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    50 Lakh Term Insurance Plan

    There is no price you can put on your life. However, you can make sure that you are adequately prepared for a future when you are no longer around to ensure your loved ones’ security and happiness. Buying 50 lakh term insurance gives you that peace of mind....Read More

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    ₹ 1 Crore Term Plan

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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.

    Introduction - 50 Lakh Term Insurance Plan

    Term insurance plans are economical and provide considerable coverage for a low cost. 50 lakh term insurance plans are insurance policies that allow 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 50 Lakh 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 50 lac term plan, your loved ones would receive this sum in case of your untimely demise.

    A death benefit will be paid to the beneficiary under a term insurance policy if an unforeseeable event occurs, such as the death of the life assured during the policy period. You can select a coverage quantity based on your existing lifestyle, expenses, and financial obligations, among other factors. With a Rs. 50 lakh term insurance plan, you may safeguard your family's financial security in the event of your death.

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    Family's Financial Planning Starts Here
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    Tax exemptionup to Rs. 54,600~#

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    High life cover at affordable premiums

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    Claim Paid Ratio^99.34%

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    Coverage against 64 critical illnesses@

    Term Plan Calculator

    Secure your future in just 5 minutes

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    Premium starting at
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    Why Buy 50 Lakh Term Insurance Plan?

    As the sole breadwinner of your family, it is crucial to have a sound financial plan to ensure your loved ones’ well-being. Buying 50 lakh term insurance can be a wise financial decision in the long run.

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    Here are some reasons you should consider the 50 lakh term insurance to get long-term financial security:

    Cost-Effective

    The term insurance premium for 50 lakhs is nominal, enabling you to protect the future of your loved ones comfortably. By paying minimum premiums, you can choose to stay insured under the policy for a longer length of time.

    Comprehensive Security

    In addition to the base cover of 50 lakh term insurance, you can choose to enhance your coverage with add-ons such as a critical illness benefit*, accidental death benefit*, waiver of premium benefit (Max Life Waiver Of Premium Plus Rider UIN: 104B029V04)#, etc.

    Higher Cover

    You can create a robust financial safety net for your loved ones with a 50 lac term insurance policy. It ensures that they will be able to maintain their quality of living and achieve their goals, even in the face of adversity.

    Security Against Loans & Liabilities

    In case of your untimely demise, your family can use the financial support from 50 lakh term insurance to pay off outstanding loans and liabilities.

    How Does 50 Lakh Term Insurance Work?

    A term insurance policy provides financial stability to a person's family if the insured passes away within the policy's term. A 50 lakh term insurance policy pays the named beneficiary the sum assured of the stated amount in the event of the insured's death. This plan serves as a financial guardian for the policyholder's family, aiding them in achieving their financial objectives.

    Let’s understand how it works:

    • A term insurance policy, as the name implies, is a type of life insurance that provides coverage for a certain length of time, or 'term.'
    • The beneficiary is entitled to a death benefit from the insurance company if the policyholder dies while the term plan is still active.
    • If you buy a 50 lakh term insurance plan, for example, the policy terms and conditions dictate that the entire sum assured will be paid to the nominee. A term plan may be the most cost-effective approach to protect your family's future if you have a young family. The term insurance premium for 50 lakhs is affordable and you can easily plan your family’s future at an early stage in life.
    • While the premium amount remains unchanged throughout the policy tenure, failure of payment of premiums will result in the termination of the term insurance 75 lakh policy.
    • In case the policyholder doesn’t die during the policy term, there will be no survival benefits unless they opt for a Return Of Premium Variant.

    How to Determine the Right Coverage Amount ?

    Evaluating the appropriate amount of coverage for your insurance policy is effectively calculating the value of your life, and it is certainly not a pleasant task. But, the goal of life insurance is to provide financial support to your family and dependents in the event that you face an untimely death. As a result, it's critical to respond to this question so that you can select the appropriate level of coverage.

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    If you're unsure whether 50 lakh term insurance is the right option for you, consider the following pointers:

    Age

    Since older people are more susceptible to sicknesses and health concerns, term insurance premiums are greater, thus it's advisable to acquire 50 lakh term insurance when you're younger. The term insurance premium for 50 lakhs will be nominal and help you ensure that your family is financially stable for a long time to come.

    Annual Income

    When getting term insurance, a general rule that helps in planning is that the plan's sum assured should be at least ten times your annual salary. If you decide to purchase 50 lakh term insurance, make sure it is suited for your family according to your annual income. You can utilise Max Life's term insurance calculator to make the process easier.

    Dependents & Their Needs

    If you have family members who are financially reliant on you, you must consider if you can include the term insurance premium for 50 lakhs in your financial plan so that they are adequately supported in unprecedented times. You must also evaluate the amount of family members who financially rely on you and their future demands, such as education, marriage, loans, and other expenses. Overall, you must ensure that all of your family members' financial needs are met, particularly those who are financially dependent on you.

    Existing Liabilities

    If you're purchasing 50 lac term plan, it's critical to consider any current liabilities. Whether it's a student loan, a home loan, or a car loan, you need to make sure that your term insurance policy will cover all of your commitments.


    Finding the right coverage amount is critical when you are purchasing a life insurance policy. As a policy buyer, you should carefully assess your needs and ability to pay the term insurance premium for 50 lakhs so you can get financial security without facing additional burdens.

    Quickly Choose the Right Sum Assured Option

    An important factor that you must consider choosing when purchasing the best term insurance plan for your family’s financial protection is the right sum assured. The following are some most popular sum assured options for you. You can click on any of the tabs given below to proceed and know more about sum assured amounts in details:

    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: C/SA/050623

    Benefits of 50 Lakh Term Insurance Plan

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    50 lakh term insurance comes with a slew of additional benefits in addition to full financial protection. Here are some of them:

    Affordable

    One of the most significant advantages of purchasing a 50 lac term plan is that it will not add to your financial burdens, as one might assume. The term insurance premium for 50 lakh is quite low because they are the purest form of life insurance.

    Payout Options

    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 50 lakh life insurance.

    Easy Customization

    Today, almost all insurance companies and providers offer add-on riders with 50 lakh term insurance. You can opt for riders such as accidental death benefit*, maturity/survival benefit, and return of premium**, enabling you to customize and personalize the term plan according to your preferences and requirements.

    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 50 lakh term insurance.

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

    Who Should opt for Term Insurance Cover of 50 Lakh?

    If you fall under any of the following categories, you can consider purchasing 50 lakh life insurance:

    • A person with a regular source of income and financial dependents can pay the term insurance premium for 50 lakhs without any additional financial burden.
    • Parents, professionals, married/unmarried persons, recently retired people, self-employed people, and other taxpayers might consider purchasing 50 lakh term insurance to provide a financially secure future for their loved ones.
    • A person who is young and has begun working for themselves is advised to invest in term insurance plans since they provide sizeable coverage at a low premium cost.
    • If you have any dependent family members, it is prudent to purchase 50 lakh term insurance policy, considering the inflation rates, rising education and healthcare costs. In order to determine the term insurance premium for 50 lakhs, you can make use of the term insurance premium calculator.
    • Individuals who are the family's sole breadwinner should look for a 50 lac term plan to ensure that their families are sufficiently insured in the event of their death.
    • 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 The Right 50 Lakh 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.

    The term insurance premium for 50 lakhs is nominal, especially if you purchase the plan early in life. Let’s look at a table that compares premium expenses of Max Life Smart Secure Plus Plan [A non-linked non-participating individual pure risk premium life insurance plan | UIN: 104N118V06 for various age groups for basic coverage and base coverage plus rider for the 50 lac term plan:

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

    For CIDR (SA: Rs 5 lakhs, Gold variant with Term upto base plan )


    AgePremium for 50 lakhs Term Insurance Plan (Monthly)Premium for 50 lakhs Term Insurance + Critical Illness Disability Rider# (Monthly)Premium for 50 lakhs Term Insurance +Waiver of Premium Plus Rider# (Monthly)
    20Rs. 372Rs. 450Rs. 384
    30Rs. 505Rs. 630Rs 525
    40Rs. 830Rs. 1,044Rs 890
    50Rs. 1,551Rs. 1,869Rs 1,746
    60Rs. 2,905NARs 3,253

    1Premiums 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.

    50 Lakh Term Insurance Plan | Max Life

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    Max Life Insurance offers flexible and innovative term plans such as the Smart Secure Plus Plan [A non-linked non-participating individual pure risk premium life insurance plan | UIN: 104N118V06] that allows policy buyers to get a coverage 50 lakhs at nominal premium rates. This 50 lakh term insurance plan includes numerous base/built-in features, such as two death benefit options and a regular or limited premium payment option.

    Some benefits of this policy 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

      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 50 lac term plan if you are 18 years old. The maximum age limit on the policy is 65 years.

    For a 24 year old, non-smoker, healthy male for a premium paying term and policy term of 25 years the premium for a cover of Rs.50 lacs with Max Life Smart Secure Plus plan will be Rs. 410 per month (exclusive of GST).

    The term insurance premium for 50 lakhs is quite affordable. By entering basic information about yourself, such as your age, income range, and smoking habits, you may estimate the premium rates for your 50 lac term plan 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 50 lakh term insurance plan if you are 18 years of age.

    The main advantage of purchasing 50 lakh 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 50 lac term plan 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# (Non Linked Non Participating Individual Pure Risk Premium Health Insurance Rider| UIN: 104B033V01) , accident cover*, waiver of premium plus rider# (Max Life Waiver of Premium Plus Rider UIN: 104B029V04) to your 50 lakh term insurance plans 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/50LTI/050623

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

    Other 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

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    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.”

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    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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    *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.

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    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. 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: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: 15 year return (CAGR – Compound Annualised Growth Rate) from Max Life High Growth Fund (ULIF01311/02/08LIFEHIGHGR104) as on 30/06/2022| 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).