• Max Life Term Insurance

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    Plan Benefits

    Payment Options

    Policy Coverage

    Customer Service

    Responsiveness

    Term insurance plans from Max Life Insurance include a trifecta of policies that are available online as well as offline. While the online plans are completely bereft of messy paperwork, the offline plans can be easily consulted with advisors and all three plans can be availed easily. Tax benefits might be available on the premium amounts paid and the final amount that is achieved as a pay-out as per death benefit. As a trustworthy term insurance policy, this plan can allow the policyholder to avail loans in its lieu. Plans under this category from Max life collectively form the Protection Plans group.

    Types of Max Life Term Plans:

    There are three types of term plans offered by Max Life Insurance and they are -

    1. Max Life Online Term Plan
    2. Max Life Premium Protection Plan
    3. Max Life Super Term Plan
    Max Life Online Term Plan

    An online pure term plan from Max Life Insurance, this plan is available for purchase through the company’s official portal and has three variants. Its basic features are as follows –

    Features

    Description

    Entry Age

    Minimum – 18 years

    Maximum – 60 years

    Maturity Age

    Maximum of 75 years

    Premium

    Minimum – Based on factors chosen by insurer

    Maximum – No limit

    Sum Assured

    Minimum - INR 25 lakhs

    Maximum – INR 100 crores

    Premium Payment Term

    Regular Pay – Premium paid throughout policy term

    Policy Term

    Minimum – 10 years

    Maximum – 35 years

    Premium Payment Mode

    Annual

    Tax Benefit

    Premiums paid – Deduction up to INR 100000 per year as per Section 80C

    Sum Assured on Death – Tax free as per Section 10(10D)

    Death Benefit

    1. Lump sum assured

    2. Sum Assured + Fixed monthly income

    3. Sum Assured + Increasing Monthly Income

    Max Life Premium Return Protection Plan

    A term insurance plan from Max Life that offers to return the premiums paid during the policy period along with providing a comprehensive cover. Mentioned below are the features of this plan –

    Features

    Description

    Entry Age

    Minimum – 21 years

    Maximum

    1. 55 years for 20 year policy term

    2. 50 years for 25 year policy term

    3. 45 years for 30 year policy term

    Maturity Age

    Maximum of 75 years

    Premium

    Minimum – INR 8500

    Maximum – Based on Sum Assured

    Premium Payment Term

    Regular Pay – Premium paid throughout policy term

    Limited Pay – Premium paid for either 5 years or 10 years

    Single Pay – One time lump sum payment of premium

    Policy Term

    20 years, 25 years, 30 years

    Premium Payment Mode

    Annual, semi-annual, quarterly or monthly

    Sum Assured

    Minimum – INR 5 lakhs

    Maximum – INR 1 crore

    Death Benefit

    Higher of 10 times of annualised premium or 105% of total premiums paid

    Maturity Benefit

    Total premiums paid

    Max Life Super Term Plan

    An offline plan that offers pure protection and financial security at very reasonable costs. The plan details are as follows

    Feature

    Description

    Entry Age

    Minimum – 18 years

    Maximum – 65 years

    Maturity Age

    Maximum of 75 years

    Premium

    Minimum – INR 5000

    Maximum – No limit subject to the Sum Assured amount chosen

    Premium Payment Term

    Regular Pay – Premium paid throughout policy term

    Sum Assured

    Minimum – INR 2500000

    Maximum – No limit

    Policy Term

    Minimum – 10 years

    Maximum – 35 years

    Premium Payment Mode

    Annual, semi-annually, quarterly or monthly

    Death Benefit

    Higher of 10 times of annualised premium or 105% of total premiums paid

    Sum Assured Choices

    Either Fixed or Increasing by 5% every policy year without increase in premium

    Basic Features & Benefits of Max Life Term Plans:

    • Low cost of insurance

    • Flexible options in insurance pertaining to term, cover amount and premium payment

    • Special rates for non-smokers and female lives

    • Customers can buy select plans online in the comfort of their homes

    • Customers can avail of certain tax benefits under relevant sections of the IT Act, 1961

    • Some plans can be converted to other plans offered by Max Life

    Max Life Term Plans FAQs:

    1. Q. What are the various types of Max Life Term Plans?

    A. The three types of term plans are Online Term Plan, Premium Return Protection Plan and Super Term Plan.

    2. Q. What are the various benefits available under the plans from Max Life?

    A. Each term plan from Max Life has differing death benefits and add-on benefits as per the riders chosen, but the basic benefits allow a pay-out of sum assured either in a lump sum amount or a staggered manner. Additionally, one can also change the cover amount.

    3. Q. What is the minimum sum assured for Max Life Term Plans?

    A. The minimum sum assured under the various term plans from Max Life is INR 500000 and that is available under the Premium Return Protection plan.

    4. Q. What is the maximum and minimum policy term available under these plans?

    A. Max Life term plans have a minimum policy term of 10 years and a maximum term of 35 years, subject to the entry age and the maturity age of the life insured.

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

    Max Life Term Insurance Reviews

  • Page 1 of 24 1 2 3 4 5
    • Max Life Insurance
      "BEST"
      0.5 5.0/5 "Blown Away!"
      It is a term insurance that i am using from the max. I am using since 1 year. The documentation i have done it through the on line. Payment i do through the on line for yearly once. Premium is very normal when compared to the others. The tenuity is for 40 years.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jun 23, 2018
    • Max Life Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I've a life insurance policy with the Max Life and I pay a premium of 600 per Month, I make payments online and the sum assured is 1 Crore. My friend is an agent and never faced any issues with their service so far. Overall it has been a hassle free experience with them.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 20, 2018
    • Max Life Insurance
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      I have been using since 5 years. I am very happy by using the MAX LIFE INSURANCE. i had a excellent experience with the life insurance. The tenuity period is for 10 years and it is a short term policy from life insurance. I have been using because i am happy holding this insurance policy.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Jun 20, 2018
    • Max Life Insurance
      "Poor Service"
      0.5 1.0/5 "Really Bad"
      I've a health insurance policy with the Max Life. Their Email support was not responsive. Office staff were also unable to help. The agent misinformed me about the details of the policy. I was told that I was able to cancel the policy with in 15 days which couldn't be done and I am not at all happy with the services.
      Was this review helpful? 0
      , lucknow
      Reviewed on Jun 16, 2018
    • Max Life Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I've been using the Life insurance policy from the Max Life. I pay a premium of 25000 per years, They got connection with the Axis bank so I pay the premium via ECS and the premium amount gets auto debited from the account.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 12, 2018
    • Max Life Insurance
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I am having the life insurance policy with the MAX life insurance company and the customer service is good one. I would like to say that the response is good and am really happy with them till now. Everything is up to the mark with the MAX life insurance company.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 08, 2018
    • Max Life Insurance
      "Good Service"
      0.5 3.0/5 "Satisfactory"
      I've a life insurance policy from the Max Life. I pay premium of 12000 per annum, I chose this policy for tax savings purposes and after the tenure they will be paying a lump sum payout of 1 crore. Overall the features and benefits of the policy is good.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 07, 2018
    • Max Life Insurance
      "Excellent Term Insurance"
      0.5 5.0/5 "Blown Away!"
      Ride facility is available. Low premium for the customer. I never compared the benefits from the other companies. I choose this policy for the tax benefits. I used to make the payment annually. They are giving the sum assured amount of Rs. 1 Cr. and i used to the pay the premium of Rs 15000. Add on service and medi-claim is there in this policy. Medical benefits are available. After policy, we can claim the policy for medical benefits.
      Was this review helpful? 0
      , chennai
      Reviewed on May 28, 2018
    • Max Life Insurance
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      I have a life insurance policy with the Max Life insurance company. I pay a premium of 40000 per year, the premium gets auto debited from my account. The customer support services are also good.
      Was this review helpful? 0
      , mumbai
      Reviewed on May 25, 2018
    • Max Life Insurance
      "Better policy to use"
      0.5 4.0/5 "Great!"
      Got the life insurance policy from the MAX LIFE around 10 years ago. This policy has the tenure of 20years. The premium amount of Rs,24,000 every year. The plan benefits and the coverage is good with this policy. I pay the premium through ECS.
      Was this review helpful? 0
      , tiruchirapalli
      Reviewed on May 18, 2018
    • Max Life Insurance
      "Average Service"
      0.5 4.0/5 "Great!"
      I have a life insurance policy from Max Life and the services of their agents are not up to the mark. I pay premium of 3500 per year and this is a small policy. Their services are not so good nowadays. Overall I never had any issues with the policy and their services.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on May 09, 2018
    • Max Life Insurance
      "BEST"
      0.5 4.0/5 "Great!"
      MAX life insurance is very good really i like so much.It is a excellent one. Mine is a long term policy and also short term policy too. Payment i pay for my insurance is through online.
      Was this review helpful? 0
      , new delhi
      Reviewed on May 07, 2018
    • Max Life Insurance
      "Very good policy to use"
      0.5 5.0/5 "Blown Away!"
      I have got the life insurance policy from the MAX LIFE INSURANCE company around 6 months ago. The customer support service is good with the MAX LIFE INSURANCE, they give good response to the customers. This policy has the tenure of 25years. The premium amount of Rs,25,000 need to be paid to this policy in every year once. I have to pay the premium amount up to 12years and the remaining tenure will be paid by the bank.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 02, 2018
    • Max Life Insurance
      "Better policy to use"
      0.5 4.5/5 "Excellent!"
      I have got the life insurance policy from the max life around 4 years ago. The customer support service is good with the MAX life , they give response to the customers. This policy has the tenure of 15years. This policy has the premium amount of Rs.12,000 annually. The plan benefits and the coverage is good with this policy.
      Was this review helpful? 0
      , chennai
      Reviewed on Apr 30, 2018
    • Max Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a life insurance policy with LIC from last 1 year and it is a long term policy. The tenure of this insurance policy is 40 years. I pay my premium once in a year by credit card and sometimes through net banking, I am happy with the coverage value of this insurance policy.
      Was this review helpful? 0
      , mumbai
      Reviewed on Apr 26, 2018
    • Max Life Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I have a life insurance policy with MAX Life from last 15 years, i make my premium payments once in 6 months through net banking and i am convenient with the payment options. The coverage value of this insurance policy is good. The maturity period of this insurance is after 20 years.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 25, 2018
    • Max Life Insurance
      "Good Policy"
      0.5 3.0/5 "Satisfactory"
      I have a Max life insurance from last 3-4 years and it is a good insurance policy to use. I make premium payments on annual basis through net banking. The coverage and returns of this policy is satisfactory. This policy will get matured after 15 years for this insurance company.
      Was this review helpful? 0
      , new delhi
      Reviewed on Apr 17, 2018
    • Max Life Insurance
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I got the life insurance policy from the MAX LIFE INSURANCE company around 6 years ago. I have bough this policy for my daughter,. This policy has the validity got the next 3 months. The plan benefits and he coverage s are good with the Plan benefits. I pay Rs,600 as the premium amount on month on month.
      Was this review helpful? 0
      , vijayawada
      Reviewed on Apr 16, 2018
    • Max Life Insurance
      "Good policy to use"
      0.5 5.0/5 "Blown Away!"
      Got the money back life insurance policy from the MAX LIFE INSURANCE company around 8 years ago. The customer support service and the response is good here. This policy has the tenure of 10years. The plan benefits and the policy coverage is good with this policy.
      Was this review helpful? 0
      , vijayawada
      Reviewed on Apr 16, 2018
    • Max Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I hold a life insurance policy with Max life from last 1 year and it is a good insurance policy to use. I have to pay the premium for first 15 years on annual basis by cheque. I am convenient with the payment options which they are giving. I will get the maturity amount after 25 years and i am happy with the returns.
      Was this review helpful? 0
      , mumbai
      Reviewed on Apr 05, 2018
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