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  • Max Life Term Insurance

     4.0 / 5.0   by 495 users
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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 25 1 2 3 4 5
    • 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? 1
      , 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? 3
      , 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
    • Max Life Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I've a life insurance policy with the Max. I am paying a premium of 53000 Per year, myself. I paid the first premium via cheque and I am planning to pay the remaining premium via ECS. So far there hasn't been any issue with their services.
      Was this review helpful? 0
      , new delhi
      Reviewed on Aug 23, 2018
    • Max Life Insurance
      "Satisfactory"
      0.5 4.0/5 "Great!"
      I have taken my life insurance with Max Life. The customer services and response is good. The tenure is for 20 years. I would get the benefits after the maturity term. I am happy with the benefits and sum assured. I pay a premium of 7500 on a yearly basis and I pay it by cash.
      Was this review helpful? 1
      , ghaziabad
      Reviewed on Aug 23, 2018
    • Max Life Insurance
      "Good Service"
      0.5 3.5/5 "Pretty good"
      I've a life insurance policy with the Max Life. I am paying a premium of 17000 per annum for a sum assured of 1 Crore. It has not got any other additional benefits. So far there hasn't been any issues with the policy and their services.
      Was this review helpful? 2
      , new delhi
      Reviewed on Aug 13, 2018
    • Max Life Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I've a life insurance policy with the Max Life. I am paying the premium sometimes offline and sometimes online. I am paying a premium of 15000 per year. So far it has been a hassle free experience with the policy. It do not have any kind of money back or any other commendable features.
      Was this review helpful? 0
      , kochi
      Reviewed on Jul 27, 2018
    • Max Life Insurance
      "Poor Service"
      0.5 1.0/5 "Really Bad"
      I was having a Life insurance policy with the Max Life. I closed the policy, they're not good at all. They have more hidden terms and conditions which were not revealed to me while purchasing the policy. It has been a very bad decision choosing to got with the Max Life.
      Was this review helpful? 4
      , mumbai
      Reviewed on Jul 27, 2018
    • Max Life Insurance
      "Good Term insurance policy"
      0.5 4.0/5 "Great!"
      I have been holding this policy for last 10 years. I have to pay around Rs. 21000 per annum. Its a term insurance. I have to pay the premium for life time. They have given me a sum assured amount of 1 crore. I will do the payment through online banking.
      Was this review helpful? 2
      , thane
      Reviewed on Jul 25, 2018
    • Max Life Insurance
      "Average policy"
      0.5 3.0/5 "Satisfactory"
      I have taken a new policy is 1.5 months back. I have to pay the premium of 1 lakhs per year. I have to pay the 1 lakhs for first fie year then i can go upto 10 years i want to continues. Its market based policy. I will get a bonus points and interest. I will get a average amount of 8 lakhs after 6 years depends on the market value. I don't know much about this policy. I don't receive any notification from Max life regarding the insurance.
      Was this review helpful? 2
      , mumbai
      Reviewed on Jul 23, 2018
    • Max Life Insurance
      "Useless policy"
      0.5 2.5/5 "Just OK"
      I have paid 7 years and i have redeem the amount. Its a market related policy. When i went for the maturity they said for 20 years. Whatever the amount i have deposit the same only i have got when i withdraw the money in 6 month. I have paid the premium amount of Rs. 25000 annually. I paid for 6 years. I don't need to pay any money after 6 years. There are no much benefits in this policy.
      Was this review helpful? 1
      , mumbai
      Reviewed on Jul 23, 2018
    • Max Life Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I've a life insurance policy with the Max Life. I am premium 30K per year, the tenure 15 years, it offers accidental coverage also. Many of my friends recommended me this policy. So far it has been a very good experience with the policy.
      Was this review helpful? 1
      , kolkata
      Reviewed on Jul 16, 2018
    • Max Life Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I've been using the Max Life Life insurance policy for a while I am paying quarterly premium of 4000, the sum assure din 1.5 lacs. It also provides accidental coverage. After 20 years I will get full money paid with out any interest and they're also flexible with due date for the premium payments.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 06, 2018
    • Max Life Insurance
      "MAX LIFE IS FRAUD"
      0.5 0.5/5 "Unacceptable"
      MAX LIFE INSURANCE POLICY NO. 508411097. Made by Axis Bank, Bidhannagar branch, Durgapur. By Mrs. Baishakhi Pal Kundu (mob. no. : 8972923749 and Mr. Subhasish (8001901023) Dear Sir/Madam, I had a blind faith to Baisakhi Madam. I agreed for investment on her request. As she is of AXIS Bank, I thought investment will be in Axis Bank only. It was my out of expectation for max life insurance. Complained and returned to the same branch immediately after getting the policy. I don't know how it is returned to max life office after 15 days. It is seems to be done intensely by the axis bank branch. I have recorded voice of both the above persons for all the conversations made in between. I can go to any extent to get back my money. I will register this type of complains on regular basis till I get back my money. Ishould get the total amount with GST as told by them. Thanking you. Sanjay Kumar Kar. Mob. No. 9332251311 Mail id. sanja.kar@gmail.com
      Was this review helpful? 4
      , durgapur
      Reviewed on Jul 01, 2018
    • 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
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