Insurance News

Max Life Insurance launches market-linked ‘Smart Flexi Protect Solution’


NEW DELHI: Max Life Insurance Company Ltd has launched ‘Smart Flexi Protect Solution’, a three-in-one plan that provides health and enhanced life cover, along with market-linked investment returns.

A combination of Max Life Flexi Wealth Plus, and Max Life Critical Illness and Disability Secure Rider, ‘Smart Flexi Protect Solution’ offers wealth creation along with comprehensive protection against death, disability and critical illness.

Prashant Tripathy, managing director and chief executive officer, Max Life said, “Max Life’s Smart Flexi Protect Solution is designed as a go-to choice for earning individuals, especially for self-employed profiles. The solution is also a hallmark of Max Life’s product innovation strength, driven fundamentally by consumer behavior and constantly endeavors to deliver tailored, flexible product offerings keeping speed and simplicity principles in mind.”

The ‘Smart Flexi Protect Solution’ is a combination of Max Life Flexi Wealth Plus: Flexi Wealth Plus will help create financial protection with enhanced life cover plus savings with market-linked returns. This plan offers five different investment strategies and 11 funds along with return of mortality charges at maturity.

Max Life Critical Illness and Disability Secure Rider: The Critical Illness and Disability Secure Rider acts as a financial net, offering a specific coverage amount to financially secure one against 64 critical illnesses and total permanent disability.

Key highlights of the plan are:

Enhanced death benefit: Max Life’s Smart Flexi Protect Solution has enhanced death benefit, offering the nominees an extra layer of financial protection in the event of the unfortunate demise of the insured.

Health cover: With Max Life’s Critical Illness and Disability Secure Rider, one gets financial protection against 64 critical illnesses and total permanent disability.

Investment benefit: The solution can help policyholders meet investment objectives through market-linked returns.

Frictionless Onboarding: The solution is differentiated by its simplified onboarding experience and easy issuance with video medical examination and relaxed financial documentation.

Tax Benefits: Tax benefits may be available as per the prevailing tax laws.

As per public disclosures and annual audited financials for FY21-22, Max Life achieved a gross written premium of 22,414 crore. As of 31 March 2022, the company had 1.08 trillion of assets under management (AUM) and a sum assured in force of 11.75 trillion.

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