Max Life Insurance Company Limited ranks among the top life insurance companies in India. It is a joint venture between Max India Limited and Mitsui Sumitomo Insurance Company Limited. Max Life Insurance offers several Insurance Plans to fulfil the financial and protection needs of insurance seekers. These Term Insurance Plans are offered at premium rates that make it affordable for the buyers to avail of insurance easily.Read more
The Company offers plans in several categories. For calculating premiums, one can use a specially designed online tool - Max Life Insurance Calculator. It helps buyers avail of the most beneficial plan at affordable premium rates.
This calculator can be used for the following:
Some benefits of using this calculator are:
Using the Max Life Insurance Calculator for getting the premium quotes for the desired insurance coverage and policy benefits can be done in just a few minutes. The policy seeker can visit Max Life Insurance’s official website and locate the “Calculate Premium” option to use the Life Insurance Calculator. Once the online Life Insurance Calculator tool opens, one needs to follow these simple steps:
They need to enter details, including their name, gender, date of birth, mobile number, annual income, occupation type, and tobacco/smoking habits.
They can personalize their plan by selecting the life coverage needed, the age until they need the cover, and whether or not they want their premium back after the policy term.
They can buy anyone rider as per their requirement from these available options to get some extra benefit from their plan:
After selecting the required preferences, they will get a premium estimate on the left-bottom corner of the screen. One should check whether this estimate fits their budget before preceding further to make their payment. If not, they have an option to go back and alter their plan by making changes to the coverage amount or the term. Once they are satisfied, they can buy the policy and safeguard their family’s financial future.
With so many Term Insurance plans, choosing the perfect plan matching their requirements is a tedious task for policy seekers. The Max Life Insurance Calculator will not only help them with this but would also provide advantages like:
Policy seekers do not have to spend their precious time making manual calculations or standing in queues for submitting documents to allow them to determine the premium amount. They just need to enter the required details, and Max Life Insurance Calculator would give them the premium quotes in no time.
Max Life Insurance Calculator determines the premium an individual has to pay to get the coverage they need. This helps them plan and save their budget accordingly.
Using the Max Life Insurance Calculator, one can check the amount of life cover they could get according to their budget. They can then check whether that cover would be able to provide sufficient financial protection to their family.
Policy seekers can use the Max Life insurance Premium Calculator tool free of cost. Also, it would facilitate them to buy their term policy online. This saves extra money as online purchases provide lower premium rates.
An insurance seeker requires to provide these specific details while using a Max Life Insurance Calculator:
A term insurance plan is a life insurance policy that is effective only for a limited period or term. According to this contract, the insurer offers to pay the lump-sum amount to the nominee in case the insured dies during the term of the contract.
Max Life Insurance Plan provides numerous benefits to the insured and their family like:
Some unfortunate happenings like the death of the sole breadwinner can lead to a state of financial emergency in the family and put their future at risk. Having a term insurance policy ensures that the policyholder’s family continues to receive financial support to sustain their lifestyle.
As the future is unpredictable, it is common to be stressed and fearful about the future of one's family. Getting term insurance protects the policyholder's family from unforeseen events like death, disability, or disease. This ensures that their family's future would be secure, even in their absence.
Under the prevailing tax laws, term insurance helps policyholders save taxes on the premium paid towards the plan.
The family has the option to select whether they want the lump sum as a one-time payout, along with a monthly income or with increasing monthly income.
The policyholder can decide the coverage and term of the policy offered according to their financial requirements.
Max Life Insurance offers term insurance plans with higher life coverage at affordable premium rates.
Some life insurance plans, like ULIPs and retirement solutions, serve as a source of regular income for the policyholder's family. They can use it to take care of their basic financial requirements like food, bills, EMIs, rent, or to fund their future educational goals.
Life Insurance Premium Rates is the amount an individual has to pay while buying an insurance policy. Max Life offers various insurance plans at easily affordable premium rates. The policy premium rates vary from person to person depending on factors like:
Along with this, the net premium amount for a term insurance plan depends on the mortality rate, investment earnings, and the lapse rate calculated by the insurance company.