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Life Insurance

Max Life Super Term Plan

(UIN: 104N086V03)

A Non Linked Non Participating Term Insurance Plan

Option to cope up with rising Inflation via Increasing Sum Assured option

Flexibility to choose Death Benefit payout – ‘Lumpsum’ or ‘Lumpsum + Monthly Income’

Flexibility to choose Policy Term – 10 to 35 years

Comprehensive Insurance cover at affordable rates

Features and Benefits

Key features & benefits:

This Plan offers a unique Sum Assured option, where the Sum Assured increases by 5% every year at simple rate till the end of the Policy Term without any increase in the Premium. This helps your Life Insurance Plan cope with the rising inflation and in line with your upgrading life style

On death of the Life Insured, the nominee can choose the Settlement Option:

  • Option 1: He / she will have an option to receive the entire Death Benefit as lump sum
  • Option 2:He / she will have an option to receive 50% of Guaranteed Death Benefit as lump sum and the rest as monthly income for 10 years which will increase by 8.5% every year at simple rate to cope with rising inflation

     

Choose Policy Terms from a minimum of 10 years to maximum of 35 years

This Plan offers comprehensive insurance cover, with choice of Riders, at affordable rates to take care of your loved ones in case you are not around

How plan works:

No Maturity Benefit is payable under the plan

Payable on Death of the Life Insured during the Policy Term provided the Policy is in-force or the Reduced Insurance Cover is active. On the Death of the Life Insured anytime during the term of the Policy, the Company will pay the Guaranteed Death Benefit under the Plan.

Guaranteed Death Benefit is defined as higher of:

  • 10 times the Annualised Premium,
  • 105% of all premiums paid as on the Date of Death,
  • Guaranteed Maturity Sum Assured payable on Maturity Date,
  • Sum Assured effective on the Policy Anniversary previous or coinciding with the Date of Death

Annualised Premium is defined as premium payable on an annual mode, including extra premium (if any) but excludes all applicable taxes, cesses and levies as imposed by the Government  and any loadings for modal premiums. For more details, please refer to the detailed product prospectus available at www.maxlifeinsurance.com

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