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With many novel diseases surfacing, life seems to be fleeting with every second. Amidst this, the most fearful thing is thinking about your family's future if you succumb to one of such life-threatening ailments. Beside dealing with the basic costs of living, your family would need financial support in your absence if you are the sole earning member.
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Life insurance is a way to make sure your family is not financially troubled in your absence. Max Life Insurance 1 crore plan provides coverage of Rs. 1 crore for securing your family's future.
The Max Life Insurance 1 crore plan offers its customers financial coverage of Rs 1 crore. Such an amount is sufficient for your family to lead a fulfilling life without external monetary help. The policy has certain features which you should know before purchasing the policy.
They are as follows:
The policy provides financial coverage of Rs 1 crore.
It is the basic life insurance plan from Max Life Insurance which can be purchased by visiting its online portal.
The insurance premium starts as low as Rs 493, depending upon your age.
The policy offers coverage up to 85 years.
The basic plan provides financial support in the event of the death of the policyholder.
The policy can be customized according to the requirements of the policyholder.
It also covers critical illness and disability suffered by the policyholder.
Max Life Insurance Online Term Plan offers rider benefits for accidental misfortunes.
If the policyholder survives the policy term, they would be entitled to receive the entire premium they had paid during the term.
The death benefit plan can be chosen between a lump sum payout and an increasing monthly income.
The Max Life Insurance 1 crore Plan has several benefits when it comes to providing financial stability to your loved ones after your death.
Some of them are as follows:
Max Life Insurance Company offers extremely affordable and low-cost insurance policies.
Max Life Insurance will provide considerable discounts if the policyholder opts for a higher assured sum of insurance.
The Max Life Insurance 1 crore Plan can be bought online with the help of simple procedures prescribed by the company.
The policy offers a 30-day free look period. Within this period, you can terminate the insurance policy without being charged with any penalties.
You can also avail of tax benefits for insurance premium payment under the Income Tax Act, 1961.
If you are a non-smoker, the company will offer you special premium rates for the policy. Women are offered discounts and lowered rates of premium.
The following table shows the eligibility criteria prescribed for purchasing the Max Life Insurance 1 crore Plan:
| Basis | Eligibility |
| Minimum entry age | 18 years |
| Maximum entry age | For Regular Pay: 60 years
For Pay Till 60: 44 years |
| Maximum maturity Age | For Base Death Benefit: 85 years For Accelerated Critical Illness: 75 years For Accidental Cover: 85 years |
The following documents are required for availing of the Max Life Insurance 1 crore Plan:
For Identity Proof (one of the following):
Aadhaar Card
Pan Card
Form 60
Voter ID
Passport
For Address Proof (one of the following):
Current Utility Bill
Letter of allotment of accommodation by the employer
Property Tax Receipt
Municipal Tax Receipt
For Income Proof (for professionals):
Form 16
Last 3 months Bank Statements
Last two year’s Income Tax Returns
For Income Proof (for self-employed):
Form 26 AS
Income Tax Returns (last two years)
Balance Sheet and Profit & Loss Statement
You can follow the steps given below to purchase the Max Life Insurance 1 crore Plan:
Visit the official website of the Max Life Insurance Company.
On the web portal, you will see an option to use the premium calculator required to calculate the sum assured for the policy.
By filling in some basic details regarding your age, income, and other details, the calculator would show the sum assured for policy. The assured sum for this particular policy would be Rs 1 crore.
The next step would be to add any additional benefit of your choice. You would have to decide upon additional benefits by careful analysis of your needs.
Next, you would have to fill in the necessary fields and submit all the required documents.
The last step would be to choose the method for premium payment.
†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
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