Max life Insurance plans

Max life Online Term Plan Insurance

This Term plan is the simplest form of life insurance, which gives you a high life cover at affordable and low premiums. In case of an unfortunate death, your nominee will get a one-time lumpsum payout equal to 100% Sum Assured chosen by you at the time of purchase of the policy.

Max Life Term Life Insurance Review

Max Life Term Life Insurance
Distribution - Number of branches pan India (March 2019)
269
Entry Age Minimum/Maximum (Years)
18 / 60
Sum Assured Minimum / Maximum
10 lacs / Unlimited
Policy Term Minimum / Maximum (Years)
10 / 50
Solvency Ratio (FY 2018-19) *
2.42
Number of Policies Sold (Ind+Group) **
527,601
Number of Lives Covered (Ind+Group) **
6,438,358
Claims Settlement Ratio (Ind+Group) ***
99.22%
* - As per IRDAI data 2018-19 - The solvency ratio of an insurance company is the size of its capital relative to all the risk it has taken, which is all liabilities subtracted from total assets. In other words, solvency is a measurement of how much the company has in assets versus how much it owes.
** - as per L-25 Public Disclosure of Insurance Companies for 2019-20   |   *** - Claims Settlement Ratio = Claims Settled in the year / Claims Reported in the year - as per IRDAI data published

Max life Online Term Plan Insurance Overview

  • Benefits
  • Eligibility

Benefits of Max Life Online Term Plan Insurance

  • Limited Pay Option
    You can choose to pay your premiums only for 10 years or your working years (age 60) till your retirement, while you will be covered till 85 years
  • Death Benefit
    In case of death of the life insured, the nominee will receive a lumpsum payout that was chosen by the policyholder, which is 100% of Sum Assured.
  • Maturity Benefit
    Max Life Online Term Plan Plus is a pure term plan that provides only death benefit in case of unfortunate death of the life insured, provided the policy is in force. There is no maturity benefit or surrender benefit under the plan.
  • Tax Benefit
    As per the prevailing tax laws, the premium paid is eligible for tax exemption under section 80 C as per the Income Tax Act 1961. Death benefits received by the policyholder’s nominee are also tax free.

Eligibility criteria of Online Term Plan Insurance

Entry Ages (Age as on Last Birthday) Minimum entry age: 18 years
Maximum entry age: Regular Pay:- 60 years / Pay till 60 - 50 years / 10 Pay- 49 years
Maximum Maturity Age (Age as on Last Birthday) 85 years
City of residence In 353 cities in India
Nationality For NRIs in
NRIs can contact us by emailing at nri.helpdesk@maxlifeinsurance.com

Brochure

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Policy wordings

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CIN: U66000KA2018PTC117713 | IRDAI Web aggregator License Code Number: IRDAI / INT / WBA /53/ 2018, Valid till 07/08/2025