Following are the benefits of the Max Life Smart Secure Plus plan:
1. Death Benefit: Under this plan, in case of an unfortunate demise of the life assured during the policy term a guaranteed death benefit amount is paid to the nominee/beneficiary. Max Life Smart Secure Plus plan offers 2 different death benefit payout which is Life Cover and Increasing Life Cover. Life Cover death benefit option only offers guaranteed death benefit to the nominee/beneficiary if the life assured passes away during the policy term. Increasing Life Cover death benefit option also offers guaranteed death benefit to the nominee/beneficiary if the life assured passes away during the policy term, under this option, the sum assured chosen at the time of policy issuance increases by 5% p.a. (simple interest) on each policy anniversary till the 21st policy anniversary.
2. In-built Terminal Illness Cover: Max Life Smart Secure Plus plan comes with an in-built terminal illness cover. In case the life assured is diagnosed with a terminal illness during the policy term, 100% of the guaranteed death benefit will be paid out to the life assured.
3. Maturity Benefit: If you choose the Return of Premium variant, under this variant you can receive a maturity benefit amount if you survive the entire policy term. The maturity benefit amount will be payable at the end of the policy term.
4. Accident Cover Benefit: Under this benefit, the family of life assured will receive a benefit amount in case the life assured passes away in an accident.
5. Joint Life Cover: Under Max Life Smart Secure Plus plan you can choose to opt for joint life cover under which you can add your spouse under the same life insurance policy to secure their future.
Key Inclusions and Exclusions of the Plan
- Untimely Death
- Terminal Illness
- Spouse Cover
- Accident Death Cover
What's Not Included
- Substance Abuse
- Participation in a criminal or unlawful act
- Suicide/Attempt to suicide/Self-inflicted injuries
- Injuries caused in war, civil war, terrorist activity, etc.
- Terminal illness diagnosed and treated has outside India
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