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Max Life Pradhan Mantri Jeevan Jyoti Bima Yojana

 4.0 / 5.0   by 508 users
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Plan Benefits

Payment Options

Policy Coverage

Customer Service

Responsiveness

One of the leading non-banking firm, Max Life Insurance offers wide range of insurance and financial protection plan. Recently, they launched the Max Life Pradhan Mantri Jeevan Jyoti Bima Yojana. This Plan makes sure that you are financially secure even during uncertainties. Max Life Pradhan Mantri Jeevan Jyoti Bima Yojana protects the members of the policy in case of loss of life. This is a grouplife insurance policy. Unlike other insurance schemes, this plan requires only one policy and one contract to protect the entire group.

Type of the plan Non participating Group life insurance plan

Eligibility Conditions for the Max Life Pradhan Mantri Jeevan Jyoti Bima Yojana

Minimum Entry Age 18 years
Maximum Entry Age 50 years
Maximum Maturity Age 55 years

Policy Terms for the Max Life Pradhan Mantri Jeevan Jyoti Bima Yojana

Minimum 1 year
Scheme year A scheme year is from 1st June to 31st May Every Year
Minimum group size 50 members within one year from the date of commencement of the policy.
Maximum member in the group No limit
Minimum premium available Rs.330 per member which is exclusive of taxes and cesses.
Maximum premium available Rs.330 per member which is exclusive of taxes and cesses.
Premium Payment frequency Annually only
Minimum sum insured Rs.2,00,000 per member
Maximum sum insured Rs.2,00,000 per member
Riders plan Not available
Loan on policy Not available

Please note: If members sign the policy after june 1st, they will have to pay full premium of Rs.330 for complete coverage till 31st May.

Key Features of Max Life Pradhan Mantri Jeevan Jyoti Bima Yojana

Premium Payment options Annually
Revival option for reduced paid up policy Policyholders who discontinue the policy for any reason is allowed to revive the policy by submitting a certificate of good health at the time of re-joining.
Death benefit Available from day 1
Maturity benefit Not available
Surrender benefit Nil

Advantages and Benefits of Max Life Pradhan Mantri Jeevan Jyoti Bima Yojana

The features and benefits of the Max Life Pradhan Mantri Jeevan Jyoti Bima Yojana are as follows:

Death benefit

On death of a insured, benefits in lump-sum is payable upto RS.2,00,000.

Tax benefit

Most of the schemes offered by Max Life Insurance company comes with tax benefits and Max Life Pradhan Mantri Jeevan Jyoti Bima Yojana is no exception. Premium paid by the members is eligible for tax benefits as the the taxation law in India.

What you should know about Max Life Pradhan Mantri Jeevan Jyoti Bima Yojana

  • Risk coverage is available at low cost.
  • Fixed premium to be paid irrespective of the age of the policyholder for a coverage of Rs.2.00.000.
  • Participation in the scheme is voluntary.
  • No suicide exclusion under this plan.
  • All death claim payments are exempted from tax.
  • Cess and service tax payable by the members is recovered from the policyholder.
  • The risk coverage can be terminated on death of the insured member, account closure, or on attaining the maximum age limit on annual renewal date, whichever occurs first.

GST of 18% is applicable on life insurance effective from the 1st of July, 2017

Max Life Monthly Income Advantage Plan Reviews

Page 1 of 26 1 2 3 4 5
  • Max Life Insurance
    "Good Policy"
    0.5 5.0/5 "Blown Away!"
    I have taken my money policy 2 years ago. I have selected the MAX because of the agent who explained me about the policy details. I pay the premium amount of Rs. 50000 per annum. I don't remember about the sum assured amount. This is the tax benefit policy. I pay the premium through cash in their branch office.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Dec 03, 2018
  • Max Life Insurance
    "Good"
    0.5 5.0/5 "Blown Away!"
    I have a life insurance with Max Life and it was taken through an agent. This is a necessary for me and it was taken for tax benefits. The customer service is good. The policy coverage and plan benefits are fine, it could have been better. I make annual premium of around 30K.
    Was this review helpful? 0
    , chennai
    Reviewed on Nov 30, 2018
  • Max Life Insurance
    "Dissatisfied"
    0.5 1.0/5 "Really Bad"
    Its a fix guaranteed, I Have invested but I could take the capital amount if I cancel that policy. MY bank forced me but its not recommend from my end. The policy which I took its very disappointed, the customer service is good in one call they updated my KYC details. But the policy terms is not good I get my amount on retired age.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Nov 30, 2018
  • Max Life Insurance
    "Good policy"
    0.5 4.0/5 "Great!"
    I have 2 life insurance policies with Max Life Insurance and am using the service for last 10 months. My friend is working in the company so I have taken the policy with them. I am paying the premium yearly 53K plus 24K through online. The policy is good.
    Was this review helpful? 0
    , chandigarh
    Reviewed on Nov 29, 2018
  • Max Life Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have been using my life insurance with Max life insurance, it has been a month only, and they have charged me premium amount up to 50,000 it was nominal for me and it was based on yearly basis , there agent had explain me policy related norms clearly, overall service is good.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Nov 21, 2018
  • Max Life Insurance
    "GOOD SERVICE"
    0.5 5.0/5 "Blown Away!"
    I have taken the life insurance policy with the MAX LIFE INSURANCE since from past 2010 where the tenuity period of this policy is for 20 years also the policy coverage is for self as well as the nominee. The customer service is very good and supportive.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Nov 19, 2018
  • Max Life Insurance
    "GOOD"
    0.5 4.0/5 "Great!"
    My experience with the MAX LIFE INSURANCE is very good and i am using it from past ten years the maturity period is for 15 years where the premium i pay on monthly basis through the offline. This gives the coverage is for self and i am satisfied with this policy.
    Was this review helpful? 1
    , new delhi
    Reviewed on Nov 16, 2018
  • Max Life Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have been holding my Term insurance with Max life insurance, there service they are given me is good, i use to pay premium on yearly bases, and they have charged me up to 21,000 which was nominal for me and the agent had clearly explain about the policy coverage in this insurance, i use to pay premium through off line mode.
    Was this review helpful? 1
    , new delhi
    Reviewed on Nov 16, 2018
  • Max Life Insurance
    "Necessary policy for any human being"
    0.5 4.0/5 "Great!"
    I have taken my term insurance with Max Life Insurance. I have opened this life insurance policy 2 months before and chosen the monthly payment mode. I pay the premium of 1190. They are providing the coverage value of Rs. 75 lakhs. They are covering the accidental benefits of 10 lakhs and partial disability benefits. I can able to utilize the policy upto 75 years.
    Was this review helpful? 1
    , faridabad
    Reviewed on Nov 16, 2018
  • Max Life Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have been holding my Life insurance with Max life insurance , they have many service center near and the process was smooth and there premium they have charge is nominal , i do payment through on line or off line and there agent are very friendly in nature.
    Was this review helpful? 0
    , ahmedabad
    Reviewed on Nov 16, 2018
  • Max Life Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have been using my term insurance with Max life insurance from last 3 month only, i use to pay premium on monthly bases and they have charge premium up to 1500 approximately and i do payment through on line and there overall service is good.
    Was this review helpful? 0
    , mumbai
    Reviewed on Nov 14, 2018
  • Max Life Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    I have taken a personal loan from one bank they have offered me with the MAX LIFE insurance. I ma holding it from past five years where i pay the premium for yearly once through online. The maturity period of this policy is for 15 years and the coverage is for self.
    Was this review helpful? 1
    , bhubaneshwar
    Reviewed on Nov 07, 2018
  • Max Life Insurance
    "GOOD"
    0.5 4.0/5 "Great!"
    I have purchased the TERM POLICY with the MAX LIFE INSURANCE the documentation for taking the policy is easy and good. I have been using from last three years the maturity period of this policy is for 25 years. The premium i pay yearly once also the service is good.
    Was this review helpful? 0
    , noida
    Reviewed on Nov 03, 2018
  • Max Life Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    I am having a Max Life insurance policy from the last 11 years, it is a pension policy where i get good benefits and returns. Maturity period for this policy is 11 years but it can go up to 20 years. I pay my premium every month through ECS and i am convenient with the payment options.
    Was this review helpful? 1
    , kochi
    Reviewed on Oct 11, 2018
  • Max Life Insurance
    "Good policy"
    0.5 4.0/5 "Great!"
    I have taken life insurance from the Max life as it has good returns i make the payment through online banking annually . This policy covers accidental and critical illness benefits with the tenure period of 15 years . Overall am satisfied with my policy .
    Was this review helpful? 1
    , pune
    Reviewed on Oct 03, 2018
  • Max Life Insurance
    "GOOD"
    0.5 4.0/5 "Great!"
    This is a term plan which i have purchased it through MAX LIFE INSURANCE. The tenuity period is for 8 years and premium i pay yearly through auto debit from account. Documentation done physically also it provides the self coverage along with the accidental benefits is. I am using from last 2 years.
    Was this review helpful? 2
    , mumbai
    Reviewed on Oct 03, 2018
  • Max Life Insurance
    "Average Service"
    0.5 3.0/5 "Satisfactory"
    I've a life insurance policy with the Max Life. I am paying a premium of 35K per year, they all provide massive offerings in order to convince the customers but once the customer has taken the policy; the service part becomes pathetic. They need to be more helpful and beneficial form the customer point of view.
    Was this review helpful? 4
    , hyderabad
    Reviewed on Sep 15, 2018
  • Max Life Insurance
    "Good services overall"
    0.5 4.5/5 "Excellent!"
    Max Life Insurance was pretty quick in the response for the term plan. The plan riders come up with good set of critical illness. The insurance procedure was quiet well described and executed. Just wish to add one point for the medical test center guys, please try to maintain cleanliness of the instruments because it will help in creating a hygienic impression of the process.
    Was this review helpful? 4
    , ahmedabad
    Reviewed on Sep 10, 2018
  • Max Life Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I had taken this Insurance Policy a long time back, it has been a good policy. I had been making the payments online and i had been making the payments offline and there has not been any hassle in making the payments. Their customer support and their staff responses had been good as well.
    Was this review helpful? 1
    , bangalore
    Reviewed on Sep 03, 2018
  • Max Life Insurance
    "Excellent Service"
    0.5 5.0/5 "Blown Away!"
    I had taken this insurance policy almost 5-6 months back. I had been making the payments online and the payment methods had been simple and easy. The premium which has been paying had been good. There has not been any hassle faced with them so far.
    Was this review helpful? 0
    , new delhi
    Reviewed on Aug 27, 2018
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