"With this insight, we have designed the Smart Capital Guarantee Solution."
- V Viswanand, deputy managing director of Max Life
This product is set to combine three benefits into one package, offering wealth creation through market-linked returns along with a guarantee on premiums paid at maturity with additional financial protection.
With a single proposal form and combined benefits, consumers will have a clearer picture of the pre-issuance, issuance, and post-issuance stages.
Max Life claims that “as per the latest India Protection Quotient survey, over 46% of consumers prefer financial products as a mix of guaranteed and market-linked instruments.”
The company has said that while the consumers want to get the upside of the market-linked products, there is a latent need to ensure the protection of the invested capital, along with additional financial protection.
Max Life’s Smart Capital Guarantee Solution allows consumers to be flexible when choosing between different premium term payment options and provide comprehensive protection with death benefits.
This solution also includes capital guarantee through the maturity benefit of Max Life Smart Wealth Plan, market-linked returns, unique and customised storyboards tailored to meet varied financial needs, and tax benefits under section 80C and Section 10 of the Income Tax Act 1961.
