Max Life Insurance Term Plans

Max Life Insurance Term Plans

Max Life Insurance Company Limited is a Joint Venture between Max Financial Services Limited and Axis Bank Limited. Max Financial Services Ltd. is a part of the Max Group, an Indian multi business corporation. Max Life has a total claims paid ratio of 99.35% as per the annual audited financials for the FY 20-21.

Max Life offers comprehensive protection and long-term savings life insurance solutions, through its multichannel distribution including agency and third party distribution partners.

Benefits of Max Life Term Insurance Plans

• Offers complete protection at considerably low premiums along with coverage for disability, death, and diseases.
• Option to increase the insurance coverage based on various needs and requirements at different life stages.
• Provides long-term coverage till 85 years of age.
• Boasts of high claim settlement ratio of 99.22% (IRDAI Annual Report 19-20), making it the most trusted partner in the insurance sector.
• Max Life Insurance also offers maturity benefit with Return of Premium term plan.
• The term insurance plans are reasonably priced such that the policyholder does not feel the burden to continue the term plan.
• Tax benefits are available on Max Life Insurance Term Plans as per the prevailing income tax laws.

Term Plans offered by Max Life Insurance

• Max Life Online Term Plan Plus
• Max Life Super Term Plan
• Max Life Smart Term Plan

1. Max Life Online Term Plan Plus

It offers comprehensive protection against 3 life risks – death, dismemberment, and critical illness with add-on benefits and features. It also gives the option to top-up your cover with various riders. You can pay a premium for 60 years and get coverage for 85 years. Max Life Online Term Plan Plus comes with 3 different death benefit options – Basic Life Cover, Basic Life Cover + Monthly Income, and Basic Life Cover + Increasing Monthly Income.

2. Max Life Super Term Plan

This term plan secures your family financially if something happens to you. It also has an increasing life cover option which helps in coping up with the growing inflation. Under this option, the life cover increases by 5% every year until the policy term’s end without any change in the premium. This helps your family to meet the increasing expenses in your absence.

3. Max Life Smart Term Plan

The Smart Term Plan by Max Life Insurance caters to the needs of people belonging to different ages and stages of life. You can customize your coverage amount by opting for the desired benefits that you need. It also offers maturity benefits upon surviving the policy tenure by returning premiums paid.