MAX Life Super Term Plan

A term plan that takes care of your families increasing financial needs when you are around. This plan ensures that your family continues to enjoy financial security and comfortable life style even in your absence. A term plan is one which gives only death benefits and does not provide any benefits on the survival of the policy holder till the end of the policy term.

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Key Features

  • Financial coverage at affordable cost
  • Option to increase sum assured at the rate of 5% every policy anniversary
  • Special premium rates for non-smokers

Benefits

  • Maturity benefit
No maturity benefit is available on this plan.
  • Death benefit
On death of the life insured the sum assured is paid to the nominee. Sum assured as a lump sum amount and 50% of the sum assured as lump sum and the remaining as 0.42% of the sum assured as monthly income.
  • Survival benefit
Starting from the 5th policy anniversary and on every subsequent policy anniversary till maturity, you shall receive a Guaranteed Survival Benefit.

Am I eligible?

PARAMETER MINIMUM MAXIMUM
ENTRY AGE 18 65
POLICY TERM 10 35
AGE OF MATURITY - 75
SUM ASSURED 25,00,000 NO LIMIT
PREMIUM PAYEMENT TERM SAME AS POLICY TERM
PAYMENT TERMS ANNUAL, SEMI-ANNUAL, QUARTERLY, MONTHLY

What if?

  • I am unable to pay on time
A grace period is provided based on the payment frequency. The policy is continued if you make the payment within the time period else the policy is lapsed.
  • I stop the payment
If the premium payment is done for the first three years then death benefit is reduced as a percentage of the premiums paid and maturity benefit is the sum of the premiums paid.
  • I wish to take a loan
Loan options are not available in this policy.

Exclusions

  • If the life assured commits suicide then the money returned will be the amount of the premiums paid.