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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.
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)
Premium Back Option Yes Income Payout Period (in months / years) 120 months / 10 years
Sum Assured NA NA NA
GST NA NA NA
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.
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.
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:
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.
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: