Max Life Smart Term Plan

UIN No. – 104N113V01

Non Linked Non-Participating Life Insurance Plan
Policy/Proposal No: Date of Illustration:22/08/2019

This illustration is generated for Mr Nanduru, aged 59 years where he wants to insure himself.
Residential state of Mr Nanduru is Andhra Pradesh and Seller official’s Max Life Registered State is Andhra Pradesh.

Your Base Policy Details

Life Cover + Increasing

Annualized Premium `1,27,501.59 Death Benefit Variant
Income

First year Premium Payable Annually

`1,27,501.59 Lumpsum Life Cover `50,00,000.00
(Exclusive of GST)

GST `5,737.57 Policy Term (Period of benefit coverage) 26 years

First year Premium Payable Annually Premium Payment Term (Period for which
`1,33,239.16 15 years
(Inclusive of GST) premiums are to be paid)

Total Base Premium paid for the Premium

`19,98,587.36 Premium Payment Mode Annually
Payment Term (Inclusive of GST)

Premium Back Option Yes Income Payout Period (in months / years) 120 months / 10 years

Life Stage Event Benefit option No Risk Class Non-Smoker

Your Rider/Additional Benefits Details

Accelerated Critical Illness, Waiver of Premium Plus

Accident Cover, if opted
if opted Rider, if opted

Sum Assured NA NA NA

Benefit Coverage Term NA NA NA

Premium Payment Term NA NA NA

First Year Premium Payable Annually

NA NA NA
(Exclusive of GST)

GST NA NA NA

First Year Premium Payable Annually

NA NA NA
(Inclusive of GST)

Notes:

• GST and other applicable taxes, cess (if any) would be levied as per the applicable laws and would be borne by the Policyholder. Tax laws and
the benefits arising under the Policy are as per prevailing provisions of law and subject to change.
• The GST shall comprise - CGST, SGST/UTGST or IGST as applicable and cesses thereon, if any. The applicability of appropriate components
will be determined subject to Policyholder’s communication address (residential state) and state of the insurance provider.

………………….Signature / OTP confirmation/ Electronic Signature of the Proposer

Max Life Insurance Company Limited having its Corporate Office at 11th Floor, DLF Square, Jacaranda Marg, DLF City, Phase II, Gurugram – 122002
1
 YEARLY ILLUSTRATIVE DETAILS
What You Get On What You Get
What You Get If
What You Get On Death If Your Policy is Acceptance of On Maturity If
What You Give You Surrender
Premium Paying Critical Illness You Pay All
Your Policy
Claim Your Premiums
Age of Life
Policy Year
Insured Annual Base Death Accident Cover Total Monthly Accelerated Maturity Surrender
Premiums Benefit (Lump Benefit (Lump Income Critical Illness Benefit Value / Early
Sum) Sum) Benefit (Lump Exit Value
Sum) Payable
(A) (B) (C) (D) (E) (F) (G)
1 59 1,27,502 50,00,000 0 34,80,000 0 0 0

2 60 1,27,502 50,00,000 0 34,80,000 0 0 0

3 61 1,27,502 50,00,000 0 34,80,000 0 0 1,14,751

4 62 1,27,502 50,00,000 0 34,80,000 0 0 2,55,003

5 63 1,27,502 50,00,000 0 34,80,000 0 0 3,31,504

6 64 1,27,502 50,00,000 0 34,80,000 0 0 4,13,105

7 65 1,27,502 50,00,000 0 34,80,000 0 0 4,99,806

8 66 1,27,502 50,00,000 0 34,80,000 0 0 5,91,607

9 67 1,27,502 50,00,000 0 34,80,000 0 0 6,88,509

10 68 1,27,502 50,00,000 0 34,80,000 0 0 7,90,510

11 69 1,27,502 50,00,000 0 34,80,000 0 0 8,97,611

12 70 1,27,502 50,00,000 0 34,80,000 0 0 9,94,512

13 71 1,27,502 50,00,000 0 34,80,000 0 0 11,10,539

14 72 1,27,502 50,00,000 0 34,80,000 0 0 12,31,665

15 73 1,27,502 50,00,000 0 34,80,000 0 0 13,57,892

16 74 0 50,00,000 0 34,80,000 0 0 13,96,142

17 75 0 50,00,000 0 34,80,000 0 0 14,34,393

18 76 0 50,00,000 0 34,80,000 0 0 14,72,643

19 77 0 50,00,000 0 34,80,000 0 0 15,10,894

20 78 0 50,00,000 0 34,80,000 0 0 15,49,144

21 79 0 50,00,000 0 34,80,000 0 0 15,68,270

22 80 0 50,00,000 0 34,80,000 0 0 16,06,520

23 81 0 50,00,000 0 34,80,000 0 0 16,44,770

24 82 0 50,00,000 0 34,80,000 0 0 16,83,021

25 83 0 50,00,000 0 34,80,000 0 0 17,21,271

26 84 0 50,00,000 0 34,80,000 0 19,12,524 17,21,271

A. ‘Annual Premiums’ is the sum of premiums payable in a policy year towards Base policy, Accelerated Critical Illness (ACI) Benefit (if opted), Accident Cover (if opted)
and Waiver of Premium Plus rider (if opted) exclusive of GST. Premium payment on account of ACI benefit (if opted) will cease after payout of ACI benefit and future
premiums payable under the policy for death benefit will reduce proportionately by the extent of claim paid towards ACI benefit.
B. ‘Base Death Benefit (Lump Sum)’ is the amount payable on death as per the death benefit variant chosen by the Policyholder at inception of the policy.

C. If the Life Insured dies due to an accident, 100% of Accident Cover Sum Assured will be payable as lump sum irrespective of the death benefit variant chosen by the
policyholder, upon approval of claim. This benefit shall be payable in addition to the death benefit Sum Assured.
D. If the death benefit variant is either of Income Protector, Income + Inflation Protector, Life Cover + Level Income, Life Cover + Increasing Income; then ‘Total Monthly
Income’ is the sum of all the monthly incomes that will be payable starting from next monthly anniversary of the policy post the date of death of life insured till the end
of the Income Payout period.

………………….Signature / OTP confirmation/ Electronic Signature of the Proposer

Max Life Insurance Company Limited having its Corporate Office at 11th Floor, DLF Square, Jacaranda Marg, DLF City, Phase II, Gurugram – 122002
2
E. In case the ‘Accelerated Critical Illness (ACI) benefit’ claim has been paid, the Sum Assured under the policy shall be reduced to the extent of the claim paid out on
account of the ACI benefit. The ACI Sum Assured will always be paid as a lump sum benefit irrespective of the death benefit variant selected.
For Death Benefit variants Income Protector and Income + Inflation Protector; in case ACI benefit claim has been paid, the monthly incomes payable will be reduced
proportionately to the extent of reduction in Sum Assured on account of ACI benefit claim paid out.
For Death Benefit variants Life Cover + Level Income and Life Cover + Increasing Income; in case ACI benefit claim has been paid, the monthly incomes payable
shall remain unchanged and the Sum Assured shall be reduced to the extent of the claim paid out on account of ACI benefit paid out.
For Death Benefit variant Life Cover; in case ACI benefit claim has been paid, the Sum Assured shall be reduced to the extent of the claim paid out on account of
ACI benefit paid out.

F. No ‘Maturity Benefit’ is payable except in case where the Premium Back Variant is selected. Under the Premium Back variant, if the Life Insured survives throughout
the policy term, 100% of the total annualized premiums paid (i.e. total premiums paid inclusive of any extra premium but exclusive of all applicable taxes, cesses or
levies and modal extra) under the base policy only (corresponding to base Sum Assured and any Life Stage Add on Sum Assured, if chosen) will be paid at the end
of policy term. If there is a discount applicable under the policy, only the 100% of total discounted premiums paid would be returned on maturity of the policy.

G. On the discontinuance of payment of premium or the policyholder surrendering the policy, the policyholder will be paid the ‘Surrender Value / Early Exit Value’. For
details on the ‘Surrender Value / Early Exit Value’, please refer to the Policy Document.

Income Benefit
Following is the illustration of the Monthly Incomes (if any) that will be payable starting from next monthly anniversary of the policy post the date of
death of Life Insured till the end of the Income Payout period chosen:

Year*** Monthly Income Yearly Income

1 20,000 2,40,000

2 22,000 2,64,000

3 24,000 2,88,000

4 26,000 3,12,000

5 28,000 3,36,000

6 30,000 3,60,000

7 32,000 3,84,000

8 34,000 4,08,000

9 36,000 4,32,000

10 38,000 4,56,000

*** Monthly Anniversary following the date of death of the Life Insured.

Important Notes:

• The Life Stage Add on Sum Assured option, if chosen at inception of the policy, provides an option to the policyholder to increase the Sum
Assured in future basis life stage events like marriage, child birth and/or home loan. The premium payable corresponding to the Life Stage Add
on Sum Assured will be determined basis the remaining policy term and attained age, subject to maximum entry age and minimum policy term
conditions.

Please refer to the Policy Document for the eligibility criteria required to exercise the Life Stage benefit option.
• This Benefit illustration shall become part of the Policy Document. It does not purport to be a contract of insurance and does not in any way
create any rights and/or obligations.
• The above information must be read in conjunction with the Sales Brochure and Policy Document.
• All amounts are in Indian Rupees.

………………….Signature / OTP confirmation/ Electronic Signature of the Proposer

Max Life Insurance Company Limited having its Corporate Office at 11th Floor, DLF Square, Jacaranda Marg, DLF City, Phase II, Gurugram – 122002
3
I ________________________________________________________ (Name), have explained the terms and conditions and the benefits of the
policy to the prospect/policyholder.

Signature / OTP confirmation/ Electronic Signature of the Agent/Specified Person:

Name and ID:

Place:

Date:

Company Seal:

I ________________________________________________________ (Name), having received the information with respect to the above, have
understood the above statement before entering into the contract.

I understand and intend to continue paying the above said premium amount for the complete Premium Payment Term of 15 years and as
per the opted frequency.

Policyholder’s Signature:

Policyholder’s Name:

Date:

………………….Signature / OTP confirmation/ Electronic Signature of the Proposer

Max Life Insurance Company Limited having its Corporate Office at 11th Floor, DLF Square, Jacaranda Marg, DLF City, Phase II, Gurugram – 122002
4