Max Life Smart Secure Plus
  • Gives exit value
  • Joint Life Cover
  • Premium brakes
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Max Life Smart Secure Plus

Max life smart secure plus plan is a smart term insurance plan designed for you and your family with a high sum assured, protection features, and multiple features in-built. It is a versatile plan that can adjust per your financial needs and expectations. The plan is a comprehensive insurance plan that provides a wide range of benefits such as two death benefits, including terminal illness cover and an exit value. Smart secure plus plan by max life also offers its customers optional covers like joint life cover, premium brakes, payout on accidental death, and more. Customers can opt for flexible premium payment terms:

  • Single Play
  • Regular Pay
  • 5 Pay
  • 10 Pay
  • 12 Pay
  • 15 Pay and
  • Pay till 60

Max Life Smart Secure Plus Plan also offers rider benefits to the insured individual. In this article, we will explore the key features and advantages of Max Life Smart Secure Plus in details.

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Max Life Smart Secure Plus At A Glance

Entry Age 18 years
Max Maturity Age Regular Pay - 65 years
Pay till 60 - 44 years
Minimum Policy Term Base Cover - 10 Years
Accelerated Critical Illness (ACI) - 10 Years
Accident Cover - 5 Years
Maximum Policy Term Base Cover - 67 Years
Accelerated Critical Illness (ACI) - 50 Years
Accident Cover - 67 Years
Minimum Sum Assured Base Death Benefit: Rs. 20,00,000
For Secondary Life, in Joint Life: Rs. 10,00,000
Accelerated Critical Illness (ACI) Benefit: Rs. 5,00,000
Accident Cover Option: Rs. 50,000
Maximum Sum Assured Base Death Benefit: No Limit
For Secondary Life, in Joint Life: Rs. 50,00,000
Accelerated Critical Illness (ACI) Benefit: Rs. 50,00,000
Accident Cover Option: Rs. 1,00,00,000
Premium Payment Term Single Pay, Regular Pay, 5/10/12/15 Pay, Pay till 60
Premium Payment Mode Annual, Semi-Annual, Quarterly, Monthly

To Know More About The Plan Read The Brochure Provided Below:

Max Life Smart Secure Plus Plan Coverage

The base coverage for policyholders under the smart secure plus plan by Max Life Insurance is as follows:

  • Death Benefit The Plan helps you customize the protection required at affordable prices by offering 2 death benefit covers to choose from at the time of purchase.
  • Claim Payout When an insured individual purchases the Smart Secure Plus plan they can opt for a claim payout as per their requirements between a lump sum, monthly income, and part lump sum and part monthly income.
  • Terminal Illness Get free coverage against the diagnosis of terminal illness and accelerate payout up to Rs. 1 crore. No additional premium is to be paid.
  • Special Exit Value Insurance holders are offered a special exit value when they are presented with the option to receive all premiums paid back, at a specified point in the term of the policy. It is available when the Return of Premium variant is not chosen.
  • Premium Break Policyholders have the option to skip their premium payments for a year and still stay covered. 2 premium breaks will be available during the policy term and make it easier for the customers to avail the policy benefits.
  • Critical Illness Benefit Insurance holders can avail of protection against 64 listed critical illnesses under the Max Life Smart Secure Plus Plan. The plan offers an additional health cover, with an accelerated lump sum payout in case the life insured is diagnosed with any of the 64 listed critical illnesses under the plan.
  • Rider Benefits Under the plan, customers can avail of various rider benefits like Waiver of Premium Plus Rider and Critical Illness and Disability Rider.
  • Joint Life Benefit Max Smart Secure Plus plan is a versatile plan that looks after you and your spouse. The plan covers you and your spouse in a way that protects you both. For example, if your spouse faces an untimely demise before you or is diagnosed with a terminal illness the beneficiary opted by you will attain INR 10 lakhs. Similarly, in case an insured individual meets with an untimely demise or is diagnosed with a terminal illness, a death benefit of INR 50 lakhs will be payable to the nominee.

Sample Premium Calculation of Max Life Smart Secure Plus Plan

1. Non-Smoker

Death Benefit cover Life Cover Amount (in Rs.) Single Pay (in Rs.) 5 Pay (in Rs.) 10 Pay (in Rs.) 12 Pay (in Rs.) 15 Pay (in Rs. ) Pay till 60 (in Rs. ) Regular Pay (in Rs. )
Life Cover 1 crore 2,50,544 51,959 27,043 23,037 20,754 13,892 12,385
Increasing Cover 11, 476 14, 426 18, 013 19, 818 23, 016 18, 013 19, 818 23, 016

*Above is the sample premium table applicable for a non-smoker male, age 30 years covered till the age of 70 years paying annual premiums*

2. Smoker

Death Benefit cover Life Cover Amount (in Rs.) Single Pay (in Rs.) 5 Pay (in Rs.) 10 Pay (in Rs.) 12 Pay (in Rs.) 15 Pay (in Rs. ) Pay till 60 (in Rs. ) Regular Pay (in Rs. )
Life Cover 1 crore 4,00,871 83,135 43,269 36,860 33,207 22,228 19,816
Increasing Cover 1 crore 9,42,330 1,49,573 75,708 63,730 52,292 35,589 32,013

*Above is the sample premium table applicable for a smoker male, age 30 years covered till the age of 70 years paying annual premiums*

Max Life Smart Secure Plus Rider

The plan offers Max Life Waiver of Premium Plus Rider to its customers under the smart secure plus plan. By adding the Max Life Waiver of Premium Plus rider to your life insurance policy, you can avail a waiver of all future premiums in case of happening of an eventuality mentioned below to the policyholder:

  • In case Policyholder & Life Insured are same:
    • Dismemberment
    • Diagnosis of eleven specified critical illnesses
  • In case Policyholder & Life Insured are different:
    • Dismemberment
    • Diagnosis of eleven specified critical illnesses
    • Death

Exclusions of Max Life Smart Secure Plus Plan

There are certain exclusions mentioned in the policy such as:

  • Suicide Exclusion.
  • Death due to involvement in illegal activities.
  • Death due to substance or drug abuse.
  • Death due to involvement in any criminal activity.
  • Death or disabilities due to participation in hazardous activities or adventure sports.

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Max Life Term Plan

Term Plan with Return of Premium (TROP)

A simple term plan that provides a death benefit and life cover. Being a TROP it provides maturity benefits and gives you your premiums back.

Unique Benefits

  • Life Stage Option
  • Multiple Coverage Options
  • Increasing Death Benefit

Term Plan with Return of Premium (Pros)

  • Terminal Illness Benefit
  • Smart Exit Benefit
  • Acceleration Death Benefit

Term Plan with Return of Premium (Cons)

  • 1 Year WP for Suicide
  • No Policy Loans
  • No Pre-existing Conditions

Term Plan with Return of Premium (Other Benefits)

  • Death Benefit in Instalments
  • RP, WOP & 3 Riders
  • Additional Cover for Spouse

Term Plan with Return of Premium (Eligibility Criteria)

  • Entry Age - 18 Years
  • Max Entry Age - 84 years
  • Minimum Sum Assured - Adaptable
  • Maximum Maturity Age - 85 years
  • Premium Payment Term - RP/SP/LP

Max Life Saral Jeevan Bima

A simple, uncomplicated pure protection term plan that protects you and your family against fixed premiums.

Unique Benefits

  • Flexible premium payments
  • Long-term coverage
  • Least restrictions

Saral Jeevan Bima (Pros)

  • 105% Death Benefit
  • Choose to pay Premium Once
  • Max Sum Assured 25 L

Saral Jeevan Bima (Cons)

  • No Survival Benefit
  • No Maturity Benefit
  • No Surrender Benefit

Saral Jeevan Bima (Other Benefits)

  • Suicide Cover After 12 Months
  • Spouse Cover
  • Policy Revival Within 5 Years

Saral Jeevan Bima (Eligibility Criteria)

  • Entry Age - 18 Years
  • Max Entry Age - 65 years
  • Minimum Sum Assured - 5 L
  • Maximum Maturity Age - NA
  • Premium Payment Term - RP/SP/LP(5&10 Years)

Max Life Smart Term Plan

A high sum assured term plan that offers two death benefits namely Life Cover or Increasing Life Cover.

Unique Features

  • Different payout options available
  • Terminal illness cover
  • Maturity benefit available

Smart Term Plan (Pros)

  • Income Protector
  • Rider Options
  • Premium Return (ROP)

Smart Term Plan (Cons)

  • Limited Maturity Benefit
  • Plan Complexity
  • No Loan Benefit

Smart Term Plan (Other Benefits)

  • Enhance Cover at Milestones
  • Accelerated Critical Illness Benefit
  • Accident Cover

Smart Term Plan (Eligibility Criteria)

  • Entry Age - 18 Years
  • Max Entry Age - 60 years
  • Minimum Sum Assured - Adaptable
  • Maximum Maturity Age - NA
  • Premium Payment Term - RP/SP/LP

Max Life Smart Secure Plus: FAQs

1. What is the eligibility criteria for Max Life Smart Secure Plus Plan?

The eligibility criteria for Max Life Smart Secure Plus Plan is as follows

  • Minimum Entry Age - 18 years
  • Maximum Age - Regular Pay: - 65 years
    Pay till 60: - 44 years

2. Are premium payment options flexible under Max Life Smart Secure Plus Plan?

Yes, customers have numerous options for premium payment term under Max Life Smart Secure Plus Plan that are mentioned below:

  • Single Play
  • Regular Pay
  • 5 Pay
  • 10 Pay
  • 12 Pay
  • 15 Pay and
  • Pay till 60

3. What is the minimum and maximum sum assured available under Max Life Smart Secure Plus Plan?

The sum assured values are defined below:

  • Minimum Sum Assured -
    Base Death Benefit: Rs. 20,00,000
    For Secondary Life, in Joint Life: Rs. 10,00,000
    Accelerated Critical Illness (ACI) Benefit: Rs. 5,00,000
    Accident Cover Option: Rs. 50,000
  • Maximum Sum Assured
    Base Death Benefit: No Limit
    For Secondary Life, in Joint Life: Rs. 50,00,000
    Accelerated Critical Illness (ACI) Benefit: Rs. 50,00,000
    Accident Cover Option: Rs. 1,00,00,000

4. Are there tax benefits available under Max Life Smart Secure Plus Plan?

Yes, there are tax benefits available to customers under the Max Life Smart Secure Plus Plan.

5.What are the available riders under the Max Life Smart Secure Plus Plan?

The plan offers Max Life Waiver of Premium Plus Rider to its customers under the smart secure plus plan. By adding the Max Life Waiver of Premium Plus rider to your life insurance policy, you can avail a waiver of all future premiums.

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March 18, 2024

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Amritsar

February 16, 2024

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Lukhnow

January 25, 2024

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October 5, 2023

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Lukhnow

October 5, 2023

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October 5, 2023

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October 5, 2023

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October 5, 2023

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Simran Kaur Vij

Written By: Simran Kaur Vij

Simran is an insurance expert with more than 3 years of experience in the industry. She may have all the answers to your insurance queries. With a background in Banking, she proactively helps her readers to stay on par with all the latest Insurance industry developments.

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