Benefit Illustration

Max Life Online Savings Plan

UIN No: 104L098V01

Non Participating Unit Linked Insurance Plan

Policy/Proposal No: 718400131072

Date of Illustration – 04 Oct 2018

IN THIS POLICY, THE INVESTMENT RISK IN THE INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER

Personal Details Product Features Investment Options

Name of Life Insured akshay goyal Policy Term 20 Years Secure Fund 0

Age of Life Insured at Inception of policy 24 Years Premium Payment Term 20 Years Balanced Fund 0

Gender of Life Insured Male Premium Payment Mode Annually Growth Super Fund 0

Name of Policyholder akshay goyal Modal Premium Rs.48,000 Growth Fund 0

Age of Policyholder at Inception of policy 24 Years Annualized Premium Rs. 48,000 High Growth Fund 100

Gender of Policyholder Male Sum Assured of Base Policy Rs.4,80,000 Dynamic Fund Allocation No

Policyholder Residential State Life Cover Multiple 10

Max Life State Haryana Death Benefit Option Variant 1

Net Reduction in Yield (This excludes reduction due to GST, mortality charges, morbidity charges,
Gross Yield 8.00% 1.35%
rider charges and guaranteed benefit charges, if any) *

6.39
Net Yield (This includes GST & all charges) * GST 18.00%
%

Net Yield (This excludes reduction due to GST, mortality charges, morbidity charges, rider
6.65%
charges and guaranteed benefit charges, if any) *

* The yields shown above do not take partial withdrawals into consideration.
Refer Description of Goods and Service Tax (GST) under Important Notes section.

Some benefits are guaranteed and some benefits are variable with returns based on the future performance of your Insurer carrying on life insurance business. If your policy offers guaranteed returns then these will
be clearly marked “guaranteed” in the illustration table on the next page. If your policy offers variable returns then the illustrations on this page will show two different rates of assumed future investment returns.
These assumed rates of return are not guaranteed and they are not the upper or lower limits of what you might get back, as the value of your policy is dependent on a number of factors including future investment
performance.

This is only an Illustrative document. The Benefits if guaranteed, are clearly marked so. For variable benefits, investment growth rates of 4% and 8% are used as an illustration
 YEARLY ILLUSTRATIVE DETAILS
(This shall form a part of the policy document)
The following table provides year-by-year statements of various charges and benefits over the duration of the policy with assumed rate of return as mentioned:
(All cash flows are in Rs.)
Premium
General Details Charges & GST Details - Scenario 1 (Gross Yield: 8%pa) Scenario 1 (Gross Yield: 8%pa)
Details

Amount
Available Mortality Fund
Age of Annualized Premium Policy Fund Fund Partial Surrender Death
Policy for /Morbidity Total Value Maturity
life Target Allocation Administration Management GST(6) Value Withdrawal Value*** Benefit
Year Investment /Rider Charges(5) before Benefit(12)
Assured Premium charge(1) Charge(2) Charge(4) (E.O.Y) (8) (E.O.Y) (9) (EOY)(10) (EOY)(11)
(out of Charge(3) FMC(7)
premium)

1 24 48,000 - 48,000 - 336 622 958 172 50,729 50,666 - 47,268 4,80,000 -

2 25 48,000 - 48,000 - 299 1,282 1,581 285 1,04,754 1,04,624 - 1,02,358 4,80,000 -

3 26 48,000 - 48,000 - 258 1,985 2,244 404 1,62,290 1,62,090 - 1,60,390 4,80,000 -

4 27 48,000 - 48,000 - 211 2,734 2,945 530 2,23,572 2,23,296 - 2,22,163 4,80,000 -

5 28 48,000 - 48,000 - 163 3,531 3,694 665 2,88,841 2,88,483 - 2,88,483 4,80,000 -

6 29 48,000 - 48,000 - 111 4,380 4,491 808 3,58,355 3,57,912 - 3,57,912 4,80,000 -

7 30 48,000 - 48,000 - 52 5,285 5,337 961 4,32,396 4,31,861 - 4,31,861 4,80,000 -

8 31 48,000 - 48,000 - 0 6,248 6,248 1,125 5,11,246 5,10,614 - 5,10,614 5,10,614 -

9 32 48,000 - 48,000 - 0 7,273 7,273 1,309 5,95,149 5,94,413 - 5,94,413 5,94,413 -

10 33 48,000 - 48,000 - 0 8,365 8,365 1,506 6,84,430 6,83,583 - 6,83,583 6,83,583 -

11 34 48,000 - 48,000 - 0 9,526 9,526 1,715 7,79,432 7,78,468 - 7,78,468 7,78,468 -

12 35 48,000 - 48,000 - 0 10,761 10,761 1,937 8,80,522 8,79,434 - 8,79,434 8,79,434 -

13 36 48,000 - 48,000 - 0 12,076 12,076 2,174 9,88,091 9,86,869 - 9,86,869 9,86,869 -

14 37 48,000 - 48,000 - 0 13,475 13,475 2,425 11,02,554 11,01,191 - 11,01,191 11,01,191 -

15 38 48,000 - 48,000 - 0 14,963 14,963 2,693 12,24,352 12,22,838 - 12,22,838 12,22,838 -

16 39 48,000 - 48,000 - 0 16,547 16,547 2,978 13,53,956 13,52,282 - 13,52,282 13,52,282 -

17 40 48,000 - 48,000 - 0 18,232 18,232 3,282 14,91,865 14,90,021 - 14,90,021 14,90,021 -

18 41 48,000 - 48,000 - 0 20,026 20,026 3,605 16,38,613 16,36,587 - 16,36,587 16,36,587 -

19 42 48,000 - 48,000 - 0 21,934 21,934 3,948 17,94,765 17,92,547 - 17,92,547 17,92,547 -

20 43 48,000 - 48,000 - 0 23,965 23,965 4,314 19,60,925 19,58,501 - 19,58,501 19,58,501 19,58,501

This is only an Illustrative document. The Benefits if guaranteed, are clearly marked so. For variable benefits, investment growth rates of 4% and 8% are used as an illustration
 (All cash flows are in Rs.)
Premium
General Details Charges & GST Details - Scenario 2 (Gross Yield: 4%pa) Scenario 2 (Gross Yield:4%pa)
Details

Amount
Available Mortality Fund
Age of Annualized Premium Policy Fund Fund Partial Surrender Death
Policy for /Morbidity Total Value Maturity
life Target Allocation Administration Management GST(6) Value Withdrawal Value*** Benefit
Year Investment /Rider Charges(5) before Benefit(12)
Assured Premium charge(1) Charge(2) Charge(4) (E.O.Y) (8) (E.O.Y) (9) (EOY)(10) (EOY)(11)
(out of Charge(3) FMC(7)
premium)

1 24 48,000 - 48,000 - 337 610 946 170 48,842 48,782 - 45,383 4,80,000 -

2 25 48,000 - 48,000 - 302 1,232 1,534 276 98,931 98,809 - 96,543 4,80,000 -

3 26 48,000 - 48,000 - 265 1,870 2,136 384 1,50,300 1,50,114 - 1,48,415 4,80,000 -

4 27 48,000 - 48,000 - 224 2,525 2,749 495 2,02,986 2,02,735 - 2,01,602 4,80,000 -

5 28 48,000 - 48,000 - 183 3,197 3,380 608 2,57,021 2,56,703 - 2,56,703 4,80,000 -

6 29 48,000 - 48,000 - 143 3,885 4,028 725 3,12,437 3,12,051 - 3,12,051 4,80,000 -

7 30 48,000 - 48,000 - 97 4,592 4,689 844 3,69,276 3,68,819 - 3,68,819 4,80,000 -

8 31 48,000 - 48,000 - 51 5,316 5,367 966 4,27,572 4,27,044 - 4,27,044 4,80,000 -

9 32 48,000 - 48,000 - 1 6,059 6,060 1,091 4,87,367 4,86,764 - 4,86,764 4,86,764 -

10 33 48,000 - 48,000 - 0 6,821 6,821 1,228 5,48,639 5,47,960 - 5,47,960 5,47,960 -

11 34 48,000 - 48,000 - 0 7,602 7,602 1,368 6,11,422 6,10,666 - 6,10,666 6,10,666 -

12 35 48,000 - 48,000 - 0 8,402 8,402 1,512 6,75,755 6,74,919 - 6,74,919 6,74,919 -

13 36 48,000 - 48,000 - 0 9,221 9,221 1,660 7,41,675 7,40,758 - 7,40,758 7,40,758 -

14 37 48,000 - 48,000 - 0 10,061 10,061 1,811 8,09,222 8,08,221 - 8,08,221 8,08,221 -

15 38 48,000 - 48,000 - 0 10,921 10,921 1,966 8,78,435 8,77,349 - 8,77,349 8,77,349 -

16 39 48,000 - 48,000 - 0 11,803 11,803 2,125 9,49,357 9,48,183 - 9,48,183 9,48,183 -

17 40 48,000 - 48,000 - 0 12,707 12,707 2,287 10,22,028 10,20,765 - 10,20,765 10,20,765 -

18 41 48,000 - 48,000 - 0 13,632 13,632 2,454 10,96,493 10,95,137 - 10,95,137 10,95,137 -

19 42 48,000 - 48,000 - 0 14,581 14,581 2,625 11,72,795 11,71,345 - 11,71,345 11,71,345 -

20 43 48,000 - 48,000 - 0 15,553 15,553 2,800 12,50,980 12,49,434 - 12,49,434 12,49,434 12,49,434

EOY – End of Year

***The Policyholder may surrender/ discontinue the policy at any time after inception of the policy. In case the policyholder surrenders the policy within the lock-in-period, the Company will credit the Fund Value into
the Discontinuance Policy Fund after deducting applicable Surrender / Discontinuance Charges. At the expiry of lock-in period, the company will pay the policyholder the value of units in the Discontinuance Policy
Fund as at that date. In case the policyholder surrenders the policy after the completion of lock-in period, the company will pay the fund value as on the date of receipt of surrender request.

This is only an Illustrative document. The Benefits if guaranteed, are clearly marked so. For variable benefits, investment growth rates of 4% and 8% are used as an illustration
IMPORTANT NOTES
Your Policy contract shall be accompanied with an updated benefit illustration.
Section A - Key definitions of the terms used in the above table
Max Life Insurance Company is the name of the Company and Max Life Online Savings Plan is the name of the Non Participating Unit Linked Insurance Plan and does not in any way indicate the future prospects or
returns of the said Plan.
Charges:
(1) Premium Allocation Charge: This charge is levied for expenses towards issuance and renewal, and is deducted as a percentage of premium paid.
In this plan Premium Allocation Charge is Zero.
(2) Policy Administration Charge: This is a charge levied for administration of the policy and is deducted as a percentage of the Annualized premium under the plan.
In this plan Policy Administration Charge is Zero.
(3) Mortality / Morbidity / Rider Charge: This is a charge levied for providing risk/insurance cover to the Life Insured during the Policy Term, by deducting Units from the Unit Account on each Monthly Anniversary.
Variant 1 - Mortality charge has been calculated basis sum at risk, where sum at risk is equal to higher of Sum Assured (reduced by applicable partial withdrawals, if any) or 105% of all premiums paid less fund
value subject to a minimum of zero.
Variant 2 – Mortality charge has been calculated basis sum at risk, where sum at risk is equal to the higher of Sum Assured or 105% of total premiums paid and present value of the Family Income Benefit and
Funding of Premium benefit discounted at 5.50%p.a.
(4) Fund Management Charges (FMC): This is a charge levied for management of the Fund(s), and is deducted by adjusting the Net Asset Value of the Fund(s).
(5) Total Charges: Total charges is the sum total of all applicable charges stated.
(6) Goods and Service Tax: GST and other applicable taxes, cess (if any) would be levied as per 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 whichever may applicable and cesses, if any. The applicability of appropriate components will be determined subject to policyholder communication address
(state) and state of insurance provider.
(7) Fund Value before FMC: Fund value prior to deduction of FMC and corresponding GST.
(8) Fund Value (E.O.Y) : Fund Value is the summation of accumulated Units in Fund(s) multiplied by NAV of respective Fund(s).
(9) Partial Withdrawal: Life Insured shall be allowed to make Partial Withdrawal after 5th Policy Year. Maximum of 2 Partial Withdrawals shall be allowed in a year.
(10) Surrender Value: Any time during the policy term Life insured can surrender the policy.
(11) First Year Commission payable is already incorporated in the charges. It is not charged separately. First Year Commission is defined as % of single premium: For premium payment term<= 9 Yrs,it is same as
premium payment term; and for premium payment term >= 10 yrs, it is 12% flat. There is no renewal commission payable.
• Surrender within five years of Effective Date of the Policy (i.e. within the Lock-in Period) – Company will credit the Fund Value by creation of units into the Discontinuance Policy Fund after deducting applicable
Surrender / Discontinuance Charges. At the expiry of five years from the effective date of the Policy, the Company will close the Unit Account and pay the Policyholder the value of units in the Discontinuance Policy
Fund as at that date.
• Surrender after five of Effective Date of the Policy (i.e. after the completion of Lock-in period) – Company shall close the Unit Account and pay the Fund Value at the date of receipt of the surrender request.
Please note that Surrender value is net of Surrender Charge (inclusive of applicable GST).

(11) Death Benefit under the plan includes the following:

• Variant 1 – In the event of Life Insured death anytime during the term of the policy, higher of the following benefit are payable.
- Sum Assured equal to higher of Cover Multiple times the Annualised Premium or 0.5 times the product of Policy Term and Annualised Premium (reduced by applicable partial withdrawals, if any), or
- 105% of cumulative premiums paid till the date of death, or
- Total Fund Value (as on the date of death)
• Variant 2 – In the event of Life Insured death anytime during the term of the policy, the nominee shall get the following:
- Lump Sum Benefit - Sum Assured equal to higher of 10 times the Annualised Premium or 0.5 times the product of Policy Term and Annualised Premium, or 105% of all premiums paid till the date of death.
Please note that Death Benefit column in the table above provides only Lump Sum Benefit. The policy shall continue and Fund value shall be payable at the end of the Policy Term.
- Family Income Benefit (FIB) - FIB equal to 1% of the Sum Assured will be paid each month starting from the policy anniversary date of every month following or coinciding with the date of death of the Life Insured till
the end of the policy term, subject to a minimum of 36 monthly payments and a maximum of 120 monthly payments.
Please note in case of death of Life Insured with less than 36 months left till the end of Policy Term, there will be a lump sum payment of remaining instalments (36 less monthly instalments already paid) with the last
monthly payout at end of the policy term.
- Funding of Premium - Under this benefit, the Company will fund all future outstanding premiums as and when due under the Policy.
- Fund Value – Fund Value as on date of maturity shall be payable
(12) Maturity Benefit: Fund Value shall be payable at the end of the Policy Term.

Section B – Additional information

• This Benefit Illustration shall form a part of policy document.
• This is document does not purport to be a contract of insurance and does not in any way create any rights and/or obligations.
• Unit Linked Life Insurance products are different from traditional insurance products and are subject to risk factors mentioned in the policy document.
• The Premiums paid in unit-linked life insurance policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of the fund and
factors influencing the capital market. The insured is responsible for his or her decisions.
• Past performance of the investment funds do not indicate the future performance of the same. There are no guaranteed or assured returns.
• Policy benefits are payable provided all premiums are paid, when they are due. The illustrative benefits above assume that all premiums that are due will be paid on the due dates.
• Please note that in accordance to the provisions of section 10(10D) of Act, if annualised premium of policy exceeds10% of minimum capital Sum Assured (death benefit under the policy) at any time during the
tenure of policy then the policy proceeds (maturity or surrender benefit) will be subject to TDS under section 194DA of income tax act. In case such taxable payout is Rs 1 lac or more during the financial year, TDS
would be applicable. You are advised to consult your tax expert for better clarification.
• Section 194DA under the Income Tax Act 1961 requires life insurance companies to deduct tax (TDS) @ 1% (or 20% in case of no PAN) from the amount payable to resident policyholders under life insurance policy
subject to condition specified under section 10(10D). The TDS rates provided above are subject to change.

• You may be entitled to certain applicable tax benefits on your premiums and Policy benefits in accordance to provisions of Income Tax Act. Please note that the tax benefits are subject to prevailing tax laws Please
consult your tax advisors for more clarification.

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 20 years and as per the opted frequency. I also understand that some of the benefits under the
plan are non guaranteed.

This is only an Illustrative document. The Benefits if guaranteed, are clearly marked so. For variable benefits, investment growth rates of 4% and 8% are used as an illustration
This is only an Illustrative document. The Benefits if guaranteed, are clearly marked so. For variable benefits, investment growth rates of 4% and 8% are used as an illustration