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Max Life ULIP Plans

Max Life Insurance- a joint venture between Max Financial Services and Mitsui Sumitomo Insurance - is one of the leading life insurance providers in India. The company’s product offerings include long-term savings, protection and retirement solutions, delivered by their agency and multi-channel distribution partners. Max Life Insurance reported Assets Under Management of Rs. 62,798 crores (source: public disclosure FY18-19).

The insurance provider’s Unit Linked Insurance Plans are a preferred investment choice among individuals seeking insurance cover and cost-effective market-linked returns. These plans provide a flexible approach to investment planning, since they allow investors/policyholders to balance their fund with equity and debt components. Additionally, they provide options to make switches as and when the market changes.

(Note - All the information contained in this page has been sourced from the official website of Max Life Insurance.)

Types of Max Life ULIP Plans

Max Life Insuranceoffers two ULIPs, namely Max Life Fast Track Super Plan and Max life Platinum Wealth Plan. Here a quick glance at what the two plans offer:

Max Life Fast Track Super Plan

The features of Max Life Fast Track Super Plan are as under:

  • Comprehensive life insurance coverage
  • Choice of six funds
  • Option to select premium payment term and policy period
  • Flexibility to make partial withdrawals
  • Systematic fund transfer and dynamic fund allocation mechanism to safeguard investments against market volatility
Age at Entry (Age as on last birthday)
Minimum Entry Age - 18 years
Maximum Entry Age for 5 Pay and Single Pay - 60 years
Maximum Entry Age for Regular Pay - 50 years
Age at Entry (Age as on last birthday)70 years

Max Life Platinum Wealth Plan

The features of Max Life Platinum Wealth Plan are as under:

  • Comprehensive life insurance coverage
  • Choice of six funds
  • Option to select premium payment term and policy period
  • Unlimited free switches
  • Guaranteed loyalty additions and guaranteed wealth boosters
  • Low charges
-Minimum Age at Entry (Age as on Last Birthday)Maximum Age at Entry (Age as on Last Birthday)Maximum Maturity Age (Age as on Last Birthday)
Premium Payment Term---
Single Pay / Limited Pay (5 Years)18 years60 years70 years
Regular Pay18 years55 years65 years

Documents Required For Buying Max Life ULIP Plans

An individual will have to submit certain documents to avail Max Life ULIP Plans. The documents include:

  • Identity Proof- PAN card, Aadhaar card, Passport, etc.
  • Address Proof- Aadhaar card, Passport, Driving license,



If the life assured passes away due to an act of suicide - whether sane or insane - within twelve months from the effective date of policy or the date of revival of the policy, all risks under the policy shall come to an end simultaneously and the policy shall terminate. The insurer will pay only the fund value, as on the date of demise, to the beneficiary

Review of Max life Ulip Plans

Max Life ULIP plansprovide users with a flexible approach to investment planning. Policyholders can benefit from - multiple fund options, flexibility to choose policy term and premium payment term, maturity benefits, death benefits and transparent charge structure. Additionally, tax deduction can be claimed under Section 80C of the Income Tax Act, 1961, for the premium payments made. The proceeds from the policy are completely tax-free in the hands of the receiver under Section 10(10D) of the Act.

How to Apply for ULIPs through Coverfox?

To apply for a ULIP plan through Coverfox, the below steps need to be followed:

  • Step 1 - Go to
  • Step 2 - Click on the ‘Investment’ tab. Choose the payment frequency, enter the investment amount and input mobile number. Once all the details are entered, press on the ‘Plan Investment’ button.
  • Step 3 - Submit information on the investment term and then select ‘Next: Return type’.
  • Step 4 - Make a choice between Guaranteed returns and Market linked returns and then select ‘Next: Basic details’.
  • Step 5 - Provide basic details - age and annual income, and then select ‘Next: View plans’. The screen will now display a list of ULIP plans that meet the user’s criteria. To avail a plan, the individual simply needs to click on it and he or she will be directed to the payment page.

FAQs on Max Life Ulip Plans

How to pay a premium? What are the modes of payments available?

Premiums for Max Life Platinum Wealth Plan can be paid through i) Single Pay: One time Premium Payment ii) Limited Pay: 5 Years or iii) Regular Pay: Annual, Semi-Annual, Quarterly & Monthly. Similarly, premiums for Max Life Fast Track Super can be paid via Single Pay, 5 Pay or Regular Pay. These payments can be made online i.e. through the company website, or by visiting one of the insurer’s branch offices

How can I check policy status for Max Life ULIP Plans?

To check the policy status, individuals can either go to the customer service page of the Max Life Insurance and enter application or policy details or directly call up the customer care number and make an inquiry.

What is the policy renewal process for Max Life ULIP Plans?

Users can renew their policy either by paying premiums through the website of the insurer or by heading to the nearest branch office. The company will require the policy number and certain basic details to proceed with renewing the insurance plan.

What is the company’s process to settle claims for Max Life ULIP Plans?

Once a claim is filed and all the necessary documents have been submitted (that support the claim), the insurer will settle it within a span of 30 days. If the claim warrants further verification, the insurer may take up to 180 days to settle it.

What is the policy cancellation process for Max Life ULIP Plans?

An individual can cancel his or her policy and get a refund of the premiums paid during the 15-day free-look period. The policyholder will have to highlight the areas of objection, following which the company will return the premiums, minus certain deductions.