MAX Life Online Term Plan Basic Life Cover Increasing Monthly Income

A term plan that protects your family when you are not around and takes care of your families increasing financial needs. As expenses are bound to increase it secures your family’s dreams at all times. 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
  • Avoids tedious paper work
  • Special premium rates for non-smokers

Benefits

  • Maturity benefit
No maturity benefit is available on this policy.
  • Death benefit
Sum assured plus increasing monthly income, On death of the life insured 100% of the sum assured is given to the nominee and an additional benefit of increasing monthly income at the rate of 10% will be provided to the nominee.

Add-ons

  • Rider benefit
  • MAX life comprehensive accident benefit rider
  • MAX life waiver of premium plus rider

    • Am I eligible?

    PARAMETER MINIMUM MAXIMUM
    ENTRY AGE 18 60
    POLICY TERM 10 35
    AGE OF MATURITY - 70
    SUM ASSURED 25,00,000 1,00,00,00,000
    PREMIUM PAYEMENT TERM SAME AS POLICY TERM
    PAYMENT TERMS ANNUAL

    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
    The policy will be lapsed and no benefits can be availed on the death of the life insured.
    • I wish to take a loan
    Loan options are not available in this policy.

    Exclusions

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