Max Life Platinum Protect II
Max Life Insurance, one of the leading life insurers, is a joint venture between Max India Ltd. and Mitsui Sumitomo Insurance Co. Ltd. Max India is a leading Indian multi-business corporate, while Mitsui Sumitomo Insurance is a member of MS&AD Insurance Group, which is amongst the top general insurers in the world.
Toll Free Number-1800 200 5577,1800 180 5577(for MTNL/BSNL)
Email ID:- service.helpdesk@maxlifeinsurance.com
- This plan helps you to fulfill the needs of you and your family
- This plan is to fulfill the financial needs of your family in your absence
- It offers a comprehensive insurance cover, to take care of your loved ones in case you are not around, at affordable rates
- For the customers opting for Sum Assureds of Rs. 50 lac and above, there are special discounts built in the plan.
- Flexibility to choose between the policy terms (10,20, 15, 20, 25, 30)
- Lower rate of premium for healthier lives and Non smoker
- At the Sum Assured of s 50 lacs discount of Rs 15 Lac of Sum Assured
Unique Features of Max Life Platinum Protect II Plan
Max Life Platinum Protect is a term insurance plan
If regular premiums are paid for 15 years and then discontinued, in such a case policy continues with a reduced sum assured.
Eligibility Criteria for Max Life Platinum Protect II Plan
| Eligibility Criteria | |||||
|---|---|---|---|---|---|
| Age at Entry (Min) | 18 years | ||||
| Age at Entry (Max) | 60 years | ||||
| Guaranteed Maturity Sum Assured |
Max - 25,00,000 Min - No limit subject to underwriting |
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| Premium Paying Term | Regular Term only Thus premium paying terms are 10, 15, 20, 25 and 30 years |
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| Minimum Premium | Rs 5000 p.a for Annual Mode for non Annual mode factors are applicable | ||||
| Policy Term | 10, 15, 20, 25 and 30 years | ||||
| Max Maturity Age | Policy Anniversary following or coinciding Life Insured attaining age 75 years | ||||
| Special Rates for Females | Rates differ according to the gender 3 years age setback over males will be used to determine premium rates | ||||
| Premium paying modes and Modal Premium Factors |
Annually, Semi annually, Quarterly and Monthly | ||||
| For Non Annual Modes, Modal Factors will be applicable Sum Assured and Maturity. | |||||
Product Benefits of Max Life Platinum Protect II Plan
| Benefit | Description | |||||
|---|---|---|---|---|---|---|
| Death Benefit | Sum Assured or reduced Insurance cover will be paid to the nominee of the Life Insured | |||||
| Policy offered reduce insurance cover from policy year 16 onwards in case of policy holder discontinuous premium paying premiums | ||||||
| Maturity/ Survival benefit | None | |||||
Other Policy Features of Max Life Platinum Protect II Plan
| Feature | Description | |||||
|---|---|---|---|---|---|---|
| Surrender | No Surrender benefit is payable under this plan. | |||||
| Reduced Insurance Cover | Max Life Platinum Protect II offers additional feature of reduced insurance cover (if premiums are paid for atleast 15 years) that keeps you covered in case you stop paying premiums | |||||
| Special Rates for Healthy Lives | Every policy under this product will undergo medical underwriting to establish the underwriting class of the Life Insured. | |||||
| The life insured will be classified in one of the three underwriting classes of the Life Insured. | ||||||
| The preferred Non smoking category is only available for Sum Assured of Rs 50 Lacs onwards. | ||||||
| Revival | The policy can be revived within a revival period of two years from the due date of first unpaid premium | |||||
| Lapse | The policy lapses if the premium due is not within the grace period(30 days for annual, semi annually and quarterly mode and 15 days for monthly mode) | |||||
Add-ons for Max Life Platinum Protect II Plan
Not available in this plan
Exclusion in Max Life Platinum Protect II Plan
If the Life Insured under the Policy, whether medically sane or insane, commits suicide, within one year of the date of reinstatement of the Policy,
the Policy shall be void and the Company will only be liable to pay the higher of 80% of premiums paid or the surrender value.
Tax Benefits of Max Life Platinum Protect II Plan
Service Tax and education cess will be charged extra as per applicable rates
Claim Process for Max Life Platinum Protect II Plan
Know Claim ProcessBonuses for Max Life Platinum Protect II Plan
Plan is not eligible for bonus