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Online Term Plan Plus

Max Life brings to you Online Term Plan Plus that provides a secure financial future for your loved ones, against the risks of Death, Disease and Disability.
Online Term Plan Plus offers a life insurance cover of 1 crore at just Rs. 563 per month* only.
Max Life brings to you Online Term Plan Plus that provides a secure financial future for your loved ones, against the risks of Death, Disease and Disability.
Online Term Plan Plus offers a life insurance cover of 1 crore at just Rs. 563 per month* only. (Standard Premium For 28-Year-Old Male, Non-Smoker, Base Plan Policy Term Of 30 Years, Premium Payment Term Of 30 Years)

What is a Term Plan?

Term insurance plan is a type of life insurance contract that offers to pay a lump-sum amount to the nominee (a family member nominated by the person who is insured to receive the policy benefits in case of his/her death) in case of insured dies during the policy term. Term insurance is called so because it covers the life of the insured for a limited period (or term). Term plan does not offer a maturity value if the policyholder survives through the entire duration of the policy. This is one of the reasons why term plans are affordable.

Why Should you Buy Term Insurance?

Emergencies and unfortunate events like the loss of breadwinner can push a family financially backward and put their future at risk. With a term insurance policy, the breadwinner can ensure that the family continues to receive the financial support to maintain a respectable lifestyle

Benefits of Term Insurance Plan

Emergencies and unfortunate events like the loss of breadwinner can push a family financially backward and put their future at risk. With a term insurance policy, the breadwinner can ensure that the family continues to receive the financial support to maintain a respectable lifestyle

The concept of insurance is based on community, and thus the term insurance plans too. Term insurance plans benefit not just the buyer and the families but the society at large:

Buyer of the Term Insurance Plan

a. Affordable premiums (Max Life Online Term Plan Plus offers 1 crore cover at just Rs. 563 per month* (Standard Premium For 28-Year-Old Male, Non-Smoker, Base Plan Policy Term Of 30 Years, Premium Payment Term Of 30 Years)
b. Peace of Mind
c. Tax Savings under section 80C (As per existing tax laws)Max Life Online Term Plan Plus offers flexibility to choose the benefit amount that family receives – (3 options - lumpsum one time, lumpsum along with a monthly income or lumpsum with increasing monthly income)
d. Max Life Online Term Plan Plus offers flexibility to choose the duration of the cover (minimum 10 years to a maximum of 50 years)

The Family of person who is insured

a. A regular income to support basic essentials – food, rents, bills, EMI's
b. Financial protection to the future of kids in the family by supporting the kid’s school fees or higher education goals c. Benefit amount received on death of person insured is exempt from tax under section 10(10D)^^ (as per existing tax laws)

The Society at large

a. Efficient protection of bereaved families
b. Freeing up individuals, businesses and governments from the financial burden of supporting the dependents of deceased

Explore three variants of Max Life Online Term Plan Plus

Basic Life Cover

Provide Financial security for your family with one-time lumpsum payout

How this variant works?

  • Premium that you pay - 8968
  • Lumpsum one time payment that your family gets - Rs. 1 crore
  • Effective cost - Rs. 90 / lac of cover
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Basic Life Cover + Monthly Income

Financial Security for your family with monthly income for 10 years in addition to lumpum

How this variant works?

  • Premium that you pay - Rs. 11,918
  • Lumpsum Payout of Rs. 1 Cr + Monthly Income of Rs. 40,000 for 10 years
  • Effective Cost - Rs. 81/lac of cover
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Basic Life Cover + Increasing Monthly Income

Enhance the financial security with increasing monthly income, in addition to lumpsum

How this variant works?

  • Premium that you pay - 13,216
  • Lumpsum Payout of Rs. 1 cr + monthly income of Rs. 40,000 that increases by 10% every year
  • Effective Cost - Rs. 78/lac of cover
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Key Features of Max Life Online Term Plan Plus

 

BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS

IRDAI clarifies to public that:

• IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums.

• Public receiving such phone calls are requested to lodge a police complaint.

IRDAI - Registration No. 104. ARN/Web/01. Category: Life. Validity: Valid.
Corporate Identity Number (CIN):U74899PB2000PLC045626.
Trade logos displayed above belong to Max Financial Services Limited and Mitsui Sumitomo Insurance Co. Ltd. respectively and are used by Max Life Insurance Co Ltd under a license.

Copyright @2016 Max Life insurance Co. Ltd. All Rights Reserved. An ISO 9001:2008 Certified Company. 

Max Life Insurance Co. Ltd. is a Joint Venture between Max Financial Services Ltd. and Mitsui Sumitomo Insurance Co. Ltd. Registered Office: 419, Bhai Mohan Singh Nagar, Railmajra, Tehsil Balachaur, District Nawanshahr, Punjab -144 533. Corporate Office: Max Life Insurance Co. Ltd., 3rd, 11th and 12th Floor, DLF Square Building, Jacaranda Marg, DLF City Phase II, Gurugram (Haryana) - 122002. Operation Center: Max Life Insurance Co. Ltd, Plot No. 90-A Udyog Vihar, Sector 18, Gurugram (Haryana) - 122015.

Helpline: 1860 120 5577 (9:00 A.M to 6:00 P.M Monday to Saturday) * Call charges apply. Online Term Plan Helpline: 1800 200 3383. Fax Number:0124-4159397.

Email ids: service.helpdesk@maxlifeinsurance.comonline@maxlifeinsurance.com

Life Insurance Coverage is available in this Product
Unit Linked Insurance Products (ULIPs) are different from the traditional insurance products and are subject to the risk factors. The premium paid in the Unit Linked Life Insurance Policies is subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions. Max Life Insurance is only the name of the insurance company and Online Savings Plan is only the name of the unit linked life insurance contract and does not in any way indicate the quality of the contract, its future prospects or returns. Please know the associated risks and the applicable charges from your Insurance agent or the Intermediary or policy document of the insurer. The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these funds, their future prospects or returns.
Some benefits are guaranteed and some benefits are variable with returns based on the future performance of your Insurer carrying on life insurance business.
Assumed rates of return (4% and 8%) are not guaranteed and they are not the upper or lower limits of what you might get back, as the value of your policy is dependent on a number of factors including future investment performance. The guaranteed and non-guaranteed benefits are applicable only if all due premiums are paid.

THE LINKED INSURANCE PRODUCTS DO NOT OFFER ANY LIQUIDITY DURING THE FIRST FIVE YEARS OF THE CONTRACT. THE POLICYHOLDER WILL NOT BE ABLE TO SURRENDER/WITHDRAW THE MONIES INVESTED IN LINKED INSURANCE PRODUCTS COMPLETELY OR PARTIALLY TILL THE END OF FIFTH YEAR.

Insurance is the subject matter of solicitation. For more details on the risk factors, Terms and Conditions, please read the sales and rider prospectus carefully before concluding a sale. Tax benefits are eligible for tax exemption on fulfilling conditions mentioned under Section 10(10D) of income tax act 1961. Tax exemptions are as per our understanding of law and as per prevailing provisions of income tax at 1961 . Policy holders are advised to consult tax expert for better clarification /interpretation. Please note that all the tax benefits are subject to tax laws at the time of payment of premium or receipt of policy benefits by you. Tax benefits are subject to changes in tax laws. The monthly Income Benefit and Terminal Benefit may be taxable subject to extra premium being loaded at underwriting stage.

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