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Max Life Smart Secure plan is a non-linked, non-participating, individual pure risk premium life insurance plan that is specifically designed to fulfill the growing financial needs of a family and acts as a savior to create a financial net around the family.
With Max Life Smart Secure Plan the insured gets two death benefits, including a cover for terminal illness and an exit value. In addition, this plan also provides optional benefits such as premium breaks, joint life cover, additional payout on accidental death and much more.
Max Life Smart Secure Plus Plan offers you a range of benefits including:
Minimum Age - 18 years Maximum Age - 65 years
Maximum Maturity Age - 85 years
Minimum term - 10 years Maximum term - 67 years
Base sum assured: 20 lakhs to no limit.
The policy loan is not available under Max Life Smart Secure Plus Plan.
Annual, half-yearly, quarterly & monthly
Let's understand how the Max Life Smart Secure Plus Plan works with a simple premium illustration.
Mr. Verma is looking for a simple and affordable term plan that provides financial safety to his family in case of his unfortunate demise.
His financial advisor advised him to buy the Max Life Smart Secure
Plus Plan. He visited PolicyX.com
Let's understand how the Max Life Smart Secure Plus Plan works for him with a premium illustration table.
Age of policyholder | Annual premiums | Policy tenure | Premium payment term | Total premiums paid | Sum assured |
30 years | Rs 15,495 | 40 years | 40 years | Rs 6,19,800 | Rs 1 crore |
Key Takeaways: In case of Mr. Verma's demise during the policy tenure, Rs 1 crore will be paid to their nominee.
Here are the benefits associated with the Smart Secure Plus
You can receive 100 % of the total premiums paid with this feature, in case you survive the policy. This benefit is available with both base covers and across all premium payment terms and policy terms.
With this feature, you can take a premium break or holiday from paying the premium once the policy has completed ten years of tenure.
You get a one-time option to exit the policy with an exit benefit of Return of Premiums (total premiums paid plus underwriting extra premiums paid plus loading for modal premiums, if any).
Opt to increase the sum assured at a later stage in the policy term. If the sum assured chosen, at the inception of the policy, is greater than or equal to Rs.50 lakhs, you can exercise this option after completing one policy year.
Max Life Smart Term Plan
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Max Life Smart Wealth Income Plan
You can add the following riders to your Max Life Smart Secure Plus Plan:
It will waive off all future premiums and the benefits of the policy will remain the same in case of disability, dismemberment, or diagnosis of critical illness.
In case the policyholder is diagnosed with any of the critical illnesses mentioned in the brochure then rider benefits are paid to them.
The plan offers you Joint life option which helps you cover you and your spouse under a single plan.
Max Life Smart Secure Plus provides an option to choose from 'Multiple Premium Payment Terms' as per your convenience.
Max Life Smart Secure Plus Plan offers you the option to choose the policy tenure.
Max Life Smart Secure Plus Plan provides you with a terminal illness benefit to cover terminal illnesses mentioned in the brochure.
Here is the list of exclusions associated with the plan:
Max Life Smart Secure Plan is a comprehensive term plan that offers you a range of benefits including Return of Premium, Premium Break, Special Exit Value, Sum Assured Top-up, etc. If you are still confused about which term plan is best for you then you can contact us at PolicyX.com. One of our insurance representatives will contact you shortly, understand your requirements, and choose a plan that suits your needs.
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Yes, any citizen of India (holding a valid passport issued by Govt. of India) and temporarily residing in the country of his/her present residence. ALso, a citizen of a foreign country who is based in India can purchase Max Smart Term Plan
No, fortunately, Max Life Smart Term Plan comes with a unique feature that offers an option to skip paying premiums without losing the cover during the policy term. This feature can relieve policyholders from paying premiums in the case of financial difficulties.
Yes, according to the IRDAI, a policyholder can purchase multiple term policies from the same or different insurers. However, do not forget to inform both the insurance companies before buying a second policy.
No, you cannot avail loans under Max Smart Term Plan
Yes, you can avail of the additional coverage by buying Riders, however, for the same, you need to pay additional premiums.
Yes, the plan offers a grace period of 30 days, wherein you can pay your pending premiums without getting your policy lapsed.
Listed below are the documents you need to submit to buy Max Life Smart Term Plan: Identity proof Address proof Income proof Passport size photographs
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February 5, 2023
Asia/Kolkata
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