Max Life Online Term Plan Basic Life Cover

Max Life Online Term Plan (basic cover) can be availed of by customers who are above 18 years and below 60 years. The maximum expiry age is 70 years. Under the Max Life Term Plan (basic cover), the minimum Sum Assured is Rs. 25 lakhs while the maximum Sum Assured is Rs. 100 crore. Also, Sum Assured is available in the multiples of Rs. 1 lakh only. Customers can choose terms ranging from 10 to 35 years subject to the maximum expiry age. The premium payment term is equal to policy term. Premium should be paid on an annual basis. The minimum premium will depend on the minimum sum assured chosen by the customer.

Customers can also avail of Max Life Comprehensive Accident Benefit Rider under this term plan. The rider provides additional protection in the event of an accident resulting in impairments (listed) or death.

Features of Max Life Online Term Plan (basic cover)

  • The plan offers an easy online application process sans elaborate paperwork. Customers can log on the official website of Max Life Insurance and click on the Online Term Plan (basic cover) page wherein they have to fill out the required details to get a premium estimate, following which they can make the payment and upload the mandatory documents.
  • Max Life Online Term Plan (basic cover) comes with a free-look period of 30 days. Customers can review the terms and conditions of the policy within the period and choose to return and cancel it, ask for any minor changes or shift to another different policy.
  • Max Life Online Term Plan offers high Sum Assured discounts for the benefit of customers.
  • The plan offers low premium rates for non-smokers, ensuring rewards for healthy lifestyles.
  • Customers can also avail of some tax benefits on premiums.

Benefits of Max Life Online Term Plan (basic cover)

  • Upon death of the life insured, the nominee will get 100% Sum Assured as lumpsum amount
  • Customers have the option to add Max Life Comprehensive Accident Benefit Rider for more coverage.
  • Max Life Online Term Plan (basic cover) provides death benefit only and no maturity benefit.

Eligibility Criteria For Max Life Online Term Plan Basic Life Cover

Criteria

Eligibility

Minimum entry age

18 years as per last birthday

Maximum entry age

60 years as per last birthday

Policy term/duration

Choose from anywhere between 10 to 35 years (with an interval for 1 year) to the maximum of the age expiry

Maximum expiry age

70 years as per last birthday

Sum assured

Minimum of Rs. 25 lakhs
Maximum Rs. 100 crore
(available in multiples of Rs. 1 lakh)

Premium Payment Mode

Annual Mode Only

Minimum Premium

As per the minimum sum assured chosen

Example – How Max Life Online Basic Life Cover Term Plan Helps

Vivek Koduganti, a 32-year-old IT employee from Bangalore opted for a Max Life Online Term Plan (basic cover) for a Sum Assured of Rs. 1 crore for 30 years with an annual premium of Rs. 7,400. Vivek expired after six years. His wife, who was his nominee, got the death benefit of Rs. 1 crore, following which, the policy was terminated.

Max Life Online Term Plan Basic Life Cover FAQs

  1. What is the minimum and maximum Sum Assured under Max Life Online Term Plan (basic cover)?
  2. The minimum Sum Assured is Rs. 25 lakhs while the maximum Sum Assured is Rs. 100 crore.

  3. What is the minimum and maximum entry age under the Max Life Online Term Plan (basic cover)?
  4. The minimum entry age under Max Life Online Term Plan (basic cover) is 18 years, while the maximum is 60 years.

  5. What is the premium payment mode under Max Life Online Term Plan (basic cover)?
  6. Premium should be paid on an annual basis.

  7. Are there any riders offered under Max Life Online Term Plan (basic cover)?
  8. Yes. Customers can opt for Max Life Comprehensive Accident Benefit Rider under this term plan.

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

 4.0 / 5.0   by 598 users
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Plan Benefits

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Max Life Online Term Plan Basic Life Cover Reviews

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  • Max Life Insurance
    "Very bad Service Max Life insurance"
    0.5 0.5/5 "Unacceptable"
    I am very bad experience Maxlife insurance , very poor service , Fake information Information hide ,,................................,................................,..................................................
    Was this review helpful? 0
    , gurgaon
    Reviewed on Jan 09, 2020
  • Max
    Max Life Insurance
    "Good"
    0.5 5.0/5 "Blown Away!"
    I have a life insurance policy from MAX LIFE and i have chosen this policy, because which covers for my life. Recently i have taken this policy and i used to make the premium through online in ECS mode monthly i am paying Rs. 890. This insurance cover Rs. 25 lakhs for accident cover and Rs. 15 lakhs for critical illness and also normally it covers for 50 lakhs.
    Was this review helpful? 0
    , surat
    Reviewed on Jan 06, 2020
  • Max Life Insurance
    "Good"
    0.5 5.0/5 "Blown Away!"
    I have a life insurance policy from MAX LIFE to ensure my life. Recently i have taken this policy and i used to make the premium through online in ECS mode monthly i am paying Rs. 890. This insurance cover 25 lakhs for accident cover and 15 lakhs for critical illness and also normally it covers for 50 lakhs.
    Was this review helpful? 1
    , surat
    Reviewed on Jan 06, 2020
  • Max Life Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    My life was insured with Max Life Insurance but there is no special reason for choosing this company. Based on the agent's explanation about the policy, i have taken it. I have been paying the premium amount of Rs. 18000 per annum. This is a tax benefitable policy. I pay the premium through online.
    Was this review helpful? 0
    , guwahati
    Reviewed on Dec 16, 2019
  • Max Life Insurance
    "Not a correct policy at a current situation"
    0.5 3.0/5 "Satisfactory"
    I had chosen Max Life Insurance policy without any reason. When I want to avail the life insurance policy, they have respond me properly. I bought the policy on 13 years before. They are providing the sum assured amount of Rs. 4.30 lakhs. I have been paying the premium on a monthly basis.
    Was this review helpful? 1
    , coimbatore
    Reviewed on Dec 04, 2019
  • Max Life Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    Laxmi Vilas Bank has offered a life insurance policy from Max Life since they have tied up. I am paying the premium amount of Rs. 15,000 every year. Automatically they deduct the premium amount from my account. They said sum assured amount will be 2.50 L. Total term period of the policy is 8 years.
    Was this review helpful? 0
    , coimbatore
    Reviewed on Nov 05, 2019
  • Max Life Insurance
    "Better"
    0.5 4.0/5 "Great!"
    I have chosen a life insurance policy from Max life which was referred my agent. This policy is going to mature in next year and the tenure is 15years. The benefits are okay but at the period it was good. Sometimes, the executive will call me to check if any issues are there because they have started the payment through the application before 2 to 3years ago.
    Was this review helpful? 0
    , kochi
    Reviewed on Oct 19, 2019
  • Max Life Insurance
    "Good insurer"
    0.5 5.0/5 "Blown Away!"
    I have taken a life insurance in MAX LIFE INSURANCE on 6 years before. The policy is for 50 years. I am paying premium in the yearly package. While getting a policy my agent has given an information about the policy details. It covers up to myself.
    Was this review helpful? 3
    , jaipur
    Reviewed on Oct 03, 2019
  • Max Life Insurance
    "Good"
    0.5 4.0/5 "Great!"
    The reason for selecting Max life is I felt, the benefits are good and convenient for me. The customer service is better. I have taken a 5years policy and the premium was 50K per year. In the 10th year, I will be getting sum assured of 6L which is double the amount what I have paid.
    Was this review helpful? 0
    , kakinada
    Reviewed on Sep 27, 2019
  • Max Life Insurance
    "Good policy for future"
    0.5 4.0/5 "Great!"
    I had chosen my term insurance from Max Life. Since my friend has recommended about the policy i have taken it. I am paying the premium amount of Rs. 6000 every year. They have given me a coverage value of Rs. 50 lakhs. They do provide cover for partial disability cover also.
    Was this review helpful? 0
    , tirunelveli
    Reviewed on Sep 24, 2019
  • Max Life Insurance
    "Good insurer"
    0.5 5.0/5 "Blown Away!"
    I have taken a life insurance in MAX LIFE INSURANCE on 1 year before. The policy is for life term. I am paying premium in the yearly package for 50 thousands. While getting a policy my agent has given an information about the policy details. I visit to office directly to pay the premium amount.
    Was this review helpful? 0
    , anantapur
    Reviewed on Sep 22, 2019
  • Max Life Insurance
    "Good claim settlement ratio and very good service"
    0.5 4.0/5 "Great!"
    I have life insurance with MAX because of the claim settlement ratio around 98.9% . Yearly I make Rs. 52,000 it has the maturity period of 25 years, its a traditional plan, I get around Rs. 22 lakhs overall and it has life coverage if there is no any demise my nominee get the life cover. I do have flexi pay option.
    Was this review helpful? 0
    , sonipat
    Reviewed on Sep 19, 2019
  • Max Life Insurance
    "Need improvement on the benefits"
    0.5 4.0/5 "Great!"
    AXIS bank have recommended Max life insurance comes along with ULIP. I need to invest upto 7 years but the ULIP has the locking period of 12 years, the premium is economical as per the policy. They do have good life cover for the financial security for unforeseen events. It has tax saving under 80c section, I have online credential for max life to check my insurance details and every day I get sms as well. I make the premium on yearly basis through online.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Sep 19, 2019
  • Max Life Insurance
    "Good"
    0.5 4.0/5 "Great!"
    The payment mode is online and making the premium through debit card or credit card. I have taken short term life policy with MAX LIFE. The benefits are good. They have provided me a life cover of 12L with the locking period of 5 years. I have not gone through the documents so cannot tell about this policy much. Their claim settlement rate is good and giving 98.8%.
    Was this review helpful? 0
    , new delhi
    Reviewed on Sep 16, 2019
  • Max Life Insurance
    "Excellent Service"
    0.5 5.0/5 "Blown Away!"
    I have taken Life Insurance policy through Max Life agent .This policy tenure is for 20 years.I am paying the premium through citi bank credit card .The agent gave all the information about the insurance policy .I have received the policy documents on time .This policy is really useful and it is still active .
    Was this review helpful? 0
    , mumbai
    Reviewed on Sep 05, 2019
  • Max Life Insurance
    "Moderate"
    0.5 3.0/5 "Satisfactory"
    I have taken a term plan from MAX LIFE because am employee of Axis Bank and that time have take a term plan of 75L. There is no benefits, just am paying the premium. If any demise happens the family will be getting the benefit. The customer service is average. I am doing online payment and its 7K per year.
    Was this review helpful? 0
    , coimbatore
    Reviewed on Sep 03, 2019
  • Max Life Insurance
    "Good "
    0.5 5.0/5 "Blown Away!"
    I have taken a life insurance with MAX LIFE INSURANCE on 2 years before. The policy is for 15 years and it is gain plan policy. I am paying premium on monthly package. While getting a policy my agent has given an information about the policy details. I use to pay for 2500 rupees.
    Was this review helpful? 0
    , new delhi
    Reviewed on Aug 28, 2019
  • Max Life Insurance
    "Good"
    0.5 4.0/5 "Great!"
    I have chosen MAX LIFE for a life insurance. It is for future savings and life insured cover. I am doing yearly premium of Rs.52,000, it will be automatically debited from my account. I receive a statements from them. The sum assured is 5Lakhs.
    Was this review helpful? 0
    , kolkata
    Reviewed on Aug 26, 2019
  • Max Life Insurance
    "Good for the family protection"
    0.5 4.0/5 "Great!"
    I have one term plan with Max life for the sum assured of Rs. 70 lakhs, yearly I paid Rs. 22,000 for the term of 16 years and the life cover upto 70 years of age. I have option to add only nominee however the claim settlement is good for this insurance company.
    Was this review helpful? 1
    , mumbai
    Reviewed on Aug 24, 2019
  • Max Life Insurance
    "Good Investment"
    0.5 4.0/5 "Great!"
    I am having MAX LIFE which was suggested by their staff, the premium is economical. I used to pay Rs. 50,000 per annum it has the term of 19 years, after the maturity I get the lump sum amount along with the monthly bonus. I got the policy bond from the insurance company.
    Was this review helpful? 0
    , bangalore
    Reviewed on Aug 23, 2019
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