Max Life Online Term Plan Plus
The Online Term Plan Plus from Max Life Insurance is a term life insurance that you can buy online. It’s a complete protection plan backed with add-on benefits and features. It offers security against 3 life risks – death, dismemberment, and critical illness, such that you can opt for the one as per your needs and requirements.
Max Life Online Term Plan Plus Features
- The plan offers 3 death benefit options – Basic Life Cover, Basic Life Cover + Monthly Income, and Basic Term Life Cover + Increasing Monthly Income.
- The minimum age to buy the plan is 18 years, and the maximum age is 60 years.
- The maximum age for life coverage is 85 years.
- It offers flexibility to choose from regular income payout options and premium payment options – monthly, quarterly, half-yearly, or annually.
- It has the option to add extra cover benefits like premium waiver, accidental death and dismemberment, and critical illness benefit.
- In case a policy gets lapsed, it can be revived within five years of its first unpaid premium.
Details of the 3 different cover options under Max Life Online Term Plan Plus
|Plan Cover Options||Cover Details|
|Basic Life Cover||Along with providing a lump-sum death benefit amount, it gives the option to enhance the insurance cover on crucial milestones like marriage, the birth of a child.
On the payment of extra premium, this option covers up to 40 life-threatening illnesses & disabilities and you can pay till the age of 60 & get coverage till 85 years.
|Basic Life Cover + Monthly Income||Monthly income benefit is paid over and above the base Sum Assured wherein 0.4% of the Sum Assured is paid as fixed monthly income for 10 years.|
|Basic Term Life Cover + Increasing Monthly Income||In this option also monthly income benefit is payable over and above the sum assured. 0.4% of the sum assured is paid every month in the first year and for the rest of the payout period monthly income increases every year by 10%.|
Why should you choose the Max Life Online Term Plan Plus?
- To have comprehensive financial protection for your family.
- To have peace of mind thinking your family is secured in your absence.
- To save taxes under Section 80C, 80D, and 10(10D) under prevailing Income Tax laws.
- To arrange a regular flow of income for your family even when you won’t be with them.
- To financially secure your child’s future with lumpsum payout benefit.