Max Life Group Super Life Premier in lieu of EDLI

Great organizations are driven by happy employees. Business owners realize the importance of keeping their workforce motivated. That’s why ensuring competitive compensation and benefits is important. As a crucial component of employee benefits, group insurance can help you create a safety net for your employees and their families. Max Life Group Super Life Premier is one such plan that helps you offer financial security to your employees. It is also a better alternative for EDLI Plan of EPFO.


As per the government norms, it is mandatory for employers to subscribe an EDLI (Employee Deposit Linked Insurance) plan for all employees who are covered under Employees' Provident Fund. However, under EDLI scheme, benefits do not exceed ₹3,60,000. Max Life Group Super Life Premier can extend life coverage benefit up to ₹6,00,000. As this plan helps you offer better benefit to your employees, you can get an exemption from the EDLI scheme.


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 tax benefits while meeting compliance

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.

Minimum entry age - 18 years age last birthday

Maximum entry age - 74 years age last birthday

Maximum maturity age - 75 years age last birthday

Maturity age/Cover ceasing age will be determined as on Policy anniversary following or coinciding age 75 years

Minimum Uniform Sum Assured - Rs. 6,01,000 per member

Maximum Sum Assured - Rs. 6,10,000 per member

Tenure - One year and renewable thereafter

Payor of premium - Employer

Minimum group size - 10

Maximum group size - No limit

Minimum Premium - Rs. 5,000 per annum per scheme

Premium mode - Annual, semi-annual, quarterly, and monthly

Downloads Actions

Policy Contract
Premium Rates Table

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



(Source : As per Annual Audited Financials, FY' 19-20)

Max Life Presence

239 Offices

239 Offices

(Source : Annual Results Release FY18-19)

Sum Assured

₹7,03,972 Cr.

₹7,03,972 Cr.

In force (individual) (Source : Public disclosure FY18-19)

Assets Under Management

₹62,798 Cr.

₹62,798 Cr.

(Source : Public disclosure FY18-19)

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

“We are an employee first organization offering best of the benefits to our employees and their families. After evaluating several group insurance scheme for employees, we shortlisted Max Life Insurance. Their plans meet our specific requirements. We were very impressed with their prompt response and I think their support is among the best in the industry.”

CEO, a leading Pharmaceutical Company in India

Let’s Connect

Let’s Connect

Online Plus Helpline
1800 200 3383
 (08:00 AM to 09:00 PM Monday to Saturday)
SMS 'LIFE' to 5616188

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Customer Service Helpline
1860 120 5577
(9:00 AM to 6:00 PM Monday to Saturday)
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Please write to us incase of any escalation/feedback/queries.

Write to us
NRI Helpdesk
0124 - 5098162; 0124 -  4905150
(9:00 AM to 6:00 PM Monday to Saturday)