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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.
Continue reading to explore more about the Max Life Smart Secure plan and its benefits:
Max Life Smart Term Plan
Min: 18 years
Max:
Regular pay: 65 years
Pay till 60: 44 years
Base Age: 85 years
ACI: 75 years
Accident Cover: 85 years
Base Cover- Min: 10 Years| Max: 67 Years
ACI- Min: 10 Years| Max:50 Years
Accident Cover- Min: 5 Years| Max: 67 Years
Single, Regular, Limited
Death Benefit: 20 lakh
ACI Benefit: 5 lakh
Accident Cover: 50,000
Smart Secure Plan offered by Max Life Insurance is a versatile plan that offers multiple benefits wrapped in one plan. With several benefits, this is one of the best gifts you can give your family for a happy and protected future. Below mentioned are some of the benefits that one can avail of under the plan:
Suppose you opt for the return
It allows you to create enough
This option protects the life insured
Under this benefit the family of the
You are eligible to receive the cover
When buying the Max life smart
Suppose you opt for the return of premium variant with the smart secure plus plan at the time of purchase. In that case, it entitles you to receive a maturity benefit upon surviving the policy term. With this option available, you can receive the total premium amount paid at the end of the policy term.
It allows you to create enough financial corpus for your family in uncertain times. This plan allows you to choose from different cover options and customize your own plan as per your coverage needs. Customize the protection required at affordable prices by offering 2 Death Benefit Cover options to choose from, at the time of purchase
This option protects the life insured from any terminal illness by taking care of your financial needs if you are diagnosed with a terminal illness. In such a scenario, 100 % of the guaranteed death benefit (capped at 1 crore) will be paid to you upon certification by a medical practitioner.
Under this benefit the family of the life insured receives the cover amount, along with the base cover, in case of the insured individual’s demise due to an accident. You can add this cover to your term plan (Max life smart secure plus plan) at any time during the premium payment term, subject to the conditions for the accident cover.
You are eligible to receive the cover amount upon diagnosis of any of the 40 specified critical illnesses, provided the policy is in-force and meets other terms and conditions.
When buying the Max life smart secure plus plan, you can choose a joint life cover to secure your partner’s life along with yourself. This is how it works:
After learning the many benefits of this plan, here are a few features that will help you understand this plan better.
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. The policy remains in force with the risk cover functional as per the terms and conditions of the max life term plan. You can choose this option twice during the Premium payment term. Premium Break option (available for policies with Policy Term greater than 30 years and PPT greater than 21 years).
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) at the time of exercising the option, for the base cover only.
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. You can increase the cover up to 100% of the base sum assured. The policy must have a minimum premium payment term of 5 years and a minimum policy term of 10 years for this option to be available.
Max Life has specified certain exclusions in the Smart Secure Plus Plan under which policyholders are exempted from the benefit payable. These exemptions come into effect if death occurs as a result of the following:
Suicide Exclusion
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.
ACI And Accident Benefit Rider Exclusion
Life Assured is not entitled to receive benefit under the ACI rider in case of:
You can find other term policies offered by the Max Term Insurance company in the section below:
This Plan offers two death benefit options to cater to diverse financial requirements; wherein you can choose from a Life Cover or Increasing Life Cover, depending on your preference.
Unique Features
Max Insurance Contact Address
service.helpdesk@maxlifeinsurance.com, SMS 'LIFE' to 5616188
Toll-free number: 0124 648 8900 (Available from 9:00 am to 9:00 pm IST)
Monday to Saturday
Offers financial security and a support system to the policyholder in an emergency. Provides a 5% increment in SA after every anniversary of the policy.
Unique Features
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
A simple, uncomplicated pure protection term plan that protects you and your family against fixed premiums.
Unique Benefits
A plan that provides life insurance with ROP at policy maturity, offering limited premium payment terms and flexible protection period choices.
Unique Features
A pure risk premium life insurance plan offering comprehensive protection for individuals, including death benefit options and additional riders.
Unique Features
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:
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