Monday, March 31, 2014

Max Life rolls-out 'Shiksha Plus Super', a unit-linked child plan

Leading private sector life insurer Max Life Insurance, on Monday, said that it has launched a unit-linked child plan- Shiksha Plus Super, aiming at children education and career.

“The launch of 'Shiksha Plus Super' completes our suite of products required for all life stage needs that are compliant with the new guidelines effective January 1, 2014", said CEO & Managing Director of Max Life Insurance Mr. Rajesh Sud in a company statement.

The Max Life through its 'Shiksha Plus Super' offers customers the choice of investing premiums in five investment funds offered with an option of Dynamic Fund Allocation and Systematic Transfer Plan.

The Dynamic Fund Allocation option of the policy keeps policyholders tension free from selecting the investment funds manually. It automatically invests between equity and debt oriented funds in a pre-defined proportion that keeps changing as policy nears maturity.

“This investment strategy endeavours to safeguard their fund from any capital erosion by increasing the fund allocation in debt funds as policy progresses towards maturity,“ the statement said.

While, the Systematic Transfer Plan, the second option of the policy, replicates the rupee cost averaging method thereby allowing the policyholder to benefit from the market volatility, it statement further added. 


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