Max Life Term Insurance Plans

The thumb rule to calculate your coverage needs is that a term insurance plan needs to be 20 times of your annual income. You can also take into consideration your life stage requirements, liabilities, income, age, etc., to come to ideal term insurance coverage.

Term insurance should be taken as a financial protection cover and not seen as an investment. Term Insurance is the only life insurance option that offers such high coverage for low premiums compared to other life insurance products. The Max Life Smart Secure Plus term plan comes with a maturity benefit.

Max Life offers a "waiver of premium" rider in their term insurance plans.

Max Life is one of the leading insurance companies renowned for its term insurance plans and has one of the highest claim settlement ratios in the insurance industry.

Here are a few reasons why they are reliable insurers:

• Claim settlement ratio: Claim settlement ratio indicates the reliability and efficiency in settling claims of an insurer and Max Life Insurance has an impressive CSR indicating hassle-free and efficient claim settlement. According to IRDA reports 2020-21 Max Life has a CSR of 99.35%.
• Affordable premium rates: MAX Life Insurance offers affordable premiums and makes sure that people who opt for a high sum assured are also able to pay premiums with ease. There are also additional riders, designed for unique health and medical conditions, which you can opt for if they are suitable for your beneficiary.
• Easy availability: Max Life offers the flexibility of purchasing term plans online as well as offline, contributing to the convenience of their customers.

• High life cover at affordable premiums.
• Protection of your loved ones from unforeseen circumstances.
• Protection from illnesses.
• Long-term coverage.
• Disability benefits.
• Income options in case of unfortunate accidents.
• protection against liabilities.

Yes, the premium rates for a person with smoking habits are generally higher than for a non-smoker. This is because they are at a greater risk of developing health-related issues later in life.

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.

To renew a Max life term plan, you need to follow these below-mentioned steps:

• Enter your correct Client ID and D.O.B. to login into e-portal
• Enter the policy details of your Max Life term plan
• Select the payment method (Debit/Credit Card or Net Banking)
• Save/print premium deposit receipt on successful payment

For canceling a Max term plan, you need to visit the nearest branch of Max Term Insurance with all the policy documents and duly filled surrender form. Once the cancellation process is completed, the refund will be transferred immediately into your bank account.

No. It is not possible to change the policy duration of Max Term Insurance once the policy is issued.

Yes, NRIs can buy the Max Life Term plan online if they are Indian citizens, have ever held an Indian passport, or are the lawfully married spouse of an Indian citizen.

If you do not pay the policy premium by the due date, Max life term insurance will provide you a grace period of 15 to 30 days. In case you still fail to pay the premium of your Max Term Plan your policy will lapse immediately.

Single individuals with dependent parents, Married individuals with dependent spouse and/or children.