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Max Life Insurance Online Term Plan Plus Brochure

Max Life Insurance Online Term Plan Plus offers comprehensive protection for your family members at affordable premiums. The brochure gives us an insight into the features and benefits of the new Max term insurance plan. You can easily buy this plan online in a hassle-free way. 

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Read on to learn more about the features and benefits of the plan through Max Life Insurance Online Term Plan Plus Brochure:

Key Features of Max Life Insurance Online Term Policy

Below mentioned are some notable features as described in the Max Life Insurance Online Term Plan Brochure:

  • This Max Life Term plan offers comprehensive coverage against death, disability, and critical illnesses

  • You can choose to pay the premiums till the age of 60 years or for just 10 years and get coverage for a longer term

  • The plan allows you to increase the base sum assured at different life stages with the life stage benefit

  • The accelerated critical illness benefit covers the policyholder against 40 life-threatening illnesses

  • You can add the riders to the base plan for enhanced coverage in exchange for regularly paid premiums

  • The plan offers premium discounts on higher sum assured amounts

  • Female and non-smoking customers can get the policy at lower premiums

  • Plan offers rewards for maintaining a healthy lifestyle.

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+

Eligibility Criteria of Max Life Insurance Online Term Plan

Here are all the eligibility conditions you need to satisfy before buying the Max life online term plan brochure:

Parameters Minimum Maximum
Entry Age 18 years 60 years
Maturity Age - 85 years
Policy Term 10 years 50 years
Base Sum Assured 25 Lacs 100 Crores
Premium Payment Term Regular Pay, Pay till 60 years, 10 years pay
Premium Payment Modes Monthly, quarterly, semi-annually, and annual

Note: Know what is term insurance first and then buy a term plan for your loved ones.

Benefits Under Max Life Insurance Online Term Plan Brochure

Below are the benefits listed in this Max Life Insurance Plan:

  • Death Benefits

    In case of the unfortunate death of the policyholder during the policy term, the insurer will payout the sum assured on death to the nominee of the policy.

    Death benefit paid is higher of:

    • 10 times the Annualized premium

    • 105% of total premium paid

    • Minimum guaranteed sum assured in case of maturity

    • Absolute assured amount paid in case of death

    This plan offers 3 death benefit options to choose from. You can easily choose the best death benefit option at the time of buying plan:

    • Sum Assured = 100% of the base sum assured is paid on the death of the policyholder

    • Sum Assured plus Level Monthly Income = 100% of the base sum assured is paid + 0.4% of the base sum assured paid monthly for 10 years

    • Sum Assured plus Increasing Monthly Income = 100% of the base sum assured is paid on the death + increasing monthly income for the next 10 years

  • Maturity Benefits

    There is no maturity, survival, or surrender benefit available under this Max life insurance plan.

  • Accelerated Critical Illness

    The critical illness sum assured amount is paid in case of the first occurrence of any one of the mentioned critical illnesses. The accelerated death benefit is paid in case of the diagnosis of any of the mentioned critical illnesses during the CI benefit cover time, provided the policy is active and meets all the T&Cs.

  • Life Stage Event

    This plan provides you the option to increase the SA on the basis of future life stages like wedding, birth of a child, house loan etc. You can choose this option at the time of the policy’s inception.

  • Tax Benefits

    You can claim term insurance tax benefits under sections 80C and 10(10D) of the Income Tax Act, 1961 as per the prevailing tax laws.

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Rider Available Under Max Life Insurance Online Term Plan Brochure

The plan offers the option of increasing the plan’s base coverage by adding riders to the base plan. The available riders under the plan are as follows:

  • Accident Benefit Rider: The insurer provides the rider sum assured in case of the policyholder’s accidental death or total and permanent disability during the policy term.

  • Waiver of Premium: If the policyholder is diagnosed with a critical illness or accidental disability, or death during the policy term, the remaining premiums of the plan will be waived off, and the plan will continue its coverage as usual.

Policy Details of the Max Life Online Term Plan Plus

As per the Max Life Insurance Online Term Plan Brochure, a customer is mandated to agree to specific terms & conditions before the policy inception:

Free Look Period: A customer is given a 30-days’ free look period from the date the customer receives the policy document to review its terms and conditions. Under any obligations, the customer can choose to cancel the policy stating the reason and receive the premium refund. The amount received by the customer will exclude any risk cover for that period. Expenses incurred during any medical examination and for stamp duty will also be excluded.

Policy Lapse: The policy shall lapse if the insurer does not receive the premium within the Grace Period, and benefits shall not be paid thereafter.

Revival: A customer can revive the policy within 5 years from the default date of the first premium that is unpaid and before the policy term ends. The policy shall be revived only after the approval of the Board of the company. The policy will only be reinstated under the following conditions:

  • A written request for the policy revival is submitted to the company

  • Evidence is produced proving the insurability of the policyholder, acceptable to the company

  • The customer pays all the outstanding premiums along with the late fees at rates determined as per the company

How to Buy Max Life Online Term Plan Plus?

You can easily buy the Max life online term plan plus online by following the below steps:

Step 1: Visit Policybazaar and go to the term insurance page

Step 2: Fill in the required details like name, gender, DOB, and contact number

Step 3: Enter your occupation type, annual income, educational background, and smoking habits

Step 4: Select the most suitable Max term insurance plan and proceed to pay

Documents Required to Buy the Max Life Online Term Plan Plus

Here are the documents to be submitted to the insurer prior to the policy purchase as stated in the Max Life Insurance Online Term Plan Brochure.

  • Residence proof

  • Proof of Identity

  • Proposal Form

  • Photograph

  • Bank details

Exclusions Under Max Life Insurance Online Term Plan Plus Brochure

Suicide Exclusion: In any circumstances, if the policyholder commits suicide within a year or 12 months of policy commencement or from the date of policy revival, the policy will be immediately terminated. The premiums paid to the insurer, any extra premiums paid, and loadings paid for modal premiums will be refunded to the nominee.

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

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