Robinhood Insurance Broker Private Limited

Product Info

UIN

104N060V02

Status

Withdrawn

Launch Date

23/07/2013

Withdrawn Date

05/11/2015

Product Overview

  • 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.

Product Description

  • 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

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Unique Features

  • 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

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 
Premium Paying Term Regular Term only
Thus premium paying terms are 10, 15, 20, 25 and 30 years 
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.

OneInsure App Benefits

Store Digitally  |  Get Premium Reminders  |  Service and Claim assistances  |  Empower Nominee
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Product Benefit

  • Maturity/ Survival benefit: None
  • Death Benefit:
  1. Sum Assured or reduced Insurance cover will be paid to the nominee of the Life Insured 
  2. Policy offered reduce insurance cover from policy year 16 onwards in case of policy holder discontinuous premium paying premiums

Other Policy Features

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

Not available in this plan

Exclusions

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

Service Tax and education cess will be charged extra as per applicable rates

Claim Process

Know Claim Process of Max Life Platinum Protect II Plan

Claim Process

Company Overview

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.

BENEFITS OF BUYING FROM ONEINSURE

OneInsure is owned by Robinhood Insurance Broker Pvt. Ltd.

Robinhood is known for its user & customer centric approach. We take care of all the phases of insurance, whether you've bought the policy from us or not.

10
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INSURANCE EXPERTS
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Tab 2

2 burgers per month

burger₹ 700
Your yearly cost on fast food = roughly ₹ 8,400
price
Cost of Health Insurance for whole family with ₹ 5 lakhs cover!

Tab 3

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Get ₹. 50 Lakhs
on retirment by saving
₹. 3,900/ Month.

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