About Max Term Insurance Plans

Max Life Insurance Company provides with diverse types of Term Insurance Plans so as to fulfill the requirements of the life insurance seekers. Now let’s have a look at the best term Insurance Plans that have Max Life has on offer.

Plans Entry Age (Years) Maturity Age Policy Tenure Term of Premium Payment
Max Life Super Term Plan
  • Minimum Age: 18
  • Maximum Age: 65 years
75 years 10-35 years Equal to the policy term
Max Life Online Term Plan Plus
  • Minimum Age: 18 years
  • Maximum Age: 60 years
85 years 10-50 years Equal to the policy term
Max Life Premium Return Protection Plan
  • Minimum Age: 21 years
  • Maximum Age: 55 years 50 years 45 years
75 years 20/25/30 years Equal to the policy term

Max Life Super Term Plan

This Max Life term insurance plan comes with an increasing Sum Assured feature. On the other hand, the policy also offers a dual death benefit option.

Special Features Max Life Super Term Plan:

  • The Sum Assured under Max Life Super Term Plan increases each year at a simple rate of 5% till the end of the policy term
  • The nominee will have 2 options of availing the death benefit in the event of the death of the life insured during the course of this Max Life term insurance plan.
    • First Option: 100% of the preferred Sum Assured is paid to the nominee immediately after the death of the life insured.
    • Second Option: 50% of the Sum Assured is paid immediately in lump sum amount to the nominee. The remaining 50% is paid as regular income for the next 10 years. This income will also increase at a simple rate of 8.5% per annum.
  • Under this Max Life term insurance plan, you can avail Max Life Waiver of Premium Plus Rider. This rider can be attached with the base plan to ensure a complete coverage. In case of death, disability or critical illness, all the future premiums are waived off under the rider given that it happens during the term of this Max Life term insurance plan.
  • Tax Savings under section 80C

Eligibility Criteria for Max Life Super Term Plan

Minimum Maximum
Age of Entry 18 years 65 years
Policy Maturity Age - 75 years
Policy Tenure 10 years 35 years
Sum Assured Rs. 25 lakhs No limit
Premium Amount Rs. 5000/- Depends on the coverage
Term of Premium Payment Equal to the policy term
Frequency of Premium Payment
  • Yearly
  • Half-yearly
  • Quarterly
  • Monthly.

Max Life Online Term Plan Basic Life Cover

As the name suggests, this is basically an online term life insurance plan from Max Life.

Special Features of Max Life Online Term Plan Basic Life Cover

  • You can purchase this Max Life term plan online.
  • In case of death during the chosen tenure, the death benefit which is equal to the Sum Assured is paid under this Max Life term insurance plan.
  • You may choose to add an additional Max Life Comprehensive Accident Benefit Rider in order to make this Max Life insurance term plan even more comprehensive. An additional Sum Assured is paid in case of the death of the insured in an accident under the Rider.
  • For choosing higher Sum Assured ranges, the policy offers discounts under this plan.
  • Non-smokers and female lives are given additional premium discounts under this Max Life term insurance plan.
  • Tax Savings under section 80C

Eligibility Criteria for Max Life Online Term Plan Basic Life Cover

Minimum Maximum
Age of Entry 18 years 60 years
Policy Maturity Age - 70 years
Policy Tenure 10 years 35 years
Sum Assured Rs. 25 lakhs Rs. 100 crores
Premium Amount Rs. 5000/- Depends on the coverage
Term of Premium Payment Equal to the policy term
Frequency of Premium Payment Yearly

Max Life Online Term Plan Life Cover + Monthly Income

This is basically an online term life insurance plan from Max Life. The policy offers regular monthly incomes after death.

Special Features of Max Life Online Term Plan Life Cover + Monthly Income

  • This is an online Max Life term insurance plan which you can buy online. You can avail this policy online at a low premium and avoid the hassles of needless paperwork.
  • The Sum Assured is immediately paid to the nominee in case of death of the life insured under this Max Life term insurance plan. After that, the nominee is paid a benefit of 0.4% of Sum Assured each month subsequent the month of death of the insured. In consequence, the total Sum Assured paid to the nominee as well as the monthly payouts is 148% of the original Sum Assured selected at the beginning of this Max Life term insurance plan.
  • You may avail an additional Max Life Comprehensive Accident Benefit Rider to make this Max Life term insurance plan more comprehensive. An additional Sum Assured is paid under this Rider in case the insured suffers death due to an accident.
  • For choosing higher Sum Assured ranges, this Max Life term plan offers discounts.
  • For non-smokers and female lives, premium discounts are offered under this Max Life term insurance plan.
  • Tax Savings under section 80C

Eligibility Criteria for Max Life Online Term Plan Life Cover + Monthly Income

Minimum Maximum
Age of Entry 18 years 60 years
Policy Maturity Age - 70 years
Policy Tenure 10 years 35 years
Sum Assured Rs. 25 lakhs Rs. 100 crores
Term of Premium Payment Equal to the policy term
Frequency of Premium Payment Yearly

Max Life Online Term Plan Life Cover + Increasing Monthly Income

This is an online Max Life term insurance plan that promises regular monthly incomes following the death of the insured.

Special Features of Max Life Online Term Plan Life Cover + Increasing Monthly Income

  • You can purchase this Max Life term insurance plan online and hence, you may bring down the premium and avoid the hassles of needless paperwork
  • The Sum Assured is immediately paid to the nominee in case of death of the life insured during the term of the plan under this Max Life term insurance plan. Afterward, the nominee is paid a benefit of 0.4% of the Sum Assured each month following the month of death of the insured. On the first monthly benefit, this benefit increases each year at a simple rate of 10%, i.e. the increase is offered on the 0.4% of the Sum Assured which is payable in the first month. As a result, the entire Sum Assured is paid to the nominee as well as the monthly payout is 169.60% of the original Sum Assured preferred at the beginning of this Max Life term insurance plan.
  • You can add an additional Max Life Comprehensive Accident Benefit Rider with this plan to make this Max Life term plan more comprehensive. An additional Sum Assured is paid under the Rider in the event of the death of the insured due to an accident.
  • In case of opting for higher Sum Assured ranges and maintaining healthy lifestyles, the policy offers discounts.
  • Tax Savings under section 80C

Eligibility Criteria for Max Life Online Term Plan Life Cover + Increasing Monthly Income

Minimum Maximum
Age of Entry 18 years 60 years
Policy Maturity Age - 70 years
Policy Tenure 10 years 35 years
Sum Assured Rs. 25 lakhs Rs. 100 crores
Term of Premium Payment Equal to the policy term
Frequency of Premium Payment Yearly

Max Life Premium Return Protection Plan

Max Life Premium Return Protection Plan promises the return of premium on maturity.

Special Features of Max Life Premium Return Protection Plan

  • The nominee is paid the Sum Assured chosen at the inception of this Max Life term insurance plan in the event of death of the life insured during the term of this plan.
  • The Max Life term insurance plan comes with an inbuilt Accidental Death Benefit Rider. Under this rider, an additional death benefit will be paid to the nominee if the insured dies owing to an accident during the term of this Max Life term insurance plan. On the other hand, the additional benefit will be 50% of the chosen Sum Assured under this plan. Therefore, the nominee shall receive 150% of the Sum Assured on accidental death, under this Max Life term insurance plan.
  • The term of premium payment is limited to 11 years under this Max Life term insurance plan. However, you may choose a longer tenure of coverage.
  • The insured shall get 100% of the total premiums paid under the Max Life term plan, if he/she In survives till the maturity of this Max Life term insurance plan
  • You may avail Max Life Waiver of Premium Plus Rider which is available under this Max Life term insurance plan. This Rider can be attached with the base plan to make sure that you get a more comprehensive coverage. All the future premiums are waived off in case of death, disability or critical illness under the rider, given that it happens during the term of the Max Life term insurance plan.
  • In case of opting for high Sum Assured levels of Rs.30 lakhs and above under this Max Life term plan, you are offered discount in premium.
  • Tax Savings under section 80C.
Minimum Maximum
Age of Entry 21 years 55 years
Policy Maturity Age - 75 years
Policy Tenure 20 years 30 years
Sum Assured Rs.5 lakhs Rs.1 crore
Premium Amount Rs. 8500/- Based on coverage
Term of Premium Payment 11 years
Frequency of Premium Payment
  • Yearly
  • Half-yearly
  • Quarterly
  • Monthly.