Max Life Term Insurance Plan

  • 99.34% Claim Settlement Ratio
  • 269+ PAN India Offices
  • Zero Cost Term Plan


In today's world, securing the financial future of your loved ones is essential in case of unfortunate events. Life is full of unexpected twists and turns, and it becomes essential to have a reliable life insurance plan to ensure the well-being of our family members. Max Life Term Insurance Plan provides financial security and peace of mind. This page will explore the features, benefits, and reasons to consider the Max Life Term Insurance Plan.

Understanding Max Life Term Insurance Plan

Max Life term insurance plan is a pure life insurance product that provides a lump sum payment to the nominee in case of the sudden demise of the policyholder during the policy tenure, known as a death benefit. It acts as a financial safety net, ensuring your loved ones can maintain their lifestyle and meet their financial obligations, even when you are not around.

Key Features of Max Life Term Insurance Plan

Below are the key features of the Max Life Term Plan:


Affordable Premiums

Max Life Term Insurance Plan offers competitive premiums, making it accessible to individuals from different income groups. This allows you to choose a sum assured that suits your financial needs and budget.


Flexible Policy Term

This plan offers flexibility in choosing the policy term based on your requirements. Depending on your financial goals and responsibilities, you can opt for a term ranging from a min. of 10 years to a max. of 50 years.


Comprehensive Coverage

Max Life Term Insurance Plan provides a high level of coverage against the risk of premature death. The sum assured paid to the nominee can be utilized to cover various expenses such as loan repayments, children's education, daily expenses, and outstanding debts.


Optional Riders

To enhance the coverage, Max Life Term Insurance Plan offers additional riders that policyholders can opt for. These riders include critical illness cover, accidental death benefit, disability benefit, and waiver of premium, providing comprehensive protection against unforeseen circumstances.


Tax Benefits

Premiums paid towards the Max Life Term Insurance Plan are eligible for tax benefits under Section 80C of the Income Tax Act, 1961. The nominee's death benefits are also tax-free under Section 10(10D) of the Income Tax Act, subject to prevailing tax laws.

Benefits of Max Life Term Insurance Plan

Below mentioned are some of the benefits of the Max Term Life Insurance Plans:

  • Financial Security

    The primary benefit of Max Life Term Insurance Plan is the financial security it offers to your loved ones in your absence. The lump-sum payout can help your family maintain their standard of living, fulfil long-term goals, and meet financial obligations without any financial strain.

  • Loan Protection

    If you have any outstanding loans, such as a home loan or car loan, the death benefit received from the policy can be utilized to settle these loans, ensuring that your family is not burdened with liabilities.

  • Education and Future Planning

    The sum assured can be crucial in securing your children's education and future. It can fund their higher education expenses, enabling them to pursue their dreams without financial constraints.

  • Coverage against Critical Illness

    By opting for the critical illness rider, you can receive a lump sum upon diagnosing a specified critical illness. This additional coverage helps manage medical expenses and ensures that your family's financial well-being remains intact even during a health crisis.

  • Waiver of Premium

    The waiver of premium rider ensures that your policy remains in force even if you unable pay the premiums due to a disability or critical illness. The premiums are waived, and the policy provides the desired coverage.

  • Variety of Plans

    Max Life Insurance offers a variety of term insurance plans tailored to cater to its customers' different requirements.

Why Should You Buy Max Life Term Insurance Plan?

People from all walks of life recognize the need for life insurance, which drives them to look for the best term insurance plan to meet their needs. In today's fast-paced world, every family needs financial protection through term plans to cope with the burden of losing a loved one. Additionally, it helps pay off home and car loans. Below are some reasons why you should buy Max Life Term Plans:

  • Secure Family Future: It is your responsibility to secure the future of your family. Being an earning member of the family, you should take care of the well-being of your spouse, parents and children. Term insurance is essential to ensure you fulfil your duties towards your loved ones even when you are no more.
  • Protect Assets: You may have created an asset like a home, business or car through the loan. With a term insurance policy, you can be sure that some of these loans will not strain your surviving family members.
  • Minimize Life Risks : The untimely death of the primary breadwinner can turn a family's existence upside down, making it challenging for them to make ends meet. Even the best term insurance policy may not compensate for the passing of a loved one, but it can ease the financial burden of losing the family's primary breadwinner.
  • Stay Prepared for Uncertainties : The uncertainties of life can hit us unexpectedly. This is easily understandable, considering the global coronavirus pandemic. The best term insurance plan should provide us with the necessary tools to be financially prepared to face the various inevitable challenges in life.

Term Life Insurance Plans Offered by Max Life Insurance

Max Life Insurance offers five-term insurance plans, and each term plan comes with its own unique features and benefits. Hence, we have listed all the term insurance plans offered by Max Life Insurance along with their benefits and eligibility criteria:

Who Should Buy Max Life Term Plan?

These realities of death, disability, and illness are rarely discussed. But each of these realities is something we can never be sure we'll be able to defeat. Term insurance is one tool that can protect you and your loved ones from financial hardships caused by these three more dreadful conditions. Hence, those who all should have financial dependents should buy a Max Life Term Insurance Plan such as:




Newly Married


Young Individuals

Max Life Insurance Term Plans Buying Process

Max Term Plan offers an easy and simple buying process. You can buy it through two ways, i.e., from the official website of Max Life Insurance and RenewBuy. The process of buying a Max Term Life Insurance Plan involves several steps. Below, we have mentioned both the buying process of the Max Term Insurance Plan:

Buy from the Official Website

  • Visit the official website of “Max Life Insurance”.
  • Click on the “Term Insurance” tab from the header menu.
  • Enter the required details, such as name, date of birth, gender, etc., and click “Check Premiums”.
  • Now select the payment mode such as Credit Card, Net Banking, UPI, etc.
  • Make the payment and enjoy the benefits of the Max Life Term Insurance.

Buy from

  • Visit the official website of “RenewBuy”.
  • Click on the “Life Insurance” tab.
  • Go to the “Life Insurance Companies” section.
  • Select the “Max Life Insurance” company from the list.
  • Scroll down and select the “Term Plan” section
  • Click on the “Buy Now” button
  • A pop-up will show you the plan details and the additional rider information.
  • Click on the “Proceed to Buy” button.
  • Make the online payment, and the policy documents will be sent to your registered email address.

Max Life Term Insurance Claim Process

In case of the death of the policyholder, the nominee can follow the below mentioned steps to file a claim:


Fill in the details on the claim form that is available at all Max Life Insurance offices.


Attach all the required documents.


Submit the form along with the documents to the branch.

Generally, Max Life Insurance settles all claims within 10 working days.