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  • Max Life Platinum Protect II Plan

    The Platinum Protect II Plan from Max Life Insurance Company is a regular pay, non-participating term insurance plan that provides excellent insurance coverage at comparatively very affordable premiums. The plan also offers the insured party the flexibility to choose the coverage required, and the term of coverage – in addition to giving discounts for high sum assured options.

    Key Features of Max Life Platinum Protect II Plan

    • Non-participating regular pay term insurance plan.
    • Flexibility to choose policy term, between:
      • 10 years.
      • 15 years.
      • 20 years.
      • 25 years.
      • 30 years.
    • The premium paying term is equal to the policy term, as this is a regular pay policy.
    • The premium paying mode can be either annual, semi-annual, quarterly, or monthly.
    • The minimum sum assured is Rs.25,00,000.
    • There is no maximum ceiling on the sum assured allowed, but it is subject to underwriting.
    • Adopting a healthy lifestyle can reduce the amount of premium you have to pay, and medical underwriting will determine the underwriting class of the insured party and classify them as under:
      • Preferred non-smoker category.
      • Non-smoker category.
      • Smoker category.

      The rate of premium payable will be determined based on which category the customer falls into.

    • Discounts on premium for female lives insured are available, and the premium payable is calculated based on the female applicant’s current age minus a 3 year setback.
    • Tax benefits as per prevailing tax laws.
    • If premiums are paid for at least 15 years and then discontinued, the Max Life Term plan has a feature that will still keep your dependents covered – called reduced insurance cover.
    • Discounts for higher sum assured options chosen (Rs.50,00,000 and above).

    Benefits of Max Life Platinum Protect II Plan

    1. Death benefit:

      In the unfortunate event of the death of the life insured, his / her dependents will be paid a sum that’s equal to the sum assured chosen under the policy.

    Eligibility Criteria of Max Life Platinum Protect II Plan

    1. Entry age
      • Minimum: 18 years.
      • Maximum: 60 years.
    2. Maturity age
      • The immediate policy anniversary just after the life insured attains the age of 75 years.


    Mr. Babu has a wife and a child, and he is the sole earner in his family. He does his calculations and arrives at the conclusions that a payout of Rs.50,00,000 should be enough to support his family in the case of his untimely demise.

    Mr. Babu chooses a sum assured of Rs.50,00,000 for a policy term of 30 years.

    He pays his premiums regularly, till his death during the policy term – in which case his wife and child will receive the sum assured chosen of Rs.50,00,000.

    If he had paid his premiums regularly for 15 years, and then stopped for a couple of years, and then passed away, his family would be entitled to receive the Reduced Insurance Cover of 25% of the sum assured, which is 25% of Rs.50,00,000 = Rs.12,50,000.

    If Mr. Babu had stopped paying premiums before 15 policy years had passed, and then died, his family would not be entitled to receive any benefit from the company.


    1. How long is the free look period for this plan?

      The free look period for the Max Life Platinum Protect II Plan is 15 days from the date of receipt of policy document.

    2. How long is the grace period for premium payments for this plan?

      There is a grace period of 30 days for all premium paying modes except monthly mode – which has a grace period of 15 days – for the payment of overdue premium.

    3. How can a lapsed policy be revived?

      A policy that lapses can be revived by following these steps:

      • Pay all overdue premium with interest and late fees.
      • Submit a document as evidence of insurability.
      • The case will be reviewed by the company and will be reinstated with the Board’s approved underwriting policy.
      • Lapsed policies will be terminated if they are not revived within 2 years of them lapsing.
    4. Is there a survival or maturity benefit for this policy?

      No, there is no survival or maturity benefit payable under this policy.

    5. Are there any riders available to provide additional coverage under this policy?

      No, there are no riders that can be taken in addition to this policy to add extra coverage against the occurrence of specific incidents or conditions.

      *Please note that all amounts, tenures, repayment requirements, time frames, interest rates, other rates, charges, fees, ceilings, requirements, criteria, features, benefits, exclusions, calculations, ratios, ratings, terms and conditions mentioned above are as of January, 2016, and are subject to change at any time. All banks / NBFCs / insurance providers / financial service providers / companies, etc. mentioned above retain all rights to modify, replace, or add to or subtract from any of the above, in any way, at any time, and at their own discretion. You are requested to reconfirm the same with your chosen bank / company / NBFC / insurance provider / financial service provider, etc. before making any financial commitments.

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

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