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    1 Crore Term Insurance Plan

    "You cannot put a price on your life, however, you can make sure your family doesn’t ever have to live a life of financial difficulties after you. 1 crore term insurance plan is a financial solution that allows you to be there for them even in your absence."...Read More

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    Free of Cost Term Plan

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    ₹ 1 Crore Term Plan

    Starting @Rs 1046/m
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    ₹ 2 Crore Term Plan

    Upto 20% Lower Premiums~3
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    1 Cr Life Cover + 1 Cr on Maturity

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    Written by

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    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

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    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.

    What is 1 crore Term Insurance Plan?

    Term insurance policies are becoming increasingly popular, and 1 crore term insurance plan is becoming a common choice among policy buyers. A 1 crore term insurance plan means that the term plan provides a sum assured of Rs. 1 crore which is paid as a death benefit to the policyholder's family/beneficiary in the event of the policyholder's death.

    Having an 8-figure sum set aside for contingencies, in essence, can put your mind at peace and provide a substantial financial backup for your loved ones. The premium rates for 1 crore term insurance plan is affordable, which makes it a favorable choice among policy buyers.

    Why You Need 1 crore Term Insurance Plan

    In the backdrop of uncertainty of life, people are increasingly turning to insurance, particularly term insurance, to provide ultimate safety for their families in today's society.

    In these times of rising prices, one must ensure that his/her family has the resources to live comfortably. Hence, you may find that finding the best term insurance plan for 1 crore can be a valuable investment in terms of your family’s future. Let’s understand how it works!

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    Coverage against 64 critical illnesses@

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    Why Buy 1 Crore Term Insurance Plan?

    There are multiple reasons why you must consider a 1 crore term insurance plan. Let’s look at some of these:

    Higher Coverage at Lower Premiums

    You can get a cover of Rs. 1 crore at nominal premium rates if you buy it at an early life stage.

    Security Against Financial Liabilities

    Such a considerable amount of sum assured helps you provide for your family appropriately when you are not around. They can pay outstanding loans, education fees, and other living expenses without worrying.

    Frees Up Earnings for Investments

    When you get a 1 crore term insurance plan at, say, 30 years of age, it gives you a long-lasting cover at minimal premium rates. Hence, you can plan your investments and savings more efficiently for wealth-creation purposes and park your money in relevant financial instruments.

    Comprehensive Coverage

    You can also add multiple riders like critical illness benefit, waiver of premium benefit#, accidental death benefit, etc. at an additional premium to your 1 crore term insurance plan and get enhanced coverage

    How Does 1 Crore Term Insurance Plan Work?

    oneCroreTermInsurancePlan

    Insurance is not a new concept in India. It is what gives individuals peace of mind in the present and future. Various financial obligations, such as children's schooling, purchasing a new home, children's marriage, and so on, can be taken care of with a substantial death benefit offered by the term insurance plan for 1 crore.

    Let’s go over the basics of a term plan to understand how a 1 crore term insurance plan works:

    • A term plan is a form of life insurance policy that lasts for a set period. When you purchase a term plan, you will be covered for a pre-determined length of time or ‘term.’
    • If the insured person dies within the stated term, the life insurance policy's nominee is eligible to receive a death benefit from the insurance provider equal to the sum assured. For example, if you are covered with a term insurance plan of 1 crore sum assured, the insurance provider is obligated to pay that sum to the term plan's nominee if the insured person dies, according to the policy contract's terms and conditions.
    • A term plan can be the most cost-effective option to protect your family's future, especially if you have a young family. Even if you buy one of the best term insurance plan for 1 crore cover amount, the premiums will not be a burden if the policy term is a considerable period.
    • Throughout the life of your insurance, your premium is fixed and does not change. You are covered as long as you pay your premiums on time.

    A term insurance policy serves the purpose of giving a death benefit to the insured’s family, assuring financial security in the event of the insured's death within the policy's term. A Rs. 1 Crore term insurance plan is a policy that provides the nominee with 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, enabling them to meet their financial needs and goals.

    How to Determine the Right Coverage Amount ?

    Buying one of the best term insurance for 1 crore is a common choice among policy buyers as it gives you substantial coverage to their families. It fulfils the primary objective of ensuring that your family is financially secure in the event of your untimely death. However, what constitutes adequate coverage is a valid topic to pose here.

    Let’s look at how you can determine if 1 crore term insurance plan is suitable for you:

    1. Your Age & Income

    Your age and income source will affect not only how much insurance you must get but also how long you should keep it. Although age is a factor to consider when determining the amount of coverage you need, it is not an excuse to put off acquiring a policy. Since older people are more difficult to insure, life insurance premium rates may be higher. On the other hand, you can get a lower premium for the term insurance plan for 1 crore if you buy a policy when you're young and healthy.

    2. Purpose of Buying Insurance

    If you have a policy that accumulates cash value, you can also think of life insurance as an investment. Cash value policies are frequently used as a different way to save or invest for retirement. This can help policy buyers find the cheapest term insurance as well as contribute to wealth accumulation. You can also choose term insurance or an endowment plan to expand your investment portfolio further.

    3. Dependants’ Needs

    The costs of raising a child or caring for an elderly parent are rising every year. If you have any dependents, you may want to consider purchasing one of the best term insurance plan for 1 crore, which can be adequate to meet their needs in your absence.

    4. Liabilities

    Student loans, car loans, credit cards, and personal loans are all examples of debts that can be paid off using life insurance. If you have any of these debts, your policy must provide you with enough coverage to pay them off completely. Hence, you may want to consider the best term insurance plans for 1 crore to get extensive coverage.

    Is it Better to Opt for Higher Coverage?

    HigherCoverage

    The amount of life insurance you require is determined by your personal and financial circumstances and it should cover your dependents as well as your regular living expenses.

    According to most insurance firms, an acceptable amount of life insurance is six to ten times the annual earnings.

    Multiplying your annual pay by the number of years before retirement is another way to figure out how much life insurance you will need. Apart from this, you can figure out how much life insurance you require by adding up your debts and subtracting your liquid assets.

    A Rs 1 crore term plan is the finest approach to protect your family against unforeseeable future calamities due to its cost, accessibility, and high coverage. It can be one of the cheapest term insurance plans available, which is accessible both online and offline.

    Here are some of the benefits of choosing one of the best term insurance plan for 1 crore:

    1. Cost-Effective Option

    Term insurance policies are one of the most affordable types of life insurance available. Since it is purely a life insurance policy, the premiums are quite low. Whether you buy a term insurance plan for 50 lakhs or a 1 crore term insurance plan, you can get significant coverage at affordable rates.

    2. Steady Premiums

    Term insurance policies have a consistent premium throughout the policy's term. Regardless of whether your coverage is for 10, 20, or 30 years, the premium will remain the same during the policy term. So, if you choose one of the best term insurance plan for 1 crore early in life, you can enjoy long-term, steady and affordable premium rates.

    3. Comprehensive Cover

    If you are willing to pay higher premiums as you become older, many insurance companies will allow you to upgrade your coverage at key points in your life. For example, if you have a basic Rs 1 crore term insurance plan, you can choose to enhance your sum insured by paying slightly higher premiums when you get married or have a child.

    4. Riders

    You can choose to supplement your term plan with add-ons such as a critical illness benefit*, in addition to the Rs 1 crore term insurance plan. Depending on the policy, you can get a variety of other riders to attach to the term insurance plan for 1 crore.
    Term Insurance Benefits Explained.jpg

    Other sum assured options for Term Insurance

    Along with the option of 1 crore sum assured we also provide other sum assured options. Below mentioned are a few and you can choose as per your need. You can also know more about the steps of choosing the right sum assured.

    Term Insurance

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    ₹ 50 Lakhs

    Starting from ₹ 15/ day*

    Check Plan

    Term Insurance

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    ₹ 75 Lakhs

    Starting from ₹ 22/ day*

    Check Plan
    BESTSELLER

    BESTSELLER

    Term Insurance

    sum-assured-right-arrow.svg

    ₹ 1 Crore

    Starting from ₹ 23/ day*

    Check Plan

    Term Insurance

    sum-assured-right-arrow.svg

    ₹ 1.5 Crore

    Starting from ₹ 35/ day*

    Check Plan

    Term Insurance

    sum-assured-right-arrow.svg

    ₹ 2 Crore

    Starting from ₹ 35/ day*

    Check Plan

    Term Insurance

    sum-assured-right-arrow.svg

    ₹ 5 Crore

    Starting from ₹ 83/ day*

    Check Plan

     Disclaimer: Standard daily 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:104N118V06).

    ARN NO: C/SA/050623

    Factors to Check Before Buying a 1 Crore Term Insurance Plan

    Buying a 1 crore term insurance plan is a big decision as it provides financial protection to your loved ones in case of any unforeseen event. Before buying a term insurance plan of this magnitude, it is important to consider the following factors:

    1. Claim Settlement Ratio

    Claim settlement ratio plays an important role when you plan to avail 1 crore term insurance policy. It refers to the number of claims settled by the insurer as compared to the number of claims filed by customer in the financial year. Max Life Insurance has consistently performed well, justified its promise of protection and claim settlement on-time. The claim settlement ratio of Max Life Insurance was 99.51%^ in FY 2022-23.

    2. Solvency Ratio

    Always look for insurance provider that has high solvency ratio. High solvency ratio refers to the financial capacity of the insurance provider to pay out the claims. It is suggested that individuals must do thorough research about the insurance company’s financial status to check whether they have ability to settle the claims or not.

    3. Critical Illness Benefit

    The critical illness benefit option enhances the coverage of your 1 crore term insurance plan. Critical illness cover can be availed if you want to supplement your term insurance plan by paying a small premium along with your base plan. Through availing rider such as critical illness benefit, you can take benefit of additional coverage along with your basic term insurance plan.

    4. Premium Amount

    Choose a plan with a premium amount that fits within your budget. It's important to remember that term insurance plans with higher coverage typically have a higher premium.

    By considering these factors, you can make an informed decision when buying a 1 crore term insurance plan that provides adequate financial protection to your loved ones.

    Who Should Opt for Term Insurance Cover of 1 crore?

    whoShouldOptForOneCrorePlan

    There is no strict rule for buying a term insurance plan for 1 crore cover. However, if you find yourself in the following categories of people, you may want to consider it:

    • Ideally, a suitable term insurance plan for 1 crore can be purchased early in your career, when you are still young, healthy, and unburdened. Working professionals in their late twenties or early thirties (25-35 years old) can invest in a 1 crore term insurance plan to benefit from cheap premium rates that are fixed throughout the policy's duration.
    • Individuals who are the sole breadwinners in their families can invest in at least one 1 crore term plan to ensure that their families are adequately protected in the event of their death. They can also consider whether a one-crore-term policy is the best option or if they require further coverage.
    • Since the policy term of 1 crore term insurance plan can spread through several years of your life, these may be suited for those aged 25 to 35.
    • These plans are ideal for those with an annual income of between 5 and 7 lakhs.
    • Additionally, if you are the sole breadwinner with multiple dependants, finding the term insurance plan for 1 crore can be a wise move.
    • In case you have outstanding debt repayments in the form of home loans, car loans, student loans, etc, buying the 1 crore term insurance plan as a safety net can be helpful. In the event of a disaster, the sum assured can be used to pay off an individual's loans, leaving the family debt-free.

    How To Select The Right Term Insurance Plan?

    Selecting a term plan depends on several personal factors. Naturally, the premium rate is a deciding factor for policy buyers and the premium rate is decided primarily according to the policy period which means the age at which you decide to purchase the term insurance. Other factors such as the riders you add to your plan also impact the premium rate.

    To make it easier for you to select the term insurance plan for 1 crore, we have compared the premium rates for different age brackets for base cover and for base cover and a rider of Max Life Smart Secure Plus Plan (A Non Linked Non Participating Individual Pure Risk Premium Life Insurance Plan| UIN: 104N118V06)

    The following figures are calculated according to: Gender (Male) + DOB + Non-Smoker + Annual Income (7-10 lakhs). Cover upto 75 Years, Regular Pay. Excluding 5% discount & excluding GST. Max Life Critical illness & Disability Rider# (Rider SI – Rs 5 lakhs, upto 75 years, platinum plus version)


    AgePremium for 1 crore Term Insurance (Monthly)Premium for 1 crore Term Insurance + 1Critical Illness & Disability Rider (Monthly)Premium for 1 Crore Term Insurance with Return of Premium Option (Monthly)1
    20Rs. 741Rs. 964NA (Maximum PT allowed is 50 years)
    30Rs. 1,145Rs. 1,488Rs 2,176
    40Rs. 2,065Rs. 2,647Rs 4,016
    50Rs. 4,096Rs. 5,032Rs 9,180
    60Rs. 8,209NA (Max. Entry age for CI is 55, internal check due to Medicals)Rs 2,238

    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 Platinum Plus Variant, valid up to the age of 60.1Critical Illness & Disability Rider (Non Linked Non Participating Individual Pure Risk Premium Health Insurance Rider| UIN: 104B033V01)| Return Of Premium Variant (Max Life Smart Secure Plus Plan – UIN: 104N113V06)1 Crore Term Insurance Plan | Max Life Insurance

    With Max Life’s 1 crore term insurance plan, you get a variety of benefits that are specifically created to suit the financial needs of today’s customers. The Max Life Smart Secure Plus Plan (Non Linked Non Participating Individual Pure Risk Premium Life Insurance Plan (UIN: 104N118V06) comes with two variants for the death benefit with choices for the premium payment term. Apart from this, some unique benefits of this plan include:

    • In-Built Terminal Illness Benefit
    • Up to 1 crore pay-out on the diagnosis of Terminal Illness
    • In-Built Special Exit Value
    • Surrender offering whereby the customer has the option to receive all premiums paid back at one specified point in the term of the policy.
    • Premium Break Option##
    • One-of-a-kind feature that allows policyholders to skip paying premiums twice in the policy term.
    • Joint Life Cover*
    • Option to add a spouse to the coverage.

    The Smart Secure Plus Plan by Max Life Insurance can be an excellent financial instrument for you to achieve maximum financial security for yourself and your loved ones. If you have dependant family members, it is in your best interest to start planning as early as possible in life.

    Online Insurance Plans of Max Life Insurance

    • Max Life Smart Secure Plus Plan

      In case of your demise during policy term, your family will receive a comprehensive death benefit for your family

      To assist you achieve your life goals, there are guaranteed maturity advantages, income benefits, and guaranteed additions

      Lump sum, short-term, long-term, and whole-life income options with distinctive benefits are available

      Know more
    • Max Life Smart Term Plan

      Financial protection against serious illnesses such as kidney failure, cancer, and heart attacks

      Flexibility to select the best premium payment alternatives based on your income and budget

      Having life insurance and the possibility to have the payments repaid as a survival benefit

      Know more
    • Max Life Online Savings Plan

      Comprehensive death benefit throughout the duration of the insurance, together with money saving for different life goals

      For policyholders, monthly payments, earned bonuses, and customisable fund choices are available with no additional fees

      The freedom to select an insurance term of up to 85 years, a term for paying the premiums, and payouts that meet your demands

      Know more
    • Max Life Cancer Insurance Plan

      A comprehensive cancer insurance policy that pays out at all stages of the disease

      If there are no claims for the first five years, receive a 10% increase in the initial sum insured

      20% of the Sum Insured: Early-Stage Diagnosis Premium Waiver

      Annual income for five years in main stage diagnosis with lump sum payout

      Tax benefit under section 80D, 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 - lump sum, 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 that 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 up to 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

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    Like most term insurance policies, you can purchase the term insurance plan for 1 crore if you are 18 years old. The maximum age limit on the policy is 65 years.

    Ideally, you can consider buying the term insurance plan for 1 crore at a younger age. This way you will have a longer duration of the policy, meaning cheaper premium rates.

    Finding the cheapest term insurance plan depends on your financial requirements. You can compare different term insurance policies on the basis of the benefits offered, premium rates and policy term to find the best term insurance plan for 1 crore.

    Endowment plans have the added benefit of providing the sum assured as a maturity benefit if the policyholder lives longer than the policy term. Term plans, on the other hand, are advantageous for people who desire more coverage for a lower cost, as well as financial protection for their family in the event they pass away. Hence, you can choose depending on your needs.

    The premium rate for 1 crore term insurance depends upon several personal factors such as age at the time of buying the plan, health condition, smoking habits, gender, income range, etc.

    You can use the term plan calculator on our website to estimate the premium rates for your 1 crore term insurance plan by putting in basic information about yourself such as age, income range and smoking habits.

    Once you have understood how the policy works, you can get an estimate of the premiums through the term plan calculator on Max Life Insurance website and continue the purchase by providing the necessary details.

    The minimum entry age for 1 crore term insurance plan is 18 years.

    The primary benefit of buying term insurance at an early age is that you can get life cover at much lower rates. Apart from this, it also helps you financially plan your life in terms of other investments and savings since you have life security.
    The foremost benefit of buying 1 crore term insurance in India is that you get a sizeable life cover at low premium rates. This means your loved ones can be financially independent even during difficult times and will not have to compromise on important life goals such as a child’s higher education.
    You can add critical illness and disability rider#, accident cover*, waiver of premium# plus rider to your 1 crore term insurance plan with Max Life Insurance.

    ARN NO: PCP/1CTIP/260623

    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

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    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:104N118V06). 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 Claim Paid Ratio as per audited financials for FY 2022-2023

    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 - 104N118V06)– 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:104N118V06)

    **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:104N118V06)

    ~~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:104N118V06)

    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. 30,000/- 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. 30,000/- 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:104N123V04). 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:104N118V06) 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:104N118V06) 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:104N118V06) 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:104N118V06) 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:104N118V06) 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.

     

    Disclaimer~*Standard premium for 24-year old healthy female,non-smoker, 25 years policy term, 25 year premium payment term (exclusive of GST) for Max Life Smart Secure Plus Plan (UIN:104N118V06)

    ~^Disclaimer: 5 year return (CAGR – Compound Annualised Growth Rate) from Max Life High Growth Fund (ULIF01311/02/08LIFEHIGHGR104) as on 31/05/2023| 2Nifty Midcap Free Float 100% (5-year return) | For more details on risk factors, terms and conditions and products offered.

    ^~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. The value of your policy depends on a number of factors including future investment performance. The amount shown is for a 30-year-old healthy male, with 10 years premium payment term, and 35 years policy term with Max Life Online Saving Plan (Unit Linked Non Participating Individual Life Insurance Plan | Life Insurance is available in this product).

    **Disclaimer | Max Life Smart Secure Plus Plan. A Non Linked Non Participating Individual Pure Risk Premium Life Insurance Plan. | **Standard Premium for 24 Year Old Healthy Female, Non-smoker, 25 Years Policy Term, 25 Year Premium Payment Term (exclusive of GST) for Max Life Smart Secure Plus Plan. | For Male, the Total premium to be paid in 25 years is Rs.2.09 lakhs (exclusive of GST). ~As compared to the similar modal points of Male, Female has to pay Rs.13,800 lesser premium than male for the entire policy term (exclusive of GST).

    ~3Disclaimer: A 35 year old female opting for a life cover of Rs. 1 Cr till the age of 75 years pays Rs. 3,319 monthly for 10 years while a 35 year old male will pay Rs. 4,168 monthly for 10 years

    7Disclaimer : Rs. 1,00,29,587 after 14 years at policy maturity on monthly investment of Rs. 16,600 for 12 years for 30 year old male with Max Life Smart Wealth Plan – Long Term Variant. A non-linked non-participating individual life insurance savings plan. The guaranteed benefits are applicable only if all due premiums are paid. Total premiums paid is exclusive of GST. Life Insurance is available in this product. ARN: WP/SWP/250723.

    Disclaimer: ~10 year CAGR of Nifty SmallCap 250 Quality50 index as on 24/07/2023. Max Life Nifty Smallcap Quality Index Fund is passively managed Index fund that tracks the Nifty SmallCap 250 Quality50 index (subject to tracking error).