Max Amsure Bonus Builder Plan is a Money Back cum Whole Life Plan. This is a Traditional Participating Plan with Bonus Facility.
Eligibility Criteria | |||||
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Maximum | Minimum | ||||
Entry Age | 18 years | 50 years | |||
Maturity Age | 100 years | ||||
Sum Assured | 50,000 | No limit, subject to underwriting | |||
Min/ Max Policy Term | 100 – Age of Entry | ||||
Premium Payment Options | Annual, Semi-Annual, Quarterly and Monthly | ||||
Note:- For more details on the riders and various terms and conditions, please refer to the rider brochure(s). | |||||
Premium Payment Term (Years) | The premium term for this product is equal to 20 years or up to the policy anniversary following age 60 whichever is longer. |
Feature | Description | |||||
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Surrender Value | After the Policy has acquired Cash Value, you may surrender this Policy. The Surrender Value payable will be equal to Cash Value. | |||||
Once a request for surrender of the Policy is received by us, no other benefit under this policy is payable. | ||||||
Any other Feature | ||||||
Living Benefit | On the 61st birthday of the insured, 5% of Sum Assured will be paid on policy anniversary til 80th birthday of the insured. | |||||
Additional Benefit | You may exercise Option to Participate in Progressive Bonus (OPPB)(UIN: 104B008V01) in the form of paid-up additions (“PUA”) by paying the premium either at the stage of proposal. | |||||
The Sum Assured together with the Sum Assured of PUAs in-force, will be payable on the happening of the Insured Event. | ||||||
Terminal Illness benefit | Upto 50% of the Sum Assured, subject to a maximum cumulative of ` 5 lakhs (Rupees Five Lakhs only) under all policies which provide for this Terminal Illness Benefit. |
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The remainder of the Sum Assured, upon the occurrence of the Insured Event. | ||||||
Non-Forfeiture Benefits | ||||||
Reduced Paid Up Insurance | A reduced paid up insurance is the amount of paid up insurance, which can be purchased by utilizing the Surrender Value. |
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Note :- This reduced paid up insurance will acquire cash value. Such paid up policy is not entitled to any bonus. | ||||||
Extended Term Insurance (ETI) | The minimum term for ETI is five years. | |||||
If the surrender value is not sufficient to purchase ETI for five years or more the surrender value will be paid in cash. | ||||||
BONUS | ||||||
Paid in Cash: | The Bonus declared will be paid in cash. | |||||
Premium Offset: | : Use the bonus to offset the premium payable under the Policy. | |||||
In the event the bonus is in excess of the premium payable under the policy, the excess will be paid out in cash. | ||||||
However, if the bonus is not sufficient, the shortfall should be paid in full to keep the policy in force. | ||||||
Paid Up additions | Utilize the bonus, if any, to buy single premium endowment benefits, which will mature along with the base policy. |
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Note:- Please note that Bonuses are NOT guaranteed and may be as declared by the Company time to time. | ||||||
Revival of Policy: | If we do not receive a Premium by the end of the Grace Period, the Policy will lapse | |||||
However, if the policy has acquired cash value, it will be subject to the chosen non-forfeiture option. | ||||||
The cost of providing evidence of insurability would be the actual medical examination fee plus an administrative fee, which shall be not more than ` 2000/-. |
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Cash Value | Cash Value This Policy will acquire cash value if it has been in force for at least three years and provided all the Premiums that have fallen due have been received. |
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The guaranteed cash value of this policy will be thirty per cent (30%) of the Premium(s) (excluding the first year’s Premium) received. |
Suicide: In such an event, we will only refund the Premium(s) received from the Date of Policy or the effective date of any revival, whichever is later, without interest, less any expenses incurred by the company
Service Tax and education cess will be charged extra as per applicable rates
Know claim process of Max Life Amsure Bonus Builder Plan
Max Life Insurance, one of the leading life insurers, is a joint venture between Max India Ltd. and Mitsui Sumitomo Insurance Co. Ltd. Max India is a leading Indian multi-business corporate, while Mitsui Sumitomo Insurance is a member of MS&AD Insurance Group, which is amongst the top general insurers in the world.
Robinhood is known for its user & customer centric approach. We take care of all the phases of insurance, whether you've bought the policy from us or not.