maxlogo
  • Customer Login
    • Home>
    • Term Insurance Plans>
    • Term Insurance for Self Employed

    Term Insurance for Self-employed

    Term insurance is a type of life insurance that offers coverage for a specified period or term. This insurance policy is an affordable life insurance option, as it pays out a death benefit to the beneficiary in case they pass away during the policy period. Therefore, a term life insurance policy can be an essential part of the financial planning of self-employed individuals....Read More

    max-axis

    Term Insurance and Investment Plans

    tax-icon.svg Tax Savings upto Rs 46,800##
    guard-icon.svg99.34% Claims Paid Ratio^
    discount.svg5% Discount3
    zero-commission.svgZero Commission#~
    boman-mobile-pcp
    max-axis
    tax-icon.svg Tax Savings upto Rs 46,800##
    guard-icon.svg99.34% Claims Paid Ratio^
    discount.svg5% Discount3
    zero-commission.svgZero Commission#~
    Covers COVID-19 Claims**
    term_life_ins_icon_12bc31e8d1

    Term Life Insurance

    1_crore_icon_18a1d013a4

    ₹ 1 Crore Term Plan

    2_crore_icon_77ca5c7e6c

    ₹ 2 Crore Term Plan

    women_ins_icon_aa9537e631

    Term Insurance (Women)

    3_lac_premium_back_1c5e5e9468

    ₹ 3 L Premium Back^

    money_back_821d401ae6

    7.5%6 Guaranteed

    1 Cr Life cover + Premium of Rs.3L* Returned

    With Max Life Term Insurance Plan

    • benefits
      Premiums back ~1 on exit
    • benefits
      Tax savings of up to Rs.46,800/-*
    boman-desktop

    Insure your future, start now.

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

    we_dont_spam

    *

    Disclaimer :

    Max Life Smart Secure Plus Plan. A non-linked non-participating individual pure risk premium life insurance plan| 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 and is rounded off from Rs. 3,23,717 . ~1 Condition for special exit value: Option to receive all premiums paid back at the age of 55 years and post which the life cover also gets terminated. Total premiums paid towards the policy (excl. GST) will be the Special Exit Value payable at the age of 55 years in case the policy holder wishes to completely exit the policy. 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 total premiums paid plus underwriting extra premiums paid plus loadings for modal premiums exclusive of all applicable taxes, cesses or levies. This value shall be applicable on the base cover premium only and not to additional optional benefits like ACI, Accident cover, Joint life cover and Voluntary Sum Assured Top-Up.

    avatar-image

    Written by

    Reviewed by

    avatar-image

    Rohit Ghosh

    Insurance Writer

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

    avatar-image

    Bhaskar Sinha

    Insurance Expert

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

    What is Term Insurance for Self-employed?

    Term insurance for self-employed is a type of life insurance policy that provides financial coverage (i.e. the death benefit) to the designated beneficiary upon the death of the policyholder/life assured during the policy term. For self-employed individuals, having a term insurance policy can be essential to provide financial protection for your family in case of unexpected death.

    The death benefit can be used by the beneficiaries to cover financial obligations such as outstanding debts, loans, or to replace the lost income of the policyholder/life assured. Term insurance for self-employed individuals can provide financial security to the policyholder's family, ensuring they can maintain their lifestyle and meet their financial needs even in the policyholder's absence.

    calculatorBannerImg
    Family's Financial Planning Starts Here
    calculatorBannerTickIcon

    Tax exemptionup to Rs. 54,600~#

    calculatorBannerTickIcon

    High life cover at affordable premiums

    calculatorBannerTickIcon

    Claim Paid Ratio^99.34%

    calculatorBannerTickIcon

    Coverage against 64 critical illnesses@

    Term Plan Calculator

    Secure your future in just 5 minutes

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

    Premium starting at
    Inclusive of GST
    ₹ /month

    Why should Self-employed Individuals Buy Term Insurance?

    Self-employed individuals should consider buying term insurance for several reasons:

    1. Financial Protection

    As a self-employed individual, you are the primary source of income for your family. In the event of your untimely death, your family could face financial hardships. Term insurance can provide a financial safety net for your loved ones and help them pay for expenses such as mortgages, debts, or children's education.

    2. Affordable Premiums

    Term insurance policies are often more affordable than other types of life insurance policies. As a self-employed individual, you may have limited financial resources, and term insurance can be an affordable option to provide financial protection for your family.

    3. Business Continuity

    If you own a business, term insurance can help ensure that your business continues to operate in the event of your death. The death benefit can be used to cover the expenses needed to keep the business running until a successor is appointed or a buyer is found.

    4. Peace of Mind

    As a self-employed individual, you may not have access to employer-provided benefits, such as life insurance. Term insurance can provide peace of mind, knowing that your loved ones will be taken care of if something happens to you.

    In conclusion, term insurance can be an essential part of a self-employed individual's financial plan. It provides financial protection, business continuity, and peace of mind at an affordable price.

    How to Choose the Best Term Insurance for Self-employed Individuals?

    Choosing the best term insurance policy for self-employed individuals requires careful consideration of several factors. Here are some tips to help you choose the best term insurance policy:

    1. Determine the Coverage Amount

    The first step is to determine the amount of coverage you need. Consider your financial obligations, such as outstanding debts, mortgages, and future expenses such as children's education.

    2. Choose the Policy Term

    Choose a policy term that aligns with your financial obligations. For example, if you have a home loan with a term of 20 years, consider a term insurance policy with a term of 20 years.

    3. Read the Policy Document Carefully

    Read the policy document carefully and understand the terms and conditions of the policy. Make sure you understand what is covered, what is not covered, and any exclusions or limitations.

    4. Add Riders if Needed

    Consider adding riders to your policy to enhance your coverage. Riders such as accidental death benefit or waiver of premium can provide additional protection.

    5. Consult a Financial Advisor

    You must consult a financial advisor or insurance agent who can help you choose the best policy that meets your financial goals and objectives.

    Overall, choosing the best term insurance policy for self-employed individuals requires careful consideration of your financial obligations and understanding the policy terms and conditions. Consulting a financial advisor can help you make an informed decision.

    Top 6 Features of Term Insurance for Self-employed Individuals

    Term insurance policies for self-employed individuals may offer several features that can vary depending on the insurance provider. Here are some common features of term insurance for self-employed individuals:

    1. Death Benefit

    The death benefit is the primary feature of term insurance. If the policyholder passes away during the policy term, the beneficiaries will receive a lump-sum payout as per the policy's terms and conditions.

    2. Flexibility

    Term insurance policies may offer flexibility in terms of choosing the policy term and the amount of coverage. This can allow self-employed individuals to customize their coverage to meet their financial obligations.

    3. Convertibility

    Some term insurance policies offer the option to convert to a permanent life insurance policy, such as whole life insurance. This can be beneficial if the policyholder's financial situation changes, and they want to continue their coverage.

    4. Accelerated Death Benefit

    This feature allows policyholders to receive a portion of the death benefit if they are diagnosed with a terminal illness. The accelerated death benefit can help cover medical expenses and provide financial support during the policyholder's final days.

    5. Waiver of Premium

    This feature allows the policyholder to waive premium payments if they become disabled and are unable to work.

    6. Renewability

    Some term insurance policies offer the option to renew the policy at the end of the term without having to undergo medical underwriting.

    Term insurance policies for self-employed individuals may offer several features such as flexibility, convertibility, accelerated death benefit, waiver of premium, and renewability. Therefore, it is essential to review the policy document carefully and understand the terms and conditions before purchasing a term insurance policy.

    Types of Term Insurance Plans for Self-employed Individuals

    Self-employed individuals can choose from several types of term insurance plans based on their financial goals and objectives. Here are some common types of term insurance plans for self-employed individuals:

    1. Level Term Insurance

    Level term insurance provides a fixed death benefit for a specific term, typically 10, 20, or 30 years. The premium remains the same throughout the policy term.

    2. Decreasing Term Insurance

    Decreasing term insurance provides a death benefit that decreases over time. This type of policy is typically used to cover a specific debt, such as a loan, and the death benefit decreases as the debt is paid off.

    3. Increasing Term Insurance

    Increasing term insurance provides a death benefit that increases over time. This type of policy can be used to cover inflation or additional financial obligations that may arise in the future.

    4. Renewable Term Insurance

    Renewable term insurance policies allow policyholders to renew the policy at the end of the term without having to undergo medical underwriting. This can be beneficial for self-employed individuals who may experience changes in their health or financial situation.

    5. Convertible Term Insurance

    Convertible term insurance policies allow policyholders to convert the policy to a permanent life insurance policy, such as whole life insurance, without having to undergo medical underwriting. This can be beneficial if the policyholder's financial situation changes, and they want to continue their coverage.

    6. Group Term Insurance

    Self-employed individuals who are part of a group, such as a professional association or trade organization, may be able to obtain group term insurance coverage at a lower premium.

    As self-employed individuals can choose from several types of term insurance plans based on their financial goals and objectives, they must review the policy document carefully and understand the terms and conditions beforehand.

    Frequently Asked Questions (FAQs)

    search

    Term insurance is a type of life insurance policy that provides coverage for a specified period of time, usually between 10 and 30 years. Term insurance for self-employed individuals is designed to provide financial protection to business owners who do not have the benefits of employer-sponsored life insurance policies.

    The benefits of term insurance for self-employed individuals include:

    • Provides financial protection for your loved ones in the event of your death
    • Can help cover business debts and expenses
    • Offers peace of mind that your family will be taken care of if something happens to you
    • Premiums are generally lower than other types of life insurance policies

    The amount of term insurance coverage you need as a self-employed individual will depend on a variety of factors, including your business expenses, debts, and the financial needs of your family. It is important to work with an insurance professional to determine the appropriate coverage amount for your specific situation.

    To apply for term insurance as a self-employed individual, you will need to provide information about your health, lifestyle, and business. This may include completing a medical exam and providing financial documentation related to your business. You can work with an insurance agent or broker to complete the application process.

    The cost of term insurance for self-employed individuals will depend on a variety of factors, including your age, health, lifestyle, and the amount of coverage you need. For example, the premium for a term plan for a smoker individual is generally higher than that for a non-smoker individual.

    ARN NO: PCP/TISE/090523

    Customer Reviews

    Max Life Term Plan

    “Max Life has helped me to identify the best term plan with adequate Life Cover for protecting my family’s future financial and giving me the peace to enjoy my present existence in this earth. Max Life has helped me to save through Endowment plans, thereby giving me a Guaranteed money at different stages of my life”

    P. Kesavan

    Max Life Term Plan

    “Over all online policy purchase process was easy and purpose form filling process was easy and online premium payment process was easy”

    Zaid Anwar

    Max Life Term Plan

    “Max Life Term Plan is first proper Term Plan to take care of me and my Family. With Max, I am at Peace of Mind with Max Life. I trust you and your Processes. I am Happy to have this Relationship. Manoj”

    Manoj Chandwani

    Max Life Term Plan

    “Life Insurance Products provide arrangements for future events and there are various requirements at different life stages. For events that are to occur beyond 10 yrs, Life Insurance products are the only option. Keeping above in mind, I have Term Insurance, Endowment products taken almost 19 yrs ago and they will give Tax Free Lump sum amounts; I have Guaranteed Income Products and also Annuity Plan. For little better return on my investment I have ULIP plans. I have products, that will provide 25 - 50 thousand every year on my Grand Children’s birthdate - Annual Gift from grandparents when we will not be around”

    Ashok Shah

    Max Life Term Plan

    “I had one endowment plan and one term plan with maxlife and I believe in making the difference with the help of MAXLIFE”

    Satish Kumar

    Max Life Term Plan

    “Thanks for the opportunity to secure life with Max Life, the best term plan comparatively in the market which i opted today and seen that, this plan assisting many with the good claim settlement ratio by Max Life a trusted term insurance company.”

    Naresh Vattela

    Max Life Term Plan

    “My experience has been great with Max Life Term Plan. I truly believe that it is the best term insurance that I have chosen for financial security.”

    Roshni Mudliyar

    Max Life Term Plan

    “I bought the best Max Life Smart Secure Term Plan! from your team. Thanks for the assistance. ”

    Kiran K

    Share your Valuable Feedback
    Rating Icon

    4.4

    Rated by 3893 customers

    Was the Information Helpful?

    Very Good

    Related Articles

    related-articles1

    Term Insurance Comparison

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

    Read More
    related-articles2

    Is term insurance an investment or an expense ?

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

    Read More
    related-articles3

    Difference between Term Insurance Plan and Whole Life Plan

    If you are no longer around… how will your family cope with the bills?

    Read More
    More Resourceful Articles
    StickyImage

    Get ₹2 crore Life Cover @ just ₹1041**/month

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

    Popular Searches

    Term Plan CalculatorOnline Term PlanSmart Term PlanCritical IllnessBest Term Plan With Return Of PremiumClaim Settlement RatioULIP Saving PlanWhat is term InsuranceTax Benefits of Term InsuranceWhy medical Test is Important in Term InsuranceBest Term Insurance for All Age GroupThings to know before Buying Term Life InsuranceBest Life Insurance Policy | Benefits Of best Term InsuranceInsurance CalculatorsOnline InsuranceChild InsuranceRetirement PlanBest Saving PlansGroup InsuranceHealth Insurance PlansBest Investment PlanULIP PlanTax Saving InvestmentTax CalculatorULIP CalculatorCancer InsuranceBecome an agentInsurance CalculatorsSmart Secure Plus PlanBest Term Insurance PolicyCustomize Your Term Life Insurance PolicyLife Insurance term Plan Claim Disability InsuranceHow to Change Nominee in Term Insurance1 Crore Term Insurance2 Crore Term Insurance5 Crore Term InsuranceFD Interest CalculatorCredit Score CheckFixed Deposit OnlineRecurring Deposit OnlineSIPMutual Fund SIP CalculatorEndowment PlanAccident InsuranceCompound Interest Calculator OnlineGold Investment In IndiaGold RateHow To Calculate Return on Investment50 lakh term insurance75 lakh term insuranceTerm Insurance for HousewifeMutual Funds investment Term Plan for Self EmployedBest Term Insurance for Senior CitizenBest Term Insurance Plan for NRITerm Plan for women
    • Online Term Plan
    • Critical Illness
    • Smart Term Plan
    • Term Plan with Return of Premium
    • Claim Settlement Ratio
    • Smart Secure Plus Plan
    • Continue with existing eQuote
    • Term Insurance for Housewife
    • Online Insurance Plans
    • Child Insurance Plans
    • Retirement Plans
    • Group Insurance Plans
    • Health Insurance Plans
    • Cancer Insurance Plan
    • NRI Plans
    • ULIP Plans
    • Tax Saving Investment
    • Smart Wealth Plan
    • Assured Wealth Plan
    • Smart Wealth Income Plan
    • Flexi Wealth Advantage Plan
    • Savings & Income Plans
    • Smart Fixed-return Digital Plan
    • Money Back Policy
    • Pay Premium Online
    • Premium Payment Options
    • Download Premium Receipts
    • Track Applications
    • Claims Centers
    • Download Policy Pack
    • View Policy Details
    • Electronics Insurance Account
    • Frequently Asked Questions(FAQs)
    • Existing Customer Journey
    • Contact Us
    • Update Personal Details
    • Change Nominee
    • Download Forms
    • Update PAN Card
    • Service TATs
    • Auto Debit Deactivation
    • Certificate of Insurance
    • Why Max Life
    • Know Our Story
    • Awards & Achievement
    • CSR
    • Our Leadership
    • Media Center
    • Careers
    • Public Disclosures
    • ISNP Details
    • All About Claims
    • Become An Agent
    • NAV Performance
    • Monthly Factsheets
    • Fund Portfolio
    • NAV Performance & Benchmark
    • Monthly Fund Snapshot
    • Annual Investment Report
    • Investors
    AppstoreImgGooglePlayStoreImg
    footer-logo
    AppstoreImgGooglePlayStoreImg
    facebooktwitterlinkedininstagramyoutube
    • IRDAI Consumer Education Website
    • Agent Suspended & T.
    • Do Not Disturb
    • Insurance Ombudsman
    • Privacy Policy
    • Disclaimers
    • Service TATs
    • Grievance Redressal
    • Unclaimed Amount
    • Withdrawn Plans
    • Sitemap
    • UW Approach & Philosophy

    Group Sites

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

    BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS

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

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

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

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

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

    Corporate Office :

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

    Operation Center :

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

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

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

    Fax Number:0124-4159397.

    Email ids: service.helpdesk@maxlifeinsurance.com

    Website: www.maxlifeinsurance.com

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

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

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

    Disclaimers for Market Linked Plans & Saving plans:

     

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

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

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

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

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

     

    Privacy Policy

    ^^On completion of policy term

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

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

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

    7CMO Asia BFSI Excellence Award 2019

     

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

    4InstaClaim TM is available for all versions of (UIN: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).