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Max Life Online Term Plan Plus is a pure protection plan that can be bought online from the comfort of your home. The plan eliminates the middleman or agent; therefore, the premiums are lower and the terms and conditions are transparent.
Max Life Online Term Plan Plus offers you a range of benefits including:
Minimum Age - 18 years Maximum Age - 60 years
Maximum Maturity Age - 85 years
Minimum term - 10 years Maximum term - 50 years
Base sum assured: Rs 25 lakhs to no limit.
The policy loan is not available under Online Term Plan Plus
Annual, half-yearly, quarterly & monthly
Let's understand how Max Life Online Term Plan Plus works with a simple premium illustration.
Mr. Piyush Verma is looking for a term plan that he can buy online, covers him for critical and terminal illnesses. He also wants rewards for healthy living from his term plan.
His financial advisor advised him to buy the Max Life Online Term Plan Plus from PolicyX.com.
Let's understand how the Max Life Online Term Plan Plus works for him with a premium illustration table.
Age of policyholder | Annual premiums | Policy tenure | Premium payment term | Total premiums paid | Sum assured |
30 years | Rs 16,692 | 70 years | 25 years | Rs 4,17,300 | Rs 1 crore |
Key Takeaways: In case of Mr. Piyush Verma's demise during the policy tenure, Rs 1 crore will be paid to their nominee.
Here are the benefits associated with the Max Life Online Term Plus
In case of the unfortunate demise of the policyholder, the company will provide a lump sum payout of up to 100% of the sum assured.
If the insured is diagnosed with any of the 64 critical illnesses mentioned in the plan, the company will offer a lump sum payment.
Max Life Online Term Plan Plus offers you to choose the benefit payout option from- monthly, lumpsum or a combination of both.
Max Life Term Plan Plus offers tax benefits for up to 1.5 lakhs for paid premiums in 1 financial year.
You can add the following riders to your Max Life Smart Secure Plus Plan:
It will waive off all future premiums and the benefits of the policy will remain the same in case of disability, dismemberment, or diagnosis of critical illness.
In case the policyholder is diagnosed with any of the 64 critical illnesses mentioned in the brochure then rider benefits are paid to them.
Here is the list of exclusions associated with the plan:
Max Life Term Online Plan Plus is an online plan that offers coverage against 40 critical illnesses and a high sum assured of 100 crores. The policyholder can upgrade the plan coverage at any stage of their life, the insured can pay the premium up to the age of 60 and can enjoy the plan benefits up to the age of 85.
If you need any more information about Max Life Online Term Plan Plus, you can contact the experts at PolicyX.com. Our insurance experts will suggest you a plan that best suits your unique needs.
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No, the plan does not offer any pre-existing cover.
Max Life Online Term Plan offer a 15-day grace period to their policyholders.
The plan offers additional coverage under the name of two riders: Accident Benefit Rider and Waiver of Premium Rider.
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Bindiya is a seasoned content writer specializing in keeping readers acquainted with the insurance industry, term insurance developments, and life insurance sector shifts. With an experience of 3 years in insurance, Bindiya ensures that her readers stay well informed with the insurance developments and factually correct information.
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February 5, 2023
Asia/Kolkata
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