Max Life Future Genius Education Plan: Features & Benefits

Max Life Insurance's Future Genius Education Plan is a non-linked participation life insurance plan. It is a single life insurance policy that allows you to provide your children with financial security as well as the best education available. Policyholders can get guaranteed money back, a Maturity Benefit, and a Death Benefit under the plan. Discounting and deferral choices, bonus options, terminal bonuses, and Paid Up Additions (PUA) withdrawal possibilities are also available. Policyholders can choose between 13 and 21 years of coverage, based on their child's graduation requirements. If they like, they can add the Max Life Term Plus Rider, Max Life Accidental Death & Dismemberment Rider, and Max Life Waiver of Premium Plus Rider to their policy.

Max Life Future Genius Education features

The following are some of the features of the Max Life Future Genius Education plan:

• Your child will be financially secure in the event of your death.
• In each of the previous four policy years, a guaranteed money back refund was granted.
• The ability to select the premium payment term as well as the length of insurance coverage.
• There are three different options to choose from.
• Tax advantages are provided.
• This package allows you to choose from five different rider choices.

Benefits of the Max Life Future Genius Education Plan

Some of the benefits of acquiring the Max Life Future Genius Education package include:

1. Financial Stability of a Child

Because of the Max Life Future Genius Education plan, your child will be financially secure even if you are not present. If you die during the life of the policy, your nominee, usually your child or an appointee if your child is a minor, will get a death benefit to cover your child's future financial needs while you are gone, such as extra schooling, wedding expenses, or a dream job or business venture.

2. Maturity's Benefits

The Max Existence Future Genius Education plan provides a maturity reward of 25% of the total coverage in the final four years of the policy's life. The maturity benefit might be used to help you satisfy your child's financial needs, such as a dream wedding, dream job, or supporting them in beginning a business. Payments are guaranteed or your money will be returned. This plan provides guaranteed money-back payouts in the last four years of the policy term if the individual covered lives the entire policy term. Refunds are calculated at a 25% percentage of the entire amount promised.

3. Wealth Appreciation

The Max Life Future Genius Education plan is a participation plan, which implies that rewards are distributed depending on how well the insurer does in the market. The three bonus options available under this plan are cash, premium offset, and paid-up additions.

Conclusion

Enrolling in the Max Life Future Genius Education Plan allows parents to ensure that their child has a financially secure future and receives the best college education available. This plan includes guaranteed money-backs, a maturity benefit, and ultimate financial security in the event of death. The death benefit is paid if the life insured dies, and all future payments are waived under the Policy Continuance Benefit. Furthermore, all rewards, including money return and maturity benefits, are given to the beneficiary on time. This protects the child's future even if a parent is not there.

Also Read: Build Your Child's Overseas Education Corpus With These Tips

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.