New Delhi [India], August 5 (ANI/NewsVoir): Max Life Insurance Company Ltd. ("Max Life" / "Company"), has launched Max Life Smart Secure Easy Solution*, a comprehensive three-in-one protection solution offering benefits of life, critical illness & disability and accidental cover.
Aimed primarily toward self-employed individuals, the solution is available for multiple customer cohorts including salaried and other professionals to comprehensively guard against life's uncertainties.
The solution is a combination of Max Life's Smart Secure Plus Plan (UIN: 104N118V04) that aims at providing financial protection in case of any uncertainties in life with an accidental cover option and Max Life Critical Illness and Disability Health Rider (UIN: 104B033V01), which offers an added layer of financial protection in case of critical illnesses, total and permanent disability and provides extra coverage against death due to accident1.
The plan caters primarily to self-employed individuals as it offers flexibility to this segment in terms of frictionless onboarding with easy issuance, including only video medical examination and relaxed financial documentation2.
With this solution, Max Life also offers coverage against 64 listed critical illnesses, including 5 minor and 59 major illnesses, and covers total and permanent disability.
Prashant Tripathy, MD & CEO, Max Life said, "Customer obsession is in Max Life's DNA, and developing products to respond to customer needs is the Company's core competency. With Smart Secure Easy Solution, we want to offer critical life insurance solutions to the self-employed segment as well, which is also more vulnerable to economic fluctuations. Currently underserved, we look forward to catering to this segment and supporting their financial protection needs with quick and hassle-free onboarding."
Key features of Max Life Smart Secure Easy Solution:
Comprehensive cover offering 3-in-1 benefits of Life, Critical Illness and Accident Cover
Easy issuance and smooth onboarding with only video medical examination and relaxed financial documentation2
Return of premium option available wherein at maturity upon survival, the policyholder will be paid back all the base premium3
Max Life's Smart Secure Easy Solution: As part of this term insurance solution, a lumpsum benefit will be paid in case of diagnosis of a critical illness or a terminal illness. In the unfortunate event of the demise of the life insured (normal or accidental), the death benefit will be paid to the nominee.
Accidental cover option: The accidental cover option ensures that the nominee gets the death benefit in addition to the base coverage to help the insured's family cope with financial burdens.
Critical illness and disability rider: The rider creates a financial shield against 64 listed critical illnesses, including life-threatening diseases such as cancer, heart attack, and stroke, among others, as per the rider terms. This rider ensures that the life insured gets a lump-sum payment if diagnosed with a critical illness.
Max Life Insurance Company Limited is a Joint Venture between Max Financial Services Limited and Axis Bank Limited. Max Financial Services Ltd. is a part of the Max Group, an Indian multi-business corporation. Max Life offers comprehensive protection and long-term savings life insurance solutions, through its multi-channel distribution including agency and third-party distribution partners.
Max Life has built its operations over two decades through a need-based sales process, a customer-centric approach to engagement and service delivery and trained human capital. As per public disclosures and annual audited financials for FY21-22, Max Life has achieved a gross written premium of INR 22,414 crore. As of 31st March 2022, the Company had INR 1,07,510 crore of assets under management (AUM) and a Sum Assured in Force of INR 1,174,515 crore.
For more information, please visit the Company's website at www.maxlifeinsurance.com.
* This advertisement is designed for combination of benefits of two or more individual and separate products named Max Life Smart Secure Plus Plan (UIN: 104N118V04) with Accident Cover Option and Max Life Critical Illness Disability Rider (UIN: 104B033V01)
These products are also available for sale individually without the combination offered/suggested. This benefits illustration is the arithmetic combination and chronological listing of combined benefits for individual products.
The customer is advised to refer the detailed sales brochure of respective individual products mentioned herein before concluding the sale
1 - In case the customer requests for cancellation of rider only, the solution as a whole will be cancelled
2 - Applicable for standard lives only
3 - The premium to be returned on maturity will only include base premiums under the policy and does not include amount paid for riders or accidental cover option and is excluding taxes, cesses and levies. Upon policyholder's selection of return of premium variant this product shall be a Non-Linked Non-Participating Individual Life Insurance Savings Plan
4 - Tax benefits may be available as per the prevailing tax laws. Tax laws and the benefits arising thereunder are subject to change. You are advised to seek an opinion of Your tax advisor in relation to the tax benefits and liabilities applicable to You.
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