Max Life Online Term Plan Plus
Max Life Online Term Plan Plus
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
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.
Calculate Premium Or Talk To Us
Premium Table :
Commission Disclosure :
## 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
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