What is a Max Life Insurance Plan?
Max Life insurance is a contract between a policyholder and the insurance company for the financial protection of the former’s family. In return for regular premium payments, the insurer provides a life cover, also called the sum assured. This is a fixed amount paid out if the insured person passes away.
Why Buy a Policy from Max Life Insurance?
Here are the reasons why many people prefer buying a Max Life Insurance policy —
- 99.65% paid claim percentage
- Transparent process
- INR 1,779,409 Crore sum assured
- INR 150,863 Crore assets managed
- Customisable policies
- Easy online application and renewable processes
Top Plans Offered by Max Life Insurance
Listed below are the top Max Life Insurance policies —
- Term Plan with Return of Premium — This is a pure life cover plan that offers death benefits to the beneficiary of the insured.
- Smart Total Elite Protection Plan — A non-linked, non-participating pure life plan from Max Life Insurance, it generally includes features like death benefits, flexible premium payment options, terminal illness, and more.
- Life Insurance for NRIs - This is an exclusive life policy for NRIs with a valid Indian passport. It offers financial protection to the life assured and their family in India.
- 2 Crore Term Insurance Plan - It is a basic Max Life Insurance plan that offers the nominee or the beneficiary a financial safety net if the life assured passes away during the policy tenure. The sum assured here is INR 2 crore.
- 1 Crore Term Insurance Plan - This is a pure term plan that offers a sum assured or death benefit of INR 1 crore to the beneficiary if the life assured passes away during the plan term.
What are the Main Benefits of Max Life Insurance Policies?
When you buy a Max Life Insurance plan, you can get the following key benefits —
- Financial Security - Max Life plans can help you create a financial safety net for your family. This ensures that they continue to live a financially secure life even in your absence.
- Plan Your Child’s Future - With a Max Life Insurance policy, you can plan your children’s future, which includes their higher education plans. The death benefits they get in your absence can help them fulfil their dreams.
- Create Corpus over Long Term - Most policies of this insurer require a long-term commitment to paying timely premiums. This helps the policyholder create wealth to achieve their goals.
- Disciplined Investments - When you pay regular premiums, you invest money using a disciplined approach by paying regular premiums. With some life plans, you can get dual benefits of life cover and investments like this.
- Retirement Planning - With several Max Life Insurance policies, you can plan your retirement. Certain plans also offer monthly income or lump sum payouts so that you can enjoy your life after retirement without any financial stress.
Who Should Buy Max Life Insurance Policy?
Life insurance offers more than just coverage — it helps you build long-term wealth for yourself and your loved ones. Most importantly, it provides peace of mind, knowing your family will be financially secure if anything happens to you.
Here’s a list of people who can buy a Max Life Insurance policy —
- For Newly Married People - After marriage, your financial responsibilities increase. A life policy can ensure that your spouse’s future is secure, covering your growing obligations.
- For Young Parents - Life plans help secure your child’s future by covering their education and other needs.
- For Those with Financial Liabilities - Max Life Insurance also helps you manage debts like home or car loans, ensuring your family isn't burdened.
- For Nearing Retirement - Life plans aid in retirement planning, providing financial security and steady income post-retirement.
Can NRIs Buy Max Life Insurance Policies? |
Yes, NRIs can buy Max Life Insurance’s NRI Life Insurance Policy. This essential policy protects their family if something happens to the main earner. The payout can help their family rebuild their lives, cover daily expenses, and maintain their current lifestyle. |
What are the Documents Required to Buy Max Life Insurance Policy?
Here’s the list of documents required to buy a Max Life Insurance policy —
- Proposal form
- Identity proof
- Address proof
- Any other documents that the insurance company requests
As an NRI, you may need the following documents to buy a Max Life policy —
- Resident card/national identity card issued by the country of residence
- Utility bill showing overseas address
- Copy of a valid work permit/residential permit showing overseas address
- Driving licence issued abroad with overseas address
- Up to 3 months old credit card statements
- Employer’s certificate as proof of overseas address
Frequently Asked Questions