Max Life Smart Secure Plus Plan

It can be challenging to manage the growing expenses in a rapidly changing economy. You need a contingency plan that can accommodate the evolving financial requirements of your family. Max Life Smart Secure Plus Plan – a new product offering of Max Life term insurance comes to your rescue and helps you create a financial shield that can accommodate any such changes.

The Max Life Smart Secure Plus Plan is designed to fulfil your financial security requirements and provide a dependable support system in case of emergencies. Max Life Smart Secure Plus Plan offers two death benefits. You also get inbuilt benefits such as cover for terminal illness and a special exit value*.

Along with that, this term plan also offers an array of optional benefits such as joint life cover, premium breaks, additional payout on accidental death and more. With this plan, your insurance needs are completely covered. It can work as a one-stop solution for your financial security requirements. As the policy buyer, it is best to understand how the policy works to be more aware of your financial decisions.

(*This is only applicable for NROP/Pure Protection, Policy Term 40 and above).

Download Max Life Smart Secure Plus Plan Brochure

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Benefits of Max Life Smart Secure Plus Plan

Let’s understand the benefits of the Max Life Smart Secure Plus Plan in detail:

Death Benefit

You can establish a strong financial support system for your loved ones with the Life Cover or Increasing Life Cover option offered by Max Life Smart Secure Plus Plan. This plan allows you to choose from variants and ensure that the sum assured is adequate even for the coming years.  With the options for customization available, you can cover all your bases and keep your family secure and financially stable during challenging times. Since the primary objective of any term plan is to cover the insured individual’s life and financial liabilities, it is crucial to carefully choose the life cover option. Make sure you map your financial requirements of the future well and select the life cover option that aligns with your objectives fittingly.

Terminal Illness Cover

As part of the term insurance plan benefits, your financial needs will be taken care of if you are diagnosed with a terminal illness. In such a scenario, 100 % of the guaranteed death benefit (capped at 1 crore) will be paid to you upon certification by a medical practitioner. 

Maturity Benefit

Suppose you opt for the return of premium variant with Max Life Smart Secure Plus Plan at the time of purchase. In that case, it entitles you to receive a maturity benefit upon surviving the policy term. With this option available, you can receive the total premium amount paid at the end of the policy term.

Accident Cover

Under this benefit, the insured’s family receives the cover amount, along with the base cover, in case of the insured individual’s demise due to an accident. You can add this cover to your term plan (Max Life Smart Secure Plus Plan) at any time during the premium payment term, subject to the conditions for the accident cover. 

Accelerated Critical Illness

With the Accelerated Critical Illness (ACI) benefit, you are eligible to receive the cover amount upon diagnosis of any of the 40 specified critical illnesses, provided the policy is in-force and meets other terms and conditions.

Joint Life Benefit

If you are looking for a policy that can take care of your spouse’s needs after you, this may be a preferred choice. A significant concern when buying term insurance is the financial care of your spouse in case of an unfortunate event. Therefore, choosing a policy like Max Life Smart Secure Plus Plan can give you peace of mind. When buying the Max Life Smart Secure Plus Plan, you can choose a joint life cover to secure your partner’s life along with yourself. Here’s how it would work:

• In case your spouse meets with an untimely demise before you or is diagnosed with a terminal illness, a guaranteed death benefit of Rs. 10 lakhs will be payable to the beneficiary, and the primary life cover will continue at a reduced premium and original sum assured. assured chosen by you will be payable to your spouse in the pay-out option of their choice,
• In case you suffer an unfortunate incident before your spouse, and if in the future, they are diagnosed with a terminal illness or pass away, the guaranteed death benefit of Rs. 50 lakhs will be payable to the nominee. Additionally, it comes with a built-in premium waiver, meaning premiums will be waived off for your spouse’s sum assured, upon your demise. Riders for Additional Benefits.

Riders

Along with the base benefits of the Max Life Smart Secure Plus Plan, you can choose from various riders to add-on to your policy. These include a waiver of premium plus rider, critical illness cover (CIDR).

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Why Should You Choose Max Life Smart Secure Plus Plan?

Each year the cost of living is steadily rising, and along with that, the threats to life have multiplied. Having a life insurance plan for your family’s future is integral in such a scenario to be prepared against any uncertainties. The new Max Life term insurance plan (Max life smart secure plus plan) can be a valuable addition to your financial plan because of the varied multiple benefits and features. 

Here’s are some reasons why you should choose the new Max Life term insurance:

1. Comprehensive Financial Security

The availability of death benefit options and several add-on benefits make the new Max Life insurance term plan a suitable instrument to get comprehensive financial security. If you understand your personal financial requirements well and project future needs cautiously, you can choose the right combination of features and benefits with the Max Life Smart Secure Plus Plan.

This will enable you to build an all-inclusive financial security plan that can efficiently protect you and your loved ones. If you have family members dependent on your income source, it is vital to begin planning your investments in time.

2. Health Component

Max Life term insurance (Max life smart secure plus plan) comes with a terminal illness benefit that entitles you, the insured person, to the sum assured of up to Rs. 1 crore, in case of diagnosis of a disease. In the absence of a plan like Max Life term insurance (Smart Secure Plus Plan) that offers 100% of the sum assured in case of a terminal illness(capped to 1 cr), you may face an immense financial burden to cover the respective medical expenses.

Additionally, The health component of the Max Life term plan is a desirable advantage, considering the rise in cases of critical illnesses in recent years. Therefore, Max Life offers a critical illness and disability rider which can further strengthen the cover and provide valuable financial assistance to you. Health-related expenses are the most significant sources of financial drain in a person’s life. It may be unpleasant to think of yourself or your family suffering, but it is crucial to be financially prepared for such situations.

3. Flexibility of Claims Payout

It offers the flexibility of claims pay-out to your beneficiary to receive the sum assured as per their requirements in case of the insured’s untimely demise. They can opt to receive the death benefit as a lump sum amount, regular payments to replace the monthly income source or as a combination of both (as per the nominee’s choice).

Since term insurances are long-term protection plans, the needs of your family may have transformed by the time they receive the death benefit. So, the availability of multiple pay-out options can help them use the money according to their needs at the time. For instance, they can take the lump sum amount if there is a significant expense, such as a child’s college fees to be paid.