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    Term Insurance for Housewife

    There are numerous ups and downs, which you need to be prepared for. It’s not only the male bread winners whose absence can affect a family. Housewives play an equally important role which cannot be undermined. Their absence can give rise to numerous struggles – emotional and financial to begin with.Term insurance for housewife can ensure extra financial security by covering education costs, marriage costs, loans, and health expenses for the present and the future. Hence, it is a must-buy product for the female counterparts of the household....Read More

    Term Insurance and Investment Plans

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    Term Life Insurance

    Housewife Term Plan

    ₹ 2 Crore Term Plan

    Term Plan @ No Cost~1

    ₹ 3 L Premium Back^

    7.5%6 Guaranteed

    Term plan for Housewives without husband’s income proof*

    With Max Life Term Insurance Plan

    • benefits
      Life cover
    • benefits
      Save Tax up to Rs. 46,800##
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    Insure your future, start now.

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

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    Disclaimer: ##

    T&C apply |*Subject to mandatory submission of wife’s surrogate income documents which includes credit card statement, investment portfolio, Systematic Investment Plan, Savings bank account statement, home loan statement, car insurance documents in the name of the policyholder. If wife’s income documents are not given then husband proofs are required.

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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.

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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@

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    What is Term Insurance for Housewife?

    Term insurance for housewife is a type of life insurance product that offers a guaranteed payout to the housewife’s family in an instance of unfortunate event with the housewife This guaranteed*# payout is provided against premium payment made by the policyholder.

    Why Should Housewives Buy Term Insurance?

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    It is definitely the need of the hour for housewives to invest in term plan. Given the rising number of illnesses among females, such as breast cancer, PCOD (Polycystic ovary syndrome), term insurance for housewives can be a necessity.

    Here are some benefits of getting term insurance for housewife:

    • A term insurance for housewife can support your financial planning by offering the nominee a guaranteed sum to deal with necessary expenses.
    • Tax saving benefits.
    • Add-ons such as riders help in covering financial expenses due to critical illnesses

    How to Choose Best Term Insurance for Housewife

    Now that we have established why term insurance for housewife is required, here are some tips that can help you pick a term insurance for housewife:

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    1. Ensure that you are Choosing an Adequate Cover

    The last thing you would want is to choose a cover that is inadequate to meet your financial requirements. Therefore, it’s essential to go for a term insurance plan for housewife that offers financial coverage you need.

    To ensure that, it’s highly recommended to go through your financial plans. Know how much savings you have and how much more you need. At the same time, keep a track of your present expenses, and anticipate your future expenses.

    Decide an adequate coverage amount accordingly. As a thumb rule you can consider the cover amount to be 3 to 5 times of the husband’s annual salary.

    2. Look for the Claim Settlement Ratio

    The Claim Settlement Ratio is an important factor that you need to consider while buying term insurance. Claim settlement ratio is calculated by dividing the number of insurance claims settled by the number of insurance claims received by the insurer. Ideally, you should go for an insurer with a high claim settlement percentage.

    Max Life Insurance has a claim settlement ratio of 99.34% (Source: As per Audited Financials FY’21-22).

    3. Consider the Type of Term Plan

    There are different types of term plans available; namely – Increasing Term Insurance, Decreasing Term Insurance and Return of Premium plan. As these plans offer you different features, you have to choose the one that suits your requirement and financial goals the most.

    Top 5 Insurance Policy Features for Housewives

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    1. Provides Financial Security

    A housewife might not contribute significantly to the financial aspects of the household, but their contributions in the other sphere remain unquestionable. Getting term insurance for housewife can ensure financial security by promising a payout that can come to a family’s rescue. The payout can help the family combat financial crunches and pay for basic future expenses.

    2. Affordable Premiums, You Get Better Coverage

    Unlike a life insurance policy, term insurance for housewife is easier on the pocket. This is because term insurance comes with a death benefit. Life insurance, on the other hand, offers both survival and death benefit.

    3. Benefits of Taxation

    In order to encourage individuals to get life insurance, the Government of India offers numerous tax benefits to the policyholders. Under Section 80C of the Income Tax Act, they can get tax benefits up to the limit of INR 1,50,000. In addition to this, the payout offered to the nominee is also free of taxes under Section 10(10D) of the Income Tax Act.

    4. Premium Waiver

    The premium waiver is another feature offered by numerous life insurance companies. As the name suggests, this feature can waive off the premium should the need arise. In other words, there won’t be a need for the policyholder to pay the premium in certain instances. This is only applicable in instances wherein the policyholder is unable to pay the premium due to an accident or disability.

    5. Get Additional Riders

    Like any other life insurance plan, term insurance for housewife comes with the feature of riders. Riders are policy add-ons that you can get to avail extra benefits and increase policy coverage. The riders differ with the insurance company; however, the most common riders are Critical Illness and Disability Rider (CIDR), Personal Accident Rider, and room rent waiver, to name a few.

    Term Insurance Riders

    If a policyholder wishes to increase their policy benefits and coverage, they have the option of buying term insurance riders with their basic term plan for housewives. Although insurance riders vary with the insurance companies, here are the most common term insurance riders available with term insurance for housewife:

    • Accidental Death Benefit Rider


    This rider promises an additional sum in case the policyholder dies in an unfortunate accident. The percentage is determined according to the original sum guaranteed by the term plan; it may also vary according to the insurance company.

    • Critical Illness and Disability Rider


    The Critical Illness and Disability Rider offers an extra payout if the insured is diagnosed with a critical illness or meets with an accident that causes disability. The payout amount and payout frequency depend on the insurance company

    Types of Term Insurance Plans for Housewife

    There are different types of term insurance plans for housewives. Here are the types in brief:

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    1. The Return of Premium Plan

    This type of term insurance for housewife pays back the premium paid by the policyholder if the insured survives the policy term.

    2. Increasing Term Life Insurance for Housewife

    This term insurance plan for housewives gives the policyholder the option to increase the policy coverage during the term plan. This type of plan is ideal for policyholders who wish to increase their policy cover as their income rises and also for those who wish to.

    3. Decreasing Term Life Insurance for Housewife

    This type of term life insurance offers a sum assured that decreases at a set rate. The basic idea of this type of term life insurance plan for housewives is that as individual ages, their liabilities decrease, the need of a higher sum decreases.

    Frequently Asked Questions

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    The maximum age limit to buy a term insurance plan for housewives is 60. However, some life insurance companies allow housewives above this age limit to purchase a term plan.

    Yes, some term insurance companies do offer accidental coverage for housewives. In addition to it, term insurance for housewives may as well cover health expenses. However, it all depends on the life insurance company you are buying a term plan from.

    No, the employment status of the second spouse is not significant when you are opting for a term plan with spouse cover

    The ideal sum assured should be 3-5 times of annual income of the husband. However, in case you feel the sum assured is not adequate to manage your expenses, you can raise the amount. However, be mindful that an increase in sum assured would increase the premium.

    Anyone over the age of 18 and below the age of 65 is eligible for a term plan. This includes youngsters, married couples and senior citizens.

    A policyholder is required to submit income proof to buy a term plan. Therefore, a non-salaried individual might not be able to buy a term plan. However, it is possible to buy term insurance for non-working spouse in India. Most insurance companies offer spouse cover in term insurance to help you add an extra layer of financial protection for your family in times of need.

    Yes, you can get cheaper term insurance as a couple. Joint term life insurance would be cost-effective option as compared to buying two single-term life policies.

    Yes, it is possible to add your spouse to a term life policy. Spouse term insurance allows the inclusion of your partner under your term plan coverage.

    As the name suggests, a joint term life insurance provides insurance coverage for two people, not one.

    ARN NO: PCP/TIHW/200223

    Check out the different Online Insurance Plans from Max Life!

    • Max Life Smart Wealth Plan

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

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

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

      Know more
    • Max Life Smart Term Plan

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

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

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

      Know more
    • Max Life Online Savings Plan

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

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

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

      Know more
    • Max Life Cancer Insurance Plan

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

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

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

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

      Tax benefit under section 800, as per prevailing tax laws

      Know more
    • Long Term Income

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

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

      Four premium payment options – 6, 8, 10 and 12 years to be chosen as per suitability of the plan for your needs

      Know more
    • Max Life Smart Secure Plus Plan

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

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

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

      Know more
    • 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

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

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

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

      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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      *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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      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)

       

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      ^^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)

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

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

      ##

      Tax conditions :

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

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

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

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

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

      22 critical illnesses covered in gold and gold plus variant

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

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

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

      ~1 Conditions for Special exit value:

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

      ~2 Voluntary Top-up Sum assured:

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

      ^^*^^Free look period conditions:

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

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

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

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

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

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

      Terms and conditions for availing 5% employee discount:

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

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

      9

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

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

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

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

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

      ARN - ARN/Web/01/21042021

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

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

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

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

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

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

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

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      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.

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      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.

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      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.

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      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.

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

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

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

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

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

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

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

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