Max Life Insurance is one of the most premier offerings in the world of Life Insurance with a range of insurance products to meet the varying demands of everyday life. The company has been a pivotal cog for Indians when it comes to the wheel of securing your loved ones.
Having been founded in the year 2000 after launching operations in Delhi, the company now extends its benefits to every state in the country.
Constituents of Max Life Insurance
There are a handful of insurance plans offered by Max Life Insurance today:
- Protection plans: Protect the family members from your untimely demise
- Child plans: Plans to financially secure your child’s future
- Retirement plans: A fund to meet your post-retirement needs
- Savings plans: Plan with a financial goal to act as your savings for the future
- Group plans: That cover a group of people under their offerings
- Strategic plans: To safeguard organizations from external ambiguities
- Growth plans: Plans with guaranteed returns in the future
While there are multiple policies available under every category, let’s take a look at the best insurance plans that constitute the offerings of Max Life Insurance in India:
1. Basic Life Cover
The simplest insurance cover, this online term plan provides you a high life cover at competitive premium rates. Premiums are paid monthly and your family members receive a one-time lump sum payment at the time of your demise, an equivalent of 100% of the assured sum amount. The policy term can range from 10-40 years.
Entry Age: 18-60 years
2. Super Term Insurance Plan
This is the perfect plan to take care of all financial needs of your family after you. While this may seem like any other plan, the USP here is the rising life cover amount that increases by 5% every year to cope up with the inflation over time.
The plan can be chosen as both a lump sum pay out or lump sum coupled with regular monthly income. The chosen policy terms can range from 10-35 years.
Entry Age: 18-65 years
3. Shiksha Plus Super Insurance Plan
This policy enables your child to follow his/her dreams by backing their future and aspirations with a reliable fund. The policy of the plan can be either 10 years or anywhere between 15-25 years. Additionally, you also receive the benefit of choosing to invest in out of 5 different funds and securities.
Entry Age: 21-50 years
4. Guaranteed Lifetime Income Plan
As the name suggests, this is a great insurance retirement plan that helps you to convert your savings into a life-long income. Such Annuity plans make sure that you never run out of cash and meet all your financial needs. The benefit can also be extended to your partner with the Joint Life Annuity option.
Entry Age: 50-80 years
5. Forever Young Pension Plan
Another great retirement plan that provides benefits to both you and your spouse. At the entry age of 30, this plan allows you to take charge of your pension goals early on and build a large corpus, while also saving you from the ups and downs of the equity market.
Entry Age: 30-65 years
6. Fast Track Super Plan
This is a comprehensive offering that enables policy-holders to achieve all future long-term goals through just one plan. There are 6 fund options to choose from in the market which can also be switched up to 12 times per year. Other advantages such as tax, death and maturity benefits are also included.
Entry Age: 18-50/60 years
7. Monthly Income Advantage Plan
This is a great traditional participating money back plan that provides you both insurance and a good return on your savings amount. This is received in the form of monthly incomes and an assured terminal bonus at the maturity of the policy. Tax and death benefits follow and you receive life term of up to 25 years by paying premiums for only 15 years.
Entry Age: 18-50/55 years
These and many such useful policies are offered by Max Life Insurance. Being one of the largest non-banking life insurers in the country, it is helping its customers strengthen their financial backings and provide a secure future to their loved ones.