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Life Insurance

Max Life Online Term Plan Plus

Balance equity and debt exposure automatically to grow wealth, secure it and fulfil your life’s goals

A Comprehensive cancer plan

Covering all stages of cancer

Lumpsum Payouts

To cover medical expenses across all stages

Waiver of premium

For entire policy term in case diagnosed with early stages of cancer

Income benefit

For 5 years in case diagnosed with major stage cancer along with lumpsum

Features and Benefits

  • Comprehensive Insurance cover at affordable rates
    Max Life Online Term Plan Plus offers a comprehensive insurance cover, to take care of your loved ones in case you are not around, at affordable rates.
  • Customize your plan with choice of 3 cover options
    • Lump sum: 100% Sum assured as lump sum on death of life insured
    • Lump sum+Income:100% Sum assured as lump sum on death of life insured + level monthly income for 10 years
    • Lump sum+ Increasing Monthly Income: 100% Sum assured as lump sum on death of life insured + monthly income for 10 years. This income increases every year at 10% simple rate of interest
  • Comprehensive protection against Death, Dismemberment & Critical Illness through Riders
    By adding Comprehensive Accidental Death Benefit Rider (UIN 104B025V01) & Waiver of Premium Plus rider (104B029V01), get additional protection against the risks of accidental death, disease or disability. Please refer rider brochure for more details.
  • Tax Benefit
    Tax benefits will be applicable on all premiums and policy benefits as per the prevailing tax laws.
  • High Sum Assured Discounts and rewards for healthy lifestyle
    Discount built in the plan for higher sum assured & lower premium rates for Non-smokers.

The Death Benefit under the Max Life Online Term Plan Plus is highest of:

  • 10 times the annualised premium*
  • 105% of all the premiums paid as on date of death
  • Minimum guaranteed sum assured on maturity
  • Absolute amount assured to be paid on death

*Annualised Premium includes extra premium (if any) but excludes any loadings for modal premiums and remains same irrespective of the premium payment mode.

This plan is a Pure Term plan that provides ONLY death benefit and NO maturity benefit.

Further, absolute amount assured to be paid on death will depend on the Death Benefit option chosen by the Life Insured at inception of the policy.

Death Benefit options Death Benefit details (Provided policy is in force) Effective Total Protection Value
1. Sum Assured 100% of the policy Sum Assured as chosen at inception of the Policy, paid immediately on death of Life Insured. 100% of Sum Assured
2. Sum Assured plus Level Monthly Income 100% of the policy Sum Assured as chosen at inception of the Policy, paid immediately on death of Life Insured. Plus 0.4% of the policy Sum Assured per month, for 10 years 148% of Sum Assured
3. Sum Assured plus Increasing Monthly Income 100% of the policy Sum Assured as chosen at inception of the Policy, paid immediately on death of Life Insured. Plus Increasing monthly income for 10 years wherein the first year monthly income shall be 0.4% of the policy sum assured and shall increase every year by 10% p.a. (simple interest) of the first year monthly income. 169.6% of Sum Assured

Choice of adding Max Life Comprehensive Accidental Death Benefit Rider (UIN:104B025V01)* & Max Life Waiver of Premium Plus Rider (UIN: 104B029V01) to make your protection plan more comprehensive.

*For more details on the rider and the various terms and conditions, please refer to the rider brochure

Are you eligible:

Feature Specification
Minimum / Maximum Age at Entry (age last birthday) 18 years / 60 years
Maximum Maturity Age (age last birthday) 75 years
Policy Term Pick a Term from 10 to 40 years (in interval of 1 year), subject to Maximum Maturity Age
Sum Assured Minimum: Rs. 25 lacs, Maximum: Rs. 100 crores The sum assured is available in multiples of Rs 1 lac only and shall remain same for the entire policy term, subject to board approved underwriting policy.
Maximum Expiry Age 75 years (age as at last birthday)
Premium Payment Modes Annual, Semi – Annual, quarterly & monthly premium payment modes. The premium payment mode can be changed during the premium payment term.

About Premium Payment Mode -

Premium Payment Mode: Annual, Semi-Annual, Quarterly and Monthly Mode

Minimum Premium: Rs. 2,200 (excluding extra premium, modal extra, service tax and cesses as applicable from time to time; annual mode). Please note that service tax and cesses are collected over and above the policy premium.

Maximum Annual Premium : Rs. 1,12,30,000 (excluding extra premium, modal extra, service tax and cesses as applicable from time to time; annual mode). Please note that service tax and cesses are collected over and above the policy premium.

Rider:

Max Life Comprehensive Accidental Death Benefit Rider (UIN -104B025V01):

Life is full of uncertainties. You do not want an accident to make a dent in your plans. We at Max Life Insurance understand this, which is why, we offer you Max Life Comprehensive Accidental Death Benefit Rider.

You can add Max Life Comprehensive Accidental Death Benefit Rider to your policy to provide additional protection against an unfortunate accident. The rider provides additional protection benefit in case you meet with an accident, leading to an unfortunate dismemberment (listed impairments) or death. The benefits under this rider are payable over and above the base plan benefits.

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