One of the most renowned insurers of the country Max Life Insurance has launched Max Life Insurance Online Term Plan. One of the leading insurance companies in India Max Life Insurance offers a wide range of insurance products to the customers. The plan is designed in a customized way keeping in mind the requirements of the customer. As an online term insurance plan, it is more affordable and can be availed in a hassle freeway.
Apart from this, there are many more benefits offered by the policy. Further in this article we have discussed in details about the best features and benefits offered by the plan.
Key Features of the Policy are:-
- The sum assured of the policy ranges from minimum Rs25lakh to maximum Rs100 core.
- As an online plan, it has an easy and hassle free application process. One just needs to log on to the official website of Max Life Insurance policy and follow the process of application in order to avail the plan.
- Especially designed to meet the needs of the customers, the plan provides an option of three distinctive death benefit to choose from.
- The plan provides discount on high sum assured amount.
- A free-look period of 30 days is provided by the policy. In case, the customers are not satisfied with the terms and conditions of the policy then he/she can cancel the policy within the free-look period of 30 days.
- The plan provides rewards for the healthy lifestyle and low premium rates for non-smoker.
- The buyers can also avail tax benefit under the policy.
- The plan also offer add-on benefits as comprehensive accidental rider and waiver of premium plus rider.
Key Benefits offered by the Max Life Term Plan are:-
- Option 1, Death Benefit -Sum Assured: Under first option 100% of the sum assured amount is paid to the beneficiary of the policy as a lump sum on death of the life insured.
- Option 2, Death Benefit- Sum Assured + Level Monthly Income: Under the second option 100% of the chosen sum assured on death along with 0.4% of the policy sum assured per month for a period of 10 months are payable to the beneficiary of the policy. Thus, the final death benefit payable to the beneficiary is the effective total death benefit including the monthly income minus 148% of the sum assured.
- Option 3, Death Benefit- Sum Assured + Increasing Monthly Income- Under the 3rd option 100% of the chosen sum assured on demise of the insured plus increasing monthly income for 10 years. Under the increasing monthly income, the monthly income of the first year shall be 0.4% of the sum assured and should increase by 10% per annum.
Additional Benefits Offered by Max Life Term Plan
Max Life Term Plan offers Additional Benefits as comprehensive accidental benefit rider and waiver premium plus rider.
The eligibility criteria of the policy are very simple. For the knowledge of our customers here we have shown a tabular description of the eligibility criteria of the policy.
Entry Age
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Minimum-18 years
Maximum-60 years
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Policy Term
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Choose a term from 10-35 years, subject to maximum expiry age.
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Premium Payment Term
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Equal to Policy Term
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Expiry Age
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70 years
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Sum Assured
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Minimum- Rs25Lakh
Maximum-Rs100cr
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Premium Payment Mode
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Yearly only
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