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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

Minimum / Maximum Entry Ages 18-60 years (age as at last birthday).
Expiry Age
(Age Last Birthday)
75 years (age as at last birthday)
Minimum Sum Assured Rs. 50,000
Maximum Sum Assured Lower of Base Plan Sum Assured or Rs. 1 Cr per life
Rider Term 10 years to 35 years. The term of the rider shall be equal to or less than the term of the base plan.
Premium Payment Term The premium payment term of the rider shall be equal to less than the term of the base plan.
Minimum Premium As Applicable for Minimum Rider Sum Assured
Premium Payment Mode Rider offers four payment modes - Annual, semi-annual, quarterly, and monthly. However, if the rider is attached with Max Life Online Term Plan Plus, then only Annual Mode is allowed.

This rider can be opted for by both males and females, smokers and non-smokers.

Max Life Waiver of Premium Plus Rider – A Non-Linked Rider (UIN: 104B029V01) You are planning for your family's financial future and have made the right choice by purchasing a life insurance policy that ensures long-term financial protection for your family. While you have taken the first important step, it is critical that the policy is continued for its entire term, in order to enjoy the policy benefits. However, in case of any unfortunate event, how can you ensure that the policy is continued and you and your family continue to avail its benefits as promised? We at Max Life Insurance understand this and which is why we offer you a rider to make your financial planning comprehensive.

You can add Max Life Waiver of Premium Plus Rider to your life insurance policy and get waiver of all future premiums in case of Death, Disease or Dismemberment. The benefits under this rider are payable over and above the base plan benefits.

Rider Term Minimum Rider Term: -Same as base plan Premium Payment Term or remaining Premium Paying Term of base plan in case the rider is not taken at inception, subject to a minimum rider term of 5 years. Maximum Rider Term: - Same as base plan Premium Payment Term, subject to a maximum of 35 years and Policyholder not exceeding age of 70 years (age as at last birthday).
Entry Ages (age as on last birthday) Minimum Entry Age – 18 years
Maximum Entry Age - 65 years
Premium Payment Term Same as Rider Term
Premium Payment Mode Same as base plan
Maximum Maturity Age (age as on last birthday) On policy anniversary coinciding with or immediately following the Policyholder attaining age of 70 years.
Rider Benefit (To know the detailed events under which the benefits are payable, please refer to the sales brochure attached below) Rider provides waiver for all future premiums under a policy and all other attaching riders on earlier happening of either of the following events, provided the base policy and attaching riders are in force:
Critical Illness; or
Dismemberment; or
Death (only when Life Insured and Policyholder are different individuals) Once claim under this rider is accepted and future premium(s) are waived; then in case of termination of base policy due to happening of any insured event or surrender (only if surrender value is available under the base policy), the following benefits are payable:-

All applicable benefits under the base policy
The present value of the future Premium (including rider premium, if any) to be waived, discounted at the rate of 6.5% p.a.
Minimum Premium The Minimum Annual Premium is Rs. 2 per annum for age at entry of 18 years (age as at last birthday),Rider Term of 5 years and Base Plan Premium of Rs.1,000.
Maximum Premium The maximum rider premium will be calculated basis the maximum base plan premium to which the rider is attached subject to maximum of Rs. 3,50,000 per life.
The Max Life Waiver of Premium Plus Rider premium shall, in no case exceed,

30% of premiums (including extra premium, if any) payable under the base policy when attached to a savings plan, and
100% of premiums (including extra premium, if any) payable under the base policy when attached to a term plan.

For further details, please refer to the Max Life Waiver of Premium Plus Rider Brochure, Rider Contract, Rider Rates & Rider Leaftet

Life Insurance Coverage Is Available In This Product. This Life Insurance Product Is Offered and Underwritten By Max Life Insurance Co. Ltd. The Life Insurance contract is between the Proposer and Max Life Insurance Co. Ltd.

Max Life Insurance Company Limited is a Joint Venture between MaxFinancial Services Limited and Mitsui Sumitomo Insurance Co. Ltd. Max Life Insurance Co. Ltd., 11th Floor, DLF Square Building, Jacaranda Marg, DLF City Phase II, Gurgaon - 122002 (Haryana). IRDAI Registration No. – 104. For more details on the risk factors, Terms and Conditions, please read the sales brochure carefully before concluding a sale. You may be entitled to certain applicable tax benefits on your premiums and policy benefits. Please note all the tax benefits are subject to tax laws prevailing at the time of payment of premium or receipt of benefits by you. Tax benefits are subject to changes in tax laws. Insurance is the subject matter of solicitation. For further details, call Toll free number 1800 200 4006

Max Life Online Term Plus Plan (UIN: 104N092V01) can only be purchased online at Max Life website, Axis Bank Limited does not solicit this product as a Corporate Agent.

Axis Bank Limited is the Corporate Agent of Max Life Insurance Co. Ltd. Axis Bank Limited, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai – 400025. IRDAI Corporate Agent License No: CA0069 The purchase of a Max Life Insurance product by Axis Bank's customer is purely on a voluntary basis. As Axis Bank is not in the business of insurance, there is no link either direct or indirect between the banking services offered by the bank to its customers and use of the insurance products.


IRDAI clarifies to public that

  • IRDAI or its officials do not involve in activities like sale of any kind of insurance or financial products nor invest premiums
  • IRDAI does not announce any bonus

Public receiving such phone calls are requested to lodge a police complaint along with details of phone call, number.

ARN No Max Life/Axis/Web Content/OTP+/ Aug 2016




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