Online Term Plan Plus

You work hard every day to make sure that your family gets the best in life. But have you ever thought, what will happen if you are not there to take care of them or get critically ill or suffer any physical disability?

Make sure you have a comprehensive plan that gives you protection against all uncertainties.

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.


What is a Term Plan?

Term Insurance is the most economical way of ensuring that your family’s standard of living is maintained even in your absence. You pay a nominal premium every year for a certain period of time to buy a life insurance cover, and in case of your unfortunate death during this time, your family is paid the amount promised to you by your insurer. Generally, no survival benefits are payable for a term plan. The premium you pay is tax exempt and the benefit that is paid to your family is completely tax free. 

How to choose the best Term plan?

1. A trusted brand, since you will be associated for 35-40 years with the brand

2. Go with the insurer who has a claim paid ratio of at least 95% consistently in the recent past years. For a Term Plan, claim payment is the moment of truth.

3. Comprehensive and flexible cover so that your family is protected financially not just against death but also against Critical Illness and Disability.

4. Affordable premiums. Term plans are the cheapest form of life insurance. If you want an option that is light on the pocket, opt for monthly frequency of paying premium

Read More Read Less

You must buy this plan because you get …

  • Comprehensive plan which covers not only Death, but also Disease and Disability
  • Option to Pay only till you work(till age 60), and get covered till 85 years
  • Option to Increase your life cover with important life events
  • Get peace of mind with high Claim Paid Ratio

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



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

Choose from three options for Max Life Online Term Plan Plus

Choose from three options for 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

Cover amount is optional.Above example is for representation purpose. Please get a personalised quote by clicking link below

Know More


Get Quote

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. 4,000 for 10 years
  • Effective Cost - Rs. 81/lac of cover

Cover amount is optional.Above example is for representation purpose. Please get a personalised quote by clicking link below

Know More


Get Quote

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. 4,000 that increases by 10% every year
  • Effective Cost - Rs. 78/lac of cover

Cover amount is optional.Above example is for representation purpose. Please get a personalised quote by clicking link below

Know More


Get Quote
See what people have to say about our Term Insurance Plans
See what people have to say about our Term Insurance Plans

Frequently Asked Questions

Frequently Asked Questions

1. How do term insurance plans work?

Term Insurance Plans is the simplest Life Insurance product and a must have for everyone. This is a pure protection plan where payout is made only in case of death, there are no maturity benefits on survival. In case of death of life insured, the nominee receives the death benefit payout.

Term Plans offers 3 unique advantages –

  • High life insurance cover at affordable premiums – Term insurance plans are the cheapest, for instance, you can get a Rs. 1 Cr life insurance cover with Max Life's Online Term Plan Plus at just Rs. 563/month*
  • Tax Saving Benefit to the Policyholder – The premium paid is eligible for tax exemption under section 80C.
  • Life Insurance claims proceeds are tax free in hands of the nominee - Death benefits are tax free under section 10(10D) of Income Tax Act, 1961.

2. What is the right age to buy a term insurance plan?

A Term plan is a pure protection plan which helps replace the income earned by the breadwinner in case of his death. It is a fact that the younger you are, cheaper the premiums. For a Rs 1 Cr term insurance cover, the monthly premium will be ~Rs 600 for a 25 year, non smoker male  vs ~Rs 1,200 for the same person at age 35. Thus, it makes sense to buy this plan as early in life as possible.

If you are in your 30's or 40's, your liabilities and dependents would have increased (parents & children). You must buy a cover now to make sure all the financial needs are met, even when you are not around.

Even if you have crossed 50 and nearing retirement, you should invest in a term plan. In case of your demise, the pensions will stop and then your spouse and dependent children will be financially vulnerable.

Thus, if protecting your family’s financial future in your absence is your prime concern, you should buy a term plan immediately, regardless of your current age. 

3. How do I decide which plan variant is best suitable for me?

Max Life gives you the choice to customize the term plan to suit your needs and choose how the insurance cover amount is paid to the family in the event of your death: 

1. Basic Life Cover - Your family gets the money as a one-time lumpsum payout that can help cover immediate liabilities

2. Basic Life Cover + Monthly Income - In addition to the lump sum payout, your family will get a regular, tax-free monthly income for the next ten years. This plan helps the family manage day-to-day household expenses like school fees, groceries etc

3. Basic Life Cover + Increasing Monthly Income - In this option, the monthly income increases by 10% each year which will keep it 'inflation proof'.  

If you feel confident that your family is financially savvy and will be able to manage future cash flows, you can opt for basic life cover. Otherwise, it is recommended to go for the income option. If you take into account the 10 year income in addition to the life cover, the effective cost per lac of payout actually comes to be cheaper than the basic life cover

4. Are riders important? Which one should I opt for?

Riders are an afforable and effective option to improve the comprehensiveness of your cover. They can be purchased only at the time of buying the term policy. Therefore it is advisable to carefully choose the riders that meet your requirements. 

Max Life offers the following rider options you can choose : 

1. Critical illness benefit option - Upon diagnosis of any of the 40 specified critical illnesses, the benefit amount is paid as a one-time lump sum. Cost Rs 308 p.m.* for coverage of Rs 10 Lacs

2. Max Life Waiver of Premium Plus Rider (UIN:104B029V02) - All future premiums waived in case of critical illness/disability.  Cost Rs 23 p.m.*

3. Max Life Comprehensive Accident Benefit Rider (UIN -104B025V02) - Get additional protection for accident leading to dismemberment or death. Cost Rs 67 p.m.* for additional coverage of Rs 10 Lacs

* All premiums have been quoted for a healthy male, age 28 years, non-Smoker for a policy term of 30 years, premium payment term of 30 years and are exclusive of GST

5. Can I have two Term Plans?

Yes, you can have multiple term life insurance policies. You can take all policies from either one insurer or multiple insurers. With age, your income and liabilities increase, hence buying an extra term life cover to sustain this lifestyle makes sense.

The maximum coverage is calculated basis your income, age, assets and financial liabilities, regardless of whether you buy single or multiple policies.

While buying multiple policies, you keep in mind these 2 important points

  • Disclose all the existing policies that you currently own to the new insurer from whom you are buying the new policy. This will help them assess your eligibility.
  • Read the policy documents very carefully to understand all the features, inclusions and exclusions.

Most Popular Articles !

Most Popular Articles !

Top term insurance myths - Know the truth !

Having a conversation about death is very uncomfortable and unthinkable, one of the main reasons why people procrastinate or avoid shopping for life insurance products. Other myths that people have due to low awareness of this category are - ‘Life insurance is not affordable’, ‘I am Single, I don’t need life insurance’, ‘It’s for older people’, ‘It’s only for earning members of the family’ and many more. This article tackles some of the most common but major misconceptions and myths about Life Insurance!

Is term insurance is an investment or an expense?

Term insurance plans are not an expense but a safety net that no other financial product can give and a wise financial decision. A term plan pays the promised money in case of the policyholder’s demise, any time during the entire policy term. This means that even if he dies after paying a single premium, the entire sum assured will be given to the nominee. Additionally, you can also save tax. This article helps you understand the benefits of a owing a term plan.

How to Evaluate a Term Insurance Quote

Term plans is the simplest form of protection plans which is easy to understand and is highly cost-effective. You start your purchase journey by calculating a premium quote. For the same person, you may get different quote amount from different companies. This is because there are many factors involved like change in base premiums, rider costs, tax component, lapse charges etc. This article helps you understand the factors so that you can make a smart buy.

Maximize Term Insurance Benefits with Riders

Riders are add-on benefits that are optional with a life insurance product. This helps you customize the plan basis your personal needs. Few critical and powerful riders that you must definitely consider during the purchase journey is Comprehensive Accident Benefit, Waiver of premium and Critical Illness. This article helps you understand the meaning and benefits of different types of riders so that you buy the best term insurance plan customizable for yourself.

Difference between Term Plan and Whole Life Plan

Term life insurance is the simplest form of life insurance, that offer a lump sum payment as Death Benefit and can be availed for a fixed term. Whole life insurance offers both, a death benefit as well as savings benefits. Both these plans have distinct features and benefits and one should choose the plan that best suits your requirements. This article helps you understand the proposition each plan offers and helps you take a right decision for yourself.

Let’s Connect

Let’s Connect

Buy an Insurance Plan
1860 120 5577
1800 200 3383 (Online Term Plan)
SMS 'LIFE' to 5616188

Let us call you back
Customer Service
1860 120 5577

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