Max Life Whole Life Super Plan

Max Life Whole Life Super Plan is a conventional Whole Life Plan that offers life coverage till the insured turns 100 years. Thus you will be able to financially secure the future of your family as long as you live.   

Max Life Whole Life Super Plan - Key Features:

  • It is a with-profit plan with some specified options for paying the premium.
  • After the completion of two years , the policy bonuses are declared, and there are 3 options to avail them:
    • Purchase Paid-up Additions - The bonus is also paid to grow the Sum Assured which is also used to earn extra advantages.
    • Paid in Cash - Cash payouts are used every year to avail bonuses.
    • Premium Offset - The bonus can be used to offset the upcoming premiums.
      • Terminal Bonus is paid to the policyholder after completing 10 years as a benefit on surrender, maturity or death   

Max Life Whole Life Super Plan - Advantages

On the demise of the life insured, accrued paid-up additions, Guaranteed Death Benefit, and Terminal Bonus are paid to the nominee.  The policy offers a guaranteed death benefit, which is higher of Maturity SA or 11 times of the annual premium or 105% of the total premiums paid.

When the policy reaches a Maturity period, Guaranteed Maturity SA along with accrued Paid-up Additions and Terminal Bonus are paid. The Terminal Illness Benefit offers 50% of the Sum Assured which is paid right away to the user if the policyholder gets diagnosed with any terminal ailment.

The policyholder enjoys Income tax benefits on the premium paid and under section 80C and claims received under 10(10 D) under Income Tax Act.

Max Life Whole Life Super Plan - Specifications 




Entry Age (Last Birthday)

18 years

60 years

Maturity Age (Last Birthday)


100 years

Policy Term (PT) in years

100 – entry age

Premium Paying Term (PPT) in years

10, 15, 20

Premium Paying Frequency

Annual, half-yearly, quarterly, monthly



No limit

Sum Assured


No limit


Details About Premium

Annual premium in Rupees

Age / PPT (years)

















 Max Life Whole Life Super Plan - Policy Details

Grace Period: The policyholder gets a grace period of 15 days to pay the premium in monthly mode, and when it comes to other modes, there is a period of 30 days allowed to clear all dues. Moreover, if the insured fails to deposit the premium within the grace period, then the policy will lapse.

Surrender Advantage: The policyholder is permitted to give up the policy of paying the premium for complete 3 years. The Surrender Value acquires the higher among Special Surrender Value (SSV) or Guaranteed Surrender Value (GSV).

GSV = GSV% of total premiums paid + GSV % of accumulated paid-up additions

SSV = Reduced paid-up SA/1000 * SSV Factor

Discontinued Premium Payment

If the policyholder fails to pay the premium within the due date, then a period of 30 days is provided as a Grace period from the first due date (15 days for those who have opted for monthly mode) of premium payment. Moreover, you need to know that the risk cover will be active during this period.

Free Look Period:

There are times when we regret our decisions and wish we could have changed them. Well, this is possible in case of taking this policy, as those who are not satisfied with the terms and conditions after taking the policy have the option to abandon the plan within 15 days of receiving the documents of the policy. The only condition is that the user must not have made claims during this period.


The bonus Paid-up Additions that are under bonus feature can be withdrawn to a minimum sum of Rs. 5000.

Max Life Payor rider is accessible under the plan

Higher coverage is provided at Lower premium rates.


If the policy taker commits suicide within a year of taking the policy, then the company provides higher of the Surrender Value or the premiums paid. Moreover, in case of total premiums paid by the policyholder, the money  is refunded,  if the Surrender Value is not acquired by the policy.

Documents Required

To take the policy, you need to submit an Application form or a proposal form with proper medical records, KYC documents and address proof. There might be certain cases where you might have to undergo a medical examination, depending on your age or the sum assured you need/want.

Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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