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Everything You Need To Know About Max Life Smart Secure Plus Plan

Updated On Aug 14, 2021

Max Life Smart Secure Plus plan is a comprehensive protection plan that has affordable premium rates. Max Life Smart Secure Plus plan provides financial security to the family of the life assured in case of an untimely demise of the life assured during the policy tenure. This plan has 2 plan variants namely Regular Pay and Return of Premium Variant. The life assured can choose customise the plan according to their requirements and budget. Under Max Life Smart Secure Plus plan, the life assured has the flexibility to choose from 2 death benefit payout options which are Life Cover and Increasing Life Cover, the life assured can choose the death benefit payout option at the time of policy issuance. This plan also offers a joint life cover option. 

Most importantly Max Life Smart Secure Plus plan has in-built terminal illness cover. This plan provides financial protection against uncertainties of life. 

Features of Max Life Smart Secure Plus Plan

Below mentioned are some salient features of Max Life Smart Secure Plus plan:

  • Offers in-built terminal illness cover
  • Offers flexibility to choose from 2 death benefit payout option
  • Offers flexibility to choose from 2 plan variants
  • Provides the option of joint life cover
  • Option to enhance the coverage of the policy by adding riders to the policy
  • Option to avail Accidental Death Cover under this plan

Benefits of Purchasing Max Life Smart Secure Plus Plan

Following are the benefits that you can avail from purchasing Max Life Smart Secure Plus plan:

  • Terminal Illness Cover: Max Life Smart Secure Plus plan provides an in-built terminal illness cover under which the life assured is provided with 100% of the death benefit at the time of diagnosis of a critical illness during the policy tenure. 
  • Maturity Benefit: Under the Return of Premium plan variant of Max Life Smart Secure Plus plan, a maturity benefit is provided to the life assured in case he/she survives the entire policy term. The maturity benefit shall be provided at the end of the policy tenure. 
  • Death Benefit: This plan provided as death benefit in case an unforeseen event takes place such as demise of the life assured during the policy tenure. Under this plan there is a flexibility to choose between two death benefit payout options namely Life Cover and Increasing Life Cover. Under increasing life cover the sum assured increases by 5% p.a at every policy anniversary till the 21st policy anniversary.  
  • Joint Life Cover: Under this plan the life assured can choose to include your spouse under the same policy with the help of joint life cover option under this plan. 

Max Life Smart Secure Plus Plan Eligibility 

Below mentioned is the eligibility criteria for Max Life Smart Secure Plus plan:

Parameters 

Eligibility

 

Base Cover

Accident Cover

Accelerated Critical Illness

Minimum Entry Age

18 Years

Maximum Entry Age

65 Years

Maximum Maturity Age

85 Years

Minimum Policy Term

10 Years

5 Years

10 Years

Maximum Policy Term

67 Years

50 Years

Note: For Return of Premium variant of the policy, maximum policy term is 50 Years

Premium Payment Mode

Single pay, Regular Pay or 5/10/12/15/Pay till 60

Premium Payment Term

Single/Regular/5 Pay - 10 to 67 Years

10 Pay - 15 to 67 Years 

12 Pay - 17 to 67 Years 

15 Pay - 20 to 67 Years 

Pay till 60 - Maximum 67 Years

Single/5 Pay - NA 

Regular Pay - 10 to 50 Years

10 Pay - 10 Years

12 Pay - 10 to 12 Years

15 Pay - 10 to 15 Years

Pay till 60 - 10 Years to 60 less than entry age.

Single Pay - NA

Regular Pay - 5 to 67 Years

5/10/12/15 Pay - 10 to 67 Years

Pay till 60 - 6 to 67 Years

Minimum Sum Assured

INR 20,00,000 

INR 5,00,000

INR 50,000

Maximum Sum Assured

No Limit

50% of the base sum assured.

INR 1,00,00,000

Also read 

How to Link My Aadhaar Card with Life Insurance Policy? What Are Its Benefits?

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Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.

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