Max Life Group Super Life Premier 

Organizations these days have to often compete with each other to acquire and retain the top talent. They have to look for ways to keep their workforce motivated. To this end, ensuring competitive compensation and benefits is most critical. This is where group insurance schemes come into the picture. As a crucial component of the employee benefits, a group insurance scheme helps you create a safety net for your employees and their families. Max Life Group Super Life Premier is a flexible group plan that can be clubbed with available riders to enhance protection for your employees and their families.

 

3 reasons why this is an ideal plan for employers:

  • You can provide better financial protection to your employees’ families
  • With low cost insurance you can improve employee retention
  • You can get certain tax benefits based on the prevailing tax laws

What does this plan offer?

What does this plan offer?

Here’s all you need to know about this plan

Here’s all you need to know about this plan

Insert Image Death Benefit

In case of an employee’s death (natural or accidental), the employee’s family/nominee will receive a lumpsum.

The sum assured under death benefit can be based on one of the following:

  • A uniform cover for all members covered under the plan
  • Salary Multiple linked to service/outstanding service or age; or in bands of service or age; or by some objective formula
  • Grade wise cover based on category of member
  • Any other sum chosen by the customer suiting his/her needs basis the scheme rules

Benefit formula would be chosen in such a way that a minimum Sum Assured is ₹5,000 per member

Insert Image Surrender Benefit

In case a member exits from a scheme, he/she will receive a proportionate refund of premium for the unexpired period of risk.

  • In case of employer-employee scheme, if an individual member exits from the group due to reasons other than death, cover will continue till the end of the period of coverage for which the premium has been received unless specifically a request is received for the refund of premium for the unexpired period of risk.

  • In both employer employee schemes and non employer employee schemes, on surrender of the master policy, an option to the individual members of the group shall be provided whether to continue the cover for the unexpired period of risk or to exit from the scheme in which case we shall be providing the refund of premium for the unexpired period of risk, in accordance with section 35 (l) of the non-linked product regulations 2013

Insert Image Tax Benefit

Get tax benefits1 on premiums and claims based on the prevailing tax laws

  • Premium paid by the employer would be treated as business expense under section 37(1) of the Income Tax Act, 1961

  • All death claim payments are exempted from tax under Section 10(10D) of the Income Tax Act, 1961

Insert Image Add-on benefits

You can get certain add-on benefits (Additional Options subject to underwriting) for your employees.

These benefits may include:

  • Spouse and Dependent Cover- employer can include employees’ family members in the scheme

  • Voluntary Top-ups - employees can opt for additional Sum Assured

For more details please refer the policy brochure or get in touch with our corporate manager.

 
  • Policy Term - 1 year
  • Minimum group size - 10 Members in case of Employer-Employee Groups and 50 Members in case of Non-Employer-Employee Groups
  • Maximum group size - No limit
  • Event covered - Death (natural or accidental)
  • Minimum sum assured – ₹1,00,000 for a scheme. ₹5,000 for a member
  • Maximum sum assured - No limit, but subject to underwriting
  • Minimum premium - ₹5,000 per annum per scheme excluding extra mortality, rider premium, and taxes, cesses & levies as imposed by the Government.
  • Maximum premium - Subject to board approved underwriting policy
  • Minimum Entry Age: 18 years (age last birthday)
  • Maximum Entry Age: 74 years (age last birthday) for employer-employee groups; 64 years (age last birthday) for non-employer-employee groups
  • Maximum Maturity Age: 75 years (age last birthday) for employer-employee groups; 65 years (age last birthday) for non-employer-employee groups. Maturity age/Cover ceasing age will be determined as on Policy anniversary following or coinciding age 75/65 years, as the case may be.
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Prospectus

Leaflet

Premium Rates Table
Policy Contract

Additional Benefits through Riders

Additional Benefits through Riders

Wondering how group plans offer better benefits over other forms of insurance?

Understand Group plans better

Why Choose Max Life

Here are some of the numbers which speak about our accomplishments

Why Choose Max Life

Here are some of the numbers which speak about our accomplishments
Claims Paid Percentage

97.81%

97.81%

Individual death claims paid in FY'17 (Src: IRDAI Annual Report FY 2016-17)

Max Life Presence

143 Cities

143 Cities

With 210 offices

Sum Assured

₹3,77,572 Cr.

₹3,77,572 Cr.

In force (individual) till FY'17 (Src: Public Disclosure, FY2016-17)

Assets Under Management

₹44,370 Cr.

₹44,370 Cr.

Till FY'17 (Src: Public Disclosure, FY2016-17)

More reasons why our customers choose us
What our customers have to say
What our customers have to say

It is not what you do, but how you do that makes the difference. This focus on doing things the right way allows us to maintain highest of standards, both internally and also for our clients. We believe that Max Life Insurance also shares similar work ethos and their plans are among the best in the Industry. I will recommend Max Life Insurance to businesses and organizations who want to provide better benefits to their employees.

 

CEO

A leading online retailer in India

Let’s Connect

Let’s Connect

Buy an Insurance Plan
1800 200 5577
1800 200 3383 (Online Term Plan)

online@maxlifeinsurance.com
SMS 'LIFE' to 542524

Let us call you back
Customer Service
1800 200 5577

service.helpdesk@maxlifeinsurance.com
SMS 'QUERY' to 542524

Write to us
NRI Helpdesk
0124 - 2385240; 2542001; 3812932

nri.helpdesk@maxlifeinsurance.com