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Max Life - Lump Sum Death Benefit Plus Increasing Month

About The Plan

In the future, cost of living and expenses are only headed in one direction – up. Which is why you want to make sure that your loved ones’ needs and aspirations are taken care of, when you are no longer with them.

This is where Max Life Online Term Plan with Sum Assured Plus Increasing Monthly Income Death Benefit Option could come in handy. In addition to Sum Assured payable on death, it provides monthly income for 10 years that increases at 10% simple rate of interest every year of the first year monthly income.

This plan is a Pure Term plan that provides ONLY death benefit and NO maturity benefit.

Key Features

Sum Assured on death + An increasing monthly income of 0.4% of SA for 10 years and shall increase every year by 10% (Total benefits = 169.6% of SA).

Additional protection by opting Accidental Benefit Rider and WOP Plus Rider.

High Sum Assured discounts.

Premium discounts for non-smokers.

Lower premium rates for female lives.

Min. Sum Assured Rs. 25 lacs, max. Rs. 100 Crs.

Entry age 18-60 years.

Flexibility to choose Policy Term from 10 to 35 years.

Maximum Expiry Age: 70 years.

Tax benefit u/s 80C & 10(10D) of the Income Tax Act, 1961.

Eligibility Criteria

  • Minimum sum assured is 25 lakhs & maximum sum assured is 100
  • Minimum entry age is 18 years & maximum entry age is 60 years
  • Minimum policy term is 10 years & maximum policy term is 35 years
  • Premium payment mode is Yearly
  • Maturity benefits are Nil
  • Grace period is 30 days
  • Yes, under Section 80C & 10(10D) of the Income Tax Act, 1961