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• Max Life Super Term Plan and Policy

Max Life Super Term Plan and Policy

Max Life Super Term Plan and Policy - The Super Term Plan from Max Life Insurance Company is a simple term plan that pays out a death benefit to your dependents in the unfortunate event of your demise. The plan has a unique new Increasing Sum Assured option, wherein the Sum Assured increases by 5% on the completion of every policy year, till the end of the term. The feature is added as an option for those who wish to combat the effects of inflation.

Key Features - Max Life Super Term Plan and Policy

• Flexibility to choose policy term from 10 years to 35 years.
• Flexibility to choose death benefit payout – the dependents can either take the benefit as 100% lump sum payment, or 50% as a lump sum and the remaining 50% over the next 10 years, increasing at 8.5% p.a. simple rate.
• Affordable premiums and high sum assured options.
• Minimum policy term is 10 years.
• Maximum policy term is 35 years.
• Policy term can be anywhere between 10 and 35 years, rising in intervals of 1 year only.
• Premium payment term will be equal to the policy term.
• Minimum premium payable is Rs.5,000 excl. modal extra, extra premium, cess, tax, etc.
• There is no limit on the maximum premium payable, as it is dependent on the Board approved underwriting policy of Max Life Insurance Company.
• Minimum sum assured is Rs.25,00,000.
• There is no limit on the maximum sum assured, as it is dependent on the Board approved underwriting policy of Max Life Insurance Company.
• Sum assured can be raised in multiples of Rs.1,00,000 only.
• Level Sum Assured for those who want a regular term insurance plan, and Increasing Sum Assured options for those who want their benefit payout to also combat the effect of inflation.

Benefits - Max Life Super Term Plan and Policy

1. Death Benefit:

   In the unfortunate event of the death of the life insured, the dependents or nominees as named will be eligible to receive the death benefit from the company, which will be:

   • Under Level Sum Assured option: Guaranteed Death Benefit (Sum Assured).
   • Under Increasing Sum Assured option: Guaranteed Death Benefit (Sum Assured)