Max Life Term Insurance

Free Quotes From Top Companies

1

2

Phone No.
Name
D.O.B

1

2

Income
City

By proceeding you are accepting our privacy & terms

About Max Life Term Insurance

Max Life is a joint venture between Max Group and Axis Bank Limited. Over the years, it has continued to establish itself as a reliable insurer, successfully managing customer expectations. The company currently offers a comprehensive portfolio of life insurance plans through its extensive multichannel distribution network of partners and third-party agencies. Notably, Max Life term insurance plans are fairly exhaustive, each serving the different needs of their customers. These term plans come with additional riders that the user can personalize according to their financial requirements.

Term Insurance Plans offered by Max Life

Please find below a list of the active Max Life insurance term plans.

S. No. Max Life Term Insurance Plans Who Should buy?
1 Max Life Smart Term Plan Single individuals with dependent parents
Married individuals with dependent spouse and/or children
2 Max Life Smart Secure Plus Plan Individuals looking for their family's financial security.
Individuals looking for a return on premium payment.
Individuals looking for a comprehensive financial plan
3 Max Life Online Term Plan Plus People in search of greater coverage at reasonable premium rates.
Suitable for those looking for additional protection from death, disease, and disability.

**Last Updated on June, 2021

Let's delve into these plans to understand them better.

  1. Max Life Smart Term Plan

    It is a pure risk, individual, non-linked, non-participating term insurance plan. The Max Life Smart Term plan allows for customizations against critical illness, disability and death benefits. The figure below illustrates each death benefit variant available under the scheme.

    Death Benefit Variants of Max Life Smart Term Plan

    Death Benefit Variants of Max Life Smart Term Plan

    Key Features of Max Life Smart Term Plan:

    • Policyholders are eligible to receive a 100% return of premium paid upon maturity*.
    • Flexibility to increase policy period for coverage up to 85 years of age.
    • Accelerated critical illness (ACI) cover in case of medical emergencies such as
      cancer, kidney failure, and heart attack.
    • 5% loyalty discount on the premium amount for existing policyholders.

    Eligibility Criteria:

    Age at Entry Minimum: 18 years
    Maximum:< 60 years
    Maximum age at Maturity 85 years
    Policy Term ACI and Death benefit: 10 to 50 years
    Accident Cover: 5-50 years
    Premium Payment Options Single premium, Regular premium, Limited premium, Pay till 60
    Minimum Sum Assured Rs. 10,00,000

    **Last Updated on June, 2021

  2. Max Life Smart Secure Plus Plan

    A new product offered by the company, Max Life Smart Secure Plus plan is ideal for people looking to invest in a financial contingency plan to keep up with the evolving economy. Under this plan, policyholders can avail of any of the two death benefits: life cover and increasing life cover. Further, the beneficiary has the option to choose from a lump sum amount, monthly income, or as a part lump sum and a part monthly income as payout for the death benefit.

    Key features of Max Life Smart Secure Plus Plan:

    • Built-in discounts for choosing higher sum assured
    • Lower premium rates for females and non-smokers.
    • Discounts in premium applicable for existing customers.
    • Maturity benefit can be availed by the policyholder if they purchase the return of premium (ROP) variant along with the base plan.

    Eligibility Criteria:

    Age at Entry Minimum: 18 years
    Maximum: 65 years
    Maximum age at Maturity Base Death Benefit: 85 years
    ACI Benefit: 75 years
    Accident Cover: 85 years
    Policy Term Base Cover: 10-67 years
    ACI Cover: 10 to 50 years
    Accident Cover: 5-67 years
    Maximum Policy Term (ROP variant) 50 years
    Premium Payment Options Single premium, Regular premium, Limited premium, Pay till 60
    Minimum Sum Assured Rs. 20,00,000

    **Last Updated on June, 2021

  3. Max Life Online Term Plan Plus

    Max Life Online Term Plan Plus, accessible for people across 377 cities in India, offers affordable protection given their low premium options available. Additional coverage can be availed under Accident Death Benefit and Waiver of Premium Plus riders at nominal charges. It is worth noting that NRIs in selected countries can also invest in the same.

    Key Features of Max Life Online Term Plan Plus:

    The plan comes in three variants depending on the death benefit payout: basic life cover, basic life cover plus monthly income, basic life cover plus increasing monthly income. The table below attempts to highlight key features of the three variants.

    Features Basic Life Cover Basic Life Cover + Monthly Income Basic Life Cover + Increasing Monthly Income
    Death Benefit Payout Fixed sum assured payable as a lump sum to the nominee Fixed sum assured plus an additional monthly amount payable to the nominee Fixed sum assured plus an additional monthly income that increases by 10% every year for a period of 10 years
    Age of Entry Minimum: 18 years
    Maximum: 60 years
    Minimum: 18 years
    Maximum: 60 years
    Minimum: 18 years
    Maximum: 60 years
    Maximum age at Maturity 85 years 85 years 85 years
    Minimum Sum Assured Base Plan Rs. 25 Lakhs Rs. 25 Lakhs Rs. 25 Lakhs
    Critical Illness Rs. 5 Lakhs Rs. 5 Lakhs Rs. 5 Lakhs
    Premium Payment Option Regular pay, Pay till 60, 10 Pay Regular pay, Pay till 60, 10 Pay Regular pay, Pay till 60, 10 Pay
    Policy Term Regular pay 10-50 years 10-50 years 10-50 years
    Pay till 60
    10 Pay 15-50 years 15-50 years 15-50 years
    Additional Riders Comprehensive Accident Benefit
    Waiver of Premium
    Comprehensive Accident Benefit
    Waiver of Premium
    Comprehensive Accident Benefit
    Waiver of Premium

    **Last Updated on June, 2021

Max Life Term Insurance Riders

  • A unique feature, Premium Break, allows policyholders to take a break from paying the premium amount after reaching a certain point in the tenure, subject to terms and conditions.
  • Special Exit Value gives policyholders a one-time option to quit the plan with the benefit of the return of premiums.
  • Policyholders also have the option to increase the sum assured through the Voluntary Sum Assured Top-Up feature.
  • Individuals can avail of an additional Accident Cover, which the nominee is liable to receive along with the base cover.
  • Accelerated Critical Illness benefit allows the insured to cover medical expenses upon diagnosis of any of the pre-specified critical illnesses.
  • Insured can opt for Joint Life benefit to support the financial needs of their spouse.
  • In cases wherein the insured is diagnosed with a terminal illness, their financial needs can be taken care of under the Terminal Illness Cover.
  • An additional Waiver of Premium plus rider is available under this scheme.
  • Option to choose the Life Stage Add on Sum Assured benefit, which allows policyholders to increase cover amount upon reaching certain milestones in life.

Benefits of Buying Max Life Term Insurance

Benefits of Buying Max Life Term Insurance

Procedure to Purchase Max Life Term Insurance Plans

Purchase with Max Life

  • Visit the official website of Max Life Insurance.
  • Click on 'Calculate Premium' and fill in the form that comes up.
  • Add benefits and riders as per choice, then click on 'Continue'.
  • Check out the plan options and premium details and select a suitable plan.
  • Click on the 'Buy' option.
  • Upon payment, you will receive a confirmation receipt and policy documents at your registered email address.

Purchase with PolicyX.com

  • At the top of this page, you will find a section 'Get Max Life Term Insurance Quotes Online'
  • Fill in the required details and click on 'Continue'.
  • Choose your income and city, then tap 'Proceed'.
  • Select your education and occupation type.
  • From the list of insurers, choose 'Max Term Life Insurance Plan' and click on 'Buy this Plan'.
  • Upon successful payment, a receipt will be sent to your email.

FAQs

The free look period is 15 days from the date of receipt of the policy bond.

Any premium amount charged under optional benefits such as Critical Illness benefit, accident cover riders will not be a part of the benefit (return of premium) upon maturity.

Premium Back and Life Stage benefits can only be added while purchasing the policy and not after.

As a first step, an FIR must be lodged. Then you must make sure to inform your insurer to avoid any hassles. One should always maintain duplicate copies of important documents to aid in times of need.

Find Out What Customers Are Saying

(Showing latest 5 reviews only)

- 4.5/5 (44 Total Rating)

June 16, 2021

Victor Dutta

Agra

I m really happy with the riders provided by Max Life. I bought a term plan and the riders just make sure that I have a thorough cover.

June 16, 2021

Sanjeev Roy

Gandhinagar

I went to file a claim at Max Life. I was thoroughly impressed by their support. They made sure that I got my due and I m so thankful.

May 27, 2021

Gayatri Todarmal

Indore

I have excellent work experience with Policyx.com.They give proper training of all products then move to floor for work, Office atmosphere is too good everyone is friendly and supporting nature. I thank to Policyx.com😊

May 12, 2021

Ankita Singh

Pune

I am a customer of Max insurance company from the last two years and I am very happy with the service of this company. Keep it up Max life insurance.

May 10, 2021

Shashi

Bengaluru

Through out the process from booking the policy to explaing the policy was smooth. Extra effort from Ajay bharadwaj he took extra time to solve the query and answered all my questions patiently. Appreceiate. Thanks

Last updated on June, 2021

Get Instant Quotes