Max Life Insurance today announced the launch of the ‘Max Life Smart Secure Plus Plan’ a complete life insurance coverage program that provides enhanced monetary added benefits customized to the requires of the new-age clients.
It is a non-linked, non-participating, person pure-threat premium life insurance coverage program that provides policyholders numerous new and enhanced added benefits like the ‘Premium Break Option’, ‘Special Exit Value’, selection of Claims Payout for the nominee.
The program also provides policyholders to select from ‘Special Exit Value’ below which they may well select to exit at a specified point to obtain all premiums paid back for the base protection advantage. Furthermore, policyholders can opt to take a break from paying the premium and nevertheless remain covered, twice for the duration of the premium payment term by picking out the ‘Premium Break’ choice. The nominee can select the claims spend-out mode, the claims stage amongst lump-sum, month-to-month revenue, component lump-sum, and component month-to-month revenue.
Separately, upon picking the ‘Return of Premium’ variant, would permit the return of total premiums paid for the base advantage at the finish of the policy term upon life insured surviving via the policy term. Available to policyholders in the age group of 18 to 65 years, the program also provides coverage against the diagnosis of terminal illness with accelerated spend-out from the base life cover of up to Rs 1 crore. Other functions incorporate the restricted spend, accident death cover, an enhance in the policy term from 50 to 67 for clients not opting return of premium, amongst other folks.
Aalok Bhan, Director and Chief Marketing Officer, Max Life says, “The ‘Max Life Smart Secure Plus Plan’ addresses customers’ evolving preferences for personalization and customized benefits in the new protection era. Allowing customers to pay only for the benefits that suit their requirements, the plan enables the freedom to design a protection plan in alignment with individual financial needs.”
Key functions of Max Life Smart Secure Plus Plan
1. Premium Break choice, Special Exit Value Option, Nominee selection of claims payout mode
2. Terminal Illness advantage, restricted spend Accident Cover, Voluntary Sum Assured Top Up
3. Long-term coverage, choice to spend premiums as per comfort, Return of Premium variant
4. Max Life Waiver of Premium Plus Rider, Max Life Critical Illness and Disability Rider