The Max Life Smart Secure Plus is a pure risk, individual, non-linked, non-participating term insurance plan. It allows for customizations against critical illness, disability, and death benefits.
Max Life offers riders for policyholders to enhance their coverage. Let's take a look at the riders available under the Max Life Smart Secure Plus.
This benefit allows the insured to cover medical expenses upon diagnosis of any of the 40 pre-specified critical illnesses. Max Life offers two options under this benefit for users to choose from.
| Level ACI Benefit | Increasing ACI Benefit |
| Sum Assured is fixed throughout the policy term. | Sum Assured will increase at a rate of 5% p.a. till the end of the policy period. |
| Minimum Sum Assured Rs. 5 Lakhs | Minimum Sum Assured Rs. 5 Lakhs |
| Maximum Sum Assured 50% of base policy Sum Assured; or Rs. 50 Lakhs | Maximum Sum Assured 25% of base policy Sum Assured; or Rs. 25 Lakhs |
**Last Updated on August, 2021
This benefit allows policyholders to increase cover amount upon reaching certain milestones in life. The option cannot be added after the inception of the policy. In addition, this option cannot be availed if a claim for ACI has been made.
The table below lists the life stage events applicable under this rider.
| Life Stage events | Add on Sum Assured |
| Marriage* | 50% of the death benefit, not exceeding Rs. 50 Lakhs |
| Childbirth** | 50% of the death benefit, not exceeding Rs. 25 Lakhs |
| House loan*** | 50% of the death benefit, not exceeding Rs. 50 Lakhs |
**Last Updated on August, 2021
* Only once during the policy term and should not be already married
** Only twice during the policy term
*** Only once during the policy term
This is an additional cover that individuals can avail themselves for extra coverage along with the base cover. In the event that the Life Assured dies of an accident, nominees are liable to receive the Sum Assured as a lump sum in addition to the death benefit and irrespective of the death benefit variant chosen.
As the name suggests, policyholders receive 100% of the total premium paid by them throughout the policy period if they survive upon term maturity. This benefit is available with all the variants of death benefit and across all premium payment modes and policy terms.
The table below illustrates the benefits available across the 7 variants of the death benefit.
| Variants | Benefits / Riders | |||
| ACI | Accident Cover | Life Stage Add-on | Premium Back | |
| Life Cover | Available | Available | Available | Available |
| Income Protector | Available | Available | Available | Available |
| Income + Inflation Protector | Available | Available | Available | Available |
| Life Cover + Income | Available | Available | Available | Available |
| Life Cover + Increasing Income | Available | Available | Available | Available |
| Increasing Cover | Not Available | Available | Not Available | Available |
| Reducing Cover | Not Available | Available | Not Available | Available |
**Last Updated on August, 2021
| Age at Entry | Minimum: 18 years Maximum: 60 years (Regular Pay) 44 years (Pay till 60 variant) |
| Maximum age at Maturity | Base plan: 85 years ACI Benefit: 75 years Accident Cover: 85 years |
| Policy Term | Base plan: 10 to 50 years ACI Benefit: 10 to 50 years Accident Cover: 5 to 50 years |
| Premium Payment Options | Single premium, Regular premium, Limited premium, Pay till 60 |
| Minimum Sum Assured | Base plan: Rs. 10,00,000 ACI Benefit: Rs. 5,00,000 Accident Cover: Rs. 50,000 |
**Last Updated on August, 2021
*ACI stands for Accelerated Critical Illness
The table below illustrates each death benefit variant available under the scheme.
| Life Cover | Nominee receives the sum assured as lump-sum immediately after the demise of the life insured |
| Income Protector | Nominee receives fixed level monthly income for up to 10, 15, or 20 years |
| Income + Inflation Protector | Nominees receive an increasing amount in monthly income for up to 10, 15, or 20 years. The first month's income is as chosen by the policyholder; subsequent monthly income increases by 10% p.a. |
| Life Cover + Income | Nominees receive the sum assured as a lump sum plus fixed monthly income (0.4% of lump sum) for 10 years |
| Life Cover + Increasing Income | Nominees receive the sum assured in a lump sum plus an increasing amount of monthly income payable for a period of 10 years. The first month's income is 0.4% of a lump sum; subsequent monthly income increases by 10% p.a. |
| Increasing Cover | Sum assured increases by 5% p.a.; upon the death of insured, the nominee receives lump sum effective as of last policy anniversary |
| Reducing Cover | Sum assured decreases by 5% p.a. every 5thpolicy year; upon the death of insured, nominees receive lump sum effective as of last policy anniversary |
**Last Updated on August, 2021
Sample Premium Illustration
In the table below, we have presented the annual premiums payable against each death benefit variant based on a sample scenario. We have assumed the policyholder to be a 30 years old, non-smoker male who bought the Max Life Smart Secure Plus for coverage till the age of 70.
| Death Benefit Variant | Cover Amount (in ₨) | Regular Pay (in ₨) | Limited Pay (in ₨) | Pay till 60 (in ₨) | Single Pay (in ₨) | |||
| 5 Pay | 10 Pay | 12 Pay | 15 Pay | |||||
| Life Cover | 1 Crore | 10,800 | 52,800 | 24,300 | 20,600 | 17,700 | 13,600 | 2,21,400 |
| Income Protector* | 1 Lakh / month | 11,955 | 58,206 | 26,751 | 22,832 | 19,598 | 15,188 | 2,41,643 |
| Income + Inflation Protector** | 1 Lakh / month | 14,983 | 73,249 | 33,711 | 28,578 | 24,555 | 18,867 | 3,07,148 |
| Life Cover + Income*** | 1 Crore | 15,033 | 73,495 | 33,825 | 28,674 | 24,638 | 18,931 | 3,08,180 |
| Life Cover + Increasing Income**** | 1 Crore | 16,793 | 82,100 | 37,785 | 32,031 | 27,522 | 21,147 | 3,44,259 |
| Increasing Cover | 1 Crore | 17,600 | 87,800 | 39,500 | 33,200 | 28,300 | 21,900 | 3,72,700 |
| Reducing Cover | 1 Crore | 9,300 | 44,200 | 20,400 | 17,500 | 15,100 | 11,800 | 1,82,800 |
**Last Updated on August, 2021
* Sum Assured at Inception: Rs. 97,99,000
** Sum Assured at Inception: Rs.1,38,73,000
*** Monthly income: Rs. 40,000; Sum Assured: Rs.1,39,19,600
**** 1st year monthly income: Rs. 40,000; Sum Assured: Rs. 1,55,49,200
Max Life has specified certain exclusions in the Smart Secure Plus under which policyholders are exempted from the benefit payable. These exemptions come into effect if death occurs as a result of the following:
In the event that the Life Insured, irrespective of her/his sanity, dies by suicide within 12 months from the date of policy inception, or the date of revival of the policy, the policy shall stand terminated, effective immediately.
Life Assured is not entitled to receive benefit under the ACI rider in case of:
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Corporate Office Address:
Max Life Insurance Co. Ltd 11th floor, DLF Square, Jacaranda Marg, DLF City Phase II, Gurugram, Haryana 122002
Online Plus Helpline:
Phone: 0124 648 8900 (09:00 AM to 09:00 PM Monday to Saturday)
Mail:online@maxlifeinsurance.com
Message: SMS 'LIFE' to 5616188
Customer Service Helpline:
Phone: 1860 120 5577 (9:00 AM to 6:00 PM Monday to Saturday)
NRI Helpdesk:
Phone: 0124 5098162; 0124 4905150 (9:00 AM to 6:00 PM Monday to Saturday)
Mail: nri.helpdesk@maxlifeinsurance.com
* Customers can also chat or write to the company to register feedback, queries, etc.
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(Showing latest 5 reviews only)
August 18, 2021
Rachita Kamble
PuneJune 16, 2021
Victor Dutta
AgraI 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
GandhinagarI 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
IndoreI 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
PuneI 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.
Last updated on August, 2021
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Max Life is a very nice company. I am glad that I chose this company. The premiums are affordable, and I have peace of mind that my family will be financially secure after my death.