"Spending a whole day looking for insurance is fun," said nobody, EVER!

Max Life Online Term Plan Life Cover + Increasing Monthly Income Plan

 4.0 / 5.0   by 516 users
Used this product? Write a review >>

Plan Benefits

Payment Options

Policy Coverage

Customer Service

Responsiveness

Max Life Online Term Plan Life Cover + Increasing Monthly Income Plan can be opted by customers who are above 18 years and below 60 years. The maximum expiry age is 70 years. Under the Max Life Online Term Plan Life Cover + Increasing Monthly Income Plan, the minimum Sum Assured is Rs. 25 lakhs while the maximum Sum Assured is Rs. 100 crore (Sum Assured is available in multiples of Rs. 1 lakh). Customers can choose any term ranging from 10 to 35 years subject to the maximum expiry age. The premium payment term is equal to policy term. Premiums under the plan should be paid on an annual basis. The minimum premium will depend on the minimum sum assured opted 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 unfortunate event of an accident resulting in impairments (as listed in the policy document) or death.

Features of Max Life Online Term Plan Life Cover + Increasing Monthly Income Plan

  • The plan offers an easy online application process with no tedious paperwork. Customers can log on the official website of Max Life Insurance and click on the the Max Life Online Term Plan Life Cover plus Increasing Monthly Income Plan page, wherein they have to fill out the required details, make the payment and upload the required documents.
  • The Max Life Online Term Plan Life Cover plus Increasing Monthly Income Plan comes with a free-look period of 30 days. Customers can review the terms and conditions of the plan within the said period and if dissatisfied, may choose to cancel it, request any minor changes or shift to a different policy.
  • The plan offers high Sum Assured discounts for the benefit of customers.
  • The plan offers low premium rates for non-smokers, offering rewards for a healthy lifestyle.
  • Customers can avail of some tax benefits on premiums.

Eligibility Criteria For Max Life Online Term Plan Life Cover + Monthly Income Plan

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 maturity age 85 years as per last birthday
Sum assured Minimum of Rs. 25 lakhs Maximum Rs. 100 crore (available in multiple of Rs. 1 lakh)
Premium Payment Term Equal to Policy Term
Premium Payment Mode Annual Mode Only

Benefits of Max Life Online Term Plan Life Cover + Increasing Monthly Income Plan

  • Upon the death of the life insured, the nominee will get 100% Sum assured plus monthly income which increases every year for 10 years at 10% simple rate of interest of the first year. The first year monthly income will be 0.4% of the Sum Assured. The total effective death benefit including monthly incomes will be 169.6% of Sum Assured.
  • Customers can opt for additional protection in the form of Max Life Comprehensive Accident Benefit Rider.
  • Max Life Online Term Plan Life Cover plus Increasing Monthly Income Plan is a pure term plan which provides death benefit but no maturity benefit.

Example – How Max Life Online Term Plan Life Cover + Increasing Monthly Income Plan Works

Pramod Kumar, a 35-year-old advertising executive in Hyderabad, opts for a sum assured of Rs. 1 crore for 30 years at an annual premium of Rs. 11,000. As ill-luck would have it, Kumar dies after paying nine premiums. Consequently, his nominee gets Rs. 1 crore Sum Assured in addition to Rs. 40,000 as monthly income, which increases at 10% every year, with effect from the policy anniversary of the demise of Kumar.

Max Life Online Term Plan FAQs

  1. Q. What is the minimum and maximum Sum Assured under the Max Life Online Term Plan Life Cover + Increasing Monthly Income Plan?
  2. A. The minimum Sum Assured is Rs. 25 lakhs while the maximum Sum Assured is Rs. 100 crore.

  3. Q. What is the minimum and maximum entry age under the plan?
  4. A. The minimum entry age under Max Life Online Term Plan Life Cover + Monthly Income is 18 years while the maximum is 60 years.

  5. Q. What is the premium payment mode under the Max Life Online Term Plan Life Cover + Increasing Monthly Income Plan?
  6. A. Premiums under this plan should be paid on an annual basis.

  7. Q. What is the death benefit offered under this plan?
  8. A. Upon the death of the life insured, the nominee will get 100% Sum assured + monthly income which increases every year for 10 years at 10% rate of interest (simple) of the first year. The first year monthly income will be 0.4% of the Sum Assured. The total effective death benefit including monthly incomes will be 169.6% of Sum Assured.

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

Max Life Online Term Plan Life Cover + Increasing Monthly Income Plan Reviews

Page 1 of 26 1 2 3 4 5
  • Max Life Insurance
    "Okay Policy"
    0.5 4.0/5 "Great!"
    I have purchased a term insurance policy from MAX LIFE. I have selected the MAX company because they have higher rating on their claim ratio. I'm really happy about the sum assured amount. Total tenure period is fine. In 2015, i have purchased this policy. I'm really satisfied with the services.
    Was this review helpful? 1
    , new delhi
    Reviewed on Jan 03, 2019
  • Max Life Insurance
    "Too Good policy"
    0.5 5.0/5 "Blown Away!"
    Just recently 5 months back, i have purchased this life insurance policy. I bought the money back policy from Max Life. Total tenure period of the policy is 11 years. There is no particular reason for choosing this policy. I pay the premium amount of Rs. 50000 in a year. I am making the premium through online.
    Was this review helpful? 0
    , new delhi
    Reviewed on Jan 02, 2019
  • Max Life Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have been using my Term insurance with Max life insurance, there service is good, there agent had clearly explain me about the policy, and benefit coverage , and there premium amount they have charged me was nominal, the premium amount is for half yearly basis, i use to pay through off line mode
    Was this review helpful? 1
    , surat
    Reviewed on Dec 30, 2018
  • Max Life Insurance
    "They are good in market"
    0.5 2.0/5 "Expected more"
    I have purchased a life insurance policy in 2012 from Max life. Because of my boss recommendation and reputation of the company, i find the claim ratio was very good hence i chosen same. Max life premium is slight costlier than other. The customers are completely satisfied with their services. They have class set of policies according the premium amount.
    Was this review helpful? 1
    , mumbai
    Reviewed on Dec 29, 2018
  • Max Life Insurance
    "GOOD"
    0.5 4.0/5 "Great!"
    MAX LIFE INSURANCE It is a good policy to access. The maturity period of this policy is for 15 years as it is very good added on that it is the user friendly policy to access. The premium i pay for yearly once with this policy. Also they provide coverage for self.
    Was this review helpful? 1
    , bangalore
    Reviewed on Dec 26, 2018
  • Max Life Insurance
    "GOOD"
    0.5 4.0/5 "Great!"
    The process is very good with the MAX LIFE INSURANCE as i have purchased the life insurance policy with this and also at the beginning the documentation is very good. The maturity period is for 30 years as the premium i pay for monthly once. This give the policy coverage for self.
    Was this review helpful? 0
    , mumbai
    Reviewed on Dec 22, 2018
  • Max Life Insurance
    "Good Policy"
    0.5 3.5/5 "Pretty good"
    I had taken this insurance policy almost five years back and the premium amount has been nominal as well. I have been paying the premium half yearly and the payment method has been simple as well. Their customer care services has also been helpful at times.
    Was this review helpful? 0
    , bangalore
    Reviewed on Dec 17, 2018
  • Max Life Insurance
    "Average service"
    0.5 3.0/5 "Satisfactory"
    I have taken my life insurance policy with Max life insurance, there service is not up to the mark,there is so many confusing ,because of changing of multiple person, there is frequently changing on agent, and there is delay in process, and there is confusing in premium amount.
    Was this review helpful? 0
    , ahmedabad
    Reviewed on Dec 16, 2018
  • Max Life Insurance
    "Good Policy"
    0.5 5.0/5 "Blown Away!"
    I have taken my money policy 2 years ago. I have selected the MAX because of the agent who explained me about the policy details. I pay the premium amount of Rs. 50000 per annum. I don't remember about the sum assured amount. This is the tax benefit policy. I pay the premium through cash in their branch office.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Dec 03, 2018
  • Max Life Insurance
    "Good"
    0.5 5.0/5 "Blown Away!"
    I have a life insurance with Max Life and it was taken through an agent. This is a necessary for me and it was taken for tax benefits. The customer service is good. The policy coverage and plan benefits are fine, it could have been better. I make annual premium of around 30K.
    Was this review helpful? 0
    , chennai
    Reviewed on Nov 30, 2018
  • Max Life Insurance
    "Dissatisfied"
    0.5 1.0/5 "Really Bad"
    Its a fix guaranteed, I Have invested but I could take the capital amount if I cancel that policy. MY bank forced me but its not recommend from my end. The policy which I took its very disappointed, the customer service is good in one call they updated my KYC details. But the policy terms is not good I get my amount on retired age.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Nov 30, 2018
  • Max Life Insurance
    "Good policy"
    0.5 4.0/5 "Great!"
    I have 2 life insurance policies with Max Life Insurance and am using the service for last 10 months. My friend is working in the company so I have taken the policy with them. I am paying the premium yearly 53K plus 24K through online. The policy is good.
    Was this review helpful? 0
    , chandigarh
    Reviewed on Nov 29, 2018
  • Max Life Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have been using my life insurance with Max life insurance, it has been a month only, and they have charged me premium amount up to 50,000 it was nominal for me and it was based on yearly basis , there agent had explain me policy related norms clearly, overall service is good.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Nov 21, 2018
  • Max Life Insurance
    "GOOD SERVICE"
    0.5 5.0/5 "Blown Away!"
    I have taken the life insurance policy with the MAX LIFE INSURANCE since from past 2010 where the tenuity period of this policy is for 20 years also the policy coverage is for self as well as the nominee. The customer service is very good and supportive.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Nov 19, 2018
  • Max Life Insurance
    "GOOD"
    0.5 4.0/5 "Great!"
    My experience with the MAX LIFE INSURANCE is very good and i am using it from past ten years the maturity period is for 15 years where the premium i pay on monthly basis through the offline. This gives the coverage is for self and i am satisfied with this policy.
    Was this review helpful? 1
    , new delhi
    Reviewed on Nov 16, 2018
  • Max Life Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have been holding my Term insurance with Max life insurance, there service they are given me is good, i use to pay premium on yearly bases, and they have charged me up to 21,000 which was nominal for me and the agent had clearly explain about the policy coverage in this insurance, i use to pay premium through off line mode.
    Was this review helpful? 1
    , new delhi
    Reviewed on Nov 16, 2018
  • Max Life Insurance
    "Necessary policy for any human being"
    0.5 4.0/5 "Great!"
    I have taken my term insurance with Max Life Insurance. I have opened this life insurance policy 2 months before and chosen the monthly payment mode. I pay the premium of 1190. They are providing the coverage value of Rs. 75 lakhs. They are covering the accidental benefits of 10 lakhs and partial disability benefits. I can able to utilize the policy upto 75 years.
    Was this review helpful? 1
    , faridabad
    Reviewed on Nov 16, 2018
  • Max Life Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have been holding my Life insurance with Max life insurance , they have many service center near and the process was smooth and there premium they have charge is nominal , i do payment through on line or off line and there agent are very friendly in nature.
    Was this review helpful? 0
    , ahmedabad
    Reviewed on Nov 16, 2018
  • Max Life Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have been using my term insurance with Max life insurance from last 3 month only, i use to pay premium on monthly bases and they have charge premium up to 1500 approximately and i do payment through on line and there overall service is good.
    Was this review helpful? 0
    , mumbai
    Reviewed on Nov 14, 2018
  • Max Life Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    I have taken a personal loan from one bank they have offered me with the MAX LIFE insurance. I ma holding it from past five years where i pay the premium for yearly once through online. The maturity period of this policy is for 15 years and the coverage is for self.
    Was this review helpful? 1
    , bhubaneshwar
    Reviewed on Nov 07, 2018
Common Loader Icon
Page 1 of 26 1 2 3 4 5

Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

reTH65gcmBgCJ7k
This Page is BLOCKED as it is using Iframes.