Max Life Insurance 1 Crore Term Insurance

People always have a desire to provide adequate financial protection to their families even after they are gone. The favourable way to secure the financial future of our loved ones is to have a term plan. In today's world where nothing is certain, Max life insurance has brought a comprehensive plan that will serve all the required needs of the individual with certainty.

Read more
Get ₹1 Cr. Life Cover at just ₹449/month+
Tax Benefit
Upto Rs. 46800
Life Cover Till Age
99 Years
8 Lakh+
Happy Customers

+Tax benefit is subject to changes in tax laws.

++All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

Get ₹1 Cr. Life Cover at just ₹449/month+
View plans
Please wait. We Are Processing..
Get Updates on WhatsApp
By clicking on "View plans" you agree to our Privacy Policy and Terms of use

The Max Life Insurance 1 Crore Plan is an all-in-one term plan formulated to suit the diverse requirements of the individuals by allowing them to customize the term plan as per their needs. This term plan is non-participating, a non-linked, life insurance cum savings plan. 

Eligibility Criteria for Max Life Insurance 1 Crore Plan

One must read all the below-mentioned eligibility conditions of Max Life 1 Crore Term Insurance Plan carefully before making any decision regarding policy purchase. To make it easy for everyone to understand, the eligibility criteria are compiled into a simplified list. It is crucial to know all necessary information related to the term plan one is thinking of buying.




Subject to the board approved underwriting policy

Minimum Entry Age 

18 years

Maximum Entry Age

Regular pay – 60 years

Pay till 60 variant – 44 years

Maximum Age at Maturity 

Base Death Benefit - 85 years

Accelerated Critical Illness – 75 years

Accident Cover Option – 85 years

Minimum Annual Premium 

Subject to Minimum Sum Assured and premium rates

Maximum Annual Premium

No limit

Policy term

Death benefit – 10 to 50 years

ACI benefit – 10 to 50 years

Accident cover option – 5 to 50 years

Minimum sum assured 

Death benefit – 10 lakhs to 25 lakhs

ACI benefit – 5 lakhs 

Accident cover option – 50,000

Maximum sum assured 

Death benefit – No limit 

ACI benefit – 25% to 50 % of the Base Death Benefit

Accident cover option – 25% of Base Death Benefit 

Premium payment term (must be decided at the starting of the term plan)

Regular, Single, Limited (5, 10, 12, 15) pay and pay till 60 variant 

Policy loan 

No facility of the loan under this plan

Premium payment modes

Annual, semi-annual, quarterly, and monthly

Salient Features of the Plans 

This term plan is made while keeping the individual requirements in consideration. Individual needs can vary from one person to another. The flexible features of the Max Life Insurance 1 Crore Plan make the term plan suitable for a wide range of the population. Here is the list of beneficial features of the term plan: 

  • Policyholders can choose from seven different death benefits offered by the insurer at the inception of the policy. 
  • Pay premiums as per one’s budget by opting for any one of the following options, annual, semi-annual, quarterly, and monthly premium payment mode.
  • The term plan provides life coverage up to the age of 85 years. 
  • Policyholders can opt for accelerated critical illness benefits by paying some additional premium which will protect them from 40 critical illnesses mentioned in the policy documents. 
  • The feature of life stage event benefit is provided to the policyholders to enhance their life cover at various important life stages. 
  • The plan also offers the option of premium return. This option can be availed by paying an extra premium.
  • Max life waiver premium plus rider available to provide protection against death, disability, and critical illness.
  • Policyholders can also choose Max life accident cover to get benefit in case of accidental death.

Core Benefits of the Plan

There several benefits that a person will get if he/she chooses to go forward with the term plan. Here is the list of all the benefits one must be aware of: 

  1. Death Benefit

    If policyholder died during the term plan, the nominee would receive Guaranteed Death Benefit in the form of the following ways (the higher one):

    • If the payment is made in single pay mode, then 1.25 of that payment plus extra premium, if any.
    • For other payment modes, the benefit will be ten times the annualized premium plus extra premium, if any.
    • The Guaranteed sum is assured on the maturity of the plan.
    • Any absolute amount that is mentioned in the policy paper to be paid on death. 

    Seven types of Death Benefit 

    The Max Life Insurance 1 Crore Plan comes with seven different types of death benefit for the policyholder: Life Cover, Income, Protector, Income plus Inflation Protector, Life Cover plus Income, Life Cover plus Increasing Income, Increasing Cover, Reducing Cover. 

  2. Accelerated Critical Illness Benefit 

    If let's say, the policyholder is diagnosed with some critical illness (list mentioned in the policy document), then they become eligible for ACI benefits. There are two ACI benefit policyholders can choose from Level ACI benefits and Increasing ACI benefits. 

  3. Accidental Death Cover 

    If policyholders met an accident and died during the term plan, they will receive the Accidental Cover Sum Assured in the form of a lump sum payment. This benefit is in addition to the death benefit sum assured in the plan. 

  4. Return of Premium 

    This term plan allows policyholders to opt for a premium back variant at the starting of the policy. After opting for the variant, they will be eligible to get their entire premium paid in case the policyholder survives after the term plan. This benefit is available across all policy terms and premium payment methods. 

  5. Add On

    Policyholders can select the add-on, "Life Stage Add on Sum Assured," at the starting of the term plan. The add-on is on a future basis and covers important life milestones like marriage, childbirth, and house loan. 

  6. Surrender Benefit

    If due for some reason, the policyholders want to surrender their policy, they can do so with certain conditions. If the payment is made through a single payment method, the policy can be surrendered after the payment. In the case of the limited pay method, two full years of premium paid are required in less than ten years variant and three full years premium for more than ten years variant. But if the policyholder has opted for the regular payment method, they cannot surrender the policy. 

The Process to Purchase the Plans

The procedure to purchase a MaxLife Insurance 1 Crore Plan is very simple and convenient. One must have to follow the given steps in order to buy the term plan: 

  1. Step 1: Estimate the Sum Assured 

    The very first step will be to visit the official website of the insurer to calculate the sum assured by using the term insurance calculator. It will ask some basic questions related to lifestyle, age, contact information, and annual income. In this case, the sum assured will be 1 Crore. 

  2. Step 2: Select the Additional benefit

    Policyholders are required to add any additional benefits they want at the inception of the policy. This is a step where one must carefully analyze their needs and choose the additional benefits as mentioned above. 

  3. Final Step

    The last step to fill in all the required information asked by the insurer and submits all the legit documents. Once done, pay the premium through the method one has chosen. The process of buying the term plan will be completed. 

Documents Required  

The insurer will ask for certain documents from the policyholder during the buying process. The documents required are:

  1. For Identity proof

    • Voter’s Id
    • Aadhaar Card
    • Pan Card/ Form 60 in addition
    • Job card issued by NREGA 
  2. For Income Proof

    • Bank statement (of last three months)
    • Latest two years of Income tax returns 
    • Form 16
  3. Income Proof In case of Self-employment 

    • Form 26 AS
    • Last two years of income tax return with the income computation 
    • Last three years of income tax return if income computation is not available 
    • Balance sheet and profit/loss account certified by a CA

Additional Features 

Let's take a look at some additional features available in the term plan which makes the policy more attractive: 

  1. Rider

    With Max life waiver of premium plus rider, the policyholders can make their plan even more comprehensive. This rider provides the facility of premium waiver in case of the following circumstances: Critical Illness, Dismemberment, Death (of the policyholder). 

  2. Discounts 

    Policyholders will get discounts if they choose the high sum assured. 

  3. Low Premium rates for Female

    Females are required to be fewer premiums compared to men. And the lower premium rate is also available for non-smokers, but ACI and Accident cover premium will not vary on the basis of smoking status. 

  4. No Restrictions

    The policy does not prohibit the policyholders from travelling or choosing the occupation of their like. 

Terms and Conditions 

There are certain terms and conditions that are attached with Max Life Insurance 1 Crore Plan. Here is the list of term and conditions one must read thoroughly: 

  1. Free Look Period

    If, after buying the term plan, policyholders are not satisfied and want to cancel the plan, they do it within 15 days of policy buying and 30 days in case the policy is bought through distance marketing mode. 

  2. Nomination

    Nomination made under the plan is applicable according to provisions of Section 39 of the Insurance Act, 1938. 

  3. Assignment 

    The assignment made under the plan is applicable in accordance with provisions of Section 38 of the Insurance Act, 1938. 

  4. Grace Period

    If the policyholder failed to pay a premium on time, a grace of 15 days would be provided in the case of monthly payment mode and 30 days for all other payment modes. 

Key Exclusions

If Life Insured, whether sane or insane committed suicide within 12 months of the commencement of the policy or revival of the policy, the nominee will receive the total premium paid plus any other premium paid and modal premium paid.


  • Q1. Till what age can I buy the Max Life Insurance 1 Crore Plan?

    A1. The maximum age allowed to buy the term plan is 60 years. And the duration of the term plan can be 50 years or up to the age of 85 years. 
  • Q2. Does the term plan cover natural death?

    A2. Yes, the term plan covers both natural and accidental death and will pay the sum assured mentioned in the policy documents. But there can be some instances like suicide where the sum assured can be lowered. 
  • Q3. Can I own multiple term plans?

    A3. Yes, one can own multiple term plans from one or more insurers. But they need to disclose all the required information about the existing policies when buying a new policy. 
  • Q4. Are there any tax benefits available in this term plan?

    A4. Policyholders can get some tax benefits on premium and policy benefits. The tax benefits are subject to the prevailing tax laws. 
  • Q5. What things should I keep in mind while buying the policy?

    A5. When buying a term plan, one must check the following things carefully: claim settlement ratio, solvency ratio, quality of customer service, features of the product, and additional benefits that come with the plan.
  • Q6. Which critical illnesses are covered under this plan?

    A6. Here is the list of critical illness covered: Cancer of specified severity, first heart attack, angioplasty, open heart replacement, aorta, and artery surgery, primary pulmonary hypertension, cardiomyopathy, open chest CABG, kidney failure, chronic lung disease, blindness, chronic liver disease, Alzheimer, motor neuron disease, multiple sclerosis, muscular dystrophy, Parkinson, loss of limbs, loss of speech, deafness, medullary cystic disease, major burns, main organ or bone marrow transplant, benign brain tumour, brain surgery, coma, major head trauma, permanent paralysis, stroke, aplastic anaemia, poliomyelitis, bacterial meningitis, encephalitis, progressive supranuclear palsy, rheumatoid arthritis, Creutzfeldt-Jakob disease, fulminant hepatitis. 
  • Q7. How much term insurance will be enough for me?

    A7. It is said by the experts that insurance should be at least ten times the annual income of the policyholder. But if the policyholders have some other liabilities, then they should also consider that. 
  • Q8. Can I use my term plan to pay for my financial liabilities?

    A8. Once the nominee has received the term plan benefit, it can be used for any purpose as required by them. 
  • Q9. Can I revive my policy?

    A9. Yes, policyholders can revive their term plan within the five years of the due date of the first premium lapse or at the end of the policy, whichever be earlier. They need to pay all the due premiums and late fees as mentioned in the policy documents.
Premium By Age

why buy term insurance

FREE Term Life Insurance Quotes in minutes

  • The Best Price
  • Get Upto 10% Online Discount
  • Dedicated Claim Assistance Program

+Standard T&C Apply

Term insurance articles

Recent Articles
Popular Articles
Best Term Life Insurance in USA

01 Feb 2023

A term life insurance in USA can secure your family against the
Read more
Tata AIA Term Insurance Login

26 Dec 2022

Tata AIA term insurance login portal offers the company’s
Read more
Why NRIs in UAE Should Buy Term Insurance Plans from India?

08 Dec 2022

Term life insurance plan secures the financial future of your
Read more
Best Term Life Insurance Plans in Singapore

07 Dec 2022

An NRI living in Singapore can easily buy the best term life
Read more
Bima Sugam

29 Nov 2022

Bima Sugam is an online marketplace that will offer its services
Read more
LIC Term Insurance 1 Crore
LIC of India offers various plans to help you secure the financial future of your loved ones. In order to make
Read more
What Medical Tests are Required for Term Insurance?
Term insurance offers a sum assured to the beneficiary of the policyholder upon their death that can help them
Read more
Term Insurance: Tax Benefits under Section 80D
Term Insurance provides financial security and protection to your family in case of your unexpected death within
Read more
2 Crore Term Insurance Plan
The pandemic has surely generated a global panic and emphasised the importance of financial planning that would
Read more
Types of Deaths Covered and Not Covered by Term Insurance
A term insurance plan is the best way to ensure the financial well-being of your family members in case of any
Read more

View Plans
Download the Policybazaar app
to manage all your insurance needs.