Term Plan Variants Explained

The three term plan variants are illustrated below with their features and benefits:
Max Life Online Term Plan Variants' features Basic Life Cover Life Cover + Monthly Income Life Cover + Increasing Monthly Income

Death Benefit

100% Sum Assured

100% Sum Assured + 0.4% of Sum Assured per month for 10 years

100% Sum Assured + Increasing monthly income for 10 years (0.4% of Sum Assured for the first year, increasing every year by 10% of the first year’s monthly income)

Cover your financial needs

Paying off major debts & liabilities. Careful investing can also help meet long-term financial goals

Paying off small debts & immediate expenses & manage ongoing expenses

Paying off small debts & immediate expenses hedging against inflation risk

Total Protection Value

100% of Sum Assured

148% of Sum Assured

169.6% of Sum Assured

Cover Amount Range

Minimum: Rs 25 lacs,

Maximum: Rs 100 crores

Minimum: Rs 25 lacs,

Maximum: Rs 100 crores

Minimum: Rs 25 lacs,

Maximum: Rs 100 crores

Additional Riders

Max Life Comprehensive Accident Benefit, Waiver of Premium Plus

Max Life Comprehensive Accident Benefit, Waiver of Premium Plus

Max Life Comprehensive Accident Benefit, Waiver of Premium Plus

Tax Benefits

Under Section 80C, 80D, 80DD, 10(10D) as per prevailing tax laws

Under Section 80C, 80D, 80DD, 10(10D) as per prevailing tax laws

Under Section 80C, 80D, 80DD, 10(10D) as per prevailing tax laws

Age Limit

18 to 60 years, cover extending till 85 years of age

18 to 60 years, cover extending till 85 years of age

18 to 60 years, cover extending till 85 years of age

Policy Term

10 to 50 years

10 to 50 years

10 to 50 years

 

Term Insurance Plan is the most affordable life insurance product, offering the most substantial Sum Assured cover in the event of death of the insured within the given policy period. It is the easiest way of securing your family’s financial future, while sustaining their lifestyle and important milestones even if you are no longer around.

The Max Life Online Term Plan Plus is an affordable term insurance plan available online, with three death benefit options – Basic Life CoverLife Cover + Monthly Income and Life Cover + Increasing Monthly Income. Apart from the base variant, the other two variants offer monthly income benefits which are over and above the lumpsum Sum Assured payable on demise of Life Insured.

In addition to offering a lumpsum benefit, the Max Life Online Term Plan Plus supports your dependents with monthly income to sustain the lifestyle and liabilities, while also taking care of increasing living costs. Compare term insurance premium rates for Online Term Plan Plus, to decide upon the suitable option for you.

The Online Term Plan Plus comes with a 30-day Free Look Period and rewards for healthier living by offering lower premiums to non-smokers. Get a quick quote and choose the right term insurance plan for yourself today.

Disclaimer: Life Insurance coverage is available in this product. Max Life Online Term Plan Plus is a Non-Participating, Non-Linked Term Insurance Plan (UIN - 104N092V03). It provides only death benefit and no maturity or surrender benefit. For more details on the risk factors, terms and conditions, please read the product sales prospectus carefully before concluding a sale.


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Max Life Online Term Plan Plus

An affordable term insurance plan with three death benefit options