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.
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.
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:
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 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.
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.
The table below shows the eligibility criteria of the Max Life Smart Secure Plus Plan:
|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
|Premium Payment Term||
|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.
The needs of every individual are different. The following are some of the key features of the Max Life Smart Secure Plus Plan:
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.
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.
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.
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.
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.
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.
In the plan, there are discounts built when a high sum assured is chosen.
Here is a rundown of the benefits of the Max Life Smart Secure Plus Plan:
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.
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.
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.
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.
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.
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.
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:
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:
This rider will provide benefit upon the diagnosis of any critical illnesses covered.
The following are some of the important terms and conditions of the Max Life Smart Secure Plus Plan:
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.
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.
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.
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.