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Life Insurance

Max Life Online Term Plan Plus

(UIN: 104N092V02)

Non-linked non-participating term insurance plan for comprehensive protection for you and your loved ones

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

Maturity Benefit: Nil

Death Benefit:

1. Choice of 3 death benefit options available
2. Accelerated payout in case diagnosed with 40 specified critical illnesses by choosing “Accelerated Critical Illness Benefit”


Premium paying term:

2 options: Regular Pay and Pay till 60


Policy Term

Base Plan:-
Pick a Term from 10 to 40 years (in interval of 1 year), subject to Maximum Maturity Age
Critical Illness:-
Pick a Term from 10 to 40 years. However if you have selected “Pay till 60 option” the policy term for CI benefit will be restricted till the Premium payment term only.

  • Choice of 3 death benefit options: Max Life Online Term Plan Plus helps you customize the protection required at affordable prices by offering 3 death benefit options to choose from at the time of purchase.
  • Option to pay your premiums till age 60 (you retire) and enjoy the benefit till coverage term.
  • Accelerated payout in case diagnosed with 40 specified critical illnesses by choosing “Accelerated Critical Illness Benefit” by paying additional premium
  • Additional Protection with Additional Liabilities. Enhance your cover at important mile-stones of your life by choosing Life Stage Event Benefit by paying additional premium.
  • Comprehensive protection against Death, Dismemberment & Critical Illness by adding Max Life Comprehensive Accident Benefit Rider & Max Life Waiver of Premium Plus Rider by paying additional premium.
  • Choice of 3 death benefit options:
    Max Life Online Term Plan Plus helps you customize the protection required at affordable prices by offering 3 death benefit options to choose from at the time of purchase.
    • Lump sum (Sum Assured) : 100% Sum assured as lump sum on death of life insured
    • Lump sum + Monthly 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
  • Option to pay your premiums till age 60 (you retire) and enjoy the benefit till coverage term.
  • Accelerated payout in case diagnosed with 40 specified critical illnesses by choosing “Accelerated Critical Illness Benefit” by paying additional premium.
  • Additional Protection with Additional Liabilities:
    Enhance your cover at important mile-stones of your life by choosing Life Stage Event Benefit by paying additional premium.
  • Comprehensive protection against Death, Dismemberment & Critical Illness through Riders:
    By adding Max Life Comprehensive Accident Benefit Rider (UIN 104B025V02) & Max Life Waiver of Premium Plus Rider (104B029V02), get additional protection against the risks of accidental death, disease or disability. Please refer Rider brochure for more details.
  • Hassle free online application process.
  • Tax Benefits:
    Tax benefits will be applicable on all premiums and policy benefits as per the prevailing tax laws.

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.

Benefit options Benefit details (Provided policy is in force) 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
  • Accelerated payout in case diagnosed with 40 specified critical illnesses by choosing “Accelerated Critical Illness Benefit”
  • Choice of adding Max Life Comprehensive Accidental Death Benefit Rider (UIN:104B025V02) & Max Life Waiver of Premium Plus Rider (UIN: 104B029V02) 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

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.

  • Accelerated payout in case diagnosed with 40 specified critical illnesses by choosing “Accelerated Critical Illness Benefit”
  • Choice of adding Max Life Comprehensive Accidental Death Benefit Rider (UIN:104B025V02) & Max Life Waiver of Premium Plus Rider (UIN: 104B029V02) 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

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