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Max Life Online Term Plan Plus

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Eligibility
Entry Age (years) 
Minimum18
Maximum60
Maximum Maturity Age (years)75
Policy Term (years)10-40 years (in interval of 1 year), subject to Maximum Maturity Age
Policy Term (years) 
Minimum10
Maximum30
Sum Assured (Rs) 
Minimum25 Lakh
Maximum100 Crores
Maximum Annual Premium1,12,30,000 (excluding extra premium, modal extra, service tax and cesses as applicable from time to time; annual mode). Please note that service tax and cesses are collected over and above the policy premium
Minimum Annual Premium2200 (excluding extra premium, modal extra, service tax and cesses as applicable from time to time; annual mode). Please note that service tax and cesses are collected over and above the policy premium
Premium Payment FrequencyYearly, Half-Yearly, Quarterly, Monthly
Premium Payment TermSame as Policy Term
Premium Payment ModesAnnual, Semi – Annual, quarterly & monthly premium payment modes. The modal factors are as follows: Modal Factors Premium Mode Factor Annual 1.000 Semi-annual 0.520 Quarterly 0.265 Monthly 0.090. The premium payment mode can be changed during the premium payment term
Free Look CancellationYou have a period of thirty (30) days from the date of receipt of the policy document, to review the terms and conditions of the policy, where if you disagree to any of those terms and conditions, you have the option to return the policy stating the reasons for your objection. You shall be entitled to a refund of the premiums paid, subject only to deduction of a proportionate risk premium for the period of cover and the expenses incurred by the Company on medical examination of the life insured and stamp duty charges.
Grace PeriodA grace period of thirty (30) days from the due date for payment of each premium will be allowed for all premium paying modes except for monthly mode, where a grace period of only fifteen (15) days will be allowed.During the grace period, the Company will accept the premium without interest.
The insurance coverage continues during the grace period but if the Life Insured dies during the grace period, the Company will deduct the due premium till the date of death (if any) from the benefits payable under the Policy.
Lapsed PolicyIf the Premium is not received by us by the end of Grace Period, your Policy shall lapse with effect from the due date of unpaid premium and no benefits under the policy will be paid.
Revival of PolicyA lapsed Policy can be revived by you within 2 years from the due date of the first unpaid installment of the premium and before the expiry of policy term. The revival of policy shall take effect only after approval by the Company as per the Company’s Board approved Underwriting Policy and will be communicated to you in writing, , only if: i) You give us a written request; ii) You produce an evidence of insurability of Life Insured acceptable to us and bear the cost for the same; and iii) You pay all overdue Premiums with late payment fee and/or interest at such rates as may be determined by the Company from time to time. If a Lapsed Policy is not revived within the period allowed for revival, the Policy will terminate and no value is payable to you.
Suicide ExclusionNotwithstanding anything stated herein, if the Life Insured, whether sane or insane, dies by suicide within 12 months from the date of inception of the policy (effective date of risk commencement) or the date of revival of policy, the policy shall terminate immediately. In such cases, the Company shall only refund total premiums paid (inclusive of extra premiums, if any, but exclusive of service tax), to the nominee.
Tax BenefitsYou may be entitled to certain applicable tax benefits on your premiums and Policy benefits. Please note that all the tax benefits are subject to tax laws prevailing at the time of payment of premium or receipt of benefits by you. It is advisable to seek an independent tax consultation.
Company WebsiteHttp://www.maxlifeinsurance.com
Call OnYou can call us on our nation-wide toll-free number: 1800 200 3383* Toll free timings are 24*7 (except National holidays).
AddressMax Life Insurance Company Limited Max India, Max House, 3rd Floor, 1 Dr. Jha Marg, Okhla New Delhi - 110020, Tel: (011) 26933610,
Below are the premium rates* for sample ages (Rs. per annum) at different ages for
30 year policy term for Sum Assured of Rs. 50 lacs:
Age (Male)Sum AssuredSum Assured plus Level Monthly Income Sum Assured plus Increasing Monthly Income
Non-Smoker SmokerNon-Smoker SmokerNon-Smoker Smoker
30400055005200730057008000
3554007700710010250780011350
4076501130010250152501130016900
45114001710015350232501700025800
* excluding underwriting extra premium, service tax, education cess or any other levies applicable
Sum Assured - 50 lacs; Total Protection Value including Monthly Incomes - 74 lacs
Sum Assured - 50 lacs; Total Protection Value including Monthly Incomes - 84.8 lacs

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