Max Life Offers Independent Term Insurance for Homemakers

A homemaker’s contribution to the household is uncountable and is often left unmeasured and neglected. To empower the Indian housemakers and make them feel essential and integral part of the family, Max Life has come up with Max Life Smart Secure Plus Plan, which works as an independent term insurance cover plan keeping in mind the homemakers.

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Max Life Smart Secure Plus Plan is a non-participating, non-linked, individual, pure risk-premium life insurance plan. This plan helps create a secure financial corpus for individuals where the total household income is less than Rs. 5 lakhs per annum. In addition, Max Life, along with Policybazaar, provides the Max Life Smart Secure Plus Plan to female homemakers to financially support the family in the hour of need.

Let us know some benefits and features of the Max Life Smart Secure Plus Plan and how is this term insurance a must-have for every homemaker in the country.

one crore term plan
plus

Term Plans

₹1
Crore

Life Cover

@ Starting from ₹ 16/day+

₹50
LAKH

Life Cover

@ Starting from ₹ 8/day+

₹75
LAKH

Life Cover

@ Starting from ₹ 12/day+

What Is Max Life Smart Secure Plus Plan?

Max Life Smart Secure Plus Plan helps create a financial shield for individuals that helps fight any critical change in the future. Along with two death benefits, the Term Insurance for homemakers offers the additional benefit of terminal illness and special exit cover. A complete life coverage insurance plan, the Max Life Smart Secure Plus Plan is a one-stop financial solution for every homemaker or any individual across.

Note: Now that you know that what is Max Life Smart Secure Plus Plan, you should also get to know about what is term insurance to buy a term plan for your loved ones.

Eligibility Criteria

The right insurance plan for a safe and unforeseen future is a must for every individual. Max Life Smart Secure Plus Plan is a comprehensive insurance and protection plan that can be easily customized as per the consumers’ preference.

Here are the eligibility criteria under the Max Life Smart Secure Plus Term Insurance for Homemakers:

Age at Entry Age (Minimum) – 18 years
Age (Maximum):
For Regular pay: 65 years
For Pay till 60 years: 44 years
Age of Maturity Death Benefit (Base): 85 years
ACI (Accelerated Critical Illness): 65 years
Accident Coverage: 85 years
Annual Premium(Minimum) Based on the minimum sum assured
Annual Premium(Maximum) No Limit
Sum Assured(Minimum) Death Benefit (Base): Rs. 20,00,000
ACI (Accelerated Critical Illness): Rs. 5,00,000 (minimum)
Accident Coverage: Rs. 50,000 (Minimum)
Sum Assured(Maximum) Death Benefit (Base): No Limit
ACI (Accelerated Critical Illness): 50% of a base death benefit
Accident coverage: 1,00,00,000
Modes of Premium Payment Annual, Monthly, Semi-annual, Quarterly

Note: You can easily calculate the term plan premium by using the term insurance calculator online tool.

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Policy Tenure for Max Life Smart Secure Plus Plan:

Policy Tenure Type of Benefit Policy Tenure
Base Cover 10 - 67 years
Accidental Critical Illness 10 - 50 years
Accident Cover 5 years to 67 years

Features of Max Life Smart Secure Plus Plan

Here are the key features related to the Max Life Smart Secure Plus Plan:

  1. Financial Security

    Death benefit, maturity benefit, and many other add-on benefits available under the Max Life Smart Secure Plus Plan offer comprehensive financial security to the policyholder’s family. With the right combination of benefits and features wisely as per the financial needs, one can gain exponential advantages with this plan.

  2. Premium Break

    One of the unique features, policyholder under this plan is eligible to take a break from the payment of premiums after the completion of 10 years of the tenure. The premium break benefit is available to policyholders with policies having a tenure of more than 30 years and payment of premium term for more than 21 years.

  3. Return of Premium

    In case the policyholder outlives the policy tenure, they are eligible for 100% premium returns. The return of premium benefit is available for both base covers and all Policy Terms and PPT (Premium Payment Terms).

    Why Buy Term Life Insurance from Policybazaar Why Buy Term Life Insurance from Policybazaar

  4. Sum Assured Top-Up

    Sum assured at the starting of the policy purchase can be increased at the later stage of the policy term. The cover can be upgraded up to 100% of the sum assured.

  5. Special Exit Value

    Applicable for a minimum policy tenure of 40 years, the individual under the plan has to option to withdraw from the plan one-time and earn exiting benefits of return of premiums for base cover during the time of exit.

Benefits of Max Life Smart Secure Plus Plan

Let us understand the main benefits of the Max Life Smart Secure Plus Plan in detail:

  1. Death Benefit

    If the assured passes away during the tenure of the policy, the guaranteed death benefit shall be payable by the insurer. The death benefit receivable by the nominee will be the highest of the following:

    • For single pay: 1.25X single premium plus underwriting additional premium (if any), or

    • For other premium payment terms: 10X annualized premium plus underwriting additional premium (if any), or

    • 105% of total premiums paid plus underwriting additional premium (if any) plus modal premium loading, whichever is higher.

  2. Maturity Benefit

    The policyholder shall receive the maturity benefits after surviving the complete policy tenure only if the premium variant's return is opted for in the Max Life Smart Secure Plus Plan.

  3. Accidental Critical Illness Benefit

    Suppose the policyholder suffers from any of the 40 critical illnesses mentioned in the policy brochure. In this case, they are eligible to claim the critical illness benefit offered under the plan, provided the policy is active.

  4. Terminal Illness Benefit

    100% of the guaranteed death benefit shall be payable if a terminal illness is diagnosed under the Max Life Smart Secure Plus Plan up to Rs. 1 crore (maximum).

  5. Joint Life Cover Benefit

    A joint life cover benefit is available under the plan, which can be opted for during the policy purchase. Under the joint-life cover benefit, if the spouse is diagnosed with any critical illness covered under the plan, then Rs. 10 lakh benefit is offered to the beneficiary.

Term Insurance For Wife

Max Life SSP** also provides term insurance for housewives whether they are divorced or just living separately from their husbands. The insurer offers:

  • Term insurance for divorced wife

  • Term insurance for independent wife

  • Term insurance for a single wife

**You can buy term insurance, if you own a car that is not older than 5 years and if you are paying your credit card bills for the past 6 months regularly.

Wrapping It Up!

Policybazaar and Max Life coming together and taking a significant initiative towards the financial future of the homemakers of the country is a major step towards empowering the women of the Indian society. However, with many term insurance benefits and features available under the Max Life Smart Secure Plus Plan, it is also recommended to understand the policy before making any kind of investment.

Note: Check out the best term insurance plan in India and choose one that suits your requirements.


Premium By Age

˜Top plans are based on annualized premium, for bookings made through https://www.policybazaar.com in FY 25.

Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in

+Rs. 487/month (Rs.16/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.

Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited

We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881

For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale

Policybazaar Insurance Brokers Private Limited | CIN: U74999HR2014PTC053454 | Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana – 122001 | Registration No. 742, Valid till 09/06/2027, License category- Composite Broker Visitors are hereby informed that their information submitted on the website may be shared with insurers. Product information is authentic and solely based on the information received from the insurers.

© Copyright 2008-2025 policybazaar.com. All Rights Reserved

+Rs. 820/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.

+Rs. 1,443/month is starting price for a 5 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.

˜ Policybazaar Promise reflects the guarantee offered by insurers. Price assurance is based on certifications shared by insurers with us.

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