Max Life Smart Term Plan

Who Should Buy Max Life Smart Term Plan?
Max Life Smart Term Plan is a flexible plan that caters to people from different walks of life and age groups. Therefore, you can customize your insurance coverage by choosing the desired benefits accordingly. If you are earning, you should buy a term insurance plan to support your family's financial future.

How to Buy Max Life Smart Term Plan - Max Life Insurance
1
If you are single
Your parents may depend on you for financial support, especially after their retirement. You need term insurance to support their regular expenses in your absence.
2
If you are married with no kids
Your spouse may have no one else but you, to look for financial support. Thus, it becomes crucial that you create a backup plan to secure his/her future in your absence.
3
If you are married and have kids
Being a parent, you take care of your kid's education and marriage expenses, besides supporting your spouse's expenses. A term plan will support your family in maintaining their current lifestyle, even in your absence.
Key Features of Max Life Smart Term Plan
Multiple Death Benefit Options
Seven different variants for the death benefit payout
Multiple Payment Options
Single Pay, Regular Pay, Pay till 60 and Limited pay option Limited Pay options are available for premium payment
Option to Return Your Policy
Freelook period of 15 days
Long Term Coverage
Life cover assurance up to 85 years
Customer Discount
5% loyalty discount for existing policyholders. Avail the discount if your policy is in premium paying stage or Paid-up stage
Coverage for Smokers too
Coverage for smokers and non smokers with lower rates for non-smokers**
Unique Case of Max Life Smart Term Plan - Max Life Insurance
What is a Smart Term Plan?
Max Life Smart Term Plan is a customizable term plan that offers comprehensive protection against critical illness, disability, and death. This term plan provides 360-degree financial protection to your family in your absence.
EXAMPLE:
A 24 year old Healthy, non-smoking male can secure a cover of Rs.
1 crore for his dependents for next 25 years, @537 per month

Return of premium upon surviving the policy term under base policy*
Comprehensive protection against 40 critical illnesses, including kidney failure, heart attack and cancer
Limited premium payment options such as limited pay, regular pay and pay till 60
Flexible premium payment options as per your budget
Option to increase insurance coverage upon achieving important milestones in life
Significant tax benefits under Section 80C, 80D and 10(10D) of income tax act 1961
Multiple death benefit payout options including increasing monthly income and lump sum payouts
Additional benefits in the form of riders such as Accidental Cover
What Do You Get From Max Life Smart Term Plan?
Every individual has different needs life. Whether it is about protecting their child's future or making sure that they can repay their home loan, people have varied expectations with term life insurance. Max Life Smart Term Plan offers a plethora of life insurance benefits and policy variants to choose from. The plan helps each policyholder to create their personalized all-around protection through term insurance. Here are a few reasons why you must buy Max Life Smart Term Plan
Premium Returned upon Maturity
Longer Duration
Immediate Financial Assistance on Diagnosis of Critical Illnesses (Accelerated Payout)
Choice of multiple Premium Payment Options
Life Stage Benefits
Comprehensive Death Benefit Variants
In general, term insurance plans do not have a maturity value; these plans protect your family's financial future in case of an eventuality. However, Max Life Smart Term Plan has an option of return of premium.

In other words, if you survive throughout the policy term, you will be eligible to receive the 100% of the Total Premiums Paid* plus underwriting extra premiums, if any, under the base policy only. After that, the policy will terminate.

The Premium Back feature is available under all the death benefit payout options, so there is no need to panic. You can create a personalized term insurance plan and then, avail the maturity benefit after surviving the policy term.

Please note, any additional premium amounts charged for optional benefits such as accelerated critical Illness benefit, accident cover option or rider add-ons will not be a part of the benefit (return of premium) that you will receive upon maturity.

*"Total Premiums Paid " means total of all the premiums received, excluding any extra premium, any rider premium and taxes

How do the death benefit variants work out for you?
Let us understand the working of each death benefit variant in detail.
Variant #1 - Life Cover
Variant #2 - Income Protector
Variant #3 - Inflation + Income Protector
Variant #4 - Life Cover + Income
Variant #5 - Life Cover + Increasing Income
Variant #6 - Increasing Cover
Variant #7 - Reducing Cover
Under this variant, your nominated family member (or nominee) will receive 100% of the insurance benefit (or Sum Assured) that you chose at the time of purchasing the policy.

The amount will be paid out as a lump sum, immediately after your demise.

Example : Anant is a 30-year old marketing analyst. He purchases the Max Life Smart Term Plan Life Cover Variant. The policy details are as follows:

Death Benefit variant

Life Cover

Sum Assured

Rs. 1 crore

Policy Term

40 years

Premium Payment Term

40 years

Annualized Premium##

(Exclusive of GST)

Rs.10,000

Thus, after paying 7 premiums, he passes away. Subsequently, his nominee receives a lump sum benefit of Rs. 1 crore and the policy terminates.

Smart Term Plan Infogrpahic Life Cover

ARN NO: PCP/STP8

*A 24 year old Healthy, non-smoking male can secure a cover of Rs. 1 crore for his dependents for next 25 years, @537 per month, exclusive of taxes

## Annualized Premium shall be the premium amount payable in a year chosen by the policyholder, excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any
Term Insurance FAQs
1. How do term insurance plans work?

2. What is the right age to buy a term insurance plan?

3. How do I decide which plan variant is best suitable for me?

4. Are riders important? Which one should I opt for?

5. Can I have two Term Plans?

6. What is Term Insurance Plan?

7. How to buy Online Term Plan?

8. Does term insurance cover health coverage?

9. How Term Plan Gives Monthly Income?

11. Why best term plan for parents

12. What payout options are available in this term plan

What Our Clients Say

Most Popular Articles !
Top term insurance myths - Know the truth !
Having a conversation about death is very uncomfortable and unthinkable, one of the main reasons why people procrastinate or avoid shopping for life insurance products. Other myths that people have due to low awareness of this category are - Life insurance is not affordable, I am Single, I don't need life insurance, It's for older people, It's only for earning members of the family and many more. This article tackles some of the most common but major misconceptions and myths about Life Insurance!

Is term insurance is an investment or an expense?
Term insurance plans are not an expense but a safety net that no other financial product can give and a wise financial decision. A term plan pays the promised money in case of the policyholder's demise, any time during the entire policy term. This means that even if he dies after paying a single premium, the entire sum assured will be given to the nominee. Additionally, you can also save tax. This article helps you understand the benefits of a owing a term plan.

How to Evaluate a Term Insurance Quote
Term plans is the simplest form of protection plans which is easy to understand and is highly cost-effective. You start your purchase journey by calculating a premium quote. For the same person, you may get different quote amount from different companies. This is because there are many factors involved like change in base premiums, rider costs, tax component, lapse charges etc. This article helps you understand the factors so that you can make a smart buy.

Maximize Term Insurance Benefits with Riders
Riders are add-on benefits that are optional with a life insurance product. This helps you customize the plan basis your personal needs. Few critical and powerful riders that you must definitely consider during the purchase journey is Comprehensive Accident Benefit, Waiver of premium and Critical Illness. This article helps you understand the meaning and benefits of different types of riders so that you buy the best term insurance plan customizable for yourself.

Difference between Term Plan and Whole Life Plan
Term life insurance is the simplest form of life insurance, that offer a lump sum payment as Death Benefit and can be availed for a fixed term. Whole life insurance offers both, a death benefit as well as savings benefits. Both these plans have distinct features and benefits and one should choose the plan that best suits your requirements. This article helps you understand the proposition each plan offers and helps you take a right decision for yourself.

Additional Benefits through Riders
Max Life COVID19 One Year Term Rider
Get financial protection from the uncertainty of COVID 19, with a lump sum pay out on COVID-19 diagnosis or death after COVID Diagnosis (For further details, please refer to the Max Life COVID19 One Year Term Rider Prospectus, UIN 104B048V01) Both Diagnosis and Death Cover is available only for the Life Insured

Rider contract
Rider rates
Rider leaflet
Max Life Waiver of Premium Plus Rider (UIN: 104B029V03)
Max Life Waiver of Premium Plus Rider (UIN: 104B029V03) provides waiver of all future premiums in case of Critical Illness or dismemberment or Death (only when Life Insured and Policyholder are different individuals). This product doesn't have an in-built Waiver of Premium benefit and thus rider benefit is an additional benefit. For more details on the Rider and various terms and conditions, please refer to the Max Life Waiver of Premium Plus Rider Prospectus/Brochure, Rider Contract, Rider Rates & Rider Leaflet

Rider contract
Rider rates
Rider leaflet

MAX LIFE SMART TERM PLAN https://www.maxlifeinsurance.com/term-insurance-plans/smart-term-plan