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Max Axis Fast Trak Supper Updated

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0% found this document useful (0 votes)
39 views4 pages

Max Axis Fast Trak Supper Updated

Uploaded by

satishbhatt
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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puatuneanMerpery LIFE INSURANCE COVERAGE IS AVAILABLE IN THIS PRODUCT. THIS LIFE INSURANCE PRODUCT IS Inidultfe nuance an OFFERED AND UNDERWRITTEN BY MAX LIFE INSURANCE CO. LTD. IN: 1041082V04 A plan which helps you achieve your goals by providing you with multiple investment options WHAT THIS PLAN OFFERS YOU Growth For Your Fund This plan offers you an opportunity to grow your Fund to meet your goals ‘Options Of Premium Payment Term And Policy Term To Cater To Your Need ‘Choose Single Pay or 5 Pay for 10 years Policy Term or Regular Pay for 20 years Policy Term as per your need Financial Security For Your Family The plan offers a Maturity Value equal to Fund Value, Death Benefit equal to higher of (Fund Value, Sum Assured, 105% of all Premiums Paid) and also provides Partial Withdrawal Flexibility Investment Flexibility To Choose From 6 Fund Options The plan offers you 6 Fund Options that you can choose from, basis your risk appetite BE) | Sstesuarcing Your Fund Againet Market Voiatiitios With Syetomatie Transfer Plan And Dynamic Fund Allocation Choose from the 2 investment strategies to protect your Fund against market volatilities BE SURE YOU KNOW Unit Linked insurance Plan is2 | -—-We Invest net premium (after deducting { Fund Value may rise, fallor remain longterm Lifinsurance cum ||| applicable charge) pald by you Furde unchanged, depending on market Investment Planandis subject to { ofyourchoice. Fund choices may vary movement and the Func(l performance. market isks. We do not provide | from Debt (ow rsh), Balanced Please choose Fundls).as per Sny guarantee of returns 1 medium rise) and Equity (high ris your isk sppetite, CHOOSE YOUR PLAN IN THREE SIMPLESTEPS. Creer POON Crea ea cre APPETITE em Crna PLEASE NOTE: UNIT LNKED INSURANCE FRODUCTS DONOT OFFER ANY LIQUDDTY DURING THE FIRST FIVEYEARS OF THE CONTRACT. THE POLICWHOLDERWALLINOT BE /ABLETO WITHDRAW THE MONEYINVESTED IN LINKED INSURANCE PRODUCTS COMPLETELY ORPARTIALLYTILLT HEEND OF THE TH YEAR. ALL APPUCABLETAXES, CESSES ‘AND LEVIES AS IMPOSED BY THE COVERNMENT WILL BE DEDUCTED FROM THEPREMIUM RECEIVED, AXIS BANK INSURANCE & A Max Financial Services and @ MS Joint Venture PLAN FEATURES Product TYPE ‘AUnit Linked Non Participating incividual Life insurance Plan Coverage ‘All individuals in accordance with Board approved underwriting policy ofthe Company. ‘Age at Entry Minimum: 94 days (Age as on Last Birthday) SinslePay /5 ay Regular Pav 50 ee Earn | ARSE Noximun Toye Premium Payment Term | Single Pay /5 yeers(5 Pay)/ 20 years Reguler Pay), Policy Term ID years for Single Pay /9 Fay andZ0 years for Regular Pay Premium Payment Mode | Annual, Semi-Annual. Quarterly & Morthiy Minimure Annualsed Sinsle Pay ¥1,00000, Premium 3 Pay 50,000) Regular Pay | _€25,000 ‘antrum Annalised | ~Ne Wan, subject To Underwriting Premium Maturity Benefit Fund Value as on Date of Maturity, provided Seitlement Option has not been exerced, Please Note: In case the Maturity Date fs anon - working day for the Company or markets then next working day's NAV ull be applicable Fixed Sum Aswured Single Par Zs tmnes he Shale Premium Pay 40 times the Annuelised Premium Regular Pay, 410 timesthe Annuelised Premium Minimums Ped Sum Single Pay 1:25.00 Assured Pay 5,000, Regular Pay | €250000, Manimum Fixed Sun ‘No limit, subject to underwriting Assured Desth Benest {On Death ofthe Life Insured higher of Sum Assured or FundValue (es on the Date of Death, subject to. minimum of 105% {provides policy's nforcs) | of total premiums receivedup te the date of death shal be payable, Settlement option will not be provided for ceath beneht payout Guaranteed Loyalty (03036 of Fund Value shall be added to the Fundby creation of adeltional units, at the end of every polly year stating Fron Adeitions AMth policy year. The Loyalty Additions increase by 0.02% (absolute] each year thereatter. The additonal units shall be created in different funds in proportion of Fund Value at the tte of credit. Loyalty Additions willbe pavable only on Regular Pay for premium paying policies Incase of revival of pli Value prevailing t the revival date. Policies, for which premium reduction option hae been apted for will azobe eligible for Guaranteed Loyalty Adeltions ‘Systematic Transfer Plan_| Systematic Transfer Plan helps you replicate a Rupee costaveraging method on your Annualised Premium. tis available with ‘Single Pay and Annual Premium Payment Mode in 5 Pay and Regular Pay. Under Systematic Transfer Plan option, the ‘Annualised / Single Premium received net of Premium Allocation Charge shall bealocated hrstto the Secure Plis Fund to purchase Units. Inmediately thereafter and on each subsequent monthly anniversary, Fund Value of [1 /(13 -month number inthe poliey yea] ofthe Units available atthe beginning of the month shallbe Switched to Growth Super Fund automatically by cancelling Units in the Secure Plus Fund, and purchasing Units in the Growth Super Fund ‘Dynamic Fund Alozation | Dynamic Fund Alocation option s an investment strategy which nearly part of your Pony Term invests mn equity oriented funes and as your Poliey Term progresses it shifts the fund allocation towards more conservative funds. You canopt for Dynamic Fund Allocation option only at the inception of policy. Under this option, Assets Under Management stall be maintained amongst Growth Super Funé and Secure Fundin a pre- defined proportion that changes depending upon the vyears left tomaturity Setilement Option "You may, at leest 45 days priar te the Maturity Date, op for # Setilemant Option, pursuant to which the Company wil continue to manage te Funds for you fora maximum periog of years from the Maturity Date and make periodic payments. uring the settlement period, Fund Manegement Charges shall continue to be levied Theve shall bea tsk cover equal (0 105% ofthe total pprerlums pale and mortalty charges wil be deducted tasis the sum atrisk, You may exercise switch eption during settlement. Surrender ‘Where the product acquires a surrender value curing the rst fve years, on receipt of intimation that you wish to surrender the policy during the frst fiveyears, the fund value including top-up fund value, it any. after deduction of applicable discontinuance charge, shall be transferred tothe discontinuee policy turd. The surrender value equivalent tothe Discontinued Policy Fund Value shall become payable only after the completion ofthe ork-in- period, On surrender, after the leck-in period the surrender value shall beat least equal to the fund value as on the date of surrender. (Grace Period In cate the prerikim i nt paid by the premium due date, Grace Period of 30days (15 daye for monthly med) em the due date of frst unpaid premium will be allowed. During thie Grace Period, the risk cover wil continue and ll charges under te policy willcontinue to apply Free Look Period ‘Youhavea period of 15 days (30 davs ifthe policy is acauired through distance marketing) from the date of receiot of the Policy toreview the Terms and Conditions of the Policy and where you disagree to anyof those Terms and Conditions, you have the option to return the Policy stating the reszons for your objections, upon which rou shal be entitled toanamount ‘which will be equal to non -alocated premium plus cnarges levied by cancellation of units plus Fund Valueat the date of ‘cancellation, less charges deducted towards mortality anc Rider Benefit including all applicable tates, cesses and levies a Imposed by the Government on these charges) forthe period of cover, expenses incurred on medical examination if any and ‘on account of stamp duty ‘Option to reduce premium] The polcyholcer has en option to Gectease the premium upto 30% oF the Original Annwalised Premium subject to He minimum post locks premium limit, only once post the end of Sear lockcin period, Formore etalon tig tion and various ters and cenltlons please refer the Prospectus avalable on wwawimaifenairance om “Annualised Premlum re2nsPremiun amount payablein aPoley Yet excludhg any Rider Prenlums, uncerwrtirg extra premium on riders and aplcable taxes, cesses ILLUSTRATION Let'sloakat some examples - Below mentioned benefis are assumed fora Standard Life. Male. ‘Ageof ife Insured (years) 35, 35; 35 Premium Payment Term (year) 1 5 20. Polley Term years) 10 40 20 ‘Annualised Premium 1.500000. $75,000, 20,000 Maturity Value (@455) E41 71107 3386734 3998765, Maturity Vatue(@8%)" 2.59651 $594657 €1573007 Premium Payment Mode Annual Stand LiteFund’hosen Balanced Fund ‘Peasenote that the abave assuned rates of return, 4% and 8% ate enl sterar‘osat theseratesafterrecoveringallagplicablecharges. These ae not guaranteed and theyarenot the upper ower mits of returns cf the Funds selected In your policy, ste performance ofthe Funds dependent ona number of factors including, future investment erfermance For more nformeaton please request for your poicy specticbenet tustration. CHARGE STRUCTURE Premium Allocaticn cone Pelley Year Single Pay 5 Pay Regular Poy 1 a a a 2-5 Not Apoliable 3% 2% 40 Not Appiable | Not Applicable 26 2. ‘Not Apoiabie | Not Appicabe oe Fund ‘Thisisa chargelevied as apercentage ofthe value of assets and shal be appropriated, usually dally. by adjusting the Net Asset Value ofthe Sartenmete Fund, The rate tobe levied willbe equal othe anrwal ate, s ven above diicedby 9¢5 and miltpledby the number of day: thathave ‘lapse since the previusuritvalualon date The annual rteof Fund Management Charges as below Charme Highrowen Fura (SFIN-ULIFOISI1/G2/084IFEHIGHGRI09) us ues Growth Super Fund r (SEIN; ULIFOL106/02/07LIFEGRWSU?104) 135% He ‘Growth Fund (SFIN: ULIFO0125/06/04LIFEGROWTH100) tees) Het Balanced Fund (SFIN: ULIF00225/06/04LIFEBALANC104) mS eet Conservative Fund (SFINULIF00325/06/04LIFECONSER04) oe 2a Secure Fund {SFIN; ULIFOD425/06/01LIFESECURELOA) ee a Secure Pus Fund {Grin UUFOLsze/04/OrLIFESECRLS108) 090% Low ‘only available with Sytemstic Transfer Plan Discontinuance Polcy Fund (SFIN: ULiFO2021/04/12/LIFEOScoNs04) ‘only available in ce of poly dicontinuancoin re Le Firsts policy Years Policy “This sa charge expressed asa percentage of premlunis pal for all varianls and ls levied at each monthly anniversary by ‘Avteistraion canceling proportionate Units starting fron the date of commencerrent of policy Charge Pn ROM ee Single Pay ‘05% pm compounding at 3% pa. trem 2*year onvaidsuptoa maximum of € 200per ‘marth SPavand Rear Pay-Anmwalmede | 033% am cambounding a 46ea.rem 2venrnwardsuptoa naxinun of €500 rer mont 1 Pay and Regular Poy-Nen-Arnunlmodes | 0.2436 pm compounding a iG param 2~year onwavdsuptoe madimum af €500 per ‘month’ Wwortaiiny ‘Mortality charge i levied for providing risk cover to Wve Life insured during the Folly Term, On each monthly anniversary, Charge ‘appropriate number of Units are cancelled from the Unit Account at their Unit Price starting from the date of commencement cof the policy. um at Risk = Maximum [Maximum (Sum Assured, 105% of Total Premiums Paid) - Fund Value, C} ‘Age (years) o fs fv [alo fas Jo [as [0 Mortattty charge [€) | Gare teopsenacrun) | 448 | 059 | 074 | ase | 106 | 120 | x00 | 207 | 49s eam This charge shal be levied on the Fund Value atthe Une of Dlocontinuance of Policy or effecting Complete Withdrawal Discontinuance (Surrender) whichaver is earlier 3¢ por the following tab ‘chats Ea ee Wierthepeyiaicantwes | axiom Dicortinuarce Charge oe polis Mavimam conan Cates he polis ‘srepns mieryor Hung sneataed premium ae so so0e hum snes premium ve 00" 1 ierl 206" APF sibetioamatimot £3000] Lave’ el@X” APor Pi) sbecttoamasieuno O00 2 Tani Ae i bichon racinnot 2900 | Lawei ol [APR mbcio moun 2000 3 oral 108" AP orFsiblctioamatinamel€ 1500 | Lave’ of3K" (APP sibetioamanieun 4000 2 Tver 28 AP orTVinietoaraimamat C3600 Tero 2" AP or abet naar € 2000. Sinectteree, | TeTSRense eee setae erm eit tame | eae mea cea charge i Tare 2 SPO le oateof {SUR | Let ier Pico nat zi Tet 50 Pa Vsaie desi 2007 Ue olan saa ESO 3 Tar 1S le Toa neo OnE | aw OOS Rr PManieiea meta! - Tesora Fase anes 47 Ge Gr eosin omnbaie SO =e cI 7m ‘AP - Annwalsed Premium; SP Single Premium FV - Fund Value ‘Switch Charge ‘A maximum of 12 Switches are alowed in any policy yeor onda Period. tree of eny charge. Switching maybe allowed during settlement ‘Armavinum of 6 Premiars Redirection: ave allowe Partial withdrawal All applicable taxes, cesses and levies as imposed by the Government wll apply anal charges as per the pre ‘nto viePolcyhoier aglaw, Ary further taxes orl cess sallbe passed LUFE INSURANCE COVERAGE IS AVAILABLE IN THIS PRODUCT. ‘THIS LIFE INSURANCE PRODUCT IS OFFERED AND UNDERWRITTEN BY MAXLIFE INSURANCE CO. LTD. ‘THE LIFEINSURANCE CONTRACTS BETWEEN THE PROPOSER AND MAX LIFE INSURANCE. Max Life Insurance Company Linltedisa Joint Venturebetween Max Financia Services Ltd. and Mitsul Sunitomo Insurance Co, td. Max Life Insurance Co.Ltd, 41" Floor, DLF Square Building, acaranéa Marg, DLF Cty Phase!l,Gurugram(Haryara)-122002, Unit Linked Insurance Procucts are diferent trom the traditional Insurance products and are subjec to the rk Taetors. The Premium paid in Unit Linkec Insurance Policies ace subject to Investment risks associated with capital ‘atkets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital marKetand the Pelieyholéer/ Insured is Fesponsiblefor his her cecistons. Wax Lie Insurance Company Limited sony the name ofthe Insurance Company and MAX LIFE FAST TRACK SUPER is only the name of A Non- Participating Unit Linked Life Insurance contract and does not inany way indicate the quality ofthe contract, itsfuture prospects or returns. Please KNOW the associated risks and the applicable charges from your Insurance agent or the intermediary or policy dacument ofthe Insure. The various funes offered under this contractare thenames of the funds and donet in any way inicate the cuality of these funds, their future prospects ard returns. For nore details on isk factors, Termsard Conditions please read prospectus carefully before conchiding a sale Past performance ofthe funds dees net indicate the future performance af the funds You may beerttied to certain applicable tax benehts on your premiums and poly benefits. Pease ncteallthe tax beneftsaresubjec to tax avs prevaling atthe time of payment of premium or receipt of benefits by you. laxbenefits are subject to changes in ta laws. Trade logos displayed belong to Max Financial Services Lia. and Mitsui Sumitomo insurance Co, Lt. respectively and are used by MaxLife Insurance Co. ta under 2 license. Insurance| the subject matter of solicitation. Axls Bank Lt Inthe Corporate Agent of Max Life Insurance Co,Ltd, Axis Bank Limited, Bombay Dyeing Mills Compound, Pandurang Budbkar Marg, Worl, Mumbal- 400025.The purchase ofa Max Life insurance product by Axl Bank's customer Ispurely en a voluntary bass. As AxisBankis not inthe Business of Insurance, there sme lnk either divect ‘orindrect between the banking services offered bythe bank tts customers ané we of thelnurance products. ARN: Max LiteJAURAA/AxisFast Track Super/Leafet/Neverber 2019, ROAI Certificate Reristration No.CA0059 | IRDAIRegstration No. 108 ‘BEWARE OF SPURIOUS (FRAUD PHONECALLSI “IEDM! is rot evolved in aes ike alin insurance pels, crncuncing bons or hvesnent ol pomiuns. ‘hub recivng sich phone calls ae requested o lodge a pole complain ‘CUSTOMER HEDINENO, 1860-120.5577

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