February 1, 2024
Coimbatore: Max Life Insurance Company Ltd. (“Max Life” / “Company”), has launched Smart Wealth Annuity Guaranteed Pension Plan – SWAG Pension Plan (UIN – 104N137V02) – A Non-Linked, Non-Participating Individual/Group General Annuity Savings Plan. Keeping in line with new-age consumers’ needs for solutions tailored to their specific needs, SWAG Pension Plan redefines the landscape of retirement planning, combining flexibility, security, and personalisation for individuals and groups alike.
Max Life’s India Retirement Index Study 3.0 reveals a significant worry among urban Indians, with almost three in five expressing apprehensions about their savings depleting within a mere ten years of retirement. SWAG Pension Plan draws from this insight and offers a robust solution to ensure lifetime income aligned with the customers’ lifestyles, securing not only their future but also that of their loved ones. This unique offering empowers customers to tailor their own policies, choosing from a diverse array of annuity options, all while keeping up with growing inflation* and enjoying the flexibility of personalised income timing. Further, the customers have the freedom to select from a range of Return of Premium options, enabling them to choose their plans to meet specific financial objectives.
Prashant Tripathy, Managing Director & CEO of Max Life, said, “With considerable demographic changes on the horizon, getting financially ready for retirement is becoming crucial for a vast majority of the India’s workforce. Smart Wealth Annuity Guaranteed Pension Plan – SWAG Pension Plan stands as a testament to our commitment to deliver innovative solutions that resonate with the evolving needs of our customers. Through its customisable features and distinctive variants, this plan empowers individuals to proactively shape their retirement journey and enables them to realise their aspirations with a strong sense of financial empowerment.”
SWAG Pension Plan is meticulously crafted to address the concerns of today’s customers, providing a unique blend of annuity options and customisable features. The introduction of this plan reaffirms Max Life Insurance’s commitment to delivering innovative solutions that cater to the diverse and evolving requirements of the company’s valued customers.