Max Life Insurance is only the name of the insurance company and Max Life Online Savings Plan (UIN: 104L098V05) is only the name of the unit linked life insurance contract and does not in any way indicate the quality of the contract, its future prospects or returns. The premium paid in the Unit Linked Life Insurance Policies is subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions. Unit Linked Insurance Products (ULIPs) are different from the traditional insurance products and are subject to the risk factors. THE POLICYHOLDER WILL NOT BE ABLE TO SURRENDER/WITHDRAW THE MONIES INVESTED IN LINKED INSURANCE PRODUCTS COMPLETELY OR PARTIALLY TILL THE END OF FIFTH YEAR. THE UNIT LINKED INSURANCE PRODUCTS DO NOT OFFER ANY LIQUIDITY DURING THE FIRST FIVE YEARS OF THE CONTRACT. The monthly Income Benefit and Terminal Benefit may be taxable subject to extra premium being loaded at underwriting stage.ĭisclaimers for Market Linked Plans & Saving plans: Tax benefits are subject to changes in tax laws. Please note that all the tax benefits are subject to tax laws at the time of payment of premium or receipt of policy benefits by you. Policy holders are advised to consult tax expert for better clarification /interpretation. Tax exemptions are as per our understanding of law and as per prevailing provisions of income tax at 1961. Tax benefits are eligible for tax exemption on fulfilling conditions mentioned under Section 10(10D) of income tax act 1961. For more details on the risk factors, Terms and Conditions, please read the sales and rider prospectus carefully before concluding a sale. Insurance is the subject matter of solicitation. respectively and with their consents, are used by Max Life Insurance Co. Trade logo displayed belongs to Max Financial Services Ltd. Please note all the tax benefits are subject to tax laws prevailing at the time of payment of premium or receipt of benefits by you. You may be entitled to certain applicable tax benefits on your premiums and policy benefits. For more details on risk factors, Terms and Conditions please read the prospectus carefully before concluding a sale. *Life insurance coverage is available in this product. Read more about Account Aggregator framework here. for sharing policy details with regulated Financial Information Users within the Account Aggregator ecosystem after obtaining the Policy holder's consent. Online Helpline - 01 (09:00 AM to 09:00 PM Monday to Saturday).Įmail ids: Max Life Insurance is integrated with licensed NBFC FinVu(Cookiejar Technologies Pvt. 90-C UdyogVihar, Sector 18, Gurugram (Haryana) - 122015.Ĭustomer Helpline: 18 (9:00 A.M to 6:00 P.M Monday to Saturday) * Call charges apply. 11th Floor, DLF Square Building, Jacaranda Marg, DLF City Phase II, Gurugram (Haryana) - 122002. Max Life Insurance Company Limited is a Joint Venture between Max Financial Services Limited and Axis Bank Limited. Individuals above 80 years (Super Senior Citizen Taxpayers)Īll Rights Reserved. Individuals between 60 and 80 years of years (Senior Citizen Taxpayers).Resident individuals are classified into three categories and they are required to pay taxes according to the income tax slabs and rates for the applicable fiscal. The residential status must be checked every year for tax purposes. However, the non-resident Indians (NRIs) are required to pay taxes on the income earned only in India. Resident individuals must pay tax according to the income they earn in India as well as abroad. The Income Tax Act also classifies residents of a country into two segments- residents and non-residents. Key tax payer groups who are covered under existing Income Tax rules include: Income tax slab rates for FY 2021-22 impact not just individual tax payers but also a number of other entities who are subject to taxation rules specified in the Income Tax Act 1961.
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