Term Insurance

“Term insurance is the simplest and purest form of life insurance, offering financial coverage to the policyholder against fixed premiums for a specified duration – hence the name ‘term’ insurance policy. Choosing and investing in the best term insurance plan is of utmost importance to anyone who has dependents and the best term insurance plan in India provides security as well as value for money. The premium for the best term insurance plan depends on various crucial factors including age, gender, premium payment term, policy term, sum assured, etc. chosen by you and policy term.”...Read More

Term Insurance and Investment Plans

tax-icon.svg Tax Savings upto Rs 46,800##
guard-icon.svg99.34% Claims Paid Ratio^
discount.svg5% Discount3
zero-commission.svgZero Commission#~

Insure your future, start now.


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What is Term Insurance?

Term insurance is a pure life insurance product, which provides financial protection to the policyholder. In case of death of the insured during the policy period, the beneficiary receives a death benefit as defined under the chosen term insurance plan.

EXAMPLE: A 24-year-old healthy, non-smoking male can secure a cover of Rs. 1 crore for his dependents for the next 25 years. If he buys a term insurance policy, he will only pay approximately Rs. 690 per month, exclusive of taxes (Premium for Max Life Smart Secure Plus Plan).


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Why should you Buy Term Insurance

People from all walks of life realize the importance of life insurance and this leads them to seek out the best term insurance plan based on their requirement. Amidst the fast pace of life and rising uncertainties in the form of COVID 19 disease, every family needs financial protection under a term plan to deal with the financial impact of losing a loved one, especially the breadwinner. It also helps the family in paying off the debts, such as car loan and home loan, if any.
Here are a few reasons why buying term insurance is worth it:

To Secure Your Family’s Future

Being an earning member of your family, you are responsible for the overall well-being of your spouse, parents, and children. Buying term insurance is essential to ensure that you meet the obligations for your loved ones even when you are not around.

To Protect Assets

You might have built assets like a home, office, or vehicles through loans. With a term insurance plan by your side, you can ensure that the load of these borrowings will not cause any hardship to your loved ones after you.
...Read More

Who should Buy Term Insurance Plan?

Death, disability, disease, all are realities seldom talked about. However, all three are realities we cannot possibly overcome with certainty. Term insurance is one tool, which can save you and your family from the financial hardships brought upon by these three and similar disastrous conditions.

Hence, all individuals who have financial dependents should buy a term insurance policy. They can be:



A term policy will act as a source of financial support for the children, ensuring that they do not miss life’s opportunities.

young individuals


Young professionals who do have many financial liabilities can benefit from lower of term premiums insurance plans.

newly married


With a term insurance plan, you can secure the financial future of your spouse, giving her a truly long-lasting gift.

Consider, for example, a family of four, where the father is the primary breadwinner & has bought a term insurance policy. The family needs about Rs.50,000 a month to fund regular expenses like rent, food, other groceries, electricity, water, education fee, etc. Debts, if any, are over and above this.

In case of an unfortunate event, life continues, and so do these quintessential expenses. The family will still need Rs. 30,000 to 40,000 a month to meet all their needs. In such an eventuality, opting for the best term insurance plan can provide your loved ones with adequate financial support in the following ways:

• A lumpsum to meet their immediate needs
• A regular income to meet their household expenses (if opted)

The loss of life cannot be compensated. However, a term insurance plan can help to tide over the financial requirements of a family.

Benefits of Buying Max Life Term Insurance


High Life Cover at Affordable Premiums

Term insurance plans offer significant life cover at a premium you can afford. Also, the earlier you buy a term plan, the lower premium you will need to pay for specific life cover

Protection from Illnesses

Various term insurance plans also offer critical illness benefits to help you avail good treatment for life-threatening diseases without worrying about the costs. You can avail critical illness cover for more than 64 diseases by opting for Critical illness rider with Max Life Smart Secure Plus Plan (A Non-Linked Non-Participating Individual Pure Risk Premium Life Insurance Plan UIN:104N118V04)

Long Term Coverage

ou can choose long term insurance cover till the age of 85 (subject to maximum policy term of 50 years) to leave a legacy for your family at a price you can afford. This benefit of long term coverage is one of the many factors that you need to look for when seeking the best term insurance policy for yourself.

Disability Benefits

Accidents can happen unexpectedly and may lead to temporary or permanent disability.Disability benefit with a term plan will provide you financial support in case of accidental disability(available on payment of additional premium).

Income Options in case of Unfortunate Events

You can get a regular income stream along with a lump sum benefit under a term insurance policy to ensure day to day living expenses of dependents are met.

Protection Against Liabilities

The sum assured offered under a term plan will ensure safety for dependents from your financial liabilities like a loan and any other debt. They can easily pay off the debt from the insurance benefits received.

Riders for Additional Benefits

Term plans come with add-ons/riders that you can select to get additional insurance benefits. For instance, Max Life Waiver of Premium Plus Rider [UIN: 104B029V03] offers the benefit of waiver of all future premiums based on conditions specified in the term insurance policy document. The availability and affordability of riders like these can influence the choice of individuals seeking one of the best term insurance plans in India.

Multiple Premium Payment Options

With term insurance plans, you also get the flexibility to choose the premium payment tenure. You can either choose regular pay through the policy period or limited pay options with your term plan.

Tax Benefits

A term insurance policy offers tax savings up to Rs. 1.5 lakh on the premium paid under section 80C on Income Tax, as per prevailing tax laws. Also, the lumpsum benefit paid under a term plan is tax-exempted u/s 10(10D).

How Does a Term Plan Work?

●   A lumpsum amount is payable to your family in case of death of the policy holder under the chosen term insurance plan.

●   You can opt to receive the benefits under term insurance in the form of regular monthly income, along with lumpsum payment basis the variant opted.

●   Riders can be added to the base term insurance plan for improved benefits in case of accidental death, disability, or critical illnesses at an affordable price.


Why Buying Term Insurance is a Must During COVID-19 Pandemic?

During COVID-19 times, many people have lost their lives. In such challenging times, it has become crucial to buy term insurance that provides option to add COVID-19 rider.Term insurance plans from Max Life Insurance cover death claims caused due to Coronavirus. However, you can opt for Max Life COVID 19 One Year term Rider to get additional benefit of diagnosis and death benefits.


Features of a Term Insurance Policy

Term insurance is that form of life insurance that is most easy to understand. There are several advantageous features of a term plan that you should know before buying one.

Save Tax U/S 80C & 80D (Income Tax Act 1961)

The premium you pay for your term insurance plan can save tax for you. Critical illness premium paid under the term insurance policy saves tax for you u/s 80D, while term insurance premium is counted u/s 80C of Income Tax, subject to conditions. Tax benefit are as per prevailing tax laws which are subject to change.

Long Policy Term

You can opt for a longer term for your term plan to stay protected. You can stay covered for up to 50 years with a term life insurance of Max life.

Low Entry Age

Most term insurance plans have a minimum entry age of 18 years; that is, you can buy term insurance cover as soon as you hit adult age.

Death Benefit as Regular Income

Modern term insurance plans allow you to give your dependents a regular income along with the lumpsum benefit in the event of your unfortunate demise.

Premiums Returned on Survival

You can now receive all your money back if you survive the term insurance tenure. Term insurance plans with the return of premium benefit offer to return all the paid premiums on the policy as survival benefit.

Disability Benefit with Term Insurance Plan

Any kind of disability due to accident or illness can affect your income earning capacity. You can add disability benefit rider with your term insurance plan at affordable prices. The disability cover is available on payment of additional premium with the base term insurance premium.

Cover Against Life-Threatening Diseases

Cancer, heart attack, renal failure are some curable diseases that can be life-threatening. Don’t let money concern you on the way to the cure from these diseases. Critical illness cover is available with term insurance plans on payment of additional premium.

High Maturity Age

Of all life insurance plans, term insurance offers the life cover for the highest age bracket. You can continue term insurance cover up to the age of 85 with term insurance plans from Max Life Insurance.

What are the Types of Term Insurance Plans?

Basic Term Insurance Plan

Basic term insurance plan is the one with life cover and pays a death benefit in a lump sum only. This type of term insurance plan does not have any maturity benefit.

Term Insurance Plan with Monthly Income

A term insurance plan with monthly income gives you the option to ensure a regular stable income to your family apart from a lump sum death benefit.

Term Insurance Plan with Growing Monthly Income

Inflation is a major factor when it comes to regular household expenses. Term plan with growing monthly income gives the death benefit as growing regular income to your family along with a lump sum amount.

Term Insurance Plan with Return of Premium (TROP)

Term plan with return of premium is a specific kind of term insurance plan where all the paid premiums are returned back to you at the end of the maturity.

Group Term Life Insurance Plan

Financial security is one of the essential needs of your employees. Group term life insurance plan is the most affordable way to ensure financial security for your employees families.

Term Insurance Plan Variants

Plan VariantsBenefits in Brief
Basic Term PlanDeath benefit in a lump sum amount for an affordable premium
Term Insurance with Monthly IncomeRegular stable income for family along with death benefit
Term Insurance with Growing Monthly IncomeGrowing income for family along with death benefit
Term Plan with Return of PremiumReturn of premiums paid on maturity, along with death benefit during the policy period
Group Term InsuranceLife cover for a group of people under one policy

What is Rider?

A rider is an amendment or attachment with a life insurance plan that adds additional coverage above its basic insurance benefits. In other words, it aims to strengthen a life insurance with multiple benefits, apart from its base offering.

The following table includes various riders offered by Max Life Insurance:

Rider NameKey Benefits
Comprehensive Accident Benefit Rider (UIN: 104B025V02)Additional protection benefits in case of an accident, leading to death or dismemberment
Waiver of Premium Plus Rider (UIN: 104B029V02)Waiver of all future premiums in case of an eventuality, including dismemberment, death, and diagnosis of specific critical illnesses
Critical Illness Benefit RiderPeriodic or lump sum benefit when diagnosed with a critical illness defined in the policy

How to buy Term Insurance?

  • Step One

    Estimate Your Sum Assured

    Analysis of financial need and visit the website and click on Calculate Premium to start the process of term insurance purchase. The first form of our term insurance calculator only asks a few basic questions related to age, contact information, smoking habits,and annual income.

  • Step Two

    Choose Your Benefits & Get a Quote

    You can select multiple benefits of term insurance plan like, such as the regular monthly income payout option, return of premium option, critical illness benefit.

  • Step Three

    Fill the Details & Pay the Premium

    Once you are satisfied with your choices of benefits under our term insurance plan, , you can pay the premium and fill the additional details. After filling the details, submit the documents required to complete your application of buying a term life insurance policy.

How to Choose the Best Term Insurance Plan?

Whether it is buying a new car, clothes or a house, we tend to compare all available options before selecting the best one that we can afford. So it is only logical that we find ways to compare available options to seek out the best term insurance plan that we can afford. While selecting a term insurance plan, you need to look for the following factors and ensure that your family has the best financial protection under the term life insurance policy:

Check Claim settlement/paid record of the Insurer i.e. claims paid ratio

The claim settlement record of a life insurance company indicates the ultimate moment of truth for the customer. It can be assessed through a percent number (Claim Settlement Ratio) released by IRDAI (Insurance Regulatory and Development Authority India) every year. A consistently good claim settlement ratio or claims paid ratio indicates a robust and quick settlement process for claims filed under life insurance plans. It means your dependents will easily receive the death claim benefit from the insurer under the chosen life insurance plan. Max Life’s claim paid ratio for the year 2021-22 is 99.34%.^ (Source:As per IRDAI Annual Report 2021-22^)

Know the Existing Customer Experience

Buying a term insurance plan is usually only the start of the story. You need to manage your term insurance policy to maximize the benefits. While the best term insurance plans can be feature-rich and affordable, the importance of providing a good customer experience cannot be overstated.The customer service from life insurers can help the policyholders stick with them longer. Persistency Ratio declared by IRDAI annually can help you judge the insurer’s service quotient.

Max Life’s persistency ratio has been 85%, which is a testament of the customer’s satisfaction and loyalty towards the company*

(Source:Public Disclosure FY 2021-22)

Check Solvency Ratio

Solvency ratio, as per its basic definition, the solvency ratio of an insurance company is the size of its capital relative to all risks it has taken. In other words, it represents the financial situation of the insurer as per solvency norms. By checking solvency ratio of an insurer, you can identify whether the company has enough funds to settle claims in both long and short term. Max Life Insurance has a solvency ratio of 201%, which is way above the IRDAI mandate of 150%#* . (#* Source:Public Disclosure FY 2021-22)

Know About the Benefits of a Term Plan Before Buying It

Lack of awareness about the term insurance policy benefits often creates confusion in the minds of policyholders. It may also cause hassles at the time of filing a claim under the policy. As a policy buyer, you should first look into the benefits offered by an insurer under a term policy and then match them with your financial needs. A careful analysis of benefits and needs helps a lot in selecting the most suitable term insurance policy.

Choose Term Insurance Riders Carefully

Death is not the only risk you need to cover against. Apparently, disability and life-threatening diseases can also damage your financial health. Adding rider which covers these benefits into your term insurance plan along with few additional value-added riders like ‘critical illness cover’ can ensure better financial backup. Max Life Insurance offers the benefit of Critical Illness coverage against 64 life-threatening health conditions as an additional benefit with Max Life Smart Secure Plus Plan (A Non-Linked Non-Participating Individual Pure Risk Premium Life Insurance Plan UIN:104N118V04). Also, term insurance premiums are not as high compared to other types of life insurance plans. Hence, adding these rider as added benefits to your term insurance plan does not burden your pocket much.

Look for Regular Income Payout of term insurance plan

Traditionally life insurance policies have been paying a large sum of money to the dependents of insured in case of any unforeseen circumstances. Often the dependents are not equipped to handle such a large sum of money to meet all their needs and goals. Term insurance plans also offer option to choose variant which offer as regular income options along with the lump sum so that they can look after their immediate needs while investing the lump sum for future goals. Thus, selecting a regular income payout option while buying a term insurance plan may save a lot of hassle for your dependents later.

Consider Service Quality and Online Availability

Service quality is yet another parameter that you must consider while choosing an insurer to buy term insurance. You must know and ask about this quality from your peers or check online reviews to ensure that you are dealing with a renowned insurance company. Also, you should check the online availability of the customer support team of an insurer for faster resolution of queries.

Check Awards & Recognition Received by The Insurer for Term Insurance Plans

Another factor you can use to determine one of the best term insurance plan for yourself is on the basis of awards and recognition that a specific term insurance plan or insurer has received from reputed organizations. For example, Max Life Insurance has been awarded ‘Best Term Plan Company’7 for Max Life Online Term Plan Plus and ‘Product of the Year’@ award for Max Life Smart Term Plan in the Term Life Insurance category in 2020.

Choosing the Best Term Insurance With the Right Sum Assured Option

One of the important factor of choosing the best term insurance plan for your family’s financial protection is deciding on the right sum assured. Know more on how to decide the best term life insurance sum assured option for you. You can also click on the below tabs to understand in details about following sum assured amounts:

Why Buy Term Insurance Online?

●   Easy to compare and buy term insurance

●   Comparatively lower term plan premium than buying offline

●   Facility to pay the premium via multiple secure payment options

How a Term Plan will secure your family’s future?

You can opt to receive the benefits in the form of regular monthly income, along with lumpsum payment

Riders can be added to the base Term plan for improved benefits in case of accidental death, disability, or critical illnesses.

A lumpsum amount is payable to your family in case of death of the policyholder

Term insurance is the most affordable form of life insurance providing coverage amount similar to that of traditional life insurance and minimal premium amount.

Critical illnesses during any phase of life can drain all your savings, with term plan you can make a choice to get critical illness coverage by adding riders.

The death benefit proceeds of term insurance plans is fully exempted as per the provision of the section 10(10 D)* of Income Tax Act 1961.

Term Insurance FAQs

Term life insurance is one of the best ways to secure your family financially in case of your untimely demise. Term insurance coverage provides a fixed amount of sum as a death benefit if you meet with life’s eventuality during the policy period.

It is a good idea to buy a term insurance policy as you only need to pay small annual premiums against a considerable sum. Moreover, the term insurance premium is also subject to tax deductions, which adds the cherry on the cake.

For example- You bought an online term insurance coverage worth Rs. 1 Crore for a 30-yearpolicy term. In the event of your untimely demise (within the policy term), your family will receive the entire 1 crore Sum Assured as a death benefit, subject to terms and conditions.

The term insurance coverage amount, thus, enables the insured’s loved ones to lead a decent life and achieve all their goals even in the absence of the breadwinner.

Moreover, buying riders like "Accidental Death Benefit Rider" helps to make the term plan more comprehensive. These additional benefits are available on payment of additional premium.

Therefore, buying the term insurance plan is a good way to offer financial security toyour family, after you are no longer with them.
The cost of a term insurance plan varies depending on various factors such as age, annual income, the amount and tenure of insurance coverage, health condition, and whether you are a smoker/non-smoker.Affordability of a policy is often one of the criteria that prospective policyholders use when selecting the best term insurance plan for themselves.
The maximum age to purchase term life insurance can be up to 60 years. If you choose to purchase Max Life Smart Plan with Return of Premium optional benefit, the maximum duration that you can buy this plan is 50 years. This means, incase you are buying the term insurance plan at the age of 25 years, then you can get coverage for upto 75 years.If you purchase it at the age of 35, you can get coverage upto 85 years. However, as the maximum age for coverage is 85 years, if you buy term insurance at the age of 40, you can get coverage only for 45 years, that is, till you turn 85
Term insurance does pay your family in the event of death, both natural and accidental. Term insurance provide your family with a certain amount of money, irrespective of the reason of death. However,you should know about some exclusions like Suicide , non-disclosure of rightful facts, that can lead to the decline of a term insurance claim. To know more about such exclusions, please refer to the term insurance policy document and term Conditions.
Experts usually propose a term life insurance cover, which is at least 10times your annual income, 15 to 20 times is always a better option. Include additional cover for your liabilities in it-home loan, vehicle loan, personal loan, and you are secured.

For instance, if your annual income is Rs. 10 Lakhs, it is ideal to buy a term life insurance policy of at least Rs. 1 Crore, assuming that you do not have other liabilities. In case you have a house mortgage of Rs. 25 Lakhs cover, include this additional Rs. 25 Lakhs as additional cover in your term life insurance coverage.

Deciding on how much term insurance cover you will need or calculating term insurance premium that you might need to pay can be a tedious process. Max life Term insurance calculator or Human Life Value Calculator can make the calculations easy for you.
Yes, you can have multiple term life insurance policies. You can take all policies from either one insurer or multiple insurers. With age, your lifestyle changes and liabilities increase, hence buying an extra life cover makes sense.

The maximum coverage, be it single or all plans combined, that one can avail is calculated basis his income, age, assets, and financial liabilities.

While buying multiple term insurance policies, you keep in mind these two important points:

  • Disclose all the existing policies that you currently own to the new insurer from whom you are buying the additional policy. This will help them assess your eligibility life cover.

  • Read the policy documents very carefully to understand all the features, inclusions, and exclusions. For example, in case of death due to accident or suicide, your nominee may receive the entire lumpsum from one insurer while receiving no money at all from the other insurer. This will be the case when the latter does not cover death due to accidents or suicide.
  • Since every person might have different life insurance requirements, there is no single correct answer to the question – “which is the best term insurance plan in India”. So, when buying a term insurance plan, you must check for the following pointers to make sure you have bought the term life insurance policy that is best suited to your needs -
  • Claim Settlement Ratio or claims paid ratio– This is the number of claims settled against total claims received by the insurer. You must choose the insurer with a higher claims ratio. The regulatory body, IRDAI, publishes this for each life insurer in its Annual Report.

  • The claim settlement ratio for Max Life Insurance is 99.34^% for individual business policies.(Source: As per IRDAI Annual Report 2021-22^)

  • Solvency Ratio– This ratio shows the financial ability of an insurer to pay it’s short-term as well as long term debts. Choose the insurer with a higher solvency ratio as it shows the strong financial strength of a company. It can be found in IRDAI’s annual report

  • For Max Life Insurance, solvency ratio is 201% for FY 2021-22.(Source: Public Disclosure FY 2021-22)

  • Product Features– After shortlisting the top insurers, you must read the product features in detail and pick the one that meets your personal needs and financial goals.
  • Term plan offers a sufficiently large amount i.e. sum assured to the family at the time of death of policy holder. The plan covers your family from the risk of death for alimited period called a policy term.

    Term insurance takes care of the family in such unfortunate times.
    List of documents which are required while buying a term insurance plan are:

      OfficiallyValid Documents:
    • Passport
    • Voter’s ID
    • Job card issued by NREGA duly signed by an officer of the State Government
    • Aadhaar Card
    • National Population Register containing details of name, address and Aadhaar number
    • Or any other document as notified by the Central Government
    • PAN Card/Form 60 in addition

      If the officially valid documents do not contain an updated address, you also need the following documents:
    • Utility Bill (Not more than two months old) of any service provider (electricity, telephone, postpaid mobile connection, piped gas, water)
    • Property or Municipal Tax Receipt
    • Pension or family pension payment orders (PPOs) issued to retired
    • Employees by Government Department or PSUs, if they contain the address
    • Letter of allotment of accommodation from employer issued by State or Central Government departments, statutory or regulatory bodies, PSUs, scheduled commercial banks, financial institutions, and listed companies

      Income Proof for Salaried Individuals
    • Bank statement showing salary credit for the latest three months
    • Latest 2 years Income Tax Returns
    • Latest year Form 16
    • Latest 2 years Income tax returns not filed in the same year along with Computation of income
    • If Computation of income not available: Latest 3 years Income tax returns not filed in the same year
    • CA certified Audited balance sheet and profit loss account for the latest 2 years
    • Form 26 AS

    While purchasing a term insurance policy online, you just need to upload the attested copy of the above documents.
    Yes, Term plans can be purchased directly from the website from most of the insurers, in a matter of minutes. Buying online gives you convenience and speed to buy term insurance plans.

    Research shows that in some cases, term insurance plans available online can cost up to 8% lesser than offline plans with the same features and benefits. Key factors that influence the cost of buying term insurance online is the absence of an insurance advisor (distribution costs and commissions is saved) and savings from overheads (documentation, logistics, stationery, etc.).

    To pay term insurance premiums online, you can choose from a whole host of fast and secure payment options like net banking, debit cards, credit cards, and more. Because all payments are instantly processed through a secure gateway, you are ensured peace of mind. The payment process is quick, hassle-free, and provides an instant online receipt. This is especially ideal for times when you need to furnish documents for claiming tax exemptions quickly.
    It entirely depends on your annual income, your age and other factors. Ideally, the risk cover should be 10-20 times of your annual income.
    A term insurance policy also offers tax deductions to lower your tax outgo. As per Section 80C of the Income Tax Act 1961, the premium paid towards term insurance policy gets a tax deduction for up to Rs 1.5 lakh. Similarly, for critical illness benefits, you can get tax benefits under Section 80D. Moreover, the benefits received by your family will also be tax-free. For any tax-payer, these tax benefits are like icing on the cake.
    Yes. A term plan can be used to repay liabilities like home loan and personal loan. The nominee who receives the benefits of a term insurance policy is free to use the amount to maintain family’s lifestyle while also reducing financial burden of any kind.

    Common Customer Queries Resolved


    Although it is not necessary to buy a rider with term insurance, it is wise to include the additional coverage. Term insurance policies from Max Life Insurance offer the core benefit of insurance coverage against the contingency of untimely demise along with several rider options.

    These riders, available at a nominal additional premium, help increase the coverage of your term insurance cover. Under these, you get additional benefits against loss of income, accidental disability and dismemberment, and life-threatening ailments such as cancer, critical illness cover..

    Life insurance plans offer protection to your family members against financial insecurity if something happens to you. In case of your untimely demise, your family member (nominee) will receive the insurance benefit (Sum Assured) in the form of a lump sum or monthly payments. Ideally, you can select someone who will be impacted financially, if anything were to happen to you.

    Your parents, spouse or children are mostly considered as rightful nominees under your life insurance policy. You can also choose multiple nominees under a policy.

    In some cases, buying a term insurance from an agent may be expensive than buying the same directly from the life insurance company online.

    Term plans are pure risk life insurance plans. In other words, these insurance plans only provide payouts in case of untimely demise of the policyholder within the policy period. If you survive the coverage period, policyholder do not get any survival benefits.

    Also, traditional term insurance plans offer higher insurance coverage at a lower rate of premium payable compared to life insurance.

    Life insurance policies may comprise of both insurance and savings/investment part. Life insurance plans from Max Life Insurance offer both death and maturity benefits to the policyholders.It is crucial to first compare different life insurance policies before selecting a plan that aligns with your financial needs and requirements.

    Traditional term insurance plans only offer a death benefit, i.e. your family would receive the insurance benefit only in case of your untimely death within the coverage period. If you survive the policy tenure, you will not receive any survival benefits from the plan

    On the other hand, if you opt for Term Plan with Premium back option from Max Life Insurance, you can avail both death and survival benefits. In case of your untimely demise, your family will receive the death benefit (or Sum Assured).

    Customer Reviews

    Max Life Term Plan

    “Max Life has helped me to identify the best term plan with adequate Life Cover for protecting my family’s future financial and giving me the peace to enjoy my present existence in this earth. Max Life has helped me to save through Endowment plans, thereby giving me a Guaranteed money at different stages of my life”

    P. Kesavan

    Max Life Term Plan

    “Over all online policy purchase process was easy and purpose form filling process was easy and online premium payment process was easy”

    Zaid Anwar

    Max Life Term Plan

    “Max Life Term Plan is first proper Term Plan to take care of me and my Family. With Max, I am at Peace of Mind with Max Life. I trust you and your Processes. I am Happy to have this Relationship. Manoj”

    Manoj Chandwani

    Max Life Term Plan

    “Life Insurance Products provide arrangements for future events and there are various requirements at different life stages. For events that are to occur beyond 10 yrs, Life Insurance products are the only option. Keeping above in mind, I have Term Insurance, Endowment products taken almost 19 yrs ago and they will give Tax Free Lump sum amounts; I have Guaranteed Income Products and also Annuity Plan. For little better return on my investment I have ULIP plans. I have products, that will provide 25 - 50 thousand every year on my Grand Children’s birthdate - Annual Gift from grandparents when we will not be around”

    Ashok Shah

    Max Life Term Plan

    “I had one endowment plan and one term plan with maxlife and I believe in making the difference with the help of MAXLIFE”

    Satish Kumar

    Max Life Term Plan

    “Thanks for the opportunity to secure life with Max Life, the best term plan comparatively in the market which i opted today and seen that, this plan assisting many with the good claim settlement ratio by Max Life a trusted term insurance company.”

    Naresh Vattela

    Max Life Term Plan

    “My experience has been great with Max Life Term Plan. I truly believe that it is the best term insurance that I have chosen for financial security.”

    Roshni Mudliyar

    Max Life Term Plan

    “I bought the best Max Life Smart Secure Term Plan! from your team. Thanks for the assistance. ”

    Kiran K

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    Key Takeout

    • Payment flexibility:  Policy holder can decide how they want to pay their premiumsdepending their financial capabilities, the choice being annual, semi-annual, quarterly,weekly or monthly. There are plans that also offer a choice between single pay or limited premium
    • Rider Add On: In order to enhance your coverage and protection, every term plan gives you an option to add additional riders in case of injury, accident, disease or disability that come with some extra charges
    • Low entry age: With minimum entry age of 18 years, you can buy term insurance as soon as you become an adult.
    • Covered against life threatening diseases: Cancer, renal failure, heart attack, etc. are covered under term insurance on payment of additional premium.

    Easy To Use Calculators For You

    How much term cover do I actually need?

    Term Plan Calculator

    How much would your family need?

    Human Life Value Calculator

    Calculate your income tax based on your taxable income

    Tax Calculator

    Common Term Insurance Terminology

    The amount of protection that the policyholder will receive based in the terms of policy.
    Insurability means all conditions that affect the health, susceptibility to injury and life expectancy of an insured.
    Insured is the person who is covered in the insurance policy.
    The maturity date is the date when the amount paid towards the life insurance policy is given to the policyholder once the term of the policy ends.
    The amount given to the insured at the end of the maturity period is called the maturity claim.
    This is when the policyholder or insured officially authorizes another person to receive any monetary benefits of the policy. The authorized person is the Nominee.
    The amount paid by the insured, either in a lump sum or in periodic amounts, to the insurance company under the life insurance policy.
    The surrender value is the amount paid to an insured who wishes to terminate the policy before its maturity date.
    The age at which the insured starts receiving pension from the insurance company in an insurance-cum-pension policy.


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