all rights reserved. an iso 9001:2008 certified company.
max life insurance company limited is a joint venture between max financial services limited and axis bank limited.
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corporate office: max life insurance co. limited. 11th floor, dlf square building, jacaranda marg, dlf city phase ii, gurugram (haryana) – 122002.
center of operations: max life insurance co. ltd, plot no. 90-c udyogvihar, sector 18, gurugram (haryana) – 122015.
customer service line: 1860 120 5577 (9:00 a.m. to 6:00 p.m. from Monday to Saturday) *call charges apply.
online helpline – 0124 648 8900 (09:00 am to 09:00 pm Monday to Saturday).
email id: [email protected]
*Life insurance coverage is available on this product. For more details on risk factors, terms and conditions, please read the prospectus carefully before concluding a sale. You may be entitled to certain tax benefits applicable to your policy premiums and benefits. Please note that all tax benefits are subject to the tax laws in effect at the time you pay the premium or receive benefits. tax benefits are subject to changes in tax laws. the business logo shown belongs to max financial services ltd. y axis bank ltd. respectively and with your consent, are used by max life insurance co.
insurance is the object of the request. For more details on risk factors, terms and conditions, please read the sales prospectus and riders carefully before concluding a sale. tax benefits are eligible for tax exemption if the conditions listed in section 10 (10d) of the income tax act of 1961 are met. tax exemptions are based on our understanding of the law and under the applicable tax provisions on income in 1961. Policyholders are advised to consult a tax expert for further clarification/interpretation. Please note that all tax benefits are subject to tax laws at the time you pay the premium or receive policy benefits. tax benefits are subject to changes in tax laws. monthly income benefit and terminal benefit may be taxable subject to additional premium charged at enrollment stage.
disclaimers for marketplace-linked plans & savings plans:
linked insurance products do not offer liquidity during the first five years of the contract. the policyholder will not be able to deliver/withdraw the money invested in the linked insurance products in whole or in part until the end of the fifth year.
unit-linked insurance products (ulips) are different from traditional insurance products and are subject to risk factors. The premium paid on unit-linked life insurance policies is subject to the investment risks associated with the capital markets and the face value of the units may rise or fall based on the performance of the fund and factors influencing the market. of capital and the insured is responsible for his liability. your decisions max life insurance is only the name of the insurance company and max life online savings plan (uin: 104l098v03) is only the name of the life insurance contract linked to the unit and does not indicate in any way the quality of the contract, their future prospects or returns. please learn the associated risks and applicable charges from your insurance advisor or insurer’s broker or policy document. the various funds offered under this agreement are the names of the funds and in no way indicate the quality of these funds, their future prospects or performance.
max life smart heritage plan is an unlinked non-participating individual life insurance savings plan (uin 104n116v04)
*#some benefits are guaranteed and some benefits are variable with returns based on the future performance of your insurer conducting life insurance business. the assumed rates of return (4% per annum and 8% per annum) shown in the illustrative example are not guaranteed and are not upper or lower limits of what you could recover, as the value of your policy depends on a number of factors. factors including future return on investment. guaranteed and non-guaranteed benefits apply only if all premiums are past due. the maturity benefit shown in the illustrative example includes/excludes tax.
#^ guaranteed benefits apply only if all premiums due are paid.
#* tax benefits under current tax laws, subject to change.
*(a) The “protect a smile” initiative applies to all term plans, ie five-year maximum renewal & Convertible Term Insurance (Non-Participating)- 104n001v01; max life easy term policy- 104n002v01; maximum standard of living term policy (non-participating/non-convertible) – 104n009v01; max life platinum protect-104n060v01; max life platinum protect ii-104n060v02; maximum life premium return term plan: 104n069v01; online term plan max life-104n078v01; maximum life premium return protection plan: 104n083v01; smart term plan max life-104n113v01.
(b) 1 year of education for a disadvantaged child will be funded as part of max life’s csr initiatives.
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**standard premium for healthy men age 24, non-smokers, 25-year policy term, 25-year premium payment term (not including gst) for max life smart secure plus plan (uin: 104n118v02)
^^at the end of the term of the policy
# Savings shown are the maximum premium difference compared to the offline plan & depends on the variant purchased.
^*all instaclaim™ eligible claims will be paid within 1 business day from the date all required documents are submitted; Otherwise, Max Life will pay interest at the bank rate at the beginning of the financial year in which the claim was received (4.65% per annum for FY’20) for each day of delay beyond one business day. interest will be at the bank rate in effect at the beginning of the fiscal year in which the death claim was received.
claims for policies completed 3 continuous years. all required documents must be submitted by 3:00 p.m. m. in one business day. the claim amount on all eligible policies4 is less than rs. 1 million rupees the claim does not guarantee any field verification. mandatory documents: > original policy document > original/certified copy of the death certificate issued by the local municipal authority > death claim application form (form a) > neft mandate form certified by banking authorities together with a canceled check or bank account book together with photo proof of identity of the nominee > discharge/death summary certified by hospital authorities or fir & postmortem report/viscera report (in case of accidental death)
[email protected] 30 years: standard premium for healthy men age 30, 1 cr life coverage, 25 year policy term, 25 year premium payment term (excluding gst) for max life smart secure plan plus (uin: 104n118v02)
35 years old: standard premium for 35 year old healthy men, 1 cr life coverage, 25 year policy term, 25 year premium payment term (not including gst) for max life smart secure plan plus (uin: 104n118v02) 5% earner discount disclaimer
bfsi 7cmo asia excellence award 2019
5 criteria applicable only for “term plans” for graduates, Indian residents with declared income >= 10 lacs with cibil score >= 650 (salaried) and >= 700 (self-employed) without medical condition revealed
4instaclaim tm is available for all versions of the max life online term plan (uin 104n078v01); max life smart term plan (uin: 104n113v01 / 104n113v02/ 104n113v03/104n113v04) and max life smart insurance plus plan (uin: 104n118v02). required documents: • original policy document • original/certified copy of death certificate issued by local municipal authority • death claim application form (form a) • neft mandate form certified by banking authorities along with a check canceled or bank account book together with photo of nominee proof of identity • discharge/death statement certified by hospital authorities or fir & postmortem report/viscera report (in case of accidental death)
## save 46,800 tax if insurance premium amount is Rs 1.5 lakh. 50 lakh and opt for the old tax regime ~# save 54,600 in tax if the insurance premium amount is Rs 1.5 lakh per year for life cover and Rs 25,000 for critical illness cover and you is a normal person, falls under the income tax of 30% taxable income less than rs. 50 lakh and opt for the old tax regime.
3The discount applies if you are a salaried employee of a company. During policy issuance, Max Life may request proof of employment if necessary. In the event that the proposer, when requested, cannot prove the employment portion, the discount offer will be suspended and an additional premium will be payable as appropriate for the processing of the case.
ci rider disclaimers:
critical illness and disability maximum rider (uin-104b033v01) available as a rider with additional premium payment.
>extended coverage up to 85 years is available only with the gold and platinum variant
@ 64 critical illnesses covered in platinum and platinum plus variant on payment
22 critical illnesses covered in gold and more gold variant
6 the life insurer is eligible for a discount on the renewal premium under the regular payment variant when accumulating healthy weeks according to the terms and conditions of the rider
*^total premiums paid, including any additional premiums, but not including all applicable taxes, fees or levies and extra modal. the premium return option is available upon payment of an additional premium.
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plan max life smart secure plus (uin: 104n118v02) an individual non-participating unlinked pure risk premium life insurance plan
~ conditions for premium interruption: available with an additional premium for policies with an effective term of more than 30 years and a premium payment term of more than 21 years. option to skip premium payment for 12 months. 2 premium breaks will be available during the premium payment term separated by an interval of at least 10 years
~1 conditions for special output value:
option to receive all premiums paid, at a specific point in the policy term (at no cost). available when premium variant return is not chosen. no additional premium to pay.
~2 voluntary recharge sum insured:
option to double your insurance coverage, basic subscription, at the time of your need, increasing your insured sum up to an additional 100% of the insured base sum, chosen at the beginning
^^*^^free trial period conditions:
The insured has a period of 30 days from the date of receipt of the policy document, to review the terms and conditions of the policy, where if the insured does not agree with any of those terms or conditions, You have the option to return the policy stating the reasons for your objections. the policyholder will be entitled to a refund of the premiums paid, subject only to the deduction of a risk premium proportional to the period of coverage and the expenses incurred by the company in the medical examination of the insured persons and stamp duty.
^Based on FY21-22 Audited Annual Financials
the total premium of 2 will be charged at the time of policy issuance (subject to underwriting decision).
3Guaranteed benefits are available with select life insurance plans & apply if all premiums due are paid
4 tax benefits according to current tax laws, subject to change
terms and conditions to take advantage of the 5% employee discount:
<Due to system limitations, the employee is requested to select income of 5 lakh or more which can be changed to the actual amount on the information page.
1 You will be reimbursed for the 5% employee discount once your policy is issued. send your documents to get your policy and get a 5% discount for employees
9 percent savings is for a regular pay max life smart secure plus plan (a non-participating individual unlinked pure risk premium life insurance plan, uin – 104n118v02) – life option for life coverage of 1 cr for a 35-year-old, non-smoking male for a 40-year policy term vs. a 10-year policy term with the same details’
· for the total installment premium: ** the total installment premium is the premium payable according to the chosen premium payment frequency, excluding VAT and applicable taxes, fees or levies , if any; and includes surcharges for modal premiums, subscription of additional premiums and additional premiums, if any.
· for premium return: ~ premium return option is available upon payment of additional premium. premium does not include amount paid for riders and excludes taxes, terminations and liens. upon policyholder selection of the return of premium variant, this product will be a non-linked, non-participating individual life insurance savings plan.
· for additional riders: #applicable rider available with additional premium payment is maximum critical illness and disability rider | Non-Participating Individual Pure Risk Premium Health Insurance Rider |uin: 104b033v01 . the critical illness and disability variant chosen is platinum plus, which covers 64 critical illnesses. rider coverage will only be paid in scenarios where the customer is diagnosed with all 64 listed serious illnesses or total and permanent disability. the clause will end after the serious critical illness claim is paid to the policyholder. In the event that the client requests the cancellation of an additional clause only, the solution as a whole will be canceled and not just the individual clause.
· for additional benefits – ##with additional premium payment. Accident coverage will only be paid in cases in which death occurs by accident.
arn – arn/web/01/21042021
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