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Max Life Online Term Plan Plus

(A Non-Linked Non-Participating Individual Pure Risk Premium Life Insurance Plan; UIN:104N092V04)

Provide a secure financial future for your loved ones, against the risks of Death, Disease and Disability.

1 . Why This Plan? :

  • Affordable premiums (1cr cover at just Rs 563/month*)

  • Benefit from three options

  • Get Basic Cover

  • Basic Cover + Regular Income

  • Basic Cover + Increasing Income

  • Life-stage benefit to enhance insurance cover

  • Option to add protection benefits against Death, Dismemberment & Critical Illness

  • Enhance your insurance cover with “Life Stage Event Benefit”

*Standard Premium for 28-year old male, non-smoker, base plan policy term of 30 years, premium payment term of 30 years

2. Sum Assured and Eligibility :

  • Sum Assured (Base Cover): Min: Rs.25 lakhs; Max: Rs.100 crores

  • Critical Illness:- Rs. 5 lakhs to 50 Lakhs

  • Entry Age : Min.18 years , Max. Regular Pay:- 60 years / Pay till 60 - 50 years, Max Entry age for 10 pay to be added (Max Entry age for 10 pay is - 49 Years)

  • Policy Term: Min. 10 years, Max. 50 years , subject to Maximum Maturity Age (85 years)

3. Death Benefit :

Option 1: Basic Life Cover ## - Pays your nominee a fixed amount (100% sum assured)

  • Pay until the age of 60 years and get coverage up to 85

Option 2: Basic Life Cover along with Monthly Income ##- pays your family a fixed amount (100% sum assured) + a fixed sum every month

  • 0.4% of the Sum Assured is paid each month for 10 years as fixed monthly income

  • Monthly income benefit is payable over and above the base Sum Assured

Option 3: Basic Term Life Cover and Increasing Monthly Income ##- Pays your family a fixed amount (sum assured) + a fixed sum every month payable for 10 years that keeps increasing by 10% every year to account for increasing living cost

  • This plan pays 0.4% of Sum Assured each month in the first year as monthly income

  • The monthly income increases each year by 10% for the rest of the payout period

4. Maturity Benefit :

  • No maturity / surrender benefit under the plan.

  • As a pure term plan, the product provides only death benefit in case of unfortunate death of the life insured, provided the policy is in force.

5. Get Tax Benefits :

  • As per the prevailing tax laws, the premium paid is eligible for tax exemption under section 80 C as per the Income Tax Act 1961. Death benefits received by the policyholder’s nominee are also tax free.

6. Flexible Premium Payment Options :

  • Regular Pay - Premium payment term will be the same as the policy term

  • Pay till 60 - The premium payment term will be equal to (60 less Entry Age (Age last birthday)), subject to minimum premium payment term of 10 years and entry age being less than or equal to 50 years.

  • Payment Mode: Annual, Semi-Annual, Quarterly and Monthly.

7. Add Riders :

  • Max Life Comprehensive Accident Benefit Rider (CAB) - Get additional protection for accident leading to dismemberment or death

  • Max Life Waiver of Premium Plus Rider(WOP) - Get waiver of all future premiums in case of critical illness/dismemberment/death

* (For further details, please refer to the Max Life Waiver of Premium Plus Rider Brochure/Prospectus) . *Death waiver applicable only when life insured and policy holder are different

8. Seamless Claim Settlement Process :

  • Nominee contacts Max Life and a dedicated Claims relationship officer is assigned to him / her to assist in the claims process.

  • Link to Claim Settlement Section / FAQs and Numbers.

 

## How Does This Work: (link to point 3 above)

Basic Life Cover
Basic Life Cover along with Monthly Income
Basic Term Life Cover and Increasing Monthly Income

Disclaimers

The Life Insurance product is offered and underwritten by Max Life Insurance Co. Ltd. The Life Insurance contract is between the Proposer and Max Life Insurance Co. Ltd

Max Life Insurance Company Limited is a Joint Venture between Max Financial Services Limited and Mitsui Sumitomo Insurance Co. Ltd. Max Life Insurance Co. Ltd.11th Floor, DLF Square Building, Jacaranda Marg, DLF City Phase II, Gurugram - 122002 (Haryana). IRDAI Registration No. – 104. For more details on risk factors, Terms and Conditions, please read the Prospectus carefully before concluding a sale. You may be entitled to certain applicable tax benefits on your premiums and policy benefits. Please note all the tax benefits are subject to tax laws prevailing at the time of payment of premium or receipt of benefits by you. Tax benefits are subject to changes in tax laws. Trade logos displayed belong to Max Financial Services Limited and Mitsui Sumitomo Insurance Co. Ltd. respectively and are used by Max Life Insurance Co. Ltd. under a license. Insurance is the subject matter of solicitation. For more details on the rider and the various terms and conditions, please refer to the Rider Prospectus(s) available at www.maxlifeinsurance.com. For further details, call Customer helpline number -1860 120 5577

YES BANK Limited is the Corporate Agent of Max Life Insurance Co. Ltd. Registered Office: YES BANK Tower, IFC – 2, 15th Floor, Senapati Bapat Marg, Elphinstone (W), Mumbai 400 013, India. IRDAI Certificate Regn. No. CA0125 The purchase of a Max Life Insurance product by YES BANK’s customer is purely on a voluntary basis. As YES BANK is not in the business of insurance, there is no link either direct or indirect between the banking services offered by the bank to its customers and use of the insurance products.

ARN: Max Life/YBL/Website/OTP/ Jan 2020

BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS / FRAUDULENT OFFERS
IRDAI clarifies to public that

  • IRDAI or its officials do not involve in activities like sale of any kind of insurance or financial products nor invest premiums.

  • IRDAI does not announce any bonus.

  • Public receiving such phone calls are requested to lodge a police complaint along with details of phone call, number.

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