Max Life Term Insurance Plans

Happiness is an infectious feeling and we want to ensure that our loved ones lead a happy, comfortable life while achieving their life-goals. All this depends a lot on our financial resources and its stability. Term insurance plans can provide financial protection for your family, helping them maintain their lifestyle even in your absence. 

Max Life Term Plans provide a smart way to manage your finances with flexible options that suit your life stage and financial goals. 



What Are Term Insurance Plans?

A term insurance plan is the simplest form of financial protection that can help your family meet its financial needs in your absence. Term plans offer peace of mind with affordable premiums and a life cover that you can choose depending on your family’s lifestyle and financial needs. Without any lengthy paperwork, some of these term plans can also be bought online within a few clicks.


Why You Should Get a Term Plan? 

Some of the powerful benefits of term plans are:

1. Term Plans provide high life insurance cover at affordable prices

2. Term Plans help you protect your loved ones from any unforeseen eventuality

3. They help you cover your liability

4. They also offer tax benefits on premiums paid and the payout recieved


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Who Should Buy a Term Plan

  • If your age is between 18 - 60 years
  • If you are providing for your family's financial needs
  • If you want them to continue their lifestyle even in your absence

How a term plan will secure your family’s future?


How a term plan will secure your family’s future?

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

  • plan-icon

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

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

Our range of Term Insurance Plans

Our range of Term Insurance Plans


  • Increasing life cover at 5% simple rate every year, till end of Policy Term, at no extra cost
  • Flexibility to choose the death benefit payout as lumpsum or as lumpsum plus monthly income
  • Choice of policy term from 10 to 35 years
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  • Coverage for up to 40 Critical Illnesses*
  • Flexibility to choose the death benefit payout as lumpsum or lumpsum with monthly income
  • Comprehensive coverage against death, disability, and diseases with riders*
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  • Guaranteed return of total premiums (including extra premiums) at maturity
  • Flexibility to choose a protection coverage period of 20/25/30 years
  • Limited premium payment term of 11 years and policy benefits continue for entire term
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*On Payment of Additional Premium

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
See how parents are fulfilling their child's dreams
See how parents are fulfilling their child's dreams

Frequently Asked Questions

Frequently Asked Questions

1. How term insurance works in India ?

Term Insurance Plans are the simplest form of Life Insurance products. The policyholder has to pay a premium amount, that is fixed for the entire duration, for a specified period of time. In case of an unfortunate death of the policyholder, the nominee receives a lumpsum payout. If the policyholder survives through the entire policy term, no payout is given either to the policyholder or the nominee.

Term Plans offers 2 unique advantages –

  • a) Higher Life cover at very cheapest term plan Premiums - This is a pure protection plan where payout is made only in case of death, there are no maturity benefits on survival. Additionally, these plans can be bought online which cuts the policy distribution cost. Thus, premiums are very very low. For example, you can get a a 1 Cr life cover at just Rs. 563 pm*.
  • b) Tax Saving Benefit – The premium paid is eligible for tax exemption under section 80 C.

2. Which is the best term insurance plan in India?

When buying a term plan, you must check for the following pointers to make sure you have bought the policy that best suits your needs –

  • Claim Settlement 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 it’s Annual Report.
  • 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. This can be found in IRDAI’s annual report.
  • Quality of Customer Service – This is most critical as it shows how much the insurer cares about a valued customer. Look at Customer Grievance rate (it is the number of customer queries resolved against total reported) in the IRDAI Annual report.
  • 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.

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

A Term plan is a pure protection plan which simply replaces the income earned by the family’s breadwinner in case of his death. Though, there is no perfect age to buy this plan, however, it is a fact that the younger you are, the cheaper the premiums. For the same 1 Cr life cover, the monthly premium will be ~600 for a 25 year male (non-smoker) vs ~1,200 for a 35 year male (non-smoker). Thus, makes sense to buy this plan as early in life as possible.

As you grow older, your lifestyle changes, liabilities as well as dependents increase (parents & children), buying a cover now makes sure your all family’s 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 unstable.

Thus, if protecting your family’s financial future even in your absence is one of your prime concerns, you should buy one immediately irrespective of your current age.

4. Are Term plans available online?

Yes, Term plans can be purchased directly from the website of some insurers, in a matter of minutes. Buying online not only gives you convenience and speed, but also offer the cheapest term insurance plans. Research shows that in some cases, online term insurance plans can cost up to 40% lesser than offline plans with the same features and benefits. Key factors that influence cost is the absence of an insurance advisor (distribution costs and commissions is saved) and savings from overheads (documentation, logistics, stationery, etc).

To pay 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 quickly furnish documents for claiming tax exemptions.

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 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 policies, you keep in mind these 2 important points

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

Most Popular Articles

Most Popular Articles

Top term insurance myths

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

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
1800 200 5577
1800 200 3383 (Online Term Plan)
SMS 'LIFE' to 542524

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1800 200 5577

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0124 - 2385240; 2542001; 3812932