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    Max Life Smart Secure Plus Plan

    With the rapidly changing economy, managing everyday expenses can become challenging. One must have a contingency plan to meet the family's growing needs. Max Life Smart Secure Plus Plan can act as a saviour to create a financial net around the family. It is specifically designed to fulfil financial requirements and offer reliable support in case of contingencies. With the Smart Secure Plus Plan (A Non-Linked Non-Participating Individual Pure Risk Premium Life Insurance Plan UIN: 104N118V06), the insured gets two death benefits, including a cover for terminal illness and an exit value. In addition, this plan provides optional benefits such as premium breaks, joint life cover, additional payout on accidental death and much more....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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    Upto 20% Lower Premiums~3
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    1 Cr Life Cover + 1 Cr on Maturity

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    7.5%6 Guaranteed

    Get financial protection with

    Max Life Smart Secure Plus Plan

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      Buy Term Insurance
      @ Just Rs. 700~*/month
    • benefits
      Terminal Illness Coverage
      @ zero additional cost
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    Insure your future. start now.

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

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    Written by

    Reviewed 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 Max Life Smart Secure Plus Plan?

    It can be challenging to manage the growing expenses in a rapidly changing economy. It would be best if you had a contingency plan to accommodate your family’s evolving financial requirements. Max Life Smart Secure Plus Plan – a new product offering of Max Life term insurance comes to your rescue and helps you create a financial shield that can accommodate any such changes.

    Max Life Smart Secure Plus Plan offers two death benefits. The Smart Secure Plus Plan is designed to fulfil your financial security requirements and provide a dependable support system for emergencies. You also get inbuilt benefits such as cover for terminal illness and a special exit value*.

    This term plan also offers an array of optional benefits such as joint life cover, premium breaks, additional payout on accidental death and more. With this plan, your insurance needs are completely covered. It can work as a one-stop solution for your financial security requirements. As the policy buyer, it is best to understand how the policy works to be more aware of your financial decisions.

    (*This is only applicable for NROP (Pure Protection), Policy Term 40 and above)

    Online Term Plan

    Max Life Smart Secure Plus Plan

    A plan that provides comprehensive financial protection.

    A plan that provides comprehensive financial protection.

    Based on 22643 users

    PLAN BENEFITS
    Online Term Plan

    ₹ 1 Cr

    Life Cover

    Online Term Plan

    64

    Critical Illness Cover

    Online Term Plan

    ₹ 46K*

    Tax Savings

    • Return of Premium : Get back all premiums paid on survival till maturity
    • Limited pay option : Pay premium till 60 years for a life cover till 85 years
    @₹ 700/Month~

    Disclaimers:

    ~This is applicable for a 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. *Tax benefits as per prevailing tax laws, subject to change. Save Rs. 46,800 on taxes if the insurance premium amount is Rs.1.5 lakh per annum and you are a regular Individual, falling under 30% income tax slab having taxable income less than Rs. 50 lakh and Opt for Old tax regime.

    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.

    ARN: PC/SSPP/050623

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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^99.51%

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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
    Inclusive of GST
    ₹ /month

    How does Max Life Smart Secure Plus Plan work?

    Having a sound financial plan against unforeseeable circumstances is crucial. You can ensure your family’s well-being in your absence by investing your hard-earned money in the right instrument. Let’s understand how the Max Life Insurance term plan works in detail to help you make a well-informed decision.

    With Max Life Smart Secure Plus Plan, you get to choose from the following benefit types and policy term options while purchasing the policy:

    Benefit TypeMinimum Policy TermMaximum Policy Term*
    Base Cover10 Years67 Years
    Accelerated Critical Illness (ACI) Option10 Years50 Years
    Accident Cover Option5 Years67 Years

    Additionally, there are different premium payment terms available such as:

    Premium Payment Term (PPT)Available Base Policy Terms*Available ACI Policy TermsAvailable Accident Cover Policy Terms*
    Single Pay10 Years to 67 YearsNANA
    Regular Pay10 Years to 67 Years10 Years to 50 Years5 Years to 67 Years
    5 Pay10 Years to 67 YearsNA10 Years to 67 Years
    10 Pay15 Years to 67 Years10 Years10 Years to 67 Years
    12 Pay17 Years to 67 Years10 Years to 12 Years10 Years to 67 Years
    15 Pay20 Years to 67 Years10 Years to 15 Years10 Years to 67 Years
    Pay Till 60
    The premium payment term will be equal to (60 less Entry Age (Age last birthday))
    Policy term should be greater than premium payment term and can be a maximum of 67 years10 Years to (60 less Entry Age (Age last birthday))6 Years to 67 Years

    This plan offers two death benefit options to cater to diverse financial requirements. Mr Kapur can choose from a Life Cover or an Increasing Life Cover, depending on his preference.

    1. Life cover

    The base sum assured that Mr Kapur chooses at the policy’s inception will remain the same throughout the policy term.

    2. Increasing Life Cover

    The base sum assured that Mr Kapur chooses at the policy’s inception will grow at a rate of 5% annually at each policy anniversary, subject to a maximum of 200% of the base sum assured. This life cover is ideal for managing the impact of inflation and increased cost of living.

    In addition, the beneficiary of Mr Kapur’s policy may choose from different payout options at the claim stage. Since each family’s financial profile is different, the payout options allow them to receive the money on their terms per their preference.

    1. As a Lump Sum

    In the case of Mr Kapur’s untimely demise, his family will receive 100% of the guaranteed death benefit as a lump sum upon claiming at the claims stage with the Max Life term insurance.

    2. As Monthly Income

    His family can receive the guaranteed death benefit as regular payments in 120 instalments or 120 monthly incomes to replace the income source. This option can work for families like Mr Kapur’s, where he is the sole wage-earner. It will allow them to meet the monthly expenses and keep a steady flow of income.

    3. Part Lump Sum and Part Monthly Income

    This option for the payout allows Mr Kapur’s family to receive the guaranteed death benefit as a lump sum amount and a monthly income. They can choose the proportion of the death benefit payable as a lump sum, and the remaining death benefit will be payable as a monthly income.

    Benefits of Max Life Smart Secure Plus Plan

    Let’s understand the benefits of Max Life Smart Secure Plus Plan in detail:

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    Death Benefit

    You can establish a strong financial support system for your loved ones with the Life Cover or Increasing Life Cover option offered by Max Life Smart Secure Plus Plan. This plan allows you to choose from variants and ensure that the sum assured is adequate even for the coming years. With the options for customisation available, you can cover all your bases and keep your family secure and financially stable during challenging times. Since the primary objective of any term plan is to cover the insured individual’s life and financial liabilities, it is crucial to choose the life cover option carefully. Make sure you map your financial requirements for the future well and select the life cover option that aligns with your objectives fittingly.

    Terminal Illness Cover

    As part of this term insurance plan benefits, your financial needs will be taken care of if you are diagnosed with a terminal illness. In such a scenario, 100 % of the guaranteed death benefit (capped at 1 crore) will be paid to you upon certification by a medical practitioner.

    Maturity Benefit

    Suppose you opt for the return of the premium variant with a smart secure plus plan at the time of purchase. In that case, it entitles you to receive a maturity benefit upon surviving the policy term. With this option available, you can receive the total premium paid at the end of the policy term.

    Accident Cover

    Under this benefit, the insured's family receives the cover amount and base cover in case of the insured individual’s demise due to an accident. You can add this cover to your term plan (Max Life Smart Secure Plus Plan) at any time during the premium payment term, subject to the conditions for the accident cover.

    Accelerated Critical Illness

    With the Accelerated Critical Illness (ACI) benefit, you are eligible to receive the cover amount upon diagnosis of any of the 40 specified critical illnesses, provided the policy is in-force and meets other terms and conditions.

    Joint Life Benefit

    If you are looking for a policy that can take care of your spouse’s needs after you, this may be a preferred choice. A significant concern when buying term insurance is the financial care of your spouse in case of an unfortunate event. Therefore, choosing a policy like the Max Life Smart Secure Plus Plan can give you peace of mind. When buying the Max Life Smart Secure Plus Plan, you can choose a joint life cover to secure your partner’s life and yourself. Here’s how it would work:
    • In case your spouse meets with an untimely demise before you or is diagnosed with a terminal illness, a guaranteed death benefit of Rs 10 lakhs will be payable to the beneficiary. The primary life cover will continue at a reduced premium and the original sum assured chosen by you will be payable to your spouse in the payout option of their choice.
    • In case you suffer an unfortunate incident before your spouse, and if in the future, they are diagnosed with a terminal illness or pass away, the guaranteed death benefit of Rs. 50 lakhs will be payable to the nominee. Additionally, it comes with a built-in premium waiver, meaning premiums will be waived off for your spouse’s sum assured upon your demise. Riders for Additional Benefits.

    Riders

    Along with the base benefits of the Max Life Smart Secure Plus Plan, you can choose from various riders to add to your policy. These include a premium plus rider waiver and critical illness cover (CIDR).
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    Joint Life Term Insurance Policies

    The joint life feature in the Max Life Smart Secure Plus plan allows you to opt for additional life cover for your spouse, with a nominal increase in the premium of the base sum assured, at the inception of the policy. This feature offers life cover up to 50 Lac for your spouse, starting at just 5% of the base premium

    How does Joint Life Policies work?

    With this feature you can cover your spouse, at inception at nominal premium. Under the Joint Life option, both you (Primary Life) and your spouse (Secondary Life) are covered. This option needs to be chosen at the inception of the Policy. Let’s understand this better with the help of an example

    Raj, 35-year-old male, choses a base sum assured of 2 Crore for a monthly premium of Rs.3063 (cover till 75) & opts for a joint life option for additional protection for his wife, Seema (30-year-old) by paying just Rs.171 Per month extra. Here, Raj is the PLI & Seema is the SLI.

    Under this benefit:

    A. If Raj dies or is diagnosed with terminal illness, before Seema’s death/terminal Illness diagnosis

    • Death benefit of 2 Cr paid to Raj’s nominee
    • Inbuilt waiver of premium to waive off any premiums to be paid for Seema’s life cover
    • 50 Lac death benefit to Seema’s nominee on her death/terminal illness diagnosis, in case it happens before end of PT

    B. If Seema dies or is diagnosed with terminal illness before Raj’s death/terminal illness diagnosis

    • Death benefit of 10 Lac to be paid to Seema’s nominee
    • 2 Cr Death benefit to Raj’s nominee on her death/terminal illness diagnosis, in case it happens before end of PT

    C. If both Raj & seema die/diagnosed with terminal illness together

    • Death benefit of 2 Cr paid to Raj’s nominee
    • Death benefit of 50 Lac paid to Seema’s nominee

    Eligibility Criteria for Joint Life option

    • Joint life cover is available only for your spouse i.e. Secondary Life.
    • This option is only available at inception
    • Joint life cover is available only if the Primary life base sum assured is greater than or equal to Rs. 1 crore.
    • Maximum maturity age for Secondary Life shall be 85 years (age last birthday) post which the Secondary Life policy will terminate irrespective of the Primary Life policy still being inforce
    • Premium break cannot be opted with this feature
    • Features like ACI, ROP, Increasing cover, voluntary top-up & SEV are applicable on PLI cover only

    Why Choose Max Life Smart Secure Plus Plan?

    Each year the cost of living is steadily rising, and the threats to life have multiplied. Having a life insurance plan for your family’s future is integral in such a scenario to be prepared against any uncertainties. The new Max Life term insurance plan (Max Life Smart Secure Plus Plan) can be a valuable addition to your financial plan because of the varied multiple benefits and features.

    Here are some reasons why you should choose the new Max Life term insurance:

    1. Comprehensive Financial Security

    Suppose you understand your personal financial requirements well and project future needs cautiously. In that case, you can choose the right combination of features and benefits with the Max Life Smart Secure Plus Plan. The availability of death benefit options and several add-on benefits make the new Max Life insurance term plan a suitable instrument to get comprehensive financial security.

    It will enable you to build an all-inclusive financial security plan that can efficiently protect you and your loved ones. If your family depends on your income, it is of utmost importance that you begin investing timely.

    2. Health Component

    Max Life term insurance (Max Life Smart Secure Plus Plan) comes with a terminal illness benefit that entitles you, the insured person, to the sum assured of up to Rs 1 crore in case of diagnosis of a disease. Without a plan like Max Life term insurance (Smart Secure Plus Plan) that offers 100% of the sum assured in case of a terminal illness (capped to 1 Cr), you may face an immense financial burden to cover the respective medical expenses.

    Health-related expenses are the most significant financial drain in a person’s life. It may be unpleasant to think of yourself or your family suffering, but being financially prepared for such situations is crucial. Therefore, Max Life offers a critical illness and disability rider, which can further strengthen the cover and provide valuable financial assistance to you. Additionally, the health component of the Max Life term plan is a desirable advantage, considering the rise in cases of critical illnesses in recent years.

    3. Flexibility of Claims Payout

    It offers the flexibility of claims pay-out to your beneficiary to receive the sum assured as per their requirements in case of the insured’s untimely demise. They can opt to receive the death benefit as a lump sum amount, regular payments to replace the monthly income source or as a combination of both (as per the nominee’s choice).

    Since term insurances are long-term protection plans, the needs of your family may have transformed by the time they receive the death benefit. So, the availability of multiple pay-out options can help them use the money according to their needs at the time. For instance, they can take the lump sum amount if there is a significant expense, such as a child’s college fees to be paid.

    Max Life Smart Secure Plus Plan Features

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    Return of Premium

    Under the new Max Life term insurance, you can receive 100% of the total premiums* paid with the return of the premium feature, in case you survive the policy. This benefit is available with Base Covers and all Premium Payment and Policy Terms. If you wish to have the assurance of getting your money back at the end of the policy term, this plan may work well for you.

    *plus underwriting extra premiums plus loading for modal premiums, if any, under the base policy only (corresponding to the base Sum Assured and any Voluntary Sum Assured Top-up)

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    Premium Break

    The premium break is a unique feature of the new Max Life term insurance. With this feature, you can take a premium break or holiday from paying the premium once the policy has completed ten years of tenure. When you opt to take the premium break, the policy remains in force with the risk cover functional per the terms and conditions of the Max Life term plan. You can choose these options twice during the premium payment term. Premium Break option is available for policies with a policy term greater than 30 years and premium payment term greater than 21 years.
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    Special Exit Value

    Under this option of the Max Life term insurance, you will have a one-time option to exit the policy with an exiting benefit of Return of Premiums (total premiums paid plus underwriting extra premiums paid plus loading for modal premiums, if any) at the time of exercising the option, for the base cover only. Once the policy premiums have been returned, the policy will be terminated. Notably, this option is available if the policy term for the pure protection plan is 40 years or more. It is not available with the ‘return of premium’ variant.
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    Voluntary Sum Assured Top-Up

    With the voluntary sum assured top-up feature of the Max Life term insurance, you can increase the sum assured at a later stage in the policy term if the sum assured was chosen at the policy's inception and it is greater than or equal to Rs.50 lakhs. You can exercise this option after completing one policy year. You can increase the cover up to 100% of the base sum assured. The policy must have a minimum premium payment term of 5 years and a minimum policy term of 10 years for this option to be available. The amount shall be payable in case of the insured’s demise or upon diagnosis of a terminal illness. The option can only be exercised after a one-year waiting period from the time of policy issuance.

    Choosing the Right Sum Assured Option for Max Life Smart Secure Plus Plan

    When it comes to the comprehensive financial protection of your loved ones it is essential that you select the adequate sum assured. Know more on how to decide the sum assured for your term insurance. You can click on the below tabs and choose the adequate 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

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    ₹ 1 Crore

    Starting from ₹ 23/ day*

    Check Plan

    Term Insurance

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    ₹ 1.5 Crore

    Starting from ₹ 35/ day*

    Check Plan

    Term Insurance

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    ₹ 2 Crore

    Starting from ₹ 35/ day*

    Check Plan

    Term Insurance

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    ₹ 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

    Download Policy related Documents

    Policy ProspectusPolicy LeafletPolicy ContractPremium Rates Table

    Riders Available With This Plan

    Max Life Waiver of Premium Plus Rider

    Max Life Waiver of Premium Plus Rider (UIN: 104B029V04) provides a waiver of all future premiums in case of Critical Illness, Dismemberment, or Death (only when Life Insured and Policyholder are different individuals). This product doesn’t have an in-built Waiver of Premium benefit, thus, the rider benefit is an additional benefit. For more details on the Rider and various terms and conditions, please refer to the Max Life Waiver of Premium Plus Rider Prospectus/ Brochure, Rider Contract, Rider Rates, and Rider Leaflet.

    Downloads

    • Rider prospectus
    • Rider contract
    • Rider rates
    • Rider leaflet

    Max Life Smart Secure Plus Plan - FAQs

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    The minimum entry age for the new Max Life term insurance is 18 years, and the maximum age is capped at 65 years. As per the plan, you pay till the age of 60, and the maximum entry age is 44 years.

    The premium payment options under this plan are single pay or regular pay. You can alternatively choose a limited pay duration (5 pay, 10 pay, 12 pay, 15 pay, or pay till 60) of the premium payment. The frequency of the premium payment can be annual, half-yearly, quarterly, or monthly.

    The policyholder has a period of 15 days (30 days if the policy is sourced through Distance Marketing modes) from the date of receipt of the policy document to review the terms and conditions of the Policy, where if the policyholder disagrees with any of those terms or conditions, they have the option to return the Policy stating the reasons for their objections. The policyholder shall be entitled to a refund of the premiums paid, subject only to the 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.

    Annualised Premium is the base premium amount payable in a year which the policyholder chooses, depending on the policy period and sum assured. The Annualised Premium remains the same irrespective of the premium payment mode. ‘Annualised Premium’ shall be the premium amount payable in a year chosen by the policyholder, excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any. The Annualised premium remains the same irrespective of the premium payment mode.

    Benefit Type

    Maximum Maturity Age (Age last birthday)

    Base Death Benefit

    85 Years

    Accelerated Critical Illness (ACI) benefit

    75 Years

    Accident Cover Option

    85 Years

    For more details on risk factors, terms and conditions, please refer to the product and rider prospectus before concluding a sale.

    ARN: PCP/SSPP/060723

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      Know more
    • Max Life Online Term Plan Plus (Discontinued)

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      Tax benefit under section 80D, as per prevailing tax laws

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

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      Know more
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      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
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     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)

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    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).