Max Life Smart Secure Plus Plan

For anyone who thinks about the future, financial stability is surely something that is in the minds of every individual. And in such a case, a plan is required that rightly aligns with the needs and also provides security comprehensively.

Well, the Max Life Smart Secure Plus Plan will help to create a comprehensive financial plan.

What is Max Life Smart Secure Plus Plan?

In the rapidly changing economy, it becomes a challenge to manage expenses. A contingency plan is important to accommodate the financial requirements of the family. The Max Life Smart Secure Plus Plan comes in handy and enables the creation of a financial cushion that could easily accommodate any changes.

The Max Life Smart Secure Plus Plan is ideally designed to fulfil the financial security needs and provide a support system that is dependable in case of any emergencies. This plan offers two death benefit. The individual will obtain inbuilt benefits such as the cover for terminal ailment and the special exit value. The special exit value is applicable for the NROP and the policy tenure is 40 and above.

The Max Life Smart Secure Plus Plan is a one-stop solution and ensures that the insurance needs are duly covered. This plan is going to put all the fears and apprehensions at rest and provide peace of mind. The Max Life Smart Secure Plus Plan is a comprehensive protection solution that can be personalized at cost-effective premiums. 

Why Max Life Smart Secure Plus Plan?

The cost of living is surely rising with every passing year. At the same time, the threats to life have also multiplied. In today's times, a life insurance plan is of utmost importance for the family. 

The Max Life Smart Secure Plus Plan will protect an individual against any financial trouble such as a job loss, income loss, the ongoing pandemic, and so forth. Having the right plan will let one remain prepared for any sort of uncertainties. The Max Life Smart Secure Plus Plan is going to be a valuable addition to the financial plan because of the multiple and varied features and benefits.

Listed below are some reasons to choose the Max Life Smart Secure Plus Plan in 2021:

Financial Security

The accessibility of the option of death benefit and various add-on benefits make this term plan ideal to obtain financial protection. Anyone who understands the financial requirements and likewise assess the future needs, then the right blend of benefits and features can be chosen under the Max Life Smart Secure Plus Plan. This helps to build an inclusive financial protection plan that will always shield the loved ones. Anyone who has immediate dependents should consider investing in the Max Life Smart Secure Plus Plan. 

The Flexibility of Claims Payout

The Max Life Smart Secure Plus Plan offers the flexibility of claims payout to the nominee to receive the sum assured as per the need in case the policyholder passes away. One can choose to receive the death benefit as the lump sum amount or even regular payments to replacing the income source monthly or as per the choice of the nominee as the combination of both. The term plans are the long-term plan of protecting the needs of the family might be transformed by the period the death benefit is received. Therefore, the option of multiple pay-out can enable to use of the money as per the needs. 

Component of Health

The Max Life Smart Secure Plus Plan mainly comes with the terminal illness benefit wherein the person insured is entitled to a sum assured of Rs 1 crore in case any disease is diagnosed. The health component of the plan is an advantage taking into account the rise in the case of critical ailments in recent years.

Eligibility Criteria of Max Life Smart Secure Plus Plan

The table below shows the eligibility criteria of the Max Life Smart Secure Plus Plan: 

Parameter Details
Entry Age For Limited/ Regular Pay: 18 years to 60 years
For pay Until 60: 18 years to 44 years years
Maturity Age Base Death Benefit: 85 years
Total Permanent Disability and Critical Illness: 75 years
Accident Cover Option: 85 years
Critical Illness: 85 years
Critical Illness and Total and Permanent Disability: 75 years
Policy Term
Benefit Type Policy Term
Base Cover 10 years to 67 years
Accident Cover 10 years to 67 years
Critical Illness 10 years to 67 years
Total and Permanent Disability 10 years to 57 years
Critical Illness and Total Permanent Disability 10 years to 57 years

Premium Payment Term
Premium Payment Term Accident Cover Policy Tenure Base Plan Policy Tenure
Single Pay NA 10 years to 67 years
Regular Pay 10 years to 67 years 10 years to 67 years
05 pay 10 years to 67 years 10 years to 67 years
10 pay 10 years to 67 years 15 years to 67 years
12 pay 10 years to 67 years 17 years to 67 years
15 pay 10 years to 67 years 20 years to 67 years
Pay Until 60
The premium payment term is going to be equivalent  to 60 years of age at entry
The policy term will be greater than the premium payment term and can go up to 67 years maximum The policy term will be greater than the premium payment term and can go up to 67 years maximum
Sum Assured Base Death Benefit: Rs 25 lakh
Total Permanent Disability and Critical Illness: Rs 1 lakh
Accident Cover Option: Rs 50,000

Note: For the variant of Return of Premium, the policy tenure for base cover ad the accident cover is 50 years maximum.

Features of Max Life Smart Secure Plus Plan

The needs of every individual are different. The following are some of the key features of the Max Life Smart Secure Plus Plan: 

Premium Break

One of the unique features of the Max Life Smart Secure Plus Plan is the premium break. This implies that an individual can take a premium break or a holiday from the premium paying once the policy has completed the term of 10 years. When it is decided to take the premium break, the policy will be active with the risk cover function as per the terms and conditions mentioned in the plan. One has the option to choose twice during the premium payment term. The option of premium break is accessible for the policies with policy tenure greater than 30 years and the premium payment term is greater than 21 years.

Return of Premium

Under this plan, one can obtain 100 per cent of the complete premiums that are paid with the return of a premium feature, in case the policy is outlived. This benefit is accessible with both base covers and across all policy and premium payment terms. Anyone who wishes to get the money back towards the end of the policy term then the Max Life Smart Secure Plus Plan is ideal. 

Voluntary Sum Assured Top Up

This feature lets to increase the sum assured at the stage later in the policy tenure. When the sum assured opted at the beginning of the policy is either greater than or equal to Rs 50 lakh then this option can be easily exercised after the policy has completed one year. The cover can be increased up to 100 per cent of the base sum assured. The plan will have a minimum premium payment term of 5 years and a policy tenure of a minimum of 10 years from the option to be accessible. The amount will be payable in case the insured passes away or if a terminal illness is diagnosed.  The option can be exercised after completing 1 year waiting period from the policy issuance time. 

Special Exit Value

With this feature, an individual has the one-time option to exit the plan with an exiting benefit of the Return of Premium during the option of exercising for the base cover. Once the premiums have been duly returned, the policy will then be terminated. This option is accessible when the policy tenure for the plan is 40 years and more. This is not available with the return of the premium variant.

Other Features of Max Life Smart Secure Plus Plan

Low Premium Rate for Female Life

There will be a three-year age setback over the male rates for the female life for all the premium payment term apart Pay till 60. Also, where the corresponding rate is not accessible, the available lowest premium rate for the male will be used. 

Smoker/ Non-smoker 

The non-smokers have a low premium rate. However, the accelerated CI benefit and accident cover rates of premium do not differ by the status of a smoker. 

High Sum Assured on Discount

In the plan, there are discounts built when a high sum assured is chosen.

Benefits of Max Life Smart Secure Plus Plan

Here is a rundown of the benefits of the Max Life Smart Secure Plus Plan:

Death Benefit

It lets one establish a financial cushion for the family with an increasing life cover or life cover. The Max Life Smart Secure Plus Plan permits to choice of the variant and also ensures that the sum assured is sufficient for the times to come. The plan can be customized, cover the bases and keep the family secured during any challenging times. This plan will help to map the financial requirements and choose the option of life cover that rightly aligns with the fitting objectives. 

Maturity Benefit

When one opts for the return of the premium variant at the time of buying the plan then, in that case, the individual is eligible to receive the maturity benefit when the policy term is outlived. With this option accessible, one can easily receive the total premium amount when paid towards the policy term ends.

Accident Cover

The family of the insured will receive the cover amount with the base cover in case the individual insured passes away due to an accident. The individual can add this cover to the Max Life Smart Secure Plus Plan at any point in time during the premium payment term subject to the accident cover conditions.

Accelerated Critical Illness 

This benefit lets an individual be entitled to obtain the cover amount in case of diagnosis of any 40 critical illnesses specified provided the policy is active and also meets the various terms and conditions. 

Terminal Illness Cover

In case a terminal illness is diagnosed, then under such a circumstance, 100 per cent of the guaranteed death benefit that is capped at Rs 1crore will be paid upon the certification given by a medical practitioner. 

Joint Life Benefit

The Max Life Smart Secure Plus Plan gives an individual the option to opt for a joint life cover and secure the life of the partner as well. In case the spouse passes away before the insured or gets diagnosed with any terminal illness then a guaranteed death benefit of Rs 10 lakh will be payable to the nominee. The primary life cover will be continued at a premium reduced and the original sum assured that will be chosen and be payable to the spouse during the pay-out option of the choice. In case the individual suffers an unfortunate event before the spouse or is diagnosed with a terminal illness and passes away, the nominee will receive the guaranteed death benefit of Rs 50 lakh. It also comes along with the built-in waiver of premium that means the premium will be waived off for the spouse.

Additional Rider Benefit Options of Max Life Smart Secure Plus Plan

With the base benefits of the Max Life Smart Secure Plus Plan, one has the option to choose from the different riders as an add-on to the policy. Make the term cover comprehensive by adding the following riders:

Waiver of Premium Plus Rider

This rider will provide the waiver of all the future premiums under the plan and all the other attaching riders on the happening earlier of the listed below events provided the base policy and attaching the riders that are in force:

  • Dismemberment
  • Critical Illness
  • Death (This will be implied when the policyholder or life insured are different individuals only then the rider benefit will be paid upon the demise of the policyholder.)

Critical Illness and Disability Rider

This rider will provide benefit upon the diagnosis of any critical illnesses covered.

Important Terms and Conditions of Max Life Smart Secure Plus Plan

The following are some of the important terms and conditions of the Max Life Smart Secure Plus Plan:

Free Look Period

The policyholder has a period of 15 days when bought online and 30 days when it has been sourced via the mode of distance marketing. The time is given to review the policy document right from the date of receipt of the policy. In case the policyholder disagrees with any terms and conditions, the policy can be returned giving the reason. The policyholder will get the refund of the paid premiums subject to the conditions, and so forth.

Grace Period

The grace period of 30 days right from the due date of the payment of every premium is permitted for all premium modes part from the monthly mode wherein the grace period of 15 days is permitted. During this grace period, the company is going to accept the premium with no late fee. The coverage will continue; however, the life insured passes away within the grace period, the company is likely to deduct the premium unpaid until the death date from the benefits that are payable within the policy.

Revival of Policy

In the case of non-receipt of the premiums, before the policy has acquired early exit value/ surrender benefit, the policy is going to lapse and no benefits will be payable. When the policy has revived, then it can be revived within the revival period of 05-years from the date of due of the initial unpaid premium, subject to the different conditions.

Exclusion of Max Life Smart Secure Plus Plan 

Suicide

In case the life insured passes away because of committing suicide under twelve months from the commencement date of risk of the policy or the revival date of the policy is going to terminate immediately. In any such case, the company will refund the complete premiums paid including the underwriting paid extra premium and the loading for the paid premium modal. This will exclude the cesses, taxes and levies as imposed from time to time by the government. In case the policyholder chooses to increase the sum assured using the voluntary sum assured top-up option, the suicide clause is going to be applied on the sum assured increased because of the voluntary sum assured top-up alternative.

Written By: PolicyBazaar
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Average Rating
(Based on 51 Reviews)
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Max Life Smart Secure Plus Plan Reviews & Ratings

4 / 5 (Based on 51 Reviews)
(Showing Newest 25 reviews)
Rashid
Bhikiyasen, March 02, 2021
Fulfil the requirement
My term insurance plan has fulfilled my and my family requirements. It has so many additional features which will make my term plan worth it. I got the max life term insurance policy. Great team.
Varun
Barwani, February 19, 2021
Survival plan
I have got the survival plan when I bought this max life term insurance policy from the policybazaar. I checked few plans into the website and found this amazing plan. I am thanks to team policybazaar.
Kishan
Uttamnagar, October 17, 2016
Beneficial Policy
The max life term insurance plan i have bought in low premium is fully satisfactory to me. Services provided by the members of the insurance company is fantastic, online renewal facility reduces the paperwork. The updates regarding insurance plan is mailed to me regularly.
Kapil
Amalapuram, September 26, 2016
Fair Insurance
Got max life term insurance plan in less premium. The service is fantastic with 24X7 customer service. Online renewals and updates are on website of the company. Policy covers maximum expenditure and claims are simple to sanctioned.
Hitesh
Greater_noida, July 26, 2016
Max insurance plan
My friend suggest me to buy a insurance policy. After some researching i purchase term insurance plan from max newyork life insurance. The insurance plan is perfect. Even the online portal service is so simple anyone can access it. Good returns in low premiums.
Bhavya
Nainital, July 26, 2016
Term plan
Max life term plan of mine is fantastic which has maximum benefits and high returns in less investments. Policy coverage is high ~89% and the claims are easy to get. Service is fabulous provided by the executives and staff of the company.
RAHUL
Aallapalli, March 29, 2016
EASY CLAIM
GOOD SERVICE
Pankaj
Gonda, February 29, 2016
Good Service
Max life policy is a good policy in Term market. Policy Bazaar is a good supporter for customer. Thanks Policy Bazaar
Deepak
Kolkata, February 06, 2016
"Average"
I have life insurance and the premium is low. The claim is around 19 lakh at the end of the policy. The service is real good and on time. But the claiming process is slow. An average policy.
Plan Name: Online Term plan
Agent Code: BPW01312
Kunal
Dehradun, February 06, 2016
"Superb"
Life secure with max insurance. Service is nice and fast. Policy coverage is 90% and claims are high but the premiums are very less. Around eighteen lakh is amount of payback at the end of policy.
Plan Name: Online Term plan
Agent Code: BPW01312
Avinash
Ghaziabad, February 06, 2016
"Good"
I have life policy with max insurance and the policy is really nice with good policy coverage. The claims are twelve lakh rupees. The time period to get claim is few days and the daily update is mailed and texted to my account.
Plan Name: Online Term plan
Agent Code: BBE06765
Anil
Navi_mumbai, February 06, 2016
"Not Good"
The policy i have is from max insurance is bad. The number of hospital is large but the service is bad. All service is slow, the policy coverage and claims are none. Bad policy, really disappointed.
Plan Name: Online Term plan
Agent Code: BPW01312
KUNAL
Mumbai, February 06, 2016
"Good One"
I purchase term plan from max life, the policy provide good benefits like low premiums, policy coverage is 70%, claims are high ~Rs.18 lakh, services are very fast. I like the policy, good job guys.
Plan Name: Online Term plan
Agent Code: BBE06895
Shreyas
Bengaluru, February 06, 2016
"Average"
I have a policy with max life, it is an average policy with low premiums. The policy coverage is 60% and the service is slow that's why the payback amount is not on time. Claim is ~Rs.12 lakh.
Plan Name: Online Term plan
Agent Code: BBE06765
Pranav
Navi_mumbai, February 06, 2016
"Best"
Buy insurance by Max life. Really need one because of insecure life in today's world. Policy cover Pretty much high coverage with low premiums. Claims are 90% and the service is best and fast. I Like the policy.
Plan Name: Term plan-Monthly Income
Agent Code: BBE06765
A
Chennai, February 05, 2016
"Good Policy"
Recently bought insurance from Max life. The service is good with low premiums. Policy coverage is 80% and claims are easy to get approx. Rs.21 lakh. I'm happy with the services you provide.
Plan Name: Online Term plan
Agent Code: BPW01312
Manoj
Chennai, February 05, 2016
"Average"
I bought policy by max insurance. Claims are 60% and premium is low. The coverage is less and no free ambulance provided. The service is slow and few hospitals are available at a time. An average policy i say.
Plan Name: Term plan-Monthly Income
Agent Code: BBE06765
Rohit
Pune, February 05, 2016
"Fine Policy"
Max life gave me very fine policy with good benefits. Policy coverage is attractive with ambulance facilities. Claims are about Rs.19 lakh and premium is low. Fine deal with good service.
Plan Name: Online Term plan
Agent Code: BBE06765
NILOTPAL
Durgapur, February 05, 2016
"Fine"
The policy i buy has all benefits. Policy coverage is high, even the ambulance is provided and cover the whole treatment. The claims are about 80% with low premiums. Really good prolicy.
Plan Name: Online Term plan
Agent Code: BBE06765
Ramanand
Kolkata, February 05, 2016
"Good"
I have insurance like every one with max life. Policy provide's great coverage and claims with low premiums. Having great experience yet, the service is good which done on time. Huge number of hospitals are there to provide cure in this policy.
Plan Name: Online Term plan
Agent Code: BPW01312
ASHWINI
Nasik, February 05, 2016
"Good Returns"
I have insurance with max life. The premiums are low and the returns are high. The policy coverage is 60% and the claims are 80%. The service is fast enough to done things on time with safety. Good policy.
Plan Name: Online Term plan
Agent Code: BPW01312
ROHIT
Bhopal, February 05, 2016
"Good Benefits"
Max is having great policies in all. I have one, with great benefits. The service is really very fast and on needed time. Policy coverage is good. Claims are high around 90%. Premiums are even low. The good one in all.
Plan Name: Term plan-Monthly Income
Agent Code: BBE06002
Rajeev
Patna, February 05, 2016
"Best for Life"
I have life insurance like every one else. My policy have great terms and conditions. The service you provided is the best and so quick on time. The daily update is send on cellphone. Claims and policy coverage is high with low premiums.
Plan Name: Online Term plan
Agent Code: BPW01312
Paramjeet
Raipur, February 05, 2016
"Average"
I purchase policy with max life. The policy coverage is around 80-89%. Claims are also high approx. Rs. 17 lakhs. The services are really fast with good response. Cashless garages are 90% of the city. Nice insurance with low premiums.
Plan Name: Online Term plan
Agent Code: BPW01312
Harsimar
Delhi, February 05, 2016
"Fine"
Max insurance offer me the finest policy which is so catchy I can't refuse. The customer services is so quick with great resopnse. Claims, policy coverage cashless garages all are highly simple with marvelous services.
Plan Name: Online Term plan
Agent Code: BBE06765
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