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Max Life Online Term Plan Life Cover + Monthly Income

Max Life Online Term Plan Life Cover + Monthly Income 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 Online Term Plan Life Cover + Monthly Income plan, 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 a term from 10 to 35 years (interval of 1 year) subject to maximum expiry age. The premium payment term is equal to policy term. Premiums 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 Life Cover + Monthly Income plan

  • The plan offers an easy online application process with no repetitive and cumbersome paperwork. Customers can log on the official website of Max Life Insurance and click on the Online Term Plan Life Cover + Monthly Income 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 as mentioned in the policy document.
  • Max Life Online Term Plan Life Cover + 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 may choose to cancel it, demand any minor changes or take another policy.
  • Max Life Online Term Plan Life Cover + Monthly Income plan offers high Sum Assured discounts for the benefit of customers.
  • Max Life Online Term Plan Life Cover + Monthly Income plan offers low premium rates for non-smokers, thereby, offering rewards for healthy lifestyles.
  • Under the Max Life Online Term Plan Life Cover + Monthly Income plan, 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)

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

  • Upon death of the life insured, the nominee will get 100% Sum Assured + level monthly income for 10 years, i.e, 100% of the Sum Assured on death + 0.4% of Sum Assured per month for 10 years. The total effective death benefit including monthly incomes is 148% of Sum Assured.
  • Customers can also opt for additional protection such as Max Life Comprehensive Accident Benefit Rider.
  • Max Life Online Term Plan Life Cover + Monthly Income plan provides death benefit and no maturity benefit.

Example – How Max Life Online Term Plan Life Cover + Monthly Income Plan Work?

Aditya Rao, a 33-year-old marketing executive from Pune opts for a sum assured of Rs. 1 crore for 30 years for a premium of Rs. 10,000. Rao dies after nine years. Consequently, his wife (nominee) gets Rs. 1 crore as lump sum in addition to around Rs. 40,000 on a monthly basis for a decade with effect from the policy anniversary after the intimation of the demise of Rao.

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

  1. Q. What is the minimum and maximum Sum Assured under Max Life Online Term Plan Life Cover + 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 Max Life Online Term Plan Life Cover + Monthly Income 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 + Monthly Income plan?
  6. A.Premiums should be paid on an annual basis.

  7. Q. What is the death benefit option under this plan?
  8. A.Upon death of the life insured, the nominee will get 100% Sum Assured + level monthly income for 10 years, i.e, 100% of the Sum Assured on death + 0.4% of Sum Assured per month for 10 years. The total effective death benefit including monthly incomes is 148% of Sum Assured.

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

 4.0 / 5.0   by 584 users
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Max Life Online Term Plan Life Cover + Monthly Income Reviews

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  • 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
    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? 0
    , 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
  • Max Life Insurance
    "Satisfactory"
    0.5 5.0/5 "Blown Away!"
    I have purchased a term plan with MAX LIFE because their claim settlement ratio is high compared to other insurance company and also premium is affordable. Their executive is regularly calling me and helpful too. The payment mode is online.
    Was this review helpful? 0
    , jaipur
    Reviewed on Aug 21, 2019
  • Max Life Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    Taken my life insurance policy from Max life. I am paying the premium amount of Rs. 50000. I did the ECS facility hence the amount will be automatically deducted from my account. I need to pay the premium for 10 years and after 10 years the bonus will get added. Total sum assured amount of the policy is 6 lakhs.
    Was this review helpful? 0
    , bangalore
    Reviewed on Aug 20, 2019
  • Max Life Insurance
    "Satisfactory"
    0.5 5.0/5 "Blown Away!"
    I took a life insurance from Max life because the premium is affordable. I have not used the customer service but heard they are doing good. I am paying 35K yearly through online. The payment mode is convenient and am getting notifications immediately. I took it for savings plan.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Aug 19, 2019
  • Max Life Insurance
    "Good insurer"
    0.5 5.0/5 "Blown Away!"
    I have taken a life insurance with MAX LIFE INSURANCE on 6 months before. The policy is for 38 years. I use to do payment through an online. I am paying premium on monthly package. While getting a policy my agent has given an information about the policy details.
    Was this review helpful? 0
    , pune
    Reviewed on Aug 16, 2019
  • Max Life Insurance
    "Fast and quick policy"
    0.5 4.0/5 "Great!"
    I have just booked the policy through online and i have got my insurance documents within a day to my mail id. They have sent the documents after 10 days. Axis bank had a tie up with Max life thats the reason i opted this policy. I'm satisfied with the coverage value.No medical examination is required.
    Was this review helpful? 0
    , bangalore
    Reviewed on Aug 16, 2019
  • Max Life Insurance
    "Excellent card"
    0.5 4.0/5 "Great!"
    I have purchased a life insurance policy from Max Life through online. I am paying premium of Rs.700 monthly through cash and sometimes online. The customer service is good. The policy coverage is 32L. I need to pay the premium upto age of 60K.
    Was this review helpful? 0
    , bikaner
    Reviewed on Aug 12, 2019
  • Max Life Insurance
    "Good for the family protection"
    0.5 4.0/5 "Great!"
    Reason to select Max life, I found the claim settlement ratio is good around 98% this year. They also providing critical illness waiver, waiver on disability. The customer care is very prompt they shared terms and condition before availing the plan. It has the life cover upto 80 years and premium 60 years. I paid the premium around Rs. 850 per month, I sum assured of Rs. 1 crore, I have option to add nominees, I avoided half of the lum sum amount and they give monthly payment.
    Was this review helpful? 0
    , bangalore
    Reviewed on Aug 11, 2019
  • Max Life Insurance
    "Good Policy"
    0.5 1.0/5 "Really Bad"
    Max insurance is the one of the policy which i have taken the favor of Axis bank for that purpose only i joined in this insurance. They said i can use the policy for cancer treatment also upto 98%. They have deducted the insurance premium from my loan amount. I pay the premium amount of Rs. 5400.
    Was this review helpful? 0
    , thoubal
    Reviewed on Aug 09, 2019
  • Max Life Insurance
    "Good for the nominee's future"
    0.5 4.0/5 "Great!"
    I do have term plan with Max life, I believe the claim settlement ratio is good because my friend have suggested this plan. Premium is comparative in the market, I took the plan has the term of 15 years, its covers upto 60 of my age, I have chosen the sum assured value of Rs. 1 crore, there is no critical illness cover.
    Was this review helpful? 0
    , bangalore
    Reviewed on Aug 05, 2019
  • Max Life Insurance
    "Average Policy"
    0.5 3.0/5 "Satisfactory"
    Its not a user friendly to understand. This is a whole life policy still I'm not understanding the nature of the policy. Its almost 18 years old policy which i started in early2000s. I'm paying the premium amount of Rs. 5000 nearly. They are providing the sum assured amount of Rs. 1.25 lakhs.
    Was this review helpful? 0
    , gurgaon
    Reviewed on Aug 04, 2019
  • Max Life Insurance
    "Less coverage policy"
    0.5 3.0/5 "Satisfactory"
    For my whole life, i have bought the life insurance policy from Max Life. One of the representative frequently approached me to take the policy. I pay the premium amount of Rs. 20450 for the coverage value of Rs. 7 lakhs. I make the premium through the agent.
    Was this review helpful? 0
    , coimbatore
    Reviewed on Aug 02, 2019
  • Max Life Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    I have taken the PENSION PLAN with the MAX LIFE INSURANCE where the policy using it since from last 7 years. The policy has the good benefits and also the premium paying for yearly once with the policy. I have faced with no issues with the policy.
    Was this review helpful? 1
    , new delhi
    Reviewed on Jul 27, 2019
  • Max Life Insurance
    "GOOD"
    0.5 2.0/5 "Expected more"
    I have purchased the term plan with the MAX LIFE INSURANCE where i am using it since from last 7 years. The documentation process was simple and i have submitted it without any hassle process. The premium paying for yearly once with the policy.
    Was this review helpful? 1
    , new delhi
    Reviewed on Jul 27, 2019
  • Max Life Insurance
    "Excellent insurance"
    0.5 5.0/5 "Blown Away!"
    My relation and friend circle chosen the life insurance policy from Max thats the reason i have chosen them. I have been paying the premium amount of Rs. 1 lakh for the annual payment mode. Total term period of the policy is 12 years. Through cheque, i made the premium.
    Was this review helpful? 1
    , pune
    Reviewed on Jul 16, 2019
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