• Customer Login
    • Home>
    • Term Insurance Plans>
    • 1.5 Crore Term Insurance

    1.5 Crore Term Insurance Plan

    Investing in your family’s future is a smart move and it is always better to go an extra mile rather than ending up in an uncomfortable & perplexed situation. 1.5 crore term insurance plan is a financial solution that lets you do so without any additional burden! Let’s understand how it works....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#~
    banner3-desktop-rohitt-ritika.webp
    tax-icon.svg Tax Savings upto Rs 46,800##
    guard-icon.svg99.34% Claims Paid Ratio^
    discount.svg5% Discount3
    zero-commission.svgZero Commission#~

    Term Life Insurance

    ₹ 1 Crore Term Plan

    ₹ 2 Crore Term Plan

    Term Plan @ No Cost~1

    ₹ 3 L Premium Back^

    7.5%6 Guaranteed

    Buy Term Insurance Online
    and save up to 8% on premiums

    With Max Life Term Insurance Plan

    • benefits
      Buy Term Insurance
      @ Just Rs. 697~~/month
    • benefits
      Terminal Illness Coverage
      @ zero additional cost
    banner1-desktop-rohit.webp

    Insure your future, start now.

    Please provide following information correctly as it will be used to calculate your eligibility.

    we_dont_spam

    avatar-image

    Written by

    Reviewed by

    avatar-image

    Rohit Ghosh

    Insurance Writer

    Rohit Ghosh has authored and reviewed several informative articles on Life and Term Insurance during his experience working with top Life Insurance brands. During his experience in the Life Insurance sector he has been responsible for formulation of several integrated marketing communication strategies. In his current role with Max Life Insurance he is responsible for website content and experience enhancement

    avatar-image

    Bhaskar Sinha

    Insurance Expert

    8+ years of experience in Life Insurance with expertise in Developing Life and Health Products, Digital Sales, Conducting effective trainings and Key Account Management.

    1.5 Crore Term Insurance Plan

    1.5 crore term insurance plan can be considered as the simplest form of insurance policy that allows an individual to stay financially protected. Since it is a pure life insurance product, you can get the large cover at reasonable premium rates, especially if you buy the plan early in life..

    What Is 1.5 Crore Term Insurance Plan?

    Term plans are straightforward life insurance plans. Under this plan, the beneficiary receives a predetermined death benefit in case of the insured person’s demise during the policy period. As the policyholder, you have the control over the sum assured of the policy. So, if you were to opt for a term insurance plan with a cover amount of 1.5 crore, your loved ones would receive this sum in case of your untimely demise.

    It is increasingly becoming a popular choice among policy buyers due to the growth in financial responsibilities and liabilities. Purchasing a term insurance plan for 1.5 crore ensures that the cover amount is sufficient to sustain your loved ones in your absence, many years from now.

    calculatorBannerImg
    Family's Financial Planning Starts Here
    calculatorBannerTickIcon

    Tax exemptionup to Rs.54,600~#

    calculatorBannerTickIcon

    High life cover at affordable premiums

    calculatorBannerTickIcon

    Claim Paid Ratio^99.34%

    calculatorBannerTickIcon

    Coverage against 64 critical illnesses@

    Term Plan Calculator

    Secure your future in just 5 minutes

    35yrs
    18yrs
    25yrs
    35yrs
    45yrs
    55yrs
    60yrs

    Premium starting at
    Inclusive of GST
    ₹ /month

    Why Buy 1.5 Crore Term Insurance Plan?

    Securing your family’s future is a crucial decision. As a policy buyer, you may find yourself struggling with the number of different options available to do so. If you are contemplating whether you should purchase 1.5 crore term insurance plan, we are here to help you out.

    1.5_Crore_Term_Insurance_Plan-1.png
    Here are some reasons you should consider the 1.5 cr term insurance to get long-term financial security:

    Greater Coverage

    1.5 crore term insurance allows you to establish a strong financial safety net around your loved ones. It means that they will be able to sustain their standard of lifestyle and accomplish their dreams, even during difficult times in life.

    Cost-Effective

    Buying the 1.5 crore term insurance plan is one of the most cost-effective ways to secure your loved ones’ future since it allows you to pay nominal premium rates for a hefty cover. You can choose to stay covered under the policy for an extended period by paying minimal premiums.

    Additional Security

    In addition to the base cover of the 1.5 cr term insurance plan, you can choose to enhance your coverage with add-ons such as a critical illness benefit*, accidental death benefit*, waiver of premium benefit, etc.

    Security Against Loans & Liabilities

    In case of your untimely demise, your family can use the financial support from the 1.5 crore term insurance plan to pay off outstanding loans and liabilities.

    How Does Term Insurance 1.5 Crore Plan Work?

    A term insurance policy assures financial security to an individual’s family in the event of the insured's death within the policy's term. A 1.5 crore term insurance plan is a policy that provides to pay the nominee the sum assured of the stated amount in the event of the insured's death. This plan acts as a guardian for the policyholder's family, assisting them in meeting their financial needs and goals.

    Let’s understand how it works:

    • A term insurance policy is a type of life insurance that offers coverage for a specific period of time, or 'term,' as the name implies.
    • If the policyholder dies while the term plan is still active, the beneficiary is entitled to a death benefit from the insurance company. If you buy a 1.5 cr term insurance plan, for example, the entire sum assured will be paid to the nominee according to the policy terms and conditions.
    • If you have a young family, a term plan may be the most cost-effective way to insure your family's future. Even if you choose one of the best term insurance plan for 1.5 crore, the premiums will not be a problem if the policy term is long.
    • Your premium is fixed and does not change during the course of your insurance policy. As long as you pay your payments on time, you are insured.
    • Having an 8-figure sum set aside for contingencies can put your mind at peace and cover significant expenditures. Hence, buying a 1.5 crore term insurance plan can prove to be a smart move in the long run.

    How To Determine the Right Coverage Amount?

    Determining the right coverage amount for your insurance policy is essentially calculating your life’s worth and it can be a morbid task. However, the primary goal of life insurance is to offer financial support to your family and dependents in the event of your death. Hence, it is important to answer this question to ensure that you choose the right cover amount.

    1.5_Crore_Term_Insurance_Plan-2.png
    If you are wondering whether 1.5 crore term insurance plan is for you, consider these questions taking an example:

    What is your family’s income/expenses?

    The monthly expenses for Pranav’s family are Rs 80,000, totaling Rs 9.6 lakh per year. It is generally suggested that coverage be provided at a rate of 10-15 times annual expenses. While this is entirely up to Pranav, a multiple of 15 is advised in his situation to factor in increasing education costs, inflation rate and his parents' healthcare costs. Based on predicted household expenses, his coverage would be Rs 1.4 crore at a multiple of 15 times. Hence, choosing one of the best term insurance plan for 1.5 crore makes the most sense for him financially.

    What are the important life goals and events?

    Pranav has two kids who are approaching crucial milestones in life including their higher education and marriage. He wants the best for his children and has already started a building a corpus of Rs. 30 lakhs over the next 20 years by investing in mutual funds.

    These objectives would be jeopardized due to his premature death. As a result, it's a good idea to include this sum in Pranav’s term insurance requirements which makes the 1.5 crore term insurance plan a favorable choice.

    What are your liabilities?

    If Pranav has an outstanding home loan or car loan, it can become a significant burden on his family if he suffers a premature death. Hence, taking this liability into account is a wise move when determining the suitable cover amount for his term plan.

    What are your current assets?

    The investments you've made throughout the years are on the opposite end of the liabilities. Your family will be able to access these investments after you pass away. Your provident fund, mutual funds, fixed deposits, and other such investments are some examples. If Pranav has made 30 lakh worth of these investments, he can deduct this amount from the coverage required to secure his family.

    What is your life stage at the time of purchase?

    If Pranav is in his early thirties when he invests in the 1.5 cr term insurance plan, his financial planning would look different in terms of other investment priorities. This means that he can purchase the plan without affecting his overall financial standing much, since the premiums will be lower for him as opposed to if he bought the plan in his late 40s.

    Ideally, your term insurance cover shall be sufficient to satisfy all outstanding debts as well as provide a source of income for the covered person's family. Answering the above-mentioned questions will give you a clearer understanding of your future priorities and current situation to help plan for your family’s future effectively.

    typesOfInvestments

    Benefits of 1.5 crore Term Insurance Plan

    Before you can invest your money in one of the best term insurance plan for 1.5 crore, there are some benefits you should know to make the most of the policy:

    High Cover, Low Premium

    One of the most significant advantages of purchasing a 1.5 crore term insurance plan is that it will not add to your financial burdens, as one might assume. The premiums for term plans are quite low because they are the purest form of life insurance. Plus, you'll be able to focus on long-term savings and investments because of this.

    Flexibility of Payment

    Certain insurance policies allow policyholders to choose the payout option for the death benefit. For example, based on your financial needs at the moment, you can choose between receiving a monthly income payment or receiving the entire death benefit in one single sum if you purchase 1.5 cr term insurance.

    Customization Options

    Like any other insurance plan, you can attach riders to your 1.5 crore term insurance plan to boost the coverage. Riders such as accidental death benefit*, critical illness benefit*, maturity/survival benefit, and return of premium variant**( can be added to your term plan, allowing you to modify and adapt it to your preferences and needs.

    Enables Efficient Financial Planning

    When compared to an older person with pre-existing ailments, premiums are lower at a young age. So, if you purchase one of the best term insurance plan for 1.5 crore at an early life stage, you can save your money in the long run.

    Tax Benefits#* 

    The sum assured, or death benefit, of term insurance policies is totally tax-free, according to Section 10(10D) of the IT Act. So, whether you have a term insurance policy worth Rs 50 lakhs or Rs 1.5 crores, the payout, as well as any additional incentives, would be tax-free. Moreover, you can claim tax deductions on the premiums paid towards the 1.5 cr term insurance.

    #*Tax benefits are subject to changes in tax laws.

    Who Should opt for Term Insurance Cover of 1.5 crore?

    1.5_Crore_Term_Insurance_Plan-4.png

    There is no one-for-all insurance policy or cover amount that suits everyone. Your financial profile is unique, and it is a personal financial decision whether you wish to get security with the best term insurance plan for 1.5 crore. However, following are some scenarios which make can help you identify whether it is for you:

    • If you have any dependent family members, it is prudent to purchase at least a 1.5 Crore term insurance policy, considering the inflation rates, rising education and healthcare costs. In order to determine the premium amount of the 1.5 crore term insurance plan, you can make use of the term insurance premium calculator.
    • Individuals who are the family's sole breadwinner should look for the best term insurance plan for 1.5 crore to ensure that their families are sufficiently insured in the event of their death.
    • These plans are best suited for individuals aged 25 to 35, as the policy term of 1.5 cr term insurance can be spread across several years of your life.
    • These plans are appropriate for those with an annual income above 5 lakhs.
    • Finding the best term insurance plan for 1.5 crore can also be a wise choice if you are the single breadwinner with several dependents.
    • In case you have liabilities such as outstanding loan repayments at the time of purchasing the insurance policy, it is best to go with one that offers a larger cover amount, so your family does not have to suffer in case of your untimely demise.

    How To Select Relevant Term Insurance Plan?

    For most of us, the key consideration when buying an insurance policy is the premium amount. This amount is determined by a number of factors, including age, number of riders, annual income, and so on.

    So, to assist you in choosing one of the best term insurance plan for 1.5 crores, we've put together a table that compares premium expenses for various age groups for basic coverage and base coverage plus rider of Max Life Smart Secure Plus Plan [A non-linked non-participating individual pure risk premium life insurance plan | UIN: 104N118V05]. Let's have a look at some examples:

    The following figures are calculated according to: Gender (Female) + DOB + Non-Smoker + Annual Income (5-7 lakhs) + Salaried Individual + Coverage upto 75 years of Age

    *Premiums are exclusive of GST


    AgePremium for 1.5 Crore Term Insurance Plan (Monthly) 1 Premium for 1.5 Crore Term Insurance + 1Critical Illness & Disability Rider# (Monthly)Premium for 1.5 Crore Term Insurance + 2Waiver of Future Premium Rider# (Monthly)
    20Rs. 886Rs. 963Rs. 909
    30Rs. 1,240Rs. 1,365Rs 1,293
    40Rs. 2,100Rs. 2,314Rs 2,251
    50Rs. 4,093Rs. 4,411Rs 4,609
    60Rs. 8,079N/ARs 9,046

    1

    Premiums exclude GST. CIDR rates mentioned in the table are for a sum insured of Rs. 5 lakhs (base cover unchanged) for the CIDR Gold Variant, valid up to Base Term.

    1Critical Illness & Disability Rider (Non Linked Non Participating Individual Pure Risk Premium Health Insurance Rider| UIN: 104B033V01)|

    2Max Life Waiver of Premium Plus Rider (UIN: 104B029V04)

    Max Life 1.5 Crore Term Insurance Plan |Everything You Need To Know

    Max Life Insurance offers flexible and innovative term plans such as the Max Life Smart Secure Plus Plan [A non-linked non-participating individual pure risk premium life insurance plan | UIN: 104N118V05] that allows policy buyers to get a coverage of 1.5 crore at nominal premium rates. This 1.5 crore term insurance plan includes numerous base/built-in features, such as two death benefit options and a regular or limited premium payment option.

    1.5_Crore_Term_Insurance_Plan-5.png

    Some benefits of this policy that make it one of the best term insurance policies for 1.5 crore are

    Built-In Terminal Illness Cover

    In-built feature offering up to 1 crore payout on diagnosis of Terminalillness.

    Joint Life Cover*

    Policyholders get the option of opting for add-on coverage for their spouse.

    Premium Break## 

    This feature provides policyholders the option to skip paying premiums while being covered – twice during the policy term.

    Special Exit Value

    Another in-built feature with surrender offering whereby the policyholder has the option to receive all premiums paid back at one specified point during the policy term.

    Top-Up Sum Assured*

    The option to voluntarily top-up to 100% of the base sum assured coverage.

    The Smart Secure Plus Plan by Max Life Insurance aims at making the policyholder’s and their family’s lives easier by providing adequate financial security. So, even when you're not present, you can rest assured that your family's future is in good hands.

    Check out the different Online Insurance Plans from Max Life!

    • Max Life Smart Secure Plus Plan

      Comprehensive death benefit for your family member(s) in case of your unfortunate demise during policy term

      Guaranteed maturity benefits/Income Benefit and accrued guaranteed additions to help meet your life goals

      Multiple variants - lumpsum; short term income, long term income, and whole life income with unique benefits

      Know more
    • Max Life Smart Term Plan

      Financial protection against critical illnesses, including heart attack, cancer, and kidney failure

      Flexibility to choose the most suitable premium payment options that fits your budget and income

      Life coverage along with return of premium option to get the premiums paid back as a survival benefit

      Know more
    • Max Life Online Savings Plan

      Comprehensive death benefit covering the policy tenure, along with saving money for various life goals

      Monthly income, accrued bonuses, and flexible fund options for the policyholders with no policy charges

      Flexibility to choose a policy term up to 85 years, premium payment term and payouts to fit your needs

      Know more
    • Max Life Cancer Insurance Plan

      A comprehensive Cancer Insurance Plan that provides a payout at all stages of Cancer

      Get 10% increase in original sum assured in case of no claims for the first 5 years

      20% of Sum Insured - Waiver of premium, in early stage diagnosis

      Lumpsum payout - annual income for 5 years in major stage diagnosis

      Tax benefit under section 800, as per prevailing tax laws

      Know more
    • Max Life Smart Wealth Plan

      Comprehensive death benefit for your family member(s) in case of your unfortunate demise during policy term

      Guaranteed maturity benefits/Income Benefit and accrued guaranteed additions to help meet your life goals

      Multiple variants -lumpsum, short term income, long term. income, and whole life Income with unique benefits

      Know more
    • Long Term Income

      Guaranteed Income benefit for 25 or 30 years after the policy period ends, as per the sub variant selected

      Terminal benefit which equals total premiums paid, post completion of the payout period payable to nominee

      Two premium payment options - 6 and 10 years to be chosen as per suitability of the plan for your needs

      Know more
    • Term Plan with Return of Premium

      Option to receive the premiums paid back on successful survival of the insured till end of policy term

      Death benefits for your family members in case of any eventuality leading to the loss of your life

      Limited pay options to pay for term plans with return of premium - 5 Pay, 10 Pay, 12 Pay, 15 Pay, or 60 Pay

      Know more
    • Max Life Critical Illness and Disability Rider

      Additional protection against upto 64 critical illnesses depending on the rider variant you select

      Total and Permanent Disability Cover on the occurrence of disability arising from sickness or injury

      Wellness benefit to avail a discount on annualised renewal premiums as per healthy weeks you accumulate

      Know more
    • Max Life Waiver of Premium Plus Rider

      Waiver of all future premiums in case of the covered dismemberment so that you can live worry-free

      Future premiums waiver in case you suffer from critical illnesses as specified in the rider terms

      Continued benefits of the base policy to give you peace of mind about maintaining various life expenses

      Know more

    Frequently Asked Questions

    search

    Like most term insurance policies, you can purchase 1.5 cr term insurance if you are 18 years old. The maximum age limit on the policy is 65 years.

    The premium rate for 1.5 crore term insurance plan is determined by a number of personal characteristics, including age at the time of purchase, health status, smoking habits, gender, income range, and so on.

    By entering basic information about yourself, such as your age, income range, and smoking habits, you may estimate the premium rates for your 1.5 cr term insurance using the term plan calculator on our website.

    Once you understand how the insurance works, you can use the term plan calculator on the Max Life Insurance website to get an estimate of the premiums and complete the purchase by supplying the required information.

    You can purchase the 1.5 crore term insurance plan if you are 18 years of age.

    The main advantage of purchasing 1.5 cr term insurance when you're young is that you can receive life insurance at significantly lower prices. Aside from that, having life insurance allows you to organize your finances in terms of other assets and savings.

    One of the advantages of buying 1.5 crore term insurance in India is that you obtain a large life insurance policy at a low premium rate. This means that your loved ones can be financially self-sufficient even in bad times, and that key life goals like a child's higher education will not be jeopardized.

    You can add critical illness and disability rider, accident cover*, waiver of premium plus rider# to your 1.5 crore term insurance plan with Max Life Insurance.

    If you have opted to get the premiums back at the end of the policy period, you get a maturity benefit in case of survival.

    ARN NO: PCP/1.5CTI/200223

    Disclaimers:

    1)*On payment of additional premium

    2)**On payment of additional premium. Upon policyholder’s selection of Return of Premium variant, this product shall be a Non-Linked & Non participating Individual Life Insurance Saving Plan

    3)# Applicable riders available on the payment of Additional Premium are Max life Critical Illness & Disability Rider | Non-Linked Non Participating Individual Pure Risk Premium Health Insurance Rider| UIN 104b033V01 and Max Life Waiver of Premium Plus Rider| A Non-Linked Non Participating Individual Pure Risk Premium Health Insurance Rider| UIN 104B029V03

    4)##Available at an additional premium for policies with Policy Term greater than 30 years & premium payment term greater than 21 years. Option to skip paying premium for 12 months, 2 premium breaks will be available during the Premium Payment Terms separated by interval of at least 10 years

    Customer Reviews

    Max Life Term Insurance Plan

    “Subodh Mishra helped me a lot in getting the money. He personally collected the documents and helped me at every step. I am extremely thankful to him and I would like to buy another Max lIfe policy in future”

    Subodh Mishra

    Max Life Term Insurance Plan

    “I already have a policy and buying this was a nice experience. This is according to my requirement. Completely satisfied with details shared by customer care executive before purchasing the policy.”

    Gaurang Kumar Pawar

    Max Life Term Insurance Plan

    “I visited Amritsar branch after the demise of my son. My family was not left with a single penny and it was getting impossible to make the ends meet. Vinay Sharma gave me the right direction and helped me at every step to receive the claim amount and gave a source of income to my family. I thank him and bless him from the bottom of my heart.”

    Vinay Sharma

    Share your Valuable Feedback
    Rating Icon

    4.1

    Rated by 5016 customers

    Was the Information Helpful?

    Very Good

    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

    See how the latest budget on 1 February, 2020 impacts your tax calculation.

    Tax Calculator

    Term Insurance Articles

    Term Insurance Comparison

    Term insurance provides your loved ones with the required financial security…

    Read More

    Top term insurance myths

    Having a conversation about death is very uncomfortable and unthinkable…

    Read More

    Is term insurance an investment or an expense ?

    Term insurance covers natural, accidental death, or death due to some illness…

    Read More
    More Resourceful Articles
    StickyImage

    Get ₹1.5 crore Life Cover @ just ₹1045**/month

    img
    99.34% Claim paid ratio^
    img
    Terminal Illness Coverage at zero additional cost
    Online Sales Helpline
    • 0124 648 8900(09:00 AM to 09:00 PM Monday to Saturday)
    • service.helpdesk@maxlifeinsurance.comEmail
    • SMS ‘LIFE’ to 5616188Message
    • Let us call you back
    Customer Service
    • 1860 120 5577(9:00 AM to 6:00 PM Monday to Saturday)
    • Chat with us
    • Write to usPlease write to us incase of any escalation/feedback/queries.
    NRI Helpdesk
    • 011-71025900, 011-61329950(9:00 AM to 6:00 PM Monday to Saturday)
    • nri.helpdesk@maxlifeinsurance.comPlease write to us incase of any escalation/feedback/queries.

    Popular Searches

    Best Term InsuranceTerm Insurance Premium CalculatorOnline Term Insurance PolicySmart Term PlanCritical Illness PolicyTerm Insurance with Return of PremiumULIP Saving PlanWhy Should Consider Claim Settlement RatioTax Benefits of Term InsuranceTerm Insurance FeaturesWhat is term InsuranceTerm Insurance vs Whole Life InsuranceBest Life Insurance PolicyInsurance Calculators IndiaOnline Insurance PlanChild Insurance PolicyRetirement SchemeBest Saving PlansGroup InsuranceHealth Insurance PolicyBest Investment PlanBest Ulip Plan in IndiaTax SavingIncome Tax CalculatorULIP CalculatorCancer Insurance PolicyBecome an agentDisability Insurance2 Crore Term Insurance5 Crore Term InsuranceFD Return CalculatorCredit ReportWhat is Systematic Investment PlanLump Sum SIP CalculatorEndowment InsurancePersonal Accident InsuranceCompound calculatorGold Investment In IndiaGold RateROI Calculator50 lakh term insurance75 lakh term insuranceFixed Deposit OnlineRecurring Deposit OnlineTerm Insurance for Housewife
    • Online Term Plan
    • Critical Illness
    • Smart Term Plan
    • Term Plan with Return of Premium
    • Claim Settlement Ratio
    • Smart Secure Plus Plan
    • Continue with existing eQuote
    • Term Insurance for Housewife
    • Online Insurance Plans
    • Child Insurance Plans
    • Retirement Plans
    • Group Insurance Plans
    • Health Insurance Plans
    • Cancer Insurance Plan
    • NRI Plans
    • ULIP Plans
    • Tax Saving Investment
    • Smart Wealth Plan
    • Assured Wealth Plan
    • Smart Wealth Income Plan
    • Flexi Wealth Advantage Plan
    • Savings & Income Plans
    • Smart Fixed-return Digital Plan
    • Money Back Policy
      • Pay Premium Online
      • Premium Payment Options
      • Download Premium Receipts
      • Track Applications
      • Claims Centers
      • Download Policy Pack
      • View Policy Details
      • Electronics Insurance Account
      • Frequently Asked Questions(FAQs)
      • Existing Customer Journey
      • Contact Us
      • Update Personal Details
      • Change Nominee
      • Download Forms
      • Update PAN Card
      • Service TATs
      • Auto Debit Deactivation
      • Certificate of Insurance
      • Why Max Life
      • Know Our Story
      • Awards & Achievement
      • CSR
      • Our Leadership
      • Media Center
      • Careers
      • Public Disclosures
      • ISNP Details
      • All About Claims
      • Become An Agent
      • NAV Performance
      • Monthly Factsheets
      • Fund Portfolio
      • NAV Performance & Benchmark
      • Monthly Fund Snapshot
      • Annual Investment Report
      • Investors
      • IRDAI Consumer Education Website
      • Agent Suspended & T.
      • Do Not Disturb
      • Insurance Ombudsman
      • Privacy Policy
      • Disclaimers
      • Service TATs
      • Grievance Redressal
      • Unclaimed Amount
      • Withdrawn Plans
      • Sitemap
      • UW Approach & Philosophy

      Group Sites

      • MAX INDIA
      • MAX SPECIALITY
      • MAX FINANCIAL SERVICES
      • ANTARA SENIOR LIVING

      BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS

      IRDAI clarifies to public that:
      • IRDAI is not involved in activities like selling insurance policies, announcing
      bonus or investment of premiums.

      • Public receiving such phone calls are requested to lodge a police complaint.

      IRDAI - Registration No. 104. ARN/Web/01/21042021 Category: Life. Validity: Valid.
      Corporate Identity Number (CIN):U74899PB2000PLC045626.
      Trade logo displayed belongs to Max Financial Services Ltd. and Axis Bank Ltd .respectively and with their consents, are used by Max Life Insurance Co. Ltd

      All Rights Reserved. An ISO 9001:2008 Certified Company.

      Max Life Insurance Company Limited is a Joint Venture between Max Financial Services Limited and Axis Bank Limited.

      Corporate Office :

       Max Life Insurance Co. Ltd. 11th Floor, DLF Square Building, Jacaranda Marg, DLF City Phase II, Gurugram (Haryana) - 122002.

      Operation Center :

       Max Life Insurance Co. Ltd, Plot No. 90-C UdyogVihar, Sector 18, Gurugram (Haryana) - 122015.

      Customer Helpline: 1860 120 5577 (9:00 A.M to 6:00 P.M Monday to Saturday) * Call charges apply.

      Online Helpline - 0124 648 8900 (09:00 AM to 09:00 PM Monday to Saturday).

      Fax Number:0124-4159397.

      Email ids: service.helpdesk@maxlifeinsurance.com

      Website: www.maxlifeinsurance.com

      Max Life Insurance is integrated with licensed NBFC FinVu(Cookiejar Technologies Pvt. Ltd. for sharing policy details with regulated Financial Information Users within the Account Aggregator ecosystem after obtaining the Policy holder's consent. Read more about Account Aggregator framework here.

      *Life insurance coverage is available in this product. For more details on risk factors, Terms and Conditions please read the prospectus carefully before concluding a sale. You may be entitled to certain applicable tax benefits on your premiums and policy benefits. Please note all the tax benefits are subject to tax laws prevailing at the time of payment of premium or receipt of benefits by you. Tax benefits are subject to changes in tax laws. Trade logo displayed belongs to Max Financial Services Ltd. and Axis Bank Ltd. respectively and with their consents, are used by Max Life Insurance Co.

      Insurance is the subject matter of solicitation. For more details on the risk factors, Terms and Conditions, please read the sales and rider prospectus carefully before concluding a sale. Tax benefits are eligible for tax exemption on fulfilling conditions mentioned under Section 10(10D) of income tax act 1961. Tax exemptions are as per our understanding of law and as per prevailing provisions of income tax at 1961 . Policy holders are advised to consult tax expert for better clarification /interpretation. Please note that all the tax benefits are subject to tax laws at the time of payment of premium or receipt of policy benefits by you. Tax benefits are subject to changes in tax laws. The monthly Income Benefit and Terminal Benefit may be taxable subject to extra premium being loaded at underwriting stage.

      Disclaimers for Market Linked Plans & Saving plans:

       

      THE UNIT LINKED INSURANCE PRODUCTS DO NOT OFFER ANY LIQUIDITY DURING THE FIRST FIVE YEARS OF THE CONTRACT. THE POLICYHOLDER WILL NOT BE ABLE TO SURRENDER/WITHDRAW THE MONIES INVESTED IN LINKED INSURANCE PRODUCTS COMPLETELY OR PARTIALLY TILL THE END OF FIFTH YEAR.

      Unit Linked Insurance Products (ULIPs) are different from the traditional insurance products and are subject to the risk factors. The premium paid in the Unit Linked Life Insurance Policies is subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions. Max Life Insurance is only the name of the insurance company and Max Life Online Savings Plan (UIN: 104L098V05) is only the name of the unit linked life insurance contract and does not in any way indicate the quality of the contract, its future prospects or returns. Please know the associated risks and the applicable charges from your Insurance agent or the Intermediary or policy document of the insurer. The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these funds, their future prospects or returns.

      Max Life Online Savings Plan is a Unit Linked Non Participating Individual Life Insurance Plan (UIN104L098V05)

      *#Some benefits are guaranteed and some benefits are variable with returns based on the future performance of your Insurer carrying on life insurance business. The assumed rates of return (4% p.a. and 8% p.a.) shown in the illustrative example are not guaranteed and they are not the upper or lower limits of what you might get back as the value of your Policy depends on a number of factors including future investment performance. The guaranteed and non-guaranteed benefits are applicable only if all due premiums are paid.The Maturity Benefit shown in the illustrative example are inclusive/exclusive of taxes.

      ^*Disclaimer: Applicable for Titanium variant of Max Life Smart Fixed-return Digital (Premium payment of 5 years, Policy term of 10 years) and a healthy female of 18 years old paying Rs.3,60,000/- annually (exclusive of all applicable taxes)

       

      Privacy Policy

      ^^On completion of policy term

      The savings indicated is the maximum premium difference as compared with offline plan & depends on the variant purchased.

      ^*All claims that qualify for InstaClaim™ will be paid within 1 working day from date of submission of all mandatory documents else Max Life will pay interest at Bank Rate as on beginning of financial year in which claim has been received (4.65 % p.a. for FY’20) for every day of delay beyond one working day. Interest shall be at the bank rate that is prevalent at beginning of the financial year in which death claim has been received.

      Claims for policies completed 3 continuous years. All mandatory documents should be submitted before 3:00pm on a working day.Claim amount on all eligible policies4 is less than Rs. 1 Crore. Claim does not warrant any field verification.Mandatory Documents :> Original policy document > Original/attested copy of death certificate issued by local municipal authority > Death claim application form (Form A) > NEFT mandate form attested by bank authorities along with a cancelled cheque or bank account passbook along with nominees photo identity proof > Discharge/Death summary attested by hospital authorities or FIR & Post Mortem Report/viscera report (in case of accidental death)

      7CMO Asia BFSI Excellence Award 2019

       

      5Criteria applicable only for “Term plans” for Graduate, Indian resident with declared income >= 10 lacs with CIBIL score >= 650 (salaried) and >= 700 (self-employed) with no disclosed medical condition

      4InstaClaim TM is available for all versions of (UIN:104N118V05). Mandatory Documents : • Original policy document • Original/attested copy of death certificate issued by local municipal authority • Death claim application form (Form A) • NEFT mandate form attested by bank authorities along with a cancelled cheque or bank account passbook along with nominees photo identity proof • Discharge/Death summary attested by hospital authorities or FIR & Post Mortem Report/viscera report (in case of accidental death)

      ##

      Tax conditions :

      Save 46,800 on taxes if the insurance premium amount is Rs.1.5 lakh per annum and you are a Regular Individual, Fall under 30% income tax slab having taxable income less than Rs. 50 lakh and Opt for Old tax regime ~# Save 54,600 on taxes if the insurance premium amount is Rs.1.5 lakh per annum for life cover and 25,000 for critical illness cover and you are a Regular Individual, Fall under 30% income tax slab having taxable income less than Rs. 50 lakh and Opt for Old tax regime.

      3The discount is applicable if you are a salaried employee with a corporate. During policy issuance, Max Life may call for proof of employment if required. In case proposer when asked is not able to prove the employment part, discount offer will be discontinued and additional premium as applicable will have to be paid for processing of the case.

      CI Rider disclaimers:

      MAX LIFE CRITICAL ILLNESS AND DISABILITY RIDER (UIN- 104B033V01) available as a rider on payment of additional premium.

      >Extended cover of up to 85 years is available with gold and platinum variant only

      @ 64 critical illnesses covered in platinum and platinum plus variant on payment

      22 critical illnesses covered in gold and gold plus variant

      6 The life insurer is eligible for a discount on renewal premium under regular pay variant by accumulating Healthy Weeks as per terms and conditions of the rider

      *^Total premiums paid inclusive of any extra premium but exclusive of all applicable taxes, cesses or levies and modal extra. Return of premium option is available on payment of additional premium.

       ~ Conditions for premium break : Available at an additional premium for policies with policy term greater than 30 years and premium payment term greater than 21 years. Option to skip paying premium for 12 months. 2 premium breaks will be available during the premium payment term separated by an interval of at least 10 years

      ~1 Conditions for Special exit value:

      Option to receive all premiums paid back, at a specified point in the term of the policy (free of cost). Available when Return of Premium variant is not chosen. No additional premium to be paid.

      ~2 Voluntary Top-up Sum assured:

      Option to double your insurance cover, basis underwriting, at the time of your need by increasing your sum assured up to an additional 100% of base sum assured, chosen at inception

      ^^*^^Free look period conditions:

      The policyholder has a period of 30 days from the date of receipt of the policy document, to review the terms and conditions of the Policy, where if the policyholder disagrees to any of those terms or conditions, he / she has the option to return the Policy stating the reasons for his objections. The policyholder shall be entitled to a refund of the premiums paid, subject only to deduction of a proportionate risk premium for the period of cover and the expenses incurred by the company on medical examination of the lives insured and stamp duty charges.

      ^Individual Death Claims Paid Ratio as per IRDAI Annual Report FY 2021-2022

      8https://www.moneycontrol.com/news/business/economy/buy-term-insurance-now-as-rates-may-rise-from-april-1-4930921.html

      2Total premium will be charged at the time of the policy issuance (subject to underwriting’s decision).

      3The guaranteed benefits are available with selected life insurance plans & are applicable if all due premiums are paid

      4Tax benefits as per prevailing tax laws, subject to change

      Terms and conditions for availing 5% employee discount:

      <Due to system constraints, employee is requested to select 5 Lakh and above income which can be changed to actual amount on the information page.

      1 The 5% employee discount will be refunded to you once your policy is issued. Submit your documents for getting your policy issued and get 5% employee discount

      9

      The percentage savings is for a regular pay Max Life Smart Secure Plus Plan ( A Non Linked Non Participating Individual Pure Risk Premium Life Insurance Plan, UIN - 104N118V05)– Life Option for 1 cr life cover for a 35 year old, non-smoker male for a policy term of 40 years vs a 10 year policy term with the same details’

      ~*Standard premium for 24-year old healthy male, non-smoker, 25 years policy term,25 year premium payment term (exclusive of GST) for Max Life Smart Secure Plus Plan (UIN:104N118V05)

      **Healthy non-smoking male, 24 years, 2 cr cover,25 years policy term,25 year premium payment term, exclusive pf GST for Max Life Smart Secure Plus Plan (UIN:104N118V05)

      ~~Healthy non-smoking male, 24 years, 1 cr cover,25 years policy term,25 year premium payment term, exclusive pf GST for Max Life Smart Secure Plus Plan (UIN:104N118V05)

      Max Life Smart Wealth Plan| A Non-Linked, Non-Participating, Individual Life Insurance Savings Plan| @Rs.9,68,800/- as lump sum at the end of 15 years, for 35 years old healthy male.

      ARN - ARN/Web/01/21042021

      Past performance of the investment funds do not indicate the future performance of the same. Investors in the Scheme are not being offered any guaranteed / assured returns.The premiums & funds are subject to certain charges related to the fund or to the premium paid.

      The premium shall be adjusted on the due date even if it has been received in advance.

      For Total Installment Premium -**Total Installment Premium is the Premium payable as per premium paying frequency chosen, it excludes GST and applicable taxes, cesses or levies, if any; and includes loadings for modal premiums, Underwriting Extra Premium and Rider Premiums if any.

      For Return of Premium -~The Return of Premium Option is available on payment of Additional Premium. Premium does not include amount paid for riders and is excluding taxes, cesses and levies. Upon Policyholder's selection of Return of Premium variant this product shall be a Non-Linked Non-Participating Individual Life Insurance Savings Plan.

      For Riders -#Applicable Rider available on the payment of Additional Premium is Max Life Critical Illness and Disability Rider | Non-Linked Non-Participating Individual Pure Risk Premium Health Insurance Rider |UIN: 104B033V01 . Critical Illness and Disability Rider variant opted is Platinum Plus which covers 64 critical Illnesses. The rider cover will only be paid in scenarios where customer is diagnosed with listed 64 critical illnesses or total and permanent disability. Rider will terminate after major critical illness claim is paid to the policyholder. In case customer requests for cancellation of rider only, the solution as a whole will be cancelled and not just the individual rider.

      For Additional Benefits -##On Payment of Additional Premium. The accident cover will only be paid in scenarios where death occurs due to accident.

      *~Disclaimer | Max Life Smart Secure Plus Plan. A non-linked non-participating individual pure risk premium life insurance plan |Benefit available with special exit value -Total premium paid inclusive of any extra premium but exclusive of all applicable taxes, cesses or levies & modal extra. The premium calculated as per Standard premium for 30 year old healthy male, non-smoker, 40 years policy term, 40 years premium payment term (exclusive of GST) for Max Life Smart Secure Plus Plan.

      6

      Applicable for Titanium variant of Max Life Smart Fixed-return Digital plan (Premium payment of 5 years and Policy term of 10 years) and a healthy male of 18 years paying Rs. 20,000/- per month (exclusive of all applicable taxes) with 7.50% return. Life Insurance is available with this product.

      ##

      Policy continuance benefit is not available with lifelong wealth variant. **The accrued income will be accumulated on an annual basis at the prevailing reverse repo rate (publish on RBI’s website).

      #

      With “Save the date”, you can choose to take your annual income to any special date in a year.

      ***Available with early wealth variant. Income benefit will be paid as per selected plan terms.

      ~

      Accidental death benefit is available in call variants except for Single premium variant. Life insurance coverage is available in this product.

      #~

      Term Insurance plan bought online directly from Max Life Insurance has no commissions involved.

      ~1

      Max Life Smart Secure Plus Plan, A non-linked non-participating Individual Pure Risk Premium Life Insurance Plan| Standard Premium for 30 year old healthy male, non-smoker, 40 years policy term, 40 year premium payment term (exclusive of GST) for Max Life Smart Secure Plus Plan| ~1 Conditions for special exit value: Option to receive all premiums paid back, at a specified point in the term of the policy (free of cost). Available when Return of premium variant is not chosen. No additional premium to be paid. Option to receive all premiums back (exclusive of GST). Flexibility of exiting the plan early. Special Exit Value cover applicable till age 68 & above (of your age). T&C Apply.

      6

      Applicable for Titanium variant of Max Life Smart Fixed-return Digital plan (Premium payment of 5 years and Policy term of 10 years) and a healthy male of 18 years paying Rs. 20,000/- per month (exclusive of all applicable taxes) with 7.50% return. Life Insurance is available with this product.

      **

      Max Life Critical illness and Disability (UIN- 104B033V01) available as a rider on payment of additional premium. 64 critical illnesses covered in platinum and platinum plus variant on payment.

      *

      Available on Payment of Additional Premium. The accident cover will only be paid in scenarios where death occurs due to accident.

      7

      Available with Max Life Smart Wealth Plan (UIN: 104N116V08)

      8

      Available with Max Life Smart Fixed-return Digital Plan (UIN:104N123V03). The guaranteed benefits are available with selected life insurance plans & are applicable if all due premiums are paid.

      **Disclaimer: Standard premium for 24-year old healthy male, non-smoker, 25 years policy term,25 year premium payment term (exclusive of GST) for Max Life Smart Secure Plus Plan (UIN:104N118V05) with a life cover of Rs. 50 lakh.

      **Disclaimer: Standard premium for 24-year old healthy male, non-smoker, 25 years policy term,25 year premium payment term (exclusive of GST) for Max Life Smart Secure Plus Plan (UIN:104N118V05) with a life cover of Rs. 75 lakh.

      **Disclaimer: Standard premium for 24-year old healthy male, non-smoker, 25 years policy term,25 year premium payment term (exclusive of GST) for Max Life Smart Secure Plus Plan (UIN:104N118V05) with a life cover of Rs. 1.5 Cr.

      **Disclaimer: Standard premium for 24-year old healthy male, non-smoker, 25 years policy term,25 year premium payment term (exclusive of GST) for Max Life Smart Secure Plus Plan (UIN:104N118V05) with a life cover of Rs. 2 Cr.

      **Disclaimer: Standard premium for 24-year old healthy male, non-smoker, 25 years policy term,25 year premium payment term (exclusive of GST) for Max Life Smart Secure Plus Plan (UIN:104N118V05) with a life cover of Rs. 5 Cr.

      **Our Life insurance policies cover COVID-19 life claims under life insurance claims, are subject to applicable terms and conditions of the policy contract and extant regulatory framework.