In today’s uncertainties, it is crucial to make sure that your financial plan is capable of meeting any challenges head on. Max Life Smart Secure Plus Plan (A Non-linked, Non-participating Individual Pure Risk Premium Life Insurance Plan | UIN 104N118V05) is a one-of-a-kind policy, enabling the policyholders to gain maximum financial security with flexible pay-out options and unique in-built benefits such as terminal illness, special exit value~1 along with valuable add-ons. Let’s understand how the Smart Secure Plus Plan by Max Life works in detail.
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Max Life Smart Secure Plus Plan is a policy designed to provide comprehensive financial security to customers. With two death benefit variants and multiple pay-out options, it gives policyholders life security and the freedom to customize the policy benefits according to their financial profile.
Let’s take Mr. Ahuja’s example who wants to purchase Max Life Smart Secure Plus Plan to understand how it works:
He can choose between the two death benefit variants of the plan:
Under this variant, Mr. Ahuja’s chosen sum assured at the inception of the policy will grow at a rate of 5% annually, at each policy anniversary, subject to a maximum of 200% of the base sum assured. This type of life cover is ideal for managing the impact of inflation and increased cost of living.
He can choose between different premium payment options such as – Single Pay, Regular Pay, 5 Pay, 10 Pay, 12 Pay, 16 Pay, Pay Till 60. In addition to this, , the beneficiary of Mr. Ahuja’s policy will have options to choose from different pay-out options at the claim stage. Since each family’s financial profile is different, the pay-out options allow them to receive the money on their terms, as per their preference.
The family can choose to receive the pay-out from Max Life Smart Secure Plus Plan as a lump sum amount, as monthly income or part lump sum and part monthly income.
Here are some features of Max Life Insurance Smart Secure Plus Plan that can help you build a strong net of financial security for yourself and your loved ones:
With the Life Cover or Increasing Life Cover option given by Max Life smart secure plus plan, you can create a robust financial support system for your loved ones. This plan allows you to pick from a variety of options to ensure that the sum assured is sufficient even in the future.
Because the major goal of any term plan is to cover the insured person's life and financial liabilities, the life cover choice must be carefully chosen. Make sure you map out your future financial needs carefully and choose the life insurance choice that best fits your goals.
Premium break~ is a unique feature offered by Max Life Insurance Smart Secure Plus Plan. Once the policy has been in effect for ten years, you can take a premium break or holiday from paying the premium.
When you choose to take a premium break, your policy will continue to be active, with the risk cover operating according to the terms and circumstances of the max life term plan. The premium break option can be selected twice during the PPT and is only applicable for policies, with policy term greater than 30 years and PPT greater than 21 year^^
Financial security is an integral part of one’s life today when there are innumerable threats around us. It is of utmost importance to plan for your future, keeping your loved ones’ wishes and goals in mind so you never have to be financially dependent on anyone.
Max Life Smart Secure Plan can be an ideal tool to help you on your journey to financial security. Here’s how it benefits you:
The terminal illness benefit of Max Life Insurance Smart Secure Plus Plan allows you, the insured person, to receive the sum assured of up to Rs. 1 crore in the event of a diagnosis. Since the costs of medical treatment are at an all-time high and only expected to increase, this is a valuable benefit that allows you to stay prepared for troublesome circumstances.
Furthermore, given the surge in critical disease instances in recent years, the Smart Secure Plus Plan also allows policyholders to add a critical illness rider^*^ to the policy that offers accelerated pay-out in case of diagnosis.
Apart from choosing between different variants of the plan, you can add several add-ons to the policy such as top-up sum assured, premium break~, return of premium*^, etc. The policy also gives your beneficiary the option of choosing the pay-out method according to their needs.
With the Max Life Smart Secure Plus Plan, you can choose the ideal combination of features and advantages if you know your particular financial needs and anticipate future demands carefully. This will allow you to create a comprehensive financial security strategy that will effectively safeguard you and your family.
Max Life Smart Secure Plus Plan is an ideal financial instrument for individuals who are looking for comprehensive life security. Since it comes with multiple benefits, including life cover for spouse, it can be used as a one-stop policy for several financial needs.
Here is the eligibility criteria for purchasing the policy:
Since it is a long-term protection plan, it is best to invest in the policy in the early stages of life so you are able to reap the benefits appropriately.
One of the important factor of choosing the best term insurance plan for your family’s financial protection is deciding on the right sum assured. Know more on how to decide the best term life insurance sum assured option for you. You can also click on the below tabs to understand in details about following sum assured amounts:
Disclaimer: Standard daily premium for 24-year old healthy male, non-smoker, 25 years policy term,25 year premium payment term (exclusive of GST) for Max Life Smart Secure Plus Plan (UIN:104N118V06).
ARN: C/SA/050623
These are the premium payment options available with Max Life Smart Secure Plan:
| Premium Payment Term (PPT) | Available Base Policy Terms* | Available ACI Policy Terms | Available Accident Cover Policy Terms^*^ |
|---|---|---|---|
| Single Pay | 10 Years to 67 Years | NA | NA |
| Regular Pay | 10 Years to 67 Years | 10 Years to 50 Years | 5 Years to 67 Years |
| 5 Pay | 10 Years to 67 Years | NA | 10 Years to 67 Years |
| 10 Pay | 15 Years to 67 Years | 10 Years | 10 Years to 67 Years |
| 12 pay | 17 Years to 67 Years | 10 Years to 12 Years | 10 Years to 67 Years |
| 15 Pay | 20 Years to 67 Years | 10 Years to 15 Years | 10 Years to 67 Years |
| Pay Till 60 The premium payment term will be equal to (60 less Entry Age (Age last birthday)) | Policy term should be greater than premium payment term and can be a maximum of 67 years | 10 Years to (60 less Entry Age (Age last birthday)) | 6 Years to 67 Years |
ARN NO: Jun23/Bg/25G
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