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Max Amsure Bonus Builder Plan |
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As a good planner, you need to look ahead and plan accordingly for your family’s future. As you work hard to ensure that your family is financially secured, you need a plan, which would provide you the helping hand and the desired financial support at times of unavoidable crisis in the future.
Max Amsure Bonus Builder Policy provides an insurance cover that is guaranteed for your entire life. This policy will always help you in fulfilling unforeseen, urgent needs through its various riders. Your premiums are eligible for deduction u/s 80C every year and your claim amount (from death) is eligible for tax exemption u/s 10(10D). In addition this policy is also eligible for bonuses.
- At Maturity (attaining age 100): Sum Assured plus accrued bonuses
- Money back benefit 5% of SA every year from Age 61 to 80
- On death of life insured: Sum Assured plus accrued bonus
- Terminal Illness Benefit: Pays 50% of Sum Assured (subject to maximum of Rs.5,00,000/-) to you in case you are diagnosed to be suffering from a terminal illness that can lead to death in 6 months.
- Tax benefit:
1. Your premiums are eligible for deduction u/s 80C every year.
2. Your claim amount (from death) is eligible for tax exemption u/s 10(10D).
Eligibility Criteria
| Criteria |
Eligibility |
| Entry Age |
18 - 50 years |
| Max Maturity Age |
100 years |
| Policy Term |
To age 100 |
| Premium Paying Term |
Higher of 20 years or age 60 |
| Minimum Sum Assured |
Rs. 50, 000 |
| Maximum Sum Assured |
No Limit (subject to underwriting) |
| Dread Disease Rider |
Personal Accident Benefit Rider |
Term / Term R&C Riders |
| Waiver of Premium (WOP) / Payor Riders |
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| Age |
20 – 50 Years (depending upon Term) |
| Benefits |
Incase Insured is diagnosed with any of the below mentioned diseases, an additional benefit will be paid to the insured. |
| Tenors Available |
Pick-a-Term: Minimum 10 Years
Maximum 40 Years |
| Expiry Age |
60 Years |
| Minimum Face Amount |
Rs 1 lac |
| Maximum Face Amount |
The lower of base face amount or Rs. 10 Lacs |
| Benefit Features |
Gives an additional benefit upon diagnosis of any of the ten diseases viz – Heart Attack, Cancer, Stroke, CABG, Multiple Sclerosis, Kidney Failure, Major Organ Transplant, Paralysis, COMA, Heart Valve Replacement/Repair |
| Calculation of Modal Premiums for Annual, Semi Annual, Quarterly , Monthly Modes |
For each frequency, multiply by theappropriate factor:
| Annual |
1.000 |
| Semi Annual |
0.520 |
| Quarterly |
0.265 |
| Monthly |
0.090 |
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| Age |
20 – 55 Years |
| Benefits |
The Personal Accident Benefit is a low cost additional benefit that is paid in case the insured’s death or total and permanent disability is caused by an accident.
Total and Permanent Disability means accidental injuries which, within 180 days from the happening of such accident and independently of all other causes, results in:
- irrecoverable loss of entire sight in both eyes; or
- amputation or loss of use, of both hands at or above the wrist; or
- amputation or loss of use, of both feet at or above the ankles; or
- amputation or loss of use, of one hand at or above the wrist and one foot at or above the ankle,
such that the life insured becomes incapable of engaging in any gainful activity or carrying out any work, occupation, or profession to earn or obtain any wages, compensation, remuneration or profit.
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| Expiry Age |
60 Years |
| Minimum Face Amount |
Rs 1 lac |
| Maximum Face Amount |
The lower of base face amount or Rs. 40 Lacs |
| Benefit Features |
Includes benefit incase of accidental death or permanent and total disability |
| Calculation of Modal Premiums for Annual, Semi Annual, Quarterly , Monthly Modes |
For traditional policies, multiply by the appropriate factor:
| Annual |
1.000 |
| Semi Annual |
0.520 |
| Quarterly |
0.265 |
| Monthly |
0.090 |
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| Age |
20 – 55 Years |
| Benefits |
The term rider is a pick-a-term plan starting from 5 years term to a plan to age 60. The rider allows the insured to purchase additional coverage at low cost> the only benefit is paid on the untimely death of the insured. |
| Expiry Age |
60 Years |
| Minimum Face Amount |
Rs 1lac |
| Maximum Face Amount |
The lower of base face amount or Rs. 5 Lacs |
| Premium per Rs ‘000 for a for a male of age for 5 years |
Rs. 2.70 |
| Calculation of Modal Premiums for Annual, Semi Annual, Quarterly , Monthly Modes |
For each frequency, multiply by the appropriate factor:
| Annual |
1.000 |
| Semi Annual |
0.520 |
| Quarterly |
0.265 |
| Monthly |
0.090 |
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| Age |
20 – 45 Years (Whole Life Par)
20 – 55 Years (All other plans) |
| Benefits |
The waiver of premium protects the life insured from the burden of paying the premiums on his insurance in case he/she gets totally disabled. “Total Disability” or “Totally Disabled” refers to the life insured becoming permanently and totally disabled as a result of injury or sickness and is thereby totally incapable of engaging in any gainful activity or carry out any work, occupation, or profession to earn or obtain any wages, compensation, remuneration or profit. |
| Expiry Age |
55 Years (Whole Life Par)
60 Years (All other plans) |
| Minimum Face Amount |
Linked to Base and relevant rider Premiums |
| Maximum Face Amount |
Subject to underwriting |
| Calculation of Modal Premiums for Annual, Semi Annual, Quarterly , Monthly Modes |
For each frequency, multiply by the appropriate factor:
| Annual |
1.000 |
| Semi Annual |
0.520 |
| Quarterly |
0.265 |
| Monthly |
0.090 |
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| Age |
20 – 38 Years |
| Benefits |
The GIO allows the life insured to purchase additional insurance, similar to the base insurance, over many aged linked dates. In addition there are two life events – Child Birth (includes adoption) and Marriage that allow the insured to buy additional insurance. The age linked dates are every 3 years from the date of purchasing the policy term. Subject to the limits, the insured need not to give evidence of insurability while taking additional life insurance. A maximum of 7 options will be allowed. The limit includes all life event linked options also. |
| Expiry Age |
41 Years |
| Minimum Face Amount |
25% of the Base Face Amount |
| Maximum Face Amount |
Maximum face amount that can be purchased at each option age is the lower of one the base f ace amount at issue or Rs. 2.5 lakhs. Option available at every third Policy anniversary from date of issue along with extra options at child birth & Marriage are subject to overall cap of 17.5 lakh for all 7 occasions. |
| Calculation of Modal Premiums, Semi Annual, Quarterly , Monthly Modes |
For the following frequencies multiply by the factor given below:
| Annual |
1.000 |
| Semi Annual |
0.520 |
| Quarterly |
0.265 |
| Monthly |
0.090 |
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Dread Disease (DD) Rider: Pays a lump sum amount in case you contract any of the ten diseases covered e.g. Heart Attack, Cancer, etc.
Personal Accident Benefit (PAB) Rider: Pays additional insurance coverage in case of death or disability caused by an accident.
Waiver of Premium |
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