Benefits
About Insurer
Max Life Insurance Company Limited is a Joint Venture between Max Financial Services Limited and Axis Bank Limited. Max Financial Services Ltd. is a part of the Max Group, an Indian multi business corporation. Max Life has a total claims paid ratio of 99.65% as per the annual audited financials for the FY 23-24. Max Life offers comprehensive protection and long-term savings life insurance solutions, through its multichannel distribution including agency and third party distribution partners.
Eligibility
Investment Eligibility: Minimum Investment : Rs. 1,000/month or Rs. 12,000 per year.
Age Eligibility: Minimum : 18 years & Maximum : 65 years
Fund Performance
AUM : Rs. 29,993 Cr.
Fund | Fund Size | 3 years Returns | 5 years Returns | 10 years Returns |
Nifty Momentum Quality 50 Fund Fund NAV: 10.0 | 27.0% | 36.0% | 21.0% | |
Nifty Smallcap Quality Index Fund Fund NAV: 15.2 | 709 Cr | 26.0% | 34.0% | 21.0% |
Super Growth Fund NAV: 80.6 | 15,081 Cr | 11.9% | 16.7% | 12.6% |
Balanced Fund Fund NAV: 74.6 | 2,827 Cr | 8.5% | 10.0% | 9.0% |
Secure Fund NAV: 44.2 | 1,069 Cr | 6.1% | 7.1% | 7.3% |
Nifty Alpha 50 Fund Fund NAV: 10.8 | 156 Cr | NA | NA | NA |
Midcap Momentum Index Fund* Fund NAV: 12.4 | 522 Cr | NA | NA | NA |
Nifty 500 Momentum 50 Fund Fund NAV: 10.0 | NA | NA | NA | |
Discontinuance Fund Individual Fund NAV: 19.2 | 5,360 Cr | 5.3% | 4.9% | NA |
Diversified Equity Fund Fund NAV: 29.7 | 2820 Cr | 17.1% | NA | NA |
Dynamic Bond Fund Fund NAV: 12.9 | 32.9 Cr | 6.1% | NA | NA |
Money Market II Fund Fund NAV: 12.0 | 67.8 Cr | 5.2% | NA | NA |
Sustainable Equity Fund Fund NAV: 17.4 | 500 Cr | NA | NA | NA |
Pure Growth Fund Fund NAV: 17.0 | 250 Cr | NA | NA | NA |
Midcap Momentum Index Fund Fund NAV: 12.0 | 594 Cr | NA | NA | NA |
Charges
Type | Percentage or Amount |
Fund Management Charges | 0.90% p.a. for bond related and money market funds upto 1.25% p.a. for equity funds (lowest of among all the ULIPs) Please check the brochure for more details |
Mortality Charges | Changes from time to time, please check the policy brochure or contact us. |
Policy Admin Charges | Nil |
Premium Allocation charges | Nil |
Switching charges | Nil |
Partial Withdrawal charge | Nil A maximum of two partial withdrawals are allowed in any policy year. |
Premium redirection charge | Nil A maximum of six premium redirections are allowed in any Policy year. |
Discontinuance Charge | Nil after 5 years lock-in For more details, Please check the brochure |
Miscellaneous Charges | Nil |
Tax Savings
If you invest Rs. 50,000 per year for 5 years in the Nifty Momentum Quality 50 fund which grows at a 21% (last 10 years CAGR) for 10 years. Returns would be Rs. 11,90,916
Under Section 80C (Old tax regime) : Investment amount is tax free
Your investment amount Rs.50,000 per year for 5 years will be tax exempt. So Tax savings : Rs. 15,000 per year (assuming 30% bracket). Total tax saving for 5 years would be Rs.75,000
Under Section 10D : Realised profits are tax free
Profits from your returns are tax free i.e. Rs. 11,90,916 - Rs. 2,50,000 = Rs. 9,49,916 would be tax free. If you had invested the same amount in ELSS or MF you would have to pay 12.5% LTCG tax on profits. i.e. Rs. 1,17,614 (assuming same charges)
So total tax savings under both above sections would be Rs. 75,000 + Rs. 1,17,614 = Rs. 1,92,614