Max Life Insurance offers flexible and affordable online term plans with high coverage options, ranging from basic life cover to plans with monthly income benefits. These plans are easy to purchase online, providing convenience and lower premiums, especially for non-smokers.
Max Life Insurance is one of the most prominent life insurance providers in India. With a claim settlement ratio of over 90%, the company has an immense customer base which has been growing steadily over the past few years.
It was formed as a joint venture between Max India and the Japanese insurance company Mitsui Sumitomo Insurance Group Holdings Inc, which is a part of the insurance giant MS&AD Insurance Group Holdings, Inc.
Of the many insurance products offered by the company, one of the most popular products are the, which allow customers to buy a term insurance plan online.
Example
Arun is 34 years old, married with one child. He has to travel a lot for work. If something were to happen to him, his family won't survive long on their minimal savings. He decides to buy the Basic Life Cover plan and chooses a cover of Rs.2 crore for 10 years. He also adds on the accident benefits rider worth and additional Rs.71 lakhs. Now, in case something happens to him, his family will get 2.7 crores all for a premium of Rs.19, 473.
Example
Parul had taken a life cover and monthly income plan for 15 years. She chose a cover of Rs.3 crores for which she paid a premium of about Rs.31,500. When she passed away, because the policy was still in effect, her family was paid a lump sum amount of Rs.3 crore and for the next 10 years they receive a monthly amount of Rs.1.2 lakhs per month.
This is a term insurance plans that can be bought online and offers the policyholder a life insurance cover and a monthly income facility for the beneficiary for 10 years after the policyholder's death.
Example
Govind, a father of two, passed away a few years after taking a life cover with increasing monthly income for a premium of about Rs.37,800. The death benefits paid to his family was the sum assured of Rs.3 crore with a monthly income of Rs.1.2 lakhs for the next 10 years. This monthly income increases every year by 10% (simple interest) per annum, on the first year's monthly income.
The main reasons why anyone should buy the Max Life online term plans is because
Before buying an online term plan, make a decision on what benefits you want to be paid to your beneficiary. You can have benefits paid as a lump sum or a lump sum plus a monthly income so in case the beneficiary is economically dependent on its best to go in for a term plan plus monthly income. It is also a good idea to add an accidental death benefits rider as that will provide enhanced cover in case death occurs in an accident.
Other Max Life Insurance Plans
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