Max Life Shiksha Plus Super Plan
11 Questions
0 Views

Max Life Shiksha Plus Super Plan

Created by
@EnoughStonehenge

Podcast Beta

Play an AI-generated podcast conversation about this lesson

Questions and Answers

Which benefit is NOT provided by the Max Life Shiksha Plus Super Plan?

  • Maturity benefits with fund value
  • Guaranteed returns after death (correct)
  • Death benefits for the nominee
  • Tax benefits under section 80C
  • What is the primary purpose of the Max Life Shiksha Plus Super Plan?

  • To provide retirement benefits
  • To offer a savings account with high interest
  • To provide general life insurance coverage
  • To secure children's education (correct)
  • How can policyholders make premium payments for the Max Life Shiksha Plus Super Plan?

  • Only annual payments
  • Single lump-sum payment only
  • Monthly, quarterly, half yearly, or annual payments (correct)
  • Only quarterly payments
  • What kind of financial support does the Max Life Shiksha Plus Super Plan provide in the event of the policyholder's death?

    <p>The nominee will receive a death benefit based on the insurance coverage</p> Signup and view all the answers

    Which section of the income tax does the Max Life Shiksha Plus Super Plan provide tax benefits under?

    <p>Section 80C</p> Signup and view all the answers

    Which statement accurately describes the maturity benefits of the Max Life Shiksha Plus Super Plan?

    <p>The fund value is returned after the plan matures.</p> Signup and view all the answers

    What is a key characteristic of the Max Life Shiksha Plus Super Plan as a ULIP?

    <p>It combines life insurance with investment opportunities.</p> Signup and view all the answers

    How does the Max Life Shiksha Plus Super Plan support education funding?

    <p>By accumulating a savings fund for children’s education.</p> Signup and view all the answers

    Which of the following is NOT a mode of premium payment for the Max Life Shiksha Plus Super Plan?

    <p>Bi-annual</p> Signup and view all the answers

    What type of tax benefits are associated with the Max Life Shiksha Plus Super Plan?

    <p>Tax benefits limited to the premiums paid under section 80C.</p> Signup and view all the answers

    Who receives the death benefits in the event of the policyholder's death under the Max Life Shiksha Plus Super Plan?

    <p>The nominee designated by the policyholder.</p> Signup and view all the answers

    Study Notes

    Max Life Shiksha Plus Super Plan Overview

    • A unit linked insurance plan (ULIP) designed to provide financial support for children's education.
    • Combines life insurance coverage with investment opportunities.

    Key Features and Benefits

    • Death Benefits: In the event of the policyholder's death, the nominee is entitled to receive a specified death benefit.
    • Tax Benefits: Premiums paid qualify for tax deductions under section 80C of the Income Tax Act, promoting financial planning.
    • Maturity Benefits: Upon plan maturity, policyholders receive the fund value accumulated during the policy term.
    • Funding for Education: Specifically tailored to meet the rising costs of higher education for children, reinforcing its primary purpose.

    Premium Payment Modes

    • Offers flexible premium payment options, including:
      • Annual
      • Half-yearly
      • Quarterly
      • Monthly

    Max Life Shiksha Plus Super Plan Overview

    • A unit linked insurance plan (ULIP) designed to provide financial support for children's education.
    • Combines life insurance coverage with investment opportunities.

    Key Features and Benefits

    • Death Benefits: In the event of the policyholder's death, the nominee is entitled to receive a specified death benefit.
    • Tax Benefits: Premiums paid qualify for tax deductions under section 80C of the Income Tax Act, promoting financial planning.
    • Maturity Benefits: Upon plan maturity, policyholders receive the fund value accumulated during the policy term.
    • Funding for Education: Specifically tailored to meet the rising costs of higher education for children, reinforcing its primary purpose.

    Premium Payment Modes

    • Offers flexible premium payment options, including:
      • Annual
      • Half-yearly
      • Quarterly
      • Monthly

    Studying That Suits You

    Use AI to generate personalized quizzes and flashcards to suit your learning preferences.

    Quiz Team

    Description

    Explore the features and benefits of the Max Life Shiksha Plus Super Plan, a unit linked insurance plan (ULIP) designed to secure children's education financially. This plan offers both life insurance coverage and investment options, along with tax benefits and death benefits for the policyholder's nominee.

    More Like This

    Are You Prepared?
    10 questions

    Are You Prepared?

    SkilledJubilation avatar
    SkilledJubilation
    Unit-III Linked List Quiz
    5 questions
    Data Structure Unit 3: Linked List
    68 questions
    Data Structures Unit-I Quiz
    21 questions
    Use Quizgecko on...
    Browser
    Browser