-
Quarterly mode ` 3,000/-
Monthly mode ` 1,000/-
Annualised Premium means Premium amount payable in a Policy Year, excluding any Rider Premiums, underwriting
extra Premium on riders and applicable taxes, cesses or levies, if any. Single Premium is defined as the lump sum
premium payable at inception of the Policy excluding the taxes, rider Premiums and underwriting extra Premiums
on riders, if any.

Maximum Annualised No limit, subject to the limits determined in accordance with the Board approved underwriting Policy of the
Premium company.

Death Benef it Irrespective of whether Waiver of Premium Benefit is opted or not opted at inception:
On death of the Life Insured anytime during the term of the Policy, the nominee shall get higher of the following
benefits, given the Policy is in force:
Sum Assured (Reduced by applicable part ial withdrawals, if any), or

Single Pay It is equal to Cover multiple* X Single premium

Limited Pay & Regular Pay It is equal to Cover mult iple* X Annualised premium

*Cover multiple options may be checked from the section “Max Life Flexi Wealth Advantage Plan at a glance
• Fund value (As on date of intimat ion of death), or
• 105% of the Total Premiums received up to the date of death (Reduced by applicable partial
withdrawals, if any)
The Policy Terminates on the death of Life Insured.
Please note that the ‘applicable partial withdrawals’ mentioned above refers to all the partial made during the two years’ period immediately preceding the death
of the Life Insured.
Charges other than fund management charge, recovered subsequent to the date of death shall be added back to the fund value as available on the date of
intimation of death.

Smart Withdrawals will not be deducted under the partial withdrawals.

Further, if Waiver of Premium (WOP) Benef it is opted at inception and WOP cover is act ive on the date of death of
the policyholder:
On death of the policyholder subject to policy being inforce, the company shall fund all future outstanding Premiums of the base
Policy as and when due under the Policy and all committed Policy benefits shall continue as is.
Once the WOP benef it has been accepted under your Policy and future premium(s) are being funded by the Company, then subsequently
in case the life insured surrenders the base policy or dies, the company will pay the present value of the future premiums (if any) in addition
to the other payable base benefit (Surrender Value in case of surrender and Death Benefit in case of death of life insured). The present
value will be calculated at the discount rate of 6.00% p.a.

Maturity Benef it On maturity, you will be eligible to receive an amount, provided settlement option has not been exercised, equal
to the Fund Value as applicable on the date of maturity of the policy, where the Fund Value will be calculated as:
Fund Value = Summat ion of Number of Units in Fund(s) mult iplied by the respective NAV of the Fund(s) as
on the date of maturity.
Please Note: In case the Maturity Date is a non-working day for the markets then next working day’s NAV will be applicable.

Return of Charges You are eligible to get back the charges deducted under your policy basis the variant and premium amount opted by You,
(RoC) provided all due premiums have been paid.
i. Wealth Variant: RoC basis the charges deducted from inception till maturity will be paid on the date of maturity
ii. Whole Life Variant: RoC basis the charges deducted between incept ion and (PPT+10)th year will be
returned at end of (PPT+10th) year. Thereafter, the RoC basis the charges deducted during next f ive
years will be returned at the end of every 5 years or maturity, whichever is earlier

Premium Band Mortality Charge on Policy Administration Premium Allocation

death benefit Charge charge
Band 1 100% 0% 0%
Band 2 100% 50% 0%
Band 3 100% 100% 0%
Band 4 100% 100% 50%
Band 5 100% 100% 100%
Band 6 100% 100% 100%
Plan at a glance
Criteria Specif ication

Survival Benef it a. Guaranteed Loyalty Addit ions (GLAs)

You are eligible for Guaranteed Loyalty Addit ions (GLAs) under the product which differ according to the Premium band
opted by you.
These shall be added to your fund value start ing from the end of 8th Policy Year and at the end of each year thereafter
(i.e. f irst GLA shall be credited at the end of 8th Policy Year and second at the end of 9th Policy Year and so on).
GLA as a % of fund value for various premium bands as a percentage of fund value is as follows:

Wealth Variant

GLA as a % of Fund Value from end of

Premium Band
8 th policy year till maturity
Band 1 0.15%
Band 2 0.50%
Band 3 0.50%
Band 4 0.50%
Band 5 0.50%
Band 6 0.90%
Whole Life Variant

GLA as a % of fund value

Premium Band Applicable from end of 8 th policy year Applicable from end of PPT+11 th
till PPT+10 th year policy year till maturity

Band 1 Not Applicable Not Applicable

Band 2 0.50% 0.75%
Band 3 0.50% 0.75%
Band 4 0.50% 0.75%
Band 5 0.50% 0.75%
Band 6 0.90% 0.90%

Guaranteed loyalty additions percentage will be applied on the total fund value at the end of the respective Policy Year
(Before RoC are credited). The additional units shall be created in different funds in the same proportion as the fund value
on the date guaranteed loyalty additions are to be paid by the company.

b. Auto Debit Booster

If you pay any of your first five year Premiums (Excluding the 1st Premium) through auto-debit mode of payment, an extra
“auto-debit booster” amount of 0.75% of Premium will get added to your fund value at end of 5th Policy Year, provided all
due Premiums t ill date have been paid and the Policy is in-force.
• This feature is applicable for both wealth and Whole Life variants.
• The booster shall accrue from payment of second Premium onwards.

Freelook You have a period of fifteen (15) days (30 days in case of electronic policies and policies obtained through distance
marketing mode) from the date of receipt of the policy, to review the terms and conditions of the policy, where if you
disagree with any of those terms and conditions, you have the option to return the Policy stating the reasons for
objection.The Policyholder shall be entitled to refund of Premiums paid subject only to a deduct ion of proportionate
risk Premium for the period of cover and the expenses incurred by the insurer on medical examination of the proposer
and stamp duty charges.

Surrender At any time during the Policy Term, you have the right to surrender the policy by advising the company in writing.
The surrender benefit is equal to Fund Value less applicable Surrender / Discontinuance charges. Policy can be
Surrendered / Discontinued at any time but the Surrender / Discontinued value will be paid subjected to provision
of the Policy.
Please note, policy once Surrendered, cannot be revived. For further details refer to the prospectus available on
www.maxlifeinsurance.com

The product will be allowed for sale through offline and online modes.
Investment strategies
Under Flexi Wealth Advantage Plan, you have a range of 5 investment strategies to choose from. You may choose only one of
the five available investment strategies and there is no extra cost applicable for your choice made.
While one of these is a self-managed strategy which lets you choose any of the fund(s) in any proport ion and the other four are
automated strategies which let you have a hassle-free portfolio rebalancing based in a set and def ined manner.

Self-Managed Portfolio Strategy

A strategy wherein your money will be allocated in your choice of fund(s).

Systematic Transfer Plan (STP)

An option which replicates a rupee cost averaging method by systematically moving your money from a debt to equity fund every
month. The premium received net of charges shall be allocated first to Secure Plus Fund. Immediately thereafter and on each
subsequent monthly anniversary, units available in Secure Plus Fund will be
systemat ically transferred to Growth Super Fund based on the formula: [1 / (13 – month number in the policy year)].

Lifecycle Based Port folio Strategy

An opt ion to manage your funds by creat ing a balance between an equity and a debt fund of your choice through
systemat ic allocation based on your changing age.

Trigger Based Port folio Strategy

An event based strategy that helps you in ‘Securing your Gains’. The premium will init ially be distributed between an equity and a
debt fund chosen by you, in a 75%: 25% proport ion. Your portfolio will be re-balanced and funds will be re-allocated based on a
pre-def ined trigger event at every monthly anniversary of the policy.

Dynamic Fund Allocat ion (DFA) strategy

A standardized approach for striking the right balance between debt and equity by rebalancing your portfolio basis years to maturity
remaining in your policy. The funds shall be maintained amongst Growth Super Fund and Secure Fund in a pre-def ined proport ion
that changes depending upon the years left to maturity as per a matrix.

Charges:

1. Premium Allocat ion The premium allocation charge is levied as a % of each premium paid. The rate of premium allocation charge for
Charge different variants is as follows:
• Single Pay: 5% of Single Premium
• Limited Pay and Regular Pay: The premium allocat ion charges are as follows:

• Annual Mode

Policy Year Band 1 Band 2 Band 3 Band 4 Band 5 Band 6

1 12.00% 12.00% 12.00% 12.00% 9.00% 8.00%

2 9.00% 9.00% 9.00% 9.00% 8.00% 7.00%
3 5.00% 5.00% 5.00% 5.00% 5.00% 5.00%
4 5.00% 5.00% 5.00% 5.00% 5.00% 5.00%
5 4.25% 4.25% 4.25% 4.25% 4.00% 4.00%
6+ 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
 • Non - annual Mode

Policy Year Band 1 Band 2 Band 3 Band 4 Band 5 Band 6

1 10.0% 10.0% 10.0% 10.0% 7.0% 7.0%

2 7.5% 7.5% 7.5% 7.5% 7.0% 6.0%
3 5.0% 5.0% 5.0% 5.0% 4.0% 4.0%
4 4.0% 4.0% 4.0% 4.0% 4.0% 4.0%
5 4.0% 4.0% 4.0% 4.0% 4.0% 4.0%
6+ 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%

A discount of 3% (absolute) on premium allocat ion charges shall be applicable for the first five years if the policy
is purchased via online channel or Insurance Self Network Platform (ISNP).

2. Policy Administration The Policy administrat ion charge (As a percentage of Annualized / Single Premium) will be deducted
Charge (all years) between year 6 and year 10 and will be capped at ` 500 per month.

Premium Bands Band 1, 2 Band 3, 4 Band 5, 6

Wealth Variant – Single Pay 1.2% 1.2% 0.6%

Wealth Variant – Limited 4.80% 2.40% 0.6%

Pay and Regular Pay

Whole Life variant 4.80% 2.40% 0.6%

The Policy administrat ion charge will inflate by 5% per annum from 73rd month onwards. From year 11 onwards,
Policy administrat ion charge is equal to zero for all policies.

3. Fund Management This is a charge levied as a percentage of the value of assets and shall be appropriated, usually daily, by adjust
Charge ing the Net Asset Value of the Fund. The rate to be levied will be equal to the annual rate, as given below,
divided by 365 and multiplied by the number of days that have elapsed since the previous unit valuation date.
The charges specif ied below are guaranteed and shall not change during the Policy lifet ime. The annual rate
of Fund Management Charge is as below.

Fund Management Charge (% of Fund Value)

Fund Name SFIN Fund Management Charge (p.a.)

Money Market II Fund ULIF02301/01/20LIFEMONMK2104 0.90%

Secure Plus Fund ULIF01628/04/09LIFESECPLS104 0.90%
Secure Fund ULIF00425/06/04LIFESECURE104 0.90%
Dynamic Bond Fund ULIF02401/01/20LIFEDYNBOF104 0.90%
Conservat ive Fund ULIF00325/06/04LIFECONSER104 0.90%
Balanced Fund ULIF00225/06/04LIFEBALANC104 1.10%
Growth Fund ULIF00125/06/04LIFEGROWTH104 1.25%
Growth Super Fund ULIF01108/02/07LIFEGRWSUP104 1.25%
Diversif ied Equity Fund ULIF02201/01/20LIFEDIVEQF104 1.25%
High Growth Fund ULIF01311/02/08LIFEHIGHGR104 1.25%
Sustainable Equity Fund ULIF02505/10/21SUSTAINEQU104 1.25%
Pure Growth Fund ULIF02630/12/22PUREGROWTH104 1.25%
Discont inuance Policy Fund ULIF002021/06/13LIFEDISCON104 0.50%
4. Mortality Charge The mortality charge on death benefit will be levied basis ‘Sum at Risk’ on every monthly anniversary by
on Death Benef it canceling units from the unit account start ing from the date of commencement of Policy. The mortality
charge on death benefit will be on an attained age of the Life Insured basis over the durat ion of the contract.
The charge is per ` 1,000 of Sum at Risk and will depend on the gender and attained age of the Life Insured.

Sum at Risk (SAR) for the death benef it is def ined as follows:
Max (Max (Sum Assured, 105% of all premiums paid) less applicable partial withdrawals –
Total Fund Value, 0) Charge per ` 1,000 of Sum at Risk

Attained Age Age 25 Age 35 Age 45 Age 55

Male 0.84 1.08 2.32 6.76

Female 0.84 0.94 1.77 5.00

Sample rates are provided for your reference. Please visit our website or ask your f inancial advisor for the rates
applicable to you. Mortality charges are guaranteed throughout the Policy Term.

Sum at Risk (SAR) for the product during the settlement period is defined as follows:
Max (105% of Total premiums paid – Total Fund Value, 0)
Please note that the ‘applicable partial withdrawals’ mentioned above refers to all the partial withdrawals (except
smart withdrawals) made during the two years’ period immediately preceding the date of calculation of sum at risk.

5. Mortality Charge The mortality charge on WOP benefit will be levied, if Max Life Waiver of Premium benef it has been opted
on Max Life Waiver at incept ion, basis ‘Sum at Risk’ on every monthly anniversary by canceling units from the unit account. The
of Premium (WOP) charge will be on an attained age of the Policyholder and will be deducted during Premium Payment Term of
benef it the base policy. It shall stop once Max Life Waiver of Premium benef it has been triggered.
Sum at Risk (SAR) for the WOP benefit is defined as follows:
Present value of future ‘Waiver of Premiums’ benefit payable. Please note the present value of these benef its
will be calculated at a discount rate of 6.00% p.a.

6. Surrender / The surrender / discontinuance charges are expressed as the lower of (X% of Annualised Premium, X% of
Discont inuance Fund Value, ‘Y’ fixed rupee amount) where X and Y vary according to the year of premium discontinuance /
Charge surrender.

Single Premium Policies

The table below gives the factors used in calculat ion the surrender / discont inuance charge:

Discont inuance Charges for the policies having Single premium

Where the policy is

discont inued during Up to ` 3 Lakhs are lower of Above ` 3 Lakhs are lower of
the policy year

Lower of (% of Fixed Lower of (% of Fixed

annualised premium amount annualised premium amount
or % of Fund Value) (in `) or % of Fund Value) (in `)

1 2% 3,000 1% 6,000
2 1.5% 2,000 0.7% 5,000
3 1% 1,500 0.5% 4,000
4 0.5% 1,000 0.35% 2,000
5 and onwards Nil Nil Nil Nil

For example: If the Single Premium is ` 2 Lakhs and the Fund Value at the end of the first year is 2,10,000, then the
Surrender / Discontinuance Penalty will be the lower of (2% of 2,00,000, 2% of 2,10,000, 3,000) which works out to
be ` 3,000.
 Limited / Regular Premium Policies

Discont inuance Charges for the policies having Annualized Premium

When the policy is

discont inued during Up to ` 50,000/- are lower of Above ` 50,000/- are lower of
the policy year

Lower of (% of Fixed Lower of (% of Fixed

annualised premium amount annualised premium amount
or % of Fund Value) (in `) or % of Fund Value) (in `)

1 20% 3,000 6% 6,000

2 15% 2,000 4% 5,000
3 10% 1,500 3% 4,000
4 5% 1,000 2% 2,000
5 and onwards Nil Nil Nil Nil

For example: If the Annualised Premium is ` 2 Lakhs and the fund value at the end of the first year is
` 2,40,000, then the discontinuance charge will be the lower of (6% of 2,00,000, 6% of 2,40,000, 6,000) which works
out to be ` 6,000.

7. Switch Charge All switches will be free of charge.

8. Premium There is no charge for premium redirect ion. Unlimited premium redirections are allowed in any Policy Year.
Redirect ion Charge

9. Partial Withdrawal Part ial withdrawals are free of any charge. A maximum of twelve (12) part ial withdrawals are allowed in any
Charge Policy Year.

10. Smart Smart withdrawals are free of any charge.

Withdrawal Charge

11. Miscellaneous There are no miscellaneous charges.

Charges

12. Alteration No charge is applicable for any alterat ion in Sum Assured, Premium Payment Term or Policy Term.
Charges
However, please note:
• All applicable taxes, cesses and levies as imposed by the Government from t ime to t ime will be levied
on all charges as per the prevailing laws
• Any further taxes and cess shall be passed on to you

Additional benef its under this plan

Max Life Waiver of This benefit will be available for choice only at inception, for limited and regular pay policies, when policyholder and life
P r e m i u m B e n e fi t insured are different individuals. If opted for, on death of the policyholder provided the risk cover under the Policy is
(WOP Benefit) in-force and Waiver of Premium cover is active on the date of death of the Policyholder, the Company will fund all future
outstanding premiums of the base Policy as and when due under the Policy. All future benefits under the Policy shall be
paid to the Claimant, as and when due, as if the Policyholder was alive and had paid the Premiums to us.

WOP benefit will be available for choice only at inception, for limited and regular pay policies and when policyholder and
life insured are different individuals.

a Min Entry age for Life assured is 0 years (91 days) and Max Entry age is 13 years
b Policyholder entry age plus the chosen premium payment term should be less than or equal to 65 years
c Premium payment term of the base plan
In case the Life Insured is a minor as on the Date of Commencement of Risk, the term of the
d
WOP benef it shall be restricted to (18 less than age of the minor Life Insured at inception) years
 Smart Withdrawals You can avail this feature, if you choose the whole life variant, to systemat ically withdraw money from your fund value and
plan a secondary income as per your need, if all due premiums under your Policy have been paid. you can choose to
withdraw a pre-determined percentage of the fund value from your funds regularly.
In any particular year, the amount of smart withdrawal equal to the chosen percentage of the fund, shall happen only if
the fund value is greater than or equal to Minimum Death Benef it. The Minimum Death Benef it is def ined as higher of
sum assured and 105% of total premiums paid.

Switch There is no limit on number of switches done in a policy year i.e., you may switch any number of t imes without any
charges being levied.
You may switch between available Funds at any time during the Policy Term, subject to a minimum Switch amount
of ` 5,000.
You shall not be allowed to exercise this opt ion during the period of discont inuance in first five years of the policy.
Switches will be allowed during the settlement period.

Premium There is no limit on number of premium redirect ions done in a Policy Year without any charges being levied.
Redirect ion You may redirect your future premiums between available Funds at any time by giving us a written notice before the
premium due date. You will need to not ify the Company of the amount / proportion of premium to be paid into each fund
at the time of redirection.

Partial Withdrawal You can make part ial withdrawals which will be affected by cancelling units subject to the following condit ions:

Applicable for both Wealth variant and Whole Life variant:

i. No part ial withdrawals are allowed in the f irst f ive Policy Years and thereafter a maximum of twelve
(12) part ial withdrawals are allowed in any policy year
ii. The minimum amount of partial withdrawal allowed per transaction is ` 5,000

Increase or decrease An Increase or decrease is allowed in the Premium Payment Term under this plan subject to the following:
in Premium Payment • This feature is not applicable for single pay premium payment opt ion
Term • This will be allowed after complet ion of lock-in period, by notifying the company, provided
all due premiums have been paid, subject to the Premium Payment Term options available
under the variant chosen by you basis the boundary condit ions applicable at incept ion

Increase in An Increase in the Policy Term is allowed under this plan subject to the following:
Policy Term • This feature is not applicable for single pay premium payment opt ion and Whole Life Variant
• This will be allowed, af ter complet ion of lock-in period, by notifying the company,
provided all due premiums have been paid, subject to the policy term opt ions available
under the variant chosen by you

Decrease in Sum You can choose a lower cover mult iple as per the choices available at your entry age, provided you
Assured have completed at least 1 Policy Year and all due premiums of f irst Policy Year have been paid.
There will be no change in the premium payable due to the change in the cover mult iple.

Settlement Opt ion You may opt for a settlement option; in which case the policy will continue after the maturity date for a period not
exceeding 5 years from the maturity date.
The settlement option, if opted by you, shall entitle you to receive periodical payments of unit Fund Value, by cancellation
of Units at their prevailing NAV. The first instalment will be paid out on the Date of Maturity.
Units payable under each instalment will be equal to:
Number of units before payment of installment / Number of remaining installments

Premium Reduct ion After complet ion of first five Policy Years, you have an opt ion to decrease the premium up to 50% your original
Annualized Premium, subject to the minimum premium limit, provided all due premiums have been paid.

For further details, please refer to the prospectus.

 We are committed to f inancially protect
you and your loved ones, because for them

YOU ARE THE DIFFERENCE

*
`
A S S E TS U N D E R
MANAGEMENT
WINNING TRUST
EVERYDAY

^Individual Death Claims Paid Ratio as per IRDAI Annual Report 2021-22. *As per Public Disclosures 2022.
LIFE INSURANCE COVERAGE IS AVAILABLE IN THIS PRODUCT.
The Unit Linked Insurance Products do not offer any liquidity during the first five years of the contract. The policyholder will not be able to surrender / withdraw the monies invested
in Unit Linked Insurance Products completely or partially till the end of the fifth year.
The premium shall be adjusted on the due date even if it has been received in advance.
Max Life Insurance Company Limited is only the name of the insurance company and Max Life Insurance Flexi Wealth Advantage Plan | Unit Linked Non-Part icipat ing Individual Life
Insurance Plan (UIN: 104L121V01) is only the name of the unit linked insurance contract and does not in any way indicate the quality of the contract, its future prospects or returns.
Applicable taxes, cesses and levies as imposed by the government from t ime to t ime will be deducted from the premiums received or from the funds, as applicable. Unit Linked Insurance
Products (ULIPs) are different from the tradit ional insurance products and are subject to the risk factors. Please know the associated risks and the applicable charges from your Insurance
agent or the Intermediary or policy document issued by the insurance company. The various funds offered under this contract are the names of the funds and do not in any way indicate
the quality of these funds, their future prospects or returns. Past performance is not necessarily indicat ive of future performance.
#
Guaranteed Loyalty Additions: These shall be added to your fund value start ing from the end of 8 th policy year and at the end of each year thereafter. GLA as a % of fund value for various
premium bands as a percentage of fund value are as ment ioned in the prospectus. Please refer the prospectus for further details.
~
Auto Debit Boosters: Auto debit booster amount of 0.75% of premium will get added to your fund value at end of 5 th policy year, provided all due premiums t ill date have been paid and
the policy is in-force.
&
Return of Charges Wealth Variant: RoC basis the charges deducted from incept ion t ill maturity will be paid on the date of maturity. For details, please refer to the prospectus.
&
Return of Charges Whole Life Variant: RoC basis the charges deducted between incept ion and (PPT+10 th ) year will be returned at end of (PPT+10 th ) year. Thereafter, the RoC basis the
charges deducted during next f ive years will be returned at the end of every 5 years or maturity, whichever is earlier. For details, please refer to the prospectus.
##
Please note that the above assumed rates of return @ 4% and 8% p.a. respect ively, for Balanced Fund, are only scenarios at these rates after recovering all applicable charges. These are
not guaranteed and they are not the upper or lower limits of returns of the Funds selected in your policy, as the performance of the Funds is dependent on a number of factors including
future investment performance. For more informat ion, please request for your policy specif ic benef it illustrat ion. Benefits payable provided the risk cover under the Policy is in-force.
**
Annualised Premium means premium amount payable in a Policy Year, excluding any Rider Premiums, underwriting extra Premiums on riders and applicable taxes, cesses or levies, if any.
^^
Net Yield @8% mentioned corresponds to the gross investment return @8%, net of all charges but does not consider mortality, morbidity charges, underwrit ing extra, if any, guarantee
charges and cost of riders, if deducted by cancellat ion of units. It demonstrates the impact of charges exclusive of taxes on the net yield.
You may be ent itled to certain applicable tax benef its on your premiums and policy benef its. Please note all the tax benef its are subject to tax laws prevailing at the t ime of payment of
premium or receipt of benef its by you. Tax benef its are subject to changes in tax laws.
Max Life Insurance Company Limited is a joint venture between Max Financial Services Limited and Axis Bank Ltd. Max Life Insurance Co. Ltd., Corporate Of f ice: 11 th Floor, DLF Square
Building, Jacaranda Marg, DLF City Phase II, Gurugram - 122 002 (Haryana). Insurance is the subject matter of solicitat ion. For more details on the risk factors, Terms and Condit ions, please
read the prospectus carefully before concluding a sale. Trade logos displayed belongs to Max Financial Services Ltd. and A x i s B a n k L t d . r e s p e c t i v e l y a n d w i t h t h e i r c o n s e n t s , a r e
used by Max Life Insurance Co. Ltd. Customer Helpline Number: 1860 120 5577.
Website: www.maxlifeinsurance.com, SMS 'LIFE' to 5616188.
Axis Bank Limited is a Co-promoter and a Corporate Agent of Max Life Insurance Co. Ltd. Axis Bank Limited, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai -
400 025. The purchase of a Max Life Insurance product(s) by Axis Bank's customer is purely on a voluntary basis. As Axis Bank is not in the business of insurance, there is no link either
direct or indirect between the banking services offered by the bank to its customers anduse of the insurance products.

ARN: Max Life/FCB/Channel Marketing/Axis Bank/Flexi Wealth Advantage Plan/Leaflet/February 2023 IRDAI Certificate Regn. No. CA0069 | IRDAI Regn. No. 104

BEWARE OF SPURIOUS / FRAUD PHONE CALLS!

• IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums
• Public receiving such phone calls are requested to lodge a police complaint