Max Life Insurance

Term Insurance Plans

Max Life Online Term Plan Plus (UIN: 104N092V04)

A comprehensive protection solution for your loved ones at an affordable price. Avoid the hassle of tedious paperwork and easily get yourself insured online.

What does this Plan Offer?

1 - 3 Death Benefit Options: Choose from 3 death benefit options as per your requirement.

• Basic Life Cover - 100% of the policy Sum Assured paid immediately on death.
• Basic Life Cover + Monthly Income - 100% of the policy Sum Assured paid immediately on death Plus 0.4% of the policy Sum Assured paid every month for 10 years
• Basic Life Cover + Increasing Monthly Income - 100% of the policy Sum Assured paid immediately on death Plus 0.4% of the policy sum assured paid every month for 10 years. The monthly income increases every year by 10% p.a. (simple interest) of the first year monthly income.

2 - Maturity Benefit: No maturity benefit is payable.

3 - Long Term Coverage: Cover till age 85 years by paying till just age 60 years or 10 years.

4 - Critical Illness Benefit: Cover against 40 specified critical illnesses at a small additional premium.

5 - Life Stage Benefit: Enhance your cover at important mile-stones like marriage, child birth or house loan.

6 - Riders for Comprehensive Protection: Get Max Life Comprehensive Accident Benefit Rider & Max Life Waiver of Premium Plus Rider at additional premium.

Plan at a Glance:

Disclaimer - The above information has been sourced from company website and product brochure.

Max Life Smart Term Plan (UIN: 104N086V04)

A comprehensive protection solution which can be personalised at an affordable price. With Max Life Smart Term Plan you get the freedom to design your own plan which suits your protection needs.

What does this Plan Offer?

• Comprehensive Protection Options: Choose from 7death benefit variants for complete comprehensive protection:

  • Life Cover - Lump sum Life cover amount
  • Income Protector - A fixed level monthly income for payout duration of 10 years, 15 years or 20 years as chosen
  • Income + Inflation Protector - Increasing monthly income for payout duration of 10 years, 15 years or 20 years as chosen
  • Life Cover + Income - Lump sum Life cover plus Level monthly income of 0.4% of the Lump sum Life cover amount for 10 years
  • LifeCover + Increasing Income - Lump sum Life cover plus increasing monthly income of 0.4% of the Lump sum Life cover amount for 10 years
  • Increasing Cover - Sum Assured payable increases by 5% p.a. (simple interest) of the Lump sum Life cover amount chosen every year.
  • Reducing Cover - Sum Assured payable decreases by 5% p.a. (simple interest) of the Lump sum Life cover amount, on every 5th policy year.

• Premium Back variant - Available at policy inception only, 100% of the Total Premiums Paid plus will be paid at end of policy term on completion of the policy term.

• Life Stage Option - Increase Sum Assured on important Life Stage events like marriage, child birth or house loan.
• Death Benefit: On the death of the Life Insured during the term of the policy, the Guaranteed Death Benefit is paid.
• Maturity Benefit: No maturity benefit is payable except in case where Premium Back variant

Plan at a Glance:

Disclaimer - The above information has been sourced from company website and product brochure.

Max Life Premium Return Protection Plan (UIN: 104N083V01)

A term plan helps you ensure your family‟s financial comfort in case of an eventuality, how about a plan which offers you protection and also returns all your premiums paid at the end of the term, on survival?

What does this Plan Offer?

• Comprehensive Protection along with inbuilt accident death benefit: Sum assured as death benefit and 50% of base sum assured as an inbuilt accident death benefit.
• Limited Premium Payment tenure for longer term coverage - Flexibility to choose the period of protection i.e. 20/25/30 years and pay for just 11 years.
• Guaranteed return of premiums - On survival till the end of the policy term, get 100% of total premiums back guaranteed.
• Additional discount for females - Lower premium rates for female life insured
• Death Benefit: On the death of the Life Insured during the term of the policy, the Death Benefit is paid.

Plan at a Glance:

Disclaimer - The above information has been sourced from company website and product brochure.

Unit Linked Insurance Plans

Max Life Fast Track Super (UIN: 104L082V04)

A product that helps you in planning your finances better so that your future years are the best years of your life.

What does this Plan Offer?

Max Life Fast Track Super offers the following benefits.

• Comprehensive Life insurance coverage.
• Choice of Policy Term and Premium Payment Term
• 6 Funds for investors to choose as per their different risk appetites
• Systematic Fund Transfer and Dynamic Fund Allocation mechanism to protect your investments against market volatility
• Flexibility to make Partial Withdrawals to meet unplanned expenses
• Death Benefit - Higher of Sum Assured or Fund Value (as on the date of death)
• Guaranteed Loyalty Additions - 0.30% of Fund Value added at the end of every policy year starting from the end of the 11th policy year. These loyalty additions increase by 0.02% (absolute) each year thereafter.
• Maturity Benefit: Fund Value is paid

Plan at a Glance:

Disclaimer - The above information has been sourced from company website and product brochure.

Max Life Platinum Wealth Plan (UIN: 104L090V04)

An exclusive product for an elite customer like yourself, that helps you in planning your finances better so that your future years are the best years of your life.

What does this Plan Offer?

• Comprehensive Life insurance coverage.
• Choice of Policy Term and Premium Payment Term
• 6 Funds for investors to choose as per their different risk appetites
• Systematic Fund Transfer and Dynamic Fund Allocation mechanism to protect your investments against market volatility
• Unlimited Free Switches
• Guaranteed Loyalty Additions and Guaranteed Wealth Boosters
• Low charges - Zero policy administration charge post year 5
• Death Benefit - Higher of Sum Assured or Fund Value (as on the date of death)
• Maturity Benefit: Fund Value is paid

Plan at a Glance:

Disclaimer - The above information has been sourced from company website and product brochure.

Max Life Online Savings Plan (UIN: 104L098V03)

Get life insurance protection for your family along with market-linked returns. You can choose your Death Benefit and Fund option as per your need.

What does this Plan Offer?

• Maturity Benefit: Under both variants, a Lump Sum amount equal to Fund Value is paid
• Death Benefit: a) Variant 1 - Highest of Sum Assured or 105% of total premiums paid till the date of death or Total Fund Value as on the date of death. b) Variant 2 - A Lump Sum benefit is paid immediately on death plus regular payouts as Family Income Benefit plus total Fund Value at the end of the Policy Term plus all outstanding premiums will be funded by the Company.
• Option to choose Policy Term and Premium Payment Term as per your convenience
• 5 Funds for investors to choose as per their different risk appetites
• Dynamic Fund Allocation mechanism to protect your investments against market volatility
• Unlimited Free Switches
• Zero Premium Allocation and Policy Administration Charge

Plan at a Glance:

Disclaimer - The above information has been sourced from company website and product brochure.

Child Plans by Max Life Insurance

Future Genius Education Plan (UIN:104N094V03)

A plan that ensures your child has a financially secure future and gets the very best college education experience to embark on a journey of glorious career even in your absence.

What does this Plan Offer?

• Guaranteed Moneybacks: 4 guaranteed moneybacks equal to 25% of Sum Assured paid annually in the last four years of the policy term.
• Maturity Benefit: Accrued Paid-Up Additions plus Terminal Bonus is paid.

• Death Benefit: Nominee can choose either -

  • A Lump Sum amount payable immediately
  • Monthly Income which is 1% of Death Benefit payable monthly for 135 months.

• Policy Continuance Benefit – In addition to Death Benefit, all future premiums will be waived and Moneyback along with Maturity Benefit is paid.

• Customize the product as per your need - Choose policy term and premium payment which best suits you.
• Flexibility to time your moneybacks through deferment or discounting option
• Tax Benefit
• Enhanced protection through Riders

Plan at a Glance:

Disclaimer - The above information has been sourced from company website and product brochure.

Max Life Shiksha Plus Super (UIN: 104L084V04)

A product that helps you plan for your child's education by providing multiple options and let you decide how you would like to grow your savings and secure his future at the same time.

What does this Plan Offer?

• Comprehensive Life insurance coverage.
• Choice of Policy Term and Premium Payment Term
• 6 Funds for investors to choose as per their different risk appetites
• Systematic Fund Transfer and Dynamic Fund Allocation mechanism to protect your investments against market volatility
• Flexibility to make Partial Withdrawals
• Guaranteed Loyalty Additions - 0.20% of Fund Value added at the end of every policy year starting from the end of the 11th policy year. These loyalty additions increase by 0.02% (absolute) each year thereafter.
• Death Benefit: Following gets paid on the death of the life insured -
  • A Lump Sum amount payable immediately
  • Family Income Benefit equal to 10% of the Sum Assured paid annually till the end of the Policy Term, not exceeding 10 installments
• Funding of Premium – In addition to Death Benefit, all future premiums will be funded by the company & fund value is paid on maturity.
• Maturity Benefit: Fund Value is paid

Plan at a Glance:

Disclaimer - The above information has been sourced from company website and product brochure.

Retirement Plans

Max Life Forever Young Pension Plan (UIN - 104L075V03)

A plan that allows you to invest in the capital markets to build a large retirement corpus and at the same time offers a guarantee to protect your savings from market downturns. Also, get life cover to safeguard your family against unforeseen eventualities so that you and your loved one’s live life on your own terms.

What does this Plan Offer?

• Guaranteed Vesting Benefit - Receive higher of Fund Value or 101% of all premiums paid for the Pension Maximiser Option and 110% of all premiums paid for the Pension Preserver Option
• Choose the vesting age as per your requirement
• Guaranteed Loyalty Additions - 0.50% of Fund Value added at the end of every policy year starting from end of 10th policy year. These loyalty additions increase by 0.02% (absolute) each year from the end of 11th policy year.
• Max Life Partner Care Rider Option: Guarantee the retirement benefit for your spouse on your death
• Top-up: Enhance your retirement corpus, through Top-up premiums in the later years
• Death Benefit: Higher of Fund Value or 105% of the cumulative premiums paid including top-up premiums.
• Vesting Benefit: Higher of the Fund Value or guaranteed vesting benefit
  • For Pension Maximiser Option – 101% of total premiums and Top-up premium paid
  • For Pension Preserver Option – 110% of the total premium and top-up premium paid

Plan at a Glance:

Disclaimer - The above information has been sourced from company website and product brochure.

Max Life Perfect Partner Super (UIN: 104N077V03)

A life insurance plan that provides you protection for life and simplifies your financial planning and savings needs. This plan offers you triple benefits

What does this Plan Offer?

• Get guaranteed 212.5% of the Guaranteed Maturity Sum Assured
• Moneybacks to ensure a carefree retirement
• Lump-sum Benefit on Maturity
• Comprehensive Death Benefit
• Flexible-Premium Payment Terms
• Earn Bonus
• Death Benefit: Guaranteed Death Benefit, plus Accrued Paid-up Additions (if any), plus Terminal Bonus (if any)
• Survival Benefit: 7.5% of Guaranteed Maturity Sum Assured payable from age 61 to 75 (for 15 years)
• Maturity Benefit: Guaranteed Maturity Sum Assured, plus Accrued Paid-up Additions (if any), plus Terminal Bonus (if any)

Plan at a Glance:

Disclaimer - The above information has been sourced from company website and product brochure.

Savings Plans

Max Life Monthly Income Advantage Plan (UIN: 104N091V05)

A comprehensive individual life insurance savings & protection plan that provides you guaranteed monthly income for 10 years and lump-sum benefit, which comprises of non-guaranteed bonuses paid on maturity. Thus, you can ensure that your dreams for your loved ones are fulfilled on time.

What does this Plan Offer?

• Guaranteed Monthly Income: Guaranteed monthly income for a period of 10 (ten) years immediately after completion of Premium Payment Term
• Survival Benefit - Guaranteed monthly income equal to one-twelfth (1/12th) of 10% of Sum Assured payable for 10 years after completion of the Premium Payment Term.
• Maturity Benefit: A lump-sum amount comprising of a sum of accrued compound reversionary bonuses and terminal bonus (if any)
• Death Benefit: A lump-sum benefit paid immediately on death
• Policy Continuance Benefit: All future premiums payable are waived off, Survival benefit & Maturity Benefits are paid to your beneficiary as and when due.
• Tax Benefit

Plan at a Glance:

Disclaimer - The above information has been sourced from company website and product brochure.

Max Life Whole Life Super (UIN: 104N080V04)

A life insurance plan in which you pay premiums for only a limited number of years and enjoy protection up to the age of 100 years. With Bonuses, life cover continues to increase as your age increases. It is easy to take care of your family’s financial needs and provide a legacy in your absence. Additionally, this plan also provides the flexibility to withdraw money from your policy to support major or minor events without having to surrender your policy.

What does this Plan Offer?

• Get guaranteed lifetime protection - Guaranteed protection which continues to grow through bonuses till age 100.
• Flexible premium payment terms - Choose either 10, 15 or 20 years as your premium payment term
• Added Protection - Attach rider(s) for additional protection
• Maturity Benefit - Guaranteed Sum Assured on Maturity, plus Accrued Paid Up Additions (if any), plus Terminal Bonus (if any)
• Death Benefit - Guaranteed Death Benefit, plus Accrued Paid Up Additions (if any), plus Terminal Bonus (if any)

Plan at a Glance:

Disclaimer - The above information has been sourced from company website and product brochure.

Max Life Assured Wealth Plan (UIN:104N096V04)

A Non-Linked, Non-Participating, Individual, Life Insurance Savings Plan, that assures you guaranteed returns to build your wealth.

What does this Plan Offer?

• Guaranteed Maturity Benefit
• Flexible Premium Payment Term and Policy Term
• Complete financial security in case of death
• Enhanced protection through Riders
• Maturity Benefit - Guaranteed Sum Assured on Maturity
• Death Benefit - Higher of 10 times Annualised Premium or Guaranteed Sum Assured on Maturity
• Tax Benefit

Plan at a Glance:

Disclaimer - The above information has been sourced from company website and product brochure.

Max Life POS Guaranteed Benefit Plan (UIN - 104N097V04)

A plan that’s easy-to-comprehend, hassle-free to buy, and provides guaranteed benefit to ensure financial security for your Dreams.

What does this Plan Offer?

• Life Insurance Cover
• Guaranteed Benefit - Maturity Benefit and Death Benefit
• Maturity Benefit - Guaranteed Sum Assured at Maturity
• Death Benefit - Higher of 10 times Annualised Premium or Guaranteed Sum Assured at Maturity
• Fixed Premium Payment Term and Policy Term
• Tax Benefit
• Easy and Simple Process & Plan

Plan at a Glance:

Disclaimer - The above information has been sourced from company website and product brochure.

Health Plans

Max Life Cancer Insurance Plan (UIN: 104N093V03)

Cancer is one such disease whose cost of treatment or procedures related to cancer is very expensive and has potential to put a huge financial burden on the entire family and puts a big dent in your future pool of savings.A comprehensive cancer product that covers all stages of cancer.

What does this Plan Offer?

• Complete Protection - A Comprehensive cancer insurance plan covering all stages of cancer
• Increasing Sum Insured - Sum Insured increases by 10% (simple rate) every year up to a maximum of 150% of the Basic Sum Insured
• Tax Benefit

Plan at a Glance:

Disclaimer - The above information has been sourced from company website and product brochure.

Life Claims

Mandatory documents required

• Original policy documents
• Original or attested copy of death certificate (issued by local municipal authority)
• NEFT mandate form attested by bank authorities along with a cancelled cheque or bank account passbook
• Death claim application form (Form A)
• Nominee's photo identity proof

Other documents required on basis of cause of death

• Medical/Natural death:
• Attending physician's statement (Form 'C')
• Medical records Accidental/Unnatural death:
• Copy of the First Information Report (FIR) or Panchanama/Police complaint
• Copy of the Final Police Investigation report (FPIR)/Charge sheet
• Copy of Post Mortem report (PMR)/Autopsy and Viscera report

Health Claims

• Health claim application form
• Attested copies of all medical records
• Attending physician's statement
• NEFT mandate form

Group Claims

Employer Employee Policies

• Claim form, as applicable
• Original or attested copy of death certificate (issued by local municipal authority)
• EFT mandate form to be completed by nominee/policyholder with a cancelled cheque copy, where the account holder's name is printed or copy of bank pass book

Non Employer Employee Policies: Lender Borrower & Non Lender Borrower Relationships:

• Insurance certificate
• Original or attested copy of death certificate (issued by local municipal authority)
• Claim form, as applicable
• NEFT mandate form attested by bank authorities and a cancelled cheque or bank account passbook

Additional documents required on the basis of cause of death

• Medical/Natural death:
• Attending physician's statement
• Medical records Accidental/ Unnatural death:
• Copy of First Information Report or Panchanama/Police complaint
• Copy of Post Mortem Report /Autopsy and Viscera report
• Copy of Final Police Investigation report /Charge sheet

Cancer Claims

• Cancer Insurance Claim Form - Form CA
• NEFT Form

If the life insured - whether sane or insane - passes away as a result of suicide within 12 months from the date of the policy inception or the date of policy revival of policy, the policy shall be terminated immediately. Here, the company will only refund the total premiums paid.