Max Life Future Genius Education Plan Features & Benefits

Max Life Future Genius Schooling is an insurance-cumulative savings plan that assists you in accumulating money for your child's future financial requirements, such as more education, marriage expenses, or a dream career or company. Even if you are not present, this plan protects your child's financial stability. If you die while the insurance is still in effect, a death benefit will be given to your child or an appointee if the kid is under the age of 18. You may also customize the insurance term, premium payment, and money back distributions based on your child's future financial requirements with this plan.

Features of the Max Life Future Genius Education Plan

The Max Life Future Genius Education plan includes the following highlights:

• In the case of your death, this policy will provide financial security for your kid.
• A guaranteed money-back refund had been provided in the preceding four policy years.
• The opportunity to choose the payment period for premiums and the length of insurance
• Option to select one of three extra choices
• Tax breaks are available.
• This bundle allows you to select from five different rider options.

Benefits of Buying the Max Life Future Genius Education Plan

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

• Financial Security of Your Child

In the case of your absence, your kid will be financially secure thanks to the Max Life Future Genius Education plan. If you die during the policy term, your nominee, who is normally your kid or an appointee if your child is a minor, will get a death benefit to cover your child's future financial requirements, such as further education, marriage expenses, or a dream job or business endeavour, while you are gone.

• Benefits of Maturity

Under the Max Life Future Genius Education plan, a maturity bonus of 25% of the sum insured is granted in the last four policy years of the policy length. The maturity benefit can help you support your child's financial demands, such as a dream wedding, dream career, or helping them start a company. Guaranteed Money-Back Payouts: This plan provides guaranteed money-back payouts in the last four years of the policy term if the life assured lives the whole policy term. Refunds are calculated at a rate of 25% of the promised amount.

• Wealth Appreciation

The Max Life Future Genius Education plan is a participation plan, meaning that bonuses are paid out dependent on the insurer's market success. The three bonus choices available under this plan are Cash, Premium Offset, and Paid-Up Additions.

Conclusion

By enrolling in the Max Life Future Genius Education Plan, parents may assure that their child has a financially secure future and obtains the greatest college education available. This plan includes guaranteed money back, a maturity benefit, and total financial protection in the case of death. Under the Policy Continuance Benefit, if the life insured dies, the death benefit is paid and all future payments are waived. Furthermore, all benefits are paid to the recipient when they are due, including moneyback and maturity benefits. Even if a parent is not there, this assures that the child's future is preserved.

Also read- The Value of a Premium Rider Waiver in a Child Education Plan

The Most Important Benefits Of Buying A Child Life Insurance Plan