Compare insurance. What are the types of Life Insurance plans In India?

The growing insurance market translates into a wide range of products suited to different requirements. If you do not know what you need, the plethora of choices can be overwhelming. Types of life insurance.

In order to pick the best insurance plan for yourself, you need to start by identifying your financial goals. Apart from this, your disposable income, no. of working years, other assets and savings also influence the choice.

Insurance plans can be broadly divided into three categories:

If you are planning to purchase a Protection Plan, consider the Max Life Online Term Plan Plus for a high cover.

In addition, there are a number of Wealth Plans you could choose from, such as the Max Life Fast Track Super plan or the Max Life Guaranteed Income Plan for savings and growth.

BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS

IRDAI clarifies to public that:

• IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums.

• Public receiving such phone calls are requested to lodge a police complaint.

Copyright @2016 Max Life insurance Co. Ltd. All Rights Reserved. An ISO 9001:2008 Certified Company.

10 year term life

Max Life Insurance Co. Ltd. is a Joint Venture between Max Financial Services Ltd. and Mitsui Sumitomo Insurance Co. Ltd. Registered Office: 419, Bhai Mohan Singh Nagar, Railmajra, Tehsil Balachaur, District Nawanshahr, Punjab -144 533. Corporate Office: Max Life Insurance Co. Ltd., 3rd, 11th and 12th Floor, DLF Square Building, Jacaranda Marg, DLF City Phase II, Gurugram (Haryana) - 122002. Operation Center: Max Life Insurance Co. Ltd, Plot No. 90-A Udyog Vihar, Sector 18, Gurugram (Haryana) - 122015.

Helpline: 1860 120 5577 (9:00 A.M to 6:00 P.M Monday to Saturday) * Call charges apply. Online Term Plan Helpline: 1800 200 3383. Fax Number:0124-4159397.

Life Insurance Coverage is available in this Product

THE LINKED INSURANCE PRODUCTS DO NOT OFFER ANY LIQUIDITY DURING THE FIRST FIVE YEARS OF THE CONTRACT. THE POLICYHOLDER WILL NOT BE ABLE TO SURRENDER/WITHDRAW THE MONIES INVESTED IN LINKED INSURANCE PRODUCTS COMPLETELY OR PARTIALLY TILL THE END OF FIFTH YEAR.

Unit Linked Insurance Products (ULIPs) are different from the traditional insurance products and are subject to the risk factors. The premium paid in the Unit Linked Life Insurance Policies is subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the insured is responsible for his/her 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 unit linked life insurance contract and does not in any way indicate the quality of the contract, its future prospects or returns. Please know the associated risks and the applicable charges from your Insurance agent or the Intermediary or policy document of the insurer. The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these funds, their future prospects or returns.

Max Life Smart Term Plan (UIN: 104N113V02), Max Life Smart Term Plan is a non-linked non-participating individual pure risk premium life insurance plan; upon policyholder's selection of Premium Back variant, this product shall be non-linked non-participating individual life insurance savings plan

Max Life Online Term Plan Plus (UIN 104N092V01 / UIN 104N092V02 / UIN 104N092V03/ UIN 104N092V04)

A Non-Linked Non-Participating Individual Pure Risk Premium Life Insurance Plan

New life insurance

^On payment of additional premium

*^Total premiums paid inclusive of any extra premium but exclusive of all applicable taxes, cesses or levies and modal extra. Return of premium option is available on payment of additional premium.

~The percentage saving computed is purely in terms of premium paid over the term (Difference between Limited and Regular pay) of the policy and does not account for time & other factors that may happen during this period. It is one of the many variants that the product offers and you can opt for it based on your individual needs. The percentage savings is for Online Term Plan Plus- Life Option for 1 Crore life cover for a 28 year old healthy male for a policy term of 40 years with regular income pay out option. The total premium will be 3,20,640 (in case of regular pay) and 1,79,520 (in case of 10 pay) excluding taxes.

^*Claims for policies completed 3 continuous years. All mandatory documents should be submitted before 3:00pm on a working day.

Claim amount on all eligible policies

is less than Rs. 1 Crore. Claim does not warrant any field verification.

Mandatory Documents: • Original policy document • Original/attested copy of death certificate issued by local municipal authority • Death claim application form (Form A) • NEFT mandate form attested by bank authorities along with a cancelled cheque or bank account passbook along with nominee's photo identity proof • Discharge/Death summary attested by hospital authorities or FIR & Post Mortem Report/viscera report (in case of accidental death)

^** All claims that qualify for InstaClaim™ will be paid within 1 working day from date of submission of all mandatory documents else Max Life will pay interest at Bank Rate as on beginning of financial year in which claim has been received (6.25 % for p.a. FY’19) for every day of delay beyond one working day. Interest shall be at the bank rate that is prevalent at beginning of the financial year in which death claim has been received.

Life insurance of

Criteria applicable only for “Term plans” for Graduate, Indian resident with declared income >= 10 lacs with CIBIL score >= 650 (salaried) and >= 700 (self-employed) with no disclosed medical condition.

InstaClaimTM is available for all versions of Max Life Online Term Plan (UIN 104N078V01); Max Life Online Term Plan Plus (UIN 104N092V01 / UIN 104N092V02 / UIN 104N092V03/ UIN 104N092V04) and Max Life Smart Term Plan (UIN: 104N113V01 / 104N113V02). Mandatory Documents: • Original policy document • Original/attested copy of death certificate issued by local municipal authority • Death claim application form (Form A) • NEFT mandate form attested by bank authorities along with a cancelled cheque or bank account passbook along with nominee's photo identity proof • Discharge/Death summary attested by hospital authorities or FIR & Post Mortem Report/viscera report (in case of accidental death)

THE LINKED INSURANCE PRODUCTS DO NOT OFFER ANY LIQUIDITY DURING THE FIRST FIVE YEARS OF THE CONTRACT. THE POLICYHOLDER WILL NOT BE ABLE TO SURRENDER/WITHDRAW THE MONIES INVESTED IN LINKED INSURANCE PRODUCTS COMPLETELY OR PARTIALLY TILL THE END OF FIFTH YEAR.

Insurance is the subject matter of solicitation. For more details on the risk factors, Terms and Conditions, please read the sales and rider prospectus carefully before concluding a sale. Tax benefits are eligible for tax exemption on fulfilling conditions mentioned under Section 10(10D) of income tax act 1961. Tax exemptions are as per our understanding of law and as per prevailing provisions of income tax at 1961. Policy holders are advised to consult tax expert for better clarification /interpretation. Please note that all the tax benefits are subject to tax laws at the time of payment of premium or receipt of policy benefits by you. Tax benefits are subject to changes in tax laws. The monthly Income Benefit and Terminal Benefit may be taxable subject to extra premium being loaded at underwriting stage.

(b) 1 year education of an under privileged child will be funded as part of Max Life CSR initiatives.

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