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Max Life Insurance 75 Lakh Term Insurance

Secure your family's financial future by planning for the long term and taking dedicated steps to ensure their safety. If you're unsure where to begin, consider getting a 75 lakh term insurance policy from Max Life Insurance. These budget-friendly options offer coverage of 75 lakhs, providing financial security against unexpected life events. This article gives detailed information about Max Life 75 Lakh Term Insurance to help you make an informed decision.

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What is Max Life 75 Lakh Term Insurance Plan? 

Max Life 75 Lakh Term Insurance Plan is designed to offer financial security to your loved ones during your unexpected death. Therefore, a 75 Lakh term plan offered by Max Life Insurance helps by providing a sum assured of Rs. 75 Lakhs.

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+

How Does The Max Life 75 Lakh Term Insurance Plan Work? 

Let us understand how this life insurance plan works with the help of this example: 

You can choose a 75 Lakh Term Insurance plan from Max Life Insurance for a definite policy term, and the assigned nominee will get the death benefit of Rs. 75 Lakhs in the case of your untimely death. The Max Life 75 Lakh term insurance plan provides a trustworthy financial safety net for your family in tough times like illness or death. With affordable premiums and extensive life coverage, it's a reliable choice for individuals wanting to protect their family's future.

Why Buy Max Life 75 Lakh Term Insurance? 

Here are some of the reasons why you should buy Max Life 75 Lakh Term Insurance:

  • Affordable premiums: Max Life 75 Lakh term insurance provides comprehensive coverage at affordable premiums, making it an ideal financial commitment towards your family. Also, starting the plan early in life allows you to enjoy the benefits of Max Life 75 Lakh Term Insurance from premiums as low as Rs. 602/month.

  • Extra coverage benefits: Max Life 75 Lakh term insurance includes additional coverage advantages like accidental death benefits, critical/terminal illness benefits, and waiver of premium riders.

  • Financial support for your family: The Max Life Term Plan ensures that your loved ones' financial needs are met in your absence. Nominees can use the death benefit to settle debts, loans, and liabilities, or cover household expenses.

one crore term plan

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₹1 CRORE

Term Plan Starting @ ₹449/month+

Get an online discount of upto 10%+

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How to Determine the Right Coverage Amount? 

Here is a list of some factors that can help determine if buying a 75 Lakh term life insurance plan is the right choice for you: 

  • Your Annual Income: When assessing all the term plan options to buy the best term life insurance in India, it's a wise step to make sure that your cover amount is at least 10 times your yearly income. For example, if the annual income is Rs. 5 Lakhs, the term plan should at least be Rs. 75 Lakhs. You can easily use Policybazaar’s term policy calculator for a more appropriate estimate.

  • Current Age: Your age plays a crucial role in finding the right coverage for your term life insurance. As you get older, the chances of health issues rise, resulting in higher premiums. It's a good idea to buy the 75 Lakh term insurance plan at a younger age. This way, you can get high coverage at lower premiums, ensuring financial security for your loved ones without expensive payments for a longer time.

  • Assessing Financial Dependents and Their Needs: It's important to assess your dependents' financial needs to understand if a 75 Lakh term insurance policy is the right option. Keep track of the number of family members who depend on you financially and analyze their future needs like education, marriage, loans, etc. Ensure all your dependents' financial needs, especially those relying on your support, are properly considered.

  • Settling Loans and Liabilities: Before you buy term plan, carefully review any ongoing loans or debts, like home, car, or education. Opting for a 75 Lakh term insurance policy is beneficial as it offers extensive life coverage that meets all your needs.

What are the Benefits of Max Life 75 Lakh Term Insurance? 

Here are the benefits of Max Life 75 Lakh Term Insurance:

  • Affordable Premiums: The Max Life 75 Lakh term insurance plan comes with a budget-friendly premium rate, especially if purchased at a younger age, starting at Rs. 602/month.

  • Additional Coverage Options: Max Life 75 Lakh term insurance plan not only offers extensive coverage for your loved ones but also allows you to enhance it with optional add-ons like critical illness, premium waiver, and accidental death riders. While not mandatory, these riders provide extra protection tailored to your specific needs, and you can add them while purchasing the plan.

  • Convenient Online Purchase: Buying the Max Life 75 Lakh Term Insurance plan online is easy and hassle-free, eliminating the need for visiting branches or standing in queues. Plus, you can enjoy a 10% discount when purchasing through Policybazaar.

  • Flexible Payout Modes: Unlike some life insurance companies that offer a lump sum death benefit, Max Life allows you to choose from various payout methods. For example, you can combine a lump sum with monthly income payouts, giving you better control over your expenses.

  • Tax Benefits: Opting for the best 75 Lakhs term plan makes you eligible for tax deductions under sections 80C and 10(10D) of the Income Tax Act, 1961.

Who Should Opt for Max Life 75 Lakh Term Insurance?

Here is a list of all eligible people who can buy 75 Lakh Term Insurance:

  • Young individuals

  • Business owners or self-employed individuals

  • Sole breadwinners of a family

  • Individuals with outstanding debts

  • Newly married couples

  • Parents with children

How do you buy Max Life 75 Lakh Term Insurance from Policybazaar?

Here are the steps to buy Max Life 75 Lakh Term Insurance from Policybazaar:

Step 1: Visit Policybazaar's official website and go to 'Term Insurance'.

Step 2: Fill in your basic details such as Name, Date of Birth, and contact number, then click on 'View Plans'.

Step 3: Submit all correct answers about your smoking habits, annual income, occupation type, and educational qualifications.

Step 4: Select 75 Lakhs as your life cover to view all the available term plans.

Step 5: Once you have submitted all your details, a list of the best term insurance plans will be displayed.

Step 6: Choose the Max Life plan from the list and proceed to payment using your preferred mode.

FAQs

  • Q: What does the Max Life 75 Lakh Term Insurance Plan offer?

    Ans: The Max Life 75 Lakh Term Insurance Plan provides a financial safety net for your loved ones, delivering a death benefit of Rs. 75 Lakhs in the event of your untimely demise.
  • Q: What are the key benefits of Max Life 75 Lakh Term Insurance?

    Ans: Max Life 75 Lakh Term Insurance offers cost-effectiveness, optional add-ons for extra benefits, easy online availability, flexible payout options, and tax benefits under section 80C and 10(10D) of the Income Tax Act.
  • Q: Who should buy Max Life 75 Lakh Term Insurance?

    Ans: Max Life 75 Lakh Term Insurance is suitable for young individuals, self-employed/business owners, newly married couples, parents with children, sole earning members, and those with debts.
  • Q: Why should one consider purchasing Max Life 75 Lakh Term Insurance?

    Ans: Buy Max Life 75 Lakh Term Insurance for high coverage at low premiums, additional benefits like accidental death coverage, terminal illness benefits, and waiver of premium riders. It ensures financial support for dependents, covering loans, debts, and household expenses.
  • Q: How to determine the right coverage amount?

    Ans: Consider factors such as annual income, age, financial dependents, future needs, and outstanding loans when deciding the appropriate life cover. Use Policybazaar’s term insurance calculator for accurate calculations.
  • Q: How does the Max Life 75 Lakh Term Insurance Plan function?

    Ans: The Max Life 75 Lakh Term Insurance plan ensures your nominated beneficiary receives a death benefit of Rs. 75 Lakhs in case of your demise, providing financial stability for your loved ones. Affordable premiums and comprehensive coverage make it a reliable choice for securing your family's future.
  • What are the benefits of term life insurance?

    Ans: Here are 4 common term life insurance benefits:
    • Low premium rates
    • Tax Benefits
    • Death Benefit
    • Long term coverage
  • What are the key features of a best term insurance plan in India?

    Ans: Let's understand what is term plan here. Term insurance offers financial protection for a certain period to the policyholder, thereby, offering a lump sum payout if the policyholder unfortunately passes away during the policy term.

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Max Life Insurance 75 Lakh Term Insurance Reviews & Ratings

5 / 5 (Based on 23 Reviews)
(Showing Newest 10 reviews)
Sumit
Rajasthan, July 22, 2024
Incredibly Easy
PolicyBazaar website made it incredibly easy to understand the different types of insurance and what each policy offered.
Mana
Maharashtra, July 22, 2024
Very Impressed With Impressed
I brougtht a term plan from the Policybazaar website and what impressed me most was the transparency and the detailed information of available at the platform.
Kabir
Maharashtra, July 22, 2024
Perfect and Simple
Found a perfect and simple plan from Kotak Life on Policybazaar. The detailed comparison made it easy to decide.
Adnan
Maharashtra, July 22, 2024
Detailed and Reliable
Policybazaar truly offers some of the most affordable premiums on term insurance plans online.
Shafibul
Andhra Pradesh, July 22, 2024
Affordable and Comprehensive
With HDFC Lifes C2P Super Term Insurance, I found an affordable and comprehensive solution to safeguard my family. As a single mother, its crucial to have high sum assured at an affordable premium. HDFC Life delivered exactly what I needed.
Akkash
Uttar Pradesh, July 22, 2024
Comprehensive and Trustworthy
Choosing HDFC Lifes Click 2 Protect Super was the best decision. The comprehensive coverage, including disability and disease protection, made it a trustworthy choice.
Yognder
Uttar Pradesh, July 22, 2024
Easy Application Process
Aegon iTerm Prime Term Plan had an easy application process, and the support team was very helpful. Now I feel my familys future is secure.
Gulab
West Bengal, July 22, 2024
Perfect for Growing Families
As our family grows, Aditya Birla term plan provided the extensive coverage we needed. The additional benefits like accidental death cover were very reassuring.
Rajiv
Gujarat, July 22, 2024
Easy Comparison
The comparison tool is very effective and easy to use at PB.
Raghunath
Rajasthan, July 22, 2024
User Friendly and Affordable
PNB MetLifes Online Term Plan was user-friendly and offered affordable premiums. It was the perfect choice for someone like me, balancing multiple financial responsibilities.
Current Version
Jun 14, 2024
Written By
Rhishabh Garg
Reviewed By
Santosh Agrawal
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