Bankbazaar

Max Life Group Super Life Premier Plan

Employees are an integral component to any business in any sector. Retaining employees in the face of growing attrition is a key challenge faced by employers. The ensures that employers are able to recognize their employees’ contributions through service to the company by securing benefits for them.

Key features of Max Life Group Super Life Premier Plan:

  • It is an effective tool to secure the employee's future against death.
  • Death benefit received by beneficiary is free from taxation.
  • The plan is an excellent tool for the employer to show recognition to his/her employees for their service to the company and acts as a motivator for the employee thereby reducing attrition.
  • Employees are able to achieve life insurance through the additional insurance cover option (voluntary top up).
  • The plan also offers a variety of riders under the and total disablement due to accidents.
  • It has the option for spouse and dependent cover.

Benefits:

Benefits of Max Life Group Super Life Premier Plan is as follows:

In the event of

When and how the benefits are payable

Size of the benefit/policy monie

Death of member.

In the event of an employee's death due to accidental or natural causes, the benefits will be paid in lump sum.

Sum assured chosen.

Survival Benefit

NA

NA

Maturity

NA

Nil

Surrender

Benefits will be payable when the member exits the scheme

The benefit payable is the proportionate premium for the unexpired period of risk.

Eligibility Criteria:

Below are the criteria for eligibility for Group Super Life Premier Plan:

Criteria Minimum Maximum
Group Size Minimum size of group is 10. 50 members in case of non employer employee groups No Limit
Entry Age Minimum age for entry is 18 years as at last birthday
  • Maximum age of entry is 74 years as at last birthday
  • 64 years is the maximum age at entry for non employer employee groups
Minimum Face Amount Rs.1,00,000 for a scheme and Rs.5,000 for a member. No limit but is subject to underwriting.

Along with these, the other eligibility criteria are:

  • Term of policy: The term of the Max Life Group Super Life Premier Plan is 1 year
  • Event covered: The policy covers the event of Death (accidental or natural).
  • Maximum maturity age: For employer-employee groups,the policy ceases to cover a member upon the policy anniversary following or coinciding with the member attaining 75 years of age.For affinity groups, the cover ceases upon the member attaining 65 years of age.
  • Modes of premium: Premium payment modes are annual, semi-annual, quarterly and monthly.

Riders:

The Max Life Group Super Life Premier in lieu of EDLI offers 4 riders in its policy. They have been listed below:

  1. Max Life Group Accelerated Terminal Illness Rider: This rider covers the event of terminal illnesses. It has a policy term of 1 year with minimum age of entry being 18 years, maximum being 74 years and the policy attains maturity upon insured member attaining 75 years of age. Terminal illness is a condition that an insured member is suffering from which in the opinion of a medical practitioner and approved by the company's appointed medical practitioner is likely to result in death of the insured within 6 months of diagnosis. If an insured member is diagnosed with a terminal illness during the policy term, the payment will be 100% of the death benefits subject to a maximum of RS 50 lac. The minimum sum assured is RS 5000 and maximum sum assured is RS 50 lac. Modes of premium are annual, semi-annual, quarterly and monthly. Maximum premium of this rider shall not exceed 100% of the premium of the base policy when attached to a group plan.

  2. Max Life Group Accidental Death Benefit Premier Rider: This rider with a policy term of 1 year covers events due to death by accident. It has a minimum eligibility age of 18 years to enter and a maximum age of 65 years. The rider will reach maturity when the member attains 66 years of age. It minimum sum assured is RS 5000 and the maximum sum assured is RS 50 lac provided the rider sum assured does not exceed the assured sum of the base policy. There is no minimum premium limit in this rider and the maximum premium limit does not exceed 30% of the premium payable under the base policy.

  3. Max Life Group Total and Permanent Disability (Accident) Premier: This rider with a term policy of 1 year covers the event of total and permanent disability due to accident provided the accident took place during the policy term. The benefit will be paid within 180 days of the date of the accident. The minimum sum assured is RS 5000. The maximum sum assured is RS 50 lacs provided rider sum assured does not exceed sum assured under base plan of the scheme. It has a minimum entry age of 18 years, maximum entry age of 65 years and reaches maturity when member attains 66 years of age. There are 4 modes of premium payment which are annual, semi-annual, quarterly and monthly.

  4. Max Life Group Critical Illness (Additional Benefit) Rider: The rider term is 1 year and covers the event of critical illness. Critical illness will be valid if insured member for the first time in their life is diagnosed with one of the 12 critical illnesses covered by the policy. The benefit will be paid out if insured survives 30 days after date of first diagnosis. It has a minimum entry age of 18 years, maximum entry age being 65 and rider reaching maturity when member attains 66 years of age. It has 4 types of premium payments. They are annual, semi-annual, quarterly and monthly. The minimum sum assured is RS 5000 per member. The maximum sum assured is RS 50 lac provided rider sum assured is lesser than sum assured under base plan of the scheme.

Other Max Life Insurance Group Plans

  • Group Super Life Premier Plan in lieu of EDLI
  • Group Credit Life Secure
  • Other Poular Max Life Insurance Plans

  • Max Life Insurance Child Plans
  • Max Life Insurance Pension Plans
  • Max Life Insurance Investment Plans
  • Max Life Insurance Savings Plans
  • Max Life Insurance Group Plans
  • Max Life Term Insurance Plans
  • GST of 18% is applicable on life insurance effective from the 1st of July, 2017

     4.0 / 5.0   by 557 users
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    Max Life Group Super Life Premier Plan Reviews

    Page 1 of 28 1 2 3 4 5
    • Max Life Insurance
      "Good"
      0.5 4.0/5 "Great!"
      I have taken a term insurance in MAX LIFE INSURANCE 2 years before. The policy is for 40 years. Now I am paying premium in the monthly package. While getting a policy my agent has given an information about the policy details. I use to do payments through an online. The policy coverage up to myself.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 14, 2019
    • Max
      Max Life Insurance
      "Pretty Good Policy"
      0.5 4.0/5 "Great!"
      I pay the premium amount of Rs. 50000 every year. Total term period is 12 years. I took the life insurance policy from Met LIFE. Once the maturity is over, i will get Rs. 6000 for every month for the next 10 years. This is a fixed value with guaranteed along with that 4% or 5% appreciation amount i will get which is an optional one. I make the premium through online.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 14, 2019
    • Max Life Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I have taken life Insurance through Max life it is a Maturity benefit policy is for the tenure of 15years .The premium is paid online ,The premium is amount is Rs. 36000.The premium is paid on yearly basis ,policy is still active and the agent gave all the relevant details about the policy .
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Jun 07, 2019
    • Max Life Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I have taken Life Insurance policy through Max Life directly This is a maturity policy is for the tenure of 10 years ,The premium is monthly basis,premium is very nominal ,The premium paid was yearly and then i have changed it as now monthly basis , Axis bank referred this Max life policy .I have received the policy documents on time.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 02, 2019
    • Max Life Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I have taken Life Insurance policy through Max Life Insurance company directly.This is a maturity policy ,it is for the tenure 15years ,premium is very nominal ,policy documents got on time ,it will be closed after 15years.I have got all the required information about the policy .This policy is very useful .
      Was this review helpful? 1
      , bangalore
      Reviewed on Jun 02, 2019
    • Max Life Insurance
      "Good Service"
      0.5 2.0/5 "Expected more"
      I have taken Life insurance policy directly taken through Max Life Insurance company .The agent gave all information about the life insurance through the agent ,it is for the tenure of 8years ,The premium is paid through online ,premium is very nominal policy documents received on time ,The agent gave all the details .so far not faced any difficulties , I have closed this policy .
      Was this review helpful? 0
      , bangalore
      Reviewed on May 30, 2019
    • Max Life Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I have taken Max Life insurance year policy through Online ,it is valid till age 50 years and i need to pay till 60years ,policy documents got on time ,The agent gave all information about the policy .The payment is done through online and using credit card for making the payment.
      Was this review helpful? 0
      , mumbai
      Reviewed on May 29, 2019
    • Max Life Insurance
      "Better"
      0.5 4.0/5 "Great!"
      I have been paying the premium recently with MAX LIFE for the term plan. The premium is good and they are providing better benefits than other insurer. The customer service is good. I make monthly premium of Rs.1900 through online. They have explained about the policy well.
      Was this review helpful? 0
      , jaipur
      Reviewed on May 29, 2019
    • Max Life Insurance
      "GOOD"
      0.5 3.0/5 "Satisfactory"
      I have purchased the life insurance policy with the MAX LIFE INSURANCE where using it since from last 3 years the policy has the coverage for self and i have purchased the pension plan with this policy. The customer support is good also it is a good policy to use.
      Was this review helpful? 0
      , mumbai
      Reviewed on May 28, 2019
    • Max Life Insurance
      "Good"
      0.5 4.0/5 "Great!"
      I have taken a life insurance in MAX LIFE INSURANCE for the past 3 years ago. The policy is for 30 years. Now I am paying premium in the yearly package. While getting a policy my agent has given an information about the policy details and provided hard copy documents as well. I use to do payments through an agent. The coverage up to myself.
      Was this review helpful? 0
      , jaipur
      Reviewed on May 26, 2019
    • Max Life Insurance
      "Good"
      0.5 4.0/5 "Great!"
      I have taken a life insurance in MAX LIFE INSURANCE. The policy is for 20 years. Now I am paying premium in the yearly package. While getting a policy my agent has given an information about the policy details. The coverage for my whole family members. Through an online I used to payments.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 24, 2019
    • Max Life Insurance
      "Best way to protect the family"
      0.5 5.0/5 "Blown Away!"
      I have term plan with Max life, per month I make Rs. 1900 it has term upto 50 years old, the sum assured for Rs. 1 crore to protect my family. I checked the claim settlement and grievance resolved ratio its good. They need improvement on support remain all fine, they do have waiver on the critical illness and disability.
      Was this review helpful? 0
      , pune
      Reviewed on May 21, 2019
    • Max Life Insurance
      "GOOD"
      0.5 4.0/5 "Great!"
      I have purchased the life insurance policy with the MAX LIFE INSURANCE where the policy has the maturity period of 25 years also the coverage is for self. The premium paying for yearly once added on that i am using it since from last 1-15 years policy.
      Was this review helpful? 0
      , new delhi
      Reviewed on May 20, 2019
    • Max Life Insurance
      "GOOD"
      0.5 4.0/5 "Great!"
      MAX LIFE INSURANCE is the insurance company where i am holding the ENDOWMENT POLICY since from last 10 years the policy has the coverage for self and the policy has the maturity period of 20 years. The documentation process was simple and good.
      Was this review helpful? 0
      , new delhi
      Reviewed on May 20, 2019
    • Max Life Insurance
      "GOOD"
      0.5 4.0/5 "Great!"
      I am using from last 1 year the life insurance with the MAX LIFE INSURANCE documentation process was done through the online. The customer support explained the policy details. The maturity period is for 25 years and paying the premium yearly once, coverage for self. It has the coverage of little premium higher with disability.
      Was this review helpful? 0
      , kolkata
      Reviewed on May 19, 2019
    • Max Life Insurance
      "Good flexible investment"
      0.5 5.0/5 "Blown Away!"
      Its some thing like a money back plan, I need to pay the premium for six year then Max Life will provide the bonus interest hence its so flexible for me. I make the premium around Rs. 52,000 per annum and its really good for the tax saving and life coverage.
      Was this review helpful? 0
      , gurgaon
      Reviewed on May 15, 2019
    • Max Life Insurance
      "GOOD"
      0.5 4.5/5 "Excellent!"
      I have purchased the life insurance policy with the MAX LIFE INSURANCE where the maturity period of this policy is for 20 years also the policy coverage is for self. The premium paying for yearly once added on that the policy has the life coverage.
      Was this review helpful? 0
      , pune
      Reviewed on May 13, 2019
    • Max Life Insurance
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      I am using the life insurance policy with the MAX LIFE INSURANCE where the where the policy has the coverage for family added on that the maturity has the long term plan and it is has the life coverage also the accidental coverage with this policy.
      Was this review helpful? 0
      , kolkata
      Reviewed on May 10, 2019
    • Max Life Insurance
      "NOT SATISFIED"
      0.5 1.0/5 "Really Bad"
      It is not good the life insurance with the MAX LIFE INSURANCE because the premium not paid with this policy and asked for closing then they have given return money after detecting the one month premium. It is the child plan. Maturity period is for 16 years. I am using from last more than 7-8 yeras.
      Was this review helpful? 0
      , new delhi
      Reviewed on May 08, 2019
    • Max Life Insurance
      "BETTER"
      0.5 3.0/5 "Satisfactory"
      I have purchase the EULIP PLAN with the MAX LIFE INSURANCE where i am using it since from last 10 years the maturity period of this policy is for 10 years and i got the policy matured and sot the sum assured too, The premium paid was yearly once with this policy.
      Was this review helpful? 0
      , new delhi
      Reviewed on Apr 29, 2019
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