• Max Life Term Insurance

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    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 70 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 23 1 2 3 4 5
    • Max Life Insurance
      "Good Insurance"
      0.5 5.0/5 "Blown Away!"
      Like all my Life Insurance even this is a Money Back plan. Every 3 years I will be getting a cashback and at the end of term I would be getting a lumpsome amount. I have been paying Rs.15000 as a premium for this Insurance. Customer service of them is pretty good.
      Was this review helpful? 0
      , mumbai
      Reviewed on Feb 16, 2018
    • Max Life Insurance
      "Good Investment"
      0.5 4.0/5 "Great!"
      I have taken a policy in this Insurance wherein I would be getting a return at the end of my whole term. I have been paying Rs.25000 as an annual premium for this insurance. The payment is directly linked to my account through ECS. The return expected is around 8%.
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 16, 2018
    • Max Life Insurance
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      The service is good with Max Life insurance team ,I have taken three policy's with Max. The staffs are friendly in approach. The process was been smooth with Max, the policy's was been matured. It is a good experience with Max life insurance service.
      Was this review helpful? 0
      , kolkata
      Reviewed on Feb 14, 2018
    • Max Life Insurance
      "A reasonable policy"
      0.5 5.0/5 "Blown Away!"
      I had personal accident policy from MAX LIFE INSURANCE. The premium is affordable by comparing to other insurers. The customer service is good and well responsive. They will intimate me to renew my accidental policy with in due time. I can recommend their product to my friends and relatives.
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 13, 2018
    • Max Life Insurance
      "An affordable life insurance policy"
      0.5 5.0/5 "Blown Away!"
      I had a life insurance policy from MAX LIFE INSURANCE. I will get all benefits like policy coverage and plan benefits in one policy. I will use the on line payment option to renewal my Life insurance on time. The customer service is good and they are very much responsive too.
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 13, 2018
    • Max Life Insurance
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have taken my life insurance with Max Life by last year. It was taken through online. They offered a good balance and pricing. It is a tenure of 40 years. It is a term insurance covers of 1Crore. The policy coverage and benefits are pretty good. I paid about 15K for year.
      Was this review helpful? 0
      , mumbai
      Reviewed on Feb 12, 2018
    • Max Life Insurance
      "Good policy"
      0.5 4.0/5 "Great!"
      Previously I had a life insurance with Max Life through Axis Bank. It was taken 4 years ago. It was recommended by the Axis Bank representative. I am still paying for this policy, 25K yearly. The policy coverage and benefits are average. The payment mode was easy.
      Was this review helpful? 0
      , kolkata
      Reviewed on Feb 08, 2018
    • Max Life Insurance
      "Good"
      0.5 5.0/5 "Blown Away!"
      I am having the life insurance policy with the Max life insurance company. I would like to say that the customer service is good one with them and the coverage value is also fine with the Max life insurance company.
      Was this review helpful? 0
      , mumbai
      Reviewed on Feb 08, 2018
    • Max Life Insurance
      "Good"
      0.5 4.0/5 "Great!"
      I have a life insurance policy from Max life. The final premium amount that I paid is around Rs. 5000, it is for the period of 4 years. I am satisfied with the policy and their customer service is also good. Rest I am waiting for the maturity then I can comment.
      Was this review helpful? 0
      , pune
      Reviewed on Feb 07, 2018
    • Max Life Insurance
      "Good service"
      0.5 5.0/5 "Blown Away!"
      Around 7 to 8 years ago, I have got the life insurance policy from the MAX LIFE INSURANCE company. This policy has the tenure of 20years. I pay the premium of Rs,12,000 per annum. The customer support and the response is good with the MAX LIFE INSURANCE company.
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 06, 2018
    • Max Life Insurance
      "Good "
      0.5 4.0/5 "Great!"
      I am having the life insurance policy with the MAX life insurance company. I would like to say that the customer service is okay one for me with them. Everything is good one with them and the coverage value is very good one for me with them.
      Was this review helpful? 0
      , jaipur
      Reviewed on Feb 02, 2018
    • Max Life Insurance
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have the max life insurance policy for years. I have been paying the premium amount of Rs.49,000 per year. The plan benefits and the coverage is good with this policy and I am satisfied holding this max life insurance policy. Also I would like to appreciate the response.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 31, 2018
    • Max Life Insurance
      "Good"
      0.5 4.0/5 "Great!"
      I have the max life insurance policy for years. I have been paying the premium amount of Rs.20,000 per year. The plan benefits and the coverage is good with this policy and I am satisfied holding this max life insurance policy. Also I would like to appreciate the response.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 25, 2018
    • Max Life Insurance
      "Good policy to use"
      0.5 5.0/5 "Blown Away!"
      I have the max life insurance policy around 5years ago. This policy has the tenure of 10 to 15years. I pay the premium amount of Rs.20,000 in a year. The plan benefits and the coverage is good with this policy and I am satisfied holding this max life insurance policy.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 24, 2018
    • Max Life Insurance
      "Competitve rates"
      0.5 4.0/5 "Great!"
      I have taken a term insurance with Max life. The main factor I considered taking the policy from them is because they have good competitive rates. The tenure is for 25 or 30 years. The sum assured is for 50 lakhs and this is a pure term policy where the nominee alone gets the benefit. The premium is of 5K on a yearly basis and if I pay 150 extra there is a add on rider that the premium will be waived off in case of a critical illness.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jan 23, 2018
    • Max Life Insurance
      "Good policy"
      0.5 5.0/5 "Blown Away!"
      I had taken Life Insurance with Max Life.I pay a premium of 25,000 annually,payment is done through online.Customer support team respond on time its hassle free.The policy is for 20 years,the policy coverage amount is 10 lakhs,the policy is taken few years back.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jan 23, 2018
    • Max Life Insurance
      "Excellent service"
      0.5 4.5/5 "Excellent!"
      I am having the life insurance policy with the MAX life for the last three years of time. Response is good one for me with them and the customer service is also good. According to the market prospects, I would get the returns according to the ULIP policy basis.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 19, 2018
    • Max Life Insurance
      "Good"
      0.5 3.0/5 "Satisfactory"
      I am having the life insurance policy with the MAX life insurance company and the customer service is pretty good one too. I have not faced any such claims with them. Coverage value is good too with the MAX life insurance company when compared with their market competitors.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jan 18, 2018
    • Max Life Insurance
      "Good One"
      0.5 4.0/5 "Great!"
      I took a LIFE INSURANCE form the MAX LIFE INSURANCE . I took it for 15 years of tenure . It gives me a full cover on any emergency . The Cashless treatment option is also there when it comes to this policy . For this i pay it Yearly . The Customer service is good from the MAX LIFE side . the claim option is very much available with this policy.
      Was this review helpful? 0
      , new delhi
      Reviewed on Dec 29, 2017
    • Max Life Insurance
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      It was a good experience with Max life insurance service ,the documentation part was very smooth they had collected the documents from my door step also they use to update me regarding new schemes and offers it was a good experience with Max life insurance service.
      Was this review helpful? 0
      , bangalore
      Reviewed on Dec 26, 2017
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