Max Life Term Insurance Plans

Max Life Term Insurance Plans is designed to provide financial stability to the family of policyholders in a situation where the insured person dies during the policy period. In such circumstances, the nominee declared by the policyholder receives the death benefit amount which is pre-defined under the term policy. The term insurance plan reduces the fear and prepares you for the uncertainties of life. It can be purchased by anyone from young individuals to parents. The max life term insurance plans provide significant life cover at the amount of premium that you can easily afford.

Max Life Term Insurance Plans

Max Life Insurance offers 5 term insurance plans which are as follows:

1. Max Life Smart Term Plan - The Smart Term Plan allows policyholders to create their own term insurance policy by choosing options of their choice from different death benefit variants, various premium payment terms, choice of selecting desired policy term, optional accelerated critical illness benefit, and premium back option by paying an additional premium. In addition to this, this policy also provides comprehensive protection against demise, accidental death, disability as well as a critical illness by including the optional waiver of premium plus rider and accident cover option.

2. Max Life Super Term Insurance Plan - This term insurance policy puts your family on priority by offering comprehensive term insurance at an economical price to look after your loved ones in a situation when you are not around. It has a unique feature where your sum assured amount will increase by 5% yearly till the end of policy term. It is a feature which is introduced to help you cope with soaring inflation. The policyholders will be allowed to choose a policy term from 10 years to 35 years.

3. Max Life Premium Return Protection Plan - When it comes to term insurance plans, they ensure the financial soundness of your family in your absence, but this plan extends its benefits by returning all the premium amount paid by the policyholders at the end of the term if they survive. This term insurance policy provides the base sum assured amount as death benefit and half of that amount as an inbuilt accident death benefit. The best part of this policy is that it allows you to choose the term period for 20, 25, or 30 years by paying premiums for just 11 years.

4. Max Life Smart Secure Plus Plan - The Smart Secure Plus Plan allows you to personalise the coverage protection at a reasonable price by providing 2 death benefit covers to choose from at the time of term insurance plan purchase. This policy also empowers the beneficiary or nominee to select the mode of the payout which comprises lump sum payment, monthly income payment, and partly in a lump sum and partly as monthly income. The smart secure plus cover gives you coverage for terminal Illness as well and returns your complete premium amount on your survival till maturity.

5. Max Life Online Term Plan Plus - The Online Term Plan Plus gives you a choice of 3 death benefit options to help you customize your plan as your budget. It also allows you to pay a premium till the age of 60 years or for 10 years to enjoy its benefit till the term of coverage. With optional critical illness benefit, you can opt for an option to get coverage for 40 specified critical illnesses. Also, you can also choose to expand your cover at significant phases of life with life stage event benefit cover by paying an additional premium amount.